BIG.V · 2021-11-16 12:00:00

Bald Eagle Announces Acquisition of Leviathan Property in Idaho

Mergers & Acquisitions Property Options & Staking

Bald Eagle Announces Acquisition of

Leviathan Property in Idaho

/NOT FOR DISSEMINATION IN

THE UNITED STATES

OR FOR DISTRIBUTION TO U.S. WIRE

SERVICES/

TORONTO

Nov. 16, 2021

/CNW/ - Bald Eagle Gold Corp., ("

Bald Eagle

" or the "

Company

(TSXV: BIG) (OTCBQ: BADEF) announces that the Company has entered into a share purchase

agreement (the "

Share Purchase Agreement

") to acquire a 100% interest in the Leviathan

Property located in the Heath Mining District of

Washington County, Idaho

, USA (the "

Leviathan

Property

", or the "

Property

"). The Property is composed of sixty-five unpatented mineral claims.

The Leviathan is located immediately east of and adjoins the Company's recently acquired Hercules

silver property (

"Hercules"

or the

"Hercules Property"

The Company will acquire the Property (the "

Transaction

") by purchasing all of the issued and

outstanding common shares (the "

Frontier Shares

") of Frontier Metals Canada Holdings Corp.

Frontier Canada

").

Frontier Canada

is a private company existing under the laws of British

Columbia. The holders of the

Frontier Canada

shares (the "

Vendors

") are at arm's length to the

Company.

Closing of the Transaction is subject to receipt of applicable regulatory approvals and third-party

consents, including the approval of the TSX Venture Exchange ("

TSXV

") and closing conditions

customary for transactions of this nature, on or before

December 31, 2021

The Transaction is consistent with the Company's focus of consolidating a district-scale exploration

opportunity in the favourable mining jurisdiction of

Idaho, USA

. The Leviathan Property lies

immediately adjacent to the Company's recently acquired Hercules Property in the Cuddy Mountain

Mining District and expands Bald Eagle's total land position to 2,209 acres in this highly prospective

area.

Historical surface sampling indicates that the silver (+/- lead-zinc) mineralization on the Hercules

Property extends onto the northern portion of the Leviathan, which provides the Company with

additional targets to increase the overall strike length of the mineralized system

. Significant copper

mineralization is also present within the volcanic rocks at surface on Leviathan, suggesting a

potential porphyry copper system may be present at depth.

The last major cycle of exploration took place in the Heath Mining District in the early 1980's, when a

number of companies were active on various claim groups throughout the district. Bald Eagle's

acquisition of the Leviathan represents an important consolidation of the district, allowing the

Company to explore both the silver (+/- lead-zinc) component of the system on the Hercules as well

as possibly related porphyry copper style mineralization on the Leviathan.

Management Commentary

Raymond Harari

, President and Director of Bald Eagle, commented: "We are very excited to be

expanding our Hercules silver project in the mining friendly jurisdiction of

Idaho

. The Leviathan

acquisition provides us with a much larger land package of prospective ground on which to explore

and expand the currently known mineralization. Our geological team is currently preparing a field

exploration program for the newly acquired ground, to be executed over the coming weeks.

Idaho

a top ranked jurisdiction for mining and mineral exploration internationally, and we are excited to

begin exploring and generating news flow on the project."

About the Leviathan Property

The Leviathan Property consists of sixty-five 65 unpatented lode claims situated on the western flank

of Cuddy Mountain in western

Idaho

, approximately 200 kilometers northwest of

Boise

. Cuddy

Mountain is an uplifted and tilted fault block, about 19 kilometers across, characterized by a

Triassic-Jurassic sequence of volcanics, volcaniclastics and sediments, surrounded in all directions

by younger Tertiary basalt flows.

Numerous quartz porphyry plugs, believed to be Cretaceous in age, intrude the volcanic sequence in

the southern half of the Property. A large intrusive complex associated with copper porphyry style

mineralization occurs on the adjacent IXL prospect to the southeast of the Property*. The intrusive

complex present at the IXL prospect is interpreted to be genetically related to similar intrusive rocks

on the Leviathan.

