Gold

  • Snowline's initial drill campaign on the recently discovered Valley zone intersected the targeted sheeted vein arrays with visible gold in all four holes.
  • Hole V-21-002 averaged 1.01 g/t Au over 136.75 m from 35.25 m downhole, within a broader mineralized zone averaging 0.85 g/t Au over 186 m.
  • Assays to follow for 3 of 4 holes at Valley, all of which intersected similar mineralization to V-21-002.
  • A diamond drill is currently on-site at Valley, ready to advance target in Spring 2022.

Snowline Gold Corp. (CSE:SGD)(OTCQB:SNWGF) (the "Company" or "Snowline") is pleased to announce initial drill results from Phase I drilling at the Valley zone on its Rogue gold project in the Yukon Territory, Canada. Hole V-21-002 intersected a broad zone of gold mineralization associated with visible gold in sheeted vein arrays. The hole averaged 1.01 gt Au over 136.75 m from 35.25 m downhole, within a broader zone of mineralization averaging 0.85 gt Au over 186.0 m from 31.5 m downhole. These results mark the in-situ discovery of a potentially significant gold system and demonstrate the fertility of the bulk-tonnage Valley gold target

Drillhole ID

Coordinates (NAD83 Zn9)

Orientation (True)

Interval* (metres)

Grade (Au g/t)

Easting

Northing

Azimuth

Dip

From

To

Width*

V-21-002

385917

7057833

175

-70

31.5

217.5

186.00

0.85

including

35.3

172.0

136.75

1.01

including

36.8

38.9

2.10

3.49

including

50.0

50.7

0.65

9.67

including

119.0

119.8

0.80

5.48

Table 1 - Hole details and notable intervals in V-21-002. Localized hot spots of up to 9.67 g/t Au over 0.65 m were present in the mineralized interval, but overall grades are otherwise relatively consistent. *Interval widths reported; at this point there is insufficient data to reliably estimate true widths of the zone.

"This is Snowline's second significant drill discovery in as many drill programs in 2021," commented Scott Berdahl, CEO and director of Snowline. "We launched the company around the idea of an unrecognized gold district hiding in a relatively unexplored package of prospective rocks here in the Yukon's Selwyn Basin. Beyond our excitement for the Valley discovery itself, we are similarly excited at the implications these results have toward validating our district-scale exploration thesis. With two discoveries in hand and many additional prospective targets, we are eager to get started on our 2022 exploration season."

Drill hole V-21-002 totalled 242 m in length and averaged 0.69 g/t Au over 239 m (excluding the top 3 m of overburden which was not assayed). The hole ended in elevated to anomalous gold mineralization, with the final 6.5 m of drilling averaging 0.25 g/t Au, including 1.01 g/t
Au over 0.5 m from 235.5 m.

Figure 1 - Gold assay results (yellow) for V-21-002 plotted against lithologies for holes V-21-001 & V-21-002. Both holes crossed large zones of hornfels associated with the emplacement of the Valley stock, with intense silicification often obscuring original lithologies.

"These results and related geochemical metal associations with bismuth and tellurium conclusively characterize Valley as a classic reduced intrusion-related gold system," commented Snowline chair and director Dr. Craig Hart, an internationally recognized expert on this deposit type. "It has lots of similarities to Kinross' Ft. Knox Gold Mine in Alaska and Victoria Gold's Eagle Gold Mine in the Yukon, and most importantly these early results yield some very good grades. These systems are well understood, and these early Valley drill holes are in just one shoulder of the system - so there is still lots of room to follow-up."

V-21-002 was collared in hornfels Ordovician siltstones of the Road River group on the edge of a newly-discovered Cretaceous-aged felsic intrusion belonging to the fertile Mayo plutonic suite. It was drilled obliquely towards the intrusion and encountered alternating zones of sediments and intrusive rocks, interpreted as dikes along the edges of the Valley stock.

Gold is thought to be carried primarily in arrays of subparallel ("sheeted"), low-sulphide quartz veins present throughout the core, with the total volume of quartz in each sample acting as a control on grade. Trace amounts of visible gold was observed in sixteen veins along the hole, commonly associated with bismuthinite.

Valley is a discovery-stage bulk-tonnage prospect with no estimated resources nor reserves. It is still too early-stage to determine the size of the mineralized system nor whether it will prove to be economically viable.


