Compass Confirms High Grades and Wide Mineralized Intervals at the Massala Prospect

Phase 1 of Drilling Program 93% Complete

Compass Gold Corp. (TSXV: CVB,OTC:COGDF) (Compass or the Company) is pleased to provide results from the first drilling fence from the recently initiated resource definition diamond drilling at the Massala prospect, located on the Company's Sikasso Property in Southern Mali (Figure 1).

Highlights

• Phase 1 drilled along 340 m mineralized zone of the approximately 3 km Tarabala fault within the Massala Small Mine Permit application area

• Drilling has intercepted wide zones of significant mineralization, including several higher-grade zones; remains open down-dip

• Visible gold present (>100 g/t Au (from 34.5 m))

• Widest interval of gold mineralization was 18 m at *4.99 g/t Au (from 17.3 m), including 3.8 m @ *21.94 g/t Au (from 31.5 m)

• Operations at Massala continue uninterrupted, with all personnel safe and the Company continuing to monitor developments in Mali.

Compass CEO, Larry Phillips, said, "Our initial results on the Massala resource area are highly encouraging. We have intercepted wide intervals of significant gold mineralization, including several intervals with much higher gold grades. The presence of coarse visible gold in drill core now confirms the presence of "nuggety" gold at Massala. As we continue to move along strike, the closely-spaced drill holes will give us additional confidence as we work to define an initial resource along the much larger mineralized Taraba Trend."

Dr. Sandy Archibald, PGeo, Technical Director, added, "I am gratified to see that our resource definitional drilling at the Massala prospect has thus far been successful in identifying and tracing narrow higher-grade structures within wide mineralized zones, previously identified by trenching and earlier deeper drilling programs at Massala. I eagerly await the results of the next drill holes as we continue the drilling program."

* The overlimit assay value (>100 g/t Au) has been capped at 100 g/t Au to calculate the mineralized intervals. Once received, the updated assay value will be published in a later news release.

Massala Drilling Results

As part of an initial 42-hole (1,400 m) diamond drill program, a total of 39 holes (1,329 m) have been drilled to date at the Massala prospect to test the down-dip extension and strike potential of gold mineralization previously identified by near-surface drilling and trenching (See Compass press releases March 28, 2021, September 18, 2022, and March 5, 2024).

The latest holes were completed over a zone of previously drill-tested and trenched mineralization to test the grade and continuity of a 340-m panel of the best gold mineralization identified thus far (Figure 1). Previous drilling in the area recorded 24 m @ 2.35 g/t Au (SAAC123) (see Compass Press release March 28, 2021), and trenching recorded 20 m @ 4.13 g/t Au at a depth of 5 m) in trench MATR001 (see Compass Press release August 19, 2024). Gold mineralization was present in all drill holes and was associated with narrow quartz veins associated with the highly sheared, graphite-rich, Tarabala fault. Wide zones of mineralization were recorded in two holes: 18.0 m @ *4.99 g/t Au (from 17.3 m, MADD001), and 9.01 m @ 1.92 g/t Au (from 15.6 m, MADD007). Individual intervals within these mineralized intervals are narrower with higher gold grades (Table 1). For example, MADD001 had a mineralized interval of 3.8 m @ *21.94 g/t Au (from 31.5 m), and MADD007 contained an interval of 5.4 m @ 2.87 g/t Au (from 15.6 m). The highest grade interval was 1 m @ >100.00 g/t Au (from 34.5 m, MADD001; reanalysis pending), which corresponded with visible gold in a quartz vein at the contact with the graphite schist country rock.

Figure 1: Diamond drill hole locations and significant results at Massala.

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The current drilling program has completed four fences to the north (500mN) and eight fences through a series of 30 m step-outs to the south (fence 185mN). Fence 185mN was drilled to investigate a near surface drilling intercept of 21 m @ 0.86 g/t Au (inc. 1 m @ 7.85 g/t Au) from drill hole SAAC189 (see Compass Press release May 18, 2021).

