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White Gold Corp. Extends Discovery Hole to 22.5 g/t Gold and 154.0 g/t Silver over 30.5m, Trenches 66.39 g/t Gold and 302 g/t Silver over 5m, including 109.9 g/t Gold and 486.4 g/t Silver over 3m Confirming Zone Continuity on Vertigo, JP Ross

White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W) (the “Company) is pleased to announce additional Reverse Circulation (“RC”) drill results and trenching results from the Vertigo target on the JP Ross property, Yukon, Canada. These results included a significant extension of the discovery Reverse-Air-Blast (“RAB”) drill hole which extended the mineralization at depth and encountered a deeper zone of high-grade gold. The trenching performed further defined the mineralization at Vertigo and will allow the previously identified gold zones to be extrapolated to additional drill targets.

Maps to accompany this news release can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.

Highlights Include:

  • JPRVERRC18-013 returned 18.59 g/t Au and 188.8 g/t Ag over 6.10m from 24.38m depth, including 59.5 g/t Au and 439 g/t Ag over 1.52m from 27.43m depth. The hole also encountered an additional zone of mineralization at 44.2m depth, returning 6.82 g/t Au over 4.57m, including 18.5 g/t Au over 1.52m from 44.2m depth. Drilled as a continuation of previously announced RAB hole JPRVERRAB18-0014, the overall intercept is 22.47 g/t Au over 30.46m from surface with individual samples ranging from 2.00 to 60.4 g/t Au and trace to 388 g/t Ag.
  • 3 trenches completed, each encountering significant mineralization, including trench JPRVERTR18-002 which returned results of 66.39 g/t Au and 302 g/t Ag over 5m, including 109.93 g/t Au and 486.4 g/t Ag over 3m.   
  • Trenching has identified a continuous body of high-grade mineralization that has been traced over 55m strike length which extends to a minimum of 30m depth based on drill testing conducted. This structure is one of at least 12 mineralized structures identified on the Vertigo target to date within a 1,500m x 650m target area.
  • Additional drilling, prospecting and soil sampling has also been conducted along the 14km structural trend that hosts the Vertigo discovery with the goal of identifying similar high-grade gold mineralization. Results for this exploration work will be released in due course.

“Spectacularly high-grade gold values are consistently being obtained from the Vertigo Trend and these trench results confirm our model of strong structural control. We have successfully defined the trend and dip of the gold-bearing zones only a few months after initial discovery. These results provide further understanding of the Vertigo and show that the mineralization is more extensive than previously understood.” stated Rob Carpenter, Director of the Company. “The trenching has given us key insights into the direction and orientation of the high-grade mineralization which we have leveraged to complete prospecting work outside of the main target area and we look forward to presenting these results in due course. Our 2019 program will aim to extend the geometry of these shallow gold zones with our ultimate goal being to illustrate the continuity of grade and trend. The scale and footprint of the Vertigo zones and alteration haloes suggest the system may represent the most robust gold system discovered to date in the White Gold District.”

Extension of Discovery Drill Hole
Discovery hole JPRVERRAB18-014 intersected 23.44 g/t Au and 144.75 g/t Ag over 24.38m from surface, ending in mineralization and was extended with an RC drill to 79.25m. JPRVERRC18-013 (Az: 180, Dip: -60, Depth: 24.38 – 71.63) was drilled as the continuation of previously announced RAB hole JPRVERRAB18-014. The hole returned 6.10m of 18.59 g/t Au and 188.80 g/t Ag from 24.38m depth; including 59.5 g/t Au and 439.00 Ag over 1.52m from 27.43m depth. Combined with JPRVERRAB-014 the overall intercept is 22.47 g/t Au and 154.00 g/t Ag over 30.46m from surface with individual 1.52m samples ranging from 2.00 – 60.4 g/t Au.

Additionally, there is a second zone of mineralization within JPRVERRC18-013, returning 6.82 g/t Au and 6.80 g/t Ag over 4.57m from 44.20m depth; including 18.5 g/t Au and 12.90 g/t Ag over 1.52m from 44.20m depth. A summary table of holes RAB14/RC13 is presented below:

Hole IDFrom(m)To(m)Interval(m)Au(g/t)Ag(g/t)
Combined RAB14/RC130.0030.4630.4622.47154.00
JPRVERRAB18-014*0.0024.3824.3823.44 144.75
 Including0.003.053.0559.30 304.00
 And12.1915.243.0539.40 196.00
 And19.8124.384.5726.10 243.00
JPRVERRC18-01324.3830.466.1018.59188.80
Including27.4328.961.5259.50439.00
And44.2048.774.576.82 6.80
Including44.2045.721.5218.5012.90

Interpretation of the results is ongoing and there is not currently enough information to estimate true thickness of the mineralized zones.

Trenching Results
A program consisting of 3 trenches covering 63m was conducted on the Vertigo to follow up on near surface, high-grade gold mineralization intersected in previously reported RAB (JPRVERRAB18-014) and RC (JPRVERRC18-006) drill holes. All the trenches were excavated to bedrock using a low impact, heliportable, excavator. Bedrock depths ranged from approximately 1 – 1.5m depth, and continuous 1m channel samples were collected from bedrock at the bottom of the trenches. Individual assays for trench samples ranged from trace to 157.7 g/t Au and from trace to 718 g/t Ag. Highlights are summarized below:

Trench IDFrom (m)To (m)Interval (m)Au (g/t)
JPRVERTR18-0011.008.007.0016.94
Incl.2.007.005.0023.29
Incl.6.007.001.0058.70
JPRVERTR18-0024.009.005.0066.39
Incl.5.008.003.00109.93
And20.0021.001.0050.50
JPRVERTR18-00315.0023.008.0020.79
Incl.18.0023.005.0032.28
And27.0029.002.007.05

Mineralization within the trenches consists of a series of lode style quartz veins, up to 1m thick, with disseminated to massive arsenopyrite-galena-pyrite and, locally, visible gold. These occur within a broader zone of brecciation and strong sericite alteration over 5-7m thickness and form a continuous body of high-grade mineralization that has been traced over 55m strike length and to minimum of 30m depth in RAB/RC drilling conducted in the area. Additional, subparallel zones of fracture -controlled mineralization, quartz veining, and/or brecciation extend up to 30m beyond the “high-grade core.” Overall, the mineralization is interpreted to occur along a NW striking, steeply south dipping structural zone that is open along both strike and dip. This structure is one of at least 12 mineralized structures identified on the Vertigo to date within a 1,500m x 650m WNW trending area and additional trenching and follow up diamond drilling will be conducted across all known target structures in 2019.

JPRVERTR18-001:
JPRVERTR18-001 is located 5m west of JPRVERRAB18-014 and its continuation RC18-013, and is oriented to the south. The trench was 12m in length and returned 16.94 g/t Au and 67.9 g/t Ag over 7m from 1m down the trench; including 23.29 g/t Au and 113.7 g/t Ag from 2m down the trench.

JPRVERTR18-002:
JPRVERTR18-002 is located 6m east of Trench 1 and oriented to the south. The trench was 22m in length and returned 66.39 g/t Au and 302 g/t Ag over 5m from 4m down the trench; including a 3m core of 109.93 g/t Au and 486.4 g/t Ag from 5m down the trench. An additional zone of mineralization was also intersected 11m south of the upper intercept and returned 50.5 g/t Au and 80.6 g/t Ag over 1m from 20m down the trench.

