GSTM.V · 2024-01-24 12:00:00

Goldstorm Metals Discovers Multiple High- Grade Precious and Base Metal Zones on the 100 % Owned Crown Project, Located in Northwestern British Columbia, Canada

Exploration Programs

Goldstorm Metals Discovers Multiple High-

Grade Precious and Base Metal Zones on the

100 % Owned Crown Project, Located in

Northwestern British Columbia, Canada

Vancouver, British Columbia--(Newsfile Corp. - January 24, 2024) -

Goldstorm Metals Corp

(TSXV:

GSTM) (FSE: B2U)

Goldstorm

" or "

the Company

") is pleased to report final results from the

Company's 2023 summer reconnaissance program conducted on its 100 % owned Crown Property

Crown

" or the "

Property

") situated within the prolific Golden Triangle region of British Columbia.

The Property is comprised of 5 contiguous concessions (Orion, Fairweather, Delta, Mackie West, High

North), covering approximately 15,819 hectares, situated adjacent and due south of both Seabridge

Gold Inc.'s KSM Property and Newmont's Brucejack gold mine.

Exploration carried out during 2023 on the Crown Property (the "Program") consisted of work at the

Orion Concession, reported in the Company

press release dated November 27, 2023

, as well as the

Fairweather and Delta concessions, reported in this press release.

The Program at Fairweather and Delta focused on prospecting newly exposed outcrops due to recent

glacial ablation and building upon the historical discoveries made on the Property. Reconnaissance

sampling was conducted on both the Fairweather and Delta concessions which totaled 720 rock

samples (620 at Fairweather and 100 at Delta) which were collected as 203 chip samples and 517 grab

samples (click to view:

4 sampling area maps

Highlights include grab samples taken at Fairweather

which returned

1.18 g/t gold, 2,656 g/t silver, 0.55 % copper, 7.65 % lead, and 5.03 % zinc and

11.30 g/t gold, 89.02 g/t silver, 0.82 % copper and 1.37 % zinc from narrow steeply dipping

structures that may be associated to large bulk-tonnage, intrusive-related systems.

(See tables

1 and 2 below for select rock samples taken from the Fairweather and Delta zones).

Reconnaissance of recently exposed fresh outcrop on the eastern area of the Fairweather Concession

has led to the discovery of three significant polymetallic mineralized zones referred to as the

Galileo

Triton

and

Launch

zones. These zones were observed to contain precious metals hosted in structurally

associated veining and semi-massive sulphide pods and were found in close proximity to the Triassic-

Jurassic contact commonly known as the Kyba Red line.

This fault contact, between Triassic Stuhini and

Jurassic Hazelton units, trends northerly through both the Fairweather and Delta concessions forming a

previously unmapped "Red Line" which may represent a low-angled thrust fault which occurs commonly

throughout the region.

The

Launch Zone

, located near the upper Fairweather Glacier, occurs as fracture-controlled

mineralization along well-defined shear zones and pods of semi-massive sulphide mineralization within

a siltstone-mudstone host, close to the contact area with the Texas Creek intrusives.

Representative chip

sampling with this area returned

1.95 g/t gold, 15.09 g/t silver, 0.12 % copper over 3.0 meters (m)

and 4.6 g/t gold, 118.5 g/t silver, 0.83 % copper over 2.0 m.

This mineralization may be associated

with transform structures related to thrust faulting juxtaposing upper Hazelton rocks with Stuhini rocks.

The

Galileo Zone

was discovered by reconnaissance mapping and sampling crews working along the

southern portion of the Fairweather claim along freshly exposed outcrop, adjacent to the Frank Mackie

glacier. This polymetallic, silver-rich sulphide veins-veinlets system with conjugate gold-rich quartz pyrite

veins/veinlets occur within volcaniclastic rocks is believed to be from the Hazelton Formation. This zone

can be traced approximately 500 east-west by 200 m north-south and remains open in all directions.

Galileo is considered a priority target for future exploration.

The

Triton Zone

, also located on the Fairweather Concession along the north boundary area, was

discovered as a northwest-trending belt of recently exposed volcanic rocks with gold-silver mineralized

shear-host veins and veinlets trending along an east-west structural corridor. The highest grab sample

assayed

8.3 g/t gold

and

48.8 g/t silver.

Sampling of the western area of Fairweather Concession returned samples up to

0.65 m of 3.34 g/t

gold

associated with a zone of phyllic alteration in metamorphosed Triassic volcaniclastic rocks.

Veining was associated with a large gossan colour anomaly measuring 600 x 200 m along a northwest

axis.

