Idaho Champion Gold Begins IP Ground Geophysics at Past Producing Champagne Gold Project

Idaho Champion Gold Begins IP Ground

Geophysics at Past Producing

Champagne Gold Project

Geophysics to provide new insight on 10 square mile property package

Toronto, ON – October 15, 2020 - Idaho Champion Gold Mines Canada Inc. (CSE: ITKO)

(OTCQB: GLDRF) (FSE: 1QB1)(“Champion” or the "Company"), announces the start of

an Induced Polarization and Resistivity (IP) ground geophysics survey as part of its 2020

exploration program on the past-producing Champagne Gold Project in Idaho, USA.

Highlights

The IP survey will assist with the identification and mapping of alteration and sulfide

mineralization related to the postulated high-sulfidation gold-silver system at the

Champagne property. Surface mapping has delineated a large area of argillic to

advanced-argillic alteration and breccia pipes with variable silicification and sulfidation.

There are a number of historic gold, silver, and base metal mines and prospects across

the large land position. The Company expects the IP results combined with geologic

mapping and soil geochemistry to identify high-quality targets for core drilling.

Soil samples will be collected along the IP lines at a 30-meter spacing and then will be

submitted to ALS Global in Reno, Nevada for analysis. The technical team conducted a

successful orientation survey during which soil sampling was shown to be effective at

detecting mineralized structures and prospects. Based on those results, the team

expects to collect approximately 400 samples targeting B-horizon soils. ALS Global will

analyze the samples for trace gold along with silver and a large suite of other major and

trace elements.

Durango Geophysical Operations (Durango, Colorado) will acquire, process and provide

interpretation on a 12 line-kilometer program with IP data acquired with a 200-meter,

pole-dipole array using a Phoenix Geophysics V-8 Multifunction IP Receiver and TXU-30

(20KW) Transmitter System. This survey configuration is designed to effectively

investigate the upper 500+ meters of the Champagne Project area.

About the Champagne Project

The Champagne Mine* was operated by Bema Gold as a heap leach operation on a high

sulfidation gold system that occurs in volcanic rocks. Bema Gold drilled 72 shallow reverse

circulation holes on the project, which complement drilling and trenching from other

previous operators. The property has had no deep drilling or significant modern exploration

since the mine closure in early 1992.

The Champagne Deposit contains epithermal style gold and silver mineralization that

occurs in strongly altered Tertiary volcanic tuffs and flows of acid to intermediate

composition. Champagne has a near surface cap of gold-silver mineralization emplaced

by deep-seated structures that acted as conduits for precious metal rich hydrothermal

fluids. Higher grade zones in the Champagne Deposit appear to be related to such feeder

zones.

* The Company cautions that the information about the past-producing mine may not be

indicative of mineralization on Champion’s property, and if mineralization does occur, that

it will occur in sufficient quantity or grade that would result in an economic extraction

scenario. The historic data were simply used to evaluate the prospective nature of the

property. The Company has not yet conducted sufficient exploration to ascertain if a

mineral resource is present on the property.

Qualified Person

The technical information in this press release has been reviewed and approved by Peter

Karelse P.Geo., a consultant to the Company, who is a Qualified Person as defined by NI

43-101. Mr. Karelse has more than 30 years of experience in exploration and development.

About Idaho Champion Gold Mines Inc.

Idaho Champion is a discovery-focused gold exploration company that is committed to

advancing its 100% owned highly prospective mineral properties located in Idaho, United

States. The Company’s shares trade on the CSE under the trading symbol “ITKO” and

on the OTCQB under the trading symbol “GLDRF”, and on the Frankfurt Stock Exchange

under the symbol “1QB1”. Idaho Champion is vested in Idaho with the Baner Project in

Idaho County, the Champagne Project located in Butte County near Arco, and four cobalt

properties in Lemhi County in the Idaho Cobalt Belt. Idaho Champion strives to be a

responsible environmental steward, stakeholder and a contributing citizen to the local

communities where it operates. Idaho Champion takes its social license seriously,

employing local community members and service providers at its operations whenever

possible.

ON BEHALF OF THE BOARD

“Jonathan Buick”

Jonathan Buick, President and CEO

For further information, please visit the Company’s SEDAR profile at www.sedar.com or

the Company’s corporate website at www.idahochamp.com.

For further information please contact:

Nicholas Konkin, Marketing and Communications

Phone: (416) 477 7771 ext. 205

Email: [email protected]

THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE

SOLICITATION OF AN OFFER TO BUY ANY SECURITIES IN ANY JURISDICTION, NOR

SHALL THERE BE ANY OFFER, SALE, OR SOLICITATION OF SECURITIES IN ANY

STATE IN THE UNITED STATES IN WHICH SUCH OFFER, SALE, OR SOLICITATION

WOULD BE UNLAWFUL.

Cautionary Statements

Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for

the adequacy or accuracy of this press release This press release may include forward-looking information within the

meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based

on certain key expectations and assumptions made by the management of the Company. Although the Company believes

that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue

reliance should not be placed on the forward-looking information because the Company can give no assurance that they

will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press

release. The Company disclaims any intent or obligation to update publicly any forward looking information, whether as a

result of new information, future events or results or otherwise, other than as required by applicable securities laws.