Snowline Gold Further Expands Mineralized Footprint of Valley Zone and Mobilizes Third Drill to Its Rogue Project, Yukon

Snowline Gold Further Expands Mineralized Footprint of Valley Zone and Mobilizes Third Drill to Its Rogue Project, Yukon

  • Sheeted vein mineralization observed across 700 m by 800 m area at Valley, with mineralization open in all directions and wider step-outs planned
  • Central corridor of high vein density up to 300 m wide, 600 m long (open) and 430 m deep (open) encountered in holes V-22-005, 007, 010, 012, 014 and 015
  • V-22-015 in system for entire 554 m length, with broad zones of high vein density
  • All assay results and latest drill core evaluations pending, drilling ongoing.

SNOWLINE GOLD CORP. (CSE:SGD) (OTCQB:SNWGF) (the "Company" or "Snowline") is pleased to announce that it has encountered gold bearing quartz vein mineralization in multiple large step-out holes at its Rogue project's Valley Zone in Canada's Yukon Territory (Figure 1). Characteristic sheeted veins are present at various intensities across the roughly 800 m width of the intrusion and extending into the surrounding hornfelsed rocks, and along 700 m of strike length tested to date. Of note is a corridor of high vein densities (commonly >15 veinsm) up to 300 m wide intersected across 600 m of strike length and open along strike, with robust mineralization intersected at 430 m below surface and open to further depth

Snowline Gold Corp., Wednesday, August 3, 2022, Press release picture

Figure 1 - Drilling progress at the Valley Zone, showing quartz vein densities in drill core. Veins range in thickness from several mm to 30 cm true width. Vein densities are considered by the Company a general indicator of gold potential, though other factors can influence grade within and between holes. Assays remain pending for all holes drilled in 2022. A potential southeastern extension of the Valley intrusion is suspected based on aerial magnetic data collected in 2021 and 2022.

"We are very encouraged by the scale of the mineralized system we are seeing at Valley," said Scott Berdahl, CEO & Director of Snowline. "Each successful step-out across hundreds of metres adds significantly to the bulk-tonnage potential of the target, and mineralization is present from surface to the bottoms of the deepest holes we've drilled to date-to 554 m downhole corresponding to 430 m below surface. Of course, we won't know the true significance of the discovery until we have drill core assays back. Lab estimates now point to mid-August for return of our first holes of the 2022 exploration season."

Snowline Gold Corp., Wednesday, August 3, 2022, Press release picture

Figure 2 - Schematic cross section across the ~800m width of the Valley intrusion showing quartz vein densities and occurrences of trace visible gold. The mineralized vein sets strike roughly perpendicular to this section (into and out of the page). The highest vein densities and thickest quartz veins are consistent across multiple holes within a central corridor, which remains open along strike and to depth. Vein densities in V-22-013, the least mineralized in terms of overall quartz veining, commonly exceed 5 veins/m. The location of the cross section is shown on Figures 1 and 3, with the view looking northwest.

CENTRAL MINERALIZED CORRIDOR

High quartz vein densities previously reported in holes V-22-005 and V-22-007 appear to form part of a well-mineralized corridor cutting NW-SE through the Valley intrusion. Drilling to date suggests a true width to this zone of up to 300 m where tested. The length of the system is open, and runs roughly 600 m from V-22-005 in the NW to V-22-012 in the southeast. Similarly, mineralization remains open at depth; holes V-22-014 and V-22-015 intersect the zone at surface and to as deep as 430 m below surface, respectively, with moderate to high vein densities continuing to depth (Figure 2). Hole V-22-010 tested the eastern boundary of the corridor, with 120 instances of trace, sub-millimeter scale visible gold observed along the length of the 404 m hole during logging and after cutting (Figure 3).

