Mr. Eric Sprott, a shareholder, reports

ERIC SPROTT ANNOUNCES CHANGES TO HIS HOLDINGS IN GOLDEN LAKE EXPLORATION INC.

On March 5, 2025, 2,222,222 common share purchase warrants of Golden Lake Exploration Inc., held by 2176423 Ontario Ltd., a corporation beneficially owned by Eric Sprott, expired unexercised, representing a decrease in holdings of approximately 6.4 per cent of the outstanding common shares on a partially diluted basis since the date of the past early warning report. Prior to such expiry, Mr. Sprott beneficially owned and controlled 4,444,444 shares and 2,222,222 warrants, representing approximately 4.5 per cent of the outstanding shares on a non-diluted basis and approximately 6.6 per cent on a partially diluted basis assuming the exercise of such warrants.

As a result of the expiry of the warrants, Mr. Sprott now beneficially owns 4,444,444 shares, representing approximately 4.5 per cent of the outstanding shares on a non-diluted basis. The warrant expiry combined with previous new share issuances by Golden Lake Exploration resulted in an ownership decrease, on a partially diluted basis, of approximately 6.4 per cent since the date of the past filing of an early warning report and brings total holdings to under 10 per cent on a non-diluted basis. As a result, Mr. Sprott and 2176423 Ontario ceased to be insiders of Golden Lake Exploration.

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 Lake Exploration's profile on SEDAR+ and may also be obtained by calling Mr. Sprott's office at 416-945-3294 (2176423 Ontario, 7 King St. East, Suite 1106, Toronto, Ont., M5C 3C5).