Galore Receives Permits FOR 4000 Meters, Mobilizes Diamond Core Rig and Provides Update ON OTCQB Listing
GRI: TSX-V
Mailing Address: 2701 Little Elm Parkway, Suite 100 #512 | Little Elm, Texas, USA | 75068
Tel: (210) 860-9212 | Fax: (604) 648-8894 | www.galoreresources.com
FOR IMMEDIATE RELEASE January 19, 2022
GALORE RECEIVES PERMITS FOR 4000 METERS,
MOBILIZES DIAMOND CORE RIG and PROVIDES UPDATE ON OTCQB LISTING
Vancouver, B.C., Galore Resources Inc. (TSX-V: GRI) is pleased to announce it has received
acceptance for its Drill Permit applications and mobilized its crews to begin a 4,000 -meter
diamond drill program on its 100%-owned Dos Santos property in Zacatecas State, Mexico. The
program will test various locat ions in Galore's El Alamo and San Jose prospects, both of which
have been explored in the past and now are providing important and valuable information that
augments the results of many months of field work performed by Galore's geological staff. The
following is Dr. Julio Pinto Linares's summary of what Galore expects to achieve with the drill
program.
“The drilling program for the El Alamo is the continuation of the 2019 program (see NR on March
3, 2021), completing 1,667 meters in five drill holes. This will help the delineation of
mineralization, halos of hydrothermal alteration and meteoric enrichmen t, which has been
identified on the surface and cut with the mentioned drilling program (i.e., hydroxide bodies,
tectonic-hydrothermal breccias, as well as phyllic and local calc-silicate halos). The major targets
are evidence of a hydrothermal system. Th e El Alamo mineralized structure is made up of
hydroxides with a halo of hydrothermal alteration on the edges, presumably linked to magmatic
fluids. The scope of the El Alamo exploration program will be to survey for the lateral continuity
of a mineralized large system with an east -west strike and hosted in a carbonate marine
sedimentary sequence from the Cretaceous period, as well as the review and understanding of
alteration footprint and mineralization at depth.”
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Mailing Address: 2701 Little Elm Parkway, Suite 100 #512 | Little Elm, Texas, USA | 75068
Tel: (210) 860-9212 | Fax: (604) 648-8894 | www.galoreresources.com
Dr. Julio Pinto Linares further states, “A 1500-meter drilling program has been vectorized for the
San José area, which includes new diamond drilling holes, distributed in seven locations,
supported by evidence of mineralization, metasomaticism and results of chemical analysis, which
have demonstrated significant values and anomalies of gold, arsenic, and barium.”
El Alamo DDH program
DDH ID Este Norte masl Az Incl Length Goal description
EA 007 255,934 2,708,202 2,070 175 -50 600
Looking for intersect low level of the ephitermal
system. Looking for mineralizad structures dipping
to North
EA 008 255,518 2,707,979 2,173 200 -60 250 Seeking intersect new EW mineralizad Structures.
EA 009 255,518 2,707,979 2,173 160 -60 300 Seeking to intersect the mineralized EW normal
Fault, to increase identified resources.
EA 010 255,646 2,707,950 2,153 160 -60 250 Seeking to intersect the mineralized EW normal
Fault, to increase identified resources.
EA 011 255,975 2,707,923 2,182 160 -70 350
Seeking the lower levels of mineralization in the
East part of El Alamo, and continuity of
mineralized structures
EA 012 255,897 2,707,542 2,050 25 -60 500
Exploratory hole in the southern part of El Alamo
seeking to intersect the source of mineralization
and new mineralizad zones
EA 013 255,677 2,707,462 2,038 25 -70 300
Exploratory hole in the southern part of El Alamo
seeking to intersect the source of mineralization,
new mineralizad zones and non-exhumed
intrusive.
Total meters of the program 2550
EL ALAMO AREA
EA 007
EA 008 EA 009 EA 010 EA 004
EA 001
EA 011
EA 002 EA 005
EA 003
EA 012
EA 01
GRAPHIC SCALE
meters
0,0 5 0 1 0 0 20 0
Fig. 5. Maps showing drilling program for
El Alamo area and drilling program
summary, (in light blue, 2019 diamond
holes, in strong blue, proposed hole
loc).
