RMD.V · 2021-08-25 12:00:00

Oberzeiring Polymetallic Project Exploration Update

Exploration Programs

Oberzeiring Polymetallic Project Exploration

Update

TORONTO

Aug. 25, 2021

/CNW/ -

Richmond Minerals Inc. ("Richmond" or the

"Company")

(TSXV: RMD) is pleased to provide an update for on-going fieldwork at the Company's

Oberzeiring Polymetallic Project (the "Project") located in the Styria mining district of central

Austria

Grab sampling during recent prospecting and mapping have identified two newly mineralized areas.

The first is located on the southwest side of Mount Gerschkogel at an elevation of

1,231 m

and

consists of ancient mine tailings with associated underground adits occupying an area of

approximately 7 ha. The age of these workings is unknown. Adits were in excellent condition

allowing for geologists to collect underground chip samples of observed mineralized vein systems

within the adits (see below samples 14565 – 14568). Additionally one sample was taken at a

prominent tailings pile in front of an old mine portal.

The second location of the sampling campaign was in adits of the Matthiasbaue medieval mine east

of the town of Oberzeiring. Rock chip samples (samples 14569 to 14573) were collected at several

underground locations in the observed vein systems. Results are provided below (note: all values

reported in ppm):

Sample

14565

0.05

81.30

0.16

22.90

0.10

2240

40.0

0.25

14566

1.53

178.00

0.04

39.20

0.08

1630

2350

96.5

27.70

14567

3.05

77.50

0.21

12.45

0.07

2880

3880

29.9

8.72

14568

1.81

18.00

0.37

32.40

0.35

2500

1060

740.0

10.45

14569

131.00

518.00

7.44

88.00

0.04

184

7.51%

59.2

>10000

14570

76.00

248.00

5.65

255.00

0.06

4300

1225

55.2

172.50

14571

4.79

570.00

2.50

9.57

0.02

847

3450

15.4

212.00

14572

52.80

48.20

9.48

35.10

0.02

323

3.22%

143.5

818.00

14573

1.66

95.70

0.06

2.09

<0.005

746

3260

6.2

129.00

Table 2: Analysis results from rock chip sampling (LR21158022)

Chip samples were sent to the ALS Laboratory in

Ireland

for analysis using multi-Element Super

Trace (ME-MS41L). Sample 14569 and 14573 had more than 1 % Pb and were analysed using

method Pb-OG62. Sample 14569 was analysed for silver using method OG46.

The geochemical data indicates at least 2 different (Pb-Zn) mineralization types. The high grade type

is associated with enriched lead, zinc, silver and antimony. Random chip samples of this type reach

silver contents up to 131 ppm, lead content of 7.51 %, and antimony values in excess of 10,000

g/tonne. The low grade type shows lead values up to 3880 ppm lead but zinc enrichments up to

8740 ppm.

Also of significance is that the latest underground sampling results continue to confirm data reported

in historical reports.

Next Steps to be done in September/

October 2021

Further detailed underground mapping of Matthiasbaue

Re-evaluation of existing geophysical exploration results

Development of a preliminary 3 D Model of Purgstallofen area

Definition of targets for drilling

Establishment of strong stakeholder relationships according to Richmond´s CSR ethics.

Warren Hawkins, P.Eng in his capacity as Qualified Person under National Instrument Policy 43-

101 has reviewed and approved the technical information contained within this press release. Mr.

Hawkins is not considered to be independent of Richmond Minerals Inc. as he owns securities in the

Company.

CAUTIONARY STATEMENT: This news release contains forward-looking information which is not

comprised of historical facts. Forward-looking information involves risks, uncertainties and other

factors that could cause actual events, results, performance, prospects and opportunities to differ

materially from those expressed or implied by such forward-looking information. Forward looking

information in this news release includes, but is not limited to,

Richmond's

objectives, goals or future

plans. Factors that could cause actual results to differ materially from such forward-looking

information include, but are not limited to, changes in general economic conditions and conditions in

the financial markets; the ability of

Richmond

to raise funds pursuant to future offerings; risks related

to infectious diseases such as COVID-19; changes in demand and prices for minerals; litigation,

legislative, environmental and other judicial, regulatory, political and competitive developments, and

those risks set out in

Richmond's

public documents filed on SEDAR. Although

Richmond

believes

that the assumptions and factors used in preparing the forward-looking information in this news

release are reasonable, undue reliance should not be placed on such information, which only applies

as of the date of this news release, and no assurance can be given that such events will occur in the

disclosed time frames or at all.

Richmond

disclaims any intention or obligation to update or revise

any forward-looking information, whether as a result of new information, future events or otherwise,

other than as required by law.

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies

of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

SOURCE

Richmond Minerals Inc.

View original content:

http://www.newswire.ca/en/releases/archive/August2021/25/c7766.html

%SEDAR: 00009282E

For further information:

Warren Hawkins, P. Eng., Exploration Manager, E:

[email protected], Tel: 416-603-2114

CO: Richmond Minerals Inc.

CNW 08:30e 25-AUG-21

← Back to feed