Drilling Begins on New Mosher Gold Project; Update on Anik Gold Project

“The Wabash copper-silver property is demonstrating excellent potential. We are seeing the first confirmation of higher-grade horizons with 0.73% Cu and 20.5 g/t Ag over 7m that remain open to the West. The strongest and the biggest IP anomaly that measures over 1km long by 250m wide and several other significant anomalies have not yet been tested and will be priority targets for the upcoming exploration program. We wanted to get as much data as possible from Wabash before winter started. We followed what we had at the time and had made excellent progress. Now, from combining the channel results and the geophysical data, we can see that mineralization has good correlation with the IP anomalies and that we are working with various horizons. The right conditions appear to be there to identify a significant width copper zone at surface over several kilometers. The objective for Wabash is clear now: identify the best copper and silver horizons, follow them and build up volume.” commented Kiril Mugerman, President & CEO of Kintavar Exploration.

“The polymetallic nature of Wabash is of particular interest here.” added Mugerman. “Zinc was identified in 27 samples with grades above 0.1%. Gold is not commonly found in this type of deposit but it appears the Grenville geology had some influence here as can be seen by the 6 samples that returned gold grades above 0.1 g/t in additional to their copper and silver grades. Manganese, an important metal for Li-ion batteries with no production in North America, is present across all the units with an average grade of 0.6% Mn. Some anomalies in cobalt and lead have been identified as well. No follow up on Au, Zn, Mn or Co has been done to date on the property but will be part of the scientific research and exploration program in 2021.”

“We are very pleased with these results. We see a strong correlation between these IP anomalies and the recently demonstrated 5km soil trend in the Cloutier-Lapointe area. The IP survey was limited to the main areas we knew based on the work completed in 2020 but we now clearly see that this survey will need to be extended further based on the potential size of the anomalies. The Richer area, the strongest soil anomaly on the Wabash property to date, was not covered at all by this IP survey but we expect to complete this in the near future. By combining the strength of the IP anomaly, soil anomaly and geological/structural anomaly, these 6 areas have been graded in terms of priority for the upcoming summer program. The 2 IP anomalies which are pending trenching assay results will be further evaluated as part of planning the first drilling program on the Wabash property. Traditionally, sediment hosted copper deposits are long and continuous which is exactly the confirmation we wanted to see from the soil and the geophysical surveys.” commented Kiril Mugerman, President & CEO of Kintavar Exploration.