JPRVERTR18-003:
JPRVERTR18-003 is located approximately 40m to the southeast of JPRVERTR18-003 and oriented to the south. The trench was 29m in length and returned 20.79 g/t Au and 107.1 g/t Ag over 8m from 15m down the trench; including 32.28 g/t Au and 157 g/t Ag over 5m from 18m down the trench. An additional zone of mineralization was also intersected 9m south of the upper intercept returning 7.05 g/t Au and 48.9 g/t Ag over 2m from 27m down the trench.

Vertigo Target – JP Ross Property
The Vertigo Target is on the JP Ross property which is comprised of 2,850 quartz claims covering over 57,000 hectares with at least 14 known target areas and numerous placer gold bearing creeks.  Previously announced drill results on the Vertigo target range from trace to 56.25 g/t Au over 3.05m within a broader intercept of 17.34 g/t Au over 10.67m from 3.05m depth (JPRVERRAB18-001); 45.00 g/t Au over 3.05m from 1.52m depth, within a broader intercept of 9.65 g/t Au over 15.24m (JPRVERRAB18-011); and 23.44 g/t Au over 24.37m (JPRVERRAB18-014). Additional exploration in the area also encountered multiple high-grade grab samples including 139.9 g/t, 135.6 g/t and 132.9g/t Au defining a strike length of approximately 1.5km on the Vertigo target along a 12km mineralized trend. The Vertigo Target is located approximately 25km north of the Company’s flagship White Gold property and is within 2km of an existing road accessible from Dawson City. Recently staked and acquired claims adjacent to the property are situated within a prolific placer mining camp where coarse placer gold is common.

To date, at least 12 mineralized structures are recognized on the Vertigo target over a 1,500m x 650m area, and consist of W-NW trending, steeply dipping zones of quartz veining, brecciation, and fracture-controlled mineralization with disseminated to vein-controlled pyrite-arsenopyrite-galena and, locally, visible gold mineralization. Drill testing to date has validated the mineralization over 500m of strike length which is open along strike and at depth.

About White Gold Corp.
The Company owns a portfolio of 21,218 quartz claims across 34 properties covering over 423,000 hectares representing over 40% of the Yukon’s White Gold District. The Company’s flagship White Gold property has a mineral resource of 960,970 ounces Indicated at 2.43 g/t gold and 282,490 ounces Inferred at 1.70 g/t gold as set forth in the technical report entitled “Independent Technical Report for the White Gold Project, Dawson Range, Yukon, Canada”, dated March 5, 2018, filed under the Company’s profile on SEDAR. Mineralization on the Golden Saddle and Arc is also known to extend beyond the limits of the current resource estimate. Regional exploration work has also produced several other prospective targets on the Company’s claim packages which border sizable gold discoveries including the Coffee project owned by Goldcorp Inc. with a M&I gold resource(1) of 4.1M oz and Western Copper and Gold Corporation’s Casino project which has P&P gold reserves(1) of 8.9M oz Au and 4.5B lb Cu. For more information visit www.whitegoldcorp.ca.

(1)           Noted mineralization is as disclosed by the owner of each property respectively and is not necessarily indicative of the mineralization hosted on the Company’s property.

QA/QC
The analytical work for the 2018 program has been performed by Bureau Veritas Commodities Canada Ltd., an internationally recognized analytical services provider, at its Vancouver, British Columbia laboratory.  Sample preparation was carried out at its Whitehorse, Yukon facility. All GT Probe, RAB, RC, and diamond core samples were prepared using procedure PRP70-250 (crush, split and pulverize 250 g to 200 mesh) and analyzed by method FA430 (30g fire assay with AAS finish) and AQ200 (0.5g, aqua regia digestion and ICP-MS analysis). Samples containing >10g/t Au were reanalyzed using method FA530 (30g Fire Assay with gravimetric finish). Metallic-screen analysis may also be utilized if coarse gold mineralization is encounter (FS600).

The work was completed using industry standard procedures, including a quality assurance/quality control (QA/QC) program consisting of the regular insertion of certified standards and blanks into the sample stream. The qualified person detected no significant QA/QC issues during review of the data.

Qualified Person
Jodie Gibson, P.Geo. and Vice President of Exploration for the Company is a “qualified person” as defined under National Instrument 43-101 (“NI 43-101”) and has reviewed and approved the content of this news release.

Cautionary Note Regarding Forward Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “proposed”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the anticipated benefits to the Company and its shareholders respecting the Company’s objectives, goals and exploration activities conducted and proposed to be conducted at the White Gold and other properties; future growth potential of the Company, including whether any further mineral resources will be established in accordance with NI 43-101 at any of the Company’s properties; exploration results; and future exploration plans.

These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: the expected benefits to the Company relating to the exploration conducted and proposed to be conducted at the White Gold and other properties; failure to expand or identify any additional mineral resources; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the White Gold properties and the Company’s other properties; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mineral exploration and mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; and those factors described under the heading “Risks and Uncertainties” in the Company’s most recently filed management’s discussion and analysis. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

Neither the TSX Venture Exchange (the “Exchange”) nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contact Information:
David D’Onofrio
Chief Executive Officer
White Gold Corp.
(416) 643-3880
ir@whitegoldcorp.ca

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MGX Minerals Announces Winter Drilling Program to Target High-Grade Gold Mineralization at Depth at Fran Gold Project

MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG / OTCQB: MGXMF) is pleased to announce that drilling will recommence shortly at its 100% owned Fran Gold Property (“Fran” or the “Property”) located 30km southwest of the Mount Milligan Gold-Copper Mine. Initial Winter 2018 drilling will drill a twin vertical hole to confirm and test below historic drill hole FR-027 from 2002. Hole FR-027 was drilled in the Hilltop Zone. Historic drill hole FR-027 assayed 13 meters of 3.76 g/t Au from 153.00m – 166.00m including 5.10 meters of 12.89 g/t Au and 18.70 g/t Au over 1.0 meter. Significant intercepts are shown in the table below (MacIntyre 2013):

HoleFromToLengthAu ppm
FR-02-02745.4546.000.551.75
FR-02-02746.0048.002.002.49
FR-02-027147.00149.002.001.03
FR-02-027149.00151.002.003.47
FR-02-027153.00155.002.001.02
FR-02-027155.00157.002.002.74
FR-02-027157.00159.002.001.82
FR-02-027159.00160.901.901.74
FR-02-027160.90163.002.1015.90
FR-02-027163.00165.002.006.83
FR-02-027165.00166.001.0018.70

This data is historic in nature and based on drilling results reported by previous operators. The Company believes this information, reports, data and assays are reliable and relevant. This information has been reviewed by an independent Qualified Person Dr. D.G. MacIntyre (P.Eng)  on behalf of the Company.

Fall 2018 Drilling
Drill hole FR18-95 returned a broad intercept from 227.0 to 241.0 meters of gold mineralization at depth at the Main Zone within the Bullion Alley Gold Area. This has confirmed the extension of gold mineralization in auriferous veins from near surface to depth. The highest-grade gold mineralization was contained within a quartz-pyrite vein which averaged 21 g/t Au over 2.2m including 35.9 g/t Au across 0.76m and 26.70 g/t Au over 0.75m (see press release dated December 3, 2018). Drill data from the Fall 2018 drill program is currently being reviewed and correlated with the existing database of 87 previous drill holes. A drill has been mobilized and Winter 2018 drilling is set to commence within days.

