Snowline GOLD Enters into Property Option Agreement
SNOWLINE GOLD ENTERS INTO PROPERTY OPTION AGREEMENT
• Acquisition of five claim blocks from arm’s length vendors increases Snowline’s
targeted Yukon Territory land position by 18%
• Extensive historical dataset includes a 350 x 200 m zone of highly anomalous gold in
soils with eight soil samples >1 g/t Au, up to 6.4 g/t Au, within a broader 3.5 x 1.0 km
gold-in-soil trend
• New land position triples coverage of Snowline’s “Ursa” trend to > 30 km of
prospective strike length.
September 14, 2021 – Vancouver, B.C. – Snowline Gold Corp. (CSE: SGD) (US OTC: SNWGF)
(the “Company” or “Snowline”) is pleased to announce that it has entered into a property option
agreement with Epica Gold Inc. and Carlin Gold Corporation (together the “ Optionors”) dated
September 9, 2021 (the “ Agreement”), pursuant to which the Company has acquired the option (the
“Option”) to purchase a 100% interest in 812 mining claims in five blocks collectively covering
approximately 16,500 hectares (the “Properties”). The Propert ies are located in the Mayo mining
district, Yukon Territory, where they supplement Snowline’s existing claim position across a regional
geological feature considered by the company to be highly prospective for gold and base metal
mineralization. Snowline’s mineral holdings now comprise some 106,500 hectares and ar e focused
within the Selwyn Basin.
Under the terms of the Agreement, Snowline can acquire the Propert ies in exchange for payments to
the Optionors of $100,000 , ($50,000 on signing and $50,000 on the first anniversary ), and issuing
1,000,000 common shares to the Optionor s, (500,000 common shares issued on signing and 500,000
on the first anniversary). All payments made by the company are divided 50/50 amongst the Optionors.
The agreement is subject to a 2% net smelter returns royalty, with a 1% buy-back provision for
$2,000,000.
All securities issued pursuant to the Agreement will be subject to a four‐month and one day hold period
in accordance with applicable Canadian securities laws.
“This claim package has been on Snowline’s radar from a long time,” said Scott Berdahl, CEO and
Director of Snowline. “With our promising results this season, we are excited to further solidify our
cornerstone position in an area with demonstrated and increasing potential to become a significant new
gold and base metals district. Each acquired property bolsters an existing Snowline project. We further
benefit from the previous operators’ extensive geochemical work, which identified multiple promising
targets for f ollow-up. As with our Jupiter zone at Einarson and Valley zone at Rogue , t his option
provides Snowline and its shareholders low-cost entry to high-quality targets at the drill discovery stage.”
THE “X” & “REA” BLOCKS - CYNTHIA
The X claims lie within 1 km of the southern boundary of Snowline’s Cynthia project , south of Rogue
and Einarson. Historical soil sampling conducted by the previous operator on the X claims revealed
multiple gold-in-soil anomalies, including a 3.5 x 1.0 km area with generally elevated (>10 ppb Au) to
highly anomalous (up to 6 ,355 ppb Au) gold in soils. Within this area is a 300 x 250 m zone of
consistently anomalous soils, with 8 of 52 soil samples assaying above 1,000 ppb (1 g/t) Au (Figure 2).
These anomalies are hosted in deformed Devonian age black shales intruded by a Mayo suite Cretaceous
intrusion nearby, making for what the Company believes to be a highly prospective environment for
several styles of gold deposit. Additional high gold values were encountered in historical soil sampling
along strike, some 4 km from the anomaly.
The REA claims cover a zone of gold and base metal anomalism in soil and rocks near a zone of
complex structural intersection and along strike of the X claims.
Figure 1 – Map of the newly acquired claims in relation to Snowline’s existing properties in the district. New acquisitions are
labelled in bold and highlighted by shadow and are colour-coded to match the projects that they complement. While notable
mineral occurrences like the past-producing Plata silver mine and newer discoveries like Conrad, Venus and Boundary flank
Snowline’s project portfolio, Snowline’s project areas have seen very limited mineral exploration efforts to date.
An inactive winter haul road formerly used to service the Plata silver mine comes within 1.5 km of the
X claims and within 2.8 km of the REA claims (Figure 1).