A particular rhyolite flow unit within the Triassic volcanic sequence, informally known as the Hercules

Rhyolite, is host to significant vein and replacement deposits of silver (lead-zinc) on the Company's

adjacent Hercules Property. The Hercules Rhyolite is projected to trend northeast onto the northern

portion of the Leviathan Property. Significant silver, lead and zinc-in-soil values occur along the

projected trend, including the Thor Zone containing individual soil sample values of up to 26 g/t Ag

and 0.75% Pb

. Despite the strongly anomalous soil values, little exploration work has been carried

out at the Thor Zone due to its steep terrain, heavy soil cover and the masking of the mineralized

Hercules Rhyolite by surrounding tertiary basalt cover.

In the southeast of the Property, the 44 Zone is comprised of the White Monument, Cliff, Little Gem,

Lone Star

, Metheny, Yellow Bride, Long Cut and Big Cut prospects. Strongly anomalous silver

values are reported from historic soil samples collected over the 44 Zone

Outcropping mineralization is characterized by disseminated to semi-massive copper and silver

bearing sulfide and oxide minerals hosted within both andesitic and rhyolitic lithologies. The

mineralization is associated with rhyolite sills and dykes which may represent feeder structures to

the overlying Hercules Rhyolite

. Evidence of widely scattered test pits, shallow shafts and adits

from the late 1800's and early 1900's still remain on the Property, some of which have been

obliterated by more recent cat trenches.

En echelon mineralized structures have been exposed by trenching at the Big Cut prospect.

Chalcopyrite occurs as disseminations and less commonly as semi-massive lenses in rhyolite sills

and dykes, further supporting evidence of a genetic association with the stratigraphically overlying

Hercules Rhyolite. Sampling of the principal showings at the Big Cut yielded weighted average assay

highlights of up to 1.78% copper across 90 feet (E.S. Asano, 1971) and 1.3% copper across 57

feet (J. Vincent, 1973)

. The average copper:silver ratio reported at the Big Cut is approximately

2.5:1. Other notable historic trench intercepts at Big Cut include

1,2

______________________________________

Crowley, F. 1983. Thor Explorations Ltd. Jug Group of Claims. Heath Mining District.

Armstrong, C. 1976. Report on the Iron Cap Property, Heath Mining District.

Kelly, S. 1973. Progress Report to the Vancouver Stock Exchange on the Iron Cap, or Big Cut Holdings of Acaplomo Mining and Development Co. Ltd. in the Heath Mining

District with concurrence by C.M. Armstrong, P.Eng.

Zone

Length (ft.)

Cu (%)

Ag (g/t)

Big Cut

1.58

Big Cut

180

0.94

Big Cut

0.91

Big Cut

0.91

Cut Above

115

0.93

Cut Above

2.68

33.52

Cut Below

0.83

Long Cut

0.63

18.13

NR = Not Reported

The assay results reported above are historic in nature and have not been confirmed nor verified by

a Bald Eagle Qualified Person and as a result should not be relied upon.

Appointment of Mr.

Christopher Paul

to the Board of Directors

Pursuant to the terms of the Transaction and subject to the approval of the TSXV, Mr.

Christopher

Paul

will be appointed to the Board of Directors of the Company. Mr. Paul holds a B. Sc. in

Geology from

Simon Fraser University

, 2014, and a Diploma in Mining & Mineral Exploration

Technology, 2011, from the British Columbia Institute of Technology. Mr. Paul is a Principal and

Founder of Ridgeline Exploration, a technical services company which was recently acquired by

Goldspot Discoveries Corp. He has served in numerous senior exploration management roles

including most recently as the Vice President of Exploration for Golden Ridge Resources Ltd. where

he was fundamental in the discovery of the Williams copper gold porphyry in the Golden Triangle

region of

British Columbia

Terms of the Transaction

Pursuant to the Share Purchase Agreement, the Company will purchase: (i) all of the issued and

outstanding Frontier Shares from the Vendors; and (ii) a shareholder loan in the amount of

33,414.00 from one of the Vendors in consideration for the issuance by the Company of 10,000,000

of its common shares (the "

Consideration Shares

") to the Vendors at a deemed price of

$0.045

per share and the entering into of a net smelter return royalty agreement ("

NSR

Royalty

Agreement

") granting the Vendors a perpetual two percent (2.0%) royalty (the "

NSR Royalty

relating to all production from the Leviathan Property.

