Oceanus Intersects 67.6 Meters of 1.49 g/t Gold Equivalent Consisting of 1.24 g/t Gold and 19.1 g/t Silver at its El Tigre Property in Sonora, Mexico
NEWS RELEASE
Oceanus Intersects 67.6 Meters of 1.49 g/t Gold Equivalent
Consisting of 1.24 g/t Gold and 19.1 g/t Silver
at its El Tigre Property in Sonora, Mexico
HALIFAX, NOVA SCOTIA – May 25, 2017 – Oceanus Resources Corporation (TSXV:OCN and
OTCQB:OCNSF) ("Oceanus" or the “Company”) re ports additional assay results from the 2017 diamond
drilling program on its 100% owned El Tigre Property in Sonora, Mexico. Highlights from the drilling
include the following:
Hole ET-17-133 – 67.6 meters of 1.49 g/t gold equivalent from 78.5 meters to 146.1 meters
consisting of 1.24 g/t gold and 19.1 g/t silver, in cluding 23.4 meters of 3.31 g/t gold equivalent
consisting of 2.77 g/t gold and 40.5 g/t silver
Hole ET-17-135 – 37.7 meters of 0.78 g/t gold equivalent from 71.9 meters to 109.6 meters
consisting of 0.62 g/t gold and 12.4 g/t silver, in cluding 18.8 meters of 1.16 g/t gold equivalent
consisting of 0.91 g/t gold and 18.9 g/t silver; and 8.4 meters of 1.95 g/t gold equivalent from 215.3
meters to 223.7 meters consisting of 1.52 g/t gold and 32.4 g/t silver
Hole ET-17-140 – 9.0 meters of 1.86 g/t gold equiva lent from 35.0 meters to 44.0 meters consisting
of 0.18 g/t gold and 125.5 g/t silver, including 1. 5 meters of 9.54 g/t gold equivalent consisting of
0.43 g/t gold and 683.2 g/t silver, in a step out hol e approximately 500 meters to the south of the
Main Deposit past Gold Hill (see drill hole location map at Appendix B)
The true width has not been calculated for the intercepts , but true width is generally estimated at 75-90% of
drilled width. The gold equivalent ratio is based on a gold-to-silver price ratio of 75:1.
The new assay results are for drill holes ET-17-123 to ET- 17-140. Refer to the Oceanus news releases dated
September 14, 2016, October 18, 2016, December 14, 2016 and March 6, 2017 for the assay results for the
previous drill holes. A map of a portion of the El Tigre Property is attached as Appendix A, a drill hole
location map is attached as Appendix B, a table of significant drill intersections is attached as Appendix C
and the drill hole location table is attached as Appendix D.
Glenn Jessome, President and CEO of Oceanus reports, “The Oceanus drilling has expanded and supports
the continuity of the vein and alteration zone betwee n the El Tigre Camp and the south end of Gold Hill,
which is a distance of approximately 1,800 meters. The vein and alteration zone remains open along strike
to the south, north and at depth. Furthermore, w ith hole ET-17-133 we have identified a possible new high
grade zone at Gold Hill. With holes ET-17-139 and ET-17-140 we have extended the strike length to the
south by approximately 500 meters. These drill results further support wide zones of precious metals
mineralization that demonstrate potential as a bulk-tonnage target.”
El Tigre Drilling Program
Oceanus has completed the 2016-17 infill drilling program at El Tigre with a total of 62 diamond drill holes
totalling 11,923.1 meters. The purpose of this drill program was to support a NI 43-101 resource estimation
for the El Tigre Property. The results from the O ceanus drilling, prior drilling and other data will be
incorporated into the resource estimation to be comp leted by P&E Mining Consultants Inc. by the end of
June, 2017.
In particular, the drill program was designed to achie ve the following objectives at El Tigre (see map at
Appendix A);
twin several legacy drill holes at the Main Deposit;
infill the central area of the Main Deposit;
infill the 500 meter gap along strike at the Main Deposit to the north between La Mula and the
Camp;
infill the 200 meter gap along strike at the Main Deposit to the south at Gold Hill;
test for a southern strike extension to the south of Gold Hill; and
test several of the veins to the north of the Main Deposit (Fundadora and Protectora).
