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Silver Sands Partner, Mirasol Resources, Provides Updates on its Libanesa and Virginia Precious Metals Projects in Argentina

VANCOUVER, British Columbia, Oct. 12, 2021 (GLOBE NEWSWIRE) — Mirasol Resources Ltd. (TSX-V: MRZ) (OTCPK: MRZLF) (the “Company” or “Mirasol”)…

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VANCOUVER, British Columbia, Oct. 12, 2021 (GLOBE NEWSWIRE) — Mirasol Resources Ltd. (TSX-V: MRZ) (OTCPK: MRZLF) (the “Company” or “Mirasol”) is pleased to provide an update on two partner-funded projects in the province of Santa Cruz, Argentina. At the Libanesa project (“Libanesa”), Mirasol has executed a definitive agreement granting Golden Arrow Resources Corporation (TSX-V: GRG) (“Golden Arrow”) an option to acquire a 75% interest in the project. A surface exploration program operated by Golden Arrow is to start shortly to refine drill targets, with a maiden drill program planned for Q1 2022. At the Virginia project (“Virginia”), which is under an option agreement with Silver Sands Resources Corp. (CSE: SAND) (“Silver Sands”) and operated by Mirasol, the Company’s exploration team has started a 2,685m Phase III drill program.

Mirasol’s President, Tim Heenan stated: “We are pleased to be partnered at Libanesa with Golden Arrow, a well-funded exploration company with a successful discovery record in Argentina. We look forward to Golden Arrow moving forward aggressively with its exploration plan to refine the drill targets in preparation for the maiden drill program expected to start in early 2022.”

Mr. Heenan added: “We are also pleased that drilling has started again at Virginia to follow up on our successful Phase I and II programs. The 2,685m Phase III program is designed to increase the Ag resources at Virginia by following-up on prospective targets discovered last field season. This is shaping up to be a very busy season on our properties in Santa Cruz, Argentina.”

Figure 1: Santa Cruz regional map with Mirasol’s project location

  • Libanesa:

Mirasol has granted Golden Arrow an option (the “Option”) to earn a 75% undivided interest in Libanesa over six years (the “Option Period”) by:

  • incurring exploration expenditures totaling US$4,000,000
    • US$500,000 per year during the first 2 years; and
    • US$750,000 per year thereafter.
  • making cash payments to Mirasol totaling US$1,000,000
    • US$100,000 to be paid on the 2nd, 3rd and 4th anniversaries;
    • US$250,000 on the 5th anniversary; and
    • US$450,000 on the 6th anniversary.

The initial US$500,000 in exploration expenditures is a firm commitment, but it may be incurred over 24 months instead of 12 months if all permits required for exploration are not in place by the end of March 2022. In addition, Golden Arrow is required to complete a minimum of 2,000m of drilling by the end of the second year. Golden Arrow will be the operator during the Option Period.

Upon exercise of the Option, Mirasol and Golden Arrow will hold 25% and 75%, respectively, in a participating joint venture company holding Libanesa. If either party’s equity interest is diluted below 10%, it will convert to a 2% net smelter return royalty.

Libanesa Project Overview and Exploration Plans

Libanesa is a 14,500 ha Ag-Au (Pb) project discovered by Mirasol. It is located at the northeastern margin of the Deseado Massif Au-Ag metallogenic province, approximately 70 km west of the port of Puerto Deseado, 40 km northwest of the Cerro Moro Mine operated by Yamana Gold and 100 km northeast of the Don Nicolas mine operated by Cerrado Gold.

Libanesa hosts several diversified geological, geochemical and geophysical-supported drill targets. Cerro Plomo is the principal prospect and is characterized by a well-mineralized Au/Ag hydrothermal breccia that is exposed at surface and supported by both chargeability and resistivity geophysical anomalies at depth. Peripheral polymetallic veins at the Libanesa Main prospect represent secondary targets and are supported by strong base metal and Au mineralization. The Lagunita prospect is a third prospective zone, which has reported encouraging rock chip Au values from more typical low sulfidation-type epithermal veins and breccias. This prospect warrants additional surface exploration to vector into the potentially better mineralized parts of this extensive vein system, where intermittent vein occurrences, outcropping/sub-cropping through post mineral cover, have been mapped over a strike length of more than 2.3 km. (see News Release June 1st, 2021 for a summary on previous work completed at Libanesa).

Golden Arrow is mobilizing an exploration team to Santa Cruz this month to conduct additional surface exploration, which may include geophysical surveys, to refine targets for a drill program expected to start in the first quarter of 2022.

  • Virginia:

Mirasol’s exploration team has mobilized to Virginia and drilling is now underway. The Phase III drill program follows the successful completion of nearly 6,000m of drilling last season, which led to the discovery of a new high-grade zone at the Ely Central target. Drilling intersected strong and continuous Ag grades in four core holes over a 200m strike length (see News Release May 17, 2021). Significant intercepts were also encountered at the Ely Central, Ely North, Martina NW and Julia South targets. The drill campaigns are successfully defining additional mineralization at Virginia, which currently hosts a NI 43-101 indicated mineral resource of 11.9 million ounces of Ag at 310 g/t Ag and a further inferred resource 3.1 million ounces of Ag at 207 g/t Ag. (Refer to Amended NI 43-101 technical report filed February 29, 2016: “Amended Technical Report, Virginia Project, Santa Cruz Province, Argentina – Initial Silver Mineral Resource Estimate” prepared by D. Earnest and M. Lechner).

The current 2,685m drill program is focused on expanding the known mineralized zones at Virginia by drilling within gaps, along strike and depth at Ely Central, Ely North, Julia South and Martina NW. Additional drill holes are planned at the Margarita target along strike and below anomalous surface rock samples. In addition, Mirasol will complete an initial test at the Maos target and at the Santa Rita prospect, which is located in the north of the property package.

This program is being funded by Silver Sands under an option-to-purchase agreement in terms of which Mirasol will retain a 19.9% equity ownership in Silver Sands and a 3% NSR royalty (with a buydown to 2% for US$2M), if the option is exercised (see News Release May 21, 2020).