Snowline Gold Corp., Wednesday, August 3, 2022, Press release picture

Figure 3 - Instances of trace visible gold encountered in drilling at Valley. Gold grains are sub-millimeter in scale, often between 10 and 100 microns (0.01 to 0.1 mm) in size, and commonly found in association with bismuthinite and tellurium minerals. While the presence of visible gold demonstrates the presence of gold and is thus an encouraging sign, in such systems its presence does not correlate perfectly with gold grades. It is also somewhat subjective, as the ultimate count can depend on the attention to detail of one core logging geologist versus another.

Snowline Gold Corp., Wednesday, August 3, 2022, Press release picture

Figure 4 - Quartz vein mineralization in V-21-015, from 396 to 428 m downhole. The hole is mineralized to varying degrees along its entire 554 m length. From approximately 364 m to 502 m downhole it intersects at depth the same zone of abundant quartz veins encountered in both V-22-007 and V-22-014, with densities commonly above 15 veins/m and locally exceeding 30 veins/m, with individual veins up to 20 cm true thickness. Multiple crosscutting quartz vein generations are present, and trace instances of fine-grained visible gold were observed at points along the length of the hole (Figure 2).

BROADER VALLEY INTRUSION

Holes V-22-013 and V-22-017 continue to build out the overall extent of known mineralization within the Valley intrusion, complementing the low to moderate densities of sheeted vein arrays seen in V-22-006 and in the bottom of V-22-008, and demonstrating the (open) length of the system across roughly 700 m to date. Vein densities in these holes are generally comparable and locally in excess to those encountered in 2021 drilling near the northwest edge of the intrusion, where intercepts of up to 1.25 g/t Au over 168.7 m were encountered. The 2021 holes crosscut both hornfelsed metasedimentary rocks and intrusive rocks. It remains to be seen whether similar vein densities in different host rock types (e.g. entirely in the intrusion) can be expected to carry similar grades within this system.

The local width of the intrusion along the section including V-22-007 and V-22-015 is roughly 800 m, with low to locally moderate (5-15 veins/m) densities of quartz veins continuing into the surrounding hornfelsed metasedimentary rocks. To the southeast, recently collected airborne magnetic data suggests the potential presence of a continuation of the Valley intrusion, or alternatively a smaller secondary stock hidden beneath cover.

In total, roughly 5,200 m of drilling has been completed at Valley in 2022 across 14 holes. Drill holes V-22-009 and V-22-016 were abandoned due to thick downslope talus cover, and steepened to reach bedrock (becoming holes V-22-011 and V-22-017).

Assays for all holes drilled to date in 2022 are pending, and drilling of additional holes at Valley is ongoing. The Company finds these visual results to be encouraging, and it cautions that the significance of the observations reported herein will not be known until assays are received and reviewed. Vein densities are a primary factor in determining grade, but other factors including typical vein thickness, individual vein grades (including presence of visible gold), host rock type and relative location within the hydrothermal fluid system can influence overall gold grade. Valley is an early-stage exploration project without a resource estimate, and the presence or absence of an economically viable orebody cannot be determined until significant additional work is completed.

THREE DRILLS NOW ACTIVE

A third helicopter-portable drill has mobilized to the Valley Zone. The drills and the geological team are working in tandem to continue building out the scale of known mineralization at Valley.

One drill is slated to move to the Gracie Zone, some 4 km east of Valley, where an intrusion thought to be related to Valley is present below surface. Aerial magnetic work and mapping have identified multiple structural corridors, including a sheeted join/vein array in hornfels sediment that parallels a dominant mineralization orientation at the Valley Zone. This Phase I program will be the first-ever drill testing of the Gracie Zone.

Snowline Gold Corp., Wednesday, August 3, 2022, Press release picture

Figure 5 - Location of V-22-007 and V-22-012 in the context of the broader Valley-Gracie trend. Surface geochemistry and geophysics (Z-axis Tipper Electromagnetic Survey) data suggest the presence of a potentially similar reduced intrusion related gold system at Gracie. Snowline plans to initiate Phase I drilling at Gracie in August.

