STLR.TO · 2018-09-13 12:00:00

Company's Golden Highway Project (located 110 km east of

Corporate Updates

Moneta Intercepts 25.00 M @ 2.48 G/T Gold

Including 4.50 M @ 5.00 G/T Gold at South

West

Symbol: TSX: ME

TORONTO

Sept. 13, 2018

/CNW/ -

Moneta Porcupine Mines Inc. (TSX:ME) (OTC:MPUCF)

(XETRA:MOP) ("Moneta" or the "Company")

is pleased to announce the results from the last

seven diamond drill holes completed on the South West Deposit ("South West") located within the

Company's Golden Highway Project (located 110 km east of

Timmins, Ontario

, see Figure 1).

Highlights:

Drilling results at South West have continued to extend the strike and depth extent of the

known vein structures and mineralized shoots.

Mineralized Shoots

•

SW-3d

Drill hole MGH18-098 intersected the SW-3d mineralized shoot

assaying 25.00 metres ("m") @ 2.48 grams per tonne gold ("g/t

Au") including 4.50 m @ 5.00 g/t Au, including 0.50 m @ 15.35

g/t Au

•

SW-1

Drill hole MGH18-094 extended the depth extensions of

mineralized shoot SW-1 by 100 m assaying 7.00 m @ 2.05 g/t

Au and 3.78 m @ 2.42 g/t Au

Vein Structures

•

Arbutus Vein

MGH18-098 intersected Arbutus vein extending the vein by 50

m to the north assaying 8.30 m @ 2.66 g/t Au including 4.00 m

@ 4.07 g/t Au. MGH18-097

returned 2.30 m @ 3.68 g/t Au from

the Arbutus vein

•

Larch Vein

Drill hole MGH18-098 intersected and extended the Larch vein

by ~50 m to the north with 4.40 m @ 2.59 g/t Au including 1.78 m

@ 4.55 g/t Au

•

Maple Vein

Drill hole MGH18-095 extended the Maple Vein 50m to the

north, assaying 1.30 m @ 4.92 g/t

•

Walnut Vein

MGH18-096 intersected the Walnut vein returning 0.96 m @

12.80 g/t Au at a depth of 701.41 m

•

Yew Vein

The Yew vein structure was intersected in drill hole MGH18-098

assaying 7.00m @ 2.20 g/t Au including 1.00 m @ 8.32 g/t Au

Gary O'Connor

, CEO & Chief Geologist commented, "We are encouraged by the results of the

latest drill holes from the 2017/2018 program at South West which have extended and confirmed the

size and grade of gold mineralization. The latest results have continued to add to the known

seventeen (17) vein structures and nine (9) mineralized stockwork shoots and have located new

mineralized veins. We plan to complete a small drill program on the four new shoots to provide

sufficient data to model all of the structures in preparation for the forthcoming resource update."

The latest assay results are from the final seven new drill holes and one drill hole extension totalling

5,409.60 m

of drilling at South West. The drill program at South West forms part of the previously

announced exploration drill program undertaken by the Company in late 2017 and early 2018 that

was expanded to

39,300 m

in 66 drill holes. Assays for the remaining drill holes from the "55" area

are pending and will be released as they become available.

South West Deposit

Drilling to date at South West has been successful in confirming the existence of seventeen (17) vein

structures and nine (9) mineralized shoots. Additional veins and stockwork zones have been

intersected and are being modelled. The stacked veins trend NW and dip steeply to the SW at ~70°

and occur south of a Banded Iron Formation ("BIF") within Timiskaming age clastic sediments. The

first six modelled veins have an average width of approximately

2.90 m

and are spaced

25 m

apart. The vein structures can now be traced for up to

500 m

in strike length and have been

historically drilled to depths of up to

1,200 m

The sheared contact with the BIF hosts mineralized stockwork zones ("shoots") which plunge ~65°

to ~75° to the west and occur up to

50 m

long,

25 m

wide and have been confirmed to depths of

over

1,000 m

. A total of nine (9) shoots have been identified to date.

The mineralized veins and stock-work veining within the shoots occur as quartz-pyrite veins within an

ankerite-sericite-silica-pyrite alteration halo. Late carbonate-chlorite veins also occur. The nine (9)

mineralized shoots and seventeen (17) vein corridors have now been successfully traced along a

width of

1,200 m

South West Drill Results

Drill hole

MGH18-094

confirmed the down-plunge extensions of the SW-1 mineralized shoot by

100

. The drill hole intersected a quartz-pyrite stock work on the BIF contact and returned

13.00 m

1.62 g/t Au at

715.00 m

, including

7.00 m

@ 2.05 g/t Au, including

1.00m

@ 4.58 g/t Au. The hole

intersected another zone within SW-1 containing

3.78 m

@ 2.42 g/t Au at

740.00 m

hole depth. The

hole also intersected the previously released New West #1 vein in hole MGH18-093, assaying

3.50

@ 2.11 g/t Au.