Fran Gold Project
The Fran Property encompasses 10,227 hectares and is located 30km southwest of the Mount Milligan Gold-Copper Mine and 19km by logging road from the Mount Milligan western access road. The Bullion Alley Zone has been the subject of extensive shallow exploration starting in the late 1990’s. Significant gold mineralization associated with shear zones has been intersected by historic diamond drilling. A total of 15,575 meters of diamond drilling was completed in 87 drill holes at the Bullion Alley Zone prior to 2018. Previous drilling identified three areas along the northwest trending 1.5km strike with up to three lateral zones in addition to proximate gold zones such as the Hilltop Zone.  No significant drilling at depth has occurred on the property.

Quality Assurance / Quality Control
Sample chain of custody is managed by site geologist Myles Dickson (P.Geo). Drill core is stored and split at a secure storage facility in Fort St. James, BC. and shipped to ACT Labs Minerals (“ACT”) for assay using 1A2-ICP Kamloops Au-Fire Assay and 1E3-Kamloops Aqua Regia ICP(AQUAGEO). Blanks and standards are used for data verification purposes. ACT is an independent, ISO-certified analytical laboratory located in Kamloops, British Columbia.

Qualified Person
Andris Kikauka (P. Geo.), Vice President of Exploration for MGX Minerals, has prepared, reviewed and approved the scientific and technical information in this press release. Mr. Kikauka is a non-independent Qualified Person within the meaning of National Instrument 43-101 Standards.

About MGX Minerals
MGX Minerals is a diversified Canadian resource and technology company with interests in global advanced material, energy and water assets.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements
This press release contains forward-looking information or forward-looking statements (collectively “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “potentially” and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors. The reader is referred to the Company’s public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the Company’s profile on SEDAR at www.sedar.com.

Contact Information
Jared Lazerson
President and CEO
Telephone: 1.604.681.7735
Web: www.mgxminerals.com
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MGX Minerals Reports High Grade Gold Mineralization at Depth at Fran Gold Project, British Columbia; Drilling to Re-Commence

MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG / OTCQB: MGXMF) is pleased to announce a discovery at the Fran Gold Property (“Fran” or the “Property”) in British Columbia, 30 kilometers southwest of the Mount Milligan Gold-Copper mine. Drill hole FR18-95 has returned a broad intercept from 227.0 to 241.0 meters of gold mineralization at depth in the Bullion Alley Gold Zone. This has confirmed extension of gold mineralization in auriferous veins from near surface to depth. The highest-grade gold mineralization was contained within a quartz-pyrite vein which averaged 21 g/t Au over 2.2m including 35.9 g/t Au across 0.76m and 26.70 g/t Au over 0.75m. The hole was drilled at an inclination of 55 degrees and depth of 314m. Drill data from the Fall 2018 drill program is currently being reviewed and correlated with the existing database of 87 previous drill holes.

The Company has re-mobilized a drill to the property. The access road has now been cleared of snow and the drill rig will arrive at the property shortly with drilling to re-commence this week. The Winter 2018 drill program will further test the Main Zone at depth and along strike to the East, as well as test under explored zones with high grade historical results proximate to the Main Zone.

Table 1. Fran Zone 2 Hole FR18-5 Assay Results
* Weighted Average

FromToLength (m)Au (g/t)Cu (ppm)Ag (ppm)Zn (ppm)
143.09143.560.470.504460.567
204.00205.351.35*W.A.5.7815213.6303
incl204.00204.520.524.2514905.0518
incl204.52205.350.836.7415402.7169
225.98235.509.52*W.A.0.887391.660
incl227.00227.750.754.2125509.498
incl227.75228.340.591.0520002.958
incl229.24230.150.913.056991.630
235.50237.732.23*W.A.23.3152211.4222
incl235.50236.220.726.410804.471
incl236.22236.980.7635.9267017.9248
incl236.98237.730.7526.778411.6342
239.00241.002.000.65180< 0.230
269.00280.7211.72*W.A.0.562940.235
incl276.70278.001.301.086870.541
incl278.00279.351.352.215260.740
284.13284.880.751.426631.926
284.88285.640.761.394801.229
288.00289.001.000.3649< 0.221
308.15309.000.850.328610.840

Discussion of Hole FR18-95
FR18-95 was collared and oriented perpendicular to strike of previously tested steeply-dipping mineralized structures. The hole location is situated in between historic drill holes 75 and 81/62, and successfully intercepted the 50-70 meter down-dip extensions of mineralized Zone 3, Zone 2, and Zone 1.

The mineralized interval for Zone 3 was intercepted from 204.00 to 205.35 meters, showing high-grade gold mineralization observed as a 135cm quartz-pyrite vein enveloped and cross-cut by black-chlorite alteration assaying 4.25 g/t over 0.52m and 6.74 g/t gold over 0.83m. The up-dip mineralization of this zone is also high-grade. This intercept shows that this zone is still open at depth.

Zone 2 was extended at depth with a broad zone of mineralization from 227.00 to 241.00m ranging from anomalous to very high-grade. The highest grade of gold mineralization was contained within a quartz-pyrite vein which returned 35.9 g/t Au across 0.76m with proximal high-grade mineralization associated with moderate pyrite content and strong black chlorite alteration above the vein at 6.35 g/ton over 0.72m and below the vein at 26.70 g/t Au over 0.75m. Additional high-grade intersections within this zone are association with strong black chlorite alteration and moderate pyrite mineralization. This broad intercept shows that this zone is open at depth with the potential for wide and high-grade mineralization down-dip.

Zone 1 was also intercepted at depth from 275.50 to 279.35 meters and features gold mineralization associated with black chlorite alteration and moderate sulphide content. The highest-grade mineralization was 2.21 g/t Au over 1.35m. This zone extension at depth shows that this zone is still open at depth and has comparable grade to up-dip intersections of mineralization.

Tables 2, 3 and 4: DDH 2018-95 within Zones 3, 2, and 1.

Zone 3
HoleFromToLengthAu g/ton
FR18-95204.00204.520.524.25
FR18-95204.52205.350.836.74

 

Zone 2
HoleFromToLengthAu g/ton
FR18-95227.00227.750.754.21
FR18-95227.75228.340.591.05
FR18-95229.24230.150.913.05
FR18-95233.00234.731.730.57
FR18-95235.50236.220.726.35
FR18-95236.22236.980.7635.9
FR18-95236.98237.730.7526.7
FR18-95239.00241.002.000.65

 

Zone 1
HoleFromToLengthAu g/ton
FR18-95275.50276.701.200.44
FR18-95276.70278.001.301.08
FR18-95278.00279.351.352.21

Fran Gold Project
With the exception of short hole reconnaissance drilling at Fran East in 2017, the Fran Property has been dormant since 2011. The property encompasses 10,227 hectares and is located 30km southwest of the Mount Milligan Gold-Copper Mine and 19km by logging road from the Mount Milligan western access road. The Bullion Alley Zone has been the subject of extensive shallow exploration starting in the late 1990’s. Significant gold mineralization associated with shear zones has been intersected by historic diamond drilling. A total of 15,575 metres of diamond drilling was completed in 87 drill holes at the Bullion Alley Zone prior to 2018. Previous drilling identified three areas along the northwest trending 1.5km strike with up to three lateral zones. This drilling encountered numerous gold intercepts with variable Ag, Cu, Pb, and Zn. Previous work presumed the auriferous veins pinched out at depth (MacIntyre 2013, MINFILE 093 108).

