Golden Lake Exploration Announces Oversubscribed Financing Closed

VANCOUVER, September 13, 2024 - Golden Lake Exploration Inc. (CSE:GLM)(OTCQB:GOLXF)("GLM" or the "Company") is pleased to announce that further to its press release dated September 5, 2024, the Company has closed the non-brokered private placement. The Company issued 15,835,000 units (the "Units") at a price of $0.05 per Unit for aggregate gross proceeds of $791,750. Each Unit is comprised of one common share ("Share") and one transferable common share purchase warrant of the Company ("Warrant"). Each Warrant will entitle the Subscriber to purchase one Warrant Share for a 36-month period after the Closing Date at an exercise price of $0.07 per share.

Proceeds raised will be used for advancing the Company's Jewel Ridge property in Nevada as well as for general working capital.

Finders' fees of $34,425 cash and 896,000 non-transferable finders' warrants were paid to arm's length parties. Each finder's Warrant will entitle the finder to purchase one Warrant Share of the Company for a 12-month period after the Closing Date at an exercise price of $0.07 per share.

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

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
TollFree:1-888-945-4770

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

SOURCE: Golden Lake Exploration Inc.