Newrange Gold Commences Drilling in Gold Box Canyon Area of Pamlico Project

(TheNewswire)

Newrange Gold Corp. (” Newrange ” or the ” Company “) is pleased to report that drilling has commenced in the Gold Box Canyon area of the Pamlico Project, Nevada. As announced September 21, 2020, drill hole P20-65 confirmed the presence of important gold mineralization (0.535 grams gold per metric tonne (gt Au) over 4.6 meters and 0.113 gt Au over 22.9 meters) 600 meters east of the Merritt Zone in the Gold Box Canyon area of the property (see map ). This mineralization is hosted in the same suite of volcanic rocks known to host the majority of gold mineralization in this part of the district

In Gold Box Canyon, 61 of 85 historic surface rock chip samples contained more than 0.1 g/t Au and ranged from 0.1 g/t Au to more than 16.0 g/t Au. Analysis of these samples identify a highly anomalous zone more than 190 meters wide and 480 meters long that corresponds with the outcrop pattern of the favored host horizon in Gold Box Canyon. Three other historic rock samples collected on trend, but outside of the principal zone in Gold Box Canyon, contain reported values of 9,560, 30,579 and 670,758 ppb Au (9.56, 30.58 and 670.76 g/t Au, respectively) and indicate potential to expand the strike length of the zone to more than 1,500 meters beneath shallow volcaniclastic cover.

Preliminary underground mapping and sampling by the Company in Gold Box Canyon identified numerous mineralized structures in multiple historic mine workings. Sixty-seven chip-channel samples collected by the company ranged from 0.4 to 2.4 meters in length and all contained highly anomalous gold ranging from 0.048 to 16.9 g/t Au with a numerical average of 2.464 g/t Au. The number and distribution of underground samples in this area is currently not sufficient to estimate average grades or extent of mineralization.

The geology of Gold Box Canyon is very similar to mineralized areas observed along Pamlico Ridge where the highly fractured and brecciated contact between latite lithic tuff and overlying rhyolite hosts the majority of the mineralization and the highest grades. However, unlike Pamlico Ridge where the capping rhyolite has been deeply dissected and removed by erosion into isolated remnants, in Gold Box Canyon the Rhyolite “cap” is generally well preserved beyond the Canyon walls and, by inference, the preferred host horizon is thought to be more intact, potentially with better continuity. The Canyon itself provides an erosional “window” where the overlying volcanic rocks have been removed, exposing outcrops of mineralization in this contact horizon. The entire southern and eastern rim of Gold Box Canyon is formed by the rhyolites, with outcropping mineralization dipping along the contact with underlying latite tuffs.

The ridge between Gold Box Canyon and Pamlico Ridge is capped by a younger volcaniclastic unit, overlying and, obscuring the rhyolite – latite contact. Nevertheless, extensive outcrops of latite lithic tuff containing zones of highly anomalous gold mineralization in this area indicate strong exploration potential may also exist between Gold Box Canyon and Pamlico Ridge, a horizontal distance of more than 900 meters.

Gold mineralization in this area appears to be associated with a large, northwest trending, mid-amplitude IP anomaly that occurs at or near the surface along Pamlico Ridge and dips gently to the east and northeast beneath Gold Box Canyon for approximately 1,800 meters where it is interpreted to merge into a large, intense IP anomaly originally identified on Line 5 of the Company’s 2019 IP Survey, in the vicinity of the Central and Sunset mines. Together the entire interpreted extent of the open-ended IP anomaly is more than 1.2 by 3.3 kilometers and is currently limited only by the extent of the Company’s survey. The mid-amplitude chargeability anomaly is interpreted to represent remnant and disseminated sulfides within the deeply oxidized Pamlico system along the brecciated latite – rhyolite contact zone, while the intense Line 5 anomaly is interpreted to contain greater concentrations of metallic sulfide minerals which may also contain gold and/or silver.

Management is of the opinion that Gold Box Canyon represents significant upside to the exploration potential at Pamlico and is developing plans to further evaluate this important area. To that end, seven holes are planned to test potential dilatant structures in the Canyon bottom, and additional holes to test mineralization extending beneath the rhyolite / latite contact zone.

Key Highlights

• – Underground sampling and initial drill test of IP anomaly confirms important levels of gold mineralization in Gold Box Canyon.

  – Extends receptive host horizon more than 990 meters to east from Pamlico Ridge with an interpreted strike length in excess of 1,200 meters.

  – Indicates the extensive “mid-amplitude” chargeability anomaly is related to large, intense “Line 5” IP anomaly.

Quality Assurance/Quality Control

Mr. Robert G. Carrington, P. Geo, a Qualified Person as defined by National Instrument 43-101, the President and Chairman of the Company, has reviewed, verified and approved for disclosure the technical information contained in this news release. Samples collected by the Company for assay were securely delivered to American Assay in Sparks, Nevada for preparation and analysis. Samples were dried then stage crushed to 80% passing 10 mesh. A 1,000 gram sub-sample was then split out and pulverized to 140 mesh from which 50 gram samples were split for analysis by fire assay with atomic absorption finish. All samples assaying more than 10 g/t Au are checked and re-assayed using fire assay (FA) with a gravimetric finish. In addition to the QA – QC conducted by the laboratory, the Company inserts blanks, standards and certified reference material (CRM) at a rate of 1 in 20.

About Pamlico

Located 12 miles southeast of Hawthorne, Nevada, along US Highway 95, the project enjoys excellent access and infrastructure, a mild, year-round operating climate and strong political support from Mineral County, one of the most pro-mining counties in the pro-mining state of Nevada. The Pamlico project covers the historic Pamlico group of mines, as well as the nearby Good Hope, Gold Bar and Sunset mines.

Discovered in 1884, the district rapidly gained a reputation as being one of Nevada’s highest-grade districts. Held by private interests for most of its history, the property remains underexplored in terms of modern exploration.

About Newrange Gold Corp.

Newrange is a precious metals exploration and development company focused on near to intermediate term production opportunities in favorable jurisdictions including Nevada, Ontario and Colorado. With numerous drill intercepts of near surface oxide gold mineralization to 340 grams gold per metric tonne, the Company’s flagship Pamlico Project is poised to become a significant new Nevada discovery. Focused on developing shareholder value through exploration and development of key projects, the Company is committed to building sustainable value for all stakeholders. Further information can be found on our website at www.newrangegold.com .

Signed: “Robert Archer”

CEO & Director

For further information contact :

Sharon Fleming Dave Cross

Corporate Communications Chief Financial Officer and Corporate Secretary

Phone: 760-898-9129 Phone: 604-669-0868
Email: info@newrangegold.com Email: dcross@crossdavis.com

Website: www.newrangegold.com

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release .

Forward-Looking Statement:

Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Newrange Gold Corp. Actual results may differ materially from those currently anticipated in such statements.

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