VANCOUVER, BC, Aug. 31, 2026 /CNW/ -- Goldsky Resources Corp (TSXV: GSKR) (FNSE: GSKR SDB) (OTCQX: GSKRF) (FRA: HEG0) ("Goldsky Resources" or the "Company") announces the release of its unaudited condensed consolidated interim financial statements and management discussion and analysis (the "Financial Statements") for the six months ended June 30, 2026 ("Q2 2026").

During the quarter, the Company continued to advance exploration and development activities across its expanded Nordic portfolio in Sweden and Finland while maintaining a strong treasury position.

Q2 2026 Highlights:

   -- Cash balance decreased to approximately C$56.4 million as at June 30, 
      2026 (March 31, 2026: C$86.1 million) following the cash payment of 
      C$28.5 million for the acquisition of the Barsele Gold project 
      ("Barsele"), providing the Company with a strong financial position to 
      advance exploration and development activities across its Nordic 
      portfolio. 
 
   -- Total assets increased to approximately C$430.4 million as at June 30, 
      2026 (March 31, 2026: C$180.0 million) following the acquisition of 
      Barsele. 
 
   -- Exploration and evaluation assets also increased to C$371.6 million 
      following the addition of Barsele, Rajapalot gold-cobalt project and 
      other Finnish assets acquired through the Mawson transaction. 
 
   -- During the quarter, the Company incurred approximately C$2.3 million in 
      exploration expenditure across its Nordic project portfolio. 
 
   -- The Company reported a net loss of C$5.5 million for Q2 2026, primarily 
      attributable to exploration expenditure and management fees incurred 
      during the quarter. 

Operational Highlights:

   -- At the Rajapalot gold-cobalt project in northern Finland, the winter 
      exploration program (10,429 meters) was fully completed, with core 
      logging achieving 100% completion on schedule. The majority of assay 
      results have now been received, with all gold assays returned and 
      multi-element results pending for the final two holes. The updated 
      resource model has been delivered to SLR, an independent consulting firm 
      engaged to complete a resource update that will support an updated 
      Preliminary Economic Assessment (PEA) for the project. 
 
   -- Biodiversity and nature surveys, hydrogeological tests, and four 
      community engagement meetings were successfully completed to ensure 
      responsible local project development. The extension permit application 
      and Nature assessment update for the core area (Kairamaat 2-3) was filed 
      with the Mining Authority. 
 
   -- Following the completion of the Barsele Gold Project acquisition in June 
      2026, the Company advanced integration and project planning across the 
      Barsele Project, including preparatory work for the metallurgical test 
      program on the Central and Avan zones that commenced in August 2026. 

Corporate Highlights:

   -- On April 9, 2026, shareholders approved Agnico Eagle Sweden AB as a 
      "control person" of the Company in connection with Goldsky becoming the 
      100% owner of the Barsele Gold Project. 
 
   -- On June 25, 2026, the Company completed the acquisition of the remaining 
      55% interest in Gunnarn Mining AB from Agnico Eagle Sweden AB ("Agnico"), 
      for total consideration of US$20,000,000 in cash (CAD$28,465,700) and 
      75,509,577 common shares of the Company, resulting in Goldsky's 100% 
      ownership of the Barsele Gold Project. Agnico retains a perpetual 2% net 
      smelter return royalty on the Barsele Project. 
 
   -- During Q2 2026, the Company received proceeds of approximately C$4.1 
      million from the exercise of stock options, compensatory options, and 
      warrants. 
 
   -- The Company continued integration activities relating to the Mawson and 
      the newly acquired Barsele acquisition. 

Subsequent Events:

   -- Goldsky and Ocean Partners entered into a Memorandum of Understanding 
      ("MOU") to establish a framework cooperation 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. 
 
   -- On July 23, 2026, the Company held its Annual General Meeting of 
      Shareholders. Shareholders elected all six director nominees -- Peter 
      Breese, Marc Legault, Jeffrey Couch, Russell Bradford, Noora Ahola and 
      Karilyn Farmer -- with approximately 98% support each, reappointed 
      Davidson & Company LLP, Chartered Professional Accountants, as auditor, 
      and approved a new Omnibus Equity Incentive Plan with approximately 97% 
      support. 
 
