Golden Spike Resources Corp. Receives $95,691.86 Government Grant Under JEA Program in Newfoundland

Rhea-AI Summary

Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) has been awarded a $95,691.86 grant under the Junior Exploration Assistance (JEA) program by the Government of Newfoundland and Labrador. This grant will support the company's ongoing exploration activities on its Gregory River project in Newfoundland. The funding will enable Golden Spike to advance its exploration programs, including IP surveys, prospecting work, and drilling initiatives.

The company plans to complete Induced Polarization (IP) surveys and detailed prospecting on the Gregory River property, followed by a drilling program focusing on high-priority targets. Golden Spike has also engaged Black Swan Solutions Inc. dba VHLA Media for a 6-month digital marketing campaign at a cost of C$100,000 plus GST.

Positive

• Received a $95,691.86 government grant to support exploration activities
• Grant enables advancement of IP surveys, prospecting work, and drilling initiatives
• Upcoming drilling program planned on high-priority targets

Negative

• C$100,000 plus GST expense for a 6-month digital marketing campaign

Vancouver, British Columbia--(Newsfile Corp. - August 2, 2024) - Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) (FSE: L5Y) ("Golden Spike" or the "Company") is pleased to announce that it has been awarded a grant of $95,691.86 under the Junior Exploration Assistance (JEA) program by the Government of Newfoundland and Labrador. This grant will support the company's ongoing exploration activities on its key properties in Newfoundland.

Highlights of the Grant:

• Amount Awarded: $95,691.86

• Purpose: To assist with exploration work on Golden Spike's Gregory River project in Newfoundland.

• Impact: The grant will enable the Company to advance its exploration programs, including IP surveys, prospecting work, and drilling initiatives.

Keith Anderson, President and CEO of Golden Spike Resources Corp., commented: "We are extremely grateful for the support from the Government of Newfoundland and Labrador through the JEA program. This funding will significantly enhance our ability to continue exploration and development on our Newfoundland properties. We are committed to conducting our activities in an environmentally responsible manner, and this grant will help us in achieving our goals while also providing economic benefits to the local communities."

Exploration Plans:

• IP and Prospecting Work: The completion of Induced Polarization (IP) surveys and detailed prospecting on the Gregory River property.

• Drilling Program: Mobilization for the upcoming drilling program on the property, with a focus on high-priority targets identified through IP and prospecting results.

• Data Interpretation: Continued interpretation of IP data and prospecting results to refine drill targets.

Community Engagement:

Golden Spike Resources Corp. remains committed to engaging with local communities and stakeholders. The Company will continue to provide updates on exploration progress and ensure that all activities are conducted with the utmost respect for the environment and community interests.

Marketing Engagement:

Golden Spike is pleased to announce it has engaged Black Swan Solutions Inc. dba VHLA Media ("VHLA") to provide certain digital marketing services (the "Services") to the Company, including the development of social media content and a marketing campaign distributed through online platforms, including Instagram, TikTok, Google, and via email through VHLA's mailing list. The Engagement is for a term of 6 months and may be renewed for subsequent periods if mutually agreed upon by VHLA and the Company. As consideration for the Engagement, the Company will pay VHLA a fee of C$100,000 plus GST.

VHLA is a British Columbia-based digital media marketing company, whose contact information is as follows: 14301-312 256^th St. Maple Ridge, BC, attention: Dawson Ignatieff, dawson@vhlamedia.com. VHLA has an arm's length relationship with the Company and, to the Company's knowledge, VHLA and its directors and officers do not own any securities of the Company.

About Golden Spike

Golden Spike Resources Corp. (CSE:GLDS), (OTCQB: GSPRF), (FSE: L5Y) is a Canadian mineral exploration company focused on identifying, acquiring and unlocking value in mineral opportunities in Canada and other low-risk jurisdictions. The Company currently holds 100% interest in the 5,050-hectare Gregory River Property in Newfoundland, strategically centered over an approximate 11-kilometer-long stretch of the Gregory River VMS-belt, a north-northeast trending corridor of very prospective ground with potential to host Cyprus-type polymetallic VMS deposits. In addition, the Property hosts a cluster of historically explored, high-grade, copper ±gold vein structures.

ON BEHALF OF THE BOARD OF DIRECTORS

Keith Anderson

Golden Spike Resources Corp.
830 - 1100 Melville St.,
Vancouver, BC, V6E 4A6
+1 (604) 786-7774
info@goldenspikeresources.com
www.goldenspikeresources.com

"Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this release."

Cautionary Note Regarding Forward-Looking Statements

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" occur.

Additionally, forward-looking information involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: the volatility of global capital markets, political instability, unanticipated costs, risks relating to the extent and duration of the conflict in Eastern Europe and its impact on global markets, the lack of availability of capital and financing, general economic, market or business conditions, adverse weather conditions, failure to maintain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations), increase in costs, litigation, failure of counterparties to perform their contractual obligations, failure of the exploration program, including the recent IP survey and potential future drilling to result in the discovery of significant precious and/or base metal mineralization, and those risks, uncertainties and factors set forth in the Company's disclosure record under the Company's profile on SEDAR+ at www.sedarplus.ca . Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information contained herein. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement or forward-looking information disclosed herein, except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218736

FAQ

What is the amount of the grant received by Golden Spike Resources Corp. (GSPRF)?

Golden Spike Resources Corp. (GSPRF) received a grant of $95,691.86 under the Junior Exploration Assistance (JEA) program from the Government of Newfoundland and Labrador.

What will Golden Spike Resources Corp. (GSPRF) use the grant for?

The grant will be used to support ongoing exploration activities on Golden Spike's Gregory River project in Newfoundland, including IP surveys, prospecting work, and drilling initiatives.

What marketing engagement has Golden Spike Resources Corp. (GSPRF) announced?

Golden Spike Resources Corp. (GSPRF) has engaged Black Swan Solutions Inc. dba VHLA Media for a 6-month digital marketing campaign at a cost of C$100,000 plus GST.

What are the exploration plans for Golden Spike Resources Corp. (GSPRF) on its Gregory River property?

Golden Spike Resources Corp. (GSPRF) plans to complete IP surveys, detailed prospecting, and a drilling program focusing on high-priority targets identified through IP and prospecting results on its Gregory River property.