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Volcanic Gold Drills 6.52m @ 16.31 g/t Au at Holly

2021-09-09 -VG – News Release
Shares issued 44,600,000
VG close – C$0.39c, W/C +$9 Million

September 9, 2021 – TheNewswire – Vancouver, British Columbia…

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2021-09-09 -VG - News Release
Shares issued 44,600,000
VG close - C$0.39c, W/C +$9 Million

September 9, 2021 - TheNewswire - Vancouver, British Columbia - Volcanic Gold Mines Inc. (TSXV:VG) is pleased to report further high grade drill results from step out drilling from La Peña vein at the Holly Project in Guatemala.  

 

Highlights:

HDD-21-017 from 134.25 to 139.00 returns 8.83m @ 8.81 g/t Au and 355 g/t Ag

HDD-21-019 from 171.90 to 178.42 returns 6.52m @ 16.31 g/t Au and 55* g/t Ag

HDD-21-020 from 61.70 to 67.10 returns 5.40m @ 5.91 g/t Au and 70* g/t Ag

Results from the Holly project drilling have been received for holes up to HDD-21-020 and consistently, the deeper holes return better results, with mineralization open to the south/north and down dip.

A table of 2021 holes drilled at La Peña is set out below:

DRILLHOLE

FROM (m)

TO (m)

INTERVAL (m)

GOLD (g/t)

SILVER (g/t)

HDD-21-001

46.10

47.70

1.60

24.10

568

and

53.70

60.60

6.90

4.90

85

HDD-21-002

95.15

106.27

11.12

6.29

282

including  

95.15

98.00

2.85

15.50

342

including  

102.35

105.22

2.87

8.08

633

HDD-21-003

101.85

112.50

10.65

5.29

256

HDD-21-004

119.5

143.50

24

3.10

694

including  

131.40

133.67

2.27

9.79

2035

including  

136.00

137.85

1.85

5.60

2801

HDD-21-004

154.02

163.17

9.15

-

380

HDD-21-14

52.22

54.75

2.53

2.90

108

including

57.70

59.80

2.10

3.60

92

HDD-21-015

108.65

124.20

15.55

7.67

615

including

108.65

115.90

7.25

16.20

848

HDD-21-016

77.00

79.00

2.00

4.15

154

HDD-21-017

134.25

143.08

8.83

8.81

355

HDD-21-018

71.67

73.20

1.53

1.81

57

HDD-21-019

28.97

30.50

1.53

100*

100*

and

171.90

178.42

6.52

16.31

55*

including

172.90

176.60

3.70

28.31

73*

HDD-21-020

61.70

67.10

5.40

5.91

70*

including

63.00

64.00

1.00

29.41

100*

and

131.00

134.20

3.20

-

100*

 

Note: As indicated by * symbols, some samples from HDD-21-019 and HDD-21-020 are still pending final results that returned over 100 g/t silver and or 100 g/t gold . Final gold and silver assay results are expected soon and will likely increase the weighted averages for these intercepts. Reported intervals are drilled width. True width is estimated at 80% of true width.

To date the La Peña vein has been tested over a strike length of 220m and a vertical depth up to 200m.  Drilling has encountered variable grades within the vein although most holes that intercept the vein deeper return high grades.  The drill will be turning again on the 15th of September and the focus of the program will be to confirm depth and strike continuity to establish a high grade maiden resource.

The La Peña is one of many north-south veins that cross the regional Jocotan plate bounding fault.  Mineralization controls at the Holly project are still not well understood but consistently where drilling intersects the north-south veins within Jocotan fault breccia, the mineralization and gold-silver grades are the strongest.  A major focus of the upcoming drilling will be to not only confirm mineralization in La Pena and other veins, but to test the extensive breccia in the plate bounding Jocotan fault.

Figure 1. La Peña Zone; Long Section:


Click Image To View Full Size

 

Technical Information

Bruce Smith, M.Sc. (Geology), a member of the Australian Institute of Geoscientists, is Volcanics’s Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.  Mr. Smith has 27 years of mineral exploration experience and has prepared and approved the technical information contained in this news release.

