Gold Explorer Reports High-Grade Infill Results Ahead of Finland Resource Update

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1. Ownership and Share Structure Information

Ownership percentages, named holders, share count, market capitalization, and the 52-week range for Goldsky were compiled from the company's public filings and investor materials, exchange notices, insider-trade reports (SEDI / equivalent), and third-party data providers. Figures are as of 2026-10-30 unless a source was dated earlier. Pie slices are normalized to 100% of basic shares outstanding; retail is the residual after disclosed institutions, management, insiders, and strategic holders. Warrant terms are current outstanding series only. Restructures are historical consolidations, splits, and symbol or name changes. Insider buying and selling covers open-market trades from 2026-04-30 through 2026-10-30 and excludes option exercises. These are public-source estimates and can differ from a later official register.

Goldsky Resources Corp. (GSKR:TSXV; GSKRF:OTCQX; HEG0:FSE; GSKR SDB:FNSE) reported assay results from its 2026 winter drill program at the 100%-owned Rajapalot Gold-Cobalt Project in Northern Finland on October 27, 2026. Highlights included 12.6 meters (m) grading 233.56 grams per tonne (g/t) gold (Au), uncut, at the Raja zone and 17.35 m grading 16.46 g/t Au at Palokas. The company said the results will support an updated Mineral Resource Estimate (MRE) and Preliminary Economic Assessment (PEA).

The program comprised 45 new diamond drill holes totaling 10,385 m and an extension of a previously drilled hole. Of the 46 holes reported, 37 were infill holes within or along the margins of the existing Inferred Mineral Resource, while eight tested exploration targets. Goldsky reported significant intercepts in 32 of the 37 infill holes. The infill holes were generally spaced 20 m to 45 m from previous drill intercepts, with grades and thicknesses comparable to adjacent results, according to the release.

Key Investor Takeaways

• Goldsky reported high-grade 2026 infill results at Rajapalot, including 12.6 m grading 233.56 g/t Au, uncut, at Raja and 17.35 m grading 16.46 g/t Au at Palokas.
• Applying the 50 g/t top cut used in the current resource estimate reduced the Raja and Palokas intercept grades to 14.19 g/t and 13.54 g/t Au, respectively.
• The program comprised 45 new holes totaling 10,385 m and one extension. Significant intercepts were reported in 32 of 37 infill holes.
• Independent consultant SLR is completing the updated Rajapalot Mineral Resource Estimate, expected in early November 2026, which is intended to support a revised PEA.
• Goldsky commenced a 25,000 m drilling campaign at Barsele in September 2026, targeting the Skiråsen, Central, and Avan zones.
• Metallurgical testing at Barsele returned estimated gold recoveries of 89.6% for Central and 90.8% for Avan.

Latest News: 2026 Infill Drilling Results

At Raja, hole PAL0433 intersected 12.6 m grading 233.56 g/t Au, uncut, and 881 parts per million (ppm) cobalt (Co) from 219.90 m. The interval included a 1.0 m sample grading 2,800 g/t Au within a 3.0 m section grading 969 g/t Au. Goldsky also reported the result using the 50 g/t top cut applied in the current MRE, which reduced the composite grade to 14.19 g/t Au over 12.6 m. The company noted that the exceptionally high-grade sample accounted for approximately 95% of the gold in the composite.

At Palokas, hole PAL0406 returned 17.35 m grading 16.46 g/t Au and 652 ppm Co from 97.65 m. Applying the 50 g/t top cut reduced the interval's gold grade to 13.54 g/t. Goldsky identified PAL0406 as the highest grade-thickness intercept reported from Rajapalot on a top-cut basis, measured in gram-meters by multiplying gold grade by downhole interval length. The interval included 5.5 m grading 28.24 g/t Au and a separate 4.1 m section grading 28.36 g/t Au. These figures are detailed in the company's drill results announcement.

Other reported intercepts included 6.15 m grading 24.16 g/t Au and 15.4 m grading 7.67 g/t Au at Raja. At Palokas, hole PAL0403 returned 16.2 m grading 5.14 g/t Au. At the eastern margin of South Palokas, hole PAL0399 intersected 8.15 m grading 3.40 g/t Au, including 2.15 m grading 11.84 g/t Au. 

The reported intervals are downhole lengths, rather than confirmed true thicknesses. Goldsky has interpreted true thicknesses as approximately 80% to 90% of drilled intervals based on the current mineralization-lode orientation, while noting that true thickness is not yet precisely known. The company also stated that the reported uncut grades do not apply an upper limit to individual gold assays; top-cut figures use a 50 g/t limit before compositing.