About Mirasol Resources Ltd

Mirasol is a well-funded exploration company focused in Chile and Argentina. Mirasol has seven partner-funded projects, with Newcrest Mining Ltd (Chile), First Quantum Minerals (Chile), Mine Discovery Fund (Chile), Mineria Activa (Chile), Silver Sands Resources (Argentina), Patagonia Gold (Argentina) and Golden Arrow (Argentina). Mirasol is currently self-funding exploration at two projects, Inca Gold (Chile) and Sacha Marcelina (Argentina).

For further information, contact:

Tim Heenan, President
or
Jonathan Rosset, VP Corporate Development

Tel: +1 (604) 602-9989
Email: [email protected]
Website: www.mirasolresources.com

Qualified Person Statement: Mirasol’s disclosure of technical and scientific information in this press release has been reviewed and approved by Tim Heenan (MAIG), the President of the Company, who serves as a Qualified Person under the definition of National Instrument 43-101.

Forward Looking Statements: The information in this news release contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry and to policies linked to pandemics, social and environmental related matters. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery processes. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. Mirasol disclaims any obligations to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable law.

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

 

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Scorpio Gold Intersects 50.2g/t Gold over 5.6m including 260g/t over 0.9m from Ongoing Underground Drilling at Goldwedge, Nevada

VANCOUVER, British Columbia, Oct. 26, 2021 (GLOBE NEWSWIRE) — Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSXV: SGN) is pleased…

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VANCOUVER, British Columbia, Oct. 26, 2021 (GLOBE NEWSWIRE) — Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSXV: SGN) is pleased to announce high-grade results from a hole drilled to test the on-strike and down-dip continuity of mineralization within and below the current underground mine workings at the 100% owned Goldwedge property, located in Nevada.

Drill hole GWUG21-015 returned 50.2 g/t gold over 5.6m (1.463 oz/ton over 18.5 ft), including a higher-grade intercept of 260g/t over 0.9m (7.607 oz/ton over 3.0 ft). The mineralization is hosted within sheared, interbedded limestones and argillites with quartz and calcite veining (Figures 1-4). The intersection is located ~7m on strike from historical 2011 drill hole GWUG-11-2, which reported 56.4g/t gold over 3.1m, including 91.6g/t over 1.5m. The mineralization is situated at an average depth of ~58m from topographic surface and is located ~350m northwest of the mine portal. Drilling to further test the extent of high-grade mineralization along strike and at depth below the existing mine workings is ongoing. Four additional holes recently completed at the same drill station as GWUG21-015 are being processed for analysis. The planned meterage for this drill program is 2066 meters with 874 meters (42%) completed to date.

To date, the Goldwedge deposit has been traced over a strike length of ~350m from near surface to a vertical depth of 160m. The southwestern extent of drilling at the Goldwedge deposit lies 100m northwest of Scorpio Gold’s most northerly exploration drill hole in the West Pit area of the Manhattan Mine Property. Future drilling will test the Company’s structural interpretation that mineralization at Goldwedge could connect with mineralization in the West Pit area, where drilling has indicated a 300m continuous trend of mineralization from as shallow as 19m from surface. Collectively, the Goldwedge, West Pit and East Pit areas outline a mineralized trend along the Reliance Structural Zone ~2 km in strike length. This trend continues a further 3 km southeast to Scorpio Gold’s Keystone-Jumbo project area.  

Table 1: 2021 Goldwedge Underground Drilling – Significant Results for GWUG21-015

Hole ID Azm
(deg)
Dip
(deg)
From
(ft)
To
(ft)
Width
(ft)
From
(m)
To
(m)
Width
(m)
Gold
(oz/t)
Gold
(g/t)
GWUG21-015 221 -58 2.0 20.5 18.5 0.6 6.3 5.6 1.463 50.2
Incl.     3.0 6.0 3.0 0.9 1.8 0.9 7.607 260.9

Drill hole GWUG21-015 was completed by NQ size diamond (core) drilling. Widths are presented as down hole core lengths; true widths are undefined at this time. Analytical results were by FAAA procedure by Scorpio Gold’s in-house analytical laboratory, which does not have ISO/IEC 17025 accreditation but implements a quality management system compatible with the ISO/IEC 17025 standards and maintains a paperwork and LIMS trail suitable for future ISO/IEC 17025 accreditation. Certified assay results for GWUG21-015 by ALS Geochemistry Assay Laboratory Inc. are pending. Further details of the Company’s quality assurance and quality control program for the Goldwedge project are available at: GW QAQC.   

Figure 1: Plan view showing location of GWUG21-015, lithological units and modeled high-grade veins projected to surface. The significant results to date from Goldwedge underground drilling can be referred to in the Company’s news releases dated April 13 and September 29, 2021.
https://www.globenewswire.com/NewsRoom/AttachmentNg/03504fa9-529b-41c0-b26e-6357e8587939

Figure 2: Cross-section within 10m projection volume showing significant intercepts for GWUG21-015
https://www.globenewswire.com/NewsRoom/AttachmentNg/0a836c74-d546-4742-ae4a-8cfbce021a28

Figures 3-4: Core photos and assays for GWUG21-015. Note: There was no core recovery from 6 to 8 feet downhole. The 260.9 g/t interval represents a 3 ft core intersection from 3-6 ft downhole.
https://www.globenewswire.com/NewsRoom/AttachmentNg/061b28af-8458-4388-addb-b471c08213e2
https://www.globenewswire.com/NewsRoom/AttachmentNg/098239b0-25d6-4ab7-91b5-5dbd8d7cccb2

About Scorpio Gold

Scorpio Gold holds a 100% interest in the consolidated Manhattan District in Nevada comprising the advanced exploration-stage Goldwedge property in Manhattan, Nevada with a fully permitted underground mine and a 400 ton per day mill facility and the Manhattan Property situated adjacent and proximal to the Goldwedge property. The Manhattan Property includes 2 former producing mines, the Reliance Mine, which reportedly produced ~59,000 tons grading 0.435 oz/ton from 1932 to 1941, and the Manhattan Mine East and West pits, which produced ~236,000 oz. from 1974-1990. The deposits lie along the northwest-trending Reliance Structural Zone, which is considered the most predominant ore controlling structure in the region. The Reliance trend continues 4 km southeast to Scorpio Gold’s Keystone-Jumbo project area.

