GRSL.V · 2019-07-30 12:00:00

Goldplay's First Drill Hole Intersects 204.6 g/t Gold at San Marcial

Drill Results

Goldplay's First Drill Hole Intersects 204.6 g/t

Gold at San Marcial

VANCOUVER

July 30, 2019

/CNW/ -

Goldplay Exploration Ltd. (TSXV: GPLY,

FRANKFURT

GPE, OTCQB: GLYXF) ("Goldplay" or the "Company")

is pleased to announce a high-grade gold

intersection from its first core drill hole at the San Marcial Project ("San Marcial"),

Sinaloa, Mexico

Drill highlights at the Faisanes target ("Faisanes") include:

Drill hole SM 19-01 intersected

1 m

@ 204.6 g/t Au, defining a new gold mineralized zone

close to surface, immediately adjacent to the western edge of the San Marcial NI 43-101

resource* ("resource area").

32 m

wide hydrothermal breccia hosting a series of high-grade Pb-Zn-Ag massive

sulphide veins.

Discovery of high-grade Au-Ag shallow mineralization beneath old workings.

Drilling at Faisanes is following up a recent surface channel sample that returned

56 m

@ 196 g/t Ag.

THE STRATEGY

Phase I drilling at Faisanes is currently testing the continuity and dip of a newly discovered

mineralized system identified by recent surface channel sampling. This system contains a wide, high-

grade Ag-Pb-Zn-Au mineralized zone, of which channel sample results returned up to

56 m

@ 196g/t

Ag including

15 m

@ 472 g/t Ag (

news release

21 February 2019

). The Company is actively focused

on surface and drilling exploration along the

600 m

long Faisanes zone (Figure 01), including

prospecting for discoveries of new high-grade Au-Ag zones.

Goldplay President and CEO

Marcio Fonseca

commented

"The high-grade gold-silver intercept

is highly significant as it supports the Company's goal of expanding the San Marcial resource. It is

the first time in approximately 10 years that any type of exploration work has been carried out on

the project. One year ago, our data indicated high-grade silver, lead and zinc at San Marcial.

Today, we have added high-grade gold. We are committed to continue systematic exploration and

drill programs at San Marcial".

DRILLING THE

NAVA

TARGET AS WELL

The

Nava

target ("Nava") is located 1.5 km west of the San Marcial resource area and

approximately 1 km west of the Faisanes discovery, where recent surface sampling reported

continuous gold mineralization and visible gold, notably:

24 m

@ 2.1 g/t Au including

5 m

@ 4.0 g/t Au

500 m

long gold mineralized zone has been defined at

Nava

. For further details, see

news release

10 July 2019

The Company is executing its San Marcial resource expansion strategy with its drill programs at

Faisanes and at

Nava

Figure 1: Drill Hole SM 19-01 Location at the Faisanes Target (CNW Group/Goldplay Exploration

Ltd)

GEOLOGY

Faisanes comprises an extension along-strike of the silver-lead-zinc mineralization defined in the

resource area. Gold-silver low sulphidation epithermal mineralization at Faisanes is hosted in

hydrothermal breccia and lapilli tuff intercalated with flow-banded dacite. The first drill results have

identified a

32 m

wide hydrothermal breccia zone hosting multiple intersections of high-grade Pb-Zn-

Ag mineralization. In addition to the breccia, a sulphide-rich lapilli tuff hosting a high-grade gold-silver

zone has been defined in a

interval within a larger

4 m

interval of the same rock type and

sulphide dissemination that returned much lower grades in the 0.1 to 0.2 g/t range.

The first drill hole (SM 19-01) was drilled 75 meters below surface, confirming mineralization

previously identified by trenching (Trench 01) and shallow old workings.

SM 19-01 discovered a new Ag-Pb-Zn breccia hosted mineralization close to the resource area as

well as the new Au-Ag zones. The following table summarizes the most significant drill assay results

(uncut, undiluted) from SM 19-01.

Table 1 Assay results from SM 19-01

Drill Hole

From (m)

To (m)

Sample

Length (m)

True

Thickness

(m)

Grade Au

(g/t)

Grade Ag

(g/t)

Grade

SM 19-01

46.65

47.4

0.75

0.6

0.01

248

0.17

0.08

47.4

51.4

53.0

Not

sampled

51.4

58.5

7.1

6.1

0.05

69.3

0.2

0.4

SM 19-01

67.5

105

37.5

32.5

0.01

0.6

0.2

including

86.3

89.1

2.8

2.4

0.01

New Discovery – High-Grade Au- Ag Disseminated Sulphide-Veinlets – Lapilli Tuff

SM 19-01

126

127

1.0

0.9

204.6

155

0.03

0.07

SM 19-01

136

138

2.0

1.7

0.03

0.3

0.6

165

177

12.0

10.4

0.01

0.2

0.4

All numbers are rounded. Mineralized zones are calculated allowing for maximum 2 m of internal waste, using cut-off grades of 0.1 g/t Au, 30 g/t Ag, 0.2% Pb and 0.2 % Zn to

define the broad, mineralized zone.

The hydrothermal breccia hosts a series of massive sulphide (galena-sphalerite) intersections in

veins/stockworks (Figure 02), trends NW to SE, and dips approximately 70 degrees. It hosts a high-

grade, massive base metal mineralization,

2.8 m

@ 59 % Pb and 4% Zn warrants testing of similar

surface targets identified within the exploration concession.