Analysts Call Out Mining-Friendly Jurisdiction

Hannam & Partners analysts maintained a CA$8.50 price target for Goldsky in an October 28 research report following the company's 2026 infill drilling program. Based on the October 27 closing share price of CA$2.72, the target implied approximately 213% upside. Hannam & Partners identified deeper extensions of the existing orebodies as the project's primary source of potential upside.

The report stated that the mineralized system remains open at depth and highlighted additional potential at South Palokas, Raja, and the relatively shallow Joki East deposit. The analysts also noted that cobalt mineralization across all three zones could strengthen the project's potential to receive EU Strategic Project status, which could facilitate permitting and funding.

"We believe that Rajapalot is a developable standalone project in a mining-friendly jurisdiction," the analysts wrote.

The analysts also pointed to Goldsky's CA$58 million treasury balance as of mid-September as support for continued exploration and project advancement. They identified upcoming exploration results and progress on studies at Barsele and Rajapalot as potential near-term share-price catalysts.

The Paydirt Prospector's Daniel Flynn and Jeff Clark cited the quality of results, writing, "These weren’t just flashy exploration hits. The drilling was largely about improving confidence in an existing resource." They gave a "Buy" recommendation and said, "There are now major resource and economic catalysts approaching at Rajapalot, alongside drilling and much-anticipated economic work at Barsele. If those deliver, there’s plenty of scope for further re-rating—particularly when gold bounces back."

Other recent analyst ratings from Tipranks include:

• On October 28, 2026, Ryan Walker of Stifel Nicolaus reiterated a "Buy" rating and CA$6.20 price target.
• On October 27, 2026, Allison Carson of Desjardins initiated a "Buy" rating and CA$7.00 price target.
• On October 10, 2026, Philip Ker of Canaccord initiated a "Buy" rating and CA$5.50 price target.

Project Update and Next Steps

Goldsky said the updated geological and resource model has been submitted to independent consulting firm SLR for the MRE. The company expects the updated estimate in early November 2026, with the results intended to support a revised PEA. The company has also applied to extend the Kairamaat 2-3 exploration permit, which covers the core area of Rajapalot.

The infill program was designed to increase confidence in the existing Inferred Mineral Resource and support a mining license application and updated economic study. CEO Russell Bradford said the new holes supported the interpreted lodes at grades and thicknesses broadly consistent with the current resource model. He also said the company expected the Mineral Resource update in the coming weeks, followed by an updated PEA.

Goldsky is also advancing its 100%-owned Barsele Gold Project in Sweden. On September 22, the company announced the start of a 25,000m diamond drilling program, targeting the Skiråsen, Central and Avan zones. The company said the existing Mineral Resource remains open along strike and at depth, and that the program is intended to upgrade and extend the resource. Goldsky expects the drilling to support an updated Mineral Resource estimate in 2027, according to its Barsele drilling announcement.

The company also reported metallurgical test results from Barsele on September 21. Testing of composite samples from the Central and Avan deposits returned estimated overall gold recoveries of 89.6% and 90.8%, respectively. The results were based on gravity concentration and cyanide bottle-roll leach testing conducted by Alfred H Knight Laboratory in the United Kingdom. Goldsky said the metallurgical work forms part of the program supporting a PEA for Barsele. The company noted that the results were interim and that additional metallurgical testing was continuing. 

Common Questions from Investors

What did the latest Rajapalot drill results show?

Goldsky's October 27, 2026 release reported multiple high-grade intercepts from its 2026 winter infill program. Highlights included 12.6m grading 233.56 g/t gold uncut at Raja and 17.35m grading 16.46 g/t gold at Palokas. Applying the 50 g/t top cut used in the current resource estimate reduced those grades to 14.19 g/t and 13.54 g/t gold, respectively. The results are detailed in the company's announcement.

When is the next Rajapalot resource update expected?

Goldsky expects independent consultant SLR to complete the updated Mineral Resource estimate in early November 2026. The revised estimate is intended to support an updated PEA, according to the October 27 release.

How does the new drilling compare with previous results?

Goldsky said the infill holes generally returned grades and thicknesses comparable to adjacent previously reported intercepts. The company reported significant intercepts in 32 of 37 infill holes, which were typically spaced 20m to 45m from previous drill intercepts. PAL0406 at Palokas was identified as the project's highest grade-thickness intercept on a 50 g/t top-cut basis, according to the company's drill results.

What is the status of Goldsky's Barsele project?

Goldsky holds 100% ownership of the Barsele Gold Project in Sweden and began a 25,000m diamond drill program there in September 2026. The campaign is targeting the Skiråsen, Central, and Avan zones, where the existing Mineral Resource remains open along strike and at depth. The company also reported estimated overall gold recoveries of 89.6% for Central and 90.8% for Avan in September metallurgical testing. These details are available in the drilling announcement and metallurgical results.