Snowline GOLD Mobilizes Field Crews FOR Fully Funded 25,000 Metre Drill Program, Company’S Largest Exploration Campaign to Date
SNOWLINE GOLD MOBILIZES FIELD CREWS FOR FULLY FUNDED 25,000
METRE DRILL PROGRAM, COMPANY’S LARGEST EXPLORATION
CAMPAIGN TO DATE
• Five drill, 25,000+ metre drill program launched, with 15,000+ metres dedicated to
expanding and defining the Rogue Project’s flagship Valley target
• Upwards of 10,000 metres allocated for first pass and follow up drilling on at least
five additional targets across the Rogue and Einarson projects
• A second 50-person camp will be built near Rogue Project’s Valley target to increase
the capacity to support expanding drill campaign and regional surface exploration
Vancouver, B.C., May 16, 2024: SNOWLINE GOLD CORP. (TSX-V: SGD) (US OTCQB:
SNWGF) (the “Company” or “Snowline”) is pleased to announce that it has mobilized drilling
personnel and geological staff to its Rogue Project in Canada’s Yukon Territory to kick off its
2024 exploration and drilling program. The 25,000+ m etre (m) campaign will see two
additional diamond drill rigs mobilized to complement the three rigs currently onsite at the
Rogue Project’s Valley target, with a phased start-up over the coming days and weeks. Roughly
15,000+ m are allocated for the expansion and advancement of Valley. An additional 10,000+
m are assigned to first pass or follow-up drilling on multiple additional targets, including the
Rogue Project’s newly identified Aurelius target and the Einarson Project’s Jupiter target.
“We are excited to be back in the field for our earliest start and our largest exploration campaign
to date,” said Thomas Branson, Snowline’s Vice President of Exploration. “ At Valley, our
drilling will push to expand the extent of known mineralization and to gain a more quantitative
understanding of the discovery, both in terms of its overall gold endowment and in terms of
assessing potential economics of the relatively high grade, near surface gold system . The
construction of a second 50 -person camp will increase efficiencies at Valley along with our
capacity to support regional exploration with additional drills. Following our substantial
progress in 2023, we are keen to con tinue to unlock the value of what is effectively an only -
mover position in a rapidly emerging gold district.”
2024 EXPLORATION PLANS
Drilling:
Of the 25,000+ m drilling planned for 2024, a pproximately 15,000+ m will be allocated to
advance understanding of the Rogue Project’s Valley target and to further delineate the at-
surface, high-grade (1 g/t Au to > 4 g/t Au) zone encountered there in 2023 drilling, while
testing for potential extensions of the high-grade gold system in various directions. Drilling at
Valley will be complemented by ongoing metallurgical work and environmental surveys, along
with scoping studies as necessary to inform economic assessment of the discovery.
The remaining 10,000+ m are assigned to an aggressive regional drill campaign designed to
test multiple additional targets. A 1,000+ metre Phase I drill program at Aurelius will test the
surface mineralization discovered during the 2023 season (see press release dated February 20,
2024). Programs of 1,000+ m each are also planned to follow up on results from 2023 drilling
at both the Cujo target (see press release dated November 9, 2023), the Reid target (downhole
interval of 174.5 m averaging 0.27 g/t Au, from 303.5 m), and the Gracie target, where drilling
will build on earlier results in vectoring towards the Gracie intrusion and targeting
mineralization within.
With the recent consolidation of ownership on the Einarson Project, Snowline plans to conduct
a 4,000+ metre drill program at Einarson’s Jupiter target as follow up to the high grade orogenic
gold mineralization (to 13.2 g/t Au over 6.5 m, including 43.5 g/t Au over 1.3 m, and 10.4 g/t
Au over 5.0 m within the same hole —see Snowline press release dated August 25, 2021 )
encountered across >1.1 kilometres of open strike length in 2021.
Additional drilling will be allocated as follow up to the above where warranted, or as Phase I
drill programs at other targets which Snowline deems to have strong geological merit to host
significant zones of mineralization. These may include the recently discovered reduced -
intrusion related gold system (RIRGS) targets (Ramsey, Livia, Duke and Sydney: see press
release dated May 2, 2024), previously identified RIRGS targets like JP, and select orogenic
gold targets including Avalanche Creek and Mars on the Einarson Project, following additional
surface-based work. All of the above drilling allocations are subject to refinement based on
exploration results and other factors as the season progresses.
