Exploits Announces Acquisition of the Katie GOLD and VMS Project Through Land Release Staking and Consolidates Great Bend Project
EXPLOITS ANNOUNCES ACQUISITION OF THE KATIE GOLD AND VMS PROJECT
THROUGH LAND RELEASE STAKING AND CONSOLIDATES GREAT BEND PROJECT
Vancouver, British Columbia - November 27th , 2020 - Exploits Discovery Corp. (“Exploits” or the
“Company”) (CSE: NFLD) (FSE: 634 -FF) announces that it has secured title to the 2 6 square
kilometre Katie Project which lies within the Company’s Great Bend Project in the Exploits
Subzone Gold Belt, Newfoundland.
The Katie Project has significant gold and Volcanogenic Massive Sulfide (VMS) targets hosted in
the Huxter Pond Volcanic Belt which terminate s both the Appleton Fault and the Dog Bay Line.
The structural discontinuity that these intersections create present exploration targets that have
not been previously considered in the Exploits Subzone Gold Belt.
Project Highlights
• Epithermal gold targets include Mystery Lake , MacDonald, and Bruce Pond zones with
historic grab samples up to 16.7 g/t Au and drill res ults of 2.52 and 1.85 g/t Au over 0.5
and 1.0 metres respectively.
• VMS targets includes the Black Bart Zone with channel samples up to 10.7% Zn, 0.38% Pb,
0.196% Cu, 33.4ppm Ag, 1.13ppm Au over 1.26m and drill results up to >10% Zn, 1.7% Pb,
61ppm Cu, 74.7ppm Ag and 150ppb Au over 0.05 metres (BHP, 1993. Altius, 2016).
• The Katie Project overlies an integral part of the southern Dog Bay Line, Appleton, and
Joe Batts Pond ( JBP) Fault Zones, providing a new structural thesis for the deposition of
gold in this area.
• The Company intends to use it’s understanding of structural mapping, SGH soil sampling,
and Versatile Time Domain Electromagnetics (VTEM) geophysical surveys, combined with
Goldspot’s artificial intelligence targeting algorithms to explore the Katie Project, and the
encompassing Great Bend Project for gold and VMS deposits.
CEO and President Michael Collins comments, “We are pleased to have been able to secure the
Katie Project in a competitive staking environment. The Katie Project holds some great gold
targets but also is a critical piece in understanding mineralizing systems in the Great Bend Project
and adds more strength to our extensive claim package in the Exploits Subzone.”
Since the acquisition of the Project, Exploits’ geologists and prospectors spent 2 days conducting
an initial site visit to review and take initial samples to confirm the grade and tenor of these
mineral showings. Several historic trenches were located and sampled along with newly
prospected showings. Samples that were collected have been sent to Easte rn Analytical Ltd. for
assay and results are expected in mid-December.
Figure 1: Geology map of Exploits’100% owned Great Bend Gold Project with the newly staked Katie
Project, highlighted by red cross hatches.
Katie Project Geology
The Katie Project is situated in the Exploits Subzone, within the Dunnage Zone. The Dunnage Zone
is a Paleozoic mobile belt consisting of ophiolitic and island arc volcanic and associated
sedimentary rocks and hosts the majority of the most important mineral deposits in
Newfoundland, including the Buchans and Duck Pond/Tally Pond VMS deposits.
The Project is underlain by two units of the North Steady Pond Formation, Baie d’Espoir Group
of Middle Ordovician age. Inter-bedded felsic to intermediate flows and weakly laminated crystal
tuff underlie most of the property and host the mineral prospects. Sediment consisting of
sandstone, siltstone and minor conglomerate are mapped to the north of the Project and along
the southeast margin. The Cambro -Ordovician Coy Pond ophiol itic rocks consist of mafic flows
and gabbro and are in fault contact with the Baie d’Espoir Group along the west margin of the
project area and are intruded by the Partridgeberry Hills Granite further west (Coleman -Sadd,
1985).
