GRSL.V · 2019-08-08 12:00:00

Goldplay's Gold Mineralization Potential Continues to Grow at San Marcial

Corporate Updates

Goldplay's Gold Mineralization Potential

Continues to Grow at San Marcial

VANCOUVER

Aug. 8, 2019

/CNW/ -

Goldplay Exploration Ltd. (TSXV: GPLY,

FRANKFURT

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

is pleased to announce the continued

growth in gold discovery potential at the Company's San Marcial Project,

Sinaloa, Mexico

, with an

update of the most recent surface results and newly discovered gold-silver exploration drill targets.

While the project is known for its silver NI 43-101 resource estimate ("Resource")

News Release dated

07 February, 2019

, recent gold-focused exploration on targets peripheral to

the Resource has yielded significant gold results from the

Nava

, Faisanes, Chachalaca and

Guacamayo targets.

Goldplay's highlights to date from targets peripheral to the Resource indicate a broad distribution of

gold and silver over approximately 6 km of mineralized trend, from the Limoncillos target to the

Micuines target (Figure 1). The following is a summary of recent results at these targets:

Nava

–

Sampling of artisanal tunnels identified visible gold from panning of low sulphidation

quartz vein chip samples and channel sample results of up to

0.4 m

* (

0.4m

) at 10.0 g/t Au

Trench channel sampling (SMtr-020) returned intervals up to

24 m

(

17.7 m

) at 2.1 g/t Au,

including

5.0 m

(

3.7m

) at 4.0 g/t Au

. Both zones are currently being drilled to test continuity of

the gold mineralization up to 150 meters beneath surface.

Chachalaca Micuines –

Recent rock chip sample results identified on surface gold

mineralization in a system similar to

Nava

with returns of up to 1.1 g/t Au

Historical rock chip

samples at this target reported

1.0 m

(

0.9 m

) at

13.3 g/t Au,

1.0 m

(

0.85m

) at

7.9 g/t Au

including six other samples rock chip samples averaging

1.0 m

in length and grades ranging

from 1.0 to 5.0 g/t Au. A trench/channel exploration program is currently underway to verify

these encouraging gold results and obtain new sampling data, for the purpose of delineating

new drill targets.

Guacamayo –

a recent trench interval (SMtr-022) returned a wide zone of high-grade silver

(Ag) as well as anomalous gold –

24 m

at 219 g/t Ag and 0.25 g/t Au, including

1 m

at 305

g/t Ag and 2.01 g/t Au

Approximately

100 m

to the SW of SMtr-022, trench SMtr-019

intersected

5 m

at 0.6 g/t Au

. Goldplay is currently assessing the location of planned drill

targets on this target.

Gold Discovery in the Resource Area –

Recent assays of drill holes identified new gold

mineralization outside of the Resource defining attractive new gold targets. Individual drill-core

results included

1.5 m

(

1.0 m

)

at 2.5 g/t Au

(SM-10-21),

12.3 m

(

8.4 m

)

at 0.7 g/t Au

(SM-20)

and

47.0 m

(

12 m

)

at 0.2 g/t Au

(SM-10-09)

(Figure 2).

Faisanes -

Drill hole SM-19-01 intersected

1 m

(

0.9 m

) @ 204.6 g/t Au

, immediately adjacent

to the western edge of the Resource

. This represents a new gold mineralized zone outside of

the Resource.

_____________________________

(*) – True Thickness

See News Release dated 16 April 2019

See News Release dated 10 July 2019

See News Release dated 22 May 2019

See News Release dated 18 September 2018

Figure 1: Gold potential at San Marcial - Best gold results to date from four priority targets (CNW

Group/Goldplay Exploration Ltd)

Figure 2: Drill section showing gold discovery in the Resource Area, displaying the footwall felsic

volcanic sequence (CNW Group/Goldplay Exploration Ltd)

Goldplay President and CEO

Marcio Fonseca

commented

"A year ago, our data indicated high-

grade silver, lead and zinc at San Marcial. We have now added high-grade gold over multiple

target areas covering approximately 6 km of trend prospective for gold and silver mineralization.

Our current exploration program includes our Phase 1 drill program as well as continued surface

exploration of new target areas with gold and silver potential. Drilling at

Nava

is now underway with

further holes planned for both

Nava

and Faisanes to expand on our recent successful gold

discoveries. We continue to encounter new gold and silver mineralized zones, encouraging us to

pursue additional exploration in the San Marcial Project. As of today, we have covered only half of

the concession with a modern exploration program, opening up potential for additional

discoveries".

CURRENT DRILL PROGRAM

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

Faisanes and at

Nava

Phase I drilling at San Marcial brought immediate success with drill hole SM-19-01 intersecting a

very high-grade gold interval of

1 m

at 204.6 g/t Au at the Faisanes target on the western edge of

the Resource (Figure 1). This high-grade gold intercept has been followed up with detailed

geological and geochemical modelling. Findings from these newest studies strongly support further

drilling along 600 meters of strike length at Faisanes in the Phase I drilling program. The discovery

of a high-grade gold mineralized zone, associated with high grade silver and base metals (Pb-Zn),

opens the exploration at San Marcial. The Company anticipates completing approximately 3

additional core drill holes at Faisanes during the current program to follow up on SM-19-01.

Drill hole SM-19-02 is currently underway testing the

Nava

gold target 150 meters beneath the

broad gold interval in trench SMtr-020 that returned

24 m

at 2.1 g/t Au (including

5 m

@4.0 g/t Au).

