Golden Lake Exploration Inc. Completes Private Placement Financing

VANCOUVER, BC – Golden Lake Exploration Inc. (CSE: GLM), also known as GLM and trading on OTCQB as GOLXF, has successfully closed its previously announced non-brokered private placement on April 26, 2024. The company managed to issue 17,600,000 units at $0.05 each, gathering total gross proceeds of $880,000. Each unit consists of one common share and one transferable common share purchase warrant, which allows the holder to purchase additional shares at $0.07 each over the next 24 months.

The funds from this financing will support advancements at GLM’s Jewel Ridge property in Nevada and supplement general working capital. In association with the transaction, GLM paid finders' fees totaling $25,450 and issued 509,000 finders' warrants. These warrants are similar in terms to those granted to subscribers, but are non-transferable and hold a 12-month purchasing limit.

Additionally, the new shares will be bound by a four-month holding period as mandated by Canadian securities laws. This financing move aligns with GLM's ongoing efforts to develop its key mining projects and sustain its operational funding.