golden lake’s plan of operations accepted by bureau of land management in preparation for upcoming diamond drilling on its jewel ridge gold-silver-zinc-lead property, eureka county, nevada

August 19, 2024 – Vancouver, British Columbia -  Golden Lake Exploration Inc. (CSE: GLM) (“GLM” or the “Company”) (OTCQB: GOLXF) is pleased to announce that the Bureau of Land Management (United States Department of the Interior) has approved the Company’s Plan of Operations (PoO), authorizing preparatory and certain exploration activities including diamond drilling, to be undertaken on Golden Lake’s flagship Jewel Ridge property (the “Property”), located in the prolific Battle Mountain-Eureka gold trend of Nevada. 

“The Plan of Operations is a big asset for Golden Lake moving forward. We are very excited to get drilling our first 4 priority, deeper targets at Jewel Ridge, which to date has seen only shallow holes over the years" commented Mike England, Golden Lake CEO.

The Property is well-located proximal to infrastructure and is immediately adjacent to successful, high-profile exploration programs currently being undertaken by both i-80 Gold Corp. (IAU.TO) as well as North Peak Resources Ltd. (NPR.V), on their neighboring Ruby Hill and Prospect Mountain properties, respectively.

Acceptance of Plan of Operations:

The BLM acceptance of Golden Lake’s Plan of Operations (PoO NVNV105863070/Nevada Reclamation Permit No. 0421) initiates the bonding for approximately 15.5 acres of authorized exploration activities at Jewel Ridge, permitting among other things, the construction of new trails, roads and drill pads in accordance with BLM Surface Management Regulations.

Such activities will be completed prior to and during the undertaking of a planned 1,500-metre diamond drilling program at Jewel Ridge, anticipated to commence by mid to late September.

North Peak Resources Drilling Results at Prospect Mountain:

The approval of Golden Lake’s PoO and its upcoming drill program at Jewel Ridge are timely, in view of the encouraging drill results recently announced by North Peak Resources Ltd. at Prospect Mountain.

North Peak reported the results from the first 10 holes of its 2024 reverse-circulation drill program targeting the Wabash/Williams/Silver Connor historical mine areas (see North Peak’s news release dated August 14, 2024). Many of the drill holes completed by North Peak, among them PM24-004 & PM24-006, are situated within 200 metres from the western boundary of the Jewel Ridge property (see Figure 1). Drill hole assays include:

• 1.06 g/t Au & 12.30 g/t Ag over 126.5 metres (including 4.20 g/t Au & 71.00 g/t Au over 12.2 metres) in drill hole PM-24-004
• 1.38 g/t Au & 26.32 g/t Ag over 35.1 metres (including 2.03 g/t Au & 38.26 g/t Ag over 21.3 metres) in drill hole PM-24-00

Figure 1. Jewel Ridge property with North Peak data from PR released on Aug 14, 2024.

Current controls on gold mineralization at the Wabash/Williams historic mines are not conclusively known. Regardless of such controls, the wide encouraging drill intercepts recently obtained by North Peak within close proximity to the Jewel Ridge Property, augur well for Golden Lake.

Qualified person:

Golden Lake Exploration's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Don Hoy, P.Geo., who serves as a qualified person under the definition of National Instrument 43-101.  

About Golden Lake Exploration Inc:

Golden Lake Exploration 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

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