In the area of the Main Kat ie Showing a large area of strong quartz sericite alteration occurs in
the felsic volcanic s, sediments and leucogranite. Within this alteration zone four styles of
mineralization were observed. Sphalerite -rich veins were seen in most strongly altered
lithologies, namely strongly silicified and sericitized tuffs, sediments and silicified chloritized
leucogranite (Figures 2 and 3). These assayed up to up to 23.9% Zn, 3.26% Pb, 0.27% Cu, 279ppm
Ag, and 2.45ppm Au. In silicified and sericitized siltstone parall el sets of 1 -10mm quartz -
pyrrhotite-galena-sphalerite veins assay up to 3.78% Zn, 7.63% Pb, 0.109% Cu 159ppm Ag,
0.386ppm Au. Gold mineralization in silica flooded quartz sericite altered quartz eye tuff reaches
grades of 1.12ppm Au. Veins and disseminations of pyrrhotite and pyrite were seen in all sericite-
quartz altered felsic volcanics (Altius, 2016). Epithermal style quartz veining has been observed
at the project as well, with typical chalcedonic quartz and vuggy textures. These quartz veins have
been found to exist within and outside of the main VMS target zones.
Structurally, the Katie Project overlies the interpreted southern end of the highly prospective ,
NNE-SSW trending Appleton and Dog Bay Line Fault Zones, where they are truncated by the NW-
SE trending Huxter Pond Volcanics of the Baie d’Espoir Group. Known mineralization falls within
the area of structural complexity and f urther understanding of the structural model is ongoing ,
which will drive exploration on the Project.
Figure 2: Massive sulfide containing sphalerite (Sp), galena (Gn), chalcopyrite
(Cp), and pyrite (Py) from historical trenching at the Black Bart prospect.
National Instrument 43-101 disclosure
Ian Herbranson, PGeo, is Vice-President of Exploration for the Companyand a qualified person as
defined by National Instrument 43 -101. Mr. Herbranson reviewed and approved the technical
information in this news release.
About Exploits Discovery Corp.
Exploits Discovery is a Canadian mineral exploration company focused on the acquisition and
development of mineral projects in Newfoundland, Canada. The Company currently holds the
Middle Ridge, True Grit, Great Bend, Mt. Peyton, Jonathan's Pond, Gazeebow and Dog Bay
projects which cumulatively cover an area of approximately 2,100 square kilometres.
All projects within Exploits portfolio lie within the Exploits Subzone.
Exploits believes that the Exploits subzone, which runs 200 km from Dog Bay southwest to
Bay d'Espoir, has been neglected since the last major exploration campaigns in the 1980s. The
last 40 years have seen incremental advancements in the understanding of gold mineralization
in the camp. The sum of this knowledge is now coming together in discrete and effective
exploration models that have delivered discovery such as New Found Gold's 2019 discovery of
92.86 g/t Au over 19.0 metres near surface. The Exploits Subzone and GRUB regions have been
the focus of major staking and financing throughout 2020, with increased exploration activities
forecasted in the area moving into 2021.
Figure 3: Remobilized massive sulfide in deformed felsic volcanic rocks from
historical trenching at the Black Bart prospect.
The team at Exploits, with significant local experience and knowledge, have studied the entirety
of the Exploits subzone and picked individual land packages for staking or joint venture where
there is an opportunity for world class discoveries and m ine development. Exploits intends to
leverage its local team and the larger shift in understanding and become one of the most
extensive explorers in the Exploits subzone.
ON BEHALF OF THE BOARD
/s/ "Michael Collins "
President and CEO
For further information, please contact:
Michael Collins, CEO
Tel: (604) 681-3170
Neither the Canadian Securities Exchange nor its Regulation Service Provider (as the term is defined in the
policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of accuracy of this news
release.
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance
and reflect management's current expectation s and assumptions. Such forward -looking statements
reflect management's current beliefs and are based on assumptions made by and information currently available to
the Company. Readers are cautioned that these forward -looking statements are neither promise s nor guarantees,
and are subject to risks and uncertainties that may cause future results to differ materially from those expected
including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration
and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in
obtaining governmental approvals and permits, and other risks in the mining industry. All the forward -looking
statements made in this news rele ase are qualified by these cautionary statements and those in our continuous
disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date
hereof and the Company doe s not assume any obligation to update or revise them to reflect new events or
circumstances save as required by applicable law.