Gold Line Resources Ltd.

Company Data | Introduction | Projects in Hand | Management
News Update | Chinese

Company Data

Introduction

Gold Line Resources is focused on acquiring mineral properties with exceptional exploration potential in the most prolific gold-producing regions of Sweden and Finland. Gold Line is working in two of the world’s top mining jurisdictions and emerging exploration frontiers due to their strong mineral endowment, stable tenure, straightforward permitting, favourable tax regime and supportive geopolitical landscape.

Gold Line currently holds a prospective portfolio of gold exploration projects in Sweden and Finland. In Sweden projects are located in the Gold Line Mineral Belt and Skellefteå Belt of northcentral Sweden, and the Mjøsa-Vänern Belt in southwest Sweden. In Finland Gold Line holds the entire underexplored Oijärvi Greenstone Belt located in northern Finland.

Investment Considerations

Strategically positioned in Sweden and Finland’s ‘Gold Rush’

• Largest land position by an exploration company in the heart of Sweden’s Gold Line Belt
• Key land asset in Finland’s burgeoning gold district
• Underexplored land packages in belts with known endowment
• Sweden and Finland are stable jurisdictions with good infrastructure, low-cost power
• Security of tenure and clear permitting requirements with well established mining codes
• Sprott Group, Agnico Eagle Mines & EMX Royalty new strategic investors
• Follow up exploration on discovery hole at Paubäcken Aida Target (22.5 m @ 2.4 g/t Au including 9.5 m @ 4.6 g/t Au PAU21003)
• Aggressive 2022 exploration program at Paubäcken, Klippen, and Oijärvi Projects aimed at systematically advancing targets toward discovery

Projects in Hand

Prospective Exploration Portfolio

6 Early- And/Or Advanced-Stage Exploration Properties

* 2022/2023 Priorities

Sweden Properties

Gold Line Mineral Belt

• Paubäcken Project*
• Storjuktan Project
• Blåbärliden Project

Southern Gold Line Mineral Belt

• Klippen Project

Southwestern Sweden

• Solvik Gold Project

Finland Properties

• Oijärvi Gold Project*
• Kylmäkangas Au Deposit
• Incl. Historical Inferred Resource
• Kompsa Au Occurrence
• Karahka Au Occurrence

Paubäcken Project, Gold Line Belt, Sweden

Paubäcken Overview

• 100% Gold Line Resources Ownership
• The Project consists of 3 licenses covering 17,097 hectares in central Gold Line Belt
• The Gold Line Belt is host to several significant gold deposits, including the nearby Barsele project as well as the Svartliden mine and Fäboliden development project.
• The Project is strategically positioned between Barsele and Fäboliden, is a few hundred meters northeast of the Svartliden mine.
• The Project contains over 20 kilometres of the regionally significant “Gold Line” structure corridor which can be traced for over 200 kilometres in regional geophysics data.
• Underexplored – Very limited historical drilling
• Kilometric-scale Au geochem anomalism
• Multiple high priority targets along splays off main structural corridor

The Paubäcken Project consists of three main target zones, Aida, Belle and Harpsund. Summer work programs continued systematic exploration of the target areas.

Paubäcken 2022 Exploration Program

Systematic Exploration Approach over Identified Structural Corridors to Reduce Search Space & Step Out On Known Mineralisation

Geophysics – March 2022

Targeting and ranking – April 2022

Geochemical sampling – June-August 2022

Drilling – July-October 2022

On October 4, 2022, Gold Line announced commencement of a diamond drilling program at the Paubäcken project. The Company plans to complete up to 1,500 metres of diamond drilling at the Aida target on the Project using one drill rig. The program is designed to test over 800 metres of identified structural corridor coincident with anomalous top of bedrock gold and pathfinder anomalism. The program will step out on the 22.5 m @ 2.4 g/t Au intercept (see Dec. 27, 2021 news release) to understand size, geometry, and structural controls of mineralization along the Aida structural corridor.