Diamond drill hole

MGH18-095

was drilled to confirm the occurrence of the BIF and the northern

extensions of the Maple Vein set. The drill hole intersected

1.30 m

@ 4.92 g/t Au from the Maple

Vein extending the vein by

50m

to the north and a new vein at depth east of the Maple vein assaying

0.30 m

@ 18.60 g/t Au. The continuity of the new vein is to be confirmed.

Drill hole

MGH18-096

was drilled to test the occurrence of stockwork zones along the folded BIF

and the northern extensions of the Maple and Willow Vein sets. The drill hole confirmed the edge of

the SW-3a stockwork zone assaying

3.00 m

@ 2.03 g/t Au and the Walnut vein assaying

0.96 m

12.80 g/t Au.

Drill hole

MGH18-097

was drilled to test the northern and southern BIF contacts adjacent to the SW-

3 mineralized shoots as well as the northern and depth extensions of the Willow Vein set. The drill

hole intersected the Willow vein at

614.30 m

assaying

1.20 m

@ 2.78 g/t Au and the Arbutus vein at

763.40 m

returning

2.30 m

@ 3.68 g/t Au extending the veins by

50 m

to the north and

50 m

depth.

Diamond drill hole

MGH18-098

was also drilled to test the northern and southern BIF contacts

including the SW-3d mineralized stockwork and the northern extensions of the Willow Vein set. The

hole intersected SW-3d returning

25.00 m

@ 2.48 g/t Au including

4.50 m

@ 5.00 g/t Au, including

0.50 m

@ 15.35 g/t Au and

9.00 m

@ 2.42 g/t Au including

2.49 m

@ 4.33 g/t Au at

453.00 m

. The

drill hole intersected the extensions of the Arbutus vein assaying

1.18 m

@ 6.67 g/t Au including

0.78

@ 9.12 g/t Au at

570.80 m

and the Larch Vein at

720.00 m

returning

4.40 m

@ 2.59 g/t Au

including

1.78 m

@ 4.55 g/t Au. The hole extended the veins

50 m

to the north and by

100 m

depth.

Drill hole

MGH18-099

was drilled to test the southern extensions of the SW-3a shoot and the down

dip extensions of the Maple and Willow vein sets, intersecting the Walnut vein assaying

0.58 m

4.68 g/t Au and the Willow vein with

3.54 m

@ 1.44 g/t Au.

Holes

MGH18-100

and

MGH17-069x

were designed to test the extensions of the SW-5 mineralized

shoot. MGH17-069x was drilled as an extension of hole MGH17-069, which assayed

2.61 m

@ 6.35

g/t Au, including

1.00 m

@ 12.15 g/t Au. MGH18-100 tested the up-dip extensions of MGH17-069

but deviated east of the BIF contact zone.

Table 1: South West: Selective Significant Drill Results

Hole

From

Length

Vein

(#)

(m)

(g/t)

(#)

