Scottie Resources Reports 12.6 g/t Gold and 4.43 g/t Silver Over 5.22 Metres at Scottie Gold Mine M-zone - Seite 2

2020 Drilling Program

The Company completed 7,040 m of drilling in 46 holes during 2020 and took 921 surface samples on its Scottie Gold Mine area projects. The Company has previously released high-grade drill results for the O-Zone, the Domino Zone and the Blueberry Zone (see news releases Oct 6, 2020 Dec 8, 2020, Jan 21, 2021). The high-grade M-Zone drill intercepts presented in this release complement drill results released in 2019 and 2020 on near mine targets, including the Domino and Blueberry Zones, and demonstrate the Company’s success in advancing multiple high-grade areas within the Company’s claims in and around the Scottie Gold Mine.

Figure 1: Plan view map illustrating the projected drill traces is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/866d140a-9ccf-456b ...

Scottie Gold Mine

The Scottie Gold Mine, which operated between 1981 and 1985, produced 95,426 gold ounces from 183,147 tonnes at an average recovered grade of 16.2 g/t gold. The mine ultimately shut down due to a drop in gold price combined with high-interest rates. Mineralization consists of east-west to northwest trending, steeply dipping, shear veins, that are comprised of pyrrhotite > pyrite ± quartz ± calcite. The veins are hosted in a package of andesitic volcanic rocks from the Hazelton Unuk River Formation that are situated adjacent to the contact with the Summit Lake stock, part of the Texas Creek Plutonic Suite. While 13 distinct gold-bearing vein zones have been identified on the Scottie Gold Mine Project, mine production was primarily from one vein (the M-zone).

Historical drilling of the Scottie Gold Mine was largely focused on mine production, with little work done on proving up substantial resources. The majority of historical drilling was done from underground, and therefore consisted of short holes with single targets – with very restricted drill pad locations. Recent exploration by Scottie has used the benefits of drilling from surface to target areas that were inaccessible with underground drill locations, and where possible to test multiple targets with individual holes.

Figure 2: High-grade gold occurrences is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b0fdeb39-8673-4365 ...

Figure 3: M- and O-Zone structures is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/74ffdfb3-41cf-47dd ...

Quality Assurance and Control

Results from samples were analyzed at MSALABS in Langley, Canada (an ISO 9001 accredited facility). The sampling program was undertaken by Company personnel under the direction of Dr. Thomas Mumford. A secure chain of custody is maintained in transporting and storing of all samples. Gold was assayed using a fire assay with atomic absorption spectrometry and gravimetric finish when required (+9 g/t Au). Analysis by four acid digestion with 48 element ICP-MS analysis was conducted on all samples with silver and base metal over-limits being re-analyzed by emission spectrometry.