Base Metals

1844 Resources LTD. (TSX-V:EFF) (the "Company" or "1844"), is pleased to announce the filing of a technical report for its Lac Arsenault Project entitled, "LAC ARSENAULT PROJECT NI 43-101 TECHNICAL REPORT, QUÉBEC, CANADA". The Report dated November 01, 2021, prepared in accordance with National Instrument 43-101 ("NI 43-101") by GoldMinds Geoservices Inc., is available for review on SEDAR website ( www.sedar.com) .

The Lac Arsenault project is located in the Paspébiac area, Gaspésie region, Province of Québec ( Figure 1 ). The project is 100% owned by 1844 Resources Inc.. There is no mineral resources in the Technical Report.

Figure 1 : Localisation of the Lac Arsenault property
https://www.globenewswire.com/NewsRoom/AttachmentNg/fde5912c-277e-4c2f-909d-7259e07e4c2c

The company completed a diamond drilling program at the Lac Arsenault property in 2021. The drilling program consisted of eleven holes totaling 1951.9 metres with 366 core samples (not including blank, standards and duplicate) analyzed at ALS laboratory (Val d'Or, Québec). All samples were assayed for gold by fire assay (FA ICP-AES finish), silver by aqua regia digestion and multi-elements (ICP-AES). Three drill holes LA-21-03, LA-21-02 and LA-21-08 intersected high-grade mineralization and confirm the extension at depth of the mineralized structures (Table 1).

Table 1 : Significant intercepts from drilling at Lac Arsenault property (core lengths)

Hole Name From To Sample Number Length Au g/t
LA-21-03 34.4 34.7 X340188 0.30 3.23
LA-21-03 34.7 35.8 X340190 1.10 2.23
LA-21-02 107.2 107.3 X340172 0.10 5.84
LA-21-02 111.53 111.8 X340177 0.27 1.19
LA-21-02 123.9 124.15 X340181 0.25 2.92
LA-21-08 138.9 139.07 X340442 0.17 2.02

1 Holes were drilled at various angles and the true width are not known at this time.

During the site visit Mr. Duplessis, Eng., took six surface samples (channels and grab samples, Figure 2). The table (Table 2) below show the assays results from these samples. Assay results for the verification samples confirmed the presence of gold showing with a maximum value of 17.43 g/t Au at Baker vein and a minimum value of 6.04 g/t Au at L4W.

Table 2 : Surface samples Assays (Au, Ag, Cu, Pb and Zn)

Location Sample Type Au g/t Ag g/t Cu ppm Pb % Zn % As %
L4W 21904A Channel 1 17 0.002 0.002 0.135
L4W 21905A Channel 6.04 17 387 0.803 0.269 1.870
L4W 21906A Channel 11.23 129 916 3.520 1.470 3.710
Mersereau 21907A Grab 7.49 114 262 4.720 0.222 5.010
Baker 21908A Grab 17.43 204 266 8.290 0.064 3.610
Marleau 21909A Grab 1 9 0.047 0.002 0.949

Figure 2 : Location of the independent surface samples, Lac Arsenault
https://www.globenewswire.com/NewsRoom/AttachmentNg/24adf279-94fc-49f3-977a-89fae605eddb

The Lac Arsenault property has excellent exploration potential along strike and at depth surrounding the gold showings. The company continue to refine its understanding of the structural complexity to help interpret and define other potentially mineralized structures along the different vein zones.

Qualified Person:

The technical report has been prepared by the following "Qualified Persons", all of whom are considered independent consultants of 1844 Resources Inc., for the purposes of section 1.5 of the NI 43-101, and all of whom have reviewed the information in this press release that is summarized from the Technical report:

  • Merouane Rachidi. P. Geo., Ph.D., (OGQ#1792)
  • Claude Duplessis, P. Eng., (OIQ #45523)

The technical content of this press release has been reviewed and approved by Mr. Bernard-Olivier Martel, P. Geo, Head of Exploration from 1844 Resources Inc.

Quality Control

During the 2021 drilling program, all individual samples were taken from the NQ core and sawed in half, with one-half sent to ALS laboratory at Val d'Or, Québec and the other half retained for future reference. A strict QA/QC program was applied to all samples; which includes insertion of mineralized standards and blank samples for each batch of 20 samples. All core samples were analysed for gold using fire-assay, for silver and base metals using Aqua regia digestion.

