The Price of Gold Rises on Favorable Indicators - Seite 2

Tightly spaced (50m) ground magnetometer surveys are underway at Schooner, in addition to the airborne VTEM, to enhance the definition of the target to drill ready scale.

Exploits drilling placement follows on the same targeting techniques used by New Found Gold Corp. at the Keats Zone; targeting secondary and tertiary displacement structures that are permissive for the deposition of gold that has been mobilized up through deep seated structures such as the Appleton or Schooner Faults.

The Company is fully funded for its 12,000m spring and summer drill program with 2 targets permitted and 3 drill permit applications pending.

Michael Collins, President and Chief Executive Officer of Exploits, commented: "The past six months at Exploits has been about prospecting, trenching, consolidating historical information, and prioritizing targets.  The spring and Summer of 2021 are about drilling for Discovery.  The schooner permit is the second of a minimum of 5 drill permits that we intend to have in place when the snow comes off in the spring of 2021."

About 2021 Diamond Drilling

Exploits has identified 3 discrete targets on the Schooner fault within the company's 100% wholly owned Mt Peyton gold project for drilling. Drill permits have been received for 12 holes (3,000m) at the Schooner prospect in Mt. Peyton, targeting secondary displacement faults stemming from the Schooner Fault, a deep-seated fault zone 3.5 km west and trending subparallel to New Found Gold's Keats Zone along the Appleton Fault. The target has been deemed analogous to the Keats Zone due to the similarities in structural control and both locations being hosted in Davidsville Group sediments.

A tightly spaced (50 metres) ground magnetic geophysical survey has commenced over the highlighted target areas and is expected to be completed in the next couple weeks. The high-resolution data it produces will allow the company to get a detailed image of the Schooner Fault and its associated secondary structures that are not obvious in the regional geophysics that the fault was identified in. This will allow for optimized drill locations to best test the Schooner target.

With the success of the target generation through high resolution airborne VTEM geophysics and GoldSpot Discoveries' ("Goldspot") (TSX.V: SPOT) A.I. and data analysis technologies on Exploits' southern projects, the company has expanded its survey area to cover the Mt. Peyton and Dog Bay Gold Projects. This will include 6,530 line kilometres at 100 metre spacings, focused on covering the Dog Bay Line and Appleton Fault Zone corridors that contain high grade gold in outcrop samples including 194 g/t Au at the Little Joanna Veins and 61.3 g/t Au at the Quinlan Veins respectively. A second helicopter has commenced flying the new lines with the other helicopter finishing up flying the southern projects before moving to the northern projects.