Oijärvi Gold Project, Finland

Oijärvi Greenstone Belt

Belt-Scale Exploration Opportunity in Finland

One of Finland’s least studied greenstone belts

• 100% Interest (from Agnico Eagle Mines Ltd. June 2021)
• Gold Line holds Exploration Reserve permits over entire ~17,600 ha belt
• Known endowment at Kylmäkangas and multiple other targets
• Multiple untested geophysical targets along identified structural corridors and splays

Maiden Indicated and Inferred Resource for the Kylmäkangas Gold Deposit (June 10, 2022)

• Total maiden Indicated Resource of 159,000 Au equivalent (AuEq) ounces: 1.07 Mt grading 4.6 g/t AuEq.
• Total Inferred Resource of 152,000 AuEq ounces: 1.63 Mt grading 2.9 g/t AuEq.
• Significant expansion potential in multiple directions along strike, down plunge, down dip and within parallel zones.

Oijärvi Belt Next Steps

2 Year Plan

Generate value through increasing existing resource and making new discoveries

• Expand and upgrade existing Kylmäkangas resource
• Identify and test high priority targets along Kylmäkangas corridor
• Systematically explore regional targets within belt and make material new discoveries

Klippen Project, Sweden

Klippen Overview

Kilometric-scale Au and Pathfinder Anomaly

Largest Au anomaly in Gold Line portfolio

• 100% ownership
• 3,860 ha 100% owned and 5,550 ha under application in 2 licences in southern Gold Line Belt
• Largest and most cohesive Au in till anomaly within the Gold Line Projects
• Displays criteria associated with large hydrothermal mineral systems
• Main portion of anomaly untested
• Individual historic core assays up to 31.4 g/t Au

Klippen 2022 Exploration

Systematic Exploration Approach to Discover Bedrock Source

Geophysics – May 2022

Targeting and Ranking – May 2022

• Identification of additional high priority target areas

Field Mapping – May 2022

Geochemical Sampling – June-August 2022

Drilling – August 2022

Management

Management and Directors

Adam Cegielski, Chief Executive Officer & Director

Mr. Cegielski has over 20 years of experience in the venture capital industry ranging from mineral exploration, technology, health care and education. He started his career developing an industrial mineral project in Uganda that he later sold to Rio Tinto. Mr. Cegielski was the founding director of Cayden Resources, which was sold to Agnico Eagle Mines for $205 million.

Benjamin Gelber, Vice President of Exploration

Mr. Gelber is a professional geologist with over 17 years industry experience specializing in orogenic gold systems, garnering a deep understanding of geological and structural controls on mineralization in orogenic systems at all scales. He was previously with Barrick Gold Corporation as Exploration Manager, Guyana.

Toby Pierce, Chairman

Mr. Pierce is a natural-resource executive with more than 21 years of extensive transactional and valuation experience in deal sizes ranging from several million to $1.3 billion in value. He is the current CEO of TAG Oil Ltd.

Eric Jensen, PhD, Director

Dr. Jensen has over 26 years of industry experience and is the General Manager of Exploration at EMX Royalty Corporation.

Joel Shacker, Director

Mr. Shacker has worked extensively in the Canadian public markets and finance space over the past six years and is currently the CEO of Core One Labs Inc.

News Update

On October 27, 2023, Gold Line Resources Ltd. announced that it has completed the first tranche of its non-brokered private placement (the "Financing") and has issued 10,730,000 units (each, a "Unit"), at a price of $0.10 per Unit for gross proceeds of $1,073,000 (all figures in the current release are in Canadian dollars).

Gold Line intends to use the proceeds from the Financing for drilling and other exploration activities and general working capital purposes.

On September 26, 2023, Gold Line Resources Ltd. has appointed Gernot Wober to the company's advisory board.

