Golden Lake Update on Activities at the Copperview Property Adjacent to Kodiak Copper Corp.'s MPD Property, BC

VANCOUVER, BC / ACCESSWIRE / September 7, 2021 / Golden Lake Exploration Inc. (TSXV:GLM) ("GLM" or the "Company") is pleased to provide an update of activities on the Copperview Property, located contiguous to the north, south, and west of the "MPD Property" owned by Kodiak Copper Corp. ("Kodiak") (TSX-V: KDK). Field activities have continued over the summer including soil and rock geochemistry, a MT Mobile geophysical airborne survey and prospecting and geological mapping.

Samples have been collected by an independent contractor team at the Mob-8 Minfile showing (Minfile 092HNE154, BC government designation) as well as a total of 57 rock samples taken over the Deadman Lake area of the West Copperview claims. In addition, 230 soil samples were taken over the same area, with assay results pending.

Mike England, president of Golden Lake, states: "While drilling and sampling is ongoing at our flagship Jewel Ridge project in Nevada we have also been advancing our Copperview project in BC. We are eager to receive further results from Jewel Ridge as well as results from ongoing Copperview programs imminently."

Figure 1. Location map of the MOB - 8 Showing and MT Mobile Geophysical Survey

MobileMT Geophysical Survey

Expert Geophysics Limited (EGL) conducted a helicopter-borne MobileMT electromagnetic and magnetic survey in June 2021 over the Company's North Copperview and South Copperview claims. The purpose of the survey was mapping bedrock structure and lithology, including possible alteration and mineralization zones, observing apparent conductivity corresponding to different frequencies, inverting EM data to obtain the distribution of resistivity with depth, and using VLF EM and magnetic data to study properties of the bedrock units. A total of 9 production flights were flown to complete 1072 line-kilometers of the survey over two blocks; North Block with 770 line-kilometers of the survey over a 155 sq.km area; South Block with 302 line-kilometers of the survey over a 115 sq.km area.

The MobileMT data is continuing to being reviewed and assessed by the Company's contract geophysicist, however two significant targets have been identified on the North Copperview claims, the Conglin Creek Target and the Vinson Lake target.

Conglin Creek Target

The Conglin Creek Minfile showing area covers a strong magnetic high anomaly with a resistivity low and conductivity high, southwest and southeast of Missezula Lake. The Conglin Creek Minfile showing is located approximately 6 kilometers northwest of the Gate and Prime zones on Kodiak's MPF property. A soil geochemistry survey completed by the Company returned copper-in-soils values up to 345 parts per million ("ppm") and anomalies (defined by 100 and 200 ppm Cu) correlate well with historic soil survey over the same area. Additional historic geochemical data was also compiled from the 1990s and the strong copper-in-soil anomaly has a strike length of greater than 3 kilometers and is open to the south-east. The Conglin Creek geochemical and geophysical anomalies will be high priority targets for diamond drilling.

Vinson Lake Target

On the south-eastern portion of the North Copperview claims, the MTMobile geophysics has indicated a arcuate, north-east-trending, low resistivity anomaly with excellent depth continuity, coincident with a distinct magnetic low feature. A compilation of assessment data indicated scattered gold and copper soil anomalies in the area south and east of Vinson Lake. Recently the company has completed prospecting, geological mapping, and soil geochemistry over the geophysical anomalies and assays are pending.

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. 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.

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.

ON BEHALF OF THE BOARD

"Mike England"

Mike England, CEO & DIRECTOR

FOR FURTHER INFORMATION PLEASE CONTACT:Telephone: 1-604-683-3995Toll Free: 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 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).

SOURCE: Golden Lake Exploration Inc.