Kingfisher Reports Highly Anomalous pXRF Results from RAB Drilling at Day Trip Zone, Goldrange Project

Kingfisher Reports Highly Anomalous pXRF Results from RAB Drilling

at Day Trip Zone, Goldrange Project

VANCOUVER, British Columbia, July 12, 202 2 – Kingfisher Metals Corp. (TSX -V: KFR) (FSE: 970)

(OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce updates on rotary air blast (RAB)

drilling at the 100% owned 511 km2 Goldrange Project. Goldrange is located approximately 25 km south of

the town of Tatla Lake in the Chilcotin region of Southwest British Columbia.

Highlights

• 27 RAB drill holes (1417.32 m) have been completed at the Day Trip Zone, located 5 km SE of the

Cloud Drifter Trend.

• Portable X-Ray Fluorescence (pXRF) analysis has delineated multi -element anomalism related to

a significant hydrothermal system.

• Visual chip logs identified sulfide minerals and quartz veins typical of the gold mineralization style

observed on surface in all drill holes to date.

• Geochemical and geological observations from drill cuttings outline a ~275 m x 120 m prospective

footprint open laterally and at depth.

• Samples have been submitted for gold analysis at MSALABS’ Chrysos PhotonAssayTM for analysis

and check fire assays with initial results expected in the coming weeks.

Dustin Perry, CEO states “RAB drilling coupled with pXRF analysis at Day Trip has efficiently outlin ed an

open-ended hydrothermal footprint typical of gold mineralization on surface . Results to date indicate that

the system may be considerably larger than what we had initially interpreted. The Company will update the

market on developments from the gold assay results in due course.”

Overview

Kingfisher commenced the first-ever drill program at the Day Trip Zone with a rotary air blast (RAB) drill

rig in May 2022. The initial 27 holes (Table 1) focused on a ~275 m by 120 m area at shallow depths of

less than 82 m.

The Day Trip Zone covers a rounded mountain top approximately 5 km southeast of the Cloud Drifter Trend

(Figures 1 and 2). The target is situated between two interpreted fault splays off the regional Ottarasko

Fault. High-density intrusive-hosted veins, up to 2 m in width, occur over an area ~100 m by 400 m. Quartz

veins from this area returned grades from below detection limit to 6.7 g/t Au over 2 m . Adjacent to the

intrusion is a ~70 m x 90 m area of arsenopyrite-cement breccia in subcrop (Figure 1). Approximately 20%

of the s ubcrop material in this area consists of arsenopyrite -cement breccia and rocks grade from 3.4 to

20.1 g/t Au. Talus fine s sampling in 2020 and 2021 outlined a broad area of gold anomalism coincident

with areas of gold in outcrop and subcrop that grades up to 8.4 g/t Au. Rock and talus fines geochemistry

both yield a strong multi-element signature of As, Ag, Cu, Bi, Te, Sb, Zn and Pb associated with Au.