Mr. Wober is a professional geologist (P. Geo.) and has over 32 years of international resource exploration experience. Mr. Wober is currently VP Exploration for Discovery Silver Corp. where he started in 2018, and in 2019 identified the Cordero silver deposit in Chihuahua, Mexico for acquisition. Previously, he served as VP Exploration, Canada, at Osisko Mining Inc. ("Osisko"), during which time he took part in several key mergers and acquisitions and led the team through the advancement of the Windfall gold deposit and the discovery of the new Lynx Zone. Other roles Mr. Wober has held include VP Exploration for Oban Mining Corporation, Director of of Site Operations for the Pebble project in Alaska with the Pebble Limited Partnership, VP Exploration for Great Basin Gold Ltd., and various exploration roles with Chevron Canada Resources Limited, Noranda Exploration Company Limited, and Taseko Mines Limited.

President and CEO Taj Singh commented, "We are very pleased to have Gernot join the Gold Line Advisory Board. Gernot has a deep understanding of orogenic gold deposits, their economic potential and modern exploration techniques. He has had significant experience and success working in greenstone geological settings similar to those found at Gold Line's projects. Having previously worked closely together with Gernot before I am excited to now bring him on at Gold Line. In my opinion, he is one of the top exploration minds in our sector. His impressive profile adds to our already strong and experienced geological team here and is highly encouraging for the future of our promising project portfolio."

On September 21, 2023, Gold Line Resources Ltd. has arranged a non-brokered private placement of up to 20 million units at a price of 10 cents per unit for proceeds of up to $2-million. Gold Line intends to use the proceeds from the financing for drilling and other exploration activities, as well as for general working capital purposes.

On September 20, 2023, Gold Line Resources Ltd. has provided an update on exploration activities on its 100-per-cent-owned Paubacken and Storjuktan projects located in the Gold Line belt, northern Sweden. The summer 2023 exploration was designed to progress existing targets and identify additional targets through execution of systematic exploration programs consisting of regional till sampling and base-of-till / top of bedrock ("BoT") drilling.

Taj Singh, President and CEO states: "The 2023 summer exploration program was focused on target generation within our exciting district-scale flagship Paubacken and Storjuktan projects within the Gold Line belt in Sweden. We are eagerly anticipating results from the systematic program and have high hopes they will deliver additional high priority targets which we plan to follow up on with additional base-of-till drilling in the following months."

On September 08, 2023, Gold Line Resources Ltd. has appointed Taj Singh as president, chief executive officer and a director of the company. Mr. Singh's appointment is effective immediately and will be supported by outgoing CEO Adam Cegielski, who will continue to serve on the company's board of directors.

Mr. Singh brings over 22 years of mining and resources industry experience, including roles as founding president and CEO of publicly listed companies NOA Lithium Brines Inc. and Discovery Silver Corp.

On May 05, 2023, Gregory McCunn has resigned from the board of directors of Gold Line Resources Ltd., effective immediately, and the board has accepted his resignation. The company thanks Mr. McCunn for his valuable contributions and wishes him every success in his future endeavours.

On May 03, 2023, The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on April 3, 2023.

Number of shares: 8,333,334 shares

Purchase price: 12 cents per share

Warrants: 4,166,667 share purchase warrants to purchase 4,166,667 shares

Warrant exercise price: 25 cents for a two-year period

On May 02, 2023, The TSX Venture Exchange has accepted for filing documentation with respect to the amendment of an arm's-length acquisition of the Oijarvi gold project and Solvik gold project. Pursuant to the terms of the amending agreement, the company will amend the agreement as follows:

• Upon exchange acceptance, issue nil EMX Royalty Corp. shares, issue $87,500 (U.S.) in company shares and pay $87,500 (U.S.) cash, instead of issuing $625,000 (U.S.) in EMX Royalty shares, $625,000 (U.S.) in company shares and $1.75-million (U.S.) on the second anniversary;
• Issue $625,000 (U.S.) in EMX Royalty shares, $625,000 (U.S.) in sompany shares and pay $4.75-million (U.S.) cash on the third anniversary of the agreement, instead of nil EMX Royalty shares, nil company shares and $3-million (U.S.) cash of the second anniversary;
• Pay $312,500 cash to EMX Royalty on the third anniversary of the agreement rather than on the second anniversary.