Quality Assurance and Quality Control

Volcanic Gold follows industry standard procedures for diamond core drilling and analysis. Drilling is carried out using NQ and HQ size tooling.  Drill core is cut in half  using a rock saw with one-half of the core then taken as a sample for analysis.  Sample intervals are generally 1m intervals, producing samples of between 2 to 9 kg.  Half-core samples are delivered to the internationally certified Bureau Veritas Mineral laboratory facilities in Nicaragua where the samples are prepared. Assays are completed by Bureua Veritas in Canada.  The samples are fire assayed for Au and are analysed for Ag and multi-elements using method code ICP following a four-acid digestion.  Overlimits are analysed using an appropriate method.  Multi-element geochemical standards and blanks are routenely entered into the drill core sample stream to monitor laboratory performance.  Quality control samples submitted were returned within acceptable limits.

 

Terms of Guatemala Radius Gold and Volcanic Gold Mines option

 

Pursuant to an option agreement signed in May 2020 with Radius Gold Inc. (TSXV:RDU), Volcanic can earn a 60% interest in the Holly and Banderas projects by spending the cumulative amount of US$7.0 million on exploration of the properties within 48 months from the date of the agreement.  An initial US$1M must be spent on exploration within the 12 months of receiving the required drill permits, which expenditure will include a minimum 3,000m of drilling on the properties.

 

Following the exercise of the Option, Volcanic will enter into a standard 60/40 Joint Venture in order to further develop the Properties.  Volcanic has also been granted an exclusive right to evaluate all other property interests of Radius in Guatemala with a right to acquire an interest in any or all other such properties on reasonable terms.

  

About Volcanic

 

Volcanic brings together an experienced and successful mining, exploration and capital markets team focused on building multi-million-ounce gold and silver resources in underexplored countries.  Through the strategic acquisition of mineral properties with demonstrated potential for hosting gold and silver resources, and by undertaking effective exploration and drill programs, Volcanic intends to become a leading gold-silver company.

 

For further information, visit our website at www.volgold.com.

 

Volcanic Gold Mines Inc.

 

Simon Ridgway, President and CEO

  

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Forward-looking statements

 

Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward- looking statements and include, without limitation, statements about the Company’s plans for exploration work in Guatemala. Often, but not always, these forward looking statements can be identified by the use of words such as “estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”, “gain”, “upgraded”, “offset”, “limited”, “contained”, “reflecting”, “containing”, “remaining”, “to be”, “periodically”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including negative variations.

 

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, whether the Company’s planned exploration work will be proceed as intended; changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in the Company’s quarterly and annual filings with securities regulators and available under the Company’s profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

 

Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that the Company’s stated goals and planned exploration and development activities will be achieved; that there will be no material adverse change affecting the Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.

 

Copyright (c) 2021 TheNewswire - All rights reserved.

Today’s News

Marvel Applies For Work Permits At Hope Brook, Contiguous To Falcon Gold – Benton & Sokoman

VANCOUVER, BC / ACCESSWIRE / September 20, 2021 / Marvel Discovery Corp. (TSXV:MARV)(Frankfurt:O4T1)(OTCQB:MARVF); ("Marvel" or the "Company") is pleased…

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VANCOUVER, BC / ACCESSWIRE / September 20, 2021 / Marvel Discovery Corp. (TSXV:MARV)(Frankfurt:O4T1)(OTCQB:MARVF); ("Marvel" or the "Company") is pleased to announce its exploration plans on its Hope Brook Project which is strategically located contiguous to Sokoman - Benton Joint Venture, Falcon Gold and First Mining's ground which is optioned to Big Ridge Exploration. The company has filed initial permits for its first phase of exploration which includes high resolution magnetic gradiometry surveys, a proven method to sort the structural complexities in geological terranes. The Company will also be sending prospecting crews to the area to begin baseline prospecting to determine if the magnetic trends highlighted in regional government surveys are due to similar mineralized structures as those hosting the nearby Sokoman / Benton new Lithium discovery.

Figure 1. Location of Marvel's Hope Brook gold property contiguous to First Mining and the Sokoman-Benton joint venture.