ABOUT ROGUE

The geological setting and style of mineralization at Rogue's Valley Zone indicate the presence of a bulk tonnage gold target, with similarities to Kinross's Fort Knox Mine in Alaska and Victoria Gold's Eagle Mine in the Yukon. An 800 m Phase I drill program conducted at Valley in September 2021 encountered broad zones of gold mineralization in all four holes drilled (see Snowline news release dated February 10, 2022). Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays along the margins of a mid-Cretaceous aged Mayo-series intrusion.

Snowline Gold Corp., Wednesday, August 3, 2022, Press release picture

Figure 6 - Project location map for Snowline Gold's eastern Selwyn Basin properties. The Valley and Gracie Zones on the Rogue are the sites of current and planned drilling.

ABOUT Snowline Gold Corp.

Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seven-project portfolio covering >127,000 ha. The Company is exploring its flagship >85,000 ha Einarson and Rogue gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline's project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross' Fort Knox mine, Newmont's Coffee deposit, and Victoria Gold's Eagle Mine. The Company's first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

QUALIFIED PERSON

Information in this release has been prepared under supervision of and approved by Thomas K. Branson, M.Sc., P. Geo., Exploration Manager for Snowline and a Qualified Person for the purposes of National Instrument 43-101.

ON BEHALF OF THE BOARD

Scott Berdahl
CEO & Director

For further information, please contact:
Snowline Gold Corp.
+1 778 650 5485
info@snowlinegold.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including statements about the Company's upcoming drill program, implied significance of visual inspection of drill core, outcomes of mineral tenure ownership resolution, and surface work and plans for exploring and expanding a new greenfield, district-scale gold system. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Such factors include, among other things: risks related to uncertainties inherent in drill results and the estimation of mineral resources; and risks associated with executing the Company's plans and intentions. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

SOURCE:Snowline Gold Corp.



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Effective at the opening, Tuesday October 29, 2024, the common shares of Lode Gold Resources Inc. will commence trading on the TSX Venture Exchange on a consolidated basis. The Company is classified as a mining company.

Name of Company: No change.
Escrow shares: None
Transfer agent: Odyssey Trust Company.
Trading symbol: LOD (unchanged)
CUSIP number: 540196 20 1 (new)

"The Company has been contemplating share consolidation for sometime. With significant milestones achieved in the last 12 months and more upcoming catalysts, it makes strategic sense now to execute the consolidation. A key catalyst upcoming in a few months is share distribution of Gold Orogen to shareholders of Lode Gold, a significant step in unlocking value.

With a tight capital structure we can more effectively attract new investors. Of note, four shareholders hold over 60% shares of 38 million post-consolidated shares." states Wendy T. Chan, CEO and Director of Lode Gold.

About Lode Gold

Lode Gold (TSXV: LOD) is an exploration and development company with projects in highly prospective and safe mining jurisdictions in Canada and the United States.

Its Golden Culvert and WIN Projects in Yukon, covering 99.5 km2 across a 27-km strike length, are situated in a district-scale, high-grade-gold-mineralized trend within the southern portion of the Tombstone Gold Belt. Gold deposits and occurrences within the Belt include Fort Knox, Pogo, Brewery Creek and Dublin Gulch, and Snowline Gold. A NI 43-101 technical report entitled "Technical Report on the WIN-Golden Culvert Property for Lode Gold" with an effective date of May 15, 2024, summarizing the work to date on these properties is available on the Company's profile on SEDAR+ (www.sedarplus.ca) and on the Company's website (www.lode-gold.com).

