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Kingsmen Resources Ltd. (TSXV: KNG,OTC:KNGRF) (OTCQB: KNGRF) (FSE: TUY) ("Kingsmen" or the "Company") is pleased to report is pleased to report first results from it's on-going surface sampling program of old workings along the Juliettas structure of the Almoloya project. The 100% owned Almoloya gold-silver project, is located 30 km west of its 100%-owned Las Coloradas silver project, in the mining friendly jurisdiction of Parral, Chihuahua, Mexico. The Almoloya project includes the past producing Cigarrero and Las Juliettas mines. The project represents a consolidation of claims into a single, contiguous land package.
A total of 527 samples were collected from historic underground workings and surface samples on the Juliettas prospect in the South Block. Where possible the hanging wall, vein and footwall were sampled. Two long N-trending structures were identified as well as local NW-trending shorter structures. The structures are from 50m to 400m in length, are up to 1.2m wide and are up to 200m deep. The gold mineralization occurs with calcite-dolomite-iron oxide-quartz-magnetite-pyrolusite/psilomelane and pyrite in veins and stockworks. The host rock is limestone with moderate to strong marbling and recrystallization.
Table 1: Distribution of gold assays.
| Samples | Gold g/t |
| 28 samples | >6.16 |
| 82 samples | 1.14 - 5.9 |
| 168 samples | 0.13 - 1.02 |
| 249 samples | <0.13 |
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Sample locations and values are presented on Figure 1. Significant gold values have been obtained over approximately 500 meters (Tables 1, 2, 3 and 4). Click on this link to see Table 3 (82 samples 1.14 - 5.9 g/t gold) and Table 4 (168 samples 0.13-1.02 g/t gold).
President, Scott Emerson, commented, "We are thrilled with these initial surface results from the South Block, which includes a sample of over 34.1 g/t gold over 0.5m. This confirms our belief in the expansive mineralization system at Almoloya. The high gold values point to exciting new targets. These findings position us well for continued growth and value creation for our shareholders."
The persistence of structurally controlled high grade gold mineralization shows the Juliettas prospect to be of high exploration potential. The company's sampling program will continue over the South Block which has had artisanal mining in the area.
Figure 1
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Figure 2
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Table 2: 28 samples > 6.16 g/t gold
| SAMPLE # | FROM (m) | TO (m) | Width (m) | Gold g/t | TYPE_COLLECTION |
| 1 | 7 | 8.5 | 1.5 | 9.03 | SURFACE |
| 2 | 0.7 | 1.2 | 0.5 | 6.90 | UNDERGROUND |
| 3 | 1.7 | 2.7 | 1 | 10.88 | UNDERGROUND |
| 4 | 0 | 0.5 | 0.5 | 6.18 | UNDERGROUND |
| 5 | 0 | 1.2 | 1.2 | 7.35 | UNDERGROUND |
| 6 | 1.2 | 2 | 0.8 | 6.78 | UNDERGROUND |
| 7 | 0 | 0.5 | 0.5 | 8.03 | UNDERGROUND |
| 8 | 0 | 1 | 1 | 7.72 | UNDERGROUND |
| 9 | 0.6 | 1.1 | 0.5 | 7.34 | UNDERGROUND |
| 10 | 1.2 | 1.8 | 0.6 | 6.21 | UNDERGROUND |
| 11 | 0.8 | 1.5 | 0.7 | 12.84 | UNDERGROUND |
| 12 | 0 | 1 | 1 | 8.11 | UNDERGROUND |
| 13 | 0.6 | 1.1 | 0.5 | 34.09 | UNDERGROUND |
| 14 | 0 | 0.5 | 0.5 | 16.14 | UNDERGROUND |
| 15 | 0 | 1 | 1 | 7.86 | UNDERGROUND |
| 16 | 1.1 | 1.6 | 0.5 | 7.92 | UNDERGROUND |
| 17 | 0 | 0.7 | 0.7 | 6.30 | UNDERGROUND |
| 18 | 0.5 | 1.1 | 0.6 | 15.76 | UNDERGROUND |
| 19 | 0.8 | 1.3 | 0.5 | 12.80 | UNDERGROUND |
| 20 | 0 | 0.5 | 0.5 | 10.75 | UNDERGROUND |
| 21 | 0 | 0.5 | 0.5 | 8.30 | UNDERGROUND |
| 22 | 0.8 | 1.3 | 0.5 | 7.54 | UNDERGROUND |
| 23 | 0.5 | 1.7 | 1.2 | 8.55 | UNDERGROUND |
| 24 | 0 | 1.3 | 1.3 | 14.86 | UNDERGROUND |
| 25 | 0.5 | 1.1 | 0.6 | 6.83 | UNDERGROUND |
| 26 | 0 | 0.6 | 0.6 | 8.38 | UNDERGROUND |
| 27 | 0.9 | 1.5 | 0.6 | 9.57 | UNDERGROUND |
| 28 | 0 | 0.5 | 0.5 | 8.73 | UNDERGROUND |
| Actlabs Mexico S.A. de C.V. | Â | Â | Â | Â | |
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Samples were assayed for gold by fire assay fusion with atomic absorption finish at Actlabs Mexico, in Zacatecas.
About Almoloya
The Almoloya Project represents the culmination of a land consolidation process. The now-contiguous land package brings together historically fragmented claims, many of which were previously held and explored by major operators. Extensive historical data from these programs, conducted up until the early 2000s, is available to Kingsmen and provides a valuable foundation for future exploration. Since that time, the project has seen no systematic exploration by either junior or major companies, leaving significant potential untapped in a highly prospective and historically productive district.
Click here to see locator map: https://www.kingsmenresources.com/area-history.
Qualified Person
Kieran Downes, Ph.D., P.Geo., a director of Kingsmen and Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical disclosure set out in this news release.
About Kingsmen Resources
Kingsmen Resources (TSXV: KNG,OTC:KNGRF) (OTCQB: KNGRF) (FSE: TUY) is a discovery-driven explorer focused on unlocking the potential of two 100%-owned precious-metal districts Las Coloradas and Almoloya located in the historic Parral region of Chihuahua, Mexico, one of the most productive silver belts in the world. Both projects cover past-producing high-grade silver and gold mines and lie directly on the structural corridors that host many of Mexico's most notable silver-gold deposits. Recent drilling at Las Coloradas has confirmed new zones of shallow, high-grade mineralization and highlighted the potential for multiple parallel structures across an 4.5-kilometre trend. At Almoloya, historic drilling, extensive underground workings, and multiple vein systems point to strong potential for both vein-hosted and carbonate-replacement style mineralization. Kingsmen also owns a 1% NSR royalty on the La Trini claims within GoGold Resources' Los Ricos North project in Jalisco State, Mexico.
On behalf of the Board,
Signed: "Scott Emerson"
Scott Emerson, President & CEO
Phone: 604-685-9316
Email: se@kingsmenresources.com
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.
Forward-Looking Statements:
Certain disclosure contained in this news release may constitute forward-looking information or forward-looking statements, within the meaning of Canadian securities laws. These statements may relate to this news release and other matters identified in the Company's public filings. In making the forward-looking statements the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. These risks and uncertainties include but are not limited to: the political environment in which the Company operates continuing to support the development and operation of mining projects; the threat associated with outbreaks of viruses and infectious diseases; risks related to negative publicity with respect to the Company or the mining industry in general; planned work programs; permitting; and community relations. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, 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 required by law.
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