NEWS RELEASE

GOLDEN SPIKE CONCLUDES DEBT SETTLEMENT TRANSACTION

Vancouver, British Columbia, August 7, 2026 – Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) (Frankfurt: LSY) ("Golden Spike" or the "Company") Further to its announcement on July 30, 2026, the Company has issued 1,720,000 common shares (each, a "Share") at $0.05 per Share as settlement of indebtedness with three directors and the corporate secretary of the Company totalling CAD$86,000 (the "Transaction").

The Company determined to satisfy this outstanding indebtedness with Shares to preserve its cash for operations. All Shares issued pursuant to the Transaction will be subject to a four-month and one-day hold period expiring on December 8, 2026.

About Golden Spike

Golden Spike Resources Corp. (CSE:GLDS), (OTCQB: GSPRF), (Frankfurt: LSY) is a Canadian mineral exploration company focused on identifying, acquiring and unlocking value in mineral opportunities in Canada and other low-risk jurisdictions. The Company currently holds 100% interest in the 5,175-hectare Gregory River Property in Newfoundland, strategically centered over an approximate 11-kilometre-long stretch of the Gregory River VMS-belt, a north-northeast trending corridor of very prospective ground with potential to host Cyprus-type polymetallic VMS deposits. In addition, the Property hosts a cluster of historically explored, high-grade, copper +gold-zinc vein structures and brecciated stockworks. Golden Spike Resources remains dedicated to sustainable exploration practices and continues to collaborate with local communities, consultants, and stakeholders as it progresses its exploration initiatives.

For further information, please contact: Ryan Connacher, CEO, Golden Spike Resources Corp. Tel: +1 (647) 983-7458, Email: ryan@freeportrecovery.ca or info@goldenspikeresources.com

ON BEHALF OF THE BOARD OF DIRECTORS

Ryan Connacher, CEO
Golden Spike Resources Corp.
830 - 1100 Melville St., Vancouver, BC, V6E 4A6

Website: https://www.goldenspikeresources.com

"Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this release."

Cautionary Note Regarding Forward-Looking Statements

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" occur.