Prospecting Work to the North at Protectora, Fundadora and La Chula
Field mapping and prospecting surveys are in progress along the Protectora vein system located
approximately 1.5 kilometers to the north of the El Tigre camp (see map at Appendix A). Oceanus drill
holes ET-17-141 to ET-17-144 have been completed at Protectora and assay results are pending (see drill
hole location table at Appendix D). At Protectora quart z vein and stockwork zones are located within an
advanced argillic alteration zone. Gold and silver mineralization was discovere d along the Protectora vein
and stockwork zone in diamond drill holes by El Tigre Silver Corp. in 2013 (hole ET-13-019 intersected 2
meters of 1.41 g/t gold and 421.7 g/t silver from 86.0 meters to 88.0 meters).
At the Fundadora vein system field mapping and pr ospecting surveys are also in progress (see map at
Appendix A).
Recent field mapping and prospecting surveys have id entified newly discovered mineralization, which has
been named La Chula vein system (see map at Appendix A). An extensive mapping and prospecting
program is now being carried out at La Chula.
El Tigre Property
The El Tigre Property lies at the northern end of the Si erra Madre gold belt which hos ts many of the larger
multi-million ounce epithermal gold and silver deposits including Ocampo, Pinos Altos, Dolores and
Palmarejo. In 1896, gold was first discovered on the property in the Gold Hill area and mining started with
the Brown Shaft in 1903. The focus soon changed to mining high-grade silver veins in the area with the
majority of the production coming from the El Tigre vein. Underground mining on the El Tigre vein
extended 1,450 meters along strike and mined on 14 levels to a depth of 450 meters. By the time the mine
closed in 1938, it is reported to have produced a total of 353,000 ounces of gold and 67.4 million ounces of
silver from 1.87 million tons (Craig, 2012).
The El Tigre Property is approximately 35 kilometers long and comprises 21,842.78 hectares. The El Tigre
gold and silver deposit is related to a series of hi gh-grade epithermal veins controlled by a north-south
trending structure cutting across the andesitic and rhyo litic tuffs of the Sierra Madre Volcanic Complex
within a broad gold and silver mineralized prophylitic alternation zone. The veins dip steeply to the west and
are typically 1 meter wide but locally can be up to 5 me ters in width. The veins, structures and mineralized
zones outcrop on surface and have been traced for a di stance of 5.3 kilometers along strike. Historical
mining and exploration activities focused on a 1.5 kilo meter portion of the southern end of the deposits,
principally on the El Tigre, Seitz Kelly and Sooy veins. Four veins in the north (Aguila, Escondida,
Fundadora and Protectora) were explored with only limited amounts of production.
Lab Preparation and Assay
The diamond drill core (HQ size) is geologically logged , photographed and marked for sampling. When the
sample lengths are determined, the fu ll core is sawn with a diamond blade core saw with one-third of the
core being bagged and tagged for assay. The remaining tw o-thirds portion is returned to the core trays for
storage and/or for metallurgical test work.
The sealed and tagged sample bags are transported to the ActLabs facility in Zacatecas, Mexico. ActLabs
crushes the samples and prepares 200-300 gram pulp samp les with ninety percent passing Tyler 150 mesh
(106μm). The pulps are assayed for gold using a 50 gram charge by fire assay (Code 1A2-50) and over limits
greater than 10 grams per tonne are re-assayed using a gravimetric finish (Code 1A3-50). Silver and multi-
element analysis is completed using total digestion (Code 1F2 Total Digestion ICP).
Quality Assurance / Quality Control and Data Verification
Quality assurance and quality control ("QA/QC") proce dures monitor the chain-of-custody of the samples
and includes the systematic insertion and monitoring of a ppropriate reference materials (certified standards,
blanks and duplicates) into the sample strings. The results of the assaying of the QA/QC material included in
each batch are tracked to ensure the in tegrity of the assay data. All results stated in this announcement have
passed Oceanus’ QA/QC protocols.
