Stallion Gold Acquires Richmond Mountain Gold Project from EMX Royalty

VANCOUVER, British Columbia, May 24, 2022 (GLOBE NEWSWIRE) -- Stallion Gold Corp. (TSX-V: STUD) (OTCQB: SLLGF) (Frankfurt: HM4) (“Stallion” or the “Company”) is pleased to announce that it has entered into an earn-in option agreement to acquire 100% interest in the Richmond Mountain gold project (the “Project”), from Bronco Creek Exploration Inc., a wholly-owned subsidiary of EMX Royalty Corporation (TSX-V: EMX) (“EMX”). The Project is a Carlin-style gold project located in the Eureka district of central Nevada, a district that has recently seen a resurgence in major exploration activity with the acquisition of the past producing Ruby Hill Mine by i-80 Gold Corp. in 2021.

“We are excited to be bringing the Richmond Mountain gold project into the Stallion Gold stable as it aligns with our strategy of using modern exploration to advance underexplored projects with significant mineral endowment potential, that are near, or right next to multimillion ounce deposits,” remarked Drew Zimmerman, Stallion Gold’s CEO.

Richmond Mountain Overview

The Project is located at the southern end of the Battle Mountain-Eureka trend, roughly 1 km east of the town of Eureka and consists of 117 unpatented lode mining claims covering 9.6 square km’s. Carlin-style mineralization consisting of jasperoid and decalcified carbonate-bearing rocks outcrop on the southern portion of the property within a north-south oriented structural feeder zone. This structural zone is subparallel and analogous to other structures that host Carlin-style gold mineralization elsewhere within the Eureka district. Examples include Lookout Mountain, Windfall, and the Ruby Hill Mine and Archimedes open pit where the younger, mineralized Eocene structures cut and overprint Cretaceous iron and base metal-rich skarn and carbonate replacement mineralization.

Previous work on the Project has outlined outcropping drill targets through soil and rock chip geochemistry in the south and CSAMT geophysical surveys in the north that indicate prospective host units are within reasonable target depths. Two shallow drill holes (both less than 500 m) were completed on the western side of the property that did not penetrate post-mineral cover, suggesting the concealed target area remains entirely untested.

Terms of Option Earn-In

Stallion can earn 100% interest in the Project by (all dollar amounts in USD):
1)		making execution and option payments totaling $500,000 over a five-year option period, and
2)		completing $1,500,000 in exploration expenditures before the fifth anniversary of the Agreement