Golden Lake Exploration Inc. announced the staking of an additional forty-six Bureau of Land Management ("BLM") lode claims totaling 924 acres near its Jewel Ridge project in Eureka County, Nevada. GLM now controls approximately 2,642 acres or approximately 10.7 square kilometers ("km") in the prolific Eureka mining district. The new claims were staked to secure ground on which the Company obtained high-grade precious and base metal values in preliminary sampling.

The property consists of unpatented lode claims that are 100% owned by the Company, without any royalty obligations or work commitments, and includes the historic Kentucky and Mountain Boy mines, as well as numerous small mines and prospects. Initial selective grab samples taken by the company's geological team have returned significant precious and base metal values of up to 1.73 grams gold per tonne (g/t Au), 698 grams silver per tonne, (g/t Ag), 1.47 % copper (% Cu), 6.66 % lead (Pb), and >30 % zinc (Zn). Table 1 lists the initial sample results.

Samples were collected from historic mine dumps and prospect pits. The samples are 100% oxidized gossan and are indicative of Carbonate Replacement Mineralization ("CRD"), typical of the historically mined mineralization in the Eureka District and currently being explored for at i-80 Gold's neighboring Ruby Hill property and other properties in the area. While grab rock samples are not representative of the grade of mineralization of an occurrence or target, they are useful in determining prospectivity and geological features.

The above rock samples were delivered by the company consulting geologist to the ALS prep facility in Elko, Nevada. All samples are analyzed for gold, silver and 48 other elements. Gold is determined by ALS method Au-AA23, which is a fire assay with an atomic absorption finish on a 30-gram split.

The remaining 48 elements are determined by ALS method ME-MS61, which is a four-acid digestion and inductively coupled plasma atomic emission spectroscopy assay, with ALS OG62 analysis four acid ore grade analysis for the over-limit samples. Golden Lake is reliant on ALS Labs in Reno, Nev., for its QA/QC protocol as these are preliminary samples and limited in number.