THE “HS” AND “GS-Y” BLOCKS - URSA
The claim blocks comprising the HS, GS and Y claim s extend coverage along the same belt of
prospective Ordovician to Devonian rocks that host the strong, extensive, multi -element base metal
anomalism identified in stream sediment and soil samples on the Company’s Ursa project. This
effectively triples the strike length of prospective rocks controlled by Snowline along this belt to over
30 km (non-contiguous). While Ursa appears to cover the strongest signal from this anomalous trend,
historical stream sediment and soil sampling on the newly acquired blocks returned up to 1.84% zinc
in stream sediment samples and 1.1% zinc in soils.
The Selwyn Basin is among the world’s richest sources of zinc, with three major districts recognized to
date: the Anvil District, Howards Pass, and Macmillan Pass. The rocks underlying Ursa and the newly
acquired claims are similar in age and provenance to units at both Howards Pass and Macmillan Pass.
While Snowline’s focus remains on its flagship gold projects, this expanded land position over
prospective ground strengthens the opportunity for joint -venture, spin-out or sale if significant base
metal mineralization is encountered on the Ursa project.
Figure 2 – “X” claims soil anomaly, as delineated by previous operators in 2011. These historical soil values grade up to 6.356
g/t Au, with eight samples assaying >1 g/t Au (>1000 ppb Au) over a 300 m area. The anomaly appears to be hosted in black,
organic-rich Devonian shales in the hanging -wall of a major regional thrust, within 1 km of a Cretaceous -aged Mayo suite
intrusion that exhibits a strong gold signature in regional stream geochemical data.
THE “OB” BLOCK – EINARSON
The OB claims are located north of the Einarson property along the same regional geological feature as
a prominent anomalous geochemical trend on Einarson. Historical soil sampling conducted by the
previous operator on the OB claims returned generally elevated (>10 ppb Au) to anomalous (up to 522
ppb Au) soils along a 2.3 km strike length, with 16 of 79 samples (20%) returning >100 ppb Au. Follow-
up rock sampling targeted carbonate and clastic units and did not identify the source of the anomaly,
though nearby quartz veining was mentioned in sample notes. Given Snowline’s quartz-vein associated
discoveries at Jupiter and Avalanche Creek, exploration targeting of an epizonal orogenic model may
prove more successful in identifying the source of the anomaly.
QA/QC
Historical results relating to the newly acquired claim blocks reported herein have not been directly
verified by Snowline as such data was prepared and compiled by third parties prior to Snowline’s
involvement with the Properties. Collection procedures, assay techniques and documentation of the data
appear to follow industry best practices, and the Company believes the data to be reliable as a first-pass
indicator of high prospectivity that identifies promising targets for follow-up.
QUALIFIED PERSON
The scientific and technical information in this news release has been prepared and approved by Scott
Berdahl, P. Geo., Chief Executive Officer of Snowline and a Qualified Person for the purposes of
National Instrument 43-101.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seven -project
portfolio covering nearly 106,500 ha. The Company is exploring its flagship 72,000 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. Snowline’s first -mover land position provides a unique opportunity for investors to be part of
multiple discoveries and the creation of a new gold district.
ON BEHALF OF THE BOARD
Scott Berdahl, MSc, MBA, PGeo
CEO & Director
For further information, please contact:
Snowline Gold Corp.
+1-778-650-5485
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
This news release contains certain forward -looking statements, including statements regarding the
exercise of the Option and the payments and share issuances related thereto , the Company’s belief
the Properties will be a highly prospective environment for several styles of gold deposit and
the Company’s future plans and intentions. Wherever possible, words such as “may”, “will”, “should”,
“could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the
negative or other variations of these words, or similar words or phrases, have been used to identify these
forward-looking statements. These statements reflect management ’s current belief s and are based on
information currently available to management as at the date hereof. Forward-looking statements
involve significant risk, uncertainties and assumptions. Many factors could cause actual results,
performance or achievements to differ materially from the results discussed or implied in the forward -
looking statements. Such factors include, among other things , risks associated with executing the
Company’s plans and intentions. These factors should be considered carefully and readers should not
place undue reliance on the forward -looking statements. Although the forward -looking statements
contained in this news release are based upon what management believes to be reasonable assumptions,
the Company cannot assure readers that actual results will be consistent with these forward -looking
statements. These forward -looking statements are made as of the date of this news release, and the
Company assumes no obligation to update or revise them to reflect new events or circumstances, except
as required by law.