Most recently, Sokoman/Benton made headlines announcing the first High Grade Discovery of Lithium bearing pegmatites at their Golden Hope project. It is important to note this discovery is less than 10 km away from our ground and appears to be the same structural corridor. The 35 grab and chip samples are noted in the Sokoman/Benton NR (September 16th 2021) were collected over a 2 km distance. Their sampling program confirmed the presence of lithium pegmatites, and the first significant occurrence of Lithium documented in the province of Newfoundland and Labrador, Canada.

Karim Rayani Chief Executive Officer commented, "Marvel and our sister company Falcon Gold have made a lot of noise as of late not only in acquiring sizable land positions tied on to major structures but also following the structures to find what we believe are hidden gems that have been overlooked and passed by. Sokoman-Benton's new Lithium discovery is less than 10 km away and is a testament to our business model."

Marvel's Hope Brook 19,075 hectare property is hosted within the Exploits subzone of the central Newfoundland gold belt. The property covers extensions or is proximal to two major structures linked to significant gold prospects (Cape Ray; Matador Mining) and deposits (Hope Brook; First Mining) in southern Newfoundland. Rock lithologies and structures on the property are also related to those associated with Marathon Gold's Valentine gold deposits, Sokoman's Moosehead gold project and New Found Gold's Queensway gold project. Marvel's land position straddles both the eastern and western extents of recent land acquisitions by the Sokoman/Benton JV partnership, with Marvel now controlling areas of considerable structural complexity marked by large-scale fold and fault structures, which provide important structural controls (traps) for gold mineralization within this area.

Within this immediate area, the most significant deposit is the Hope Brook Gold Mine, which was in production from 1987 to 1997, producing 752,163 ounces of gold. The Hope Brook deposit is now owned by Coastal Gold Corp., which has outlined an additional 6.33 million tonnes at an average grade of 4.68 grams per tonne gold for 954,000 ounces of gold in the indicated and inferred categories.

Qualified Person

The technical content of this news release has been reviewed and approved by Mike Kilbourne, P.Geo., who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

The QP and the Company has not completed sufficient work to verify the historic information on the properties comprising the Great Burnt property claim group particularly regarding historical exploration, neighbouring companies, and government geological work.

About Marvel Discovery Corp.

Marvel, listed on the TSX Venture Exchange for over 25 years, is a Canadian based emerging resource company. The Company is systematically exploring its extensive property positions in:

  • Newfoundland (Slip, Gander North, Gander South, Victoria Lake, Baie Verte, and Hope Brook - Au Prospects)
  • Atikokan, Ontario (BlackFly - Au Prospect)
  • Elliot Lake, Ontario (East Bull - Ni-Cu-PGE Prospect)
  • Quebec (Duhamel - Ni-Cu-Co prospect & Titanium, Vanadium, and Chromium Prospect)
  • Prince George, British Columbia (Wicheeda North - Rare Earth Elements Prospect)

The Company's website is: https://marveldiscovery.ca/

ON BEHALF OF THE BOARD

Marvel Discovery Corp.

"Karim Rayani"

Karim Rayani
President/Chief Executive Officer, Director
Tel: 604 716 0551 
email: k@r7.capital

Disclaimer for Forward-Looking Information:

Certain statements in this release are forward-looking statements which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward-looking statements in this press release relate to, among other things: completion of the proposed Arrangement. Actual future results may differ materially. 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. Forward-looking statements reflect the beliefs, opinions, and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law

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.

SOURCE: Marvel Discovery Corp.



