Snowline GOLD Doubles Yukon Mineral Holdings with Acquisition of Nearby Project Portfolio and Provides Exploration Update
SNOWLINE GOLD DOUBLES YUKON MINERAL HOLDINGS WITH ACQUISITION OF
NEARBY PROJECT PORTFOLIO AND PROVIDES EXPLORATION UPDATE
• Snowline Gold doubles its Selwyn Basin, Yukon land holdings to roughly 254,000 ha
through acquisition and staking
• Purchase of 10-property portfolio from StrikePoint Gold will add 7+ reduced
intrusion related gold targets to Snowline’s exploration pipeline
• Ongoing drilling continues to expand scale of high-density vein arrays on Rogue
Project’s Valley Zone, adding to the breadth, length and depth of zones known to host
intense quartz vein mineralization.
Vancouver, B.C., September 20, 2022: SNOWLINE GOLD CORP. (CSE: SGD) (US
OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce it has doubled its
Selwyn Basin mineral tenure holdings to roughly 254,000 ha through targeted staking and
an acquisition agreement for a large portfolio of Yukon Territory exploration assets from
StrikePoint Gold Inc. (TSXV: SKP) (“StrikePoint ”), an arm’s length party. The acquired
properties and certain blocks of the newly staked claims are considered by the Company to be
prospective for reduced-intrusion related gold systems (“RIRGS”) similar to its Valley Zone.
“Our drill discoveries provide strong proof-of-concept for the gold potential of this part of the
Selwyn Basin, particularly for reduced-intrusion related gold systems like Valley, ” said Scott
Berdahl, CEO & Director of Snowline. “ Our recent staking and the acquisition of the Yukon
exploration property portfolio from StrikePoint Gold add significantly to our exploration
pipeline. While our primary focus remains on our flagship Rogue and Einarson discoveries,
these expansions add great depth to Snowline ’s exploration pipeline, giving shareholders the
potential to participate in multiple future discoveries of this type.”
STRIKEPOINT ACQUISITION
The Company has entered into an agreement with StrikePoint, whereby the Company will
acquire 4,713 mineral claims from StrikePoint in exchange for (i) the payment of $500,000 in
cash (the “Cash Consideration”), and (ii) the issuance of 500,000 common shares (the
“Consideration Shares”) of the Company (the “Acquisition”).
The StrikePoint properties cover various geological targets prospective for gold. Most notably,
the “Golden Oly” project covers a series of mid-Cretaceous aged felsic intrusions prospective
for RIRGS mineralization. Limited historical work by previous operators encountered sheeted
quartz vein arrays and surface grab samples of up to 19.2 g/t Au. These results have not yet
been directly verified by the Company. Accompanying the mineral properties themselves is a
historical exploration database including surface sampling (soil and rock) and extensive aerial
magnetic data, providing the groundwork for planned initial exploration programs on these
projects by Snowline.
The Consideration Shares issued in connection with the Acquisition are subject to a statutory
hold period of four months and one day from the closing of the Acquisition, in accordance with
applicable Canadian securities laws, and a contractual hold period of six months from the
closing of the Acquisition.
There are no pressing claim maintenance costs for this property package. As carried over from
a previous agreement, t he mineral claims are sub ject to a 2% NSR and up to three milestone
cash payments of $750,000 if total expenditures of $7,500,000, $15,000,000, and $25,000,000
are reached.
The Acquisition remains subject to acceptance by the Canadian Securities Exchange ( the
“CSE”) and various closing conditions which are standard for such transactions.
Figure 1 – Snowline Gold’s expanded claim position following recent staking and Acquisition. Discoveries on Snowline’s Rogue
project led the Company to acquire a significant land package from S trikePoint Gold, believed to be prospective for a similar
style of mineralization ( reduced-intrusion related gold systems ). The Company has also bolstered its existing land positions
through extensive, targeted staking.
STAKING
In addition to the Acquisition, the Company has significantly expanded its Rogue, Einarson,
Ursa, Rainbow and Cynthia projects through staking (Figure 1). Newly acquired areas were
identified by the Snowline team as having elevated potential to host gold deposits based on
geological, geochemical and geophysical information and based on the Company’s evolving
understanding of rocks and mineralization in this area through its surface and drill campaigns.
