Storm Exploration to Acquire the Toogood Gold Project

VANCOUVER, BC / ACCESSWIRE / September 25, 2023 / Storm Exploration Inc. (TSX-V:STRM) ("Storm" or the "Company") is pleased to announce that it has executed an option agreement with Prospector Metals Corp. ("Prospector") in which Storm can earn up to 100% in the Toogood Gold Project located along the north shore of Newfoundland, Canada (See Figure 1).

Project Highlights

• District scale land package covering 118 sq-km and 28 km of strike length along a regional structural corridor that has proven to be prospective for gold deposits,
• Includes the drill-confirmed high-grade Quinlan Zone:
  • Assay results from maiden drill program (2022) include: 23.90 g/t Au over 3.65 m, 18.27 g/t Au over 4.25 m and 9.40 g/t over 3.18 m.
  • High-grade gold mineralization is hosted within a felsic dyke and has been confirmed for 200 m along strike, 120 m down-dip and remains open in all directions.
• Road accessible and fully permitted for drilling,
• Numerous additional occurrences with visible gold identified across the property.

"The Toogood Gold Project is an exceptional opportunity for Storm," stated Bruce Counts, President and CEO of Storm. "The drill-confirmed high-grade gold at the Quinlan Zone underscores the potential for the discovery of a multi-million-ounce gold deposit."

Mr. Counts continued, "in addition, plans and permits are in place to expand and extend mineralization at the Quinlan Zone allowing Storm to begin advancing the project quickly."

Toogood Gold Project Overview

The Toogood Gold Project located on New World Island, approximately 65 km north of Gander, Newfoundland. The property is road accessible and lies at the northeast extent of the Exploits Subzone, a major structural corridor in central Newfoundland. The Exploits Subzone trends 200km northeast / southwest across the island of Newfoundland, and hosts many of the significant gold deposits in the province, including Marathon Gold's Valentine Project which has an established resource of 2.7 Moz at 1.62 g/t Au (Reserve) and 3.96 Moz Au at 1.90 g/t (M+I).

Gold mineralization at Toogood is hosted by a suite of Devonian felsic dykes which crosscut the property, emplaced in the latter stages of a complex tectonic history. Gold mineralization is associated with arsenopyrite, pyrite, trace chalcopyrite, and fine-grained native gold and is concentrated along brittle fault intersections.