View source version on accesswire.com:
https://www.accesswire.com/664826/Marvel-Applies-For-Work-Permits-At-Hope-Brook-Contiguous-To-Falcon-Gold--Benton-Sokoman

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Today’s News

Southern Silver Completes Final Payment to Acquire 100% Interest in the Cerro Las Minitas Silver Project

Vancouver, British Columbia–(Newsfile Corp. – September 20, 2021) – Southern Silver Exploration Corp. (TSXV: SSV) (the "Company" or "Southern Silver")…

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Vancouver, British Columbia--(Newsfile Corp. - September 20, 2021) - Southern Silver Exploration Corp. (TSXV: SSV) (the "Company" or "Southern Silver") purchased a 60% indirect working interest in the Cerro Las Minitas project (the "CLM Project") located in Durango, Mexico from Electrum Global Holdings LP ("Electrum") in September 2020 subject to a security pledge. The Company has now made the final payment to Electrum of US$2 million and issued 7,971,878 common shares equal to US$2 million (based on the prior 20-day VWAP) and now holds a 100% interest in the CLM Project free of such security pledge. As consideration for the acquisition, Southern Silver has paid Electrum an aggregate US$15 million in a combination of cash and common shares.

Benefits to Southern Silver Shareholders:

  • Simplifies ownership structure of the CLM Project
  • Establishes full control over project timeline and removes perceived joint venture discount
  • Provides 100% ownership of a premier, polymetallic deposit in Mexico with substantial resource growth potential (with a focus on targeting high grade silver targets)
  • 150% increase in attributable resources to current resource of Indicated: 134Mozs AgEq and Inferred: 138Mozs AgEq (1)
  • Highly accretive to Southern Silver shareholders
  • Electrum remains a supportive cornerstone investor
  • Southern Silver becomes a more attractive takeover target
  • Enhances the market profile of the Company relative to its peer group

Acquiring Electrum's 60% interest provided Southern Silver with an additional 49.9 million ounces of silver and 1.35 billion pounds of combined lead and zinc to its account based on the current National Instrument 43-101 (2019) Mineral Resources estimate of the CLM Project. Additionally, Southern Silver has become more attractive on a corporate level with the Company's market profile being enhanced by having sole ownership of one of the largest and highest grade, undeveloped silver projects in the world.

Since execution of the agreement in June, 2020, the Company has continued to advance and expand the CLM Project by completing a total of 56 core holes totaling 22,360 metres with drilling recommencing in September 2020. Southern Silver has now tested over 850 metres of strike length along the east side of the Cerro to depths of up to 500 metres, primarily in the South Skarn and Mina La Bocona target areas.

Results from all drill programs since the date of the current Mineral Resource Estimate (2019) will be incorporated into a current mineral resource report on the CLM Project to be released within the next few weeks. As well, the Company continues to proceed with completing a Preliminary Economic Assessment (PEA) for issuance in Q1, 2022.

The Cerro Las Minitas project as of May 9th, 2019 contains a Mineral Resource Estimate, at a 175g/t AgEq cut-off, of(1)

  • Indicated - 134Moz AgEq: 37.5Moz Ag, 40Mlb Cu, 303Mlb Pb and 897Mlb Zn
  • Inferred - 138Moz AgEq: 45.7Moz Ag, 76Mlb Cu, 253Mlb Pb and 796Mlb Zn

Lawrence Page, Q.C., Southern Silver's President and Director, stated: "Electrum was a great joint venture partner, assisting with funds and expertise to allow Southern Silver to achieve the milestone 2019 Resource. Now Southern Silver, as the sole owner of the CLM Project, has explored new zones to establish resources not yet included in the Resource published in 2019. We anticipate that the aggregate Resource, soon to be presented and published, will significantly enhance the magnitude and value of the CLM Project. Electrum remains as a significant and supportive shareholder."

Equity Raises and Warrant Exercises: During the past twenty-one months the Company has raised $35,500,000 in equity raises, warrant and option exercises which has allowed the Company to fund the purchase of the 60% working interest and exploration costs at CLM. $15.5M remains in treasury to fund exploration and PEA costs at CLM and exploration costs at the Oro porphyry copper-gold project located in southern New Mexico, USA.

About Southern Silver Exploration Corp.
Southern Silver Exploration Corp. is an exploration and development company with a focus on the discovery of world-class mineral deposits. Our specific emphasis is the 100% owned Cerro Las Minitas silver-lead-zinc project located in the heart of Mexico's Faja de Plata, which hosts multiple world-class mineral deposits such as Penasquito, San Martin, Naica and Pitarrilla. We have assembled a team of highly experienced technical, operational and transactional professionals to support our exploration efforts in developing the Cerro Las Minitas project into a premier, high-grade, silver-lead-zinc mine. The Company engages in the acquisition, exploration and development either directly or through joint-venture relationships in mineral properties in major jurisdictions. Our property portfolio also includes the Oro porphyry copper-gold project located in southern New Mexico, USA.

