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Toronto, Ontario--(Newsfile Corp. - March 6, 2025) - Eric Sprott announces that, on March 5, 2025, 2,222,222 common share purchase warrants (Warrants) of Golden Lake Exploration Inc., held by 2176423 Ontario Ltd., a corporation beneficially owned by him, expired unexercised representing a decrease in holdings of approximately 6.4% of the outstanding common shares (Shares) on a partially diluted basis since the date of the last 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% of the outstanding Shares on a non-diluted basis and approximately 6.6% 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% 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% since the date of the last filing of an Early Warning Report and brings total holdings to under 10% on a non-diluted basis. As a result, Mr. Sprott and 2176423 Ontario Ltd., 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.

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