Blackwolf Commences Field Work at Cantoo and Mineral Hill Properties, Golden Triangle, Alaska

VANCOUVER BC / ACCESSWIRE / July 5, 2022 / Blackwolf Copper and Gold ("Blackwolf", or the "Company") (TSXV:BWCG)(OTC PINK:BWCGF) is pleased to announce that it has commenced surface exploration work at its 100%-owned Hyder area Properties, located northwest of the towns of Stewart, BC and Hyder, AK on the Alaskan side of the Golden Triangle. Due to high snowpacks in Alpine areas, initial work is concentrated on the high-grade Cantoo vein targets and the recently staked Mineral Hill Property, adjacent to Ascot's Premier Gold Project that is currently in development. Exploration at the Texas Creek and Casey Properties will commence later during the 2022 Field Season.

The priority of this initial work is to prepare for initial drilling at the Cantoo Property, where large, outcropping quartz veins and breccias were identified with high-grade gold, silver and copper mineralization. Permits are expected shortly from the US Forest Service for diamond drilling. Additionally, rock and soil sampling, mapping and assessment of historic prospects and workings will be performed.

"The wide, stacked veins identified by Blackwolf's crews in 2021 at the Cantoo Property are the most compelling targets that I've seen in my career in the Golden Triangle," said Rob McLeod, President and CEO of Blackwolf. "Additionally, we are excited to evaluate all of our claims in the Hyder area, which has not seen significant exploration since the 1930's. We look forward to an exciting season of exploration and discovery. Our plans for our recently permitted flagship Niblack Cu-Au-Zn-Ag VMS deposit, also in southeast Alaska, will also be announced in the near future."

The Mineral Hill and Cantoo Properties cover a five kilometer long, northwest striking trend of multiple gold, silver and polymetallic prospects historically explored by trenches and underground drifting, but with no modern exploration.

CANTOO PROPERTY

Located due east of the Premier, Silver Coin and Premier deposits currently in development by Ascot Resources and likely part of the same metallogenic system, the Cantoo property hosts at least two wide, shallow southeast dipping vein structures up to 30 meters in thickness. Historic literature describes an upper ‘gold rich' vein and a lower ‘silver rich vein' with a single historic sample from the upper vein collected by USGS government geologists in 1995 assaying 27.7 g/t Au (Maas et al 1995). These veins are exposed on cliff faces that are clearly observed from the air and represent obvious targets for diamond drilling; Historic adits and two aerial tram lines cables from work in the late 1920's helped Blackwolf's geologists to locate the veins (see Figure 1). According to Alaskan territorial records, ore was direct shipped from surface without blasting; work ceased on ambitious development plans at Cantoo after the stock market crash of 1929. Grab samples by Blackwolf from limited sampling along scree slopes below the cliffs assayed up to 30.4 g/t Au, 2,860 g/t Ag, and 5.8% Cu (see Blackwolf's release dated Feb. 23, 2022). Multiple vein styles and strong alteration of different diorite intrusive phases were observed.