EFF.V · 2021-07-28 12:00:00

1844 Announces LAC Arsenault Update

Corporate Updates

For Immediate Release

1844 ANNOUNCES LAC ARSENAULT UPDATE

SASKATOON, Saskatchewan, July 28 , 2021 (GLOBE NEWSWIRE) -- 1844 RESOURCES INC.

(TSX-V:EFF) (the “Company” or “1844”) announces that its 2021 drilling campaign on the Lac

Arsenault Gold Project has significantly increased the geological underdstanding of the

mineralization and the geological context of the area. The campaign which was located in the

central part of the property and on 2 known gold corridors (see Figure 1).

Fact:

• The gold mineralized zones develop along discontinuous deformation corridors, faulted

and NNE-trending;

• Deformation corridors are composed of brittle -ductile shear zones, accompanied by

tectonic breccia, shear veins, veins folded in tension and zones in stockwork;

• Ground geophysics, IP survey, allow the deformation corridors to be well targeted and

support the interpretation of the lateral displacements of the NW-SE Riedel-type faults;

• More than 20 lineaments or faults interpreted as possible NNE deformation corridors are

identified via the high-resolution magnetic survey.

Sylvain Laberge, President and CEO of 1844 comments “We are very pleased with the results

on this initial drilling program at Lac Arsenault. The basic data collected through the various

exploration techniques around the known Lac Arsenault showings combined with recent drilling

give another dimension and understanding to the project. With as many as 20 additional north

by northeast lineaments yet to be explored, we are excited to continue developing this asset on

the Gaspe Peninsula "

Drilling has intersected gold-silver-lead-zinc (“Au-Ag-Pb-Zn”) mineralized zones in holes LA-21-

01, LA-21-02. LA-21-03 and LA -21-08. A total of eleven (11) holes totaling 1952 meters were

completed during the campaign. All analytical results from the 408 samples sent to the LA -21-

01 through LA-21-11 laboratory have all been received.

Press-release 20-12

Table 1: Best survey results (Figure 2 Section view 2021 drilling).

Nº

drilling

From

(m)*

Length

(m) *

Nº

Sample

(ppm)

Au-

ICP22

(g/t)

Host

rock Structure Type

Veine

LA-21-01 30.9 31.5 0.6 X340153 0.32 15.7 45 0.43 *2 Tectonic

breccia T3

LA-21-02 106.0 106.2 0.2 X340170 0.44 48 90 0.1 *4 Shear

LA-21-02 107.2 107.3 0.1 X340172 13.65 2140 92 5.84 *4 Shear T1

LA-21-02 107.3 108.0 0.7 X340174 0.71 19.2 92 0.13 *4

LA-21-02 111.5 111.8 0.27 X340177 1.03 1460 39 1.19 *1 T3

LA-21-02 123.9 124.2 0.25 X340181 1.11 133 8 2.92 *4 T3

LA-21-02 124.2 124.5 0.35 X340182 0.23 12 69 0.1 *2 Tectonic

breccia

LA-21-03 34.4 34.7 0.3 X340188 8.91 5140 3010 3.23 *3 Shear

LA-21-03 34.7 35.8 1.1 X340190 2.63 175 4410 2.23 *3 T2

LA-21-03 94.0 94.1 0.1 X340202 0.26 12.3 64 0.11 *3 Tectonic

breccia

LA-21-08 138.9 139.1 0.17 X340442 1.39 39 73 2.02 *3 Shear T1

*: Intervals reported in core length

*1: Sandstone

*2: Sandstone interbedded with mudrock

*3: Sandstone interbedded with siltstone

*4: Mudrock

Table 2: Coordinates of drill holes LA-21-01 to LA-21-11

Nº

drilling Easting* Northing* Azimut Dip Length

(m)

LA-21-01 334593 5360864 116 -46 78

LA-21-02 334551 5360887 118 -46 150

LA-21-03 334552 5360794 125 -45 123

LA-21-04 334508 5360837 129 -44 143

LA-21-05 334818 5360906 300 -45 96

LA-21-06 334823 5360676 126 -45 165

LA-21-07 334777 5360709 126 -45 252

LA-21-08 334840 5360896 310 -65 261

LA-21-09 334782 5360541 304 -45 138

LA-21-10 335380 5360773 300 -52 225

LA-21-11 335398 5360771 308 -66 321

*NAD83Zone20 Total 1952 m

Several structures intersected in drilling have demonstrated strong potential for the presence of

gold mineralization. Large pluri -metric corridors showing significant shears accompanied by

tectonic breccias, all in the presence of distinct generation of v eins and venules in shear

structure, tension and stockwork were sampled and were all accompanied by sulphide

percentages varying from trace to 15% consisting mainly of pyrite which was disseminated and

in small clusters within the fractured sedimentary uni ts and on the shear planes. (link: Figure 3

Drilling 2021_List of drill core samples analyzed in association with the observed structure).

