Prosper Gold Commences 10,000 Metre Diamond Drill Program at the Golden Sidewalk Project – Red Lake, ON
May 25th, 2021 TSXV: PGX
OTCQX: PGXFF
NEWS RELEASE
Prosper Gold Commences 10,000 Metre Diamond Drill Program at the
Golden Sidewalk Project – Red Lake, ON
Vancouver, British Columbia – May 25th, 2021 – Prosper Gold Corp. ("Prosper Gold" or the "Company")
(TSXV:PGX) is pleased to announce that the 2021 Phase 1 10,000 metre diamond drilling program has
commenced at the Golden Sidewalk Project (the “Project”). Drilling will focus on the newly identified
Golden Corridor target area. (for details of the Golden Corridor see the Company’s Dec. 1, 2020 news
release).
“Drills are turning for the first ever drill program at the Golden Corridor,” commented Peter Bernier, CEO.
“We are well financed for Phase 1 with $7 million in cash reserves and a planned $2.2 million budget. Our
crews have worked hard to get to this point only 9.5 months after acquiring the Project.”
Figure 1. Map showing first 10 planned drill holes relative to 2020 till samples and IP resistivity.
Exploration Drill Targeting
Ten drill hole locations are in place with subsequent drilling to be based on initial drilling results. The first
drill hole is collared 50 metres “up-ice” of till sample UC-13, which contained 882 pristine gold grains with
a concentration by weight of 110.8 g/t gold. A total of 5 holes are shown on the map in this area and will
consist of 50 metre and 100 metre step-outs from hole 1. The anomalous till coincides with a high priority
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target lineament based on geologic and geophysical interpretation data, supported by the recently received
IP resistivity results. The resistivity data collected in the 2021 IP survey clearly shows that the originally
interpreted lineaments continue eastward and exhibit a strong co rrelation with the anomalous till samples
received by the Company in 2020.
The remaining initial holes will focus in the immediate area of a cluster of highly anomalous pristine gold
grain-in-till samples, where a 2 nd target lineament will be tested approximately one kilometre to the
southwest. The results from the initial drilling of the Golden Corridor will aid in planning of the remaining
drill holes comprising the Phase 1, 10,000 metre program. Details will follow as the exploration season
progresses.
About the Golden Sidewalk
The Golden Sidewalk is a district -scale gold exploration project covering over 160 square kilometres of
contiguous mineral claims and mining leases (see the Company's Aug. 10, Sept. 8, and Sept. 15, 2020 news
releases for details) in the western Birch -Uchi Greenstone Belt, approximately 60 km east of Red Lake,
Ontario. The vehicle-accessible project straddles 12 kilometres of the Balmer Assemblage – Narrow Lake
Assemblage unconformity, a regional-scale feature that has been the Red Lake exploration guide, but which
has seen limited exploration in the project area. The recently identified “Golden Corridor” lies immediately
north of the unconformity in the western portion of the property and is characterized as a highly prospective,
greater than 5 kilometre trend of coincident favourable magnetic and resistivity lineaments supported by
highly anomalous gold-in-till samples covering 3.3 by 0.5 kilometres.
For a detailed overview of Prosper Gold visit www.ProsperGoldCorp.com
Qualified Person
The scientific and technical information in this news release has been reviewed by Rory Ritchie, P.Geo., a
Qualified Person under National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
Per: “Peter Bernier”
Peter Bernier
President & CEO
For further information, please contact:
Peter Bernier
President & CEO
Prosper Gold Corp.
Cell: (250) 316-6644
Email: [email protected]
Information set forth in this news release ma y involve forward -looking statements under applicable securities laws. Forward -
looking statements are statements that relate to future, not past, events. In this context, forward -looking statements often address
expected future business and financial perfo rmance, and often contain words such as "anticipate", "believe", "plan", "estimate",
"expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other
similar expressions. All statements, ot her than statements of historical fact, included herein including, without limitation,
statements about the planned exploration of the Golden Sidewalk project, are forward-looking statements. By their nature, forward-
looking statements involve known and un known risks, uncertainties and other factors which may cause our actual results,
performance or achievements, or other future events, to be materially different from any future results, performance or
achievements expressed or implied by such forward -looking statements. Such factors include, among others, the following risks:
the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; t itle
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matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among
certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the vo latility
of our common share price and volume and the add itional risks identified the management discussion and analysis section of our
interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable
Canadian securities regulations. Forward-looking statements are made based on management's beliefs, estimates and opinions on
the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs,
estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are
cautioned against attributing undue certainty to forward-looking statements.
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.