Scorpio Gold also holds 100% interest in the Mineral Ridge gold project located in Esmeralda County, Nevada.

The technical information contained within this release has been reviewed and approved by independent geological consultant, Mohan R Vulimiri, M.Sc., P.Geo., a Qualified Person as defined by NI 43-101.

ON BEHALF OF THE BOARD
SCORPIO GOLD CORPORATION

Brian Lock,
CEO & Director

For further information contact:

Brian Lock, CEO
Tel: (604) 889-2543
Email: [email protected]

Diane Zerga, General Manager
Tel: (775) 401-1637
Email: [email protected]

Anthony Simone, Investor Relations
Tel: (416) 881-5154
Email: [email protected]

Website: www.scorpiogold.com

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

The Company relies on litigation protection for forward-looking statements. This news release contains forward-looking statements that are based on the Company’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur, and include, without limitation, statements regarding the Company’s plans with respect to the exploration of its Goldwedge project. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements, including risks involved in mineral exploration programs and those risk factors outlined in the Company’s Management Discussion and Analysis as filed on SEDAR. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty thereof.









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Wallbridge Expands Gold Mineralization at Martiniere, with 3.68 g/t Au over 22.50 metres in First Hole Drilled Outside of Known Mineralized Envelope

TORONTO, Oct. 26, 2021 (GLOBE NEWSWIRE) — Wallbridge Mining Company Limited (TSX:WM) (“Wallbridge” or the “Company”) is pleased to announce…

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TORONTO, Oct. 26, 2021 (GLOBE NEWSWIRE) — Wallbridge Mining Company Limited (TSX:WM) (“Wallbridge” or the “Company”) is pleased to announce that the resource expansion drill program on its Martiniere gold property (“Martiniere” or the “Property”), (see Fig. 1) testing the depth and along strike extensions of known zones at Martiniere has intersected significant mineralization. This new mineralization is outside of the previously known mineralized envelope and will not be included in the upcoming updated mineral resource estimate currently underway. Due to the success of the ongoing 10,000-metre Phase 1 program, a more substantial drill program will be reviewed for 2022.

Since the start of our drilling program in July at Martiniere, 12 holes totaling approximately 8,000 metres have been completed.

Highlights of assay results received to date include:

  MDE-21-326 3.68 g/t Au over 22.50 metres, including
      6.45 g/t Au over 5.00 metres
    in the extension of the Bug Lake North shoot, approximately 100 metres down-plunge of the previously known extent (see Figs. 2, 3, 4, and 5);
       
  MDE-21-328 2.21 g/t Au over 36.60 metres, including
      14.15 g/t Au over 3.10 metres, and
      10.18 g/t Au over 2.00 metres
    50 metres south-west of the Bug Lake Porphyry, approximately 140 metres vertically undercutting the historic intersections of the Bug Lake South zone (see Figs. 2, 3, 4, and 6);
       
  MDE-21-330 3.83 g/t Au over 10.50 metres, including
      6.84 g/t Au over 4.60 metres
    in the extension of the Bug Lake South shoot, approximately 150 metres down-plunge from the previous historic intersection and 230 m to the southeast of MDE-21-328, reported today, with the area in between remaining open (see Figs. 2, 3, 4, and 7);

Assays for four of the 12 holes completed to date have been received. Final assay results are available for MDE-21-326 to MDE-21-328 and MDE-21-330, while only partial results have so far been received for MDE-21-329.

“Our initial drilling has confirmed that Martiniere has excellent potential to become the Company’s second gold asset that can, in the near term, be brought to a meaningful resource size,” stated Marz Kord, President & CEO of Wallbridge. “Additional drilling is needed to assess the ultimate size potential of the Martiniere Gold System through expansion of the known footprint. In addition, there are numerous high-quality targets with discovery potential throughout the property that we are eager to test in future drill programs.”

Martiniere Drill Program Underway

As announced previously (see Wallbridge News Release dated July 22, 2021), Wallbridge mobilized a drill rig at the end of July to Martiniere to commence an approximately 10,000-metre Phase 1 drill program. To date, approximately 8,000 metres in 12 drill holes have been completed as part of this program.

The Phase 1 drill program is focusing on the following objectives:

1) near-surface targets to extend known mineralized zones along strike with the objective of increasing the open pit constrained portion of the mineral resource (see Fig. 3);
2) targets at depth to follow known high-grade shoots to expand the underground, high-grade resource potential (see Fig. 4);
3) high-priority geological-geophysical targets and isolated historical gold intersections property-wide to discover new mineralized gold zones (see Fig. 2).

So far, all of the drilling has been within the known 2.0 by 1.8-kilometre footprint of the Martiniere Gold System, testing various targets related to objectives 1 and 2. These objectives will continue to be the focus for the remainder of the 2021 drill program. Seasonal drilling logistics are being evaluated for the feasibility of also testing some of the high priority property-wide targets (objective 3) this year, or postponing those to the Spring of 2022.

Visual results of the 12 drill holes completed so far have been very encouraging, with mineralization typical to the Martiniere Gold System intersected in the majority of drill holes, including two holes filling in an otherwise untested area linking the Martiniere West and Martiniere Central Zones. Three of the first four drill holes have returned significant, >40 metal factor (metal factor = Au grade multiplied by thickness) intersections.

Assay results of 4 drill holes of the 2021 exploration drill program are reported in the Table and Figures below. All figures and a table with drill hole information of recently completed holes are posted on the Company’s website under “Current Program” of the Martiniere Project page. Assay results from an additional 8 drill holes are currently pending and will be announced once they are available.