Figure 2 - Drill hole locations at Valley atop soil, rock and magnetic surveying results. Anomalous gold in soils defines a WNW-ESE trend some 900 m in length, roughly parallel to sheeted quartz veins that span the edge of the Valley intrusion. Certain rock samples >5 g/t Au are labeled with pink haloes. High-resolution magnetic data captured by drone surveying shows a pronounced magnetic low (blue) over the centre of the intrusion, and a magnetic high (pink) owing to hornfels alteration. Holes V-21-001 & 002 targeted local structures in a hornfels roof/shoulder pendant in addition to sheeted vein arrays, whereas holes V-21-003 and 004 were drilled to target the sheeted vein arrays themselves.

Figure 3 - Valley zone location map in relation to surrounding Snowline Gold Corp. projects. Valley is the westernmost in an east-west line of 3 small intrusive bodies, each of which appears to have potential to host an intrusion-related gold deposit.

FORTHCOMING RESULTS

Samples for V-21-002 were processed by the lab before the first Valley drill hole, V-21-001. Assays from V-21-001 are further delayed by 4 overlimit triggers (assays >10 g/t Au) across a total, non-contiguous core length of 1.9 m. As with V-21-002, all three remaining holes at Valley intersected trace amounts of visible gold in drill core along with extensive zones of sheeted quartz veins. Full results from these holes are expected in the coming weeks.

UPCOMING EXPLORATION

With over $8.6M CDN in the treasury, Snowline is actively preparing for a busy 2022 exploration season. The upcoming program will see at least two drills turning on an 8,000+ m program focused on the Company's Jupiter and Valley discoveries along with nearby targets. This work continues to build toward establishing North America's newest gold district in the Yukon's Selwyn Basin.

The Company currently has a drill under contract and on site at Valley, overwintering for a quick and cost-effective resumption of drilling in Spring 2022. Given the scale of the associated geochemical anomaly, the extent of sheeted veins observed on surface and the potential for higher vein densities within the intrusion, a program of grid drilling is planned at Valley to establish the scale and continuity of the mineralized zone.

QA/QC AND QUALIFIED PERSON

On receipt from the drill site, drill core from V-21-002 was systematically logged for geological attributes, photographed and sampled at Snowline's 2021 field camp. Smaller sample lengths were used to isolate zones of interest, otherwise a default 1.5 m downhole sample length was used. Core was cut in half lengthwise, with one half collected for analysis and one half stored as a record. Standard reference materials, blanks and duplicate samples were inserted by Snowline personnel at regular intervals into the sample stream. Bagged samples were sealed with security tags to ensure integrity during transport. They were delivered by expeditor and by Snowline personnel to ALS Laboratories' preparatory facility in Whitehorse, Yukon, with analysis completed in Vancouver.

ALS is accredited to ISO 17025:2005 UKAS ref 4028 for its laboratory analysis. Samples were crushed by ALS to >70% passing below 2 mm and split using a riffle splitter. 250 g splits were pulverized to >85% passing below 75 microns. An aqua regia digest with an inductively coupled plasma mass spectroscopy (ICP-MS) finish was used for 51-element analysis on 50 g samples (ALS code: Au-ME-TL44). All samples were re-analysed for gold content by fire assay with an inductively coupled plasma atomic emission spectroscopy (ICP-AES) finish on 30 g samples (ALS code: Au-ICP21).

Samples with visible gold and other samples returning >5 g/t Au will undergo further processing, analysing the screen rejects to determine whether the screening process could introduce a sampling bias in current results by excluding coarse gold from analysis.

Information in this release has been prepared and approved by Scott Berdahl, P. Geo., Chief Executive Officer of Snowline and a Qualified Person for the purposes of National Instrument 43-101.

ABOUT Snowline Gold Corp.

Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seven-project portfolio covering >100,000 ha. The Company is exploring its flagship 72,000 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. Snowline's first-mover land position provides a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

ON BEHALF OF THE BOARD

Scott Berdahl, MSc, MBA, PGeo
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 reviewing its newly acquired project portfolio to maximize value, reviewing options for its non-core assets, including targeted exploration and joint venture arrangements, conducting follow-up prospecting and mapping this summer 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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Snowline Gold Further Strengthens Its Management Team

Snowline Gold Further Strengthens Its Management Team

  • Sergio Gamonal, most recently Chile Exploration Manager for Barrick, joins as Snowline's Lead Geologist
  • Stephanie Hansen, marketing specialist, joins as Snowline's Marketing and Investor Relations Manager