The recently discovered gold mineralization at depth suggests an alternative model must now be considered, and that gold mineralization extends and remains open.  No significant drilling below 150m occurred prior to 2018.

“At MGX we have always taken risks others were not willing to take. Previous operators did not test the Bullion Alley strike at depth, but drilling deeper than ever before at Fran appears to have returned initial favorable results. Although early in this new exploration, MGX has immediately found continuity along strike and within the main gold zones 1, 2 and 3.  We have now opened the Fran Property up to a re-examination,” stated MGX Chief Executive Officer Jared Lazerson. 

Quality Assurance / Quality Control
The sample chain of custody was managed by site geologist Myles Dickson (P.Geo). Drill core was stored and split at a secure storage facility in Fort St. James, BC. and shipped to ACT Labs Minerals (“ACT”) for assay using 1A2-ICP Kamloops Au-Fire Assay and 1E3-Kamloops Aqua Regia ICP(AQUAGEO). Blanks and standards were used for data verification purposes. ACT is an independent, ISO-certified analytical laboratory located in Kamloops, British Columbia.

Qualified Person
Andris Kikauka (P. Geo.), Vice President of Exploration for MGX Minerals, has prepared, reviewed and approved the scientific and technical information in this press release. Mr. Kikauka is a non-independent Qualified Person within the meaning of National Instrument 43-101 Standards.

About MGX Minerals
MGX Minerals is a diversified Canadian resource and technology company with interests in global advanced material, energy and water assets.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements
This press release contains forward-looking information or forward-looking statements (collectively “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “potentially” and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors. The reader is referred to the Company’s public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the Company’s profile on SEDAR at www.sedar.com.

Contact Information

Jared Lazerson
President and CEO
Telephone: 1.604.681.7735
Web: www.mgxminerals.com
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New High-Grade Gold Zones in the Southwest Marathon Deposit: 17.39 g/t Au over 5.0 m, 19.63 g/t Au over 3.0 m & 4.90 g/t Au over 13.0 m, Valentine Lake Gold Camp, Newfoundland

New Drilling Results:

  • Drill holes into the southwestern end of the Marathon Deposit intersected new zones of high-grade gold in areas of previous minimal drilling (Figure 1):
    • MA-18-343 intersected 17.39 g/t Au over 5.0 meters with 42.76 g/t Au over 2.0 meters
    • MA-18-341 intersected 19.63 g/t Au over 3.0 meters with 56.04 g/t Au over 1.0 meters
    • MA-18-337 intersected 4.90 g/t Au over 13.0 meters with 24.49 g/t Au over 3.0 meters
    • MA-18-336 intersected 4.96 g/t Au over 9.0 meters with 18.21 g/t Au over 2.0 meters
  • Marathon Gold Corporation (“Marathon” or the “Company”) (TSX: MOZ) is excited by our continued success in predicting and intersecting high-grade gold mineralization at open-pit depths in the southwestern part of the Marathon Deposit (Figure 1). Drill holes MA-18-336 to MA-18-339, MA-18-341, MA-18-343 and extended drill hole MA-17-216 all succeeded in intersecting significant intervals of good gold grades as we continue to further define the main mineralized corridor in this southwestern part of the Marathon Deposit; focusing on widening the shallow open pit resources and decreasing strip ratio.
  • Dec 3rd, 2018 Drill Map

  • “We are pleased to be announcing these encouraging drilling results from the later stages of our 2018 drilling program”, said Phillip Walford, President and CEO of Marathon Gold. “We continue to intersect high-grade gold over wide intervals at open-pit depths which will be added to a resource update for the Pre-Feasibility Study. 2018 has been a very productive year at Valentine Lake. We have added 844,000 ounces of M&I and 519,000 ounces Inferred of gold to the total overall resources this year through some very challenging gold markets. As this year comes to a close, we look forward to a better gold market in 2019 as we continue to grow the largest gold deposit in Atlantic Canada.”

    TABLE 1: Significant assay intervals, Marathon Deposit, Valentine Lake Gold Camp.
    DDHSectionFromToCore Length (m)True Thickness (m)Gold g/tGold g/t (cut)*
    MA-18-3361671015816797.74.96
    including16416621.718.21
    2172301311.12.38
    including22722921.76.36
    24124432.61.50
    26727032.61.38
    27627932.63.12
    MA-18-33716720252832.92.27
    13413843.81.29
    18819132.93.18
     1932061312.44.904.77
    including20020221.924.4923.61
    MA-18-33816680121532.66.54
     11111654.32.32
    MA-18-3391675010010332.94.13
     11011332.92.20
     12412732.94.86
    MA-18-34116940364043.01.71
     677032.319.6315.95
    including686910.856.0445.00
    MA-18-34316780404332.91.00
     939632.91.44
     10110432.91.46
     17117432.91.31
     21321854.817.3910.45
    including21321521.942.7625.42
    MA-17-216 Ext16920252264129.62.28
    including25826021.67.63
    30630932.46.59
    48448732.42.98
    * No significant intervals in MA-18-340, 342, FA analysis cut to 45.0 g/t Au

    A figure accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/65a60ae5-6fc3-4a8e-80e0-8ea32e121a37

    Acknowledgments

    Marathon acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.

    Quality Assurance-Quality Control (“QA/QC”)

    Sherry Dunsworth, M.Sc., P. Geo., Senior VP of Exploration, Marathon’s Qualified Person, has reviewed the contents for accuracy and has approved this press release on behalf of Marathon. Thorough QA/QC protocols are followed including the insertion of blanks and standards at regular intervals in each sample batch. Drill core is cut in half with one half retained at site, the other half tagged and sent to Eastern Analytical Limited in Springdale, Newfoundland. All reported core samples are analyzed for Au by fire assay (30g) with AA finish. All samples above 0.10 g/t Au in economically interesting intervals are further assayed using metallic screen to mitigate the presence of coarse gold. Significant mineralized intervals are reported in Table 1 as core lengths and estimated true thickness (75-95% of core length).

    About Marathon

    Marathon is a Toronto based gold exploration company rapidly advancing its 100% owned Valentine Lake Gold Camp located in Newfoundland, one of the top mining jurisdictions in the world. The Valentine Lake Gold Camp currently hosts four near-surface, mainly pit-shell constrained, deposits with measured and indicated resources totaling 2,691,400 oz. of gold at 1.85 g/t and inferred resources totaling 1,531,600 oz. of gold at 1.77 g/t. The majority of the resources occur in the Marathon and Leprechaun deposits, which also have resources below the pit shell.  Both deposits are open to depth and on strike.  Gold mineralization has been traced down over 350 meters vertically at Leprechaun and almost a kilometer at Marathon. The four deposits outlined to date occur over a 20-kilometer system of gold bearing veins, with much of the 24,000-hectare property having had little detailed exploration activity to date.