MGH18-094

168.00

171.50

3.50

2.11

New West-2

MGH18-094

449.80

450.60

0.80

4.12

New

MGH18-094

715.00

728.00

13.00

1.62*

SW-1

includes

721.00

728.00

7.00

2.05

SW-1

includes

721.00

722.00

1.00

4.58

SW-1

MGH18-094

740.00

744.28

3.78

2.42

SW-1

includes

742.50

743.50

1.00

4.03

SW-1

MGH18-095

138.00

141.00

3.00

2.28

North Vein

MGH18-095

551.70

553.00

1.30

4.92

Maple

MGH18-095

726.80

727.10

0.30

18.60

New

MGH18-096

647.00

649.00

2.00

3.06

New

MGH18-096

701.41

702.37

0.96

12.80

Maple

MGH18-096

778.00

781.00

3.00

2.03

SW-3d

MGH18-097

490.10

492.00

1.90

2.24

New

includes

490.10

490.60

0.50

3.41

New

MGH18-097

613.60

617.00

3.40

1.91

Willow

includes

614.30

615.50

1.20

2.78

Willow

MGH18-097

763.40

765.70

2.30

3.68

Arbutus

includes

763.85

765.25

1.40

4.85

Arbutus

MGH18-097

793.00

804.75

11.75

0.96

New

includes

803.50

804.75

1.25

2.49

New

MGH18-098

418.00

443.00

25.00

2.48

SW-3d

includes

418.00

422.50

4.50

5.00

SW-3d

includes

418.00

420.50

2.50

6.83

SW-3d

includes

420.00

420.50

0.50

15.35

SW-3d

and

425.00

426.06

1.06

3.74

SW-3d

and

430.15

434.00

3.85

2.92

SW-3d

includes

432.00

433.03

1.03

4.39

SW-3d

MGH18-098

453.00

462.00

9.00

2.42

SW-3d

includes

454.51

459.00

4.49

3.64

SW-3d

includes

454.51

458.00

2.49

4.33

SW-3d

MGH18-098

539.00

547.30

8.30

2.66

New

includes

540.00

544.00

4.00

4.07

New

MGH18-098

570.80

571.98

1.18

6.67

Arbutus

includes

571.20

571.98

0.78

9.12

Arbutus

MGH18-098

608.00

615.00

7.00

2.20

New

includes

608.00

609.00

1.00

8.32

New

MGH18-098

679.86

681.00

1.14

3.02

New

MGH18-098

720.00

724.40

4.40

2.59

Larch

includes

722.00

723.78

1.78

4.55

Larch

includes

722.00

723.00

1.00

5.73

Larch

MGH18-099

353.12

353.70

0.58

4.69

Walnut

MGH18-099

470.46

474.00

3.54

1.44

Willow

includes

473.10

474.00

0.90

2.54

Willow

MGH18-099

507.00

508.00

1.00

3.34

New

MGH18-100

191.00

195.00

4.00

1.17*

SW-5

Intercepts are calculated using a 2.0 g/t Au cut-off unless noted (*), a maximum of 2m internal dilution and

no top cap applied. All intercepts are reported as drill widths and estimated to be 65% to 100% of true width.

Table 2: Drill Hole Details

Hole

Easting

Northing

Elevation

Azimuth

Inclination

Depth

(#)

(mE)

(mN)

(masl)

(°)

(m)

MGH17-069x*

571572

5369896

329

-62

693.0

MGH18-094

570820

5368955

323

-74

825.0

MGH18-095

570820

5369481

322

-73

801.0

MGH18-096

570821

5369596

322

-70

839.4

MGH18-097

570851

5369700

323

-74

831.0

MGH18-098

570882

5369765

323

-67

768.0

MGH18-099

571057

5369637

324

-57

750.0

MGH18-100

571758

5369998

330

-55

474.3

*121 m extension of MGH17-069

Please click below for Figure 1 - South West Location Map: Golden Highway Project

http://www.monetaporcupine.com/i/maps/ME-PR-13-2018-2.jpg

Please click below for Figure 2 - South West: Geology and Drill Location Map

http://www.monetaporcupine.com/i/maps/ME-PR-13-2018-3.jpg

Please click below for Figure 3 - South West: Schematic Cross Section

http://www.monetaporcupine.com/i/maps/ME-PR-13-2018-4.jpg

QA/QC Procedures

All core drilling conducted by Moneta is oriented. Drill core is sawn and half is sent ALS Canada Inc.

for drying and crushing to -2 mm, with a 1.00 kg split pulverized to -75 µm (200#). A 50 g charge is

Fire Assayed and analyzed using a AAS finish for Gold. Samples above 10.00 g/t Au are analyzed

by Fire Assay with a gravimetric finish and selected samples with visible gold or high-grade

mineralization are assayed by Metallic Screen Fire Assay on a 1.00 kg sample. Moneta inserts

independent certified reference material and blanks with the samples and assays routine pulp

repeats and coarse reject sample duplicates with the samples, as well as completing third-party

check assays at Activation Laboratories Ltd.

Gary O'Connor

, FAusIMM is a qualified person under

NI 43-101 and has reviewed and approved the contents of this press release.

About Moneta

The Company holds a 100% interest in 5 core gold projects strategically located along the Destor-

Porcupine Fault Zone in the Timmins Gold Camp with over 85 million ounces of past gold production.

The projects consist of the Golden Highway,

North Tisdale

, Nighthawk Lake, Kayorum and Denton

projects. The Golden Highway Project covers 12 kilometres of prospective ultramafic/mafic

volcanic/sedimentary rocks along the DPFZ hosting a NI 43-101 indicated resource estimate of

1,091,000 ounces (31.1 Mt at 1.09 g/t Au) and 3,204,000 ounces inferred (83.3 Mt at 1.20 g/t Au),

clustered within four kilometres.

The Company's public documents may be accessed at

www.sedar.com

. For further information on

the Company, please visit our website at

www.monetaporcupine.com

or email us at

[email protected]

This news release includes certain forward-looking information and forward-looking statements,

collectively "forward-looking statements"

within the meaning of applicable Canadian securities

legislation.

Forward-looking statements are frequently identified by such words as "may", "will",

"plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and

results. Forward-looking statements include, but are not limited to information with respect to the

future performance of the business, its operations and financial performance and condition such

as the Company's drilling program and the timing and results thereof; and the ability of the

Company to finance and carry out its anticipated goals and objectives.

Forward-looking statements are based on the current opinions and expectations of management.

All forward-looking information is inherently uncertain and subject to a variety of assumptions,

risks and uncertainties, including the speculative nature of mineral exploration and development,

fluctuating commodity prices, competitive risks and the availability of financing, as described in

more detail in our recent securities filings available at

www.sedar.com

. Actual events or results

may differ materially from those projected in the forward looking-statements and we caution

against placing undue reliance thereon. We assume no obligation to revise or update these

forward-looking statements.

SOURCE

Moneta Porcupine Mines Inc.

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/September2018/13/c3309.html

%SEDAR: 00003301E

For further information:

Gary V. O'Connor, CEO and Chief Geologist, 416-357-3319; Ian C.

Peres, President & CFO, 416-579-3040

CO: Moneta Porcupine Mines Inc.

CNW 09:57e 13-SEP-18

← Back to feed