Goldsky Resources reports Q1 2026 results

Canada NewsWire VANCOUVER, BC , May 28, 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 three months ended March 31, 2026 ("Q1 2026"). Q1 2026 represented the first full quarter following the transformational acquisition of Mawson Finland Limited completed in December 2025. 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.

Q1 2026 Highlights: Cash balance increased to approximately C$86.1 million as at March 31, 2026 (December 31, 2025: C$84.4 million), providing the Company with a strong financial position to advance exploration and development activities across its Nordic portfolio. Total assets increased to approximately C$180.0 million as at March 31, 2026 (December 31, 2025: C$178.0 million). Exploration and evaluation assets remained at approximately C$91.5 million following the addition of the Rajapalot gold-cobalt project and other Finnish assets acquired through the Mawson transaction.

During the quarter, the Company incurred approximately C$3.7 million in exploration expenditure across its Nordic project portfolio. The Company reported a net loss of C$28.4 million for Q1 2026 (Q1 2025: C$6.1 million), primarily attributable to non-cash share-based compensation expense of approximately C$23.7 million associated with option grants completed following the Mawson acquisition and continued corporate growth initiatives. Excluding non-cash share-based compensation expense and working capital changes, cash utilized in operating activities during Q1 2026 was approximately C$5.9 million (Q1 2025: C$4.7 million), reflecting increased exploration and corporate activities across the Company's expanded asset base.

Operational Highlights: The Company continued advancing exploration programs across Sweden and Finland following the completion of the Mawson acquisition in December 2025. At the Rajapalot gold-cobalt project in northern Finland, drilling and exploration activities continued to focus on resource expansion, infill drilling, and regional target development. By the end of March 2026, the Company had completed the drilling program at Rajapalot, having drilled approximately 10,429 metres.

Environmental impact assessment ("EIA") and land use planning processes at Rajapalot continued to advance during the quarter, including engagement meetings with local authorities and stakeholder groups in both Finland and Sweden related to the Rajapalot and Barsele projects. Corporate Highlights: During Q1 2026, the Company received proceeds of approximately C$7.6 million from the exercise of stock options, compensatory options, and warrants. The Company's shares commenced trading under its new corporate name, Goldsky Resources Corp., following the name change completed in December 2025.

The Company continued integration activities relating to the Mawson acquisition and further strengthened its technical and operational platform across the Nordic region. Subsequent Events: Subsequent to quarter-end, the Company continued progressing the proposed acquisition of the remaining 55% interest in the Barsele Gold Project. Closing of the Transaction remains on track to occur during Q2, 2026 and no later than June 30, 2026.

Financial Reporting and Additional Notes: The Company's unaudited condensed consolidated interim financial statements and MD&A for the three months ended March 31, 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 Barsele gold project in central Sweden, in which it has entered into a transaction to become the 100% owner from Agnico Eagle. 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.

Follow Goldsky Resources: X: https://x.com/goldskyir YouTube: https://www.youtube.com/@goldskyir LinkedIn: https://www.linkedin.com/company/goldskyir Facebook: https://www.facebook.com/goldskyir Instagram: https://www.instagram.com/goldskyir 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 uncertainties, the actual results or outcome could differ materially from those set out in the forward-looking statements as a result of many factors. Such risks, uncertainties, contingencies, and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The Company does not guarantee that the assumptions underlying the forward-looking statements in this news release are free from errors and readers of this news release should not place undue reliance on the forward-looking statements in this press release.

The information, opinions and forward-looking statements that are expressly or implicitly contained herein speak only as of the date of this news release and are subject to change without notice. Neither the Company nor anyone else undertake to review, update, confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this news release, unless it is required by law or Nasdaq First North Growth Market Rulebook for Issuers of Shares. SOURCE Goldsky Resources Corp. View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2026/28/c6474.html Canada Newswire May 28, 2026 - 4:00 PM PDT News by QuoteMedia www.quotemedia.com