About the Lac Arsenault Project

The Lac Arsenault property is located in the Paspébiac area, Gaspésie region, Province of Québec. The property is 100% owned by 1844 Resources Inc. (Formerly Gespeg Resources Inc.). The Lac Arsenault project composed by 75 exploration claims (CDC) totaling an area of 343.19 Ha. The Lac Arsenault project is located in a politically stable and low-cost mining environment.

About 1844 Resources Inc.: 1844 is an exploration company with a focus in strategic and energetic metals and underexplored regions "Gaspé, Chibougamau Québec". With a dedicated management team, the Company's goal is to create shareholder value through the discovery of new deposits.

1844 Resources Inc.

(signed) " Sylvain Laberge "

Sylvain Laberge
President and CEO
514.702.9841
slaberge@1844resources.com

Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


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1844 Resources

1844 Resources

Overview

The Gaspe Peninsula in southeastern Quebec covers approximately 11,390 square miles of thick forest and free-flowing rivers and lakes. Despite its humble appearance, this region stands as one of the definitive districts for geological and mineral exploration in Canada, a reputation in the midst of making a strong comeback.

In 1844, Sir William Logan, founder and first director of the Geological Survey of Canada mapped the majestic Gaspe Peninsula, unknowing the exceptional copper mining opportunities the region would later present. After decades of under exploration, Gaspe presents investors and active copper and polymetallic companies the opportunity for exciting discovery and economic success.

1844 Resources Inc. (TSXV:EFF) is an exploration company with a focus on grossly underexplored regions of Gaspé and Chibougamau in Québec. The company’s robust project portfolio includes the Vortex, Native Copper, Davidson and Lac Arsenault projects.

1844 Resources’ strategic positioning in the Gaspe Peninsula allows it to leverage its rich past-producing mining history. The prolific Gaspe Copper Mine, a subsidiary of Noranda Mines Limited in Murdochville, produced approximately 141 million tons at 0.85 percent copper from 1954 to 1999. 1844 Resources could likely see similar margins with exploration and project development today.

The company’s other region of operation in Chibougamau presents exceptional exploration upside potential with its established roadways, railroad transportation access and widespread gold and copper mineralization discovered in the early 1950s. Both Chibougamau and Gaspe are primed for extensive revitalization and exciting first-mover exploration opportunities.

After finalising a purchase agreement to acquire 100 percent undivided interest of nine claims in the Chibougamau region in 2020, 1844 Resources began its initial exploration and prospecting work program on the Davidson Project.

1844 Resources’ secondary asset is the Native Copper project in the Municipality of Chandler, which is comprised of 156 claims. The project is part of the Mont Alexandre syncline, associated with an important metallotect volcanic horizon part of the Lake McKay Member, which lies within the greenstone belt present in the Gaspe Peninsula.

1844 Resources’ management team consists of world-class experts in the mining sector. The team combines over 100 years of experience in copper resources, finance and geological exploration. These attributes prime the company for outstanding economic success and mineral yield potential in the growing copper market.

Company Highlights

  • 1844 Resources is focused on the underexplored regions of Gaspé and Chibougamau and its exciting portfolio of copper and polymetallic projects, including the Vortex, Native Copper, Davidson and Lac Arsenault Gold projects.
  • The Gaspe Peninsula has a rich history of past-producing successes, stemming mainly from its Gaspe Copper mine. The company has strategic positioning close to this especially valuable copper resource.
  • 1844 Resources’ management team consists of strong leaders in the copper and mineral exploration sector, who bring over 100 years of combined expertise in financial resource development and project acquisition.

Key Projects

Vortex Project

The Vortex project is a copper, molybdenum and gold project, which adjoins the Glencore and Soquem property, situated at Sullipek East and 25 kilometers west of Murdochville. The project has seen extensive exploratory and developmental work since 2000, which significantly benefits 1844 Resources’ future plans for the project.