Snowline Gold Corp. (CSE:SGD)(OTCQB:SNWGF) (the "Company" or "Snowline") is pleased to announce updates to the Company's management team, with the recent appointments of Sergio Gamonal as Lead Geologist and Stephanie Hansen as Marketing and Investor Relations Manager

Sergio Gamonal brings over 15 years' exploration experience to the Company, having held senior roles at major mining companies Barrick and Kinross. Most recently, he served as country Exploration Manager for Argentina and then Chile with Barrick Gold, where he led the development of a robust pipeline of early to advanced stage gold targets throughout the Andes. Prior to this, he spent over 10 years with Kinross in the roles of Senior Specialized Geologist and Exploration Geologist, integrating geological and geochemical datasets with assessment and exploratory fieldwork at project sites in Russia, Africa, and South America. Mr. Gamonal holds an M.Sc. in Geology from the Mineral Deposit Research Unit at the University of British Columbia.

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Snowline Gold Locates 5.1 km Long Trend of Anomalous Gold-In-Soils Grading to 1.7 g/t AU at Gracie, Rogue Project, Yukon

Snowline Gold Locates 5.1 km Long Trend of Anomalous Gold-In-Soils Grading to 1.7 g/t AU at Gracie, Rogue Project, Yukon

  • 5.1 km zone of anomalous gold values found in soil and talus fine samples at Gracie
  • 43 soil samples from a 1,600 x 800 m central area average 0.49 g/t Au, with 8 samples >1 g/t Au
  • Zone underlain and adjacent to probable unexposed intrusion only 4 km from Snowline's 2021 "Valley" discovery
  • Intact carapace at top of intrusion presents high priority drill target for 2022.

Snowline Gold Corp. (CSE:SGD)(OTCQB:SNWGF) (the "Company" or "Snowline") is pleased to provide an update on generative exploration results from its Rogue project in the Yukon Territory, Canada. Geochemical assay results received from late season 2021 contour soil and talus fine sampling reveal a large zone of anomalous gold values to 1.71 gt Au on top of and around a probable, near-surface, gold-bearing intrusion at the Company's Gracie target

Figure 1 - Soil, talus fine and rock geochemical results from Snowline's Rogue project on top of ZTEM electromagnetic survey results. Surface sampling performed late in the 2021 field season demonstrates the scale of gold anomalism associated with a probable buried intrusion, with values of up to 1.71 g/t Au from talus fines at Gracie. Dashed blue ovals indicate zones of anomalous results. Samples from the central zone have an average of 0.49 g/t. North and south zones of anomalous gold values are along stratigraphic and structural trend with the unexposed intrusion. The Valley intrusion and suspected Gracie intrusion are expressed in in the ZTEM image as cooler colours representing relative electrical resistors, consistent with other known intrusions in the survey area.

"These results add to strong evidence that Gracie could host a large and fertile reduced-intrusion related gold system," said Scott Berdahl, CEO and director of Snowline. "What excites us about this-beyond the potential to duplicate our Valley discovery-is that the intrusion at Gracie hasn't been exposed by erosion. These gold systems can be most prospective at the very top of an intrusion, where initial cooling of the edges creates a brittle carapace that fractures to accommodate later gold bearing fluids. An intact carapace at Gracie thus makes for a compelling exploration target adjacent and complementary to the Company's 2021 Valley and Ridge discoveries."

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Snowline Gold Expands Valley Gold Mineralization to >2 km with Discovery of Ridge Zone on Its Rogue Project, Yukon

Snowline Gold Expands Valley Gold Mineralization to >2 km with Discovery of Ridge Zone on Its Rogue Project, Yukon

  • Snowline has discovered the "Ridge" zone, a 1.0 km stretch of anomalous gold in soils, talus fines and rock samples on the northeast shoulder of the Valley intrusion
  • Gold-bearing sheeted quartz veins within this new zone similar are to those hosting Snowline's 2021 Valley drill discoveries
  • Ridge zone significantly increases bulk-tonnage scale potential and further demonstrates fertility of the Valley intrusion.