On the Delta Concessions, although crews spent fewer days in the area, they did obtain a grab sample

that contained up to 2.4 g/t gold and 36.2 g/t silver within strong QSP altered volcanics during a

preliminary reconnaissance traverse.

Ken Konkin, P.Geo., President and CEO, comments:

"We are very pleased with the results

generated by our reconnaissance team as part of our on-going exploration (OEX). Mapping and

prospecting crews during 2023 have discovered several significant mineralized zones that appear to be

independent and occur as multi-pulse events typical of peripheral hydrothermal systems that may be

related to intrusive or magmatic activity that produce large bulk-tonnage intrusive-related or porphyry-

related targets. We plan to increase our efforts with our OEX team in these areas with continued

sampling and mapping with particular attention paid to various alteration phases. The goal is to fast-

track and develop drill targets that may host not only high-grade precious and base-metal targets but

also to delineate the possible source to these structures as they may relate to a much larger

disseminated and veinlet system that may occur peripherally and/or at depth. Crews will be busy

planning the 2024 exploration program over the next few months in addition to completing assessment

reports for the 2023 exploration program."

Photo 1: Fairweather Grab Sample A0514555 from area of freshly exposed quartz-carbonate

stockwork veining hosting semi-massive galena, sphalerite, pyrite and chalcopyrite that yielded 1.18

g/t gold,

2656

g/t silver

, 0.55 % copper, 7.65 % lead, and 5.03 % zinc.

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/9214/195417_goldstormfigure1.jpg

Photo 2: Grab Sample A0519498 from freshly exposed massive-sulphide veining hosting semi-

massive pyrite, sphalerite, and minor malachite that yielded

11.30 g/t

gold

, 89.02 g/t silver, 0.82 %

copper, and 1.37 % zinc.

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/9214/195417_goldstormfigure2.jpg

Photo 3: Launch Zone - grab and continuous representative chip samples uncovered by hand

trenching in recent ablation zone below toe of Fairweather glacier.

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/9214/195417_0100ef2b24957ab7_004full.jpg

Fairweather Sample Results

Table 1: Select Rock Sample Results for Fairweather Area in Press Release January 24, 2024.

Sample

Easting

UTM09

Northing

UTM09

Elev.

(m)

Zone

Sample

Type

Width

(m)

(g/t)

(%)

