ML GOLD Provides Corporate Update
Suite 2000 – 1177 West Hastings St
Vancouver, BC Canada V6E 2K3
T: 604-669-2279 / F: 604-602-1606
May 23nd, 2019
ML GOLD PROVIDES CORPORATE UPDATE
ML Gold Corp. (TSX-V: MLG; FSE: XOVN.F) (“ML Gold” or the “Company”) provides an update on its Block
103 Iron Ore project located in the heart of the Labrador Trough in Newfoundland and Labrador, Canada.
Recent increases in the iron ore price have renewed interest in the Company’s wholly owned Block 103
iron ore project. Given the positive outlook and price of iron ore and the attractive currency exchange
rate for Canadian producers, the Company is currently communicating with engineering firms to update
the 2013 Preliminary Economic Assessment (“PEA”). The 2013 PEA was based on the 7.2 billion tonne iron
ore resource estimate for the Block 103 project and the production of a premium iron ore pellet.
Since the completion of the PEA in 2013 much has changed in the market for iron ore and in the specifics
regarding development of iron ore projects in the Labrador Trough. In addition, government investment
in infrastructure including rail, shipping port and power has increased dramatically.
The Block 103 Iron Ore Project
The Block 103 project was discovered in 2011 and advanced by the Company to the PEA stage. The initial
resource on the Block 103 project included a total of 7.2 billion tonnes at 29.2% total iron with
metallurgical test results showing a 69.5% iron concentrate, 67% premium pellet product, and low 0.4:1
strip ratio. The project has seen approxima tely 38 million in capital previously deployed de -risking and
advancing the asset.
The Project is located in the heart of the Labrador Trough, Newfoundland and Labrador, approximately
30 km northwest from the t own of Schefferville, Q uebec and 1,200 k ilometres by air northeast of
Montréal, QC. Previous work by the Company includes geological mapping, geophysical surveys and
diamond drilling program s. Total drilling now stands at 115 drill holes aggregating over 28,000 metres.
Two zones of mineralizatio n have been defined on the Property; namely the Northwest Zone and the
Greenbush Zone where the focus of the mineral resource estimate has been on the Greenbush Zone.
Additional information is available on the Block 103 Project page at www.mlgoldcorp.com
Disclaimer
Adrian Smith, P.Geo., is Qualified Person as defined by National Instrument 43 -101 for the above
mentioned project. The QP is a member in good standing of the Association of Professional Engineers and
Geoscientists of British Columbia (APEGBC) and the Professional Engineers & Geoscientists Newfoundland
& Labrador (PEGNL) as a registered Professional Geoscientist (P.Geo.). Mr. Smith has reviewed and
approved the technical information disclosed above.
Suite 2000 – 1177 West Hastings St
Vancouver, BC Canada V6E 2K3
T: 604-669-2279 / F: 604-602-1606
The Mineral Resource estimate for the Block 103 Property is based on results from 81 diamond drill holes
totaling 23,735 metres and is effective as of February 4, 2013. Mr. Michael Kociumbas, P.Geo., and Mr.
Rick Risto, P.Geo., both with independent firm WGM, are Qualified Persons as defined by NI 43-101. Mr.
Risto has reviewed and approved the underlying sampling, analytical and test data used for the estimate
and Mr. Kociumbas is responsible for auditing the in-house Mineral Resource estimate as supplied by the
Company and has approved the technical data contained above.
WGM is of the opinion that the iron mineralization delineated on the property will be amenable to open
pit mining. The estimate is classified as an Inferred Mineral Resource, consistent with the CIM definitions
referred to in NI 43-101. Mineral resources, which are not mineral reserves, do not have demonstrated
economic viability. The Company is not aware of any environmental, permitting, legal, title, taxation,
socio-political, marketing or other issues which may materially affect its estimate of Mineral Resources.
ABOUT ML GOLD CORP.
ML Gold Corp. is a Canadian listed Company, focused on creating shareholder value through discoveries
and strategic development of mineral properties in North America. For additional information please visit
the Company’s website at www.mlgoldcorp.com. You may also email [email protected] or call
investor relations at (604) 669-2279.
ML GOLD CORP.
“Adrian Smith”
Adrian Smith
President
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.
This news release may contain certain “Forward -Looking Statements” within the meaning of the United States Private Securities
Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words
“anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedu le” and similar words or expressions
identify forward-looking statements or information. These forward-looking statements or information may relate to future prices
of commodities, accuracy of mineral or resource exploration activity, reserves or resource s, regulatory or government
requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructu re,
currency risks including the exchange rate of US$ for CDN$, changes in exploration costs and gover nment royalties or taxes in
Canada, the United States or other jurisdictions and other factors or information. Such statements represent the Company’s
current views with respect to future events and are necessarily based upon a number of assumptions and es timates that, while
considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and so cial
risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements
to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-
looking statements. The Company does not intend, and does not assume any obligation, to update these forwa rd-looking
statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such
statements and information other than as required by applicable laws, rules and regulations.