GOLDEN SPIKE RES CORP - GSPRF STOCK NEWS

Golden Spike Resources has commenced its inaugural drilling program at the Gregory River property's Steep Brook target in Newfoundland. Recent rock sampling results revealed significant copper values, with several samples exceeding 1.0% copper and reaching up to 7.57% copper, along with gold values up to 0.47 g/t. Channel Line #2 returned notable results of 2.5% copper and 0.2 g/t gold over 2.5 metres. The company also completed in-fill soil sampling at the Vein Zone, which extended and enhanced known copper anomalies. The planned drilling program includes approximately 14 holes totaling 3,000 meters across three target areas. Additionally, the company received approval for $95,691.86 in funding through the Newfoundland Junior Exploration Assistance Program.

Golden Spike Resources has initiated the mobilization of diamond drill equipment and crews for its upcoming drilling program at the Gregory River copper-gold property in western Newfoundland. The program will consist of approximately 14 drill holes totaling 3,000 meters, targeting the Steep Brook, Lode 9, and Vein Zone areas. The drilling will focus on First Priority IP targets supported by geological interpretations, geochemical data, historical drilling, and airborne magnetic data. The company has received all necessary permits and has prepared drill platforms at Steep Brook. Additionally, Golden Spike has been awarded $95,691.86 through the Newfoundland Junior Exploration Assistance (JEA) Program.

Golden Spike Resources has announced positive results from IP surveys at its Gregory River copper-gold property in western Newfoundland. The surveys identified multiple high-priority chargeability and resistivity anomalies at three target areas: Steep Brook, Lode 9, and the Vein Zone.

Key highlights include:

• 15.5 line-kilometers of IP surveying completed at Steep Brook and the Vein Zone
• Re-processing of Lode 9 IP data
• Multiple drill targets generated across all three areas
• Drilling program set to commence in October

The IP results, combined with geological and geochemical data, have been used to generate drill hole locations. Drill pad construction is underway, and the company expects to start its inaugural diamond drilling program later this month.

The surveys revealed promising anomalies that coincide with known mineralization and suggest potential for wider mineralized systems with significant depth extent. Golden Spike plans to drill approximately 14 holes totaling 3,000 meters across the three target areas.

Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) has successfully closed its private placement offerings, raising a total of $2.39 million. The company completed a brokered offering of $1.84 million and the first tranche of a non-brokered offering for $557,500. The brokered offering, led by Kernaghan & Partners , issued 8,000,000 flow-through units at $0.23 per unit. The non-brokered offering issued 2,787,500 non-flow-through units at $0.20 per unit.

Notably, Eric Sprott participated in both offerings, subscribing for $300,000 in flow-through units and $100,000 in non-flow-through units. The proceeds from the flow-through units will be used for Canadian exploration and development of the company's Newfoundland project, while the non-flow-through units' proceeds will be used for general working capital purposes.

Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) announces two private placements: a non-brokered NFT Unit offering for up to $1,000,000 and a brokered FT Unit offering for up to $1,840,000. The NFT Units, priced at $0.20, include one common share and half a warrant exercisable at $0.30. The FT Units, priced at $0.23, consist of one flow-through share and half a warrant exercisable at $0.33. Eric Sprott is leading the NFT placement, potentially increasing his 12.3% stake. Kernaghan & Partners will act as lead agent for the FT placement. Proceeds will fund Canadian exploration, particularly in Newfoundland, and working capital. Both offerings include a 6% finder's fee and 6% warrants.

Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) has responded to OTC Markets' request regarding promotional activity of its common shares. The company acknowledged a promotional newsletter distributed by Spartan Trading Inc. on August 19, 2024, which was part of a marketing agreement with VHLA Media Inc. Golden Spike stated that while they provided factual information, they didn't have editorial control over the materials.

The company believes the increased trading activity on August 19 was due to the promotional materials and a news release about completing their Phase 1 exploration program at the Gregory River copper-gold property. A director sold 200,000 shares at $0.21 per share on August 19. Golden Spike confirmed issuing shares and convertible securities at a discount to market price, as is common for CSE-listed companies.

Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) has successfully completed its 2024 Phase 1 exploration program at the Gregory River copper-gold property in western Newfoundland. The program included IP/Resistivity surveys, prospecting, sampling, and in-fill soil sampling. Key highlights:

1. IP surveys completed over Steep Brook VMS target and part of the Vein zone
2. Prospecting and sampling conducted across Steep Brook and other areas
3. Additional soil samples collected at the Vein Zone
4. Data will be used to generate drill targets for Steep Brook, Vein zone, and Lode 9 areas
5. Company expects to be drill-ready by early fall 2024

The program, partially supported by a government grant, aims to unlock the mineral potential of the property. Results are being processed and interpreted to prepare for the next phase of exploration, including drill testing of promising targets.

Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) (FSE: L5Y) has announced a strategic partnership with Altitude Capital Consultants Inc. to enhance its market presence and investor outreach. The company will compensate Altitude with a $10,000 monthly fee for 12 months, totaling $120,000. Additionally, a one-time fee of $100,000 will be charged for a comprehensive digital marketing campaign. Golden Spike will also grant Altitude 400,000 share purchase options at an exercise price of $0.20 per share.

Michael A. Wekerle, Managing Partner of Altitude, brings extensive experience in capital markets, having played key roles in significant corporate transactions and investments. This partnership aims to support Golden Spike as it advances its exploration and development programs.

Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) (FSE: L5Y) has announced a strategic partnership with Altitude Capital Consultants Inc. and ECM Capital Advisors Inc. for market advisory and digital marketing services. The collaboration aims to enhance Golden Spike's market presence and investor outreach as the company advances its exploration and development programs.

Key points of the agreement include:

• A monthly market advisory fee of $10,000 for 12 months, totaling $120,000
• A one-time fee of $100,000 for a comprehensive digital marketing campaign
• Granting of 400,000 share purchase options to Altitude at an exercise price of $0.20 per share
• Potential additional 500,000 share purchase options based on partnership performance

The partnership brings on board Michael A. Wekerle, Managing Partner of Altitude, and Eugene C. McBurney, Managing Partner of ECM, both with extensive experience in capital markets and the mining sector.