Snowline Gold Corp. (CSE:SGD)(OTCQB:SNWGF) (the "Company" or "Snowline") is pleased to announce additional surface sampling results from its "Ridge" zone, immediately adjacent to its Valley discoveries on its Rogue gold project in the Yukon Territory, Canada. Contour soil and talus fine samples as well as rock grab samples reveal a 1.0 km zone of anomalous gold concentrations on the northeast edge of the Valley intrusion associated with sheeted quartz veins arrays. A continuous stretch of 18 contour soil and talus fine samples spanning 750 m within the zone averaged 0.21 ppm Au, with values up to 0.758 ppm Au. The zone is open in all directions

Figure 1 - Soil, talus fines, rock and magnetic results around the Valley intrusion delineates an open, 1.0 km zone of anomalous gold concentrations to 0.758 g/t Au in soils near sheeted quartz vein arrays. Background colours show detailed total magnetic field data, with pinks and purples denoting high field values and blues low.

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Snowline Gold Intersects 1.25 Grams per Tonne over 168.7 metres From Surface at Its Bulk-Tonnage Valley Discovery, Rogue Project, Yukon

Snowline Gold Intersects 1.25 Grams per Tonne over 168.7 metres From Surface at Its Bulk-Tonnage Valley Discovery, Rogue Project, Yukon

  • Hole V-21-003 returned 1.56 g/t Au over 125.0 m from surface, within a broader mineralized zone averaging 1.25 g/t Au over 168.7 m
  • Hole V-21-004 returned 0.90 g/t Au over 69.5 m from 65 m depth, within a broader mineralized zone averaging 0.77 g/t Au over 93.8 m
  • Length, width and depth of the discovery remain open, with drill on site to commence drilling Spring 2022.

Snowline Gold Corp. (CSE:SGD)(OTCQB:SNWGF) (the "Company" or "Snowline") is pleased to provide additional Phase I drill and exploration results from the Valley zone on its Rogue gold project in the Yukon Territory, Canada. As with the first two holes (released previously), holes V-21-003 and V-21-004 each intersected broad zones of high gold values associated with visible gold in sheeted vein arrays. V-21-003 averaged 1.56 gt Au over 125.0 m from surface, within a broader sheeted vein array zone 1.25 gt Au over 168.7 m, also from surface. Hole V-21-004, collared farther from the intrusion, also encountered strong gold grades in sheeted veins, running 0.90 gt Au over 69.5 m from 65.0 m depth

Drillhole ID

Table 1 - Hole details and highlight intervals in V-21-003 and V-21-004. Local "hot spots" of up to 16.2 g/t Au over 1.5 m are present within the mineralized intervals, but the broader intervals are carried largely by consistently anomalous gold values. *Interval widths reported; at this point there is insufficient data to reliably estimate true widths.

"These results build on what was already a remarkably successful first season for Snowline," said Scott Berdahl, CEO and director of Snowline Gold Corp. "V-21-003 and V-21-004 were drilled specifically to crosscut and better test the width of the sheeted vein arrays at Valley. Hole V-21-003 began in a mineralized interval, so that width remains open. That it intersected a higher total gold content than any other hole drilled by Snowline in 2021 is a promising sign both for the Valley target and the broader Rogue project. Hole V-21-004 also hit strong grades, demonstrating that the system is open along its length, which continues beyond the margins of the intrusion. We are eager to follow up on these results with a significant drill program at Valley in 2022."


Figure 1 - Cross section with gold assay results (yellow) for drill hole V-21-003 plotted alongside simplified lithologies. For the purposes of plotting, assay values for V-21-001 are capped at 10 g/t Au. (The highest assay ran 16.2 g/t Au over 1.5m.)

Drillhole ID

Interval* (metres)

Grade

(Au g/t)

Capped
@10 g/t Au

From

To

Width*

V-21-003

1.0

169.7

168.65

1.25

1.15

including

1.0

126.0

125.00

1.56

1.43

including

12.5

71.0

58.55

2.14

1.89

V-21-004

46.5

140.3

93.80

0.77

0.71

including

65.0

134.5

69.45

0.90

0.81

Table 2 - Highlight intervals capped at 10 g/t Au in V-21-003 and V-21-004. This capping reduces the effect of "smearing" of high-grade results across lower grade zones of the intervals, demonstrating a robust and relatively consistent signature to the mineralization. *Interval widths reported; at this point there is insufficient data to reliably estimate true widths.