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Mailing Address: 2701 Little Elm Parkway, Suite 100 #512 | Little Elm, Texas, USA | 75068
Tel: (210) 860-9212 | Fax: (604) 648-8894 | www.galoreresources.com
The Company would also like to update its United States shareholders on the progress of listing
on the OTCQB. The Company has completed all the necessary paperwork and paid all necessary
fees associated with the OTCQB application. It is now in the review phase with the OTC. We are
hopeful in gaining approval in a timely manner and to be trading once again in the United States.
We apologize for any inconvenience this interruption may have caused, but we are confident this
will be a positive outcome for our shareholders.
Galore Resources is poised for a very exciting year. We thank our stockholders for continuing to
support and believe in our mission. Management is optimistic for 2022 and the opportunities
that lie ahead.
For further information about Galore Resources, please visit the Company’s website at
www.galoreresources.com or contact:
Drew McMillan
CFO and VP Corporate Communications
Tel: (210)-325-7971 (USA)
Email: [email protected]
Dr. Julio Pinto Linares has a PhD in geological sciences with a specialty in economic geology and
qualified professional No. 01365 by MMSA and is the qualified person as defined by National
Instrument 43-101 responsible for the accuracy of the technical information contained in this
news release presented by Galore Resources Inc.
About Galore Resources
Galore Resources is a mineral exploration and development company whose focus is to make and develop
significant mineral discoveries, which are supported by a sustainable business model. Our goal is to
discover a world -class gold and silver deposit in Mexico. Our flagship project is in the heart of the
Concepcion del Oro Mining District, the Dos Santos Project. This project covers two historic gold zones
and has the potential to host bulk tonnage gold -silver deposits based on past drilling, trenching and a
recent airborne geophysical survey.
Neither the TSX Ve nture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD -LOOKING INFORMATION: This news release includes “forward -looking
statements” and “forward-looking information” within the meaning of Canadian securities legislation. All statements included in
this news release, other than statements of historical fact, are forward-looking statements. Forward-looking statements include
predictions, projections and forecasts and are often, but not always, identified by the use of words such as "anticipate", "believe",
"plan", "estimate", "expect", "potential", "target", "budget" and "intend" and sta tements that an event or result "may", "will",
"should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof.
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Mailing Address: 2701 Little Elm Parkway, Suite 100 #512 | Little Elm, Texas, USA | 75068
Tel: (210) 860-9212 | Fax: (604) 648-8894 | www.galoreresources.com
Forward-looking statements in this news release include, but are not limited to, statements with respect to the expectations of
management regarding the Company’s ability to conduct a drill program at its Mexican mineral properties and the timing thereof,
the prospective deposits, targets and mineralization at the properties and the anticipated r eceipt and timing of necessary
governmental or third party approvals and permits. This also includes statements with respect to the Company’s ability to obtain
a listing on the OTC.
Such forward-looking information reflects management’s current beliefs and is based on a number of estimates and assumptions
made by and information currently available to the Company that, while considered reasonable, are subject to known and
unknown risks, uncertainties, and other factors which may cause the actual results an d future events to differ materially from
those expressed or implied by such forward -looking information. Readers are cautioned that such forward -looking information
is neither a promise nor guarantee, and is subject to known and unknown risks and uncertai nties including, but not limited to,
delays in obtaining governmental or third party approvals and permits, actual results of exploration activities, unanticipate d
geologic formations, structures and characteristics, environmental risks, future prices of b ase and other metals, operating risks,
accidents, labor issues, and other risks in the mining industry as well as general business, economic, competitive, political and
social uncertainties, uncertain and volatile equity and capital markets and lack of ava ilable capital. There are no assurances that
the Company will obtain the necessary permits for and successfully complete the proposed technical and drill program at San
Javier as currently contemplated or at all. In addition, there is uncertainty about the spread of COVID-19 and variants of concern
and the impact they will have on the Company’s operations, supply chains, ability to access mineral properties, conduct due
diligence or procure equipment, contractors and other personnel on a timely basis or at all and economic activity in general. All
forward-looking information contained in this news release is qualified by these cautionary statements and those in our
continuous disclosure filings available on SEDAR at www.sedar.com. Accordingly, readers shoul d not place undue reliance on
forward-looking information. The Company disclaims any intention or obligation to update or revise any forward -looking
information, whether as a result of new information, future events or otherwise, except as required by law.