Prosper Gold

Golden Lake Exploration Announces C$5.4 Million Financing

VANCOUVER, BC / ACCESSWIRE / February 23, 2021 / Golden Lake Exploration Inc. (CSE:GLM) ("GLM" or the "Company") announces that it has arranged a non-brokered private placement of up to 12 million units ("Units") at a price of $0.45 per Unit for aggregate gross proceeds of $5,400,000.00 (the "Offering"). Each Unit will be comprised of one common share ("Share") and one half of one transferable Share purchase warrant of the Company ("Warrant"). Each whole Warrant will entitle the Subscriber to purchase one Warrant Share for a 24-month period after the Closing Date at an exercise price of $0.60 per share. Net proceeds of the Financing will be used to advance the Corporation's Jewel Ridge gold property near Eureka, Nevada and for general working capital purposes.

Shares issued pursuant to the Financing will be subject to a four-month hold period according to applicable securities laws of Canada.

Finders' fees may be payable on the private placement, subject to the policies of the Canadian Securities Exchange.

About Golden Lake Exploration Inc.

Golden Lake Exploration Inc. is a junior public mining exploration company engaged in the business of mineral exploration and the acquisition of mineral property assets. Its objective is to acquire, explore and develop economic precious and base metal properties of merit and to aggressively advance its exploration program on the Jewel Ridge property.

ON BEHALF OF THE BOARD

"Mike England"

Mike England,
CEO&DIRECTOR

FOR FURTHER INFORMATION PLEASE CONTACT:

Telephone: 1-604-683-3995
T
ollFree:1-888-945-4770

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.

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Golden Lake Exploration

Last Trade: C$0.47
Daily Change: -0.025 -5.05
Daily Volume: 1,114,466
Market Cap: C$13.380M
Golden Lake Exploration Financing Fully Subscribed
Golden Lake Exploration Ltd. Reports “Bonanza” Grade Discovery in Hole Jr-20-DD12 from Jewel Ridge Property, Nevada, Including 24.54 Meters Averaging 9.16 g/t Gold and 65.8 g/t Silver, Including 3.23 Meters Averaging 57.16 g/t Gold and 452.0 g/t Ag
Golden Lake Exploration Inc. Reports 303 g/t Silver and 11.2 g/t Gold from Surface Grab Samples at the South Eureka Zone, Jewel Ridge Property, Nevada
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Golden Lake Exploration Inc.: Maiden Jewel Ridge Drill Program Returns 2.80 g/t Au over 22.9 Meters, Including 4.38 g/t Au over 12.2 Meters, from Eureka Tunnel Zone
Golden Lake Exploration Inc. Expands Land Position Adjacent to Kodiak Copper Corp.’s MPD Property with New Property Acquisition

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