Mr. Mike England reports

GOLDEN LAKE EXPLORATION ANNOUNCES OVERSUBSCRIBED FINANCING CLOSED

Further to Golden Lake Exploration Inc.'s press release dated Sept. 5, 2024, the company has closed the non-brokered private placement. The company issued 15,835,000 units at a price of five cents per unit for aggregate gross proceeds of $791,750. Each unit comprised one common share and one transferable common share purchase warrant of the company. Each warrant will entitle the subscriber to purchase one warrant share for a 36-month period after the closing date at an exercise price of seven cents per share.

Proceeds raised will be used for advancing the company's Jewel Ridge property in Nevada as well as for general working capital.

Finders' fees of $34,425 cash and 896,000 non-transferable finders' warrants were paid to arm's-length parties. Each finder's warrant will entitle the finder to purchase one warrant share of the company for a 12-month period after the closing date at an exercise price of seven cents per share.

Shares issued pursuant to the financing will be subject to a four-month hold period according to applicable securities laws of Canada.

About Golden Lake Exploration Inc.

Golden Lake Exploration is a junior public mining exploration company engaged in the business of mineral exploration and the acquisition of mineral property assets. Its objective is to acquire, explore and develop economic precious and base metal properties of merit and to aggressively advance its exploration program on the Jewel Ridge property.