Manitou Gold Intersects 1.5 g/t Gold Over 15 Metres; Doubles Size of Drill Program at its 100% Owned Goudreau Property

SUDBURY, Ontario, Jan. 12, 2021 (GLOBE NEWSWIRE) -- Manitou Gold Inc. (TSX-V: MTU) (the “Company” or “Manitou”) is pleased to announce additional assay results from its ongoing drill program along the eastern portion of the Baltimore deformation zone (the “BDZ”) on its 100% owned Goudreau Project in Northeastern Ontario. Highlights of drill results are from the Stover zone (located within the BDZ), where the Company has completed six drill holes to date.

Highlights:

• All additional holes at the Stover zone continue to intersect wide zones of gold mineralization with highlight results of 15 m of 1.5 g/t Au (at 157.3 m downhole depth), including 5.3 m of 2.7 g/t Au, in hole MTU-20-56;
  
  
• Footprint of gold mineralization at Stover now extends for 200 m along strike, to vertical depth of approximately 150 m; and remains open in all directions;
  
  
• Known gold mineralization occurs within a magnetic-lows trend that extends for several kilometres along strike, where it remains untested by drilling;
  
  
• Based on positive drill results, the winter drill program on BDZ has been increased by at least 100% to 10,000 metres minimum, from 5,000 metres;
  
  
• Second drill is on site and drilling has resumed. Drilling is focused on testing extensions of the Stover occurrence and first-pass testing of 29 high-priority geophysical and geochemical targets located along a 5 km segment of the Baltimore deformation zone. An additional 12 km strike length of the BDZ on Manitou’s property has seen little to no previous exploration.
  

See location map of BDZ within Manitou’s Goudreau Project area.

See map illustrating drill hole locations and priority drill targets.

“We are excited to be kicking off the new year by doubling our planned drilling program from 5,000 metres to 10,000,” stated Richard Murphy, President and CEO of Manitou Gold. “We are picking up the pace by adding a second drill to the project, which will allow us to test the numerous high priority targets along the Baltimore deformation zone and to complete the first deeper drilling at the Stover zone which has reached a maximum vertical depth of approximately 150 metres. The doubling of our planned drilling and the addition of a second rig is based on the very encouraging results to date and the fact that we have 29 more high priority targets to test, in addition to continued drilling at the Stover zone.”