About the Martiniere Gold Property

Martiniere is located within Wallbridge’s 910 km2 Detour-Fenelon Gold Trend land package, which extends over 97 kilometres in an East-West direction along the Sunday Lake Deformation Zone (“SLDZ”), a major structure that controlled the emplacement of Kirkland Lake’s Detour Lake deposit, 45 kilometres west of Martiniere, and the Company’s Fenelon Gold System, located 30 kilometres to the east of Martiniere (see Fig. 1).

Gold on the Martiniere project was discovered in 1997 by Cyprus Canada Inc. and subsequently the property was explored by International Taurus Resources Inc. and American Bonanza. Balmoral Resources Ltd. (“Balmoral”) acquired Martiniere in November 2010 and, from 2011 to 2017, drilled over 130,000 metres and reported an initial mineral resource estimate in March 2018. Their work expanded the historical intercepts on the project into the Bug and Martiniere West gold deposits and identified several additional zones and showings, including VMS mineralization.

The Martiniere Gold System extends over a known area of approximately 2.0 by 1.8 kilometres and has been traced by sporadic drill holes down to a vertical depth of 700 metres; most drilling, however, has focused only on the top 300 metres from surface. The gold system is divided into the Bug deposits (Bug Lake North and South), which were emplaced along the Bug Lake Porphyry; the Martiniere West deposit, hosted by a gabbroic intrusion; and other less explored mineralized zones along strike or near these deposits (Horsefly Zone, Central Zone, NW Extension and others) (see Fig. 3). The Martiniere Gold System is most likely part of the orogenic class of gold deposits and high-grade, structurally controlled gold mineralization is generally surrounded by a broader, lower grade halo.

Balmoral reported a, now historic, mineral resource estimate for the Martinière project in March 2018, which included separate estimates for the Bug and Martinière West gold deposits for a total indicated resources of approximately 591,000 ounces and inferred resources of approximately 53,000 ounces of gold (see details of the historic resource estimate on the Company’s website).

These “mineral resources” are deemed historic and should not be relied upon. The qualified persons for the March 2021 Technical Report (see Technical Report filed on March 18, 2021 on SEDAR) have not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. Although they comply with current NI 43-101 requirements and follow CIM definition standards, they are included for illustrative purposes only and the Company is not treating the historical estimate as current mineral resources.

The Company has retained InnovExplo to complete an updated mineral resource estimate on the Property which will be published along with the Fenelon maiden mineral resource estimate in October 2021.

2021 Detour-Fenelon Gold Trend Drill Program

The drilling completed at Martiniere is part of the Company’s approximately 150,000 -metre 2021 drill program, which is mainly focusing on resource and exploration drilling at Fenelon, with approximately 20,000 to 25,000 metres devoted to regional exploration on the Company’s district-scale, underexplored land package on the Detour-Fenelon Gold Trend.

Figure 1. Overview Map of Wallbridge’s Detour-Fenelon land package
https://www.globenewswire.com/NewsRoom/AttachmentNg/cad4e0a1-94b0-48e1-9d6e-a10cecc4e950

Figure 2. Geology Map of the Martiniere Property
https://www.globenewswire.com/NewsRoom/AttachmentNg/a92f6cd5-81c8-472c-bda3-3de2a97f0109 

Figure 3. Plan view of the Martiniere Gold System
https://www.globenewswire.com/NewsRoom/AttachmentNg/84737c7b-1f01-4d8c-95db-05bde9416233

Figure 4. Vertical Long Section of the Bug Lake Trend
https://www.globenewswire.com/NewsRoom/AttachmentNg/45c045b2-45f5-4f9f-a848-ee87b8725d60

Figure 5. Martiniere Gold, Cross Section A
https://www.globenewswire.com/NewsRoom/AttachmentNg/cd4b15dc-02e8-4728-9934-d42065e1fa1a 

Figure 6. Martiniere Gold, Cross Section B 
https://www.globenewswire.com/NewsRoom/AttachmentNg/c44bb677-75c3-4f2b-ac28-b8550a31442f

Figure 7. Martiniere Gold, Cross Section C
https://www.globenewswire.com/NewsRoom/AttachmentNg/7800da37-63ad-47b8-b379-2c3652f32aed

 

Table 1. Wallbridge Fenelon Gold Property, Recent Drill Assay Highlights (1)
Drill Hole From To Length Au Au Cut (2) VG (3) Zone/Corridor Section
  (m) (m) (m) (g/t) (g/t)      
MDE-21-326 216.00 219.00 3.00 1.72 1.72   Bug Lake North Section A
MDE-21-326 300.00 322.50 22.50 3.68 3.68 VG Bug Lake North Section A
Including… 301.60 303.60 2.00 13.78 13.78   Bug Lake North Section A
And… 309.00 314.00 5.00 6.45 6.45 VG Bug Lake North Section A
MDE-21-327 No Significant Mineralization (4)  
MDE-21-328 350.00 353.00 3.00 2.12 2.12   Bug Lake South Section B
MDE-21-328 463.50 464.00 0.50 33.40 33.40 VG Bug Lake South Section B
MDE-21-328 762.00 764.00 2.00 5.01 5.01   Bug Lake South Section B
MDE-21-328 805.40 842.00 36.60 2.21 2.21   Bug Lake South Section B
Including… 805.40 808.50 3.10 14.15 14.15   Bug Lake South Section B
And… 825.00 827.00 2.00 10.18 10.18   Bug Lake South Section B
MDE-21-330 649.50 660.00 10.50 3.83 3.83   Bug Lake South Section C
Including… 650.90 655.50 4.60 6.84 6.84   Bug Lake South Section C

(1) Table includes only assay results received since the latest press release dated July 22, 2021.
(2) Au cut at: 35 g/t Au.
(3) Intervals containing visible gold (“VG”).
(4) Metal factor of at least 5 g/t*m and minimum weighted average composite grade of 1 g/t Au.

Note: True widths are estimated to be 50‒80% of the reported core length intervals.

Assay QA/QC and Qualified Persons

Drill core samples from Balmoral’s drill programs at Martiniere were all submitted for analysis to ALS Canada Ltd. Balmoral’s QA/QC practices and ALS’s analytical methods were described in detail in the 2018 Technical Report on the Property (see Technical Report filed by Balmoral Resources on March 29, 2018, on SEDAR).

