St. James GOLD Provides Update ON Florin GOLD Project
ST. JAMES GOLD PROVIDES UPDATE ON FLORIN GOLD PROJECT
Vancouver, British Columbia, July 27th, 2022 - St. James Gold Corp. (the “ Company” or “St. James”)
(TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3) is pleased to announce that it has received access to
diamond drill core, drill logs and assay data from previous drill campaigns at the Florin Project located 60
km northwest of Mayo, Yukon Territor y, Canada which is host to the Florin Inferred Gold Resource of
2,474,000 oz gold contained in 170,993,000 tonnes grading 0.45 g/t with a cut-off of 0.30g/t1 (the “Florin
Inferred Resource”).
Highlights of Assay Data
• A new Zone , delineated by St James 20 21 work, several hundred metres outside of the existing
Florin Inferred Resource with a geochemical and geophysical footprint of approximately 2 km x 1
km, larger by 3x than the geochemical footprint of the existing Florin Inferred Resource.
• Five previously unreported, 2003-2004 diamond drill holes and assays from this area have recently
been recovered, and results will be released when verified
• Data for many additional holes is expected to be recovered, and cores will be re -logged and
assayed given the more than 500% increase in gold price since 2003.
St. James has received access to the laboratory assay certificates and the drill core pertaining to several
core holes drilled in 2003-2004. Details are anticipated for additional drill holes, with results to be released
when verified. At that time the av erage price of gold ranged between USD 364 - USD 410 per ounce Au
and only multi-gram gold drill intercepts were considered to be of economic interest. . Verification of the
data obtained will be carried out, with results to be released following verification.
Both prior to and during 2021, the Treadwell area was the target of soil sampling programs by St James
that show a one kilometre by two -kilometre gold in soil anomaly . The historic holes fall within the
Treadwell North area which is located 400 metres from the edge of the Florin Inferred Resource Whittle
pit-shell.
During the 2021 season, diamond coring hole DDH 21-068 targeted the periphery of the Treadwell North
and returned mineralization down the length of the hole ( see St. James’ News Release dated April 12 th,
2022). In the same general area, the Treadwell Adits returned multi-gram gold 15.8 g/t Au, 11.15 g/ t Au
and 14.85 g/t Au values from grab samples taken during 2021 (St. James’ News Release dated April 29th,
2022 and Figure 1)*.
1 The Florin Gold Project contains an inferred resource of 2,474,000 oz gold contained in 170,993,000 tonnes grading 0.45 g/t with
a cut-off of 0.30g/t, at a $1,650 gold price. For additional information, see the Technical Report prepared in accordance with
National Instrument 43-101 entitled Florin Gold Project NI 43-101 Technical Report, Mayo and Dawson Mining Districts, Yukon
Territory, by Ronald G Simpson, P.Geo. of GeoSim Services Inc., dated April 6, 2021, a copy of with is available under the
Company’s SEDAR profile.
Figure 1: Location of Recovered Historical Holes in the Treadwell North area relative to the
Florin Inferred Resource*
*The reader is cautioned that grab samples are selected samples and may not be representative of the overall
grade of material from this region.
Status of Drilling and Option Agreement
St James announces it has completed two drill holes. The first hole was drilled to depth of 419 meters and
the other drill hole was drilling to a depth of 432 meters. The a ssay results w ill be announced when
available.
St. James also announces that it has suspended drilling on the Florin Gold Project due to current market
conditions. St. James is currently in default of its obligations under the option agreement, as amended (the
“Option Agreement”) with Florin Resources Inc. (“Florin”).
St. James is currently trying to renegotiate certain of the terms of the Option Agreement with Florin;
however, there is no assurance that the Option Agreement will be satisfactorily renegotiated with Florin, or
renegotiated before the end of the cure period. As a result, St. James may need to obtain additional financing
in order to satisfy its obligations under the Option Agreement and to meet its firm cash comm itments
thereunder.
Dr. Stewart Jackson, P.Geo., senior technical advisor 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 under "LRDJF" and on the Frankfurt Stock
Exchange under “BVU3”. The Company is focused on creating shareholder value through the discovery
and development of economic mineral deposits by acquiring prospective exploration projects with well -
delineated geological theories; integrating all available geological, geochemical, and geophysical datasets;
and financing efficient exploration programs. The Company currently holds: (i) 100 -per-cent stake in 29
claims, covering 1,791 acres, in the Gander gold district in north-central Newfoundland located adjacent 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 in 19 claims, covering a total 1,730 acres, in central Newfoundland
located adjacent to Marathon Gold's Valentine 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 acres in the historical Tintina
gold belt in Yukon Territory, Canada (Figure 2).
Figure 2: Location of Florin Gold Project
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 statements and forward -looking information within the
meaning of Canadian securities laws (collectively, “ forward-looking statements”). All other statements
that are not historical facts, particularly statements that express, or involve discussions as to, expectations,
beliefs, plans, objectives, assumptions or future events or performance of the Company. Often, but not
always, forward-looking statements can be identified through the use of words or phrases such as “will
likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”,
“estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”. Forward-
looking statements contained in this news release are made based on reasonable estimates and assumptions
made by management of the Company at the relevant time in light of its experience and perception of
historical trends, current conditions and expected future developments, as well as other factors that are
believed to be appropriate and reasonable in the circumstances. Forward -looking statements contained in
this news release are made as of the date of this news release and the Company will not update any such
forward-looking statements as a result of new information or if management’s beliefs, estimates,
assumptions or opinions change, except as required by law. There can be no assurance that forward-looking
statements will prove to be accurate, as actual results and future events could differ materially 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 unknown 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, but are not limited to, the impact and progression of 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 www.sedar.com. The Company cautions that the
list of risk factors and uncertainties described in its AIF on SEDAR are not exhaustive 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, may cause
results to differ materially from those contained 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.
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.