Figure 1. Day Trip Zone and RAB Drill Collars

Figure 2: Day Trip Zone Aerial View to East

Hole Easting (m) Northing (m) Elevation (m) Depth (m) Azimuth Dip

GRR22-001 392313 5702390 2274 70.10 162 70

GRR22-002 392311 5702391 2274 82.30 247 55

GRR22-003 392311 5702393 2275 56.39 300 55

GRR22-004 392313 5702394 2275 65.53 345 55

GRR22-005 392314 5702394 2275 71.63 020 55

GRR22-006 392296 5702432 2280 36.58 162 55

GRR22-007 392295 5702432 2280 13.72 210 55

GRR22-008 392264 5702379 2273 82.30 015 70

GRR22-009 392262 5702376 2272 41.15 247 55

GRR22-010 392264 5702375 2272 19.81 160 55

GRR22-011 392266 5702377 2273 44.20 090 55

GRR22-012 392264 5702377 2272 19.81 000 90

GRR22-013 392278 5702407 2279 67.06 000 90

GRR22-014 392278 5702406 2278 45.72 090 65

GRR22-015 392278 5702407 2278 16.76 247 60

GRR22-016 392278 5702407 2279 54.86 020 60

GRR22-017 392254 5702346 2271 41.15 030 80

GRR22-018 392218 5702361 2271 54.86 247 80

GRR22-019 392218 5702361 2271 57.91 069 70

GRR22-020 392190 5702458 2276 60.96 248 55

GRR22-021 392190 5702458 2276 51.82 248 70

GRR22-022 392140 5702442 2266 36.58 248 65

GRR22-023 392140 5702442 2266 39.62 248 90

GRR22-024 392080 5702424 2246 74.68 068 70

GRR22-025 392080 5702424 2244 64.01 248 65

GRR22-026 392064 5702395 2236 77.72 247 60

GRR22-027 392064 5702395 2236 70.10 190 60

Table 1. RAB Drill Hole Locations (NAD83, Zone 10)

RAB Drill Results

Drill cuttings were analyzed using a n Olympus Vanta Handheld XRF (C Series) (pXRF) instrument for

multiple elements. All RAB holes intercepted anomalous intervals of pathfinder elements (Figure 3, Table

2) consistent with Au-related pathfinder enrichments observed in surface geochemical samples previously

collected at the Day Trip Zone.

Figure 3. Day Trip Zone pXRF Results of RAB drilling

Hole From (m) To (m) Interval (m) As ppm Cu ppm Zn ppm

GRR22-001 0.00 9.14 9.14 234 122 152

and 30.48 36.58 6.10 272 145 443

GRR22-002 0.00 15.24 15.24 938 222 230

and 32.00 39.62 7.62 120 74 101

GRR22-003 0.00 7.62 7.62 565 111 272

and 25.91 35.05 9.14 361 134 97

GRR22-004 0.00 6.10 6.10 108 108 218

GRR22-005 0.00 6.10 6.10 149 81 87

GRR22-006 0.00 18.29 18.29 1395 137 396

GRR22-007 0.00 12.19 12.19 2153 118 461

GRR22-008 0.00 24.38 24.38 3407 206 183

GRR22-009 0.00 41.15 41.15 579 143 104

GRR22-010 0.00 16.76 16.76 3762 350 231

GRR22-011 0.00 44.20 44.20 854 236 226

GRR22-012 0.00 19.81 19.81 2606 293 160

GRR22-013 0.00 12.19 12.19 11693 375 202

GRR22-014 0.00 16.76 16.76 8579 373 404

GRR22-015 0.00 13.72 13.72 4804 271 253

GRR22-016 0.00 18.29 18.29 3418 165 188

GRR22-017 6.10 32.00 25.91 199 119 78

GRR22-018 6.10 48.77 42.67 1086 135 165

GRR22-019 3.05 30.48 27.43 2580 184 172

GRR22-020 0.00 16.76 16.76 152 112 118

GRR22-022 0.00 22.86 22.86 1196 211 215

GRR22-023 0.00 15.24 15.24 562 234 185

GRR22-025 36.58 62.48 25.90 247 196 75

GRR22-026 0.00 9.14 9.14 248 195 75

GRR22-027 0.00 6.10 6.10 346 201 91

*True widths are not known at this time, all widths reported are drilled widths. Highlight intervals are selected based on >100 ppm

As. Anomalous intervals with less than 5 m lengths are omitted from table, bold rows contain As > 1000 ppm

Table 2. Highlight Table of XRF Results

Breccia Target Area

The breccia target area consists of mafic to intermediate volcaniclastic siltstone and sandstone that is host

to a quartz-sulfide breccia. The breccia is associated with arsenopyrite and subordinated pyrite, pyrrhotite,

and chalcopyrite. Drilling intercepted hydrothermal quartz and sulfide in all holes in the target area (Figure

4) that are enriched in As, Cu, Zn, Pb, Sb and Bi as defined by pXRF.

