Solstice Gold Announces Results from 2020 exploration ‐Three extensive bedrock source areas for gold‐bearing boulders identified‐
Solstice Gold Announces Results from 2020 exploration
‐Three extensive bedrock source areas for gold‐bearing boulders identified‐
Vancouver‐‐(October 20, 2020) – Solstice Gold Corporation (TSXV:SGC) (“Solstice”, the “Company”, “its”, “we” or “our”) is pleased
to announce that the Company has completed its summer 2020 fiel d program at its 886 km 2 KGP project, located only 26 km from
Rankin Inlet, Nunavut and within seven km of the low cost Melia dine gold mine owned by Agnico Eagle Mines Ltd which began gold
production in 2019*. Mapping and sampling on the KGP were carri ed out within a large, 40 km 2 area of gold‐bearing boulders to
identify potential source areas as drill targets.
“With this new, focused work we have identified likely bedrock sources within this very extensive, gold‐bearing boulder field.
Collectively, we now have five well‐constrained drill‐ready target areas, which are up to 5km long and large enough to host
significant potential gold deposits. “In our view, the KGP occupies the eastern extension of the emerging Meliadine Gold District but,
unlike many of the gold belts elsewhere in Canada, it is virtually unexplored. Through our extensive land holdings, we offer unrivalled
exposure to exploration in this politically safe, high geological potential region” stated David Adamson, Chairman.
Results are summarized below:
Three well‐defined areas of proximal gold‐bearing boulders have been identified which point to a local bedrock source. These are the
EWIF, South and QIF targets (Figure 1). Collectively, gold val ues range from less than detection to 66.7 g/t gold (Figure 1). Summary
statistics of boulder field samples are provided in Table 1 along with data for specific targets areas described in this release. Auriferous
boulders are predominantly chert‐magnetite‐grunerite iron formation and are associated with 2 – 20% pyrrhotite, pyrite and/or
arsenopyrite. Quartz veins are often present in the iron formation boulders but many are just sulphidic.
‐ EWIF is a 4.5 km long east‐west oriented iron formation bounded by major faults and defined by local boulder trains
and subcrop (shallow, buried outcrop). EWIF is interpreted to be a meta‐sedimentary structural panel between
granitic rocks to the north and a diverse package of gneisses w ith supracrustal lenses to the south. Arsenopyrite‐
bearing iron formation boulders and subcrop along the trend of the iron formation are consistently auriferous with
gold values from this target of 7.0 g/t Au in 2020 sampling (see Table 1) and up to 34.9 g/t Au further down ice. This
target is untested by drilling.
‐ The Southern Target is marked by auriferous samples collected n orth (i.e., up ice direction) of the EWIF and must
therefore have a separate source. Gold‐bearing boulders in this area are also angular and abundant. It is likely that
this target extends eastwards beneath the southern part of Enterprise Lake. This target is untested by drilling.
‐ The QIF target is an area of mineralized iron formation boulders and subcrop which define a proximal bedrock source
striking towards Enterprise Lake. Maximum gold values in this a rea are 54.9 g/t Au (6.2 g/t Au in 2020 sampling
further east).
‐ The South and QIF target areas trend towards Enterprise Lake. Well developed ele ctromagnetic anomalies in this
area (Figure 1) comprise two additional extensive target areas.
The targets flank and wrap around the margin of a large, variab ly deformed two‐mica granite. In addition to presenting a permi ssive
structural setting around its margins, the granite may be more directly associated with the mineralization since some samples from it
are weakly anomalous in gold (<200ppb Au). Internally, the two‐mica granite contains well developed faults up to 50m wide which are
weakly to moderately conductive and which form secondary drill targets.
Figure 1. Gold samples (top) and Target areas (bottom). Red – based on field work, program, yellow ‐inferred lake targets
Table 1. Summary statistics QEA area boulder sampling
*The Meliadine deposits owned by Agnico Eagle has the following Reserves and Resources: 2P: 4.07MMoz (20.7 MM tonnes @ 6.1
g/t), M&I: 2.80MMoz (24.7MM tonnes @ 3.52 g/t, Inf: 2.63MMoz (14.6MM tonnes @ 5.60g/t) (Source: Agnico Eagle Website)
This news release contains information with respect to the Agnico Eagle’s Meliadine Gold Mine along with other gold targets owned
by Agnico Eagle Mines, in respect of which the Company has no interest or rights to explore or mine. Readers are cautioned that the
Company has no interest in or right to acquire any interest in any such properties, and that mineral deposits on adjacent or similar
properties are not indicative of mineral deposits on the Company’s properties and there is no certainty of the same or similar
deposits on the Company’s properties.
Assay results from grab samples (boulders and outcrop) are selected samples and are not necessarily representative of
the mineralization hosted on the property. Grab sample weights range from 0.25kg to 3kg.
Sample procedures
Rock samples are collected in plastic bags in the field and are shipped in secure bags using unique security coded tags to Activation
Laboratories Ltd. (“Actlabs”) in Thunder Bay Ontario, an accredited mineral analysis laboratory. All samples are analyzed for gold
using a standard 50g fire assay technique. Samples returning over 5 g/t gold are analyzed using fire assay‐gravimetric method.