On April 03, 2023, Gold Line Resources Ltd. has arranged a non-brokered private placement of up to 8,333,334 shares at a price of 12 cents per unit for proceeds of up to $1-million. Each unit will consist of one common share and one-half of one share purchase warrant. Each full warrant will entitle the holder to purchase one common share at a price of 25 cents per common share for a period of 24 months from the date of issuance.

Gold Line intends to use the proceeds from the financing for drilling and other exploration activities and general working capital purposes. All securities issued under the financing are subject to TSX Venture Exchange approval and will be subject to a four-month-and-one-day hold period after the date of closing.

On February 21, 2023, Gold Line Resources Ltd. has released results from the 2022 winter drill program at the company's Paubacken project, located in Vasterbotten county in northern Sweden. Follow-up diamond drilling along the Aida shear corridor on the Paubacken Project completed in November 2022 consisted of six new diamond drill holes for a total of 882 metres. Drilling intersected Au mineralization over 250 metres and confirmed structural corridor over 650 metres. All samples have been analysed at MSA Laboratories and all assay data received.

The Company is excited to report that its 2022 winter drilling program has been completed and all results received. The program consisted of 882 metres in 6 diamond drill holes drilled with one drill rig. The program tested 650 metres of the >5 km Aida structural corridor identified using airborne magnetic geophysics with wide spaced step outs. 2022 drilling stepped down dip and along strike of mineralization encountered in the 2021 discovery hole (22.5 m @ 2.4 g/t Au in PAU-21-003. See Dec. 27, 2021 news release).

Mineralization is hosted within a sheared and altered mafic volcanic unit located within the structural corridor. Hanging wall and footwall units consist of black shale and greywacke metasedimentary units. Mineralization within the volcanic unit has been encountered over 250 metres along strike and remains open to depth and along strike in both directions. Intercepts encountered include 14.55 m @ 2.44 g/t Au in 2022-AID-001, 9.75 m @ 0.78 g/t Au in 2022-AID-002, 3.35 m @ 1.61 g/t Au and 4.7 m @ 2.12 g/t Au in 2022-AID-003, and 7.2 m @ 1.35 g/t Au in 2022-AID-006.

On February 01, 2023, Gold Line Resources Ltd.'s directors have appointed Aaron Triplett, CPA, CA, as chief financial officer and corporate secretary of the company, effective Jan. 30, 2023.

Mr. Triplett is a Chartered Professional Accountant (CPA, CA), and has accumulated over 15 years experience in the field of financial management and accounting, specializing in forecasting, compliance and risk management, and the development and monitoring of control systems. Mr. Triplett's experience includes acting as CFO for various operating public companies listed on the TSX Venture Exchange and Canadian Securities Exchange. Prior to his work with public companies, Mr. Triplett was an audit and assurance manager for a mid-size public accounting firm

On November 24, 2022, Gold Line Resources Ltd. announced initial result from its 2022 drill program at the Company’s Paubäcken Project in Sweden. Gold Line drills 14.55 metres of 2.44 g/t Gold at Paubäcken, including 0.85 metres of 9.60 g/t Gold and 1.10 metres of 9.41 g/t Gold (Hole 2022-AID-001).

https://goldlineresources.com/news/gold-line-drills-1455-metres-of-244-gt-gold-at-paubcken-including-085-metres-of-960-gt-gold-and-110-metres-of-941-gt-gold

On November 9, 2022, Gold Line Resources Ltd. announced the resignation of Geoff Balderson from the board of directors.

On October 4, 2022, Gold Line announced commencement of a diamond drilling program at the Paubäcken project. The Company plans to complete up to 1,500 metres of diamond drilling at the Aida target on the Project using one drill rig.

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