    The Valentine Lake Gold Camp is accessible by year-round road and is located in close proximity to Newfoundland’s electrical grid. Marathon maintains a 50-person all-season camp at the property. Recent metallurgical tests have demonstrated 93% to 98% recoveries via conventional milling and 50% to 70% recoveries via low cost heap leaching at both the Leprechaun and Marathon Deposits.

    To find out more information on the Valentine Lake Gold Camp please visit www.marathon-gold.com.

    For more information, please contact:
    Christopher HaldanePhillip Walford
    Investor Relations ManagerPresident and Chief Executive Officer
    Tel: 1-416-987-0714Tel:  1-416-987-0711
    E-mail: chaldane@marathon-gold.comE-mail:  pwalford@marathon-gold.com

    CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
    Except for statements of historical fact relating to Marathon Gold Corporation, certain information contained herein constitutes “forward-looking statements”. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as “expects”, “anticipates”, “plans”, “believes”, “considers”, “intends”, “targets”, or negative versions thereof and other similar expressions, or future or conditional verbs such as “may”, “will”, “should”, “would” and “could”. We provide forward-looking statements for the purpose of conveying information about our current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes.  By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in Marathon Gold Corporation’s public filings, which may be accessed at www.sedar.com.  Other than as specifically required by law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events, results or otherwise.

     

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Cartier Resources Update: The New 6N1 Discovery – Drill to Kill Approach

Investors know that junior exploration companies are risky; what they often don’t know is that many juniors are not risky enough.

Finding gold ounces is a matter of knowing the geology of the area you are looking in and sticking close to existing or past producing mines, or as the old adage has it “exploring in the shadow of a headframe”. In the Abitibi gold belt, literally looking under old mines is a very good bet.

With it’s November 27 Press Release Cartier Resources (V.ECR) introduces a “gamechanger” for its flagship Chimo Mine project.  The press release reports results from two, deep, holes in what the company calls its 6N1 target. The mineralized zone starts at surface and now is clearly shown to extend down to 1,100 meters. Cloutier, CEO at Cartier says “our team has just been rewarded for taking a risk that others thought would “kill the target”.”

Let’s back up a bit. Cartier has a dual strategy when it comes to drilling its flagship Chimo Mine project.  Drilling deep along the historically profitable Mine trend, and, drilling deeper on known but lesser explored gold zones accessible laterally from current Mine infrastructure.  The company’s challenge is managing the risk to reward of its ongoing robust brownfields drill program.  Here is part of the issue: deep ounces are expensive. Going down several hundred meters from an existing shaft piles up the CAPEX of a potential mine. That up-front cost is often hard to justify for deep ounces even if the drill absolutely confirms the ounces are there. However, drilling deep into known structures can be attractive and represents what looks like a low-risk drilling strategy.  So, Cartier thought they would balance that approach with an appropriate amount of higher risk – higher reward targeting.

A much higher risk drilling strategy is to drill where your historical data and geological model suggests there are more accessible ounces. For Philippe Cloutier, CEO of Cartier Resources, finding unmined ounces in the Chimo mine was a beginning. Drilling structures below the 900 meter shaft of the mine followed up that beginning and confirmed the logic of the known geological structure. Cartier could have continued to drill at depth in the same structure for years and added more and more deep ounces to its inventory.

Unfortunately, that sort of “safe”, quite predictable, program is not likely to bring significant returns to investors. Because investing in junior explorers is about discovery, not confirmation. And discovery means finding new ounces which can be mined near term with a relatively low CAPEX. Those are the ounces which will add shareholder value.

Which brings us to the concept of “drill to kill”. If a company believes that a particular target has new ounces there is only one way to find out: drill the target. Of course, the problem here is that the company may be wrong. For cautious managements, the potential impact of a “miss” on the company’s ability to raise next year’s funding makes drilling for fresh discovery seem too risky. But this caution is a great disservice to an exploration company’s shareholders.

The opposite strategy, drilling to prove or disprove a geological hypothesis, creates a much higher risk profile but it also creates a much more significant upside potential. And that is why the new deep 6N1 drill results changes the game for the Chimo Mine project.

The great advantage of the 6N1 target is that it is a mineralized structure which is only 80 meters away from the old Chimo mine workings. Drifting 80 meters is, relatively speaking, cheap. Which means that the ounces in 6N1 are both a new discovery and the sort of ounces which will warm the heart of even the most sceptical of mining accountants.

In principle, every ounce of gold in a deposit has a value, but some are worth much more than others.

With the strong results at depth from the 6N1 target, Cloutier might be permitted an “I told you so.” In fact, however, the company believe they have a secured bet with the ongoing Phase II drilling program which is testing 7 zones even further away from known mineralization including the furthest of all, 5M4.

Cloutier is expecting the results from further drilling in the 6N1 structure and in the more distant target areas in the next couple of months.

“This is the tipping point,” said Cloutier. “Now mining companies should “think Cartier” when they are looking for good gold ounces in an established mining camp.”

While Cloutier has to wait for the actual assays from the drill program, he likes what he sees coming from the two drills on site.

When you “drill to kill” and hit what you are looking for, you are creating real value for shareholders. You are confirming the new, mineralized, structures which make an old mine all the more attractive.

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White Gold Q&A: Vertigo target on the JP Ross property Yukon

On November 15, White Gold Corp. (V.WGO) put out a press release further detailing the major new discovery at its “Vertigo” target. MotherlodeTV recently interviewed White Gold Corp. CEO, David D’Onofrio, about this discovery in the White Gold District, Yukon.

 What were the recent drilling results from the Vertigo target?

As we continue to receive assay results, Vertigo continues to demonstrate itself to be a very exciting new high-grade gold discovery! The latest assays returned results such as 3.21 g/t Au over 82.3m, including 31.4 g/t Au over 6.1m, including 103.9 g/t Au and 400.0 g/t Ag over 1.52m from surface, and three deeper mineralized zones including 4.92 g/t Au over 6.1m from 36.58m.

These are just the latest results of Vertigo, which has proven to be one of the highest-grade gold discoveries ever in the White Gold District. To date at least 12 mineralized structures have been recognized at Vertigo, with the discovery holes from earlier this year including 56.25 g/t Au over 3.0m, over a broader intercept of 17.34 g/t Au over 10.7m from 3.0m depth, and 23.44 g/t Au over 24.38m from surface ending in mineralization.

Many of these and other drill holes are ending in mineralization near surface, which further demonstrates the strong potential economics of our find here. These high-grade results have been achieved over a strike length of 300m x 250m, with high-grade surface results extending strike over 1.5km, along a 14km structural trend. These are outstanding results from one of our newest discoveries, and we’ve only scratched the surface on what we have here; 2019 is going to be a very exciting year for White Gold!

How was the Vertigo target located?

Vertigo is located on our JP Ross property and is another success of our regional exploration strategy. It is a methodical approach designed by our Chief Technical Advisor and legendary prospector Shawn Ryan, which consists of analyzing each piece of our land package step-by-step with advanced geotechnical techniques. Techniques including analyzing our database of thousands of soil samples, helicopter-based LIDAR and geologic mapping of faults, using the proprietary low-environmental impact GT probe to sample the bedrock, and then when the target is well defined, drilling!. With Vertigo and our other two discoveries this year (Ryan’s Showing and GS West), Shawn Ryan’s exploration strategy has continued to prove its effectiveness, and we are now gaining even more confidence for the possibilities of additional new discoveries on our very large land package which is in excess of 40% of a prolific emerging gold camp.

