Trans Canada GOLD Corp. Defines Multiple GOLD Targets Along the Valentine Lake Shear Zone and Prepares FOR Drilling the Crippleback Lake GOLD Project IN the Corridor of GOLD IN Central Newfoundland ____________________________________________________________________________________
TRANS CANADA GOLD CORP.
c/o Suite 1200 - 750 West Pender Street ∙ Vancouver ∙ British Columbia ∙ V6C 2T8
Telephone: (604) 681-3131
NEWS RELEASE
November 1, 2021 TSX-V Trading Symbol: TTG
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TRANS CANADA GOLD CORP. DEFINES MULTIPLE GOLD TARGETS ALONG THE VALENTINE LAKE SHEAR
ZONE AND PREPARES FOR DRILLING THE CRIPPLEBACK LAKE GOLD PROJECT IN THE CORRIDOR OF GOLD
IN CENTRAL NEWFOUNDLAND
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VANCOUVER, B.C. – Trans Canada Gold Corp. (TSX-V: TTG) (“Trans Canada ” or the “ Company”) is
pleased to announce that the Company has defined and identified multiple new gold drill targets on the
Crippleback Lake Gold Project and has now received full permit approval for drilling the Crippleback Lake
Gold Project in central Newfoundland ( the “Crippleback Lake Gold Project”, or the “Project”) from the
Government of Newfoundland and Labrador.
The Company has received full exploration permit approval for planned Mineral Exploration work on the
Crippleback Lake Gold Project and the Project has been advanced to drill ready status. The diamond drill
permits allow the C ompany to fully utilize all drilling and heavy equipment over the recently identified
gold targets situated on the Crippleback Lake Gold Project . Senior Management accompanied by it s
geology team recently visited Newfoundland and traversed and prospected the Crippleback Lake Gold
project discussing the upcoming target generation and planned drill targeting on the Project. The Cape
Ray Fault hosts Marathon Gold’s Valentine Lake Gold deposit, which is anticipated to be Atlantic
Canada’s largest gold mining operation, and Sokomon Minerals 100% wholly-owned Moosehead gold
discovery, also strategically located in the “Corridor of Gold” in central Newfoundland.
Commented Tim Coupland, “The addition of the new high-resolution airborne survey combined with our
soil sampling has helped us Identi fy multiple new prospective gold targets situated near Sokomon
Minerals 100% wholly -owned Moosehead Gold discovery . The new gold targets are situated either
alongside, or directly over the Cape Ray Shear Zone , are an important confirmation of the model
associated with the shear zone and validate the continuation and confirmation of multiple gold
anomalies situated on the property. The results of our recently completed Heli -GT Triaxial Magnetic
airborne survey have greatly helped us identify multiple new structural lineaments and potential drill
targets located on the Crippleback Lake Gold Project and have assisted greatly in identifying, developing
multiple new gold targets and refining drill targeting prior to drilling. This gold exploration opportunity
has now generated multiple gold targets for the project and quickly advance the Crippleback Lake Gold
Project.”
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Figure #1- Map and property compilation of existing and new gold - in soil results. Additional new go ld
targets have been identified along the Cape Ray Shear zone situated along the length of the property.
HELICOPTER HELI-GT MAGNETIC SURVEY
SHA Geophysics has completed a regional helicopter -borne Heli -GT Triaxial Magnetic Gradiometer
Survey on the Crippleback Lake Gold Project situated 45 km south of Grand Falls -Windsor, in central
Newfoundland and provided all of the new high resolution data sets to the Company for interpretation,
The geophysical survey consisted of 579 -line kilometers with traverse lines to be flown at 75 -meter
spacings and control lines flown at 1250 -meter line spacings directly over the Crippleback Lake Gold
Project claim-block, which lies directly above and over the Cape Ray Fault zone. The Heli- Gt Magnetic
Gradiometer Survey is now considered one of the exploration industry’s finest , state-of -the-art, deep
penetrating airborne tools used to enhance gold exploration. The helicopter borne survey produces deep
penetrating and newly generated survey data, which clearly identifies, enhances and in combination
with rock and soil -sampling, shows high -definition conductive gold targets, fault zones and structural
features often hidden in overburden. Airborne surveys are critical in the discovery of high grade -gold
and important in locating hidden base metal targets hidden in the structurally advanced Newfoundland
geological environment.
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EXPLORATION PERMITS GRANTED FROM THE GOVERNMENT OF NEWFOUNLDAND AND LABRADOR –
CRIPPLEBACK LAKE GOLD PROJECT
The Company has now received the necessary permit approval for Planned Mineral Exploration Work
from the Government of Newfoundland and Labrador, for the Crippleback Lake Gold Project situated in
the “Corridor of Gold”, in c entral Newfoundland. The newly issued exploration permit now grants the
Company permission to follow up on prospective gold targets recently identified by the Company’s
geological team and has brought the Project to the drill ready stage. The exploration permit allows for
prospecting, geochemical sampling, airborne geophysics and ground geophysics. Exploration
permitting, drilling permits were submitted for diamond drilling and the use of heavy equipment, now
that gold targets have been generated and fully defined on the Project . The Company is positioned to
move quickly, and to advance the gold potential of this centrally positioned gold property, which lies
directly over the Cape Ray Faulting system, the same faulting system that hosts the Marathon Gold’s
Valentine Lake Gold deposit and Sokomon’s 100% wholly-owned Moosehead gold discovery, located in
central Newfoundland’s Corridor of Gold.
