Getchell Gold Corp. Provides an Update on the Exploration Programs Proceeding at the Star Point Copper-Silver-Gold and Fondaway Canyon Gold Projects, Nevada

Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) (“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 Point Copper-Gold-Silver Project in Pershing County, Nevada, has been completed ahead of schedule. The IP survey was conducted over two high grade occurrences; at the historical Star Point copper mine and at the copper-gold-silver Star South artisanal mining site, for the purpose of refining previously identified geophysical anomalies for drill targeting.

Key Highlights

Star Point Cu-Au-Ag Project

• High grade mineralization observed at surface at Star Point and Star South;
• Historic Star Point Copper Mine returned samples grading 4.25, 3.00 and 2.35% Cu*;
• Star South artisanal mining dumps returned high proportion of well mineralized samples with one sample grading 2.45% Cu, 9.26 g/t Au and 310.0 g/t Ag*;
• Previous geophysical surveys identified sizeable anomalies underlying surface showings; and,
• Multiple line IP survey with objective to refine drill targets at Star Point and Star South has recently completed.

Fondaway Canyon Gold Project

• Four of six drill holes have been completed on the 2,000m drill program at the Company’s advanced stage Fondaway Canyon Gold project.

“There are indications of a significant mineralizing system underlying the Star Point project and the potential of this early stage project highly complements the Company’s advanced stage Fondaway Canyon gold project situated just to the south,” states Mike Sieb, President, Getchell Gold.

Star Point Project

The Star Point Copper-Gold-Silver property (“Star 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 is currently in progress.

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 south (Figure 2).

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 was 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.

In 2018, a comprehensive magnetic geophysical survey and a limited, one-line, induced polarization (“IP”) survey was conducted over the Star Point area. The geophysical surveys showed that the surface mineralized expression at Star Point is underlain by coincident magnetic high, chargeability high and resistivity low anomalies that are interpreted as potential copper sulfide mineralization, possibly intrusion related, and signifies a compelling drill target.

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 300m x 150m 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 (Table 1).

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.

Table 1: Star South notable sampling results sorted by metal weighting:

In 2018, a comprehensive magnetic geophysical survey and a limited, one-line, IP survey was conducted over the Star South area. The 2018 IP survey reported the presence of a strong conductor coincident with a NE-SW trending magnetic low. The geophysical signature is interpreted as a potentially mineralized structure along the thrust fault boundary with the high grade historic artisanal workings representing the mineralized expression at surface.

2020 IP Survey at Star Point and Star South

The field component of the 2020 IP survey at both the Star Point and Star South target areas has been completed with a total of 22.5 kms along five lines surveyed. The processing, interpretation and reporting is anticipated to take 2-3 weeks to complete. The objective is to refine the geophysical anomalies previously identified at both Star Point and Star South in preparation for a drill program planned for the first half of 2021.

Fondaway Canyon Drill Program Update

The 2,000 metre drill program at Fondaway Canyon as announced on September 8, 2020, is proceeding with four of the planned 6 holes completed. Drill core samples from the first two holes are in the analytical lab for cutting and assaying. The Company anticipates receiving the first set of results in 4 to 5 weeks. Additional core shipments are scheduled weekly through the conclusion of the drill program, which is expected to be completed by the end of October.

* 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 analysed 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-analysed and digested in assay grade Aqua Regia and finished by ICP-AES at ALS while over limit silver samples were re-analysed using a 30g aliquot by fire assay with a gravimetric finish at AAL.

Figure 1: Select 2011 high grade grab samples at Star South

To view an enhanced version of Figure 1, please visit:
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Figure 2: Star Point project area showing 2011 rock grab sample copper results, 2018 and 2020 IP survey lines and 2018 magnetic survey 1^st vertical derivative.

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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) 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. 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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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 private placement and the completion thereof and 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, including: the receipt of all necessary regulatory approvals, use of proceeds from the financing, capital expenditures and other costs, and financing and additional capital requirements. 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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