Between 2009 and 2011, the Vortex had over 4,700 meters of combined drilling, geophysics and soil surveys and an exciting discovery of 0.94 percent copper at 29 meters in 2012. Strategically positioned near the Glencore and Soquem portion of the property, estimated resources hover between 2,240,000 tons at 1.09 percent copper and 5,500,000 tons at 0.88 percent copper.

The next steps for Vortex include a 7,000-meter drill program planned for 2021. 1844 Resources remains excited for the future of this project and could see similar mineralization and discovery success as past projects from the prolific Gaspe Copper mine.

Native Copper Project

The Native Copper project is an exceptional greenfield copper exploration opportunity situated within the Gaspe greenstone belt, west of Chandler, Quebec. The property comprises 156 claims divided into four sectors: Native Copper South, North-west, North-East and Central. 1844 Resources has 100 percent undivided interest in the entirety of these claims.

This strategically positioned asset spans 28 kilometers in length on a horizon that is known to generate multiple mineralized copper zones and has already shown nine indicators in the area. To date, the project has seen extensive prospecting, trenching and drilling, which has revealed copper grades upwards of 5.38 percent.

The company intends to conduct an exciting Airborne geophysics program in mid-2021.

Davidson Project

The Davidson project comprises 33 claims situated within the historic Chibougamau mining district. The asset is strategically located directly south of the past-producing Icon Mine. 1884 Resources has a 50/50 joint venture with J.A. MacLeod Exploration Reg’d for Davidson.

The project has produced over 1,616,567 tons of copper at grades of 3.07 percent copper across several known sources on the property. Davidson displays exceptional exploration upside with its close proximity to Route 167 North East of Chibougamau and several prospective copper showings, including Clero, Blondeau and Bouzan-Cuivre targets.

The company remains excited to continue exploring this highly prospective project.

Lac Arsenault Gold Project

The Lac Arsenault gold project consists of 75 mining claims equivalent to 3,918 hectares in the southern part of the Gaspé Peninsula and situated North-West of Port-Daniel and North-East of Bonaventure. 1844 Resources has 100 percent undivided interest in the entirety of these claims.

The project sits along the Grand Pabos Fault, which is known for high-grade gold, silver, copper and lead showings North of the Riviere Garin Fault. Between 2005 and 2006, Lac Arsenault saw preliminary prospecting and drilling on the property, but end results were not made available in any government report. In March 2021, the company also announced the commencement of a 2,000-meter diamond drilling program for the project.

Management Team

Sylvain Laberge — President, CEO & Director

After obtaining a degree in Hotel management Sylvain Laberge entered into a sales career in a different sector. He became part of a new company founded in 1999, Renmark Financial Communication, an enterprise specializing in Investor Relations, where he became VP and developed an interest in emerging companies and especially mining exploration. Laberge has been managing Gespeg since 2013 and also managed other junior companies during that period. He is presently a director of Omineca Mining.

Andrew Davidsoni CA — CFO, Secretary & Director

A graduate of the University of Calgary (BComm), Andrew Davidson is a Chartered Accountant with Certification in both Saskatchewan and Alberta. Davidson’s extensive experience in junior natural resource finance and international financial reporting standards has been gained through years of experience in the Canadian junior resource markets and in public practice accounting in both the Alberta and Saskatchewan markets, focusing specifically on assurance for publicly listed enterprises. He is also involved as an officer or director in several other junior resource exploration and production.

Bernard-Olivier Marteli — Manager of Exploration

Bernard-Olivier Martel graduated from the University of Quebec in Montreal in 1999. He is a member of the Geologist Order of Quebec and acts as a qualified person under the National Instrument 43-101. His experience includes government services, engineering and geological and mineral exploration. Before and after graduation, he worked on various mapping projects for the Quebec Department of Natural Resources. Since 2004,

Martel has worked exclusively for the mining industry as a consulting geologist for various exploration companies in Quebec and Ontario. In addition to his duties as technical director of geology for Gespeg Copper Resources, Martel acts as a geologist responsible for the exploration work for Explo-Logik Inc., a mineral exploration services company. projects in recent years: Nouveau-Monde Graphite, Maple Gold Mines, Laurion Mineral Exploration Inc. Tarkus Resources, Fancamp Exploration Ltd., Jourdan Resources and many others.

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