Table 1. Current drilling results from Phase 1 resource drilling at Massala

¹True thicknesses are interpreted as 70-90% of stated intervals. ² Intervals use a 0.2-gram-per-tonne gold cut-off value. ³ The overlimit assay value (>100 g/t Au) has been capped at 100 g/t Au to calculate the mineralized intervals ⁴ Reanalysis of sample is pending.

Figure 2: Cross section on the 400mN section line at Massala. Previous drilling and trenching is illustrated, along with results from the current drilling program (MADD001, 002, 007). 

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Mali Operational Update

Dr. Madani Diallo, Exploration Manager, Director, said, "While the recent events involving political and social disruptions present challenges to everyone in the country, our team is secure, and we have not experienced any significant disruptions to our drilling operations or permitting initiatives. The SGS laboratory in Bamako has temporarily paused assaying, and we are making arrangements for future samples to be analyzed at the SGS location in Burkina Faso. We continue to conduct our activities in Mali in the normal course, and we remain in daily contact with our in-country team, while continuing to engage actively and constructively with stakeholders both within and outside of government."

Although recent media reports have highlighted road blockages and security incidents in parts of Mali, the Company has not experienced any material disruption to its ongoing activities at the Massala Project in southern Mali. The Company continues to advance the Massala Small Mine Project and related development planning activities while closely monitoring conditions in the country. The Company will continue to assess developments as they evolve and will provide updates regarding any material impacts on its activities or operations.

Technical Details & QAQC

All 39 diamond holes at the Massala prospect were drilled at dips of 55°, and azimuths of 270° (towards the west). Hole lengths varied from 27 to 46.5 m. The holes were designed to test the grade and continuity of near-surface mineralization that is anticipated to form part of a resource estimation on the prospect. Drilling was performed by Technisol (Bamako, Mali). All samples were prepared by Compass staff under the guidance of Dr. Sandy M. Archibald, P.Geo. (Aurum Exploration Services).

All diamond drill core samples were collected following industry best practices, and an appropriate number and type of certified reference materials (standards), blanks and duplicates were inserted to ensure an effective QAQC program was carried out. Bulk density analysis was performed on the core. Samples were prepared and analyzed at SGS SARL (Bamako, Mali) by fire assay technique FAE505. All standard and blank results were reviewed to ensure no failures were detected.

About Compass Gold Corp.

Compass Gold, a public company incorporated in Ontario, is a Tier 2 issuer on the TSX-V. Through the 2017 acquisition of MGE and Malian subsidiaries, Compass Gold holds gold exploration permits located in Mali that comprise the Sikasso Property. The exploration permits are located in three sites in southern Mali with a combined land holding of approximately 900 sq. km. The Sikasso Property is located in the same region as several multi-million-ounce gold projects¹, including Morila, Syama, Kalana and Komana. The Company's Mali-based technical team, led in the field by Dr. Madani Diallo and under the supervision of Dr. Sandy Archibald, P.Geo, is conducting the current exploration program. They are examining numerous anomalies first noted in Dr. Archibald's August 2017 "NI 43-101 Technical Report on the Sikasso Property, Republic of Mali."

Qualified Person

This news release has been reviewed and approved by EurGeol. Dr. Sandy Archibald, P.Geo, Compass's Technical Director, who is the Qualified Person for the technical information in this news release under National Instrument 43-101 standards.

Forward‐Looking Information

This news release contains "forward‐looking information" within the meaning of applicable securities laws, including statements regarding the Company's planned exploration work and management appointments. Readers are cautioned not to place undue reliance on forward‐looking information. Actual results and developments may differ materially from those contemplated by such information. The statements in this news release are made as of the date hereof. The Company undertakes no obligation to update forward‐looking information except as required by applicable law.

¹ Mineralization on adjacent properties is not necessarily indicative of mineralization on the Company's properties. Any references to exploration results on adjacent properties are provided for information only and do not imply any certainty of achieving similar results on the Company's properties.

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