EXPLORATION UPDATE
Ongoing drilling at Snowline’s Valley Zone has encountered additional long intervals of high-
density sheeted quartz veins, similar in character to that encountered in holes V-22-005 and V-
22-007 (331.3 m @ 1.03 g/t Au including 192.0 m @ 1.52 g/t Au, and 282.9 m @ 2.30 g/t Au
including 146.0 m @ 3.24 g/t Au, respectively; see Snowline news release dated August 24,
2022), and similar in character to other holes for which assays have yet to be received (Figure
2).
Drilling is ongoing at Valley, with 9,919 m drilled on the target so far this season for 10,718
m total drilled on the target to date. Assays for more than 22 holes drilled at Valley in 2022
remain pending, including assays for the bottom 31% of V-22-007. In total, this represents
roughly 8,991 m of drilling (and counting), or 91% of the current season ’s results from the
Valley Zone still to be reported.
At Gracie, trace instances of fine visible gold ha ve been observed in bismuthinite bearing
quartz veins in 4 of 5 holes. A total of 2,152 m has been drilled at Gracie, though drilling has
yet to encounter the buried intrusion responsible for mineralization. Assays are pending for all
holes at Gracie.
Figure 2 – Drilling progress at the Valley Zone, showing vein densities (top) and instances of visible gold alongside assays
received to date (bottom). Roughly 91% of assays for the 2022 drill program have yet to be rec eived, though observations of
drill core demonstr ate the presence of gold bearing vein system present at varying intensities across a 1 ,000 m by 800 m
intrusion.
Figure 3 – Cross section showing vein densities and visible gold in V-22-010 and V-22-029. Hole V-22-029 encountered high
quartz vein densities along with visible gold , expanding the known width and significantly expanding the known depth of
mineralization. Note that the hole has not yet been surveyed, and thus true depth below surface is not yet known. View looks
northwest along the strike of the system. The surface trace of the A to A’ cross section shown can be seen in Figure 2.
Figure 4 – Cross section showing vein densities and visible gold in V-22-018, 026, 027 and 028. View looks northwest along
the strike of the system. Note that V-22-027 is projected onto the section from behind; the surface trace of the B to B’ cross
section shown can be seen in Figure 2.
Figure 5 – Quartz vein mineralization in V-22-026, from surface to 33.6 m downhole. Intense quartz vein mineralization begins
at bedrock surface, accompanied by abundant trace instances of visible gold (marked by orange flags above core ). Assays for
this hole are pending.
Figure 6 – Quartz vein mineralization in V -22-029, from 127.7 m to 152.7 m downhole. The hole encountered high density
quartz veining father to the northeast than expected, locally expending the width of the high-density central vein corridor.
Moderate to high vein densities farther down hole appear to extend the known depth of the system well below previous
depths of 430 m below surface (as encountered in V-22-015, assays pending). Instances of visible gold are marked by orange
flags above core. Assays for this hole are pending.
ABOUT ROGUE
The geological setting and style of mineralization at Rogue’s Valley Zone indicate the presence
of a bulk tonnage gold target, with similarities to Kinross’s Fort Knox Mine in Alaska and
Victoria Gold’s Eagle Mine in the Yukon. Gold is associated with bism uthinite and telluride
minerals hosted in sheeted quartz vein arrays along the margins of a mid -Cretaceous aged
Mayo-series intrusion. The Rogue Project hosts multiple intrusions of similar age and affinity
to that at Valley along with widespread gold anom alism in stream sediment, soil and rock
samples. The project is thus considered by the Company to have district-scale prospectivity for
reduced-intrusion related gold systems.
Valley is an early -stage exploration project without a mineral resource estimate, and the
presence or absence of an economically viable orebody cannot be determined until significant
additional work is completed.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seventeen-
project portfolio covering > 254,000 ha. The Company is exploring its flagship >111,000 ha
Einarson and Rogue gold projects in the highly prospective yet underexplored Selwyn Basin.
Snowline’s project portfolio sits within the prolific Tintina Gold Province , host to multiple
million-ounce-plus gold mines and deposits including Kinross’ Fort Knox mine, Newmont’s
Coffee deposit, and Victoria Gold’s Eagle Mine. The Company’s first-mover land position and
extensive database provide a unique opportunity for investors to be part of multiple discoveries
and the creation of a new gold district.
QUALIFIED PERSON
Information in this release has been prepared under supervision of and approved by J. Scott
Berdahl, M.Sc., P. Geo ., CEO and Direc tor for Snowline and a Qualified Perso n for the
purposes of National Instrument 43-101.
ON BEHALF OF THE BOARD
Scott Berdahl
CEO & Director
For further information, please contact:
Snowline Gold Corp.
+1 778 650 5485