Mr. Keith Anderson reports

GOLDEN SPIKE CLOSES PRIVATE PLACEMENT FINANCING OF UNITS WITH PARTICIPATION FROM ERIC SPROTT

Golden Spike Resources Corp., further to its news release on Nov. 30, 2023, has closed a private placement financing and issued 3.95 million units at eight cents per unit for gross proceeds of $316,000. Each Unit consists of one common share and one-half of one warrant. Each whole transferable warrant (a "Warrant") is exercisable at $0.10 per common share until December 5, 2025 (the "Private Placement").

The Company paid finder's fees consisting of $4,800 cash and 60,000 non-transferable warrants. Each finder's warrant is exercisable at $0.10 per common share until December 5, 2025, on a portion of the Private Placement in accordance with the policies of the Canadian Securities Exchange.

Eric Sprott, through 2176423 Ontario Ltd., a corporation beneficially owned by him, acquired 2,500,000 Units pursuant to the Private Placement for total consideration of $200,000. Prior to the Private Placement, Mr. Sprott beneficially owned or controlled 1,000,000 common shares of the Company representing approximately 2.8 % of the outstanding common shares of the Company on a non diluted basis.

As a result of the Private Placement, Mr. Sprott now beneficially owns or controls 3,500,000 common shares and 1,250,000 common share purchase warrants of the Company representing approximately 8.7% on a non-diluted basis and 12.0% on a fully diluted basis assuming the exercise of such Warrants.

The securities are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

A copy of the early warning report with respect to the foregoing will appear on Golden Spikes's profile on SEDAR+ and may also be obtained by calling Mr. Sprott's office at (416) 945-3294 (2176423 Ontario Ltd., 7 King Street East, Suite 1106, Toronto Ontario M5C 3C5).

Proceeds of the Private Placement will be used for exploration and development of the Company's projects in Newfoundland, and for general working capital.

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 3,425-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 plus or minusgold vein structures.

We seek Safe Harbor.