CRIPPLEBACK LAKE GOLD PROJECT – CORRIDOR OF GOLD, CENTRAL NEWFOUNDLAND – HIGHLIGHTS:
• 121 mineral claims (3025 ha or 7475 acre) fully road accessible from the TransCanada Highway
with numerous secondary logging roads internal to the claims.
• Covers a 13 -kilometre strike length of the gold rich Valentine Lake Structural Zone midway
between Marathon Gold’s Valentine Lake Gold Deposit and Sokoman’s 100% wholly-owned high-
grade gold Moosehead Discovery.
• Robust Gold in lake sediment and till samples, with multiple till samples exhibiting delicate
(proximal to source) gold grains as well as angular float samples assaying up to 1.7 g/t gold.
• Appoints SHA Geophysics for a Heli-GT Magnetic Survey on entire Crippleback Lake Claimblock.
• Exploration Permits have been approved by the Government of Newfoundland and Labrador.
• Completes regional helicopter borne Heli-GT Triaxial Magnetic Gradiometer Survey.
• Drilling Permits have been approved and granted.
• Drill Targets identified.
SUMMARY TERMS OF AGREEMENT – SOKOMON MINERALS CORP.
Trans Canada can acquire 100% of the Crippleback Lake Gold Project by issuing 1,250,000 common
shares of Trans Canada, and meeting cash and work commitments totaling $600,000 over a 4- year
period. Sokoman will retain a 1.0 % net smelter return royalty on the Crippleback Lake Gold Project, with
Trans Canada having the right to buy down 0.5% of the royalty for $1,000,000.
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CRIPPLEBACK LAKE GOLD PROJECT- CORRIDOR OF GOLD, CENTRAL NEWFOUNDLAND
The Crippleback Lake Gold Project covers the northeastern extension of the regional scale Cape Ray
/Valentine Lake fault/Shear zone and is situated in the same geological units that host high grade gold
mineralization at Marathon’s Gold’s Valentine Lake gold deposit whic h is anticipated to be Atlantic
Canada’s largest gold mining operation. The Project is situated in the gold prolific and rapidly emerging
Corridor of G old in the c entral Newfoundland Gold Belt, and is ideally situated on trend between
Marathon Gold’s Valentine Lake gold deposit, and with Sokoman’s flagship Moosehead High-Grade Gold
discovery which is now in the midst of a 50,000 -metre (Phase 6) drill program. The Crippleback Lake
Gold Project is located near the Trans -Canada highway near Grand Falls, situ ated in north- central
Newfoundland, is easily accessible by a network of secondary logging roads and is only a short drive from
assaying and diamond drilling services in Springdale, Newfoundland. The Project has easy access to full
infrastructure and a skilled workforce.
TRANS CANADA GOLD PROJECT– THE DINORWIC GOLD PROPERTY
The Trans-Canada Gold Property consists of 741 non- surveyed contiguous mineral cell claims totaling
14,880 hectares located within the Kenora Mining Division of Ontario. The property is located within
the Wabigoon Greenstone Belt, which also contains the Thunder Lake Gold deposit and the Goldlund
Gold Deposit. The property contains a number of large shear zones containing quartz carbonate veins,
pyrite and arsenopyrite, underlain by mafic volcanics with felsic volcanics in the south. There is a large
regional scale iron carbonate alteration within the property, which is considered to be similar to that of
the Red Lake Mining Camp. The regional scale carbonate alteration within the property associated with
shear zones within iron -tholeiite are prime targe ts for gold exploration. The property has excellent
access, with the Trans-Canada highway bisecting multiple high priority targets in a north-south direction,
as well as close proximity to the large community of Dryden, Ontario. The property has access t o first
class infrastructure, with close proximity to a number of rail corridors and power lines. A number of gold
exploration targets have been identified within the property based on their association with regional
alteration, known gold showings, shear zones, complex patterns and offsets in the regional magnetic
map as well as spatial association with regional structures that has the potential to be well endowed
with gold mineralization.
Colin Bowdidge, Ph.D., P.Geo., a Qualified Person as defined by National Instrument 43 -101, has
reviewed and approved of the technical information disclosed in the news release.
ABOUT TRANS CANADA GOLD CORP. – GOLD MINERAL EXPLORATION/ OIL AND GAS PRODUCTION
Trans Canada Gold Corp. is a discovery focused Canadian Gold and Mineral E xploration and Oil & Gas
Resource Development Company that has accumulated a large property portfolio, and is currently
focused on developing its’ large District Scale Gold exploration project s in Northwestern Ontario and
Newfoundland. The Company is focused on developing its property portfolio, increasing production
capabilities, and increasing oil production revenues. The Company identifies, acquires and finances the
acquisition of large prospective gold exploration properties and the ongoing development of mining and
oil and gas assets primarily situated in Canada, a time-honored safe mineral exploration jurisdiction. The
Company has now acquired two large District Scale gold mineral exploration property oppor tunities in
Ontario, along with the Crippleback Lake Gold Project situated in the Corridor of Gold in c entral
Newfoundland, and continues to identify low risk exploration opportunities through selective
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acquisitions and development of mining exploration as sets situated in these favorable resource
jurisdictions. The Company has qualified Senior exploration management and Geological Mining teams
of professionals, seasoned in exploration production, field exploration and drilling. The Company has the
necessary manpower in place to develop its natural resource properties and manage its production
properties. The Company is committed to minimizing risk through selective property acquisitions, and
responsible exploration and development of mining, and petroleum and natural gas resource assets.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Tim Coupland, President and CEO
Trans Canada Gold Corp.
Tel: (604) 681-3131
www.transcanadagold.com
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Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.