Gold Standard Ventures Reports 2021 Annual Results

VANCOUVER, British Columbia, March 29, 2022 (GLOBE NEWSWIRE) -- Gold Standard Ventures Corp. (NYSE AMERICAN: GSV) (TSX: GSV) (“Gold Standard” or the “Company”) announces the Company's audited consolidated financial results for the year ended December 31, 2021. For details of the audited consolidated financial statements, Management's Discussion and Analysis, Annual Information Form, and Form 40-F for the year ended December 31, 2021, please see the Company's filings on SEDAR and EDGAR.

Jason Attew, President and CEO, commented, "Gold Standard had a very productive year in 2021, culminating in the recent release of the South Railroad Project Feasibility Study last month. The study outlined peer leading returns for undeveloped gold projects, and we are excited to continue de-risking the asset in 2022 with an exploration program focused on oxide resource expansion at Pinion, oxide definition drilling at the LT target, sulphide resource step out drilling at North Bullion, and inaugural drilling at the Ranch sulphide target to the north of Dark Star. Our exploration program, combined with the advancement of our permitting application and commencement of our construction capital financing process, will lead to plenty of news flow in 2022 as we advance towards our goal of becoming Nevada’s low-cost junior producer of choice.”

2021 and Recent Highlights

• At the end of 2021, Gold Standard staff had worked 3,627 consecutive days without a lost time accident.
• On January 5, 2021, announced the reconstitution of the senior leadership team with the appointments of a Chief Operating Officer; a new Chief Financial Officer; and a Vice President, Corporate Development & Investor Relations. Combined with the CEO change, four senior executives were appointed, and four senior executives departed.
• On February 1, 2021, announced the Company’s Plan of Operations had been deemed complete by the BLM.
• On February 17, 2021, completed a bought deal financing of 39,215,000 common shares at a price of C$0.88 per share for gross proceeds of C$34.5 million.
• On March 9, 2021, engaged Cutfield Freeman & Co. as construction capital financial advisor to assess all avenues of construction funding for the South Railroad Project (“SRP”).
• In April, August, September, and November 2021, announced drill results at the Pinion, Dark Star and POD / Sweet Hollow deposits, as well as the LT target. Highlights included step out drilling at the Pinion SB Zone with the goal of expanding mineralization at Pinion to support mine life extension, deeper RC drilling at Dark Star to define the transitional and sulphide ore directly below the contemplated oxide pit boundary, and definition drilling at the near-surface oxide gold LT target located near the Plan of Operations boundary of the SRP.
• On November 10, 2021, announced an update to the SRP permitting process, including the engagement by the BLM of SWCA Environmental Consultants to manage the Environmental Impact Statement process.
• On February 23, 2022, announced the results of the Feasibility Study for the SRP outlining a 10.5-year operating life producing an after-tax NPV₅ of US$315 million, an IRR of 44%, and a 1.9 year payback period at a gold price of US$1,650 per ounce.
  • At Spot Gold Price of US$1,899 per ounce as of February 18, 2022, after-tax NPV₅ increases to US$487 million, IRR increases to 62%, and the payback period drops to 1.6 years.