A0514839

425247

6243774

1600

Fairweather

Chip

0.7

2.38

9.51

0.02

0.01

A0519012

425244

6243768

1601

Fairweather

Chip

0.65

3.34

5.75

0.01

0.02

A0519062

425525

6243494

1556

Fairweather

Chip

0.3

3.33

24.52

0.01

0.08

0.21

A0519063

425573

6243489

1563

Fairweather

Chip

0.15

2.14

7.65

0.03

0.06

A0519114

429083

6245312

1599

Fairweather

Chip

0.35

0.34

842

0.02

0.09

0.19

G0001613

429487

6246227

1459

Fairweather

Chip

2.56

8.7

0.02

0.35

2.03

A0519385

429280

6243968

861

Galileo

Chip

0.4

1.65

27.39

0.41

0.02

0.88

A0519506

429119

6243953

840

Galileo

Chip

0.45

5.42

20.64

0.18

0.02

0.22

A0519519

429062

6244124

947

Galileo

Chip

0.6

0.16

378

0.02

5.51

1.29

A0514928

429887

6246005

1425

Launch

Chip

0.5

2.74

19.26

0.13

0.32

2.39

A0514930

429893

6246002

1420

Launch

Chip

0.5

2.71

17.32

0.23

0.12

0.18

A0519193

429946

6245832

1406

Launch

Chip

2.67

15.65

0.1

0.08

0.34

A0519194

429945

6245832

1398

Launch

Chip

2.3

18.75

0.13

0.1

0.28

A0519197

429946

6245831

1399

Launch

Chip

3.29

213

1.51

3.08

6.72

A0519322

429941

6245809

1443

Launch

Chip

3.49

34.13

0.31

0.15

0.33

A0519323

429946

6245814

1441

Launch

Chip

1.93

38.43

0.09

0.13

0.07

A0519324

429947

6245813

1441

Launch

Chip

1.94

9.15

0.07

0.03

0.04

A0519456

428793

6245902

1647

Triton

Chip

0.15

3.38

38.5

0.03

1.21

6.91

A0519457

428792

6245902

1647

Triton

Chip

1.13

45.34

0.01

3.38

5.99

A0514861

425319

6243746

1587

Fairweather

Float

2.43

7.59

0.01

0.07

0.03

A0519392

429156

6243973

863

Galileo

Float

7.76

24.22

0.45

0.01

0.26

A0519145

429855

6245900

1412

Launch

Float

8.92

48.7

0.45

3.34

2.29

A0513714

427986

6245473

1817

Fairweather

Grab

4.64

95.28

0.05

0.45

0.09

A0513734

428683

6245413

1631

Fairweather

Grab

0.03

196

0.44

0.46

0.09

A0514999

428785

6245305

1619

Fairweather

Grab

1.79

25.45

0.72

0.01

0.04

A0519015

425003

6243349

1406

Fairweather

Grab

3.02

7.45

0.02

0.01

A0519018

425600

6243318

1434

Fairweather

Grab

2.6

2.75

0.01

0.03

0.02

A0519045

429960

6245077

1306

Fairweather

Grab

0.98

461

1.06

3.06

7.46

A0519077

429945

6245071

1312

Fairweather

Grab

0.01

125

0.02

4.47

5.42

A0519285

424813

6244955

1526

Fairweather

Grab

0.76

59.31

0.01

1.69

3.18

A0519551

428344

6245554

1704

Fairweather

Grab

0.53

27.43

0.16

0.32

20.58

G0001589

428460

6245364

1666

Fairweather

Grab

0.55

133

0.13

3.7

0.84

A0513091

429023

6244084

943

Galileo

Grab

0.28

527

0.02

7.69

29.68

A0513092

429023

6244085

943

Galileo

Grab

0.26

569

0.02

8.66

31.13

A0514507

429294

6243995

877

Galileo

Grab

3.08

6.13

0.02

0.13

0.02

A0514513

429122

6243968

845

Galileo

Grab

5.22

17.55

0.18

0.01

A0514555

429101

6244042

949

Galileo

Grab

1.18

2656

0.55

7.65

5.03

A0519106

429365

6243952

847

Galileo

Grab

7.67

8.47

0.1

A0519391

429136

6243975

863

Galileo

Grab

4.19

18.43

0.67

0.01

0.03

A0519498

429285

6243975

936

Galileo

Grab

11.3

89.02

0.82

0.07

1.37

A0519505

429108

6243993

855

Galileo

Grab

4.36

3.63

0.05

0.01

A0519518

429062

6244124

947

Galileo

Grab

0.73

1333

0.04

28.38

19.98

A0519586

429029

6244090

955

Galileo

Grab

0.26

342

0.01

6.48

55.55

A0519587

429029

6244090

955

Galileo

Grab

0.9

878

15.9

14.81

A0514832

429952

6245831

1440

Launch

Grab

2.47

57.67

0.14

0.74

6.36

A0514833

429906

6245858

1453

Launch

Grab

1.69

20.31

0.16

0.18

2.56

A0514834

429801

6245895

1480

Launch

Grab

9.19

22.63

0.1

0.97

4.22

A0514835

429855

6245886

1467

Launch

Grab

3.63

10.11

0.04

0.31

1.03

A0514961

429792

6245911

1419

Launch

Grab

12.97

0.04

0.1

0.12

A0514962

429849

6245894

1414

Launch

Grab

2.74

9.45

0.1

0.23

1.78

A0519144

429796

6245903

1420

Launch

Grab

3.22

2.91

0.01

0.05

0.31

A0519146

429946

6245832

1398

Launch

Grab

5.41

32.68

0.2

0.24

0.71

A0519320

429946

6245831

1441

Launch

Grab

4.92

257

3.23

2.59

8.2

G0001564

429595

6246017

1480

Launch

Grab

6.31

4.76

0.01

0.03

A0519131

429147

6245863

1618

Triton

Grab

2.17

16.08

0.02

0.08

0.07

A0519377

428683

6245982

1578

Triton

Grab

2.26

33.75

0.01

0.51

2.42

A0519380

428699

6245966

1578

Triton

Grab

8.3

48.83

0.05

0.2

0.15

A0519458

428792

6245900

1647

Triton

Grab

0.62

54.97

0.04

2.55

23.35

G0001576

428893

6245780

1659

Triton

Grab

1.93

7.55

0.02

0.03

G0001577

428893

6245779

1657

Triton

Grab

4.71

23.07

0.03

0.05

0.5

Delta Sample Results

Table 2: Select Rock Sample Results for Delta Area in Press Release January 24, 2024.

Sample

Easting

UTM09

Northing

UTM09

Elev.