  1. The 2019 Cerro Las Minitas Resource Estimate was prepared following CIM definitions for classification of Mineral Resources. Resources are constrained using mainly geological constraints and approximate 10g/t AgEq grade shells. The block models are comprised of an array of blocks measuring 10m x 2m x 10m, with grades for Au, Ag, Cu, Pb, Zn values interpolated using ID3 weighting. Silver and zinc equivalent values were subsequently calculated from the interpolated block grades. The model is identified at a 175g/t AgEq cut-off, with an indicated resource of 11,102,000 tonnes averaging 105g/t Ag, 0.10g/t Au, 1.2% Pb, 3.7% Zn and 0.16% Cu and an inferred resource of 12,844,000 tonnes averaging 111g/t Ag, 0.07g/t Au, 0.9% Pb, 2.8% Zn and 0.27% Cu. AgEq cut-off values were calculated using average long-term prices of $16.6/oz. silver, $1,275/oz. gold, $2.75/lb. copper, $1.0/lb. lead and $1.25/lb. zinc. Metal recoveries for the Blind, El Sol and Las Victorias deposits of 91% silver, 25% gold, 92% lead, 82% zinc and 80% copper and for the Skarn Front deposit of 85% silver, 18% gold, 89% lead, 92% zinc and 84% copper were used to define the cut-off grades. Base case cut-off grade assumed $75/tonne operating, smelting and sustaining costs. All prices are stated in $USD. Silver Equivalents were calculated from the interpolated block values using relative recoveries and prices between the component metals and silver to determine a final AgEq value. The same methodology was used to calculate the ZnEq value. Mineral resources are not mineral reserves until they have demonstrated economic viability. Mineral resource estimates do not account for a resource's mineability, selectivity, mining loss, or dilution. The current Resource Estimate was prepared by Garth Kirkham, P.Geo. of Kirkham Geosciences Ltd. who is the Independent Qualified Person responsible for presentation and review of the Mineral Resource Estimate. All figures are rounded to reflect the relative accuracy of the estimate and therefore numbers may not appear to add precisely.

Robert Macdonald, MSc. P.Geo, is a Qualified Person as defined by National Instrument 43-101 and supervised directly the collection of the data from the CLM Project that is reported in this disclosure and is responsible for the presentation of the technical information in this disclosure.

On behalf of the Board of Directors

"Lawrence Page"

Lawrence Page, Q.C.
President & Director, Southern Silver Exploration Corp.
For further information, please visit Southern Silver's website at southernsilverexploration.com or contact us at 604.641.2759 or by email at ir@mnxltd.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.

This news release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Southern Silver Exploration Corp. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97026.

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Today’s News

BWR Exploration Inc. Receives Assays confirming Nickel and Copper Mineralization in 4 drill holes at its Wholly-Owned Vendôme Sud Project, Abitibi Region of Quebec

TORONTO, Sept. 20, 2021 (GLOBE NEWSWIRE) — BWR Exploration Inc. (TSX.V: BWR) (“BWR” or the “Company”) is pleased to announce receipt of assays…

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TORONTO, Sept. 20, 2021 (GLOBE NEWSWIRE) -- BWR Exploration Inc. (TSX.V: BWR) (“BWR” or the “Company”) is pleased to announce receipt of assays regarding four exploratory drill holes completed earlier this summer (see press release dated August 11, 2021) on its wholly-owned Vendôme Sud Property, located in the Abitibi Region of Northern Quebec, approximately 30 km. north of Val d’Or. The recent drill program by BWR was designed to investigate and confirm historical nickel and copper mineralization at various locations on the property. The program confirmed nickel and copper mineralization of sufficient grade that warrants further exploration. The best assay interval of 6.75m averaging 0.59% copper and 0.56% nickel at a vertical depth of about 50 metres was encountered in the first hole. BWR is currently planning a follow-up exploration program, that may include additional ground and down-hole geophysical surveys, as well as petrographic examination of selected drill core to investigate the mineralizing event.