Drill core samples from Wallbridge’s 2021 drill program at Martiniere are cut and bagged on site and transported to Bureau Veritas Commodities Canada Ltd. for analysis. Samples, along with standards and blanks that are included for quality assurance and quality control, were prepared and analyzed at the laboratories. Samples are crushed to 90% less than 2mm. A 1kg riffle split is pulverized to 85% passing 75 microns. 50g samples are analyzed by fire assay and AAS. Samples >10g/t Au are automatically analyzed by fire assay with gravimetric finish or screen metallic analysis. To test for coarse free gold and for additional quality assurance and quality control, Wallbridge requests screen metallic analysis for samples containing visible gold. These and future assay results may vary from time to time due to re‒analysis for quality assurance and quality control.

The Qualified Person responsible for the technical content of this press release is Peter Lauder, P.Geo, Exploration Manager of Wallbridge.

About Wallbridge Mining

Wallbridge is currently advancing the exploration and development of its 100%‒owned Fenelon Gold property located along the Detour‒Fenelon Gold Trend, an emerging gold belt in northwestern Québec. The Company completed approximately 102,000 metres of drilling in 2020 and is currently conducting a fully‒funded 2021 program of approximately 150,000metres of drilling and 2,000 metres of underground exploration development (Phase 1 of a 10,000‒metre program). The Company intends to complete a maiden mineral resource estimate on the Fenelon Gold System in October 2021.

Wallbridge’s land holdings in Québec along the Detour‒Fenelon Gold Trend cover 910.0 km2.This includes property adjacent to its Fenelon and Martiniere deposits which provides room for expansion of theses deposits as well as providing options for placement of future mine infrastructure. There is also potential for further discoveries along the 97 kilometres of strike length in this underexplored belt.

Wallbridge is also the operator of, and a 17.8% shareholder in, Lonmin Canada Inc., a privately‒held company with a portfolio of nickel, copper, and platinum‒group metals (PGM) projects in Ontario’s Sudbury Basin.

This news release has been authorized by the undersigned on behalf of Wallbridge Mining Company Limited.

For further information please visit the Company’s website at www.wallbridgemining.com or contact:

Wallbridge Mining Company Limited

Marz Kord, P. Eng., M. Sc., MBA
President & CEO
Tel: (705) 682‒9297 ext. 251
Email: [email protected]

Victoria Vargas, B.Sc. (Hon.) Economics, MBA
Investor Relations Advisor
Email: [email protected]

This press release may contain certain “forward‒looking statements” within the meaning of applicable Canadian securities legislation relating to, among other things, the operations of Wallbridge Mining Company Limited (“Wallbridge” or “Company”) and the environment within which it operates. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding future plans and objectives of Wallbridge, future opportunities and anticipated goals, the Company’s portfolio, treasury, management team, timetable to mineral resource estimation, permitting and the prospective mineralization of the properties, are forward‒looking statements that involve various risks, assumptions, estimates and uncertainties. Generally, forward‒looking information can be identified by the use of forward‒looking terminology such as “seeks”, “believes”, “anticipates”, “plans”, “continues”, “budget”, “scheduled”, “estimates”, “expects”, “forecasts”, “intends”, “projects”, “predicts”, “proposes”, “potential”, “targets” and variations of such words and phrases, or by statements that certain actions, events or results “may”, “will”, “could”, “would”, “should” or “might”, “be taken”, “occur” or “be achieved”. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.

By their nature, forward‒looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predicted outcomes could differ materially from those contained in such statements. These risks and uncertainties include, but are not limited to, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other required approval, the actual results of current exploration activities, fluctuations in prices of commodities, fluctuations in currency markets, actual results of additional exploration and development activities at the Company’s projects, capital expenditures, the availability of any additional capital required to advance projects, accidents, or pandemic interruptions.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward‒looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. These statements reflect the current internal projections, expectations or beliefs of the Company and are based on information currently available to the Company.

The Company does not undertake to update any forward‒looking information, except in accordance with applicable securities laws. The Company believes that the expectations reflected in those forward‒looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward‒looking statements included in this press release should not be unduly relied upon by investors as actual results may vary.

Risks and uncertainties about Wallbridge’s business are more fully discussed in the disclosure material filed with the securities regulatory authorities in Canada and available on SEDAR under the Company’s profile at www.sedar.com. Readers are urged to read these materials and should not place undue reliance on the forward‒looking statements contained in this press release.

Covid‒19 ‒ Given the rapidly evolving nature of the Coronavirus (COVID‒19) pandemic, Wallbridge is actively monitoring the situation in order to continue to maintain as best as possible the activities while striving to protect the health of its personnel. Wallbridge’ activities will continue to align with the guidance provided by local, provincial and federal authorities in Canada. The Company has established measures to continue normal activities while protecting the health of its employees and stakeholders. Depending on the evolution of the virus, measures may affect the regular operations of Wallbridge and the participation of staff members in events inside or outside Canada.








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Aurelius Initiates Exploration at Tangier and Forest Hill – Discovers Multiple High-Grade Intersections Including 302 g/t Au over 0.43 metres in Historical Drill Core

Toronto, Ontario–(Newsfile Corp. – October 26, 2021) – Aurelius Minerals Inc. (TSXV: AUL) (OTCQB: AURQF) (the "Company" or "Aurelius") is pleased to report…

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Toronto, Ontario–(Newsfile Corp. – October 26, 2021) – Aurelius Minerals Inc. (TSXV: AUL) (OTCQB: AURQF) (the “Company” or “Aurelius”) is pleased to report high-grade gold results from the Tangier and Forest Hill Projects in Nova Scotia, Canada. The Company recently completed a review of 10 historical, NQ sized drill core, that had been drilled from surface by diamond drill. Five of the holes are from the Tangier project and five holes are from the Forest Hill project. All holes were relogged and comprehensively sampled to identify overlooked gold mineralization. A total of 1,242 samples were taken with 1,220 samples from previously unsampled core and 22 samples from previously assayed core. Core from both projects was pulled from the secure Aurelius exploration facilities at the Tangier and Aureus East project sites.

