1844 Acquires The Lac Crystal Property in The Gaspé Peninsula With Grab Sample Up to 43.8% Cu

1844 Acquires The Lac Crystal Property in The Gaspé Peninsula With Grab

Sample Up to 43.8% Cu

SASKATOON, Saskatchewan, Sept. 09, 2021 (GLOBE NEWSWIRE) -- 1844 RESOURCES INC. (TSX-V:EFF) (the

“Company” or “1844”) announces that it has entered into a purchase agreement (the " Agreement ") to acquire a 100%

undivided interest in 12 claims in the Northern portion of the Gaspé Peninsula from Mr. Daniel Lepage and Mr. Eric Bariault

(each a “Vendor”), both residents of the Gaspe Peninsula.        

The project is situated 15km south-south east of the Municipality of Marsoui on the Gaspe Peninsula. The Lac Crystal Project

was initially comprised of 12 claims, but 1844 has also acquired an additional 32 claims surrounding the Project.

The Crystal Lake showing, discovered in 1989 was the subject of several prospecting campaigns between 1990 and 1995.

These included the completion of trenches, mapping, helicopter and ground geophysical work, soil geochemistry work and the

addition of five targeted boreholes. Historical data shows NNO lineaments (N340 °), associated with shear zones accompanied

by burrings and fracture filling by the late injection of quartz-carbonate-chalcopyrite, bornite-chalcosine as well as supergene

development of malachite and azurite. The host rock to the mineralization consists of argillite and slate, an inter-ity of locally

calcareous and dolomitic clay sandstone all cut by intrusives made up of rhyodacitic and monzonitic dykes having random

directions between N210°- N270°.

The type of mineralization indicated that the Crystal Lake showing was formed at low temperature, upon cooling of

hydrothermal fluids containing copper in solution that migrated, used the N340 shear as a conduit and precipitate.

The compilation of high-resolution aeromagnetic surveys carried out by the Ministry of Energy and Natural Resources of

Quebec, indicates the presence of magnetic anomaly and the potential presence of a pluton and/or dyke swarms at depth that

may be at the origin of copper hydrothermal fluids.

A review and compilation of all this data indicates the potential of a porphyry or skarn/mantos style copper system in the

vicinity of Petit Lac Crystal and adjacent to the pluton at depth. The mineralization is located at the heart of the N340 trending

shear, refracted within sediments and intrusives, and occurs as masses of copper sulphides filling the fractures. Several grab

samples, selected over the years, exhibited copper values, ranging from a simple copper anomaly to values over 43.8% Cu.

(Table 1 and Figure 1)

Table 1: Several grab samples with cooper values  

Sample nber Trench nber Cu % As ppm Ni ppm Ag ppm Rock Type Source

90-T2-100-075 90-T-2 43.8 na 49 9.7 Dyke rhyodacitique GM53210

90-T2-100-87 90-T-2 2.81 na 64 1.5 Dyke monzonitique GM53210

90-T2-100-101

A 90-T-2 18.6 na 64 4 Dyke rhyodacitique GM53210

90-T2-100-118 90-T-2 9.23 na 22 2 Argilite silteuse GM53210

92-T1-02 92-T-1 3.15 59 261 1.1 Argilite silteuse GM53255

92-T1-06 92-T-1 3.93 27 166 1.4 Argilite silteuse GM53255

92-T1-07 92-T-1 4.27 50 178 1.5 Argilite silteuse GM53255

92-T1-08 92-T-1 0.62 6730 69 1.5 Dyke rhyodacitique GM53255

92-T-01-V-01 92-T-1 28.87 na na 2.1 Dyke rhyodacitique GM53255

92-T-01-V-02 92-T-1 27.26 na na 22.8 Dyke rhyodacitique GM53255

92-T-01-V-03 92-T-1 28.8 241 269 9.9 Dyke rhyodacitique GM53255

92-T-01-V-04 92-T-1 33.8 4560 4731 13.5 Dyke rhyodacitique GM53255

92-T-01-V-05 92-T-1 7.1 243 262 2.8 Dyke rhyodacitique GM53255

92-T-01-V-06 92-T-1 7.91 190 220 2.3 Dyke rhyodacitique GM53255

92-T1-10 92-T-1 0.1 70 384 0.8 Argilite silteuse GM53255

92-T1-12 92-T-1 8.11 51 159 2.6 Dyke rhyodacitique GM53255

92-T1-13 92-T-1 2.42 74 333 1.1 Argilite silteuse GM53255

92-T1-15 92-T-1 4.53 151 231 2.9 Argilite silteuse GM53255

92-T1-19 92-T-1 9.48 24 68 2 Argilite silteuse GM53255

92-T1-20 92-T-1 23.9 246 62 9 Argilite silteuse GM53255

92-T1-21 92-T-1 14.08 103 160 5.6 Argilite silteuse GM53255

92-T1-23 92-T-1 3.04 43 135 1.2 Argilite silteuse GM53255

92-T1-24 92-T-1 0.19 360 6 0.6 Dyke monzonitique GM53255

Lac Crystal Historical Data and Geophysic

92-T1-25 92-T-1 11.57 135 178 3 Dyke monzonitique GM53255

92-T1-26 92-T-1 7.18 132 54 3.9 Argilite silteuse GM53255

92-T1-27 92-T-1 3.29 24 121 < 0.1 Dyke monzonitique GM53255

92-T1-dm 92-T-1 3.19 31 36 0.2 Dyke monzonitique GM53255

92-T6-02 92-T-A 0.11 51 206 0.9 Dyke monzonitique GM53255

92-TA-02 92-T-A 0.11 79 na 0.7 Argilite silteuse GM53255

92-TA-09 92-T-A 0.31 61 na 0.3 Dyke monzonitique GM53255

92-TA-10 92-T-A 0.38 95 na 0.4 Dyke monzonitique GM53255

no sample* 90-T-1 na na na na Argilite silteuse GM53255

*: With chalcopyrite observed in micro-fractures with the presence of malachite and azurite. (Source:

GM53255)

As consideration for the Acquisition, 1844 agreed to issue 975,000 common shares in the name of the Vendor Daniel Lepage

as well as a 2% net smelter returns royalty, 1% of which may be retired for a one-time payment of $500,000. The common

shares will be distributed to Mr. Daniel Lepage will be distributed over 3 years as follows:

• 350,000 upon transfer of the properties,

• 325,000 on the first anniversary, and

• 300,000 on the second anniversary.

Additionally, 50,000 shares of 1844 Resources will be issued to Vendor Eric Bariault on the transfer of the Property.

About 1844 Resources Inc.: 1844 is an exploration company with a focus in strategic and energetic metals and

underexplored regions “Gaspé, Chibougamau Québec”. With a dedicated management team, the Company’s goal is to create

shareholder value through the discovery of new deposits.

Bernard-Olivier Martel, P. Geo, the Company's Director of Exploration, is a qualified person (as such term is defined in

National Instrument 43-101 - Standards of Disclosure for Mineral Projects ) and has reviewed and approved the technical

disclosure contained in this news release.

1844 RESOURCES INC.

(signed) “Sylvain Laberge”                

Sylvain Laberge

President and CEO

514.702.9841

Slaberge@1844 resources.com

Some of the statements contained in this press release are forward-looking statements and information within the meaning of

applicable securities laws. Forward-looking statements and information can be identified by the use of words such as

“expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain

actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking

statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the

Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or

implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue

reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any

forward-looking statements, except as may be required by law.

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX

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

A photo accompanying this announcement is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/a9c5491f-2a51-4139-8512-deb6f1d30d61

Lac Crystal Historical Data and Geophysic