Barsele Expansion drill hole SKI18004 at the Skiråsen Zone intersects Nine Mineralized Intervals, including 26.55 metres grading 2.43 g/t gold, plus 5.0 metres grading 4.0 g/t gold, plus 14.0 metres grading 4.97 g/t gold.
September 20, 2018 A Belcarra Group Company
Barsele Expansion drill hole SKI18004 at the Skiråsen Zone intersects Nine
Mineralized Intervals, including 26.55 metres grading 2.43 g/t gold, plus 5.0
metres grading 4.0 g/t gold, plus 14.0 metres grading 4.97 g/t gold.
At the Central Zone, Expansion hole CNT18005 cut 5.0 metres grading 4.71 g/t gold.
• CNT18007B intersected nine mineralized intervals, including 11.0 metres grading 2.30 g/t gold.
• SKI18005 intersected 5.0 metres grading 3.35 g/t gold.
Vancouver, BC – Barsele Minerals Corp. – (TSXV: BME) (“Barsele”) is pleased to report an operational update for the
ongoing exploration program within the Barsele Gold -VMS Project area in Västerbottens Län, northern Sweden (the
“Barsele Project”). The exploration program is being operated by joint venture partner Agnico Eagle Mines Limited – (TSX,
NYSE: AEM) (“Agnico Eagle”). Ownership in the Barsele Project is 55% Agnico Eagle and 45% Barsele. Agnico Eagle can
earn an additional 15% in the Barsele Project through the completion of a pre -feasibility study. There is no cash outlay
requirement by Barsele until a pre-feasibility study is completed.
Two drills were operational during the month of July , in order to accommodate summer vacations and machine
maintenance. As of the end of July, 23,127 metres of core has been collected from 53 completed holes since drilling was
re-started in early January, 2018. Nine drill holes are listed in this news release. At the Avan Zone, four expansion holes
are presented, along with two expansion holes at the Central Zone, and three expansion holes at the Skiråsen Zone. Two
Regional exploration h oles were completed at the Risberget Zone, with one hole completed at Skirliden , along the
southeastern extension of Lake Skirträsket. Base of till drill testing continued in July, with 848.5 metres probed in 82 holes.
Regional surface till sampling was ongoing, with 426 samples collected.
At the Avan Zone, the best result was from hole AVA18009, which yielded an intercept 3.0 metres core length (estimated
2.2 metres true thickness) grading 2.72 g/t gold at a midpoint depth of 290 metres below surface.
At the Central Zone, drill hole CNT18005 intersected two gold-bearing zones with the best intercept being 5.0 metres core
length (estimated 2.3 metres true thickness) grading 4.71 g/t gold at a midpoint depth of 260 metres below surface. Hole
CNT18007B cut nine gold-bearing zones with a highlight intercept of 11.0 metres core length (estimated 3.7 metres true
thickness) grading 2.30 g/t gold at a midpoint depth of 445 metres below surface.
At the Skiråsen Zone, hole SKI18004 cut nine gold-mineralized intervals with the highlight intercepts being 26.55 metres
core length (estimated 14.2 metres true thickness) grading 2.43 g/t gold at a midpoint depth of 480 metres below surface,
plus 5.0 metres core length (estimated 2.7 metres true thickness) grading 4.0 g/t gold at a midpoint depth of 525 metres
below surface, plus 14.0 metres core length (estimated 6.6 metres true thickness) grading 4.97 g/t gold uncut (3.8 g/t gold
cut) at a midpoint depth of 545 metres below surface. Hole SKI18005 yielded a highlight intercept of 5.0 metres core
length (estimated 2.9 metres true thickness) grading 3.35 g/t gold at a midpoint depth of 190 metres below surface.
Barsele’s President, Gary Cope states; “Drilling at the Avan, Central and Skiråsen Zones continues to deliver solid results.
At the Risberget Zone, the geological-structural framework is being reinterpreted and drilling is now focused on testing this
evolving model.”
