Base Metals

Getchell Gold Corp. Files Technical Report for the Mineral Resource Estimate at Fondaway Canyon, NV

Getchell Gold Corp. Files Technical Report for the Mineral Resource Estimate at Fondaway Canyon, NV

Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) ("Getchell" or the "Company") is pleased to announce the filing of the Mineral Resource Estimate ("MRE") technical report for the Fondaway Canyon project in Churchill County, Nevada. The MRE conceptualizes potential open pit and underground mining.

Mineral Resource Estimate Key Highlights

  • Large 'at surface' Mineral Resource Estimate in a premier gold mining jurisdiction;
  • Inferred Mineral Resource of 38.3 million tonnes at an average grade of 1.23 g/t Au for
    1,509,100 ounces of gold;
  • Indicated Mineral Resource of 11.0 million tonnes at an average grade of 1.56 g/t Au for an additional 550,800 ounces of gold;
  • Gold mineralization remains open for further expansion in all contributing zones; and
  • Technical report available on the Company's website and on SEDAR.

"The quantity of gold, the grade, the exposure of the mineralization at surface, the robustness of the Mineral Resource Estimate, and the location in a supportive global gold mining epicenter, places the Fondaway Canyon project in a highly select and coveted group." states Mike Sieb, President, Getchell Gold Corp. "Combined with a strong gold price and healthier forecast, the mineralization fully open for further expansion, and aggressive advancement planned, Getchell Gold Corp. is poised to realize significant upside this year."

The results of the Mineral Resource Estimate are as follows:

Table 1: Fondaway Canyon Global Mineral Resources Estimate at a price of US$ 1,650 per ounce.

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Table 2: Fondaway Canyon Mineral Resource Estimate by Zone

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Figure 1: Fondaway Canyon Project MRE showing conceptual pits and Central Zone gold grade block model

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Figure 2: Fondaway Canyon Project MRE 3D gold grade block model - Colorado SW section

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Figure 3: Fondaway Canyon Project MRE 3D gold grade block model - North Fork Section

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Figure 4 displays a long section that highlights the near surface mineralization of the Paperweight shear vein and the long section in Figure 5 highlights the continuity of the mineralization and the open down-dip potential of both the Colorado SW and North Fork zones.

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Figure 4: Fondaway Canyon Project 2022 MRE block model - Long section Paperweight to Colorado SW zone

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Figure 5: Fondaway Canyon Project 2022 MRE block model - Long section North Fork to Colorado SW zone

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The Fondaway Canyon Mineral Resources Estimate is based on 518 reverse circulation and diamond drill holes totaling 52,395 metres (171,900 feet) spanning over forty years to the present along a 3.5 km East-West gold trend (Figure 1).

The MRE represents a significant expansion to a historic Mineral Resources Estimate published by a previous operator in 2017 by:

i) Primarily modelling the Mineral Resources as a bulk tonnage target with a conceptual open pit mining scenario versus a solely underground extraction scenario;

ii) The addition of new assay results from 26 diamond drill holes (2017 to 2022) that were completed subsequent to the release of the historic 2017 Mineral Resources Estimate; and

iii) Major discoveries in 2020 and expansion of the new zones during the recent period of drilling.

Nineteen (19) drill holes, FCG20-01 to FCG22-19, totaling 6,973 metres (22,877 feet) drilled by the Company in 2020, 2021, and 2022, were considered in the current MRE and represent a significant component of the expanded gold mineralization.

Nine (9) holes drilled in 2022, FCG22-20 through FCG22-28, totaling 3,473 metres (11,394 feet) were completed subsequent to the cut-off for inclusion into the MRE. The assay results from these nine 2022 holes will be incorporated into a future Mineral Resources Estimate.

Notes on the Mineral Resource Estimate:

  1. The independent and qualified person for the mineral resources estimate, as defined by NI 43-101, is Michael Dufresne, P.Geo., from APEX Geoscience Ltd.
  2. Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. There has been insufficient exploration to define the inferred resources tabulated above as an indicated or measured mineral resource, however, it is reasonably expected that the majority of the Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration. There is no guarantee that any part of the mineral resources discussed herein will be converted into a mineral reserve in the future. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, marketing, or other relevant issues. The mineral resources in this report were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum standards on mineral resources and reserves, definitions, and guidelines prepared by the CIM standing committee on reserve definitions and adopted by the CIM council (CIM 2014 and 2019).
  3. The Mineral Resources Estimate is underpinned by data from 518 reverse circulation and diamond drillholes totaling 52,395m of drilling that intersected the mineralized domains.
  4. The mineral resource is reported at a lower cut-off of 0.3 g/t Au for the conceptual open pit and 2.0 g/t Au for the conceptual underground extraction scenario. The lower cut-off grades and potential mining scenarios were calculated using the following parameters: mining cost = US$2.70/t (open pit); G&A = US$2.00/t; processing cost = US$15.00/t; recoveries = 92%, gold price = US$1,650.00/oz; royalties = 1%; and minimum mining widths = 1.5 metres (underground) in order to meet the requirement that the reported Mineral Resources show "reasonable prospects for eventual economic extraction".
  5. Original Au assays were composited to 1.5 m with 11,957 composites generated overall in the mineralized domains including 9,980 composites generated for the Central Zone, 1,323 for the Mid-Realm / South Mouth Zone, and 654 for the Silica Ridge / Hamburger Hill Zone.
  6. Grade interpolation was performed by ordinary kriging (OK) using 1.5 metre composites (block size of 3m x 3m x 3m).
  7. A default density of 2.56 g/cm3 was used for the mineralized zones.
  8. The mineral resources estimate is categorized as indicated or inferred and classified based on data density, data quality, confidence in the geological interpretation and confidence in the robustness of the grade interpolation. The indicated category was defined by a search ellipse extending 55m along the major axis, 40m along the minor axis, and 10m vertical. In addition, a minimum of 3 drill holes were required, reporting 9 samples with a maximum of 3 samples per drill hole. The inferred category was defined using a search of up to 120 m and requiring at least 1 sample per drillhole from a minimum of 2 drillholes.
  9. High-grade capping supported by statistical analysis was completed on composite data for each zone and was established at 29 g/t Au for the Central Zone, 6.5 g/t Au for the Mid Realm - South Mouth Zone, and 8.0 g/t Au for the Silica Ridge - Hamburger Hill Zone.
  10. The number of metric tonnes was rounded to the nearest thousand and gold ounces was rounded to the nearest hundred, and any discrepancies in the totals are due to rounding effects. Metal content is presented in troy ounces (tonnes x grade (g/T) / 31.10348).
  11. The author is not aware of any known environmental, permitting, legal, title-related, taxation, socio-political or marketing issues or any other relevant issue not reported in the technical report that could materially affect the mineral resource estimate.
  12. The effective date of the Mineral Resources Estimate is December 15, 2022 and the related technical report is available for download on the Company's website and on SEDAR.

