Getchell Gold Corp. Identifies Discrete Anomalies and Refines Drill Targets at the High-Grade Star Copper-Gold-Silver Project, Nevada

Getchell Gold Corp. (CSE: GTCH) ("Getchell" or the "Company") a leading Nevada focused Gold and Copper exploration company wishes to announce that the Induced Polarization ("IP") geophysical survey at the Star Copper-Gold-Silver Project in Pershing County, Nevada, has further identified and refined priority drill targets.

Key Highlights

• Four discrete anomalies, identified at Star Point copper and Star South Cu-Au-Ag occurrences, exhibit IP geophysical responses characteristic of porphyry style mineralization;
• Star Point has two pronounced low-resistivity high-conductivity anomalies that potentially reflect favourable target alteration and mineralization. One anomaly is coincident with a chargeability high, potentially a response to disseminated sulphides, while the other anomaly is structurally linked to the observed high-grade copper mineralization at surface;
• Star South has a prominent low resistivity anomaly that directly underlies the main high-grade Cu-Au-Ag showing and is considered a priority target. Located 600m northwest is a high resistivity anomaly bounded by chargeability anomalies that is potentially indicative of an intrusion fringed by sulphide mineralization; and,
• A drill program is planned for the first half of 2021.

"The 2020 IP geophysical survey, with the increased coverage, has accomplished its objective by modelling well defined anomalies that closely fit with the target mineralizing model and may reflect the source of the high-grade mineralization observed at surface. We look forward to the drill program planned for the first half of next year to test several of these priority targets," states Mike Sieb, President, Getchell Gold.

Star Project IP Results

The Star Copper-Gold-Silver property ("Star" or "Project") is situated in Pershing County, Nevada, approximately 65 kilometres to the North of the Company's flagship Fondaway Canyon advanced stage exploration gold project where a 2,000m drill program has recently concluded (see Company news release dated Nov. 13, 2020). The Star Project comprises two main mineralized occurrences, the formerly producing Star Point copper mine and the Star South Cu-Au-Ag prospect situated 2 kilometres to the south.

Combining the 2018 and 2020 IP surveys, each of the Star Point and Star South target areas are now covered by a series of three parallel geophysical survey lines spaced 250 metres apart. The IP survey results in conjunction with previous geophysical survey responses (e.g. magnetometer and gravimetric surveys), geology and structural interpretations, have identified a number of discrete priority drill targets.

The priority targets that have been identified at Star primarily exhibit a low resistivity response signifying a highly conductive target and classic characteristics of porphyry style mineralization and alteration.

Star Point Drill Targets

A coincident low-resistivity high-chargeability anomaly is located 400 metres to the southwest of the Star Point copper mine occurrence in an area of basin fill cover. The anomaly is bounded by high-angle structures similar to the ones observed at surface at the mineralized Star Point occurrence and represents a high priority target (Figure Line 12).

Approximately 500 metres to the northeast of Star Point a large low-resistivity zone has been identified. The most intense response appears bounded by high angle structures within an overall shallow angle bounding structure that trends upslope to the southwest and at its zenith truncates directly below the Star Point surface occurrence (Figure Line 12 and 13).

Star South Drill Targets

A prominent low resistivity zone crosses all three IP lines directly beneath the Star South showing. This anomaly closely correlates with low chargeability suggesting fluids associated with the mineralizing system has caused alteration to the original sulphides (Figure Line 3 and 11).

Approximately 600 m northwest of the Star South showing in an area of thin basin fill cover is a zone of high resistivity bounded by chargeability anomalies and is potentially indicative of the presence of a possible intrusion rimmed with sulphide rich material. An airborne magnetic high located to the southwest supports the concept of an intrusive center to a mineralized porphyry system (Figure Line 11).

Star Point Cu Mine

The Star Point Cu Mine is the site of a historic, near surface, high-grade copper oxide (tenorite) mine that operated from the late 1940s through the mid-1950s. The ore produced was shipped to a smelter in Utah for processing, but there is no record of shipped tonnage or grade.

The historical development is focused on a 300 x 300 m area at the southern edge of a N-S trending promontory. The surface area is covered with various pits, portals, shafts, open cuts, and associated dumps. The underground development consists of several short shafts, winzes and tunnels of varying length leading to a series of stopes and drifts.

