Golden Sky Minerals (OTC: LCKYF / TSXV: AUEN) announced that the TSX Venture Exchange has approved its Option and Joint Venture Agreement with Boliden Minerals Canada Ltd. Under the agreement, Boliden can earn up to 80 % of the Rayfield copper‑gold property by paying CDN 1,000,000 in cash over five years and funding up to CDN 19,000,000 in exploration over six years.
After the earn‑in, a joint venture will be formed and Rayfield will be combined with Boliden’s adjacent Gjoll property. If any party’s interest falls below 10 %, the remaining stake converts to a 1.0 % net smelter returns (NSR) royalty on the combined Rayfield‑Gjoll property, subject to a CDN 15,000,000 aggregate royalty cap. No NSR is currently outstanding.
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Positive
- Boliden can earn up to 80 % interest in Rayfield
- Earn‑in funding of up to CDN 19,000,000 for exploration
- Upfront cash payments totaling CDN 1,000,000 over five years
- Combines Rayfield with Boliden’s adjoining Gjoll property
Negative
- Dilution below 10 % converts interest into a 1.0 % NSR
- Aggregate NSR payout capped at CDN 15,000,000, which may limit upside
- NSR could arise on future dilution and reduce JV returns
Strategic Implications and Technical Outlook
The Rayfield‑Gjoll corridor sits within a well‑established mining‑friendly district in south‑central British Columbia, an area known for high‑grade copper‑gold systems associated with porphyry intrusions. Boliden’s willingness to fund up to CDN 19 million in exploration underscores its confidence in the geological model, which predicts multiple conduit‑type deposits that could be amenable to both open‑pit and underground mining.
From a capital allocation perspective, the earn‑in structure spreads Boliden’s exposure over a five‑year horizon, minimizing upfront risk while granting Golden Sky immediate access to a partner with deep technical expertise and a robust supply chain. The 1 % NSR clause serves as a protective mechanism for the junior, ensuring that even if dilution occurs, the company retains a revenue stream tied to future production—albeit capped at CDN 15 million.
Market participants should monitor a few key variables:
- Progress on drilling results from the combined Rayfield‑Gjoll targets, especially any indication of high‑grade intercepts that could accelerate a resource estimate.
- Commodity price trends for copper and gold, which directly affect the project’s discounted cash flow and the economic viability of a potential mine.
- Regulatory timelines in British Columbia, including any environmental assessments required for a full‑scale development.
Should Boliden meet its funding commitments and achieve the desired geological milestones, the joint venture could position the Rayfield‑Gjoll project as a mid‑tier copper‑gold producer, potentially delivering multi‑million dollar royalties to Golden Sky. Conversely, failure to secure the required capital or adverse drilling results could trigger the NSR conversion, limiting upside but preserving a baseline cash flow.
Vancouver, British Columbia—(Newsfile Corp. – November 27, 2025) Golden Sky Minerals Corp. (TSXV: AUEN) (OTC Pink: LCKYF) announced that it has received approval from the TSX Venture Exchange for its Option and Joint Venture Agreement with Boliden Minerals Canada Ltd. The company also supplied supplemental disclosure on the net smelter returns royalty (NSR) as requested by the Exchange.
This release follows earlier announcements on September 3 and November 17, 2025 that outlined the key terms of the agreement and confirmed shareholder approval.
Under the agreement, Boliden may earn up to an 80 % interest in the Rayfield copper‑gold property in south‑central British Columbia by making cash payments totaling CDN 1,000,000 over five years and providing up to CDN 19,000,000 for exploration over six years. Upon completion of the earn‑in, the Rayfield property will be merged with Boliden’s adjoining Gjoll property to create a combined joint venture.
If a joint‑venture participant’s interest falls below 10 %, the remaining stake automatically converts into a 1.0 % NSR royalty on the Rayfield‑Gjoll property, subject to a maximum aggregate royalty of CDN 15,000,000. The NSR is not an immediate liability; it only materializes upon dilution below the threshold, and no NSR is presently payable.
The transaction is conducted at arm’s length with no finder’s fees paid.
About Golden Sky Minerals Corp.
Golden Sky Minerals Corp. is a well‑funded junior explorer focused on acquiring, assessing, and developing mineral properties in highly prospective and mining‑friendly regions. Its portfolio includes the Rayfield‑Gjoll copper‑gold project in British Columbia, the Hotspot and Luckystrike gold projects in Yukon, and the Auden gold project in Ontario’s Timmins camp. Founded in 2018 and headquartered in Vancouver, the company aims to create shareholder value through the discovery and development of world‑class mineral deposits.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward‑Looking Information
This news release contains forward‑looking information as defined under Canadian securities legislation. Such information includes statements about the final acceptance of the TSX Venture Exchange, Boliden’s ability to complete the earn‑in and fund exploration, the formation and operation of the joint venture, the potential application of the NSR, and the exploration and development plans for the Rayfield‑Gjoll property and other projects. These statements are based on assumptions that the company believes reasonable as of the date of this release but are subject to known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially. Risks include, among others, exploration outcomes, commodity price fluctuations, regulatory approvals, title issues, financing requirements, and broader economic conditions. Further details can be found in the company’s continuous disclosure filings on SEDAR.
FAQ
What did Golden Sky announce on November 27, 2025 regarding Boliden?
Golden Sky said the TSX Venture Exchange approved its Option and Joint Venture Agreement with Boliden, allowing Boliden to earn up to 80 % of Rayfield.
How much must Boliden spend to earn an 80 % interest in Rayfield?
Boliden must pay CDN 1,000,000 in cash over five years and fund up to CDN 19,000,000 in exploration over six years.
What happens if a joint venture partner is diluted below 10 % on the Rayfield‑Gjoll JV?
Any remaining interest automatically converts into a 1.0 % NSR on the Rayfield‑Gjoll property, subject to a CDN 15,000,000 aggregate cap.
Is any NSR currently payable to Golden Sky?
No. The company stated that no NSR is outstanding or payable at present.
Will Golden Sky pay finder’s fees for the Boliden transaction?
No. The company said the transaction is arm’s length and no finder’s fees are being paid.
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