War Eagle Mining Company
War Eagle Mining Company
1100-1111 Melville Street | Vancouver, B.C. | Canada V6E 3V6
T: 1 604 681 7010 | [email protected] | www.wareaglemining.com
1
NEWS RELEASE
War Eagle Announces Results of Phase I Drilling on its
Goodfish Kirana Property, Kirkland Lake, Ontario
Vancouver, British Columbia – June 6, 2018 - War Eagle Mining Company Inc. (TSXV - WAR) (“War Eagle”
or the “Company”) is pleased to announce the preliminary Phase I drill results from the ongoing exploration
work program announced on March 28th, 2018, on the Company’s 100% owned 33 km2 Goodfish Kirana Project,
located in the Kirkland Lake gold district of Northern Ontario . The exploration program included groun d and
airborne geophysical surveys Magnetic & Very Low Frequency (“VLF”) , induced polarization (“IP”), and a five-
hole (610m) diamond-drilling campaign. These results will be used to further understand the structural geology
in order to plan future drill targets.
“The preliminary results of the Phase One drilling and geophysical surveys on the Goodfish Kirana Property
have provided us with valuable geological information” said Danièle Spethmann, President and CEO of War
Eagle. “The assay results, the structural inf ormation and the geophysical data are fundamental to guiding the
project and provide us with the technical foundation needed to make decisions going forward and in particular
our summer program which is now being planned.
Phase I Drill Program
The structurally orientated drilling program was designed to test three of the four structural zones identified by
previous work (NI43-101, Tom Setterfield, PhD, P.Geo. January 2, 2018). These holes were designed to verify
and interpret the structure, lithology and pathfinder elements of the following gold-bearing zones on the Goodfish
property (Figure 1) in this press release:
• Kirana Deformation Zone (DDHs GK18-001 & -002),
• Goodfish A Zone (DDHs GK18-003) and,
• Goodfish B Zone (DDHs GK18-004 & -005).
Highlights from Phase 1 Exploration diamond drilling include:
• All holes intersected mineralization which is, in general, structurally associated with the contacts of Quartz
Feldspar Porphyry dykes that are sheared. For the most part, the mineraliz ation is associated with pyrite
which is indicated by IP anomalies.
• The Goodfish ‘A’ Zone/ Goodfish 1934 Mine returned the most interesting values of 1.20 g/t Au over 10.53
m in a halo of 0.87 g/t Au over 16.0 m (Figure 2) in the press release.
Table 1. Selected intercepts from the Phase I drill program.
Hole From
(m)
To
(m)
Length
(m)
Au
(g/t) Easting Northing Azimuth Dip Length
(m)
GK18-001 66.00 67.00 1.00 1.05 574069.27 5338127.53 175 -60 111.00
GK18-002 69.00 69.85 0.85 1.46 574069.27 5338127.53 175 -45 99.00
GK18-003 117.97 128.50 10.53 1.20 573774.08 5338827.01 210 -50 197.41
Mineralized
halo 112.50 128.50 16.00 0.87
GK18-004 6.47 7.89 1.42 2.89 573724.88 5339403.08 140 -45 106.50
GK18-004 58.30 58.80 0.50 6.72
GK18-005 53.63 54.19 0.56 1.19 573724.69 5339402.75 140 -45 96.00
For Immediate Release – June 6, 2018
War Eagle Mining Company
1100-1111 Melville Street | Vancouver, B.C. | Canada V6E 3V6
T: 1 604 681 7010 | [email protected] | www.wareaglemining.com
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NEWS RELEASE
Geophysical Results
Results from the recently completed ground geophysical programs conducted over the Patents area of the
Goodfish Kirana block have been interpreted by Bill Doerner of SourceOne Geophysical and are summarized
in this press release (Figure 3).
• Results from the magnetic ground survey over the patents show a strong north-south orientation with high
amplitude magnetic features, that correspond to the prevalent strike direction of the mapped mafic rock
units (Figure 3). The north-south magnetic lineaments are disrupted by a series of NW-SE striking offsets
that are interpreted to be important structural features.
• Multiple ground VLF conductive anomalies, also having a north-south orientation, were identified and show
good correlation to areas of anomalous IP response and to areas of historic mining activity in the vicinity
of the Goodfish #4 and #5 shafts. The VLF results may be indicating the extension of structures associated
with mineralized zones.
• The IP survey results have identified five high chargeability anomalous zones interpreted to represent a
response from mineralization in areas of known sulfide occurrence s and several new locations. The high
chargeability IP locations appear related to the NW -SE striking structural offsets present in the magnetic
survey results, indicating that the structures may contain mineralization.
• An area of high chargeability has been identified on the west end of Line 39100N. The IP high is coincident
with historic shallow-drilling of mineralization which will be further tested by War Eagle.
• A high IP response occurs coincident with the Goodfish #5 shaft and extends south to the Goodfish #4
shaft. The IP resp onse indicates that a zone of sulfide mineralization may extend for at least 300 m in a
north-south orientation.
• The highest IP chargeability anomaly is present in the south-east section of the Patents block. The anomaly
lies on the NW -SE structural break that connects to the Goodfish ’s #5-shaft anomalous IP zone. This IP
anomaly suggests that the source is approximately 100 m deep and is open at depth and to the east. This
target has not been drilled tested.
The review of the ground geophysical program recently completed on the Patents has indicated the presence
of important structural features and several anomalous areas of high IP chargeability that represent ideal drill
targets. Inversion of the historical IP data i s underway in an effort to more a ccurately direct future drilling
efforts.