Quality control

The supervision of drilling work and the interpretation of results are carried out by qualified

persons applying a quality assurance and quality control program in accordance with best

industry practices, including the use of standards, duplicates and blan ks for every 10 samples.

Project rock samples are analyzed for gold by standard fire assay on a 50 gram fraction with

inductively coupled plasma atomic emission spectroscopy (ICP -AES; Au-ICP22) or gravimetric

finish (Au- GRA22) at ALS Minerals laboratories in Vancouver, British Columbia.

All samples are also analyzed for several elements by the very low grade assessment method

using ICP-MS and ICP-AES (ME-MS41) at ALS Minerals laboratories in Vancouver, BC and / or

Val-d 'Gold in Quebec. Samples with a silv er, copper, zinc or lead content exceeding 1% are

reanalyzed by the ICP-AES method with four acids optimized for high contents.

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 containe d in this news

release.

1844 RESOURCES INC.

(signed) “Sylvain Laberge”

Sylvain Laberge

President and CEO

514.702.9841

Slaberge@1844 resources.com

FORWARD LOOKING INFORMATION

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

information within t he 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.

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LA-21-11

LA-21-10

LA-21-09

LA-21-08

LA-21-07

LA-21-06

LA-21-04

LA-21-03

LA-21-02

LA-21-01

LA-21-05

L4W

DONAT

MARLEAU

MERSEREAU NORD

MERSEREAU

BAKER

BAKER SUD 2

PROJET - PROJECT

LAC ARSENAULT

PROJET - PROJECT

LAC ARSENAULT ´

ðêðê

QuébecQuébec

132

Murdochville

Gaspé

Percé

ChandlerNew Richmond

299

Gulf of St-Lawrence /

Golfe du St-Laurent

Matane

Amqui

Matagami

Sainte-Anne-

des-Monts

PROJET - PROJECT

LAC ARSENAULT

Syst. georef.: UTM NAD83 Zone 20

SNRC 22A06

ZONES DE CISAILLEMENT, FORAGES et PP

SHEAR ZONE, DRILLING and IP

0 40 80 m

!( Forage 2021 / Drilling 2021

Faille de type Riedel/ Fault NW-SE Riedel type

Interprétation des couloirs de déformation sénestre,

discontinu et faillé / Interpretation of senestral,

discontinuous and faulted deformation corridors

Cisaillement ou brèche tectonique

cartographié ou projeté en plan à partir de forage /

Shear or Tectonic breccia mapped or projected in

plan from a drill hole

Forage 2005 / Drilling 2005

1976-1985 Forage historique / Historical Drilling

BAKER SUD 1

Chargeabilité, profondeur 65 m

Chargeability at depths of 65 m

Plan View

1844 SHEAR Outcrop

TYPE

Shear

Fault Fault

Channel Channel

Veine QTZ Veine QTZ

Shear-2 Shear-2

Representative grab-samples

Type 1

Type 2

Type 3

Type 4

5360863N SECTION

SCALE

-5 0 5 10 15 20

(m)

*unknown

AZIMUTH = 128°

TOLERANCE +/- 25 m

SECTION TOP, BOT 413.2 m 281.2 m

EXTENTS 205 m 132 m

REF. PT. E, N 334590 m 5360863 m

SECTION SPECS:

