Getchell Gold Corp. Intersects Multiple Gold Intervals Including 8.8 g/t Au over 8.1 m Within a Broader 3.0 g/t Au over 59.3 m Interval at the North Fork Zone, Fondaway Canyon, NV

Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) ("Getchell" or the "Company") is pleased to provide assay results for drill hole FCG22-22 that successfully intersected multiple significant intervals of gold mineralization at the North Fork zone in the Central Area of the Fondaway Canyon project in Nevada.

Key Highlights

• FCG22-22 intersected four significant gold mineralized intervals including 8.8 g/t Au over 8.1 m within a broader 3.0 g/t Au over 56.6 m interval, and 2.4 g/t Au over 21.7 m;
• Extends North Fork mineralization 50 metres to the south and east;
• North Fork zone remains open in all directions;
• Six additional holes completed (FCG22-23 to 28) with assays pending; and
• The Company is awaiting receipt of the Fondaway Canyon Mineral Resources Estimate with expectations of a November delivery date

"The North Fork zone drilling has consistently returned substantial gold intercepts and extended the known mineralization well beyond last year's high-grade discovery," states Mike Sieb, President, Getchell Gold Corp. "Better yet, North Fork continues to remain open in all directions for further expansion."

Drill Hole FCG22-22

Drill hole FCG22-22, the fifth drill hole of the 2022 drill program at Fondaway Canyon (the "Project"), was drilled eastward from the southern margin of the Main Pit (Fig. 1 and 2), a site of small-scale mining during the 1970's and 1980s. The hole was designed to test for a continuation of the North Fork mineralization towards the southeast.

FCG22-22 intersected four significant gold mineralized intervals (Figure 3 and Table 1) consisting of:

• 3.0 g/t Au over 56.6 m down hole including 8.8 g/t Au over 8.1 m (Upper North Fork);
• 2.4 g/t Au over 21.7 m including 7.1 g/t Au over 5.3 m;
• 0.8 g/t Au over 41.6 m; and
• 1.1 g/t Au over 25.8 m.

The upper high-grade interval correlates well with the high-grade gold mineralization encountered in holes FCG21-16 and FCG22-17 that graded 6.3 g/t Au over 50.7 m and 3.8 g/t Au over 85.9 m respectively. This Upper North Fork gold zone is now prominent across at least seven drill holes and remains open in all directions.

The lower three gold intervals encountered down hole indicate the strength and pervasiveness of the mineralizing system at North Fork with additional holes required to delineate the extent of these lower intervals of mineralization.

Figure 1: Fondaway Canyon North Fork gold zone drill location plan map.

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Figure 2: Fondaway Canyon plan map highlighting Getchell's drill results at the North Fork gold zone.

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Figure 3: Cross-section highlighting Getchell's gold intervals at North Fork up to drill hole FCG22-22.

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Drill hole FCG22-22 successfully extended the North Fork gold mineralization 50 metres to the east and south from previous drilling with North Fork remaining open in all directions along strike and up and down dip.

Table 1: Drill Hole FCG22-22 Notable North Fork Gold Intervals

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2022 Fondaway Canyon Drill Program Update

Twelve holes totalling 4,645 metres have been completed (FCG22-17 to FCG22-28) during the 2022 Fondaway Canyon drill program. Assay results have been released for six of those holes (FCG22-17 to FCG22) and assays are pending for holes FCG22-23 through FCG22-28.

Holes FCG22-17, 18, 19, 22, 23, and 25 were designed as step outs to test the extent of the North Fork mineralization encountered in hole FCG21-16 that graded 6.3 g/t Au over 50.7 m. Holes FCG 22, 23, and 25 were additionally designed as step outs to test the extent of two lower North Fork gold intervals discovered in FCG22-18 that graded 2.1 g/t Au over 43.4 m and 1.9 g/t Au over 72.6 m.

The results from holes FCG22-17 to 19 have been previously released with all three holes reporting substantial gold intervals (listed below) that successfully extended the North Fork zone.

FCG22-17: 3.8 g/t Au over 85.9 m including 17.7 g/t Au over 9.9 m (July 26, 2022 news release);

FCG22-18: 2.5 g/t Au over 43.4 m, 2.1 g/t Au over 46.9 m, and 1.9 g/t Au over 72.6 m (August 17, 2022 news release); and

FCG22-19: 1.8 g/t Au over 107.5 m (Sept. 27, 2022 news release).

The Company's first Mineral Resources Estimate for the Fondaway Canyon Gold project is being prepared by Apex Geosciences and will include results up to, and including, hole FCG22-19. Any results released subsequent to FCG22-19 will be in addition to the forthcoming Mineral Resources Estimate and incorporated into the next Mineral Resources Estimate.

Drill holes FCG22-20 and FCG22-21 successfully extended the Colorado SW zone to the east and west with FCG22-20 intersecting four significant gold mineralized intervals starting from surface including a major interval grading 1.7 g/t Au over 56.6 m and FCG22-21 intersecting 0.9 g/t Au over 74.3 m (Nov. 02, 2022 news release).

Similar to North Fork, the Colorado SW zone remains open for expansion both along strike as well as up and down dip.

Hole FCG22-24 was designed to test the Pediment target area located 2 km to the west of the Central Area. The Pediment target area is the westernmost known gold mineralized occurrence along the 3.5 km long E-W trending Fondaway Canyon gold mineralization corridor. The Pediment target area is the site of two vertical drill holes completed in 2002, 02FC-10 and 02FC-11, collared 185 metres apart that intersected 27.4 m grading 0.82 g/t Au and 36.6 m grading 0.52 g/t Au respectively. FCG22-24 successfully drilled through the Rangefront Fault and tested the target zone on the footwall side of this structure with results pending.

FCG22-26 and 27, stationed near the canyon floor on the same pad as FCG21-12 and 15, were respectively designed to test the eastern extent and conduct infill drilling of the Colorado SW zone.

FCG22-28, stationed midway up the north slope, was designed to conduct infill drilling and test the down-dip extent of the Colorado SW zone.

Upon the completion of FCG22-28, inclement weather and deteriorating road conditions dictated the decision to conclude the 2022 drill program at Fondaway Canyon. The technical team at site is focussing on processing the core from the last hole and transporting it to the lab for analysis whilst the senior technical team is closely guiding the efforts in the production of the forthcoming Mineral Resources Estimate.

Scott Frostad, P.Geo., is the Qualified Person (as defined in NI 43-101) who reviewed and approved the content and scientific and technical information in the news release.

The 2022 drill core is being processed using the same methods as the 2020 and 2021 drill programs. The core is cut at Bureau Veritas Laboratories' ("BVL") facilities in Sparks, Nevada, with the samples analyzed for gold and multi-element analysis in BVL's Sparks, Nevada and Vancouver, BC laboratories respectively. Gold values are produced by fire assay with an Atomic Absorption finish on a 30-gram sample (BV code FA430) with over limits re-analyzed using method FA530 (30g Fire Assay with gravimetric finish). The multi-element analyses are performed by ICP-MS following aqua regia digestion on a 30g sample (BV code AQ250). Quality control measures in the field include the systematic insertion of standards and blanks.

Highlighted drill intervals are based on minimum interval lengths of 3.3 metres (10 feet), a 0.25 g/t Au cut-off, and a maximum of 3.3 metres of internal dilution, with no top cut applied. Broader reported Intervals may include internal dilution in the calculated average weighted grades. All intervals are reported as downhole drill lengths and additional work is required to determine the true widths.

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 historic resource estimate and on the Star project, a past high-grade copper, gold, and silver small-scale producer. Complementing Getchell's asset portfolio is Dixie Comstock, 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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