Evergold Updates Holy Cross Exploration Model in Advance of Fall Drill Program - Seite 2

As shown on Figure 1, the Company interprets the observed widespread surface Au-Ag and pathfinder element anomalism, and silicious-pyritic and clay alteration as representing the upper levels of a potentially intact felsic intrusion-related, low sulphidation, epithermal gold-silver system, with the higher-grade parts of the system lying at depth (Figure 1). Testing this theory by targeting attractive coincident geophysical-geochemical anomalies, at least four of which have been identified to date, will be the focus of the approaching first-ever drill program. Crews are presently on the ground bringing up the soil sampling density, and flagging lines for an additional 16 line-kms of IP, with the IP to be completed in the coming months, prior to drilling.

“It’s always exciting to be the first to drill targets of this scale,” said Kevin Keough, President & CEO. “With Blackwater not too far to the south, we’re in fertile geological terrane, and very much looking forward to doing the work. The fact that we have these targets to drill, reflects the systematic approach to exploration applied to all our projects by our exploration team, CJ Greig & Associates, including at our Rockland, Nevada property, where the same methodical approach is revealing a felsic intrusive-extrusive complex similar to that at Holy Cross, associated closely with mineralization and promising geophysical anomalies.”

Photos accompanying this announcement are available at:

Figure 1: https://www.globenewswire.com/NewsRoom/AttachmentNg/7a8edd16-2702-4933 ...

Figure 2: https://www.globenewswire.com/NewsRoom/AttachmentNg/8fd8a15a-6000-42d7 ...

Figure 3: https://www.globenewswire.com/NewsRoom/AttachmentNg/713fbd0a-ddec-49aa ...

Quality Assurance and Quality Control

Charles J. Greig, P.Geo., a Qualified Person as defined by NI 43-101, has reviewed and approved the technical information in this news release.

About Evergold

Evergold Corp. is a Canadian explorer with four wholly-owned precious metals projects in B.C. (Golden Lion, Holy Cross, Snoball and Spanish Lake), and a single project under option in Nevada (Rockland). Company management is proven, with a track record of exploration success, most recently the establishment of GT Gold Corp. in 2016 and the discovery (see SEDAR / news, July 25 and Dec. 15, 2017 respectively) of the Saddle South epithermal vein and Saddle North porphyry copper-gold deposits near Iskut B.C., which hold more than 20 million ounces of gold equivalent in all categories (Saddle North NI 43-101 Technical Report, August 20, 2020). GT Gold was acquired in 2021 by Newmont Corporation.