July 2018 Drilling Update
Hole ID Easting Northing Az Dip DDH
Length
From
(m)
To
(m)
CL
(m)
TL
(m)
Au
(g/t)
Top
Cut
(g/t)
AVA18002 617319.674 7215318.69 220 -47 443.50 327.00 330.00 3.00 2.20 1.86
Expansion 440.00 442.00 2.00 1.50 3.96
AVA18007 617031.49 7215513.37 40 -63 461.20
Expansion no significant intersections
AVA18008 617026.30 7215507.32 222 -47 144.00 25.00 27.00 2.00 1.40 1.30
Expansion 49.00 53.00 4.00 2.70 0.88
AVA18009 617450.86 7215912.43 220 -46 491.30 418.00 421.00 3.00 2.20 2.72
Expansion
CNT18005 617910.45 7215079.61 53 -62 479.90 201.00 208.00 7.00 3.30 2.57
Expansion 293.00 298.00 5.00 2.30 4.71
CNT18007B 6182659.57 7215111.19 224 -71 938.00 165.00 176.00 11.00 4.10 1.79
Expansion 196.00 209.00 13.00 4.80 1.59
250.00 256.00 6.00 2.20 2.13
272.00 277.00 5.00 1.80 1.76
316.00 344.00 28.00 10.3 1.00
420.00 425.50 5.50 1.80 2.35
448.70 456.00 7.30 2.40 1.78
469.00 480.00 11.00 3.70 2.30
488.00 495.00 7.00 2.30 2.35
SKI18004 619173.13 7214522.22 330 -57 699.80 382.00 386.00 4.00 2.10 2.03
Expansion 442.00 446.00 4.00 2.10 1.86
460.00 469.00 9.00 4.80 1.16
478.00 515.00 37.00 19.8 0.87
522.00 527.00 5.00 2.60 2.20
549.00 575.55 26.55 14.2 2.43
587.00 591.00 4.00 2.20 2.02
620.00 625.00 5.00 2.70 4.00
637.00 651.00 14.00 6.60 4.97 3.80
SKI18005 619200.75 7214625.41 330 -45 276.10 38.00 50.00 12.00 6.40 1.10
Expansion 267.00 272.00 5.00 2.90 3.35
SKI18006 619378.65 7214202.45 41 -53 898.90
Expansion no significant intersections
Az = Compass Bearing Dip = Degrees Inclined CL = Core Length TL = Est. True Length Top Cut varies 40 -18 g/m
The technical information in news releases is verified by quarterly site visits by the Qualified Person, where the data is
discussed with the site management and tech nical staff and the database is reviewed and drill core is examined. The
quality control/quality assurance program at the Bar sele Project is described on the Barsele website at
http://barseleminerals.com/s/QAQCProcedures-Barsele.asp.
All samples referred to in this table were tested at independent ALS Laboratories in Romania and Ireland, using ultra trace
level method (ME-MS61)-48 element by using four acid digestion together with ICP -AES and ICP-MS analytical methods.
Gold is tested by fire assay, aqua regia digestion and analysed with an atomic absorption spectroscopy (AAS) or gravimetric
finish depending on grade (Au -AA24 and Au -GRA22). Each method has a lower and upper calibration range for which
results are accurately determined.
As project operator, Agnico Eagle has developed a commu nity relations program to engage the various stakeholders in
the Barsele P roject area. Basic environmental assessment and surface water ch aracterization, species studies and
hydrogeology studies are ongoing.
Stock Options Granted
Barsele announces that it has granted 50,000 incentive stock options to a consultant to purchase up to 50,000 common
shares in the capital of Barsele. The incentive stock options have an exercise price of $0. 71 per share, expire five years
from the date of grant and vest immediatel y. As a result of this option grant, Barsele has stock options outstanding that
are exercisable into up to 11,635,000 common shares, representing 9.6% of the current issued and outstanding share
capital.
About the Barsele Gold Project
The Barsele Project i s located on the western end of the Proterozoic “Skellefte Trend”, a prolific volcanogenic massive
sulphide deposits belt, where it intersects with the “Gold Line” in Northern Sweden. Both polymetallic deposits and
intrusive hosted orogenic gold deposits are present in this region and on the property. Current and past producers in the
region include Boliden, Kristineberg, Bjorkdal, Svartliden and Storliden.
Drilling has been focused on verifying, defining and expanding the mineral resources within and along the Avan, Central
and Skiråsen zones and recently the Risberget Zone.
This gold -bearing system remains open in all directions. These structurally -linked mineralized zones occur within
granodiorite-volcanic-sedimentary host rocks that vary in width from 10’s of metres to 500 metres and have been traced
over a strike length exceeding 8.0 kilometres. Gold is generally associated with arsenopyrite and low base metal content,
but also occurs as native metal.
Art Freeze, P.Geo. is the Qualified Person as defin ed in NI 43 -101 and takes responsibility for the technical disclosure
contained within this news release.
About Barsele Minerals Corp.
Barsele is a Canadian -based junior exploration company managed by the Belcarra Group , comprised of highly qualified
mining professionals. Barsele’s main property is the Barsele Gold Project in Västerbottens Län, Sweden, a joint venture
with Agnico Eagle. An updated NI 43-101 Technical Report on the Barsele Project with an Effective Date of February 16th,
2018, was filed on SEDAR on April 12th, 2018.
ON BEHALF OF THE BOARD OF DIRECTORS
Gary Cope
President
For further information, please contact Barsele Minerals Corp. at (604) 687-8566 x 228, email [email protected]
or visit our website at www.barseleminerals.com.
This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of
upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking
statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially
from those currently anticipated in such statements and Barsele undertakes no obligation to update such statements, except as required by law.
Neither TSX Venture 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.