Based on the geological setting, the style of mineralization and the geochemical and mineral associations observed in drill core, Valley is interpreted to be a reduced intrusion-related gold system (RIRGS). Elsewhere, RIRGS gold deposits are known to form important commercial gold resources, including Victoria Gold Corp.'s Eagle Mine in the Yukon and Kinross Gold Corporation's Fort Knox Mine in Alaska. Both deposits are hosted in intrusive rocks analogous to those at Valley.

Valley is currently a discovery-stage bulk-tonnage prospect with no estimated resources nor reserves. At this early stage it is not possible to determine the size of the mineralized system nor whether it will prove to be economically viable.

Figure 2 - Drill hole locations at Valley with soil and rock results on top of 2021 magnetic survey results. Anomalous gold-in-soils defines a WNW-ESE trend that is 900 m in length, roughly parallel to sheeted quartz vein arrays that span the edge of the Valley intrusion. Certain rock samples that yield >5 g/t Au have labels with pink haloes. High-resolution magnetic data captured by drone surveying shows a pronounced magnetic low (blue) over the centre of the intrusion, and a magnetic high (pink) from hornfels alteration. Holes V-21-001 & 002 targeted local structures in a hornfels roof/shoulder pendant in addition to sheeted vein arrays, whereas holes V-21-003 & 004 were drilled to target the sheeted vein arrays themselves.

Figure 3 - Sheeted vein arrays observed in drill holes V-21-003 (top) and V-21-004 (bottom). Subparallel, millimetre- to centimetre-scale quartz veins are present across wide zones in all four holes drilled at Valley in 2021. The density of veins increases towards the intrusion, as expected for this deposit model and as illustrated by the greater density in the silicified diorites(top) versus the hornfels siltstones (bottom). The first 1.5 m shown from 121 m to 122.5 m downhole in V-21-004 averaged 12.0 g/t Au. The system remains open in both directions along strike, and the width and depth of the sheeted vein arrays have yet to be established.

UPCOMING EXPLORATION

With over $8.5M CAD in the treasury, Snowline is actively preparing for a busy 2022 exploration season. The upcoming program will see at least two drills turning on an 8,000+ m program focused on the Company's Jupiter and Valley discoveries along with nearby targets. This work continues to build toward establishing North America's newest gold district in the Yukon's Selwyn Basin.

The Company currently has a diamond drill under contract and on site at Valley, overwintering for a quick and cost-effective resumption of drilling in Spring 2022. Given the scale of the associated geochemical anomaly, the extent of sheeted veins observed on surface and the potential for higher vein densities within the intrusion, a 3000+ m drill program is planned at Valley to better understand the scale and continuity of the mineralized zone.


Figure 6 - Valley zone location map in relation to surrounding Snowline Gold Corp. projects. Valley is the westernmost in an east-west line of 3 small intrusive bodies, each of which bears strong evidence for the presence of a reduced-intrusion related gold system.

QA/QC AND QUALIFIED PERSON

On receipt from the drill site, Valley's NQ-sized drill core was systematically logged for geological attributes, photographed and sampled at Snowline's 2021 field camp. Smaller sample lengths were used to isolate zones of interest, otherwise a default 1.5 m downhole sample length was used. Core was cut in half lengthwise, with one half collected for analysis and one half stored as a record. Standard reference materials, blanks and duplicate samples were inserted by Snowline personnel at regular intervals into the sample stream. Bagged samples were sealed with security tags to ensure integrity during transport. They were delivered by expeditor and by Snowline personnel to ALS Laboratories' preparatory facility in Whitehorse, Yukon, with analysis completed in Vancouver.

ALS is accredited to ISO 17025:2005 UKAS ref 4028 for its laboratory analysis. Samples were crushed by ALS to >70% passing below 2 mm and split using a riffle splitter. 250 g splits were pulverized to >85% passing below 75 microns. An aqua regia digest with an inductively coupled plasma mass spectroscopy (ICP-MS) finish was used for 51-element analysis on 50 g samples (ALS code: Au-ME-TL44). For V-21-003, as with previous Valley zone holes V-21-001 and 002, all samples were re-analysed for gold content by fire assay with an inductively coupled plasma atomic emission spectroscopy (ICP-AES) finish on 30 g samples (ALS code: Au-ICP21). For V-21-004, as a cost saving measure, any sample retuning less than 50 parts per billion gold was not reanalyzed by fire assay. At the time of writing, all such samples from V-21-004 have been resubmitted for fire assay to provide consistency in the dataset and because aqua regia appears to under-report gold concentrations by an average of 12% in holes V-21-001, 002 and 003 compared to the more rigorous fire assay analysis technique. Any sample returning >10 g/t Au was reanalysed by fire assay with a gravimetric finish on a 50 g sample (ALS code: Au-GRA22).