In New Brunswick, Lode Gold has created one of the largest land packages with a 42km strike within 420km2. Its McIntyre Brook Project, New Brunswick, covering 111 km2 and a 17-km strike length in the emerging Appalachian/Iapetus Gold Belt, is surrounded by Puma Exploration's Williams Brook Project (5.55 g/t Au over 50m)1 and is hosted by orogenic rocks of similar age and structure as New Found Gold's Queensway Project. The Fancamp's Riley Brook is a 309 km2 package covering a 25 km strike of Wapske formation with its numerous felsic units. Previous exploration efforts have focused on just VMS-style mineralization hosted in the felsic intrusions, and mostly focused on the base metals - the Company is the first to focus on and assay for gold. This transaction will close upon Exchange's acceptance.

The Company is also advancing its Fremont Gold development project in the historic Mother Lode Gold Belt of California where 50,000,000 oz of gold has been produced. Fremont, located 500km north of Equinox Gold's Castle Mountain and Mesquite mines, has a Preliminary Economic Assessment(" PEA") with an after-tax NPV (5%) of USD $217M, a 21% IRR, 11-year LOM, averaging 118,000 Oz per annum at USD $1,750 gold. A sensitivity to the March 31, 2023, PEA at USD $2,000/oz gold gives an after-tax NPV (5%) of USD $370M and a 31% IRR over an 11-year LOM. The project hosts an NI 43-101 resource of 1.16 MOz at 1.90 g/t Au within 19.0 MT Indicated and 2.02 MOz at 2.22 g/t Au within 28.3 MT Inferred. The MRE evaluates only 1.4 km of the 4 km strike length of the Fremont property which features five gold-mineralized zones. Significantly, three step-out holes at depth hit the mineralized structure, typical of orogenic deposits that often occur at depth. Fremont is located on 3,351 acres of 100% owned private land in Mariposa, the original Gold Rush County, and is 1.5 hours from Fresno, California. The property has year-round road access and is close to airports and rail.

Please refer to the Fremont Gold project NI 43-101 PEA technical report dated March 31, 2023, which is available on the Company's profile on SEDAR+ (www.sedarplus.ca) and on the Company's website (www.lode-gold.com). The PEA technical report has been reviewed and approved by independent "Qualified Persons" Eugene Puritch, P.Eng., FEC, CET, and Andrew Bradfield, P.Eng. both of P&E, and Travis Manning, P.E. of KCA.

QUALIFIED PERSON STATEMENT

The scientific and technical information contained in this press release has been reviewed and approved by Jonathan Victor Hill, Director, BSc (Hons) (Economic Geology - UCT), FAusIMM, and who is a "qualified person" as defined by NI-43-101.

ON BEHALF OF THE COMPANY

Wendy T. Chan, CEO & Director

Information Contact

Winfield Ding
CFO
info@lode-gold.com
+1-416-320-4388

Kevin Shum
Investor Relations
kevin@lode-gold.com
+1 (647) 725-3888 ext. 702

Cautionary Note Related to this News Release and Figures

This news release contains information about adjacent properties on which the Company has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company's properties.

Cautionary Statement Regarding Forward-Looking Information

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.

All statements, trend analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding the anticipated use of proceeds from the Special Warrant financing, additional proceeds from the exercise of the warrants underlying the Special Warrants, and the receipt of final acceptance from the TSX Venture Exchange with respect to the transactions, are forward-looking statements. Although Lode Gold believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since Lode Gold can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in Lode Gold's periodic filings with Canadian securities regulators, and assumptions made with regard to: the ability of Lode Gold to obtain final acceptance from the TSX Venture Exchange with respect to the transactions; that the Company will be able to use the proceeds of the Special Warrant financing as anticipated; and the ability of the Company to continue with its stated business objectives and its ability to obtain required approvals and raise additional capital to proceed. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from expectations include risks associated with the business of Lode Gold and Fancamp; risks related to the Company's ability to obtain final acceptance from the TSX Venture Exchange with respect to the transactions; the risk that the use of proceeds from the Special Warrant financing may differ from management's expectations; and other risk factors as detailed from time to time and additional risks identified in the Companies' filings with Canadian securities regulators on SEDAR+ in Canada (available at www.sedarplus.ca). Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.

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