A subset of 28 samples from the 2020 program were analyzed using the metallic screen fire assay method by Actlabs. This method is
preferred in potentially coarse gold environments and involves taking a representative 1,000g split, sieved at 100 mesh (149 micron)
with fire assays performed on the entire +100 mesh and 2 splits on the ‐100 mesh fraction. The total amount of sample and the +100
mesh and ‐100 mesh fraction is weighed for assay reconciliation. Of the 29 samples tested, two samples reported >35% less gold than
the fire 50g fire assay method ( maximum ‐97% ‐ 1.17g/t FA compa red to less than 0.03g/t metallic s), one samples showed a >35%
increase compared to the 50g fire assay method (maximum +331% ‐ 1.47g/t FA compared to 6.33g/t metallics). The average difference
was +2% between the metallic versus 50g fire assay method. Thes e results suggest that, in gener al, there is very little coarse gold
( ‘ n u g g e t ’ ) e f f e c t i n t h e s a m p l e d population expect for one sample (+331%). Metallic assays are reported in this release, where
available.
About Solstice
Solstice is a gold‐focussed exploration company engaged in the exploration of its 886 km2 (100%) district scale KGP and certain other
rights covering an adjacent 683 km2, all with no underlying option or earn in payments. KGP is located in Nunavut, Canada only 26 km
from Rankin Inlet and approximately 7 km from the Meliadine gold deposits owned by Agnico Eagle Mines Ltd. Solstice has 99.5
million shares outstanding.
Solstice is committed to responsible exploration and development in the communities in which we work. For more details on
Solstice Gold and the KGP please see our Corporate Presentation available at www.solsticegold.com.
Neither 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.
QEA ALL HISTORIC 2020 EWIF QIF SOUTH
NUM 950 779 171 310 109 50
80th 0.42 0.36 0.59 0.49 0.57 0.91
85th 0.68 0.58 0.89 0.69 0.76 0.95
90th 1.00 0.97 1.23 1.00 0.94 1.09
median 0.07 0.06 0.14 0.10 0.11 0.16
mean 0.59 0.62 0.49 0.53 0.92 0.51
Max 66.60 66.60 6.99 34.90 54.90 3.63
Sandy Barham, M.Sc., P.Geo., Senior Geologist, is the Qualified Person as defined by NI 43‐101 standards responsible for
reviewing and approving the technical content of this news release.
On Behalf of Solstice Gold Corp.
David Adamson, PhD
Chairman
For further information please visit our website at www.solsticegold.com or contact:
Marty Tunney, PEng
President
Forward Looking Statements
This news release contains certain forward‐looking statements (“FLS”) relating but not limited to the Company’s expectations,
intentions, plans and beliefs. FLS can often be identified by f orward‐looking words such as “approximate or (~)”, “emerging”, “goal”,
“plan”, “intent”, “estimate”, “expects”, “potential”, “scheduled”, “may” and “will” or similar words suggesting future outcomes or
other expectations, beliefs, plans, objectives, assumptions, in tentions or statements about future events or performance. FLS in this
news release also include, but are not limited to, the extent and timing of described programs and ground work, such as rock sampling,
drilling, geophysics, mapping, till sampling and analysis. Geological interpretations are FLS and are subject to change based on
additional data and/or further analysis. FLS in this news relea se include comparison with certain geological features at an ad jacent
development property. There can be no guarantee that continued exploration at the KGP, which is at an early stage of exploration, will
lead to the discovery of an economic gold deposit. Factors that could cause actual results to differ materially from any FLS include, but
are not limited to, the future impacts of the COVID 19 pandemic and government response to such pandemic, the ability of the Company
to continue exploration at its project in lieu of the pandemic and the risk of future lack of access to the project as a result thereof, delays
in obtaining or failures to obtain required governmental, envir onmental or other project appr ovals, inability to locate source rocks,
inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, regulatory approvals and
other factors. While the Company believes the boulders are sour ced locally for the reasons outlined in this news release, ther e can be
no certainty that their source is local, or that it will be located on Solstice claims. FLS are subject to risks, uncertainties and other factors
that could cause actual results to differ materially from expected results.
Potential shareholders and prospective investors should be aware that these statements are subject to known and unknown risks,
uncertainties and other factors that could cause actual results to differ materially from those suggested by the FLS. Sharehol ders are
cautioned not to place undue reliance on FLS. By their nature FLS involve numerous assumptions, inherent risks and uncertainties, both
general and specific, that contr ibute to the possibility that t he predictions, forecasts, projections and various future event s will not
occur. Solstice undertakes no obligation to update publicly or otherwise revise any FLS whether as a result of new information , future
events or other such factors which affect this information, except as required by law.
This news release contains information with respect to adjacent or similar mineral properties in respect of which the Company has no
interest or rights to explore or mine. Readers are cautioned that the Company has no interest in or right to acquire any interest in any
such properties, and that mineral deposits on adjacent or simil ar properties are not indicative of mineral deposits on the Com pany’s
properties. Past performance is no guarantee of future performa nce and all investors are urged to consult their investment
professionals before making an investment decision.