The high-grade gold results (Figure 03), have been followed up with detailed geological and

geochemical modelling. The sum of this work strongly supports Goldplay's plans to conduct further

drilling along strike on Faisanes.

The discovery of a high-grade precious (Au-Ag) and base metals (Pb-Zn) mineralized zone opens

the exploration at San Marcial and confirms a highly prospective geological environment for

additional gold and silver discoveries. The Company anticipates completing approximately 3

additional core drill holes at Faisanes in Q3/19 to follow up on SM 19-01.

Figure 2: Drill Section SM 19-01 at the Faisanes Target (CNW Group/Goldplay Exploration Ltd)

Figure 3: Core Photo – Sulphide-Rich Lapilli Tuff Hosting High-Grade Au-Ag Zone (CNW

Group/Goldplay Exploration Ltd)

Qualified Person

The scientific and technical data contained in this news release related to the San Marcial Project

was reviewed and/or prepared under the supervision of

Marcio Fonseca

, P.Geo., a non-independent

qualified person to Goldplay Exploration Ltd. who is responsible to ensure that the geological

information contained in this news release is accurate and who acts as "qualified person" under the

National Instrument 43-101 Standards of Disclosure of Mineral Projects.

Quality Assurance Program and Quality Control Procedures ("QA/QC")

Goldplay has implemented QA/QC procedures which include insertion of blank and standard

samples in all sample lots sent to SGS de México, S.A. de C.V laboratory facilities in

Durango,

Mexico

, for sample preparation and assaying. For every sample with results above Ag >100 ppm

(over limits), these samples are submitted directly by SGS de

Mexico

to SGS Canada Inc at

Burnaby, BC

. The analytical methods are , 4-acid Digest and Inductively Coupled Plasma Optical

Emission Spectrometry with Lead Fusion Fire Assay with gravimetric finish for silver above over

limits. For gold assays the analytical methods are Lead Fusion and Atomic Absorption Spectrometry

Lead Fusion Fire Assay and gravimetric finish for gold above over limits.

About Goldplay Exploration Ltd

Goldplay owns a >250 sq. km exploration portfolio in the historical Rosario Au-Ag Mining District,

Sinaloa, Mexico

. Goldplay's current focus includes resource expansion and exploration aiming new

gold and silver discoveries at the San Marcial Project, as well as a follow up exploration program at

the El Habal Project.

The San Marcial land package consists of 1,250 ha, located south of the

La Rastra

and Plomosas

historical mines and 20 km from the Company's 100% owned El Habal Project in the Rosario Mining

District,

Sinaloa, Mexico

. San Marcial is an attractive, near-surface high-grade silver, lead and zinc

open pit project for which a NI 43-101 resource estimate was completed by Goldplay in early 2019.

The NI 43-101 has defined a high-grade potential open pittable Ag project, attractive for future

development. It is a low risk resource development stage project, fully permitted for all exploration

activities and with support and authorization by local communities to carry out all necessary work on

the project.

San Marcial exhibits significant exploration upside supported by recent regional exploration program

completed by Goldplay, increasing the knowledge of the extension of the mineralized system from

500 meters to 6 km by delineation of additional 8 targets for future drilling. Some of these

exploration targets consist of old shallow pits, caved shafts and historical underground workings in

areas with extensive hydrothermal alteration, hosted by major regional structures in a felsic volcanic

environment, with field and sampling evidence dacite-rhyolite dome structures in a highly prospective

geological environment for gold and silver discoveries.

The El Habal Project is a drilling stage project. The oxidized gold mineralized zone outcrops along a

series of rolling hills with evidence of historical shallow underground mining along a 6 km long

prospective corridor. The El Habal Project is located near the historical gold-silver Rosario Mine

which reportedly operated for over 250 years. Goldplay's team has over 30 years of experience with

senior roles in exploration, financing, and development in the mining industry, including over ten years

of extensive exploration experience in the Rosario Mining District, leading to previous successful

discoveries. A current NI 43-101 report on the El Habal Project is filed on SEDAR.

Disclaimer for Forward-Looking Information

This press release contains forward-looking statements and information that are based on the

beliefs of management and reflect the Company's current expectations. When used in this press

release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict",

"may" or "should" and the negative of these words or such variations thereon or comparable

terminology are intended to identify forward-looking statements and information. Such statements

and information reflect the current view of the Company. Risks and uncertainties may cause actual

results to differ materially from those contemplated in those forward-looking statements and

information. By their nature, forward-looking statements involve known and unknown risks,

uncertainties and other factors which may cause our actual results, performance or

achievements,

or other future events, to be materially different from any future results, performance or

achievements expressed or implied by such forward-looking statements.

Mr.

Marcio Fonseca

P. Geo, President & CEO

Goldplay Exploration Ltd.

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

the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of

this press release.

*click here for a link to the report of the

March 2019

NI 43-101 resource update

SOURCE

Goldplay Exploration Ltd

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/July2019/30/c8818.html

%SEDAR: 00040149E

For further information:

+1 (604) 202 3155, Email: [email protected]

CO: Goldplay Exploration Ltd

CNW 08:00e 30-JUL-19

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