Qualified Person
David R. Duncan, P. Geo., V.P. Exploration of the Co mpany, is the Qualified Person for Oceanus as defined
under National Instrument 43-101. Mr. Duncan has re viewed and approved the scientific and technical
information in this press release and has reviewed the Technical Report.
About Oceanus Resources Corporation
Oceanus Resources Corporation is a gold exploration co mpany operating in Mexico. Oceanus is managed by
a team of mine finders with ex tensive experience in exploring a nd developing large hydrothermal gold
projects in Mexico. Oceanus is currently drilling and exploring the El Tigre Property in the Sierra Madre
Occidental.
For further information, please contact:
Glenn Jessome
President and CEO
902 492 0298
CAUTIONARY STATEMENT:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
This News Release includes certain “forward-looking statements”. All statements other than statements of historical fact included in
this release, including, without limitati on, statements regarding potential mineraliz ation, resources and reserves, the ability to
convert inferred resources to indicated re sources, the ability to complete futu re drilling programs and infill sampling, the ab ility to
extend resource blocks, the simila rity of mineralization at El Tigre to the Ocampo mine, exploration results, and future plans and
objectives of Oceanus, are forward-looking statements that involve various risks and uncertainties. Fo rward-looking statements are
frequently characterized by words such as “may”, “is expected to”, “anticipat es”, “estimates”, “intends ”, “plans”, “projection” ,
“could”, “vision”, “goals”, “ objective” and “outlook” and other similar word s. Although Oceanus believes the expectations
expressed in such forward-looking statements are based on reas onable assumptions, there can be no assurance that such statements
will prove to be accurate and actual results and future events coul d differ materially from those anticipated in such statement s.
Important factors that could cause actual results to differ materially from Oceanu s’s expectations include risks and uncertaint ies
related to exploration, development, operations, commodity pr ices and global financial volatility, risk and uncertainties of op erating
in a foreign jurisdiction as well as additi onal risks described from time to time in the filings made by Oceanus with securitie s
regulators.
APPENDIX A
El Tigre Property Map
Camp
La Mula
APPENDIX B
El Tigre Drill Hole Location Map
APPENDIX C
El Tigre Drilling Results
Hole ID Section Comment From
(m)
To
(m)
Length
(m)
Au
(g/t)
Ag
(g/t)
AuEq(2)
(g/t)
ET‐17‐123 4550 76.4 80.6 4.2 0.42 0.8 0.43
and 133.5 149.5 16.0 0.20 13.5 0.38
ET‐17‐124 4600 64.5 82.7 18.2 0.23 87.3 1.39
and 94.8 120.6 25.8 0.41 20.9 0.69
ET‐17‐125 3700 13.9 19.1 5.3 0.74 0.5 0.75
and 58.7 62.0 3.4 0.42 33.0 0.86
and 134.0 142.2 8.2 0.37 37.1 0.87
and 189.9 194.0 4.2 0.12 18.1 0.36