In the release you talk about a 14 kilometer “structural trend”. What are the characteristics of that trend?

Our exploration work around Vertigo has produced multiple surface samples with over 130 g/t gold being encountered, defining a very long strike length over 1.5 km, all of this along a greater trend that looks to extend over 14km. This trend is structurally controlled as observed through geophysical analysis with high-grade mineralization at surface, and with such an extended structure, we have noted multiple other possible targets that have yet to be tested. This season we focused on performing soil sampling to identify new targets along the trend. We can’t wait for next year’s drilling season to test these additional targets further.

Is Vertigo remotely located? Will the future government-funded infrastructure spending benefit the target?

Vertigo is about 75km south of Dawson City, and about 20km north of our flagship gold resource Golden Saddle. It is very favourably situated only 2km away from the main road to Dawson, which means we can basically drive right to the property, which is practically unheard of for most sites in new exploration jurisdictions. This is part of the road system which is currently being upgraded by the government.

White Gold is positioned to benefit greatly from the government’s infrastructure investments which is being done to advance mining and exploration in the territory for which they are very supportive. The Federal and Territorial Governments announced last year that they are investing over $300 million to upgrade many of the roads in the Yukon to haul-grade to facilitate mining exploration and development. With the majority of these roads going to Goldcorp’s Coffee deposit which is on schedule to start production in 2021, many of the roads are going right through our properties as well. The exploration of Vertigo, the rest of our land package, and the entire Yukon region benefit greatly from continued pro-mining support received from all levels of government.

How many holes are left to report and does White Gold plan to go back to this area next season?

There are still many drill holes from Vertigo the Golden Saddle and some of our other targets with assay results pending. We expect to receive these in the coming weeks and are looking forward to the results.

Vertigo is a major new discovery and we will definitely be testing it further as we did this year and with diamond drilling as well. For next year’s drilling season, we are planning to continue our strategy of splitting our exploration work between expanding our existing major discoveries, such as Golden Saddle and now Vertigo, and for growing our portfolio of targets through regional exploration.

We are also very pleased with the rest of our exploration from this year and still have many exciting untested targets that we will be testing the coming years.

If all works out, we could be speaking about another one or more new Vertigo-type discoveries before long.

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Bulk sampling as an exploration tool

Our friend Janet Lee-Sheriff, CEO of Golden Predator (V.GPY) was kind enough to share the company’s internal briefing document on bulk sampling as an exploration tool.

Here’s an excerpt but it is very worthwhile to read the whole thing.

“In Golden Predator’s case we bulk sampled our 3 Aces Project in the Yukon in 2016 on a very small scale to determine if the gold present in the veins was recoverable from the enclosing quartz veins economically.  This testing proved that the gold was “free-milling” requiring only gravity recovery methods and water.  This process required no chemicals in order to achieve up to 90% recovery of the gold.  Although free milling gold was not uncommon in the 1800s, most of it has already been mined making the 3 Aces project notable. The bulk sampling continued in 2018 with the extraction of an expected 6,000 to 7,000 tonnes from an adjacent area that had previously been drilled on close spacing (up to 5m x5m) and had been modeled to predict the distribution, grade and total gold content of the area sampled.  During the next few months, we will be  reconciling the actual gold recovered from the plant, on a bench by bench basis (the 2018 sample involved surface cuts each 2m high), and again as a total on all materials extracted, these results will permit us to verify or make necessary adjustments to our drill density and our modelling parameters.”

Here is a link to Bulk sampling as an exploration tool.

 

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Marathon Drills Continue Hitting High-Grade Gold in the Southwest with 5.36 g/t Au over 11.0 meters, 3.63 g/t Au over 10 meters, and 18.40 g/t Au over 6.0 meters, Valentine Lake Gold Camp, Newfoundland

Highlights:

Drilling

  • Infill drill holes MA-18-330 and MA-18-334 succeeded in intersecting high-grade gold intervals that extend along strike to both the northeast and southwest into adjacent zones of previously drilled high-grade mineralization within the southwestern end of the Marathon Deposit open pit (Figure 1). MA-18-330 intersected 5.36 g/t Au over 11.0 meters with 10.67 g/t Au over 2.0 meters and 12.27 g/t Au over 2.0 meters, and MA-18-334 intersected 18.40 g/t Au over 6.0 meters with 104.39 g/t Au over 1.0 meter and 1.92 g/t Au over 23.0 meters with 5.45 g/t Au over 5.0 meters.
  • Drill holes MA-18-323 and MA-18-325 intersected high-grade zones of gold at both shallow and deeper levels of the open pit with MA-18-323 returning 3.63 g/t Au over 10.0 meters with 8.51 g/t Au over 3.0 meters and MA-18-325 returning 4.64 g/t Au over 5.0 meters with 10.87 g/t over 2.0 meters (Figure 1).
  • Positive drilling results from additional infill drill holes in this less drilled southwestern part of the expanding Marathon Deposit open pit included MA-18-329 with 8.22 g/t Au over 4.0 meters, MA-18-335 with 1.90 g/t Au over 5.0 meters including 6.37 g/t Au over 1.0 meter and MA-18-322 with1.55 g/t Au over 8.0 meters with 5.65 g/t Au over 1.0 meter.

Project Update

The 2019 work program is a coordinated program of infill drilling, engineering, metallurgical and environmental work planned to achieve a comprehensive and positive Preliminary Feasibility Study.

  • The 41,000-meter 2018 step-out and infill drilling program was completed at the end of October. Drilling results up to October 6th, 2018 were included into the October 30, 2018 updated resource and revised PEA. The results of drill holes received after October 6, 2018 will be used in the PFS.
  • The advanced metallurgical testing is continuing on material from both the Marathon and Leprechaun Deposits, working to optimize both mill and heap leach recoveries.
  • Planning for the winter 2019 drilling program is underway with a focus on expanding open pit resources at the Marathon deposit and Sprite Zone as well as infill drilling to reduce the amount of inferred resources in the pit shells.
  • Planning is also taking place for the geotechnical and environmental programs required for the PFS.
  • Nov 21st, Drill Map

TORONTO, Nov. 21, 2018 (GLOBE NEWSWIRE) — Marathon Gold Corporation (“Marathon” or the “Company”) (TSX: MOZ) is pleased to announce successful drilling as we continue intersecting multiple intervals of en-echelon stacked QTP veining with moderate and high-grade gold grades at open-pit depths in the southwestern part of the Marathon Deposit (Figure 1). Drill holes MA-18-330, MA-18-334, MA-18-323, and MA-18-325 all succeeded in intersecting significant intervals of good gold grades as we continue to further define the main mineralized corridor in this southwestern part of the Marathon Deposit; focusing on widening the shallow open pit resources and decreasing strip ratio.

