Goldsky Announces Commencement of Metallurgical Test Work on the Avan and Central Zones at the Barsele Project in Sweden

VANCOUVER, BC, Aug. 5, 2026 /CNW/ -- Goldsky Resources Corp (TSXV: GSKR) (FNSE: GSKR SDB) (OTCQX: GSKRF) (FRA: HEG0) ("Goldsky Resources" or the "Company") is pleased to announce that the Company has commenced metallurgical test work on composite samples weighing 345kg from the Central and Avan zones of the Barsele Project in Sweden. The metallurgical samples have been dispatched to Alfred Knight in Truro, United Kingdom.

The testwork will include;

• Crusher comminution tests
• Bond rod mill and Bond ball mill test
• Gravity gold recovery tests
• Gold leach kinetic tests
• Detoxification tests

The purpose of the test programs are to collect data on both power requirements and reagent dosage for the Barsele project. All results will be used for input into the Preliminary economic assessment which will be compiled through various packages of work.

"We are pleased to commence this metallurgical test program at the Barsele Project. This will be an important piece of information for our process as we move forward on the resource update at Barsele and the eventual publication of our maiden PEA report on the Barsele project in 2027", said Russell Bradford CEO.

The program will take approximately 16 weeks with results to be released to the market once they become available.

Sample preparation for Central and Avan zones of the Barsele Deposit

The Company's certified adviser on the Nasdaq First North Growth Market is Augment Partners AB, info@augment.se, +46 8-604 22 55.

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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No securities regulatory authority has reviewed or approved of the contents of this news release.

Forward-looking Information:
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes statements that relate to future events or future performance and are often, but not always, identified by words such as "anticipate", "expect", "intend", "plan", "estimate", "believe", "potential", "may", "will", "should", "could", or similar expressions. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding Agnico Eagle's expected provision of transition services; statements regarding the anticipated benefits of the Transaction, the potential of Barsele, the terms of the NSR and the re-purchase rights thereof, the Company's exploration plan at Barsele, including the expectations for the Company's upcoming drill campaign, the Company's growth prospects and strategic objectives, the renewal of the Barsele exploration and exploitation permits, and any other statements regarding future plans, expectations, estimates, assumptions or projections, constitute forward-looking information. Although Goldsky Resources believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since the Company can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in the Company's periodic filings with Canadian securities regulators, and assumptions made with regard to: availability of financing; assumptions regarding commodity prices, exploration success, costs, and general business and economic conditions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from the Company's expectations include risks that the Transaction may not provide the anticipated benefits; risks associated with the business of Goldsky Resources; risks related to exploration and potential development of Barsele; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and indigenous groups in the exploration and development of Barsele and the issuance of required permits; the need to obtain additional financing to develop Barsele and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as identified in Goldsky Resources' filings with Canadian securities regulators on SEDAR+ (available at www.sedarplus.ca). Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Goldsky Resources. The forward-looking information contained in this news release is made as of the date hereof and Goldsky Resources does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws or Nasdaq First North Growth Market Rulebook for Issuers of Shares. The foregoing statements expressly qualify any forward-looking information contained herein.

260805 Goldsky Announces Commencement of Metallurgical Test Work ID-1b0d3aa13b43

For further information contact:
Investor Relations
Neil MacRae
SVP, Corporate Development
ir@goldskyresources.com

Tavistock PR (media contact)
Jos Simson/Saskia Sizen
goldskyresources@tavistock.co.uk 

About Goldsky Resources Corp.

Goldsky Resources is a publicly listed gold exploration company, consolidating assets in Sweden and Finland. The Company's flagship asset is the 100% owned Barsele gold project in central Sweden. Barsele is host to an Indicated Mineral Resource of 7.88 Mt grading 1.27 g/t Au containing 0.32 oz Moz Au and an Inferred Mineral Resource: 28.75 Mt grading 1.98 g/t Au containing 1.83 Moz Au.

Goldsky Resources owns a district-scale license position surrounding Barsele totalling approximately 80,000 hectares on Sweden’s Gold Line greenstone belt comprised of two additional projects (Paubäcken, Storjuktan).

Additionally, in central Finland, Goldsky Resources is the 100%-owner of a district-scale position covering the entire underexplored Oijärvi greenstone belt, including the Kylmäkangas deposit, the largest known gold occurrence on this belt. Goldsky Resources is also the 100% -owner of the Rajapalot gold cobalt project situated in northern Finland, which has an Inferred Resource of 9,780kt containing 867 koz Au @ 2.8 g/t Au & 4.3 kt Co @ 441 ppm Co (NI 43-101 Technical Report ON A Preliminary Economic Assessment Of The Rajapalot Gold-Cobalt Project, Finland. Effective Date: 19 December 2023. Prepared for Mawson Finland Ltd by SRK Consulting (UK) LTD. SRK Qualified Person Christopher Bray Beng (Mining), MAusIMM(CP), Ove Klaver, MSc (Geology), Eur.Geol., Eemeli Rantala, MSc (Geology), P.Geo., Craig Brown, B.E. (Chem), GradDipGeosci, FAusIMM, Mathieu Gosselin, Beng (Mining), P.Eng.).