The drilling is part of a small winter program in the northern part of the Company’s Yellowknife City Gold Project with 19 holes completed to date totaling 6011 metres. Ten (10) holes have intersected visible gold (VG) in a sheared vertical structure currently extended over a minimum strike length of 400 metres.  Assays are pending for all the remaining 14 holes. The Company’s 2022 primary drilling program remains focused on testing the continuity of the mineralized zones within the Campbell shear south of the former Con Mine with the objective of adding high-grade ounces to the current 1.2 Moz inferred resources (see March 31, 2021 Technical Report). Following closure of the winter program, the company is continuing its drilling on the Campbell shear structure south of the former Con Mine which produced 6.1 Moz (1938-2003).

Chairman and CEO, Gerald Panneton, commented, “While our focus is drilling along the Campbell Shear south of the Con Mine and delineating the high-grade Yellorex Zone, we continue to receive positive results in the Mispickel area located approximately 20 kilometres north of Yellowknife. The drill results from this winter drilling program along the new MP-Ryan zone indicate that the zone remains open in all directions.  The Mispickel area is of great importance as it has the potential to serve as a high-grade satellite deposit to the main area of focus along the Campbell Shear south of the Con Mine.”

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