MegumaGold Drilling Defines New Gold Halo at Killag Project - Seite 3

Figure 2a: Killag East 20 ppb threshold low level gold distribution in longitudinal section is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/4a36e65f-ec6d-40d7 ...

Figure 2b: Location map for the 2019 RC drill holes at Killag East is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/b6ce3860-c56d-4f2d ...

MegumaGold’s review of publicly available historic drilling data from the Nova Scotia goldfields (see “References” below) has shown that gold levels within interpreted alteration halo zones vary between deposits and also within individual deposits. However, where present, halo zone gold values typically fall in the range of 30 to 200 ppb. While very encouraging in an exploration context for the Killag Project, the Company cautions that presence of a low level gold halo such as that identified at Killag to date provides no certainty of association with a large, undiscovered gold deposit.

Review and Qualified Person
This press release has been reviewed and approved by Regan Isenor, Chief Executive Officer of MegumaGold Corp.; Michael Cullen, P. Geo., of Mercator Geological Services Ltd., an “Independent Qualified Person” as defined under National Instrument 43-101, has reviewed and approved the scientific and technical information included in this press release.

Technical Notes

Table 1: 2019 RC Program Low level Gold Intercepts  

Hole	From (m)	To (m)	Length (m)	Weighted Average Gold Grade (g/t)	No. <.02 Au g/t Intervals
KGRC-28	30	35	5	0.21	1
KGRC-31	31	40	9	0.17	2
KGRC-32	67	72	5	0.55	0
KGRC-34	17	30	13	0.08	1
KGRC-35	8	50	42	0.06	5
KGRC-35	55	60	5	0.23
KGRC-35	70	100	30	0.11	1
KGRC-36	8	89	81	0.10	5

Note: True widths of the above intercepts are currently unknown. Included sample intervals with gold grades greater than 1 g/t were capped at 1 g/t to reduce grade smearing. A maximum of 1 sample in ten not meeting a 20 ppb cut-off value was allowed in continuously mineralized sections. Intervals measuring less than 5 m are not included.