Mr. Neil MacRae reports

GOLDSKY ANNOUNCES MOU WITH OCEAN PARTNERS TO FURTHER STUDY COBALT RECOVERY FROM THE RAJAPALOT PROJECT IN FINLAND

Goldsky Resources Corp. and Ocean Partners have entered into a memorandum of understanding (MOU) to establish a framework co-operation agreement to investigate the technical and economic viability of recovering cobalt from Goldsky's Rajapalot gold-cobalt project in Finland and to evaluate potential commercial arrangements relating to cobalt concentrate production, marketing and offtake.

"We are pleased to announce this MOU with Ocean Partners for our Rajapalot project in Finland. The MOU has been designed to investigate the best technical flowsheet for cobalt recovery and a commercial solution for the sale of concentrate into the cobalt market. Our Rajapalot project has a strategic cobalt component that enables us to potentially qualify as a critical metal producer as defined by the EU's Critical Raw Materials Act. This will be an important advantage for us from the perspective of permitting the Rajapalot project into production," said Russell Bradford, chief executive officer.

The company is evaluating opportunities to recover cobalt from mineralized material associated with the Rajapalot project in Finland. Ocean Partners has expertise in metals marketing, concentrate blending, offtake arrangements, project development and financing solutions, and wishes to assess the potential for participation in the development of a cobalt recovery process and associated commercial arrangements. Costs relating to the phase 1 development including sample generation, transport, laboratory work and supervision will be allocated between the two parties.

The parties shall co-operate in good faith to investigate:

1. The metallurgical recovery of cobalt from Rajapalot mineralized material;
2. The technical and economic viability of a cobalt recovery circuit and processing facility;
3. Potential cobalt concentrate marketing and offtake opportunities;
4. Concentrate blending opportunities and associated commercial arrangements;
5. Potential participation by Ocean Partners in future project development.

This MOU is intended to facilitate cooperation and information sharing during the evaluation process and does not constitute a binding commitment to proceed with any transaction, construction project, financing arrangement or offtake agreement, nor does it create any binding obligations.

Certified adviser

Augment Partners AB is the company's certified adviser on Nasdaq First North Growth Market.

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-per-cent-owned Barsele gold project in central Sweden. Barsele is host to an indicated mineral resource of 7.88 Mt (million tonnes) grading 1.27 g/t (grams per tonne) Au containing 0.32 oz (ounces) Moz (million ounces) 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 licence position surrounding Barsele totalling approximately 80,000 hectares on Sweden's Gold Line greenstone belt comprising two additional projects (Paubacken, Storjuktan).

Additionally, in central Finland, Goldsky Resources is the 100-per-cent owner of a district-scale position covering the entire underexplored Oijarvi greenstone belt, including the Kylmakangas deposit, the largest known gold occurrence on this belt. Goldsky Resources is also the 100-per-cent owner of the Rajapalot gold cobalt project situated in northern Finland, which has an inferred resource of 9,780 kt (thousand tonnes) containing 867 koz Au at 2.8 g/t Au and 4.3 kt Co at 441 ppm (parts per million) Co (cobalt) (NI 43-101 technical report on a preliminary economic assessment of the Rajapalot gold-cobalt project, Finland. Effective date: Dec. 19, 2023. Prepared for Mawson Finland Ltd. by SRK Consulting (U.K.) Ltd. SRK qualified persons Christopher Bray Beng (mining), MAusIMM (CP), Ove Klaver, MSc (geology), EurGeol, Eemeli Rantala, MSc (geology), PGeo, Craig Brown, BE (chemistry), GradDipGeosci, FAusIMM, Mathieu Gosselin, Beng (mining), PEng).

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