Assay highlights of the four-hole drill program are presented in the following table:

Hole NumberFromToIntervalCu %Ni %
      
BWR-V-21-0165.5103.337.80.340.27
including65.58115.50.440.36
containing66.7573.56.750.590.56
followed by87.5968.50.540.31
      
BWR-V-21-0279.99111.10.420.27
containing85.5915.50.550.4
followed by99.5121.622.10.170.08
including99.5101.520.90.3
including116121.65.60.290.19
containing119.45120.51.050.090.6
      
BWR-V-21-0310210860.060.14
      
BWR-V-21-0490104.714.70.150.18
including101.2104.12.90.460.48
*Assays presented above are as measured in the core box and not ‘true widths’

BWR successfully validated the two holes that were drilled in 1962 by Canadian Shield Corporation Inc., where the earlier results are comparable to the recent drill results of holes BWR-V-21-01 and BWR-V-21-02 by BWR. Nearby, (approximately 100 metres north) a fairly deep (150m + +) magnetic anomaly that had been interpreted as a mafic or ultramafic intrusive has also been confirmed and is anomalous in nickel, this intrusive may be the heat source for the observed alteration in the region. BWR’s third hole explored this geophysical anomaly to about 200 meters vertical depth. Hole BWR-V-21-03 encountered 6 meters of anomalous nickel values (0.14% over 6 meters). The historical “C Zone” is located approximately 1 km to the west of the “A Zone” where drilling in 1963, by Canadian Shield, identified similar mineralization for the “C Zone” as at the “A Zone”. BWR completed hole BWR-V-21-04 at the approximate location of the earlier hole, confirming the tenor of mineralization encountered in 1963 by Canadian Shield.

Assay results and discussion for Holes BWR-V-21-01 and BWR-V-21-02

These two holes were drilled in the “A-zone” attempting to replicate and/or confirm historic results from DDH 5-62-5 and 62-13 drilled by Canadian Shield in 1962. BWR’s first two holes intersected what appears to be a steeply dipping volcanic assemblage of rhyolite intercalated with intermediate to mafic metavolcanics. The mafic components appear moderately chloritized with pervasive quartz-carbonate veining. Relatively wide zones of moderate mineralization were encountered in holes BWR-V-21-01 and BWR-V-21-02 of 37.8m in hole 01 and 11.1m plus 22.1m in hole 02. These measurements are down hole core measurements, not true widths.

Hole BWR-V-21-01 was drilled at a dip of -50 degrees, bearing 205 degrees (SW) being a similar attitude to historical hole DDH 5-62-5 reportedly drilled 50 years earlier. The first hole by BWR intersected a pervasive mineralized package with intriguing assays of 0.34% Cu and 0.27% Ni over a drill length of 37.8 metres consisting of variably altered and mineralized ultramafic volcanics (66.75m to 73.5m that assayed 0.59% Cu and 0.56% Ni), weakly mineralized and altered rhyolite (79.8m to 88.9m), variably mineralized and altered mafic volcanics (88.9m to 103.3m), the hole ended in relatively poorly mineralized rhyolite at 201 metres.

Hole BWR-V-21-02 was drilled at a dip of -60 degrees, bearing 205 degrees (SW) undercutting the previous hole (BWR-V-21-01). In this hole the drill intersected an interpreted down dip extension of the mineralized package encountered in the first hole. It is described as containing pervasive mineralization between 79.9m to 91m representing 11.1 metres in drill core length that assayed 0.42% Cu and 0.27% Ni and 116m – 121.6m representing 5.6m in drill core length that assayed 0.29% Cu and 0.19% Ni. The mineralized zone consists of variably disseminated to semi-massive mineralized ultramafics (85.5m to 91m that assayed 0.55% Cu and 0.4% Ni), as well as a variably mineralized rhyolite from 91m to 117.3m, followed by weak to variably mineralized ultramafics from 117.3m to 122.7m. The second hole ended in poorly mineralized rhyolite at 252 metres.