The Tangier and Forest Hill projects are in the prolific Meguma gold district of Nova Scotia. The Tangier project is located within the historical gold mining community of the same name and is located approximately 65km east of Halifax. The Forest Hill project, also a past gold producer, is approximately 150km east of Halifax and 22km from the town of Sherbrooke (Figure 1).

Highlights from infill sampling programs:

Tangier Project

  • 4 of 5 holes sampled revealed significant gold mineralization
  • Hole TAN-19-01 (drilled in 2019)
    • Multiple new near surface high grade gold intersections
    • 302 grams per tonne gold, (“g/t Au”) over 0.43 metres (“m”), from 37.55m
    • 23.5 g/t Au over 0.31m, from 54.07m
    • 6.49 g/t Au over 0.28m, from 92.6m
  • Hole TAN-19-02 (drilled in 2019)
    • 32.9 g/t Au over 0.29m, from 20.35m
  • Hole TAN-14-02 (drilled in 2014)
    • 4.66 g/t Au over 0.9m, from 88.0m
    • 9.77 g/t Au over 0.45m, from 89.0m
  • Hole TAN14-03 (drilled in 2014)
    • 14.7 g/t Au over 1.0m, from 36.4m

Forest Hill Project

  • 3 of 5 holes sampled revealed significant gold mineralization
  • Hole FH-18-02
    • 100 g/t Au over 0.3m, from 96.8m

Details for the infill sampling program are included in Tables 1-3 below.

CEO of Aurelius, Mark N.J. Ashcroft, P.Eng stated, “Our reconnaissance exploration work, at both Tangier and Forest Hill, involved significant research into historical data and assessment reports, culminating in a review and the relogging of drill core from both projects, which were located at our secure storage facilities. We are very pleased to again discover unreported gold mineralization, and significant new gold intersections, previously overlooked by the prior operators. As we discovered during our initial reconnaissance exploration of the Aureus East and West projects, the assets acquired in Nova Scotia continue to show significant potential and opportunity as we apply a different methodology in evaluating the projects.”

Our team has remained focused on adding value by finding gold where others have yet to look. We have explored beyond the standard approach and by pushing these conventional limits we have unlocked significant potential to increase our gold resources. Just a year into the programs, we are very well positioned for the next phases and to continue on our pathway of discovery,” stated Jeremy Niemi, Vice President, Exploration.

The Tangier Project

The Tangier property has had a very long history, with gold first identified in 1860. Several campaigns of mining and exploration have been conducted since then, however, little modern exploration and almost no exploration has occurred outside of the traditional gold veins.

The Aurelius infill sampling campaign at Tangier involved reviewing five of 216 holes drilled at the project to relog, photograph and identify potentially overlooked gold mineralization through rigorous sampling. The holes were selected from three key areas at the project, the western extension of the deposit, the Strawberry Hill gold zone and a hole drilled north of the deposit (Figure 2). Multiple new high-grade gold intervals were identified along the western extension of the Tangier deposit within the three holes selected in the area. Holes TAN-19-01, TAN-19-02 and T14-02 are along the margin of the deposit, which was last bulk-sampled in 1999 from now flooded underground openings. The deposit extends from surface to a depth of approximately 300m and is 500m along strike in east-west direction. It is made up of at least 18 of south-dipping and parallel gold in quartz veins hosted within slate (argillite) and meta-greywacke beds. Traditionally the focus of mining and exploration concentrated on the quartz veins and the often large nuggets of gold associated with the high-grades. The infill sampling identified gold in the surrounding wall rock to the veins and opens a new opportunity to expand the gold resource at the project, beyond extending the mineralization at depth and along strike.

Hole T14-02 was selected due to its proximity to the Strawberry Hill gold zone, which is on trend of the Tangier deposit and 750m away to the east. The area has multiple gold hits greater than 5 g/t Au from multiple parallel gold in quartz veins, similar to the Tangier deposit. T14-02 infill sampling revealed four new intervals of gold mineralization between 73.0m and 149.0m down the hole. In all cases the new mineralization was due to sampling of host sediments adjacent to gold veins (Figure 3).

Hole TAN-14-06 did not reveal new gold mineralization, and the original target was north of the deposit and this hole may not have been optimally oriented or positioned. There are historical abandoned mine openings reported in the vicinity of the hole, which is encouraging for gold potential in the area.

Overall, the Company is encouraged by the high rate of success from the limited reconnaissance sampling program and is considering an expanded program to further identify areas of opportunity for gold resource growth. The Tangier gold exploration program is focused on growing the inferred mineral resource reported in the “Technical Report on the Tangier Gold Property” dated June 1, 2020, prepared by Greg Mosher, P.Geo, MSc, applied, of Global Mineral Resource Services and filed under the Company’s profile at SEDAR. The Tangier Gold Property technical report is also available on the Company’s website.

The Tangier project Mineral Resource currently includes 493,000 tonnes at a grade of 5.9 g/t Au which includes 93,000 ounces in the Inferred Mineral category (see Table 4). The Mineral Resource is limited to a depth of 300m and a strike length of approximately 500m, however gold mineralization in drilling has been confirmed over 1,500m along strike and very limited drilling has occurred below the deposit. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources estimated will be converted into Mineral Reserves. Inferred Mineral Resources are based on limited drilling which suggests the greatest uncertainty for a resource estimate and that geological continuity is only implied. Additional drilling will be required to verify geological and mineralization continuity and it is reasonable that most of the Inferred Mineral Resources could be upgraded to Indicated Mineral Resources

The Forest Hill Project

Infill sampling at Forest Hill reviewed 5 of 379 holes drilled at the project to relog, photograph and identify potentially overlooked gold mineralization through rigorous sampling. Multiple zones were identified with 3 of the 5 holes intersecting new gold mineralization. Most significant was the zone in hole FH-18-02 where a narrow bedding parallel vein, with visible gold, was overlooked. This sample graded 100 g/t Au and extended 0.3m from 96.8m to 97.1m depth.