The results of the recently completed 942 km airborne magnetic and VLF surveys (Figure 4) have been
delivered and will be incorporated into the geophysical interpretation.
Corporate Update
War Eagle is also pleased to announce the hiring of Ms. Joanne Jobin, Principal and Founder of Investor
Relations Services Inc. (“IR.INC”) as Investor Relations Consultant to the Company. Ms. Jobin is a seasoned
Investor Relations and Corporate Developmen t professional with over 25 years of global investor relations,
public relations, corporate affairs, corporate development and communications experience in the natural
resource sector. IR.INC, is an established international Investor Relations Company consulting to junior, mid-
tier and blue-chip mining, and oil and gas clients. Ms. Jobin, has strong, key relationships in the financial and
mining industry sectors and will assist War Eagle’s management in building and developing its profile as well
as develop an IR plan and assist management with its practical Investor Relations duties. Under the terms
of an investor relations consulting agreement between War Eagle and IR.INC effective May 16, 2018, War
Eagle will pay IR.INC a monthly fee of $6,000 for strate gic investor relations services for a one year period,
terminable by either party at any time after six months, upon providing 60 days written notice.
Qualified Person
Tom Neelands, P. Geo., Chief Geologist of War Eagle, is a “qualified person” within the meaning of National
Instrument 43-101 and has reviewed and approved the technical information in this news release.
War Eagle Mining Company
1100-1111 Melville Street | Vancouver, B.C. | Canada V6E 3V6
T: 1 604 681 7010 | [email protected] | www.wareaglemining.com
3
NEWS RELEASE
Quality Control
War Eagle Mining uses a quality-control program that includes insertion of blanks and commercial standards
in order to ensure best practice in sampling and analysis.
HQ size drill core is sawn in half with a diamond saw. Samples are selected for analysis in standard intervals
according to geological characteristics such as lithology and hydrothermal alteration.
Most of the diamond drill core was sampled at 1.5 m intervals. The smallest sample interval was 0.55 m. A
standard/blank was inserted every 25 samples. The samples were analyzed by AR (aqua regia) digestion;
any samples over 500 ppb were re-analyzed using the fire assay method. In addition, multielement analysis
by XRF and ICP were completed. The ICP showed good correlation of gold (Au) with the following elements:
Ag, As, Ce, Cu, Hg, Mo, Pb, Sb, and Te.
About War Eagle Mining Company
War Eagle is a TSX V enture Exchange listed company focused on the exploration of mineral resource
properties in northern Ontario, Canada, with a focus on gold deposits. The Company’s Goodfish Kirana
Project is a 10 km long by 3 km wide land package with numerous historical g old showings and significant
structural breaks that has been under -explored with modern technology, providing an exciting and unique
discovery opportunity. The Goodfish Patents are located within the significant land position held by the
Company located i n the Kirkland Lake Gold Camp five kilometers from the center of the Town of Kirkland
Lake, Ontario, Canada.
For additional information please contact:
Danièle Spethmann, P.Geo,
President & CEO,
War Eagle Mining Company Inc.
(647) 344-3433
Malcolm Burke
Director
War Eagle Mining Company
(604) 220-2000
Joanne Jobin
Investor Relations Officer
War Eagle Mining Company
(647) 964 0292
This news release was prepared by management of War Eagle, which takes full responsibility for its contents as it relates
to War Eagle.
Neither the 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.
Forward-Looking Statements: This press release contains forward-looking statements. Forward-looking statements are
frequently characterized by words such as "plan", "expect", "project", "intend", "believe", “anticipate", "estimate", "may",
"will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or
"will" occur. The forward -looking statements are based on certain key expectations and assumptions made by the
Company. Although War Eagle believes that the expectations and assumptions on which the forward-looking statements
are based are reasonable, undue reliance should not be placed on the forward -looking statements because War Eagle
can give no assurance that they will prove to be correct. Since forward -looking statements address future events and
conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ mate rially from
those currently anticipated due to a number of factors and risks. In addition to other risks that may affect the forward -
looking statements in this press release are those set out in the Company’s management discussion and analysis of the
financial condition and results of operations for the year ended March 31, 2017 and the third quarter ended December
31, 2017, which are available at www.sedar.com. The forward -looking statements contained in this press release are
made as of the date hereof an d War Eagle undertakes no obligation to update publicly or revise any forward -looking
statements or information, whether as a result of new information, future events or otherwise, unless so required by
applicable securities laws.
War Eagle Mining Company
1100-1111 Melville Street | Vancouver, B.C. | Canada V6E 3V6
T: 1 604 681 7010 | [email protected] | www.wareaglemining.com
4
NEWS RELEASE
Figure 1. Diamond drill hole location on Goodfish Patents with LiDAR base map.
War Eagle Mining Company
1100-1111 Melville Street | Vancouver, B.C. | Canada V6E 3V6
T: 1 604 681 7010 | [email protected] | www.wareaglemining.com
5
NEWS RELEASE
Figure 2. Section looking west of GK18-003, EOH197.1 m.
War Eagle Mining Company
1100-1111 Melville Street | Vancouver, B.C. | Canada V6E 3V6
T: 1 604 681 7010 | [email protected] | www.wareaglemining.com
6
NEWS RELEASE
Figure 3: Geophysical interpretation map with suggested future drill locations indicated.
War Eagle Mining Company
1100-1111 Melville Street | Vancouver, B.C. | Canada V6E 3V6
T: 1 604 681 7010 | [email protected] | www.wareaglemining.com
7
NEWS RELEASE
Figure 4. High Resolution Aeromagnetic Horizontal Gradient
Property Land Position – Goodfish Kirana Property.