SVRS.V · 2021-09-08 12:00:00

Golden Tag Drills 75.89 g/t Ag.Eq over 274 m, Commencing Near Surface, and Confirms 500 m Verti cal Extent Within the Newly Discovered 1849 Zone

Drill Results

NEWS RELEASE

Golden Tag Drills 75.89 g/t Ag.Eq over 274 m, Commencing Near

Surface, and Confirms 500 m Verti cal Extent Within the Newly

Discovered 1849 Zone

Toronto, Ontario, September 08, 2021 : Golden Tag Resources Ltd. (“ Golden Tag ” or the

"Company") (TSX.V: GOG) (OTCQB: GTAGF) is pl eased to announce the complete results from

diamond drillhole 21-57, part of an exploration pr ogram targeting bulk-tonnage mineralization on the

Company’s 100% owned San Diego Project, located in Durango Mexico.

Key highlights from hole 21-57 include:

 Commencing ~ 30 m below surface, well before the target area, hole 21-57

intersected 75.89 g/t Ag.Eq over 273.65 metres (“m”), highlighting the opportunity

for potential open pit mineralization directly above the Fernandez Zone.

 Hole 21-57 intersected the 1849 Target ar ea, located between historic hole 12-49

(184.34 g/t Ag.Eq over 42.03 m) and hole 07-18 (89.77 g/t Ag.Eq over 101.11 m),

returning 116.76 g/t Ag.Eq over 66.04 m, within a broader interval of 91.86 g/t Ag.Eq

over 134.37 m.

 The 1849 Zone represents a new broad zone of mineralization with bulk tonnage

potential with a vertical extent of 500 m and is open along strike and dip.

Greg McKenzie, President and CE O commented: "We are quite pleased to have made two new

discoveries with drillhole 21-57. Drilling 274 m of silver-zinc-lead-gold miner alization, commencing

right from surface and well above t he planned drillhole target area dem onstrates the potential of the

San Diego Project. This new discovery sits directly over top of the NW contact of the Fernandez Zone

and contains a broad interval of silver mineralization that will be tested for continuity and the potential

for additional open pit style of mineralization. The second discovery was made within the 1849 Target

area, which now becomes the 1849 Zone, located only 120 m NW of the Fernandez Zone.”

Hole 21-57

Hole 21-57 was drilled to the north-northwest in order to test the 1849 Target, which lies near the

northwest contact of the Central Diorite at approximately 550 m downhole (Figure 1). However, upon

exiting the casing at 30 m, hole 21-57 encounter ed epithermal and altered skarn mineralization

regularly down the hole, separated by zones of disseminated sul phide mineralization and sporadic

sulphide-bearing veins, within the Central Diorite over the first 300 m which yielded 75.89 g/t Ag.Eq

over 273.65 m (29.55 to 303.20 m). This intersection incorp orates the series of epithermal breccias

and quartz-carbonate veins which returned 892.25 g/t Ag.Eq over 10.00 m (73.00 to 83.00 m) and

115.33 g/t Ag.Eq over 5.54 m (87.16 to 92.70 m) previously reported in a news release dated May 27,

2021, as well as several notable intersections of additional epithermal and endoskarn mineralization

which followed downhole as outlined in Table 1. This area lies directly over the northwest contact

of the Fernandez Zone and confirms the potential for open pit style mineralization commencing near

surface (Figures 1 & 2).

Hole 21-57 successfully intersected the 1849 Tar get area along the northwes tern contact of the

Central Diorite at 521.88 m returning 116.76 g/t Ag.Eq over 66.04 m (521.88 to 587.92 m), within a

broader interval of 91.86 g/t Ag.Eq over 134.37 m (521.88 to 656.25 m) (Figure 3). The hole crossed

between hole 12-49 which returned 184.34 g/t Ag.Eq over 42.03 m (440.88 to 482.91 m) and hole 07-

18 which returned 89.77 g/t Ag.Eq over 101.11 m (813.99 to 915.10 m) demonstrating that

mineralization within the 1849 Zone extends over an approximate vertical distance of 500 m. Historic

hole 07-18 was recently relogged and mineralization within the 1849 Z one is similar to that found in

the Fernandez Zone, being comprised of quartz-sul phide vein, stringer and stockwork zones within

green and brown garnet exoskarn and red garnet endoskarn. The 1849 Zone lies approximately 120

m northwest of the Fernandez Zone, straddles the northwestern contact of the Central Diorite,

and is open up-dip and down-dip as well as along strike. The apparent minimum width of the

zone between holes 12-49 and 21-57 is approximately 30 m, however because hole 07-18 ended

in mineralization it is anticipated the zone may widen at depth, consistent with the Fernandez

Zone. The 1849 Zone represents a new broad zone of mineralization with bulk tonnage

potential.