Forest Hill was also mined and explored in the past via underground openings which are now capped and flooded. The site was rehabilitated in 1998.

The limited reconnaissance sampling program is very encouraging and is considering an expanded program to further identify areas of opportunity for gold resource growth. The Forest Hill gold exploration program is focused on growing the Indicated and Inferred Mineral Resource reported in the “Technical Report on the Forest Hill Gold Property” dated June 1, 2020, prepared by Greg Mosher, P.Geo, MSc, applied, of Global Mineral Resource Services and filed under the Company’s profile at SEDAR. The Forest Hill Gold Property technical report is also available on the Company’s website.

The Mineral Resource at Forest Hill currently includes Indicated and Inferred Mineral Resources. There are 322,000 tonnes at a grade of 7.1 g/t Au which includes 73,000 ounces in the indicated category as well as 905,000 tonnes at a grade of 7.1 g/t Au including 208,000 ounces in the inferred category (see Table 5). The Mineral Resource is limited to a depth of 300m and a strike length of approximately 2,300m and remains open at depth and along strike. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources estimated will be converted into Mineral Reserves. Inferred Mineral Resources are based on limited drilling which suggests the greatest uncertainty for a resource estimate and that geological continuity is only implied. Additional drilling will be required to verify geological and mineralization continuity and it is reasonable that most of the Inferred Mineral Resources could be upgraded to Indicated Mineral Resources.

Figure 1: Project location map for Aurelius projects and adjacent gold projects (other companies)

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Figure 2: Tangier plan map showing locations of holes selected for infill sampling

To view an enhanced version of Figure 2, please visit:
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Figure 3: Tangier longitudinal section showing location of infill holes with existing mineral resource

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Figure 4: Forest Hill plan map showing locations of holes selected for infill sampling

To view an enhanced version of Figure 4, please visit:
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Figure 5: Forest Hill longitudinal section showing location of infill holes with existing mineral resource

To view an enhanced version of Figure 5, please visit:
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The Aurelius exploration approach involves stepping back and taking a wider view of opportunities for new gold mineralization and part of that is considering potentially overlooked gold in existing drilling. In recent years, exploration for gold in the Meguma district has expanded from the traditional high-grade gold in quartz veins and into the wall rock surrounding the veins. This approach has proven successful at identifying overlooked gold mineralization at all four of the projects in the Meguma district. In August, September and October 2020, the Company released results from assays of previously unsampled core at Aureus West and Aureus East as highlighted below.

Previously Reported Infill Sampling Results from Aureus East and West

Table 1. Gold intervals from 2021 infill sampling of historical holes at Tangier and Forest Hill

Project Drillhole From (m) To (m) Width (m) Au (g/t)
Tangier TAN-19-01 37.35 37.78 0.43 302
TAN-19-01 54.07 54.38 0.31 23.5
TAN-19-01 92.6 92.88 0.28 6.49
TAN-19-02 20.35 20.64 0.29 32.9
T14-02 73 74 1 1.73
T14-02 88 88.9 0.9 4.66
T14-02 89 89.45 0.45 9.77
T14-02 148 149 1 1.14
TAN14-03 36.4 37.4 1 14.7
TAN14-03 65 65.6 0.6 1.71
TAN14-03 65.6 65.9 0.3 3.07
TAN14-03 65.9 66.25 0.35 3.63
TAN14-06 No significant results
 
Forest Hill FH-18-01 156.7 157.1 0.4 3.9
FH-18-02 14.4 14.7 0.3 2.07
FH-18-02 24.2 24.5 0.3 1.47
FH-18-02 96.8 97.1 0.3 100
FH04-25 61 62 1 3.32
FH-15-83 No significant results
FH-03-08 No significant results

 

Gold grades are not capped, and due to folded geometry of veins, the intervals may not reflect actual width.

Table 2. Hole location, final depth and orientation for reported holes

Project Drillhole Easting Northing Azimuth Dip Length (m) Year Drilled
Tangier T14-02 525,037 4,961,839 320 -45 212 2014
TAN14-03 523,880 4,961,390 330 -45 128 2014
TAN14-06 523,575 4,961,560 155 -45 120 2014
TAN-19-01 523,880 4,961,390 317 -45 131 2019
TAN-19-02 523,880 4,961,390 317 -60 203 2019
Forest Hill FH-18-02 597,643 5,018,074 173 -65 110 2018
FH-18-01 597,643 5,018,074 173 -50 200 2018
FH-15-83 598,471 5,017,931 176 -45 186 2015
FH04-25 597,305 5,017,861 180 -45 150 2004
FH03-08 597,311 5,018,038 180 -48 250 2003

 

Table 3. Summary details for 2021 infill sampling for Tangier and Forest Hill

Infill Program Summary Tangier Forest Hill
Number of Holes 5 5
Metres of Infill Samples 519.99 464.34
Metres of Resamples 8.95 1.4
Total Number of Metres 528.94 465.74
Number of Resamples 18 4
Number of Infill Samples 643 577
Total Number of Core Samples 661 581
Total QAQC Samples Sent 47 42

 

Table 4. Mineral resources for Tangier property

CLASS TONNES AU G/T CAPPED CAPPED OUNCES AU UNCAPPED
AU G/T
OZ UNCAPPED AU
Inferred 493,000 5.9 93,000 9.9 163,000

 

  1. A cutoff of 2 g/t gold was used.
  2. Both capped (40 g/t) and uncapped grades are shown above.
  3. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resources will be converted to mineral reserves.
  4. Inferred Mineral Resources are based on limited drilling which suggests the greatest uncertainty for a resource estimate and that geological continuity is only implied. Additional drilling will be required to verify geological and mineralization continuity and it is reasonable that most of the inferred resources could be upgraded to indicated resources.
  5. Quantity and grades are estimates and are rounded to reflect the fact that the resource estimate is an approximation.
  6. The Mineral Resource estimate was prepared by G. Mosher, P.Geo, M.Sc. and is effective June 1, 2020.

