Exploits drills 1.57 g/t gold over 4.5 metres at Jonathan’s Pond, Newfoundland

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Exploits Discovery Corp. [NFLD-CSE; RNRRF-OTCQB] reported initial assay results from its 100%-owned Jonathan’s Pond target and the remaining assays from its Quinlan Veins target.

Jeff Swinoga, President and CEO, commented, “These assay results are an encouraging start to understanding the potential of these targets as well as similar targets on our large land package. For Jonathan’s Pond, the western extension of the near-surface gold mineralization intersection is coincident with gold samples collected from trenching performed in 2020. These initial drilling results will inform our follow-up exploration plans for the areas that are open to the west of Jonathan’s Pond and to the north of Quinlan Veins.”

Exploits has received fire assay results for 16 of the 21 drill holes at Jonathan’s Pond. Drill hole JP-21-019 intersected 4.5 metres of near surface mineralization averaging 1.57 g/t gold from 16 to 20.5 metres downhole. A potential mineralized trend has been identified which is open to the west.

All Quinlan Veins assay results have been received. While these recent assay results did not add significant intersections to the previously reported 8.69 g/t gold over 0.45 metres, the mineralized possible mineralized trend remains open and untested to the north.

Jeff Swinoga further commented, “Once all ICP data has been received and additional detailed geochemical interpretation is reconciled with these drilling results we will prioritize additional targeting signatures at Jonathan’s Pond. We are pleased assays coming in at a faster pace and are hopeful that we will be able to report results from our Schooner North, Schooner South, Little Joanna and remaining Jonathan’s Pond targets soon. In the near term, we will be updating investors on our extensive exploration plans this year, including several new targets. We have been gearing up our exploration program and team to match the tremendous potential we see at our properties.”

The 2021 drilling program at the Jonathan’s Pond Project tested the down-dip extension of the known mineralized quartz vein system identified by prospecting, and subsequently uncovered during trenching. Drilling also tested anomalous signatures identified from the 2020 SGH soil programs.

Exploits has received gold fire assay results for 16 of 21 holes and ICP-34 results for 15 of 21 holes from the 2021 Jonathan’s Pond drill program. Assays for holes JP-21-013, JP-21-014, JP-21-015, JP-21-018, and JP-21-020 are pending.

Drill results for Jonathan’s Pond are tabled in the company’s press release.

Drill hole JP-21-019, was collared to test the down-dip extension of 5 metres ~east-west trending quartz veins with anomalous gold and visible pyrite and arsenopyrite. A 4.5-metre section of core from 16 to 20.5 metres averaged 1.57 g/t gold. Based on the 2020 trenching and these results, this potential mineralized trend remains open to the west and is largely untested.

Drill holes JP-21-001 to JP-21-017 were designed to test the down-dip extension of lower order east-west trending quartz veining, located adjacent to the northeast-southwest trending main vein (the Main Vein), which produced grab samples containing visible gold and returned fire assays of up to 28 g/t gold. Near-surface mineralization intersected in drill holes JP-21-016A and JP-21-017 indicates a potential mineralized trend which is open to the east.

Drill holes JP-21-013, JP-21-014, JP-21-018, and JP-21-020 were designed to test significant SGH gold anomalies southwest and north of the Main Vein identified from SGH soil sampling. JP-21-013 and JP-21-014 also undercut previous drilling to provide additional geometric controls of the quartz vein system. Assays are pending for these holes.

All assays for the 2021 drill program at the Quinlan Veins have been received. As previously discussed in the December 15th, 2021 news release, there is a correlation between the mineralization noted in drill holes QV-21-009 and QV-21-013, indicating a possible mineralized trend open to the north; however, detailed geochemical interpretation will be necessary to determine any additional signatures and targets.

All notable assays received to date for the Quinlan Veins. Highlights include hole QV-21-009 that returned 0.45 metres of 8.69 g/t gold that was previously reported. Hole QV-21-012 returned 1.1 metres of 1.06 g/t gold. Hole QV-21-103 returned 0.5 metres of 0.56 g/t gold.

Exploits Discovery holds the Jonathan’s Pond, Dog Bay, Mt. Peyton, Middle Ridge, True Grit, Great Bend, and Gazeebow projects covering approximately 2,000 km2 of mineral tenements. The 50% owned PB Hill projects syndicate covers an additional area of almost 2,000 km2.

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