Chibougamau Intersects Highest Grade Gold To Date in C-3 Zone

ROUYN-NORANDA, Quebec, March 24, 2020 (GLOBE NEWSWIRE) -- Chibougamau Independent Mines Inc. (CBG-TSX-V in Canada, CLL1-Frankfurt, Stuttgart and Lang & Schwarz Stock Exchanges in Germany, CMAUF-OTC in the US), herein called Chibougamau, wishes to inform shareholders that we have completed a four hole drill program in the area of the C-3 copper/gold zone on our 100% owned Bateman Bay property, located 8 km east of the Town of Chibougamau, Quebec in McKenzie Township.  Hole BJ-20-29 below is the last hole directed toward testing the C-3 zone of this drill program.

Hole BJ-20-29 (azimuth 210 degrees, dip at collar -72 degrees) assayed as follows:

From (m)	To (m)	Length (m)	Copper (%)	Gold (g/t)	Silver (g/t)	Cobalt (%)
433.62	434.50	0.88	5.04	13.34	27.6	0.033
434.50	436.00	1.50	2.37	0.74	9.7	0.020
436.00	437.00	1.00	0.93	0.64	3.8	0.012
437.00	437.89	0.89	1.96	0.66	9.1	0.013
433.62 – 437.89		4.27	2.50	3.30	11.9	0.019

And

From (m)	To (m)	Length (m)	Copper (%)	Gold (g/t)	Silver (g/t)	Cobalt (%)
440.83	441.91	1.08	2.49	2.85	11.4	0.019
441.91	443.00	1.09	5.53	16.15	31.3	0.058
443.00	444.27	1.27	2.87	22.05	20.8	0.053
440.83 – 444.27		3.44	3.59	14.15	21.18	0.044

The combined zones, including an intermediate 2.94 m low grade zone, averages 2.40% Cu, 5.98 g/t Au, 13.03 g/t Ag and 0.024% Co over a core length of 10.65m. True widths are thought to be fifty percent of intersection widths.