Golden Lake Exploration Inc. announced the results of surface rock sampling undertaken on its Jewel Ridge property (the "Property"), located in the prolific Battle Mountain-Eureka gold belt of Nevada. The Property is situated along structural and stratigraphic trend from Paycore Mineral's FAD deposit and I-80 Gold's Ruby Deeps, Hilltop, Blackjack and Archimedes deposits, all located immediately to the north of the Company's Jewel Ridge property. While completing geological mapping during the 2021 and 2022 field seasons, a total of 586 rock samples were collected for examination and assay1.

The samples were collected from outcrop, float and rock dumps, situated over large a part of the Property. The best and most encouraging results were obtained over the western half of the Jewel Ridge land holdings. Outstanding assays in all of gold, silver and Pb+Zn, highlight the prominent carbonate replacement deposit (CRD) mineralization associated with the Hamburg dolomite-Dunderberg shale contact at the Atlas shaft (8), Dunderberg decline (9), Catlin shaft (11) & Uncle Sam tunnel (14).

Along this favorable one kilometre-long stratigraphic and structural trend, maximum values of 45.2 g/t Au, 547 g/t Ag & 25.2% Pb+Zn were obtained, attesting to the high-grade nature of CRD mineralization. Notably, the Hamburg dolomite is one of the most important litho-types for hosting CRD mineralization, given its brittle nature of deformation and favourable chemical properties. The Eureka Tunnel locale (4) yielded high-grade assays over a 400-metre long trend, returning up to 11.2 g/t Au, 1,460 g/t Ag & 4.6% Pb+Zn.

At this particular occurrence, CRD mineralization is known to have been overprinted by a younger Carlin-style event, resulting in an enrichment or higher-grade tenor to precious-metal mineralization. Encouraging results were also obtained on the Elise and Lord Byron patents, close to the Alexandra shaft (6) and Sterling tunnel (7) occurrences. Here, a clustering of samples returned best values of 6.6 g/t Au, 459 g/t Ag & 5.0% Pb+Zn from CRD mineralization.

Diamond drilling has never been completed in this area of the Property. The Adelphi patent situated to the west of the Jewel Ridge property, returned excellent results from very limited sampling. Assay values of up to 38.6 g/t Au, 118 g/t Ag & 4.1% Pb+Zn were obtained, pointing to significant, largely untapped CRD mineralization potential in the El Dorado dolomite, in this area.

Mineralized mantos in this locale are structurally controlled and appear to be related to the Silver-Connor fault and a NNW-trending fault.