St. James GOLD Corp. Obtains Initial Positive Results from Induced Polarization Survey ON Quinn Lake Property Adjacent to Marathon’S Valentine GOLD Project Being Advance to Production IN Newfoundland, Canada
ST. JAMES GOLD CORP. OBTAINS INITIAL POSITIVE RESULTS FROM INDUCED
POLARIZATION SURVEY ON QUINN LAKE PROPERTY ADJACENT TO
MARATHON’S VALENTINE GOLD PROJECT BEING ADVANCE TO PRODUCTION
IN NEWFOUNDLAND, CANADA
Not for distribution to U.S. news wire services or dissemination in the United States.
Vancouver, British Columbia, May 6, 2022 - St. Jame s Gold Corp. (the “Company”) (TSXV:
LORD) (OTCQB: LRDJF) (FSE: BVU3) has received initial positive results from an Induc ed
Polarization (IP) survey on the Quinn Lake property in Newfoundland, Canada. To date Simcoe
Geoscience has completed and processed five of nine IP profiles. The IP survey has delineated an
anomaly over 1.7 km of the 3.5 km in length zone to be tested, with additional lines in progress. The
Quinn Lake property adjoins the eastern margin of M arathon Gold’s Valentine Gold Project is flanked to
the east by Canterra Minerals Corp. Wilding Gold Project (Figure 1, below).
The Company has compiled geological and geophysical field data on the property including historical IP
surveys that cover portions of the Quinn Lake Prope rty. The results of the historical survey show a n ear
surface chargeability anomaly. The current IP surve y will achieve additional IP coverage of the
prospective zone and determine the full extent of t he chargeability anomaly. The Company intends to
complete a surface geochemical survey on the proper ty following up on the results of the IP survey for
further drill hole targeting.
Marathon’s Valentine Gold Project contains a series of five mineralized deposits: the Leprechaun, Spri te,
Berry, Marathon, and Victory along a 20-kilometre s ystem. An April 2021 feasibility study outlined an
open pit mining and conventional milling operation over a 13-year mine life with a 31.5-per-cent after-tax
rate of return. The Valentine Gold Project has est imated proven mineral reserves of 1.40 million ounc es
(29.68 million tonnes at 1.46 grams per tonne) and probable mineral reserves of 650,000 ounces (17.38
million tonnes at 1.17 g/t). Total measured mineral resources (inclusive of the mineral reserves) comprise
1.92 million ounces (32.59 million tonnes at 1.83 g /t) with indicated mineral resources (inclusive of the
mineral reserves) of 1.22 million ounces (24.07 mil lion tonnes at 1.57 g/t). Additional inferred mine ral
resources are 1.64 million ounces (29.59 million to nnes at 1.72 g/t Au). Readers should refer to the
Marathon’s filings made with the Canadian securitie s regulatory authorities and available
at www.sedar.com for further details and assumptions related to the Valentine Gold Project. The reader is
cautioned that the presence of the above discussed mineralization on the nearby property does not
necessarily indicate that any such mineral resource may be discovered on the Quinn Lake Property, or i f
discovered that it may be economically recoverable.
The prospective contact between the igneous trondhj emite (tonalite) with the Rogerson Lake
Conglomerate is within proximity to the Valentine L ake shear Zone. This is a key contact and feature of
the multiple Marathon discoveries. The Valentine L ake Shear Zone trends from the Marathon trend of
discoveries through the Quinn Lake Property and further to the east onto Canterra’s Wilding Gold Project.
The Quinn Lake Property also straddles the Valentine Lake Shear Zone and Rogerson Lake Conglomerate
which are spatially related to gold mineralization in the area.
George Drazenovic, CEO of St. James Gold comments, “We are very pleased with the initial results
from the ongoing Induced Polarization survey. The preliminary IP data is encouraging and will help
focus future exploration work on the property.”
Additionally, Jay Jiang Yu, Chairman and President of St. James Gold states, “One of my initiatives
is to unlock the value of our Newfoundland property holdings in this region of intense recent gold
exploration.”
Dr. Stewart Jackson, P.Geo., senior technical advis or geologist, and a Qualified Person within the
meaning of National Instrument 43-101 (Standards of Disclosure for Minerals Projects), has reviewed and
approved the technical and scientific information presented herein as accurate and has approved this news
release.
About St James Gold Corp.
St. James Gold Corp. is a publicly traded company listed on the TSX Venture Exchange under the trading
symbol “LORD”, in the U.S. Market listed on OTCQB u nder "LRDJF" and on the Frankfurt Stock
Exchange under “BVU3”. The Company is focused on cr eating shareholder value through the discovery
and development of economic mineral deposits by acq uiring prospective exploration projects with well-
delineated geological theories; integrating all available geological, geochemical, and geophysical datasets;
and financing efficient exploration programs. The C ompany currently holds: (i) 100-per-cent stake in 2 9
claims, covering 1,791 acres, in the Gander gold di strict in north-central Newfoundland located adjace nt
to New Found Gold Corp.'s Queensway North project; and (ii) a 100-per-cent stake in 9 claims and an
option to acquire a further 100-per-cent interest i n 19 claims, covering a total 1,730 acres, in centr al
Newfoundland located adjacent to Marathon Gold's Va lentine Lake property; and (iii) an option to
acquire up to an 85-per-cent interest in the Florin Gold Project, covering nearly 22,000 contiguous ac res
in the historical Tintina gold belt in Yukon Territory, Canada.
For more corporate information please visit: http://stjamesgold.com/
St. James Gold Corp.
For further information, please contact:
George Drazenovic, Chief Executive Officer
Tel: 1 (800) 278-2152
Email: [email protected]
Forward Looking Statements
This news release contains forward-looking statemen ts and forward-looking information within the
meaning of Canadian securities laws (collectively, “ forward-looking statements ”). Forward-looking
statements in this news release relate to, among ot her things: the issuance of common shares pursuant to
the exercise of options and all other statements th at are not historical facts, particularly statement s that
express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events
or performance of the Company. Often, but not alway s, forward-looking statements can be identified
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the relevant time in light of its experience and pe rception of historical trends, current conditions a nd
expected future developments, as well as other fact ors that are believed to be appropriate and reasona ble
in the circumstances. Forward-looking statements co ntained in this news release are made as of the dat e
of this news release and the Company will not updat e any such forward-looking statements as a result o f
new information or if management’s beliefs, estimat es, assumptions or opinions change, except as
required by law. There can be no assurance that for ward-looking statements will prove to be accurate, as
actual results and future events could differ mater ially from those anticipated in such statements.
Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
Forward-looking statements involve known and unknow n risks, uncertainties and other factors, many of
which are beyond the Company’s control, which could cause actual results, performance, achievements
and events to differ materially from those that are disclosed in or implied by such forward-looking
statements. Such risks and uncertainties include, b ut are not limited to, the impact and progression o f the
COVID-19 pandemic and other factors outlined in the Company’s Annual Information Form dated July
26, 2021 (the “ AIF ”) filed under the Company’s profile on SEDAR at ww w.sedar.com. The Company
cautions that the list of risk factors and uncertai nties described in its AIF on SEDAR are not exhaust ive
and other factors could materially affect its results.
New factors emerge from time to time, and it is not possible for the Company to consider all of them, or
assess the impact of each such factor or the extent to which any factor, or combination of factors, ma y
cause results to differ materially from those conta ined in any forward-looking statement. Any forward-
looking statements contained in this news release a re expressly qualified in their entirety by this
cautionary statement.
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