Goldseek Resources Completes Planning of Phase 1 Exploration and Identifies Initial Targets at the Quevillon West Property

July 23, 2020 – TheNewswire – London, Ontario – Abitibi Metals Corp. (CSE:GSK) (CNSX:GSK.CN) (“Goldseek” or the “Company”) is pleased to announce that the planning of Phase 1 exploration at the Quevillon West Property is now complete and the work program is expected to begin before the end of July 2020. The Company decided that a systematic till and boulder sampling program was the best way to assess the Property’s many targets, which are shown below. The Company also did a new interpretation of the surface overburden cover, using air-photos along with satellite and LIDAR imagery, which allowed planning of the till sampling survey.

It will be the first time in the Property area that a systematic and regional scale sampling survey will be performed. This is possible due to the consolidation of this large property, while previous ownerships focused on small portions of these targets. The Quevillon West Property is currently made up of 497 claims, covering approximately 27,156.69 hectares (271.55 km2). Following the review, a total of 18 claims were staked to ensure additional coverage in strategic areas and are still pending.

The main targets on the Property include the following and are shown in Figure 1 below:

• The Maizerest shear zone located at the contact between the Glandelet Formation (sediments) and the Vanier-Dalet-Poirier Group (volcanics). The contact was also defined as an exploration target by the Ministry of Energy and Natural Resources (“MERN”). A grab sample located close to the contact assayed 10.2 g/t Au.

• The Vanier-Dalet-Poirier Group, which is made of andesitic rocks and felsic tuffs. The group includes, west of the Property, the Sleeping Giant mine, operated by Abcourt Mines. The mine has a reserve estimate dating 2018 that shows measured and indicated resource of 486,500 tons @ 11.20 g/t Au (Abcourt, 2018). The Group also hosts, east of the Property, the Osborne-Bell gold resource of 2,587,000 tons @ 6.13 g/t owned by Osisko Mining (Osisko, 2018). The Picadilly showing is located in this Group, north of the Property, and assayed 10.25 g/t over 1m and also 1.08 g/t over 1m. Some more showings are hosted in that Group and are located on the Property: Mon-D’Or-Themine (1 g/t over 1.0m); Sondage KC-86-9 (3.82 g/t Au (+- Zn and Cu) over 0.2m) and Q-27-KC-86-7 (0.65% Zn + 0.11% Cu over 0.97m). A review of the geochemistry revealed on the Property an anomalous area in gold and base metal inside this Group.

• Two other shear zones of significance are found on the northern part of Property. The Femelle and the Kakingama shear zones pass through the northern claim block. These shear zones are manifested by intense stretching lineaments, an increase in schistosity and the presence of numerous quartz-chlorite-carbonate-(albite)-(pyrite) veins (Hammouche, 2017)

• Faults related to the Laflamme shear zone are located on the eastern claim block, which was newly acquired (See news release dated June 26, 2020). The Laflamme Nord fault is also a target defined by the MERN.

• A sulfide horizon is present in that same area of the Property and is named the Laas VII-30 showing (1.35% Cu over 0.12m). This horizon is described as 26m of pyrite and pyrrhotite mineralization associated with anomalous base metal content. The Company believes that the strike extension of this horizon could host additional base metals and/or gold mineralization. Two conductor lineaments (Geotech, 2017) cross-over just north of that mineralization. A review of historical data also allowed to define a Cu, Zn, Pb sediment anomaly in the area down ice from that horizon. These aspects indicate that potential polymetallic massive sulfide mineralization could be hosted along the strike of the currently known sulphidic horizons.

A systematic till sampling survey will be performed to test the multiple targets found on the Property. The glacial drift direction and regional strike of the geological units will allow a general assessment of the Property with the till sampling program. The assay results should indicate to the Company if mineralization can be found at surface over the defined targets. Upon results, the Company will continue its exploration program using geophysics and drilling.

Goldseek’s President & CEO Jon Deluce states, “We are very excited for our maiden exploration program at the Quevillon West Property which has numerous exciting targets with no underlying royalties on the entire property. The consolidation of this large claim package allowed the Company to plan a regional scale survey in till. This was not previously possible as in the last gold bull market this property was owned by over 8 companies or stakers which didn’t allow for any meaningful exploration. Phase 1 will allow us to survey multiple till patches in a systematic way and will allow us to correlate the results efficiently to discover new anomalies that were undetected so far in this underexplored area of Quebec.”

Qualified Person

This press release was prepared by Pierre-Alexandre Pelletier, P.Geo.OGQ, and Steven Lauzier, P.Geo,OGQ both of whom are qualified persons as defined under National Instrument 43-101, and have reviewed and approved the geological information provided in this news release.

About Abitibi Metals Corp.

Abitibi Metals Corp. is a Canadian exploration company with a portfolio of assets in Ontario and Quebec, Canada. By identifying four projects in world-class mining locations, Goldseek is poised to deliver shareholder value through rigorous exploration and development on these properties. Our mission is to find the next major discovery in the mining camps of Urban Barry, Quevillon, and Detour Gold Trend in Quebec and Hemlo in Ontario.

BibliographyReferences:

1. 1.Abcourt Mines Inc, 2018 : The Sleeping Giant Mine (gold). Online. https://abcourt.com/the-sleepy-giant-mine/
2. 2.Geotech, 2017 : VTEM PLUS Report on a Helicopter-borne Versatile Time Domain Electromagnetic (VTEM plus) Geophysical Survey. Location Lebel-Sur-Quevillon, Quebec. In the SIGEOM Database of the MERN. GM71247
3. 3.Hammouche, H., 2017: Geologie de la Region du Lac Cuvillier, Abitibi-Est (32C15). Ministere des Ressources Naturelles, RG 2016-02.
4. 4.Osisko Mining, 2018 : Osisko Releases Resource Estimate For Osborne-Bell. Online. https://www.osiskomining.com/news/osisko-releases-resource-estimate-for-osborne-bell/

ON BEHALF OF THE BOARD

Jonathon Deluce

Chief Executive Officer

Telephone: 226-271-5170

For more information, please contact:

Abitibi Metals Corp.

E-mail: [email protected]

The reader is invited to visit Goldseek’s web site https://www.goldseekresources.com/