“We are delighted with the continued success of the 2018 drilling program as we significantly increased the Valentine Lake global resources, upgraded the PEA, and found more high potential exploration targets. The coming 2019 drilling season will see our efforts focused primarily on converting strategic inferred open pit resource blocks into indicated resources” said Phillip Walford, President and CEO of Marathon Gold. The 2018 infill drilling campaign has been very successful at upgrading inferred to measured and indicated resource categories at the Marathon Deposit as well as discovering new zones of high-grade gold for further drilling within the pit shells. The results released today are part of the continued successful infill drilling program. I look forward to the drilling, metallurgy, engineering and environmental studies generating a positive Preliminary Feasibility Study in 2019.”

TABLE 1: Significant assay intervals, Marathon Deposit, Valentine Lake Gold Camp.
DDHSectionFromToCore
Length
(m)
True
Thickness
(m)
Gold g/tGold g/t
(cut)*
MA-18-32116940374032.11.54
MA-18-32217080677586.01.55
including747510.85.65
MA-18-32316940134144108.03.63
including13613932.48.51
15115875.61.05
27627932.42.45
MA-18-32516870576254.34.64
including586021.710.87
16116765.13.32
MA-18-3261699013013443.61.84
MA-18-32916730252943.28.22
MA-18-33016740141954.02.98
including151721.66.20
 2637118.85.36
including283021.610.67
including353721.612.27
MA-18-33116600131632.92.31
444843.81.10
868932.91.25
MA-18-3321674012512832.62.20
15115432.61.43
19219532.61.54
20220532.61.18
MA-18-33416740273254.81.58
666932.91.65
9910565.718.408.50
including10410511.0104.3945.00
12813132.91.65
18218532.94.75
20320632.91.32
2222452321.91.92
including23524054.85.45
25325632.92.53
MA-18-3351698012212532.92.27
14915232.91.25
26626932.91.96
27728254.81.90
including27727811.06.37
29930232.92.21
* MA-18-324, 327 and 328 previously released, FA cut to 45 g/t Au

Figure 1 accompanying this announcement is available at: http://www.globenewswire.com/NewsRoom/AttachmentNg/0f585090-4b5c-4650-95b2-ca1a4ef9832e

Acknowledgments

Marathon acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.

Quality Assurance-Quality Control (“QA/QC”)

Sherry Dunsworth, M.Sc., P. Geo., Senior VP of Exploration, Marathon’s Qualified Person, has reviewed the contents for accuracy and has approved this press release on behalf of Marathon. Thorough QA/QC protocols are followed including the insertion of blanks and standards at regular intervals in each sample batch. Drill core is cut in half with one half retained at site, the other half tagged and sent to Eastern Analytical Limited in Springdale, Newfoundland. All reported core samples are analyzed for Au by fire assay (30g) with AA finish. All samples above 0.10 g/t Au in economically interesting intervals are further assayed using metallic screen to mitigate the presence of coarse gold. Significant mineralized intervals are reported in Table 1 as core lengths and estimated true thickness (70-95% of core length).

About Marathon

Marathon is a Toronto based gold exploration company rapidly advancing its 100% owned Valentine Lake Gold Camp located in Newfoundland, one of the top mining jurisdictions in the world. The Valentine Lake Gold Camp currently hosts four near-surface, mainly pit-shell constrained, deposits with measured and indicated resources totaling 2,691,400 oz. of gold at 1.85 g/t and inferred resources totaling 1,531,600 oz. of gold at 1.77 g/t. The majority of the resources occur in the Marathon and Leprechaun deposits, which also have resources below the pit shell. Both deposits are open to depth and on strike. Gold mineralization has been traced down over 350 meters vertically at Leprechaun and almost a kilometer at Marathon. The four deposits outlined to date occur over a 20-kilometer system of gold bearing veins, with much of the 24,000-hectare property having had little detailed exploration activity to date.

The Valentine Lake Gold Camp is accessible by year-round road and is located in close proximity to Newfoundland’s electrical grid. Marathon maintains a 50-person all-season camp at the property. Recent metallurgical tests have demonstrated 93% to 98% recoveries via conventional milling and 50% to 70% recoveries via low cost heap leaching at both the Leprechaun and Marathon Deposits.

To find out more information on the Valentine Lake Gold Camp please visit www.marathon-gold.com.

For more information, please contact:
Christopher HaldanePhillip Walford
Investor Relations ManagerPresident and Chief Executive Officer
Tel: 1-416-987-0714Tel: 1-416-987-0711
E-mail: chaldane@marathon-gold.comE-mail: pwalford@marathon-gold.com

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Except for statements of historical fact relating to Marathon Gold Corporation, certain information contained herein constitutes “forward-looking statements”. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as “expects”, “anticipates”, “plans”, “believes”, “considers”, “intends”, “targets”, or negative versions thereof and other similar expressions, or future or conditional verbs such as “may”, “will”, “should”, “would” and “could”. We provide forward-looking statements for the purpose of conveying information about our current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in Marathon Gold Corporation’s public filings, which may be accessed at www.sedar.com. Other than as specifically required by law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events, results or otherwise.

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Precipitate Appoints Former President & Executive Director of Barrick’s Pueblo Viejo Mining Operation as Advisor

Precipitate Gold Corp. (TSXV: PRG) (the “Company” or “Precipitate”) is pleased to announce it has appointed Mr. Mejico Angeles-Lithgow as an advisor and consultant to the Company.

Mr. Angeles-Lithgow is a Dominican national who, until March 2018 held the position of President and Executive Director of the Barrick-Pueblo Viejo mining operation in the Dominican Republic, a joint venture company between Barrick (60%) and Goldcorp (40%) which is the single largest investment in the country’s economic history. Mr. Angeles-Lithgow worked at Barrick-Pueblo Viejo for nearly 11 years, having held the position of Director of Government Affairs before being promoted to President and Executive Director.

As President and Executive Director of Barrick-Pueblo Viejo, Mr. Angeles-Lithgow was responsible for co-managing one of the largest gold mining operations in the world and one of the Dominican Republic’s most important economic drivers, with an initial infrastructure investment of approximately US$4.3 billion and a recent 2017 production rate of approximately 1.0 million ounces gold per year at an all-in-sustaining cost per ounce of US$525*. The Company currently reports existing mining resources of 13.4 million ounces (“Moz”) gold, 74.4 Moz silver, and 298.5 million pounds copper (measured and indicated mineral resource from 169.5 million tons grading 2.46 g/t gold, 13.66 g/t silver and 0.08% copper) and an additional 3.6 Moz gold, 16.0 Moz silver, and 87.2 million pounds copper in the inferred category**. (*March 2018, NI 43-101 report. **Reported annual 2017 production, Barrick website).

Jeffrey Wilson, Precipitate President & CEO, stated, “We are pleased to welcome Mr. Angeles-Lithgow to the Company as an advisor and consultant. In light of our recent announcement to acquire ground adjacent to Barrick’s Pueblo Viejo mining operation, Mr. Angeles-Lithgow will provide critical local and in-country expertise to augment the geological and business acumen of the Company’s management team and Board of Directors. Mr. Angeles-Lithgow’s track record for establishing mutually beneficial relationships between the mining sector and local communities, business leaders and government officials at all levels, will provide invaluable insight to Precipitate as it commences activities at its Pueblo Grande Project. In his prior capacities at Pueblo Viejo, Mr. Angeles-Lithgow established himself as an important leader in the country’s mining sector, while making unique contributions to an admirable precedent for successful and responsible mining in the Dominican Republic.”

