Golden Lake Results & New Sample

Radio Tower Target Confirmation Results And Newly Identified Target Sampled On The Jewel Ridge Property, Nevada

Vancouver, British Columbia – June 26th, 2020, Golden Lake Exploration Inc.  (CSE: GLM) (“GLM” or the “Company”) reports that it’s geological team has confirmed previous reported results on the Radio Tower target (Press Release May 14, 2020) and also has sampled a new mineralized zone designated as the A&E Target (historic results up to 29.49 g/t Au, 333.0 g/t Ag) on the company’s keystone Jewel Ridge gold property located near the town of Eureka, Nevada.

Highlights:

  • Radio Tower Target – sampling by Company personnel of dumps from adits, shafts, old trenches and outcrop have returned a median (based on gold values) of seven (7) samples of 1.93 grams gold per tonne Au g/t), 44.8 g/t silver (Ag), and 0.04 percentage copper (% Cu), 0.72 % lead (Pb) and 1.18 % zinc (Zn). Historic sampling acquired from a third-party reported on May 14, 2020 returned a median (based on gold values) of 0.39 g/t Au, 12.2 g/t Ag, 0.07 % Cu, 0.78% Pb and 0.92 % Zn from 9 samples in the area. While grab rock samples are not representative of the grade of mineralization of an occurrence, they are useful in determining prospectivity and geological features, and the comparison between the Company’s assays and the historic assays are supportive of a carbonate-replacement style of mineralization at the Radio Tower Target.
SAMPLE #TYPEAU G/TAu oz/tAG G/TAg oz/tCu %Pb %Zn %
EU-35RT rock, outcrop8.010.2341233.590.151.911.63
EU-36RT rock, outcrop5.790.1692487.230.232.501.50
EU-33RT dump, adit5.270.1541033.000.074.360.42
EU-34RT dump, adit1.930.05644.81.310.040.721.18
EU-37RT dump, adit1.310.0382396.970.370.410.66
EU-38RT dump, shaft0.060.0025.330.160.060.022.04
EU-26Magnet Ridge -dump0.020.00011.30.330.120.091.84
  • A & E Target – based on a compilation of the recently acquired historic third-party rock chip data base and geological reconnaissance by Company personnel, another prospective target has been identified. Highlights include values up to 29.49 g/t Au, 333.0 g/t Ag, 1.35 % Cu, 4.00% Pb and 9.53 % Zn. The median (based on gold values) of nine (9) samples on the two patented claims is 2.30 g/t Au, 47.4 g/t Ag, 0.18 % Cu, 0.20 % Pb and 0.62 % Zn.
SAMPLE #TYPEAU G/TAu oz/tAG G/TAg oz/tCu %Pb %Zn %
8087BJDUMP29.490.860181.05.280.080.810.40
8085BJDUMP11.690.341333.09.710.094.000.61
8089BJDUMP7.950.232223.06.500.390.921.44
8088BJDUMP7.700.225209.06.100.363.768.46
8082BJROCK2.300.06747.41.380.180.200.62
8084BJROCK0.480.01445.01.311.350.232.84
8083BJROCK0.300.00942.01.220.270.359.53
8080BJROCK0.250.0073.20.090.040.330.77
8081BJROCK0.020.0010.80.020.000.000.03

Designated as the A & E Target (based on the two patented claims) this area is located approximately 500 meters south-southeast of the Radio Tower Target. The A & E Target is also located approximately 300 meters southwest of the western edge of the South Eureka Tunnel zone (Carlin, oxide gold target)., and is approximately 185 meters (600 feet) higher in elevation. Significant historic mine dumps are scattered in the A& E area, interpreted to be from the “Sterling Mine” operations (note: limited historic data available), focused on carbonate-replacement style mineralization.

The A & E target has no known drill holes, but the area has been recently visited by Company personnel to determine the logistics of accessing the area during the Company’s forth coming RC (reverse circulation) drill program, planned for July 2020. Samples comprise grab rock samples from dumps of old mine workings and rock outcrop exposures. Grab rock samples are not representative of the grade of mineralization of an occurrence, but are useful in determining prospectivity, and geological features.

QA/QC

Golden Lake is reliant on ALS Labs in Reno, Nevada for its QA/QC as these are preliminary samples and limited in number.

Qualified person

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

About the Jewel Ridge Property

The Jewel Ridge property is located on the south end of Nevada’s prolific Battle Mountain – Eureka trend, along strike and contiguous to Barrick Gold’s Archimedes/Ruby Hill gold mine to the north and Timberline Resources’ advanced-stage Lookout Mountain project to the south.

The property comprises 96 unpatented lode mining claims and 30 patented claims covering approximately 728 hectares (1,800 acres). The Jewel Ridge property contains several historic small gold mines. The Company’s focus is on Carlin-style disseminated gold deposits, the primary focus in the area since the late 1970s.

Nevada Carlin-type gold deposits (CTGD) have a combined endowment of more than 250 million ounces, which are concentrated (85 per cent) in only four trends or camps of deposits: Carlin, Cortez (Battle Mountain-Eureka), Getchell and Jerritt Canyon. The Company cautions that results on adjacent and/or nearby projects are not necessarily indicative of results on the Company’s property.

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

FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995
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ollFree:1-888-945-4770

Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).

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