About Getchell Gold Corp.

The Company is a Nevada focused gold and copper exploration company trading on the CSE: GTCH and OTCQB: GGLDF. Getchell Gold is primarily directing its efforts on its most advanced stage asset, Fondaway Canyon, a past gold producer with a significant in-the-ground Mineral Resources Estimate. Complementing Getchell's asset portfolio is the Star project, a past high-grade copper, gold, and silver small-scale producer, the Dixie Comstock project, a past gold producer with a historic resource, and one earlier stage exploration project, Hot Springs Peak (Au). Getchell has the option to acquire 100% of the Fondaway Canyon and Dixie Comstock properties, Churchill County, Nevada.

For further information please visit the Company's website at www.getchellgold.com or contact the Company by e-mail at info@getchellgold.com or by phone at +1 647 249-4798.

Mr. William Wagener, Chairman & CEO

Getchell Gold Corp.

The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.

Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the use of proceeds. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of Getchell have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

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Getchell Gold Corp. Extends Colorado SW Zone Along Strike with Two Holes Intersecting Gold Mineralization over a 200m Drill Length Including 1.1 g/t Au over 83.8m, 1.3 g/t Au over 58.0, and 0.8 g/t Au over 98.0m, at Fondaway Canyon, NV

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Western Copper And Gold logo (CNW Group/Western Copper and Gold Corporation)

The Company filed Form 40-F for the year ended December 31, 2022 with the SEC on March 23, 2023 . The Form 40-F includes Western's Annual Information Form ("AIF"), audited consolidated financial statements and management's discussion and analysis ("MD&A"). The Form 40-F is available for viewing and retrieval through EDGAR at www.sec.gov/edgar.shtml .

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The filings described above are also available on the Company's website: westerncopperandgold.com/investors/forms . Western will also provide a copy of the filings to any shareholder, without charge, upon request. Requests may be made by email, telephone, or regular mail.

ABOUT Western Copper and Gold Corporation

Western Copper and Gold Corporation is developing the Casino Project, Canada's premier copper-gold mine in the Yukon Territory and one of the most economic greenfield copper-gold mining projects in the world.

The Company is committed to working collaboratively with our First Nations and local communities to progress the Casino project, using internationally recognized responsible mining technologies and practices.

For more information, visit www.westerncopperandgold.com .

On behalf of the board,

"Paul West-Sells"

Dr. Paul West-Sells
President and CEO
Western Copper and Gold Corporation

Cautionary Disclaimer Regarding Forward-Looking Statements and Information

This news release contains certain forward-looking statements concerning anticipated developments in Western's operations in future periods. Statements that are not historical fact are "forward-looking statements" as that term is defined in the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" as that term is defined in National Instrument 51-102 ("NI 51-102") of the Canadian Securities Administrators (collectively, "forward-looking statements"). Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible" and similar expressions, or statements that events, conditions or results "will", "may", "could" or "should" occur or be achieved. In making the forward-looking statements herein, the Company has applied certain material assumptions including, but not limited to, the assumption that general business conditions will not change in a materially adverse manner.

Forward-looking statements are statements about the future and are inherently uncertain, and actual results, performance or achievements of Western and its subsidiaries may differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements due to a variety of risks, uncertainties and other factors. Such risks and other factors include, among others, risks involved in fluctuations in gold, copper and other commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; risks related to joint venture operations; risks related to cooperation of government agencies and First Nations in the development of the property and the issuance of required permits; risks related to the need to obtain additional financing to develop the property and uncertainty as to the availability and terms of future financing; the possibility of delay in construction projects and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risks and uncertainties disclosed in Western's AIF and Form 40-F, and other information released by Western and filed with the applicable regulatory agencies.

Western's forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and Western does not assume, and expressly disclaims, any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.

SOURCE Western Copper and Gold Corporation

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FPX Nickel Corp. Logo (CNW Group/FPX Nickel Corp.)

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About the Decar Nickel District

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About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at www.fpxnickel.com or contact Martin Turenne , President and CEO, at (604) 681-8600 or ceo@fpxnickel.com .

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

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