Prior to working at Barrick, Mr. Angeles-Lithgow was the Director of Commercial and Regulatory Affairs at Empresa Generadora de Electricidad Haina, S.A. (E.G.E. Haina), one of the two power generation companies formed as a result of the capitalization of the former state-owned power utility in the Dominican Republic and the reform of the power sector. He worked in the power sector for over 8 years.

Prior to his experience in the power sector, Mr. Angeles-Lithgow held various positions in the private sector in the Dominican Republic from which his involvement in marketing, sales, economic development, investment promotion, and community development, add to his broad-based management experience.

Mr. Angeles-Lithgow received a B.Sc. in Business Administration from the Pontificia Universidad Católica Madre y Maestra (PUCMM) in Santo Domingo, followed by a Master of Science in Finance from the University of Lancaster, England and a Master’s Degree in Power Sector Economic Regulation from the Pontifical University of Comillas of Madrid, Spain (program delivered in Santo Domingo). He also completed a Master Degree in Security and Defense Studies from the Dominican Republic’s Ministry of Defense’s Graduate School of Strategic Studies and holds a graduate degree as Geopolitics Specialist from the same academic institution.

The Company also wishes to announce it has granted a total of 3,025,000 incentive stock options to directors, officers, employees and consultants of the Company, subject to TSX Venture Exchange approval and acceptance. Each option is exercisable to purchase one common share of the Company until November 20, 2023 at a price of C$0.08 per common share in accordance with the terms of the Company’s stock option plan.

About Precipitate Gold:

Precipitate Gold Corp. is a mineral exploration company focused on exploring and advancing its mineral property interests in the Tireo Gold Trend and Pueblo Viejo Camp of the Dominican Republic. The Company also maintains assets in southeast Yukon Territory, specifically the Company’s Reef property located immediately adjacent to Golden Predator’s 3 Aces Project in the Upper Hyland River area. The Company has entered into an Option to Purchase Agreement with Golden Predator whereby Golden Predator can earn a 100% interest in the Reef claims by making certain staged payments in cash and shares and warrants. Precipitate is also actively evaluating additional high-impact property acquisitions with the potential to expand the Company’s portfolio and increase shareholder value.

Additional information can be viewed at the Company’s website www.precipitategold.com.

On Behalf of the Board of Directors of Precipitate Gold Corp.,

Jeffrey Wilson

President & CEO

For further information, please contact:

Tel: 604-558-0335 Toll Free: 855-558-0335 investor@precipitategold.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release may contain “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Precipitate Gold Corp.’s (“Precipitate” or the “Company“) current beliefs and is based on information currently available to Company and on assumptions it believes are reasonable. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Precipitate to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the exploration concessions may not be granted on terms acceptable to the Company, or at all; general business, economic, competitive, political and social uncertainties; the concessions acquired by the Company may not have attributes similar to those of surrounding properties; delay or failure to receive governmental or regulatory approvals; changes in legislation, including environmental legislation affecting mining; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although Precipitate has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Precipitate does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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Cartier: Brownfield Exploration Generates Gold Ounces at Chimo Mine

The great thing about brownfield exploration is that you know the gold is there. All the more so if you are exploring in one of Canada’s greatest gold districts, the Abitibi and the Val-d’Or Mining Camp.

This is why Cartier Resources (V.ECR) President and CEO, Philippe Cloutier was not surprised that drilling below the old Chimo mine, which has a shaft going down 920 meters, produced results.

In a November 12 press release, Cartier reported results from drilling conducted beneath a zone which produced 75% of the ounces, or roughly 300,000 ounces, extracted from the Chimo mine. In that release Cloutier was quoted as saying, “These new results further increase the volume of gold mineralization of interest beneath the Chimo Mine to the east, significantly increasing the potential for resource development.”

“We’re seeing continued confirmation that the main mine trend continues at depth,” said Cloutier in a telephone interview. “Every hole beneath the mine has produced the same grades and widths as they mined 25 years ago.”

Cartier’s program is drilling holes 1200 to 1800 meters deep. “We’re looking 200 to 700 meters below the bottom of the shaft,” said Cloutier. “Results from our deeper holes will be coming.”

Cartier has a huge advantage because the Chimo Mine has a 920 meters shaft in place. The shaft is flooded but dewatering is a well-understood process. The value of that shaft and the tunnels which run off it and into the mineralized zones is huge. Somewhere on the order of 100 million dollars is a reasonable estimate of what it would cost to sink such a shaft.

For Cloutier the shaft and the mineralization beneath the old mine is a start. “An estimated potential of 300,000 ounces were left over from the previous producer when the old Chimo mine shut down due to low gold prices,” said Cloutier. “when you add that to the 300,000 ounces that had been mined, one can easily see what our deep drilling was targeting” adding “with our recent deep drilling we have potentially outlined an additional 600,000 ounces at depth.”

All of which is a very good start but Cloutier wanted to look for more gold in partially explored areas proximal to the shaft. “Our new zone announced in the October 9th press release, 200 meters south of the shaft, referred to as 6N1 and another zone currently being drilled 500 meters east of the shaft along the main mine trend, which we refer to as the 5M-NE, are game changers.”

“These areas are lateral to the shaft and are part of the recently commenced Phase II drilling,” said Cloutier. “For now, the zones will be drilled up to the existing shaft depth. Mining these areas would be much more profitable than having to extend the shaft to reach the areas below its current depth. We believe this drilling could bring a potential of up to 750,000 ounces additional ounces lateral to the existing shaft.”

Expanding the gold resource at depth while also stepping out laterally means that Cartier is assembling an attractive resource package which Cloutier is confident could yield over 1.5 million ounces.

“The project has the infrastructure and power, it’s right by the highway with qualified workforce nearby,” said Cloutier.

Clearly, Cloutier is looking to develop an enviable resource potential and then find a partner for the Chimo asset. But are the larger mining companies interested?  “Large companies are known to pay the right price and know that Junior companies rarely have as much flexibility and therefore waiting is part of their approach. That said, with over 8 million dollars in the bank, this Junior is in a good position.”

“By April 2019 we’ll have drilled over 100 diamond drill holes for a total of 50,000 meters within a 500-meter radius of the existing shaft and evaluated the upside potential of 23 known gold zones, we expect to have identified a potential of 1.5 million ounces.” Adding “the work we’re doing is building confidence into the project’s future.”

It is a strategy designed to maximize shareholder value. “Take a quality legacy Gold project with valuable infrastructure, short lead time to production, a low environmental impact and a clear potential to be a profitable mine” says Cloutier “and you’ve provided the industry leaders with a much-needed product.” Cartier is investing to demonstrate the value of its Chimo asset. While Cartier could, almost certainly, drill up more ounces it is not clear that further investment would actually benefit shareholders.

“I am not happy with our share price at the moment. Our market value is certainly not a reflection of our enterprise value. However, with cash in the bank, a successful exploration program and a growing exploration asset in hand we believe our stock price will adjust at some point.”

As the ounces grow, the interest in the asset increases. With money in the bank, Cloutier can afford to wait for whatever trigger a company looking for more than a million ounces cares about. An increase in the price of gold is a traditional trigger. If gold begins to trend up, Cartier’s Chimo asset, with its comparative low start-up costs, easy brownfields permitting and a fast track to production, is likely to be at the top of the list for gold miners.

A good place to be.

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