Stone Gold Inc.: Positive Results from Surface Exploration and Drone Magnetics Confirm Gold Targets on Mt. Jamie North
Stone Gold Inc.:
Positive Results from Surface Exploration and Drone Magnetics Confirm
Gold Targets on Mt. Jamie North
Toronto, Ontario – October 20, 2020 – Stone Gold Inc. (formerly CR Capital Corp.) (TSX-V /
STG) (“Stone Gold” or the “Company”) is pleased to announce this exploration update from its
recently optioned 445-hectare Mt. Jamie North Property (the “Property”). On June 25, 2020, the
Company announced that exploration was commencing on Property with the hiring of Tim
Twomey, P. Geo as consulting geologist. The initial program consisted of prospecting and
sampling of the Property.
Mr. Twomey, a renowned geoscientist, has more than 35 years of exploration, production and
management expertise, with a major portion of his career in the Red Lake gold mining camp. Tim
played a key role in the discovery, development and production of the High-Grade Zone at the Red
Lake Gold Mine now owned by Evolution Mining Ltd. Tim has been and continues to be the go-
to guy to review on the ground of many of the Red Lake exploration projects over his career.
The Company has completed an initial field geological examination, including an outcrop and
trench sampling program. Gold assay results are shown in the compilation map below. The
highest assay was from a grab sample of a 10 cm wide quartz vein that returned 5.6 grams per
tonne (gpt) gold, and appears to be within the same stratigraphic package as the neighbouring
Mount Jamie and Rowan Mines, as shown in Map 1.
Map 1 Location of Mt. Jamie North relative to nearby gold mines and drilling, on regional geology
A drone magnetic geophysical survey was completed, which covered the interpreted favourable
west-northwest geological trends over the Property. This survey has outlined areas of magnetic
folding, offsets and washout. These magnetic complexities have aided in ranking areas of follow-
up (see compilation map below).
Map 2: Compilation of magnetic map of 2nd Vertical Derivative, with interpretation.
A lithogeochemical sampling program is presently being conducted on the Property to investigate
high priority targets, areas of magnetic interest and previous assay results.
The west end of the Red Lake greenstone belt had been considered to be less prospective with the
absence Balmer volcanics, however high-grade gold results from West Red Lake Gold Mines from
the Rowan Property and Trillium Gold Mines on the Newman has demonstrated that the west end
is highly prospective.
Brian Howlett, President & CEO, stated, “We are very pleased with how our stepwise approach
from property acquisition to data collection and targeting has proceeded and we expect that we
will soon have enough vectoring information to be able to target any mineralized extension from
the adjacent Mt Jamie Mine onto the Property”.
The information in this press release has been reviewed and approved by Tim Twomey, P. Geo.,
and a Qualified Person for the technical information under NI 43-101 – Standards of Disclosure
for Mineral Projects . Assay results from 19 rock samples and QA/QC sample were sent to
Activation Laboratories, an ISO accredited mineral analysis laboratory in Thunder Bay, Ontario,
for preparation and analysis for gold utilizing fire assay, gravimetric and AA methods.
For further information, please contact:
Mr. Brian Howlett, CPA, CMA
President & CEO
Stone Gold Inc.
Cell: 647-227-3035
Stone Gold Inc. is engaged in the acquisition, exploration and evaluation of properties for the
mining of precious and base metals.
Caution Regarding Forward-Looking Information
This news release contains forward-looking information that involves substantial known and
unknown risks and uncertainties, most of which are beyond the control of Stone Gold. Forward-
looking statements include estimates and statements that describe Stone Gold's future plans,
objectives or goals, including words to the effect that Stone Gold or its management expects a
stated condition or result to occur. Forward-looking statements may be identified by such terms as
"believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since
forward-looking statements are based on assumptions and address future events and conditions,
by their very nature they involve inherent risks and uncertainties. Although these statements are
based on information currently available to Stone Gold, Stone Gold provides no assurance that
actual results will meet management's expectations. Risks, uncertainties and other factors involved
with forward-looking information could cause actual events, results, performance, prospects and
opportunities to differ materially from those expressed or implied by such forward-looking
information. Forward looking information in this news release includes, but is not limited to, Stone
Gold's objectives, goals or future plans, statements, details of the exploration results, potential
mineralization, Stone Gold's portfolio, treasury, management team and enhanced capital markets
profile, the timing of the Transaction, the estimation of mineral resources, exploration and mine
development plans, timing of the commencement of operations and estimates of market conditions.
Factors that could cause actual results to differ materially from such forward-looking information
include, but are not limited to, failure or inability to complete the Transaction on the terms as
announced or at all, regulatory approval processes, failure to identify mineral resources, delays in
obtaining or failures to obtain required governmental, regulatory, environmental or other project
approvals, political risks, inability to fulfill the duty to accommodate First Nations and other
indigenous peoples, uncertainties relating to the availability and costs of financing needed in the
future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity
prices, delays in the development of projects, capital and operating costs varying significantly from
estimates and the other risks involved in the mineral exploration and development industry, and
those risks set out in Stone Gold's public documents filed on SEDAR. Although Stone Gold
believes that the assumptions and factors used in preparing the forward-looking information in this
news release are reasonable, undue reliance should not be placed on such information, which only
applies as of the date of this news release, and no assurance can be given that such events will
occur in the disclosed time frames or at all. Stone Gold disclaims any intention or obligation to
update or revise any forward-looking information, whether as a result of new information, future
events or otherwise, other than as required by law.
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