Golden Lake Exploration Announces Oversubscribed Financing Closed

Golden Lake Exploration Inc. (CSE:GLM)(OTCQB:GOLXF) has successfully closed a non-brokered private placement, raising $791,750. The Company issued 15,835,000 units at $0.05 per Unit. Each Unit includes one common share and one transferable common share purchase warrant. The warrant allows the purchase of an additional share at $0.07 within 36 months post-closing.

Proceeds will support the advancement of the Jewel Ridge property in Nevada and general working capital. Finders' fees included $34,425 in cash and 896,000 non-transferable warrants, exercisable at $0.07 per share for 12 months post-closing.

Shares from the financing will be subject to a four-month hold period under Canadian securities laws.