The

Nava

target is located 1.5 km west of the San Marcial resource area and approximately 1 km

west of the Faisanes discovery. A

500 m

-long gold mineralized zone has been defined at

Nava

. For

further details, see

News Release dated

10 July, 2019

Additionally, the Company is actively focused on surface exploration along the 6 km long, NW-SE

trending corridor between the Micuines and Limoncillo targets (Figure 1), including prospecting for

discoveries of new high-grade Au-Ag zones. Any new gold and silver targets identified will be

considered for drill testing during the current program.

GEOLOGY

Gold and silver mineralization are widespread at the

Guacamayo

Resource

and

Faisanes

targets

(Figure 1) and is stratigraphically associated with a felsic volcanic sequence in the footwall below the

San Marcial Fault. It is also associated with breccia-hosted silver mineralization of the NI 43-101

resource. The felsic volcanic sequence consists of dacitic (to rhyolitic) composition intercalated lapilli

tuffs, flow banded and fine grained dacites (Figure 2). This association has been interpreted to be

part of a dacitic dome structure.

Sulphides can be locally disseminated or massive within the volcanics, however narrow veins, that

may incorporate quartz and/or carbonate, can also be sulphide rich. The veins may be discrete veins

in places but may also appear form stockworks or breccias, locally. At Guacamayo, Resource and

Faisanes, gold and silver appear to be closely associated with sulphide mineralization.

The recently discovered gold mineralization is typically defined by broad low-grade zones with locally

higher-grade results, as shown by the recent exceptional drill result from SM-19-01 of

1 m

at 204.6

g/t Au. To support this, the San Marcial drilling database contains 148 core assays above 0.2 g/t Au,

however only nine of these are > 1.0 g/t Au. The majority (126) are in the range 0.2 to 0.5 g/t Au.

Likewise, the Guacamayo surface sampling data base to date contains 35 samples > 0.2 g/t Au,

however only two of these samples are > 1.0 g/t Au (maximum 2.0 g/t), with the majority (29) in the

range 0.2 to 0.5 g/t Au. This represents evidence of a broad and continuous gold and silver

mineralized system with opportunities for new discoveries with cost effective surface exploration and

definition of drill targets to delineate high grade ore shoots.

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 in

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.

The Company is pleased to announce that the Company has granted 710,000 stock options to

directors, officers, and consultants of the company at an exercise price of

$0.21 cents

per option for

a term of five years. Such options have been granted pursuant to the company's 10-per-cent rolling

stock option plan and are in accordance with policies within the TSX Venture Exchange.

The Company wishes to correct typographical errors contained in its

July 30, 2019

news release.

The correct disclosure should read as follows:

Drill Hole

From (m)

To (m)

Sample

Length (m)

True

Thickness

(m)

Grade

(g/t)

Grade Ag

(g/t)

Grade

SM 19-01

47.4

51.4

4.0

Not sampled

SM 19-01

67.5

105.0

37.5

32.5

0.01

0.6

0.2

including

86.3

89.1

2.8

2.4

0.01

5.9

0.4

including

86.3

87.0

0.7

0.6

0.02

4.0

0.5

including

88.6

89.1

0.55

0.5

0.13

0.9

About Goldplay Exploration Ltd

Goldplay has successfully consolidated a district-sized portfolio, owning >250 sq. km of mineral

concessions in the historic

Rosario

gold-silver Mining District in the state of

Sinaloa, Mexico

. Its

flagship project, San Marcial, consists of a 1,250 ha land package located south of the

La Rastra

and Plomosas historic mines. San Marcial is a near-surface, high-grade silver, lead, and zinc open

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

2019. Additionally, bonanza-grade gold was drilled in

July 2019

at San Marcial, opening up the

potential for further gold success. Goldplay's 100% owned

El Habal

precious metals project is

located 20 km west of the San Marcial Project. It comprises 3,700 hectares and is located 75 km

southeast of the modern coastal port of Mazatlán, and 10 km on a paved road from the historic

mining town of

Rosario, Sinaloa, Mexico

Goldplay's current focus includes expanding its NI 43-101 resource estimate at the San Marcial

project, which contains 36Moz Ag Eq (indicated) + 11Moz Ag Eq (Inferred), by defining new high-

grade gold and silver targets along the project's 6 km mineralized trend. Goldplay is the first

company to perform exploration work at San Marcial in over 10 years. It is a low-risk development

stage project, fully exploration permitted and supported by the local communities to carry out all

proposed exploration activities. Only

500 m

of the 6 km trend has been drilled to date, highlighting

the significant potential for further discoveries. The Company has identified 8 high-priority targets

along the 6 km trend and is currently drilling two high-priority targets at Faisanes and

Nava

. Some of

these exploration targets consist of old shallow pits, caved shafts and historic shallow underground

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

felsic volcanic environment. Mapping and sampling by Goldplay have revealed evidence of dacite-

rhyolite dome structures in a highly prospective geological environment for additional high-grade gold

and silver discoveries.

The El Habal Project is a drill-stage project. Its oxidized gold mineralized zone outcrops along a

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

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

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.

The NI 43-101 reports for each of the San Marcial and El Habal Projects are available 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.

SOURCE

Goldplay Exploration Ltd

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http://www.newswire.ca/en/releases/archive/August2019/08/c3345.html

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For further information:

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

CO: Goldplay Exploration Ltd

CNW 08:00e 08-AUG-19

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