Further drilling is planned to test the near-surface epithermal mineralization and open pit potential of

this area as well as the strike and dip extension of the 1849 Zone (Figure 4).

Table 1 – Select Assay Intervals from Hole 21-57

Zone Hole From To Length

(m)

Ag.Eq(1)

g/t

NEW 21-57 29.55 303.20 273.65 75.89 0.10 42.83 0.19 0.33 0.02

(2) includes 73.00 83.00 10.00 892. 25 0.55 627.66 1.09 3.61 0.12

(2) includes 87.16 92.70 5.54 115.33 0.31 53.99 0.18 0.56 0.03

includes 125.00 135.55 10.55 97.61 0.38 36.99 0.22 0.36 0.04

includes 156.63 157.70 1.07 570.18 0.11 362.46 1.20 2.78 0.26

includes 234.92 236.15 1.23 492.38 0.10 220.95 3.83 2.51 0.12

includes 248.19 248.80 0.61 627.68 0.14 210.00 2.98 5.89 0.26

includes 286.20 303.20 17.00 114.93 0. 08 42.57 0.68 0.79 0.05

NEW 21-57 361.19 369.90 8.71 141.07 0.24 41.71 1. 01 0.82 0.06

NEW 21-57 432.00 436.00 4.00 163.67 0.09 50.61 1.26 1.17 0.07

NEW 21-57 450.60 452.32 1.72 157.38 0.11 60.30 1. 01 0.77 0.15

1849 21-57 521.88 656.25 134.37 91.86 0. 13 20.53 0.60 0.74 0.05

includes 521.88 587.92 66.04 116.76 0.22 25.16 0.65 0.93 0.07

Table 2 – Select Assay Intervals from Historic Holes 07-18, 12-49

Zone Hole From To Length

(m)

Ag.Eq(1)

g/t

1849 12-49 440.88 482.91 42.03 184.34 0.15 61.94 1.56 1.14 0.02

1849 07-18 813.99 915.10 101.11 89.77 0. 05 30.09 0.57 0.65 0.05

includes 846.62 862.45 15.83 236.87 0.06 77.90 1.68 1.82 0.10

(1) All results in this release are rounded. Assays are uncut and undiluted. Widths are core-lengths, not true widths as

a full interpretation of actual orientat ion of mineralization is not complete. Intervals of epithermal, skarn, massive

sulphide or stockwork quartz-sulphide vein mineralization to a vertical depth of 300 m were chosen based on a 25 g/t

Ag.Eq cutoff with no more than 15 m of dilution and below 300 m were chosen based on a 53 g/t Ag.Eq cutoff with no

more than 9 m of dilution. Silver equivalent: Ag.Eq g/t was calculated using 3-year trailing average commodity prices

of $17.75/oz Ag, $0.90/lb Pb, $1.20/lb Zn, $1500/oz Au, and $2.85/lb Cu. The calculations assume 100% metallurgical

recovery and are indicative of gross in-situ metal value, the Company is planning to perform additional metallurgical

studies later in 2021. The 1849 & Fernandez Zone drill interc epts from historical holes 07 -18, 12-49 were calculated

using the current silver equivalent parameters outlined above. (2) Result from Company news release dated May 27,

2021.

Sample Analysis and QA/QC Program

Golden Tag Resources uses a qualit y assurance/quality control (QA/QC ) program that monitors the

chain of custody of samples and includes the insertion of blanks, duplicates, and reference standards

in each batch of samples sent for analysis. Drill core is photographed, logged, and cut in half with one

half retained in a secured location for verification purposes and one half shipped for analysis. Sample

preparation (crushing and pulverizing) is per formed at ALS Geochemis try, an independent ISO

9001:2001 certified laboratory, in Zacatecas, Mexi co and pulps are sent to ALS Geochemistry in

Vancouver, Canada and Lima, Peru for analyses. The entire sample is crushed to 70% passing -2 mm

and a riffle split of 250 grams is taken and pulverized to better than 85% passing 75 microns. Samples

are analyzed for gold using a standar d fire assay with Atomic Absorption Spectrometry (AAS) (Au-

AA23) from a 30-gram pulp. Gold assays greater than 10 g/t are re-analyzed on a 30-gram pulp by

fire assay with a gravimetric finish (Au-GRA 21). Samples are also analyzed using a 35 element

inductively coupled plasma (ICP) method with atomic emission spectroscopy (AES) on a pulp digested

by aqua regia (ME-ICP41). Overlimit sample values for silver (>100 g/t), lead (>1%), zinc (>1%), and

copper (>1%) are re-assayed using a four-acid digestion overlimit method with ICP-AES (ME-OG62).