Table 5. Mineral resources for Forest Hill property

CLASS TONNES AU G/T CAPPED CAPPED OUNCES AU UNCAPPED
AU G/T
OZ UNCAPPED AU
Indicated 322,000 7.1 73,000 11.0 114,000
Inferred 905,000 7.1 208,000 10.6 308,000

 

  1. A cutoff of 2 g/t gold was used.
  2. Both capped (110 g/t) and uncapped grades are shown above.
  3. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resources will be converted to mineral reserves.
  4. Inferred Mineral Resources are based on limited drilling which suggests the greatest uncertainty for a resource estimate and that geological continuity is only implied. Additional drilling will be required to verify geological and mineralization continuity and it is reasonable that most of the inferred resources could be upgraded to indicated resources.
  5. Quantity and grades are estimates and are rounded to reflect the fact that the resource estimate is an approximation.
  6. The Mineral Resource estimate was prepared by G. Mosher, P.Geo, M.Sc. and is effective June 1, 2020.

COVID-19 Precautions

Aurelius has developed and implemented compliant precautions and procedures that are in line with guidelines for the Province of Nova Scotia. Protocols were put in place to ensure the safety of our employees and contractors, thereby reducing the potential for community contact and spreading of the virus.

Qualified Person and Analytical Procedures

Mr. Jeremy Niemi, P.Geo. and Vice President, Exploration of Aurelius and the Company’s Qualified Person as defined by NI 43-101, has reviewed and approved the technical information in this release.

Individual drill core samples are labeled, placed in plastic sample bags and sealed. Groups of samples are then placed into durable rice bags and then shipped by courier for analyses to ALS Geochemistry, Moncton, New Brunswick. Sample preparation occurs at ALS in Moncton where samples are weighed, dried, crushing one kilogram to 70 percent less than two millimeters and then pulverized to create a one-kilogram sample with 85 percent less than seventy-five microns. Potential high-grade gold samples are sent for metallic screen fire assay and remaining material is assayed for 50-gram fire assay and samples grading more than 100 parts per million have a gravimetric finish performed. When visible gold is encountered the Company samples both halves of the core. The remaining coarse reject portions of the samples remain in storage if further work or verification is needed. The Company inserted control samples (accredited gold standards, blanks and duplicates) at least every 20 samples and monitors the control samples inserted by ALS.

About Aurelius

Aurelius is a well-positioned gold exploration company focused on advancing its recently acquired and renamed Aureus Gold Properties, including Aureus East and West, the Tangier Gold Project and the Forest Hill Gold Project located in Nova Scotia and described in detail in the Company’s press release of November 18, 2019.

Aurelius is also focused on advancing two district-scale gold projects in the Abitibi Greenstone Belt in Ontario, Canada, one of the world’s most prolific mining districts; the 968-hectare Mikwam Property, in the Burntbush area on the Casa Berardi trend and the 12,425-hectare Lipton Property, on the Lower Detour Trend.

The Company has a management team with experience in all facets of the mineral exploration and mining industry who will be considering additional acquisitions of advanced staged opportunities in Nova Scotia, the Abitibi and other proven mining districts.

On Behalf of the Board
AURELIUS MINERALS INC.

For further information please contact:

Aurelius Minerals Inc.
Mark N.J. Ashcroft, P.Eng., President and CEO
[email protected]
Tel.: (416) 304-9095
www.aureliusminerals.com

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

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” under the provisions of applicable Canadian securities legislation, concerning the business, operations and financial performance and condition of Aurelius. All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to Aurelius within the meaning of applicable securities laws, including statements with respect to the Company’s planned drilling and exploration activities, the anticipated benefits of the Acquisition and the development of the Aureus Gold Properties, the future price of gold, the estimation of Mineral Resources, the realization of Mineral Resource estimates, success of exploration activities, permitting time lines, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” , “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” , “believes”, or variations or comparable language of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof. Forward-looking information is necessarily based upon a number of factors and assumptions that, if untrue, could cause the actual results, performances or achievements of Aurelius to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Aurelius will operate in the future, including the price of gold, anticipated costs and ability to achieve goals.

Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking information include, among others, gold price volatility, mining operational and development risks, litigation risks, regulatory restrictions (including environmental regulatory restrictions and liability), changes in national and local government legislation, taxation, controls or regulations and/or change in the administration of laws, policies and practices, expropriation or nationalization of property and political or economic developments in Canada, delays, suspension and technical challenges associated with projects, higher prices for fuel, steel, power, labour and other consumables, currency fluctuations, the speculative nature of gold exploration, the global economic climate, dilution, share price volatility, competition, loss of key employees, additional funding requirements and defective title to mineral claims or property. Although Aurelius believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources will be converted to Mineral Reserves. Inferred Mineral Resources are based on limited drilling which suggests the greatest uncertainty for a resource estimate and that geological continuity is only implied. Additional drilling will be required to verify geological and mineralization continuity and it is reasonable that most of the Inferred Mineral resources could be upgraded to Indicated Mineral Resources.

The Company provides forward-looking information for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of Aurelius to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to difficulties in executing exploration programs at the Mikwam, Lipton and Aureus Gold Properties on the Company’s proposed schedules and within its cost and scheduling estimates, whether due to weather conditions, availability or interruption of power supply, mechanical equipment performance problems, natural disasters or pandemics in the areas where it operates, the integration of acquisition; risks related to current global financial conditions including market reaction to the coronavirus outbreak; competition within the industry; actual results of current exploration activities; environmental risks; changes in project parameters as plans continue to be refined; future price of gold; failure of plant, equipment or processes to operate as anticipated; mine development and operating risks; accidents, labour disputes and other risks of the mining industry; delays in obtaining approvals or financing; risks related to indebtedness and the service of such indebtedness, as well as those factors, risks and uncertainties identified and reported in Aurelius’ public filings under Aurelius’ SEDAR profile at www.sedar.com. Although Aurelius has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are made as of the date hereof and, accordingly, are subject to change after such date. Aurelius disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

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