HOLES PLOTTED

TOTAL 2

LA-21-01 LA-21-02

Nº_Sample L ------- All

Code structure R ------- All

POSTED TEXT L/R TEXT ITEMS

Au-ICP22 (g/t) R -------

ASSAYS L/R TEXT

T1Type veine

ROCK CODES PAT LABEL

FULL_DEM_LacArsenault.GRD

TOPOGRAPHY

334520 E 334520 E

334540 E 334540 E

334560 E 334560 E

334580 E 334580 E

334600 E 334600 E

334620 E 334620 E

334640 E 334640 E

334660 E 334660 E

300 RL 300 RL

320 RL 320 RL

340 RL 340 RL

360 RL 360 RL

380 RL 380 RL

400 RL 400 RL

5360800 N 5360800 N

5360820 N 5360820 N

5360840 N 5360840 N

5360860 N 5360860 N

5360880 N 5360880 N

5360900 N 5360900 N

5360920 N 5360920 N

300 RL300 RL

320 RL320 RL

340 RL340 RL

360 RL360 RL

380 RL380 RL

400 RL400 RL

0.43

0.10

5.84 0.13

1.19

2.92 0.10

X340151

X340152 X340153

X340154

X340155 X340156

X340157

X340158 X340160

X340159

X340161

X340162

X340163

X340164

X340165 X340166

X340167 X340168

X340169

X340170

X340171

X340172

X340173

X340174 X340175

X340176

X340177

X340178

X340179

X340180 X340181

X340182 X340183

X340184

X340185

X340186

LA-21-01

78 m

LA-21-02

150 m

334520 E

334540 E

334560 E

334580 E

334600 E

334620 E

334640 E

334660 E

5360800 N

5360820 N

5360840 N

5360860 N

5360880 N

5360900 N

5360920 N

LA-21-01

78 m

LA-21-02

150 m

1.54 g/t Au

Section View

Shear

Tectonic breccia

Plan View

Axe polarizables priority 1

1844 SHEAR Outcrop

TYPE

Shear

Fault Fault

Channel Channel

Veine QTZ Veine QTZ

Shear-2 Shear-2

Representative grab-samples

Type 1

Type 2

Type 3

Type 4

Section View

Tectonic breccia

Shear

5360790N SECTION

SCALE

-5 0 5 10 15 20

(m)

*unknown

AZIMUTH = 128°

TOLERANCE +/- 25 m

SECTION TOP, BOT 393.2 m 261.2 m

EXTENTS 205 m 132 m

REF. PT. E, N 334560 m 5360790 m

SECTION SPECS:

HOLES PLOTTED

TOTAL 3

L4W-R1 LA-21-03 LA-21-04

Nº_Sample L ------- All

Code structure R ------- All

POSTED TEXT L/R TEXT ITEMS

Au-ICP22 (g/t) R -------

ASSAYS L/R TEXT

T1Type veine

ROCK CODES PAT LABEL

FULL_DEM_LacArsenault.GRD

TOPOGRAPHY

334480 E 334480 E

334500 E 334500 E

334520 E 334520 E

334540 E 334540 E

334560 E 334560 E

334580 E 334580 E

334600 E 334600 E

334620 E 334620 E

334640 E 334640 E

280 RL 280 RL

300 RL 300 RL

320 RL 320 RL

340 RL 340 RL

360 RL 360 RL

380 RL 380 RL

5360740 N 5360740 N

5360760 N 5360760 N

5360780 N 5360780 N

5360800 N 5360800 N

5360820 N 5360820 N

5360840 N 5360840 N

280 RL280 RL

300 RL300 RL

320 RL320 RL

340 RL340 RL

360 RL360 RL

380 RL380 RL

L4W-R1

0.5 m

LA-21-03

123 m

LA-21-04

142.7 m

3.23

2.23

0.11

X340187

X340188

X340190

X340189 X340191

X340192

X340193

X340194

X340195

X340196

X340197

X340198

X340199

X340200

X340201

X340202 X340203

X340204 X340205

X340206

X340207 X340208

X340209

X340210 X340211

X340212

X340213

X340214

X340215 X340216

X340217

X340218 X340219

X340220

X340221 X340222

X340223

X340224

X340226

X340225 X340227

X340228

X340229

X340230 X340231

X340232

X340233

X340234 X340235

X340236 X340237

X340238

X340239

7.59 g/t Au, 176 g/t Ag, 8.15 % Pb, 2.11 % Zn

5.02 g/t Au, 51.4 g/t Ag, 2.08 % Pb et 6.03 % Zn

12.4 g/t Au, 80.2 g/t Ag, 6.16 % Pb et 7.03 % Zn

9.81 g/t Au, 84.3 g/t Ag, 4.43 % Pb et 2.49 % Zn

13.5 g/t Au, 84 g/t Ag, 2.71 % Pb et 1.79 % Zn sur 0.75 m

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