ET‐17‐126 3600 4.5 23.0 18.5 0.17 72.1 1.13
including 15.8 21.5 5.8 0.48 182.8 2.92
and 69.0 75.0 6.1 0.39 1.2 0.40
and 87.0 105.0 18.0 0.35 32.3 0.78
and 112.0 118.0 6.0 0.19 11.3 0.34
ET‐17‐127 4600 35.0 58.6 23.6 0.35 27.9 0.72
including 51.1 52.7 1.6 1.30 395.9 6.57
and 152.3 161.7 9.4 0.23 14.9 0.42
ET‐17‐128 4775 86.4 112.2 25.8 0.63 28.0 1.00
including 100.4 105.1 4.7 1.06 106.6 2.48
ET‐17‐130 3550 53.8 55.7 1.9 0.34 11.9 0.49
ET‐17‐131 3550 58.0 67.3 9.3 0.74 9.1 0.86
and 77.9 86.3 8.4 0.27 2.7 0.30
and 142.5 147.0 4.5 0.80 74.6 1.80
and 178.0 202.2 24.2 0.35 22.0 0.65
ET‐17‐132 4900 37.5 48.2 10.7 0.20 22.1 0.50
OPEN STOPE 48.2 50.6 2.4 El Tigre Vein
and 53.0 68.0 15.0 0.33 10.9 0.47
ET‐17‐133 3500 65.4 68.4 3.0 0.98 1.0 0.99
and 78.5 146.1 67.6 1.24 19.1 1.49
including 78.5 90.3 11.9 0.63 1.3 0.65
including 97.5 120.9 23.4 2.77 40.5 3.31
and 137.0 146.1 9.1 0.29 4.7 0.35
and 156.9 160.0 3.1 0.48 0.7 0.49
ET‐17‐134 3300 98.2 105.5 7.3 0.62 9.6 0.75
and 133.2 147.5 14.3 1.01 0.5 1.02
including 134.0 135.8 1.8 6.33 2.1 6.36
and 223.4 226.1 2.7 0.50 0.6 0.51
and 239.9 242.0 2.1 1.06 80.6 2.13
ET‐17‐135 3450 71.9 109.6 37.7 0.62 12.4 0.78
including 77.6 96.4 18.8 0.91 18.9 1.16
and 121.4 134.3 13.0 0.60 12.9 0.77
and 140.3 154.6 14.3 0.68 4.7 0.74
and 215.3 223.7 8.4 1.52 32.4 1.95
ET‐17‐136 3350 26.0 44.0 18.0 0.94 3.5 0.99
and 137.0 146.5 9.5 1.57 3.1 1.62
and 155.4 164.8 9.4 0.40 0.5 0.41
and 174.0 180.0 6.0 0.35 0.8 0.36
and 187.1 189.5 2.4 0.34 19.3 0.59
and 195.5 206.0 10.5 0.33 0.9 0.34
ET‐17‐137 3600 98.5 129.5 31.0 0.41 1.3 0.43
145.2 175.3 30.1 0.38 13.0 0.55
244.6 247.4 2.8 0.13 17.7 0.36
OPEN STOPE 263.1 268.6 5.5
268.6 276.1 7.5 0.32 1.3 0.33
ET‐17‐138 3400 20.0 25.0 5.0 0.42 0.7 0.43
and 66.7 83.4 16.8 0.21 6.9 0.31
and 103.1 104.6 1.5 0.46 1.2 0.48
and 115.6 118.4 2.8 0.34 1.0 0.35
and 178.0 185.0 7.0 0.24 1.2 0.26
and 238.0 246.3 8.3 0.28 5.1 0.35
ET‐17‐139 3150 10.6 15.8 5.2 0.96 1.7 0.98
ET‐17‐140 2950 35.0 44.0 9.0 0.18 125.5 1.86
including 36.5 38.0 1.5 0.43 683.2 9.54
Notes:
(1) True width has not been calculated for each individual intercept, but true width is generally estimated at 75-90% of drille d
width. Metallurgical recoveries and net smelter returns are assumed to be 100%
(2) Gold Equivalent ratio based on gold to silver price ratio of 75:1 Ag:Au.
APPENDIX D
El Tigre 2017 Drill Hole Location Table
Hole ID Northing Easting Elevation Azimuth Dip Length
ET‐17‐134 3383300 671185 1940 90 ‐ 50 302.0
ET‐17‐135 3383450 671232 1994 90 ‐ 45 223.7
ET‐17‐136 3383350 671239 1960 90 ‐ 45 221.0
ET‐17‐137 3383600 671099 1988 90 ‐ 55 144.2
ET‐17‐138 3383400 671220 1973 90 ‐ 60 275.4
ET‐17‐139 3383150 671303 1830 90 ‐ 45 116.0
ET‐17‐140 3382950 671313 1797 90 ‐ 45 212.0
ET‐17‐141 3387684 670011 1927 90 ‐ 45 299.0
ET‐17‐142 3387700 670277 1939 90 ‐ 45 247.4
ET‐17‐143 3385650 670740 1840 90 ‐ 45 232.0
ET‐17‐144 3386645 670680 2040 90 ‐ 45 224.0