Glacier Lake Completes Phase 1 Drill Program at Silver Vista
Suite 1588 – Canaccord Tower, 609 Granville Street, Vancouver, BC V7Y 1G5
O: 604-688-2922 TF: 866-687-7059 www.glacierlake.ca
GLACIER LAKE COMPLETES PHASE 1 DRILL PROGRAM AT SILVER VISTA
Vancouver, B.C. – March 26th, 2018– Glacier Lake Resources Inc. TSXV: GLI – (“Glacier” or the
“Company”) has completed the Phase 1 diamond drill program on its Silver Vista property near Smithers,
British Columbia. Th is initial drill program w as focused on the main "MR" showing, a clastic sediment -
hosted, fine-grained, disseminated copper -silver zone. The core for Hole SV18 -01 has been sent to the
ALS Minerals laboratory in North Vancouver, B.C. with results to be released once received and reviewed.
Seven (7) holes, totaling 1,273 metres were completed. Glacier’s program represents the first drilling on
the Silver Vista property since the 1991-1992 Equity Silver Mines Ltd. (a division of Placer Dome Inc., now
Barrick Gold Corp.) program of 14 holes, totaling 1,252.5 metres . The 2018 program comprised two
deeper holes (average dept h 282.4 meters) drilled southeast to northwest and five shallower holes
(average depth (142.0 meters) drilled northwest to southeast, testing mineralization in the historic Equity
drill holes, and/or soil and rock Ag and Cu surface geochemistry from the 2011 to 2013 Amarc Resources
Ltd., surface programs.
The drilling indicates a moderate, north to northwest dip to the sedimentary units. Visible mineralization
is not obvious, so Glacier employed a portable XRF unit to aid in identification of mineralized zones to
assist in drilling of subsequent holes . Elevated levels of silver, copper and zinc were noted in multiple
horizons within the drill holes. Glacier Lake cautions investors the XRF readings were used only to direct
subsequent drilling and only analyses from the North Vancouver ALS Minerals laboratory will be reported
and relied on by the Company.
Upon receipt and review of the assay data from the 2018 drill program, Company geologists will plan and
budget a surface program to start after spring brea k-up. While the main “MR” road -cut showing is the
most advanced target, Amarc 2011 to 2013 soil geochemistry outlined an area of anomalous Ag and Cu
approximately 1.5 kilometres by 2.0 kilometres around the MR prospect area . This area had multiple Ag
and Cu soil geochemical anomalies also defined.
Further details can be found in the 43 -101 report on the property located under the Company’s SEDAR
profile.
Quality assurance/quality control
The entire length of core for each of the 7 drill holes are currently being sawn and sampled at continuous
1.0 met re intervals, with occasional shorter or longer intervals based on apparent wall rock and
mineralization contact. Supervision, organization and splitting of drilling core samples are undertaken by
personnel from geological consultant Mammoth Geological Ltd. Half of the core will be securely shipped
to the laboratory for analysis and the other half retained in a secure storage location. Certified reference
standards and blank s will be placed in the sample stream of each drill hole alternating at every 25 th
Suite 1588 – Canaccord Tower, 609 Granville Street, Vancouver, BC V7Y 1G5
O: 604-688-2922 TF: 866-687-7059 www.glacierlake.ca
interval. Samples were packed into rice bags, zap -strapped and securely stored until they were turned
over to the local trucking company for transport to the ALS Minerals Laboratory in North Vancouver, B.C.
All core samples will be analyzed utilizing ALS's MEICP-61 procedure, a four-acid digestion of a one-gram
sample with an ICP finish. Samples with over limit copper or silver values will receive an ME-OG62 analysis,
a four-acid digestion of a 0.5-gram sample with ICP-AES finish.
A routine quality assurance/quality control (QA/QC) procedure is adopted to monitor the analytical quality
at the lab. Certified reference ma terials (CRMs), pulp duplicates and blanks are inserted into each lab
batch of samples. QA/QC data at the lab are attached to the assay certificates for each batch of samples.
Further details can be found in the recently completed 43 -101 report on the property located under the
Company’s SEDAR profile.
The Company also wishes to clarify the finders’ fees which were paid in connection with completion of its
private placement of units announced on March 19, 2018. In connection with closing of the placement,
the Company paid cash commissions of $31,807.20, issued 258,920 common share purchase warrants
(each, a “ Warrant”), and 259,200 finders’ options (each, a “ Finders’ Option”). Each “Warrant” entitles
the holder to acquire a common share of the Company at a price of $0.10 for a period of twenty -four
months, subject to accelerated expiry in the event the closing price of the Company’s common shares on
the TSX Venture Exchange is $0.25 or higher for ten consecutive trading days. Each “Finders’ Option”
entitles the holder to acquire a unit of the Company consisting of one common share and one Warrant,
at a price of $0.06 for a period of twenty-four months.
All Warrants and Finders’ Options issued in connection with the placement are subject to a four -month-
and-one-day statutory hold period.
Subject to approval from the TSX Venture Exchange, t he Company will grant 500,000 incentive stock
options to certain directors, officers and consultants of the Company . The options vest immediately and
are exercisable at a price of $0.09 per share for a period of 5 years. The options are granted pursuant to
the Company's Stock Option Plan and will be subject to applicable regulatory hold periods.
The technical content of this news release has been reviewed and approved by R. Tim Henneberry, P.Geo.,
a member of the Glacier Lake Advisory Board and a qualified person as defined by National Instrument 43-
101 – Standards of Disclosure for Mineral Projects.