   -- On August 5, 2026, the Company announced the commencement of a 
      metallurgical test program on 345kg composite samples from the Central 
      and Avan zones of the Barsele Project. The program, being conducted by 
      Alfred Knight in Truro, United Kingdom over approximately 16 weeks, 
      includes crusher comminution, Bond rod and ball mill, gravity gold 
      recovery, gold leach kinetics and detoxification testing, and is intended 
      to support the Company's planned Preliminary Economic Assessment and 
      resource update for Barsele. 
 
   -- Appointment of Gabriella Hammarskjöldas as Environmental Manager of 
      Goldsky Sweden AB, effective September 1, 2026. 
 
   -- Appointment of Carl Danielsson as Manager of Communications and Public 
      Affairs for Goldsky Sweden AB, effective October 1, 2026. 
 
   -- After June 30, 2026, 2,601,562 warrants were exercised for proceeds of 
      $4,928,823, 45,080 compensatory options were exercised for proceeds of 
      $66,658, and 88,811 stock options were exercised for proceeds of $66,749. 

Financial Reporting and Additional Notes:

The Company's unaudited condensed consolidated interim financial statements and MD&A for the six months ended June 30, 2026, are available on SEDAR+ and on the Company's website. The Unaudited Financial Statements are available on the Company's website here.

These statements are based on reasonable estimates and information available as of the reporting date and may be subject to revision. Actual results may vary from the financial information presented therein.

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% owned Barsele gold project in central Sweden. Barsele is host to an Indicated Mineral Resource of 7.88 Mt grading 1.27 g/t Au containing 320,781 oz 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 license position surrounding Barsele totalling approximately 80,000 hectares on Sweden's Gold Line greenstone belt comprised of two additional projects (Paubäcken, Storjuktan).

Additionally, in central Finland, Goldsky Resources is the 100%-owner of a district-scale position covering the entire underexplored Oijärvi greenstone belt, including the Kylmäkangas deposit, the largest known gold occurrence on this belt. Goldsky Resources is also the 100% -owner of the Rajapalot gold cobalt project situated in northern Finland, which has an Inferred Resource of 9,780kt containing 867 koz Au @ 2.8 g/t Au & 4.3 kt Co @ 441 ppm Co (NI 43-101 Technical Report ON A Preliminary Economic Assessment Of The Rajapalot Gold-Cobalt Project, Finland. Effective Date: 19 December 2023. Prepared for Mawson Finland Ltd by SRK Consulting (UK) LTD. SRK Qualified Person Christopher Bray Beng (Mining), MAusIMM(CP), Ove Klaver, MSc (Geology), Eur.Geol., Eemeli Rantala, MSc (Geology), P.Geo., Craig Brown, B.E. (Chem), GradDipGeosci, FAusIMM, Mathieu Gosselin, Beng (Mining), P.Eng.).

ON BEHALF OF THE BOARD OF DIRECTORS

Russell Bradford

CEO & Director

For further information contact:

Investor Relations

Neil MacRae

SVP, Corporate Development

ir@goldskyresources.com

The Company's certified adviser on the Nasdaq First North Growth Market is Augment Partners AB, info@augment.se, +46 8-604 22 55.

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Neither 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 news release. No securities regulatory authority has reviewed or approved of the contents of this news release.

Forward-looking Information:

This news release contains forward-looking statements that reflect the Company's intentions, beliefs, or current expectations about and targets for the Company's and the group's future results of operations, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company and the group operates. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe", "expect", "anticipate", "intend", "may", "plan", "estimate", "will", "should", "could", "aim" or "might", or, in each case, their negative, or similar expressions. The forward-looking statements in this news release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that they will materialize or that the assumptions on which it is based are correct. Because these statements are based on assumptions or estimates and are subject to risks and