(m)

Zone

Sample

Type

Width

(m)

(g/t)

(%)

A0514580

430744

6248310

1537

Delta

Float

0.75

351

0.44

1.25

0.44

A0514612

430753

6248319

1547

Delta

Float

0.2

158

0.16

0.57

1.75

G0001647

428980

6247459

1436

Delta

Float

1.04

36.16

0.02

0.01

G0001581

428908

6247566

1470

Delta

Grab

2.37

36.2

0.02

0.13

G0001587

428967

6247479

1454

Delta

Grab

2.12

8.55

A0519470

428800

6247571

1571

Delta

Grab

1.81

5.02

0.07

A0514578

430746

6248327

1557

Delta

Grab

0.87

55.75

0.08

0.05

0.06

G0001540

429308

6246553

1295

Delta

Grab

1.45

0.38

0.02

G0001633

428898

6247597

1496

Delta

Grab

1.27

4.25

0.01

G0001571

429453

6246359

1383

Delta

Grab

0.45

11.1

0.03

0.63

1.72

Qualified Person

The Qualified Person for this news release for the purposes of National Instrument 43-101 is the

Company's President and CEO, Ken Konkin, P.Geo. He has read and approved the scientific and

technical information that forms the basis for the disclosure contained in this news release.

QA/QC

All samples were prepared at MSA Labs' Preparation Laboratory in Terrace, BC and assayed at MSA

Labs' Geochemical Laboratory in Langley, BC. Gold was assayed using a fire assay with atomic

absorption (AA) spectrometry finish. Samples over 10 ppm gold were fire assayed with gravimetric

finish. All samples were analyzed by four acid digestion with multi-element ICP-MS, with silver and base

metal over-limits being reanalyzed by emission spectrometry. MSA Laboratories quality system

complies with the requirements for the International Standards ISO 17025 and ISO 9001. MSA Labs is

independent of the Company.

About Goldstorm Metals

Goldstorm Metals Corp. is a precious and base metals exploration company with a large strategic land

position in the Golden Triangle of British Columbia, an area that hosts some of the largest and highest-

grade gold deposits in the world. Goldstorm's flagship projects, Crown and Electrum, cover an area that

totals approximately 16,469 hectares over 6 concessions, of which 5 are contiguous.

The Crown Project

is situated directly south of Seabridge Gold's KSM gold-copper deposits and Newcrest Gold's

Brucejack/Valley of the Kings gold mine.

Electrum, also located in the Golden Triangle of BC, is situated

directly between Newmont Corporation's Brucejack Mine, approximately 20 kilometers to the north, and

the past producing Silbak Premier mine, 20 kilometers to the south.

ON BEHALF OF THE BOARD OF DIRECTORS OF

GOLDSTORM METALS CORP.

Ken Konkin

President and Chief Executive Officer

For further information, please visit the Company's website at

https://goldstormmetals.com/

contact:

Chris Curran

Head of Corporate Development and Communications

Phone: (604) 559 8092

E-Mail:

[email protected]

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.

Cautionary Statement Regarding Forward Looking Statements

This release includes certain statements and information that may constitute forward-looking

information within the meaning of applicable Canadian securities laws. All statements in this news

release, other than statements of historical facts, including statements regarding future estimates,

plans, objectives, timing, assumptions or expectations of future performance, including without

limitation, the statement regarding the expectation that geologists are expected to complete a

compilation study this winter once all assay results are received. Such a statement is a forward-

looking statement and contains forward-looking information.

Generally, forward-looking statements and information can be identified by the use of forward-looking

terminology such as "intends" or "anticipates", or variations of such words and phrases or statements

that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking

statements are based on certain material assumptions and analysis made by Goldstorm and the

opinions and estimates of management as of the date of this press release, including that geologists

will complete a compilation study this winter once all assay results are received.

These forward-looking statements are subject to known and unknown risks, uncertainties and other

factors that may cause the actual results, level of activity, performance or achievements of Goldstorm

to be materially different from those expressed or implied by such forward-looking statements or

forward-looking information. Important factors that may cause actual results to vary, include, without

limitation that geologists will not complete a compilation study this winter or at all.

Although management of Goldstorm has attempted to identify important factors that could cause

actual results to differ materially from those contained in forward-looking statements or forward-looking

information, there may be other factors that cause results not to be as anticipated, estimated or

intended. There can be no assurance that such statements will prove to be accurate, as actual results

and future events could differ materially from those anticipated in such statements. Accordingly,

readers should not place undue reliance on forward-looking statements and forward-looking

information. Readers are cautioned that reliance on such information may not be appropriate for other

purposes. Goldstorm does not undertake to update any forward-looking statement, forward-looking

information or financial out-look that are incorporated by reference herein, except in accordance with

applicable securities laws.

To view the source version of this press release, please visit

https://www.newsfilecorp.com/release/195417

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