The Consideration Shares will be subject to a statutory hold period under applicable Canadian

securities Laws which will expire four months and one day after issuance and to voluntary trading

restrictions, with 20% of such shares to be released every six months beginning on

March 24, 2022

Pursuant to the terms of the Transaction and subject to the approval of the TSXV, the Company will

also appoint Mr.

Christopher Paul

to the board of directors of the Company.

The NSR Royalty is subject to a buyback right in favor of the Company pursuant to which the

Company may repurchase, commencing at any time after the date of the NSR Royalty Agreement

and ending upon the commencement of commercial production (as defined in the NSR Royalty

Agreement), with a minimum of 60 days prior written notice to purchase 1% of the NSR Royalty

(such that the remaining NSR Royalty shall be reduced to 1% of the net smelter returns) for a price

equal to

CAD$1,000,000

payable in cash.

Closing of the Transaction is subject to receipt of any applicable regulatory approvals and third party

consents, including the approval of the TSXV and closing conditions customary for transactions of

this nature, on or before

December 31, 2021

Qualified Person

The scientific and technical information in this news release has been reviewed and approved for

disclosure by Nick Tintor, a Qualified Professional Member of the Mining & Metallurgical Society of

America and the "Qualified Person" for Bald Eagle within the meaning of National Instrument 43-101

– Standards of Disclosure for Mineral Projects and a member of the board of directors of Bald

Eagle.

About Bald Eagle Gold Corp.

Bald Eagle Gold Corp. is a junior mining company focused on the exploration and development of

advanced exploration assets in known precious metal districts in the Americas. The Company's

objective is to acquire advanced exploration projects for exploration and development. The Company

intends to, through evaluating historical data and utilizing modern exploration techniques and

geological concepts enhance resources. The management team and board of directors of the

Company have an established track record of creating significant returns for investors and have

demonstrated access to capital to advance the development of assets.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the

TSXV) accepts responsibility for the adequacy or accuracy of this release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the

securities in the United States. Any securities referred to herein have not and will not be registered

under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state

securities laws and may not be offered or sold within the United States or to U.S. Persons unless

registered under the U.S. Securities Act and applicable state securities laws of an exemption from

such registration is available.

Forward-Looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian

securities legislation. Generally, forward-looking information can be identified by the use of forward-

looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget",

"scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes",

or variations of such words and phrases or state that certain acts, events or results "may", "could",

"would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information in this

press release may include, without limitation, statement and information regarding closing of the

Transaction and the future operating or financial performance of Bald Eagle.

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 Bald Eagle, as

the case may be, to be materially different from those expressed or implied by such forward-looking

information. Although Bald Eagle 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. There can be no

assurance that such information will prove to be accurate, as actual results and future events could

differ materially from those anticipated in such statements. Accordingly, readers should not place

undue reliance on forward-looking information. Bald Eagle does not undertake to update any

forward-looking information, except in accordance with applicable securities laws.

Cautionary Notes

*This news release contains information about adjacent properties on which Bald Eagle has no right

to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not

indicative of mineral deposits on the Company's properties.

SOURCE Bald Eagle Gold Corp.

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/November2021/16/c4037.html

%SEDAR: 00045528E

For further information: Raymond D. Harari, President & Director, Telephone +(507) 6675-2221,

Email: [email protected]

CO: Bald Eagle Gold Corp.

CNW 07:00e 16-NOV-21

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