Samples with visible gold and other samples returning >5 g/t Au will undergo further processing, analysing the screen rejects to determine whether the screening process could introduce a sampling bias in current results by excluding coarse gold from analysis, resulting in an under-reporting of true grades.

Information in this release has been prepared and approved by Scott Berdahl, P. Geo., Chief Executive Officer of Snowline and a Qualified Person for the purposes of National Instrument 43-101.

ABOUT Snowline Gold Corp.

Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seven-project portfolio covering >100,000 ha. The Company is exploring its flagship 72,000 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. Snowline's first-mover land position provides a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

ON BEHALF OF THE BOARD

Scott Berdahl, MSc, MBA, PGeo
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 reviewing its newly acquired project portfolio to maximize value, reviewing options for its non-core assets, including targeted exploration and joint venture arrangements, conducting follow-up prospecting and mapping this summer 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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Snowline Gold Intersects 1.27 Grams Per Tonne Over 108.0 Metres In Second Hole Returned From Its Bulk-Tonnage Valley Discovery, Rogue Project, Yukon

Snowline Gold Intersects 1.27 Grams Per Tonne Over 108.0 Metres In Second Hole Returned From Its Bulk-Tonnage Valley Discovery, Rogue Project, Yukon

  • Hole V-21-001 averaged 1.27 g/t Au over 108 m from 19.5 m downhole, within a broader mineralized zone averaging 1.09 g/t Au over 135 m from 5 m downhole.
  • Entire 161 m hole averaged 0.95 g/t Au, ending in zone of gold mineralization.
  • Geochemical signature consistent with classic reduced intrusion related gold system.
  • Assays to follow for remaining 2 holes at Valley, both of which intersected similar mineralization to reported holes V-21-001 and V-21-002.

Snowline Gold Corp. (CSE:SGD) (OTCQB:SNWGF) (the "Company" or "Snowline") is pleased to provide additional initial drill results from Phase I drilling at the Valley zone on its Rogue gold project in the Yukon Territory, Canada. Hole V-21-001 intersected a broad zone of high gold values associated with visible gold in sheeted vein arrays. The hole averaged 1.27 gt Au (uncapped) over 108.0 m from 19.5 m downhole, within a broader zone of mineralization averaging 1.09 gt Au (uncapped) over 135.0 m from 5.0 m downhole. These results build on the recently announced assay results for Hole V-21-002 (1.01 gt Au over 136.8 m; reported January 25, 2022), demonstrating encouraging grade continuity in the mineralized system

Drillhole ID

Table 1 - Hole details and notable intervals in V-21-001. Localized hot spots of up to 22.6 g/t Au (over 0.4 m) were present in the mineralized interval, particularly in the top 45 m of the hole, but overall grades are otherwise relatively consistent. With grades capped at 10 g/t Au, the top two intervals return 1.00 g/t Au over 135 m and 1.17 g/t over 108.0 m. This capping reduces the effect of "smearing" of high-grade results across lower grade zones of the intervals.
*Interval widths reported; at this point there is insufficient data to reliably estimate true widths of the zone.

"This second set of drill results confirms the tenor of the Valley discovery," said Scott Berdahl, CEO and director of Snowline. "We are excited to see such consistent mineralization within and between our first two holes. This is a very strong start and gives us a lot to build on in the upcoming 2022 exploration season. Given the scale of the associated soil anomaly and the distribution of sheeted vein arrays we have seen on surface, there appears to be a lot of high potential ground to explore as we test the extents of this mineralized system. My congratulations again to the Snowline technical team on their second significant drill discovery in our first field season-this is a remarkable achievement."

Drill hole V-21-001 totalled 161 m in length and averaged 0.95 g/t Au over the full 160.5 m (excluding the top 0.5 m of overburden which was not assayed). The hole ended in elevated to anomalous gold mineralization, with the final 7.0 m of drilling averaging 0.34 g/t Au, including 1.65 g/t Au over 0.55 m from 159.0 m carrying trace visible gold.

