Canadian GoldCamps Corp. Acquires Central Newfoundland Gold Belt Licenses; Appoints Keats as Advisor - Seite 2

His career started with Noranda Mining & Exploration in the 1990’s focused in Newfoundland and Labrador. Mr. Keats has owned and operated a global exploration service company for 10+ years completing exploration programs in over seven different countries and covering most major mining jurisdictions around the world. Mr. Keats is currently the Senior Field Exploration Manager for Klondike Gold Corp. where he has worked for the past six years.

All Claims Are Proximal to the NE Trending Dog Bay Suture

The north-east trending Dog Bay Suture (or Dog Bay Line, as it is often referred to) and the parallel Appleton and JPB Faults have been identified as hosting significant gold-bearing potential, evidenced by New Found Gold’s discoveries on the neighbouring Queensway property, as well as Marathon Gold’s Valentine Lake deposit, approximately 150 km to the south.

The Bowater License, contiguous to the west with New Found Gold’s Queensway North property and the nearby high-grade Keats zone, where two drills are currently turning and an initial 12,000m drill program is targeted, returned historic grab samples of up to 20g/t Au by Noranda Exploration Company Limited² when it was discovered in 1987.

At the Bellman’s Pond license, as reported in the provincial assessment reports³, disseminated pyrite and arsenopyrite mineralization occurs in silicified and chloritic greywackes of the Davidsville Group. Two parallel, stratigraphically controlled, gossanous fault zones, spaced about 20m apart and 3-4 meters wide, have returned values up to 4.1 g/t Au with high arsenic values on limited sampling. These fault zones are open for expansion along strike and at depth. Heavy mineral concentrate sampling from tills on the property have returned up to 650ppb Au and 4320 ppm As, which are highly anomalous and warrant follow-up sampling as they occur outside of the known mineralization.

The O’Reilly showing, as reported in the provincial assessment reports^4,5, consists of an east-northeast trending zone of intense silicification and quartz veining in siltstone or very fine-grained sandstone. Vuggy quartz and chalcedonic silica are the dominant textures with the southern flank of the zone containing a black, silica sealed fault breccia. The alteration has been traced over a 3 km strike length and includes the O’Reilly extension showing 2 km to the northeast, which returned values of up to 6.35 g/t Au. The black, silica-sealed fault breccia at O’Reilly has returned a channel samples of up to 5.2 g/t Au and grab samples of 12.98 g/t.