The high-grade copper mineralization is associated with quartz veins hosted within shear zones and the dumps contain numerous strongly mineralized specimens of malachite and azurite.

A surface sampling program, initiated in 2011, with the samples* primarily sourced from the dumps and to a lesser extent from outcrop. Of the 79 grab samples collected, 13 samples grade >0.5% Cu that include 9 samples grading >1% Cu. The higher-grade copper samples are associated with the main workings, with the highest reporting grades of 4.25, 3.00 and 2.35% Cu (for further details refer to Company news release dated Oct. 14, 2020).

Star South Cu-Au-Ag Prospect

The Star South Prospect is located 2 kms south of the Star Point Mine and is comprised of a series of pits, artisanal adits and associated dumps within a 300 x 150 m east-west trending area. The adits appear to follow high-grade copper-gold-silver mineralization hosted within quartz veins that are associated with shears trending in several different orientations.

As part of the 2011 sampling campaign 89 samples* were collected with the vast majority sourced from the dumps in the area. As with Star Point, malachite and azurite mineralization is abundant (Figure 1) and indicative of a high copper content, however Star South is additionally rich in gold and silver.

A significant portion of the samples collected reported impressive grades of copper, gold, and silver in combination. Of the 89 samples collected, 40 samples grade >1% Cu, 21 samples grade >1 g/t Au with 3 reporting >5 g/t Au, and 20 samples grade >30 g/t Ag with 5 reporting >100 g/t Ag.

* The rock grab samples were collected during two separate sampling campaigns in 2011 by the current operator. The vast majority of the samples collected were sourced from the various mine-waste dumps populating the property and represent materials extracted from the adjacent workings. Of note, rock grab samples are by definition selective and not intended to provide nor should be construed as a representative indication of grade or mineralization at the Project. Grab samples are solely designed to show the presence or absence of mineralization, and to characterize the mineralization. The grab samples reported from the project reflect a broad range in grade from below detection limit to the grades highlighted herein.

Samples were processed in two batches and analyzed at two certified analytical laboratory, ALS Global ("ALS") in Reno and American Assay Laboratories ("AAL") in Sparks, Nevada. Rock samples were processed similarly at both labs by drying followed by crushing so 70% passed through a 2mm screen. A 250g split, was then pulverized so that 85% passed through a 75μm screen. All samples were analyzed for gold by standard fire assay using a 30g aliquot. Digestion of a 0.5g aliquot was done by Aqua Regia and finished by 39 element ICP-AES/MS at AAL or 51 element ICP-AES/MS at ALS. Samples with over limit silver, copper and lead were re-analyzed and digested in assay grade Aqua Regia and finished by ICP-AES at ALS while over limit silver samples were re-analyzed using a 30g aliquot by fire assay with a gravimetric finish at AAL.

Figure Line 12: Star Point IP Resistivity Inversion showing Section and Plan (500-800m depth slice)

To view an enhanced version of Figure Line 12, please visit:
https://orders.newsfilecorp.com/files/3941/68835_c1f72d99e4024847_001full.jpg

Figure Line 13: Star Point IP Resistivity Inversion showing Section and Plan (500-800m depth slice)

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Figure Line 3: Star South IP Resistivity Inversion showing Section and Plan (500-800m depth slice)

To view an enhanced version of Figure Line 3, please visit:
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Figure Line 11: Star South IP Resistivity Inversion showing Section and Plan (500-800m depth slice)

To view an enhanced version of Figure Line 11, please visit:
https://orders.newsfilecorp.com/files/3941/68835_c1f72d99e4024847_004full.jpg

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

About Getchell Gold Corp.

The Company is a Nevada focused gold and copper exploration company trading on the (CSE: GTCH). 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. Complementing Getchell's asset portfolio is Dixie Comstock, a past gold producer with a historic resource and two earlier stage exploration projects, Star Point and Hot Springs Peak. Getchell has the option to acquire 100% of the Fondaway Canyon and Dixie Comstock properties, Churchill County, Nevada.

The Company reiterates that its near-term strategy to advance its assets is not impacted by the COVID-19 Corona virus. The Company continues to monitor the situation and is in compliance with all government guidelines.

For further information please visit the Company's website at www.getchellgold.com or contact the Company at info@getchellgold.com.

Mr. William Wagener, Chairman & CEO
Getchell Gold Corp.
+1 303 517 8764
info@getchellgold.com

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