Based on the geological setting, the style of mineralization observed and on geochemical and mineral associations observed in drill core, Valley is interpreted to be a reduced intrusion related gold system (RIRGS). Elsewhere, RIRGS gold deposits are known to form important commercial gold resources, including Victoria Gold Corp.'s Eagle Mine in the Yukon and Kinross Gold Corporation's Fort Knox Mine in Alaska. Both deposits are hosted in intrusive rocks thought to be associated with those at Valley.

Valley is currently a discovery-stage bulk-tonnage prospect with no estimated resources nor reserves. At this early stage it is not possible to determine the size of the mineralized system nor whether it will prove to be economically viable.

FORTHCOMING RESULTS

Assay results for V-21-003 and V-21-004 have yet to be received. Both remaining holes at Valley intersected trace amounts of visible gold in drill core along with extensive zones of sheeted quartz veins. Full results from these holes are expected in the coming weeks.

Figure 5 - Sheeted vein arrays observed in drill holes V-21-003 (left) and V-21-004 (right). Subparallel, millimetre- to centimetre-scale quartz veins similar to those observed in V-21-001 and V-21-002 are present across wide zones in all four holes drilled at Valley in 2021. The density of veins increases towards the intrusion, as expected for this deposit model and as illustrated by the greater density in the silicified diorites (left) versus the hornfelsed siltstones (right). Assays for these drill holes are pending.

UPCOMING EXPLORATION

With over $8.6M CDN in the treasury, Snowline is actively preparing for a busy 2022 exploration season. The upcoming program will see at least two drills turning on an 8,000+ m program focused on the Company's Jupiter and Valley discoveries along with nearby targets. This work continues to build toward establishing North America's newest gold district in the Yukon's Selwyn Basin.

The Company currently has a diamond drill under contract and on site at Valley, overwintering for a quick and cost-effective resumption of drilling in Spring 2022. Given the scale of the associated geochemical anomaly, the extent of sheeted veins observed on surface and the potential for higher vein densities within the intrusion, a 3000+ m drill program is planned at Valley to establish the scale and continuity of the mineralized zone.

Figure 6 - Valley zone location map in relation to surrounding Snowline Gold Corp. projects. Valley is the westernmost in an east-west line of 3 small intrusive bodies, each of which appears to have potential to host an intrusion-related gold deposit.

QA/QC AND QUALIFIED PERSON

On receipt from the drill site, drill core from V-21-001 was systematically logged for geological attributes, photographed and sampled at Snowline's 2021 field camp. Smaller sample lengths were used to isolate zones of interest, otherwise a default 1.5 m downhole sample length was used. Core was cut in half lengthwise, with one half collected for analysis and one half stored as a record. Standard reference materials, blanks and duplicate samples were inserted by Snowline personnel at regular intervals into the sample stream. Bagged samples were sealed with security tags to ensure integrity during transport. They were delivered by expeditor and by Snowline personnel to ALS Laboratories' preparatory facility in Whitehorse, Yukon, with analysis completed in Vancouver.

ALS is accredited to ISO 17025:2005 UKAS ref 4028 for its laboratory analysis. Samples were crushed by ALS to >70% passing below 2 mm and split using a riffle splitter. 250 g splits were pulverized to >85% passing below 75 microns. An aqua regia digest with an inductively coupled plasma mass spectroscopy (ICP-MS) finish was used for 51-element analysis on 50 g samples (ALS code: Au-ME-TL44). All samples were re-analysed for gold content by fire assay with an inductively coupled plasma atomic emission spectroscopy (ICP-AES) finish on 30 g samples (ALS code: Au-ICP21). Any sample returning >10 g/t Au was reanalysed by fire assay with a gravimetric finish on a 50 g sample (ALS code: Au-GRA22).

Samples with visible gold and other samples returning >5 g/t Au will undergo further processing, analysing the screen rejects to determine whether the screening process could introduce a sampling bias in current results by excluding coarse gold from analysis.

Information in this release has been prepared and approved by Scott Berdahl, P. Geo., Chief Executive Officer of Snowline and a Qualified Person for the purposes of National Instrument 43-101.

ABOUT Snowline Gold Corp.

Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seven-project portfolio covering >100,000 ha. The Company is exploring its flagship 72,000 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. Snowline's first-mover land position provides a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

ON BEHALF OF THE BOARD

Scott Berdahl, MSc, MBA, PGeo
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 reviewing its newly acquired project portfolio to maximize value, reviewing options for its non-core assets, including targeted exploration and joint venture arrangements, conducting follow-up prospecting and mapping this summer 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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