Surface Exploration:
The 2024 drill program will be complemented by extensive regional surface work. Baseline
regional stream sediment sampling will be initiated in early June to bolster and expand existing
data in the Rogue Project area, followed by extensive soil sampling around known targets and
anomalous areas. The early start will provide time during the field season for follow -up and
potential Phase I drilling on select areas with promising results.
Large-scale and target-scale geophysical programs are also planned for the 2024 field season,
including regional electromagnetic and target-scale magnetic surveys, building on datasets that
have proven useful in delineating alteration, structures and intrusive bodies associated with
gold mineralization in exploration at Rogue to date.
Ongoing environmental surveys at Valley and on the broader Rogue Project will continue and,
as with previous seasons, will be complemented by progressive reclamation of work sites.
Valley Camp:
In conjunction with the 2024 exploration program, Snowline will construct a 50 -person camp
in the vicinity of the Valley target, complementing the existing 50 -person Forks camp which
serves as a technical base and regional exploration hub for the company. The new camp will
support efficient drilling at Valley while allowing the Company to accelerate regional
exploration efforts. It is anticipated that the camp will be functional in mid to late June 2024.
EINARSON UPDATE
The Company is also pleased to report completion of the previously announced (see press
release dated April 25, 2024) consolidation of 100% interest in the Einarson project, including
acquisition of the Venus target, pursuant to which the Company issued 1,012,000 common
shares as partial consideration. The common shares are subject to a hold period of four months
and one day from the acquisition, in accordance with applicable Canadian securities laws,
expiring on September 16, 2024.
In addition, the Company has purchased a block of 76 claims (NAD 1-76, the “NAD Property”)
immediately adjacent to the Einarson Project’s Venus target from Strategic Metals (the
“Vendor”). These claims are on strike with the structural trend and host a continuation of the
multi-element anomaly associated with gold mineralization at Venus, thus consolidating the
broader target area. As consideration for 100% interest in the NAD Property, the Company has
issued the Vendor a one-time payment of C$50,000. The Vendor will retain a 2% Net Smelter
Return (NSR) royalty on the NAD Property (the “NAD NSR”). In connection with the royalty
agreement, the Vendor will grant Snowline the right to repurchase 50% of the NAD NSR
(equivalent to 1% NSR interest) from the Vendor at any time, to be satisfied by the delivery of
1,000 ounces of gold or the cash equivalent at the time of exercise of the buydown right.
ABOUT ROGUE
Rogue’s Valley target is a newly discovered, bulk tonnage style, reduced intrusion-related gold
system (RIRGS), with geological similarities to multi -million-ounce deposits currently in
production like Kinross’s Fort Knox Mine in Alaska and Victoria Gold’s Eagle Mine in the
Yukon. Early drill results demonstrate unusually high gold grades for such a system , present
near surface across drill intersections of hundreds of metres. Gold is associated with
bismuthinite and telluride minerals hosted in sheeted quartz vein arrays within and along the
margins of a one-kilometer-scale, mid -Cretaceous aged Mayo -series intrusion. Valley is an
early-stage exploration project without a resource estimate, and while initial results are
encouraging, the presence or absence of an economically viable orebody cannot be determined
until additional work is completed.
The Rogue Project area hosts multiple intrusions similar to Valley along with widespread gold
anomalism in stream sediment, soil and rock samples. Elsewhere, RIRGS deposits are known
to occur in clusters. The Rogue Project is thus considered by the Company to have district -
scale potential for additional reduced intrusion-related gold systems.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seventeen-
project portfolio covering > 360,000 ha (>3,600 km 2). The Company is exploring its
flagship >110,000 ha (>1,100 km 2) Rogue gold project 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-
Figure 1 – Project location map for Snowline Gold’s eastern Selwyn Basin projects: Rogue, Einarson, Ursa, Cynthia
and Olympus. The Valley target is one of several prospective reduced intrusion -related gold system (RIRGS) targets
on the broader 30 x 60 km Rogue Project, complemented by orogenic, Carlin-type, RIRGS and other sediment hosted
gold targets on surrounding projects.
mover 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
The technical information in this news release has been reviewed by Thomas K. Branson ,
P.Geo., a qualified person as defined by 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
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including statements about the
Company’s drill program, results, implied significance of visual inspection of drill core, and
surface work and plans for exploring and expanding a new greenfield, district -scale gold
system. 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 beliefs 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 fact ors include, among
other things: risks related to uncertainties inherent in drill results and the estimation of mineral
resources; and risks associated with executing the Company’s plans and intentions. These
factors should be considered carefully , and rea ders 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 actu al 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.