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Vancouver, British Columbia--(Newsfile Corp. - May 19, 2026) - Golden Sky Minerals Corp. (TSXV: AUEN) ("Golden Sky" or the "Company") announces that it has entered into an option amending agreement dated April 20, 2026 (the "Amending Agreement") with Strata GeoData Services Ltd. ("Strata GeoData") to amend the terms of the Company's existing option agreement on a portion of the Rayfield Project located in British Columbia.

Under the terms of the Amending Agreement, the Company and Strata GeoData have agreed to amend the final cash and share consideration payable by Golden Sky pursuant to the option agreement originally dated May 26, 2022, as amended August 8, 2024.

The amended terms provide that:

the remaining cash payment has been reduced to $10,000, payable on or before May 15, 2026, with such payment to be directed to Below BC, an affiliated non-profit organization of Strata GeoData; and

the remaining share issuance has been amended to 200,000 common shares of Golden Sky payable to Strata GeoData on or before May 15, 2026.

The Amending Agreement remains subject to the approval of the TSX Venture Exchange. The shares, when issued, will be subject to a statutory hold period in accordance with applicable securities laws.

The amended agreement forms part of Golden Sky's broader efforts to simplify and consolidate ownership of its Rayfield ground, which now forms part of the larger Rayfield-Gjoll copper-gold project under the Company's earn-in and option agreement with Boliden Mineral Canada Ltd.

Golden Sky recently completed a NI 43-101 Technical Report on the Rayfield Project, establishing the Rayfield ground as a standalone asset and providing the Company with increased strategic and corporate flexibility moving forward.

John Newell, President and CEO of Golden Sky, commented: "Finalizing this amendment is another important step in simplifying the ownership structure of the Rayfield-Gjoll Project. With 100% ownership of the Rayfield ground, we have greater flexibility as we advance the project under the Boliden earn-in arrangement and continue evaluating broader corporate initiatives."

About Golden Sky Minerals Corp.

Golden Sky Minerals Corp. is a project-generator-style junior explorer focused on the acquisition, systematic exploration, and strategic advancement of a diversified portfolio of 100%-owned mineral properties in highly prospective, mining-friendly jurisdictions. The Company's strategy emphasizes securing major partners on select high-potential assets to fund exploration and minimize shareholder dilution, while advancing its broader portfolio in parallel.

Its portfolio includes the flagship Rayfield-Gjoll Copper-Gold Project in British Columbia (subject to a C$20 million earn-in with Boliden, the Hotspot and Lucky Strike gold projects in Yukon's White Gold District, and the Auden Gold Project in Ontario's Timmins camp. All core assets are 100% owned by the Company with no underlying royalties.

ON BEHALF OF THE BOARD

John Newell, President, Chief Executive Officer and Director

More information can be found at the Company's website at www.goldenskyminerals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as "anticipates", "intends", "expects", "understanding", "has agreed to" or variations of such words and phrases or statements that certain actions, events or results "would", "occur" or "be achieved". Although Golden Sky has attempted to identify important factors and risks that could affect Golden Sky and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors and risks that cause actions, events or results not to be as anticipated, estimated or intended, including, without limitation: inherent risks involved in the exploration and development of mineral properties; the uncertainties involved in interpreting drill results and other exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with Golden Sky's expectations; accidents, equipment breakdowns, title and permitting matters; labour disputes or other unanticipated difficulties with or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on its projects; that Golden Sky may not be able to confirm historical exploration results and other risks set forth in Golden Sky's public filings at www.sedarplus.ca. In making the forward-looking statements in this news release, Golden Sky has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Golden Sky does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/297962