Showcase Announces Two Refined Targets for Exploration at Dixie Flats-North Star

Showcase Announces Two Refined Areas for Targeted

Exploration at the Dixie Flats-North Star Project, Nevada

CALGARY, AB / February 5, 2024 / Showcase Minerals Inc. (CSE: SHOW) ("Showcase") is

pleased to announce it has identified two promising broad targets that can be investigated with

drilling at its Dixie Flats-North Star Project located in Nevada. These targets incorporate

geologic information from 53 drillholes, localized geologic mapping, Controlled Source Audio

Magnetotelluric (CSAMT) surveys, GTI NuSeis 2D active seismic, gravity surveys with over 828

gravity stations, and surface sampling.

The two broad targets are situated along two major geologic structures and the interface of the

Webb Mudstone and Devils Gate limestone, which is the primary source of mineralization at

Dixie Flats. Historic mineralization at this contact within the project boundary has been

favorable. With the combination of new geophysical work and synthesis of historic work,

confidence has increased around the location of drill exploration targets.

Expected program milestones are expanding known mineralization along trend with Orla

Mining Ltd.’s Dark Star Gold Deposit, consistent with the newly identified CSAMT resistivity

anomaly, as shown in Figure 1. The drill program will also better define the location of the

mineralized ore bearing structures, which can be incorporated into future lithologic and

structural models. The CSAMT anomaly splits into a potentially second mineralized bearing

cross-cutting structure, and drill targets are planned to expand this zone of potential

mineralization laterally along this newly identified local cross-cutting structure, as shown in

Figure 2.

About the Dixie Flats– North Star Gold Project:

The Dixie Flats-North Star Property (the “Property” or “Dixie Flats”) is located on the east side

of the Piñon Mountains, 21 air-miles south of the City of Elko in northeast Nevada. It is a

combination of two claim blocks, the Dixie Flats group of claims and the North Star group of

claims. The Property is comprised of a total of 236 total unpatented mineral claims on Federal

land administered by the US Bureau of Land Management (“BLM”).

The Property lies on the southern margin of the Carlin Trend, a northwest-trending belt of

sediment-hosted gold deposits that makes up the greatest geographic concentration of gold

deposits in North America, with reported production of more than 92.5 million ounces of gold

since 1961 (Muntean, 2019). The Dixie Flats-North Star Property is underlain by rocks known to

host gold mineralization on the Carlin Trend, and surface sampling has shown anomalous gold,

silver, arsenic, antimony, and mercury levels in rock, soil, and biogeochemical samples from the

Property, which is a characteristic geochemical signature of Carlin-Type gold deposits.

Dixie -North Star is approximately three miles south of Newmont Mining Company’s Emigrant

Springs Mine, which finished open pit production in 2018, and approximately 4.5 miles

southeast of the past producing Rain Mine. Both of these deposits are hosted in dissolution

breccia zones at the contact between the Webb mudstone, the basal unit of the overlying

assemblage, and the underlying Devils Gate limestone. Prior exploration on the Dixie -

North Star Property has been focused on delineating this contact at depth and discovering

possible extensions to the regional structures controlling mineralization at the Rain and

Emigrant Mines and their demonstrated extension to the Dixie – North Star Property. The

information on the adjacent projects is taken from publicly available sources and is not

necessarily indicative of the mineralization on the Dixie Flats – North Star Property.

Additional information on the Dixie -North Star Gold Project can be found in the National

Instrument 43-101 (“NI 43-101”) technical report entitled “Technical Report on the Dixie Flats-

Northstar Gold Exploration Property”, Elko, Nevada, dated September 21, 2022, which has been

filed on SEDAR at www.sedar.com.

Qualified Person:

Mr. Seth Cude, P.G., R.M., M.Sc., C.P.G. is a qualified person as defined by National Instrument

43-101 and has reviewed and approved the technical information in this news release.

About Showcase Minerals Inc.

Showcase is a Canadian mineral exploration company with an exclusive option to acquire a

100% interest in Dixie Flats-North Star Gold Project and the Woodruff Gold-Vanadium Project

(subject to various net smelter returns royalties ranging from 2.25% to 4.25%), which

collectively consist of unpatented 254 lode mining claims covering approximately 1,818

hectares located in Elko County, Nevada

For further information, please contact:

Kirk Reed, President

Showcase Minerals Inc.

Telephone: 1-800-982-0670

Figure 1: Plan view of NNE-SSW structural corridor on trend with the Dark Star Gold deposit from combined gravity

surveys, newly identified CSAMT anomaly and interpreted Emigrant Springs fault.

Figure 2: Isometric view of CSAMT anomaly crossing the intersection of the interpreted Emigrant Springs and

Friday Faults with historic gold intercepts plotted. Strong agreement between historic gold intercepts and the

CSAMT anomaly was observed.