GOLDEN LAKE EXPL INC - GOLXF STOCK NEWS

Golden Lake Exploration Inc. (CSE:GLM, OTCQB:GOLXF) announced positive results from a geochemical soil sampling survey on its Jewel Ridge property located in Nevada's Battle Mountain-Eureka gold belt. A total of 888 soil samples collected during the 2020-2021 field seasons revealed significant anomalies for Au, Ag, Pb, Zn, As, and Sb, indicating potential for high-grade CRD mineralization. The survey highlighted a key north-trending corridor with concentrations warranting further drilling. Upcoming geophysical surveys, including MagnetoTelluric and drone magnetic surveys, aim to enhance exploration targeting and better define mineralization zones. Scheduled completion is expected in late spring to early summer 2023.

Golden Lake Exploration Inc. (OTCQB:GOLXF) announced significant assay results from its Copperview South property in British Columbia. The company reported peak values of 13.35 g/t gold, 1,280 g/t silver, and substantial concentrations of copper, lead, and zinc in rock samples. A total of 40 samples yielded an average of 0.66 g/t gold, 57.72 g/t silver, and 1,613 ppm copper. The Full Monty property revealed promising prospects with historic drilling indicating significant mineralization, suggesting the area may have been underestimated for zinc content. Future exploration aims to validate these findings.

Golden Lake Exploration Inc. (CSE:GLM) (OTCQB:GOLXF) announces the proposed amendment of 11,172,701 warrants from its March 2021 private placement. The expiry date will extend from March 5, 2023, to March 5, 2025, and the exercise price will be reduced from $0.60 to $0.25. This amendment will be subject to an Acceleration Right, whereby if shares close above $0.3125 for ten consecutive days, the expiry will accelerate to 30 days post-confirmation. The amendment constitutes a related party transaction, exempt from valuation and minority approval requirements of MI 61-101 due to its fair market value not exceeding 25% of market capitalization.

Golden Lake Exploration Inc. (OTCQB:GOLXF) has announced promising results from surface rock sampling at its Jewel Ridge property in Nevada's Battle Mountain-Eureka gold belt. A total of 586 rock samples were collected, with significant assays including a peak of 45.2 g/t Au, 547 g/t Ag, and 25.2% Pb+Zn in the carbonate replacement deposit mineralization. The findings indicate a shallow manifestation of a widespread CRD hydrothermal system, warranting deeper exploration. A MagnetoTelluric (MT) geophysical survey is planned to assist in targeting deeper drilling, essential for uncovering potential high-grade deposits.

Golden Lake Exploration Inc. (CSE:GLM)(OTCQB:GOLXF) has appointed Allan Barry Laboucan as an advisor for digital marketing and corporate development. Laboucan has extensive experience in the mining sector and aims to enhance GLM's outreach to investors. He noted the significant potential of the Jewel Ridge project in Nevada, emphasizing its geological advantages. The company also announced the allocation of 950,000 stock options at $0.08 for five years. This strategic move is expected to aid in advancing the exploration program on their properties.

Golden Lake Exploration Inc. has appointed Mr. Don Hoy as the Vice President of Exploration, bringing over 30 years of experience in mining. Previously, he held key positions at Wolfden Resources and Cliffs Natural Resources. His expertise will support the advancement of the Jewel Ridge project in Nevada, a promising area for gold exploration. The company also announced the granting of 1.8 million stock options at $0.08 each for five years, and the decision to drop one option from its Copperview portfolio. Jewel Ridge consists of 96 unpatented lode claims and 30 patented claims, targeting Carlin-style gold deposits.

Golden Lake Exploration has released results from its Phase 2 diamond drill program at the Jewel Ridge Property in Nevada.

Highlights include:

• 26.37 metres averaging 5.38 g/t gold from hole JR-22-36DD.
• Highest grade intercept in hole JR-22-50DD: 3.31 g/t gold, 209.5 g/t silver.
• Comprehensive Plan of Operation submission is ongoing to enhance future drilling capabilities.

Drilling quality assurance was noted, with no reported QA/QC issues.

Golden Lake Exploration Inc. (CSE:GLM) (GOLXF-OTC) announced exciting updates regarding its Jewel Ridge project in Nevada. Drilling at the Hamburg Mine Target has revealed the Red Zone with visual arsenic minerals orpiment and realgar in hole JR-22-42DD, confirming significant mineralization potential. The hole was drilled at a depth of 183.5 metres (602 ft) and aims to extend mineralization findings from previous drill hole JR-22-36DD, which returned 5.38 g/t Au over 26.37 metres. The project area holds robust geological prospects along a north-south mineralized corridor.

Golden Lake Exploration Inc. has announced a strategic acquisition of four patented claims in Nevada's Jewel Ridge property. This includes the Cardinalli Portfolio and the Lord Byron claim. The company will earn a 100% interest in the Cardinalli Portfolio through cash payments of $550,000 and issuance of 1 million shares over four years, while it has purchased the Lord Byron claim for $70,000. These acquisitions provide immediate drill targets and enhance access to known mineralization areas, potentially increasing the company's market position.