For silver values greater than 1,500 g/t samples ar e re-assayed using a fire assay with gravimetric

finish on a 30-gram pulp (Ag-GRA21). No QA/QC issues were noted with the results reported herein.

True widths of drill intercepts have not been determined. Assays are uncut except where indicated.

Review by Qualified Person and QA/QC

The scientific and technical information in this document has been reviewed and approved by Bruce

Robbins, P.Geo., a Qualified Person as defined by National Instrument 43-101.

About Golden Tag Resources

Golden Tag Resources Ltd. is a Toronto based mineral resource exploration company. The Company

holds a 100% interest, subject to a 2% NSR, in the San Diego Project, in Durango, Mexico. The San

Diego property is among the largest undeveloped silver assets in Me xico and is located within the

prolific Velardeña Mining District. Velardeña hosts several mines having produced silver, zinc, lead

and gold for over 100 years. For more information regarding the San Diego property please visit our

website at www.goldentag.ca.

For additional information, please contact:

Greg McKenzie, President & CEO

Ph: 416-504-2020

Email: [email protected]

www.goldentag.ca

Cautionary Statement:

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the

TSXV) accepts responsibility for the adequacy or accu racy of this news releas e. Certain statements

in this news release are forward-looking and involve a number of risks and uncertainties. Such forward-

looking statements are within the meaning of the phrase ‘forward-looking information’ in the Canadian

Securities Administrators’ National Instrument 51-102 – Continuous Disclosure Obligations. Forward-

looking statements are not comprised of historical facts. Forward-looking statements include estimates

and statements that describe the Company’s future plans, objectives or goals, including words to the

effect that the Company or management expects a stated condition or result to occur. Forward-looking

statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”,

“could”, “would”, “will”, or “plan”. Since forward-looking statem ents are based on assumptions and

address future events and conditions, by their very nature they involve inherent risks and uncertainties.

Although these statements are based on information currently available to the Company, the Company

provides no assurance that actual results will meet management’s expectations. Risks, uncertainties

and other factors involved with forward-looking in formation could cause ac tual events, results,

performance, prospects and opportunities to differ materially from those expressed or implied by such

forward-looking information. Forw ard-looking information in this news release includes, but is not

limited to, statements regarding the effects of the Company’s exploration program, assay results from

the ongoing drill program, the expansion or discovery of additional bulk tonnag e mineralization or

zones, grade improvements at depth. Factors that could cause actual results to differ materially from

such forward-looking information include, but are not limited to: the ability to predict and counteract

the effects of COVID-19 on the business of the Co mpany, including but not limited to the effects of

COVID-19 on the price of commodities, capita l market conditions, restriction on labour and

international travel and supply chains; failure to identify mineral resources; failure to convert estimated

mineral resources to reserves; the inability to complete a feasibility st udy which recommends a

production decision; the preliminary nature of metallurgical test results; delays in obtaining or failures

to obtain required governmental, environmental or other project approvals; political risks; changes in

equity markets; uncertainties relating to the availability and costs of financing needed in the future; the

inability of the Company to budget an d manage its liquidity in light of the failure to obtain additional

financing; inflation; changes in exchange rates; fl uctuations in commodity prices; delays in the

development of projects; capital, operating and reclamation costs varying significantly from estimates

and the other risks involved in the mineral explor ation and development industry; and those risks set

out in the Company’s public doc uments filed on SEDAR. Although t he Company believes that the

assumptions and factors used in preparing the forwar d-looking information in this news release are

reasonable, undue reliance should not be placed on su ch information, which only applies as of the

date of this news release, and no assurance can be given that such events will occur in the disclosed

time frames or at all. The Company disclaims an y intention or obligation to update or revise any

forward-looking information, whether as a result of new information, future events or otherwise, other

than as required by law. No stoc k exchange, securities commission or other regulatory authority has

approved or disapproved the information contained herein.

Figure 1: Plan View of Holes 21-57, 12-49, 07-18, 21-58

Figure 2: Oblique View to ENE of Key Results 21-57, 12-49, 07-18, 21-58

Figure 3: Oblique View to ENE of Holes 21-57,12-49, 07-18 and 21-58 with the 1849 & Fernandez Zones

Figure 4: Plan View at 1000 mRL (650 m depth) of potential expansion of 1849 Zone

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