Assay results and discussion for Hole BWR-V-21-03

This exploratory hole was drilled at a dip of -65 degrees, bearing 220 degrees (WSW), designed to intercept a geophysically-rendered aeromagnetic high coincident with an excess mass (gravity) anomaly, akin to an ultramafic intrusive, interpreted as being related to the mineralized mafic-ultramafic lenses observed in holes BW-V-21-01 and 02, located approximately 100 meters south. This hole intersected a sequence of mafic (gabbro/peridotite) to ultramafic (komatiite) volcanics, intercalated with granodiorite and other felsic intrusives / tuffs and schists (diorite, granodiorite, rhyolite), ending in a rhyolite tuff at a final drill hole length of 261 meters. Sulphide mineralization was observed to be brecciated and mostly within quartz-carbonate and carbonate stringers and veinlets, suggestive of remobilization into the volcanic sequence. A short 6m section of core between 102m and 108m returned anomalous assays of 0.06% Cu and 0.14% Ni.

Assay results and discussion for Hole BWR-V-21-04

Approximately one kilometer to the west of the “A zone” is the “C zone”. Hole BWR-V-21-04 was designed to test historic “C Zone” mineralization encountered in 1963 drill hole C-63-1 that included 5.5 feet grading 0.77% Ni + 0.65% Cu. Hole BW-V-21-04 was drilled at a dip of -45 degrees, bearing 205 degrees (SW) being the reported attitude of hole C-63-1. BWR’s hole intersected a series of rhyolite tuffs intercalated and intruded by intermediate to mafic units, followed by an ultramafic assemblage of komatiite and peridotite. Mineralization in this hole appeared very similar to the mineralization observed in the first two holes located 100 metres east. Hole BWR-V-21-04 intersected 14.7 meters of mineralization between 90 and 104 metres of core length that assayed 0.15% Cu and 0.18% Ni, including 2.9 meters (between 101.2m and 104.1 that assayed 0.46% Cu and 0.48% Ni.

Sampling protocol and security

Minroc Management Limited’s senior geologist Francis R. Newton (B.Sc.) as project geologist, was tasked with managing this drill project, working alongside Sahil Alurkar (M.Sc.). All samples were selected by Mr. Newton and Mr. Alurkar. Core was logged and cut in a secure site, owned and operated by Services MNG, in Val d’Or, Québec. Minroc Management Limited rented a core shack from Services MNG where Minroc geologists logged the core. Samples were cut with a diamond saw by Services MNG staff, under the supervision of Francis R. Newton, P. Geo, and half of the core for each sample interval placed in labelled plastic bags along with a sample tag for each individual sample. Samples were delivered to ALS Minerals in Val d’Or at the end of the program. Once at the lab, the samples were tested using “ME-ICP41a – Intermediate Level Aqua Regia” for multi-element analysis.

Mr. Francis Newton, P.Geo (OGQ#2129), in collaboration with Mr. Neil Novak P. Geo. are responsible for and have reviewed the technical disclosure of this release. Mr. Newton as an independent qualified person pursuant to NI 43-101 guidelines for technical disclosure, and Mr. Novak as a qualified person (not independent) pursuant to NI 43-101 guidelines both approve the technical content of this press release.

BWR Exploration Inc. is a public company focused on exploring for base and precious metals, with its flagship Little Stull Lake Gold Project in NE Manitoba along with other exploration projects in Northern Ontario, and Northern Quebec, Canada. Management of BWR includes an accomplished group of exploration/mining specialists with many decades of operational experience in the junior resource sector in Canada and abroad. There are 101,442,461 shares currently issued.

Neither the Toronto 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.

For more information about BWR’s Vendôme Sud Project please visit our website:

http://www.bwrexploration.com or call/email:

Neil Novak, P.Geo., President, CEO & Director,
BWR Exploration Inc.
82 Richmond St. E
Toronto, ON
M5C 1P1
Office: 416-848-6866
nnovak@bwrexploration.com

For additional information please contact:

Carl Desjardins
Paradox Investor Services Inc.
Office: 514-341-0408
carldesjardins@paradox-pr.ca


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