Figure 4. Photos of RAB Chips of Breccia Target Area

Intrusive Target Area

The intrusive target area is host to a quartz diorite intrusi on that cuts sandstone. In contrast to the breccia

target area, hydrothermal material at the intrusive target area is quartz dominated, and relatively sulfide

poor (Figures 5 and 6). Intervals with hydrothermal material are associated with similar enrichments in Cu

and Pb as the breccia target, whereas As, Bi, Sb, and Zn enrichments are more muted.

Figure 5. Photos of RAB Chips of Intrusive Target Area

Figure 6: Low-Sulfide Quartz Vein Breccia with Pathfinders

pXRF Sampling and Analytical Protocol

RAB drill holes at the Goldrange Project are NWJ sized (2 5/8”). Samples are collected continuously from

surface from each 5 ft (1.52 m) rod length. Collected sample material is put through a 1:8 riffle splitter, with

the smaller portion of the sample bagged to be sent to the lab for Au Chrysos PhotonAssayTM and Au Fire

Assay checks. From the riffle splitter reject ~500 g rams of material are collected for pXRF analysis. The

pXRF samples are returned to camp where they are dried prior to analysis. Once dry 15 ml of it is packed

in a plastic XRF sample cup lined with prolene thin film. Care is taken to ensure that no material larger than

2 mm in diameter is packed into the sample cup. Once the sample cups have been packed , they are

analyzed with an Olympus Vanta Handheld pXRF (C Series). Each sample is analyzed twice, adjusting the

position of the sample on the pXRF detector between analyses. The two analyses are averaged to give a

final result. Between each sample , the pXRF workstation is cleaned with pressurized air and paper towel.

Certified reference materials and blanks are inserted into the sample sequence every 20 th sample.

About RAB Drilling

Kingfisher is using rotary air blast (RAB) drills as a cost effective and efficient first pass exploration tool.

The RAB is a heli -portable, track mounted drill that can drill a wide range of dips (50 -90°) to depths of up

to 100 meters. Rock cuttings from the drill hammer are returned to surface between the outside of the rods

and the open hole. Under certain conditions, cross contamination between samples is a concern. The assay

results from the RAB drill provide a strong indication of the grade and thickness of gold intercepted in a

given hole. Kingfisher intends to follow up encouraging RAB assay results with a diamond drill to fully

quantify the grade and thickness of these mineralized intercepts.

Qualified Person

Dustin Perry, P.Geo., Kingfisher’s CEO, is the Company’s Qualified Person as defined by National

Instrument 43-101, Standards of Disclosure for Mineral Projects, and has prepared the technical information

presented in this release.

About Kingfisher Metals Corp.

Kingfisher Metals Corp. (https://kingfishermetals.com/) is a Canadian based exploration company focused

on underexplored district-scale projects in British Columbia. Kingfisher has three 100% owned district-scale

projects that offer potential exposure to high -grade gold, copper, silver, and zinc. The Company currently

has 103,007,272 shares outstanding.

For further information, please contact:

Dustin Perry, P.Geo.

CEO and Director

Phone: +1 778 606 2507

E-Mail: [email protected]

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX -

V) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization

hosted on the Company’s property. This news release contains forward-looking statements, which relate to

future events or future performance and reflect management’s current expectations and assumptions. Such

forward-looking statements reflect management’s current beliefs and are based on assumptions made by

and information currently available to the Company. All statements, other than statements of historical fact,

are forward -looking statements or information. Forward -looking statements or information in this news

release relate to, among other things: formulation of plans for drill testing; and the success related to any

future exploration or development programs.

These forward -looking statements and information reflect the Company’s current views with respect to

future events and are necessarily based upon a number of assumptions that, while considered reasonable

by the Com pany, are inherently subject to significant operational, business, economic and regulatory

uncertainties and contingencies. These assumptions include; success of the Company's projects; prices

for gold remaining as estimated; currency exchange rates remain ing as estimated; availability of funds for

the Company's projects; capital, decommissioning and reclamation estimates; prices for energy inputs,

labour, materials, supplies and services (including transportation); no labour - related disruptions; no

unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses

and regulatory approvals are received in a timely manner; and the ability to comply with environmental,

health and safety laws. The foregoing list of assumptions is not exhaustive.