Azarga Metals Focused ON High-Grade Copper-Rich VMS Marg Project IN Yukon
AZARGA METALS CORP.
UNIT 1 – 15782 MARINE DRIVE, WHITE ROCK, B.C. V4B 1E6, CANADA
www.azargametals.com
FOR IMMEDIATE RELEASE TSX-V: AZR
AZARGA METALS FOCUSED ON HIGH-GRADE COPPER-RICH VMS
MARG PROJECT IN YUKON
March 22, 2022 – Vancouver, B.C. - AZARGA METALS CORP. ("Azarga Metals " or the
“Company”) (TSX-V:AZR) has posted an updated corporate presentation on its website ,
www.azargametals.com, focused on the Company’s 100% owned high- grade copper-rich VMS
Marg project, within the Keno Hill Silver District, Yukon Territory.
President, CEO and Director, Gordon Tainton, said: “ We recently obtained access to the VTEM
database of the airborne geophysical program previously conducted by GeoTech, Ontario. This
underutilized historic VTEM database can now be reviewed and re-interpreted and used to refine
the drill targets for the Company’s planned 2022 exploration program. Drilling is expected to focus
on the Marg deposit extensions and the highly prospective Jane Zone, which has the potential for
another Marg-style deposit. Mineralization at the Marg project remains open along strike, down-
dip and down plunge and drilling will be aimed at defining 14 to 15 million tonnes of mineralized
material.”
The Company’s planned 2022 exploration program will commence with rebuilding the exploration
camp and mobilizing equipment in June, drilling from July to September and disseminating drill
results as available from September to November. A n experienced geologist in VMS deposits
and a full-service contractor has been sourced to execute and oversee this plan.
The most recent NI 43-101 Mineral Resource estimate for Marg (see Table 1 below) was
completed by Mining Plus Canada Consulting Ltd. in 2016 and incorporated into a Preliminary
Economic Assessment (“PEA”) for the project (note: the PEA title is “Revere Development Corp,
Marg Project Preliminary Economic Assessment, Technical Report, Yukon Canada” and is dated
August 31, 2016).
The mineral resource estimate in the 2016 PEA was prepared in accordance with NI 43- 101
standards and is considered by Azarga management to have a high degree of reliability, however,
the resource has not been verified by Azarga and is considered historical in nature. A qualified
person representing Azarga has not done sufficient work to classify the historical estimate as a
current mineral resource and Azarga is not treating it as a current mineral resource.
Table 1 – August 31, 2016 Historical Resource estimate for the Marg Project at a 0.5%
copper equivalent cut-off (combining high-grade and low-grade zones)1
Category Tonnage (mt) Cu% Pb% Zn% Ag g/t Au g/t
Indicated 3.7 1.5 2.0 3.8 48 0.76
Inferred 6.1 1.2 1.7 3.4 44 0.74
Note: 1. Where CuEq% was calculated = Cu% + 0.28 Pb% + 0.32 Zn% + 0.39 Au g/t + 0.0055 Ag g/t, which was
assessed based on the following metal price and recovery assumptions: Cu price of 2.5 US$/lb and recovery of 80%
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AZARGA METALS CORP.
UNIT 1 – 15782 MARINE DRIVE, WHITE ROCK, B.C. V4B 1E6, CANADA
www.azargametals.com
(96.5% payable); Pb price of 0.8 US$/l b and recovery of 70% (95% payable); Zn price of 0.8 US$/lb and recovery of
90% (85% payable); Au price of 1100 US$/oz and recovery of 50% (90% payable); and Ag price of 16 US$/oz and
recovery of 50% (90% payable).
Update on the Company’s Unkur Copper-Silver Project in Eastern Russia
Countries around the world have imposed a number of sanctions on Russia in response to the
Russian invasion of Ukraine. These sanctions include, but are not limited to, removing certain
Russian banks from the Society for Worldwide Interbank Financial Telecommunication (“SWIFT”)
messaging system, which will likely affect the Company’s ability to fund it s 100% owned Unkur
project located in the Zabaikalskiy Region of eastern Russia and likely jeopardize the viability of
the Company’s business operations in Russia. The Company is analysing the evolving situation
and assessing the risks associated with these sanctions and their impact on the Company’s
operations. As noted earlier in this press release, the Company’s focus is on its 100% owned
Marg project located in the Yukon Territory of Canada.
AZARGA METALS CORP.
"Gordon Tainton"
Gordon Tainton,
President and CEO
For further information please contact: Doris Meyer, at +1 (604) 536-2711 ext. 3, visit
www.azargametals.com. The address of the head office of Azarga Metals is Unit 1 - 15782 Marine
Drive, White Rock, BC V4B 1E6, British Columbia, Canada.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.
Cautionary Statement:
This news release contains forward- looking statements that are based on the Corporation's current
expectations and estimates. Forward- looking statements are frequently characterized by words such as
"plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar
words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements
involve known and unknown risks, uncertainties and other factors that could cause actual events or results
to differ materially from estimated or anticipated events or results implied or expressed in such forward-
looking statements. S uch factors include, among others: the Company’s ability to fund the 2022 Marg
Project exploration program, the Yukon Energy, Mines and Resources accepting the Company’s 2022
exploration program and related activities report under the Quartz Mining Land Use approvals; reaching an
agreement with the First Nation of the Na-cho Nyäk Dun for right of use of their traditional territory; engaging
an experienced full-service contractor and expert in VMS deposits to execute and oversee the 20 22 Marg
Project exploration program; the actual results of the current planned exploration activities; conclusions of
economic evaluations; changes in project parameters as plans to continue to be refined; possible variations
in mineralization grade or recovery rates; accidents, labor disputes and other risks of the mining industry;
delays in obtaining governmental permit approvals or financing; fluctuations in metal prices and the
continued viability of the Company’s ability to fund care and maintenance of the Unkur Project. There may
be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any
forward-looking statement speaks only as of the date on which it is made and, except as may be required
by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking
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AZARGA METALS CORP.
UNIT 1 – 15782 MARINE DRIVE, WHITE ROCK, B.C. V4B 1E6, CANADA
www.azargametals.com
statement, whether as a result of new information, future events or results or otherwise. Forward- looking
statements are not a guarantee of future performance and accordingly undue reliance should not be put on
such statements due to the inherent uncertainty therein.