Pacton Provides Update on Acquisition of High-Grade, District-Scale Copper Project in Labrador, Canada

VANCOUVER, BC / ACCESSWIRE / November 16, 2022 / Pacton Gold Inc. (TSXV:PAC)(OTC PINK:PACXF)(FSE:2NKN) (the "Company" or "Pacton") is pleased to provide an update on the status of the acquisition of the district-scale Adeline copper project in Labrador, Canada (see news release dated October 19, 2022) (Figure 1 below). The TSX Venture Exchange will lift the halt on trading of the Company's common shares effective November 17, 2022.

Project Highlights

Adeline - an accelerated entry into copper. Adeline checks all the exploration and investment boxes in both the industrial and strategic metals markets: enthusiastic mining jurisdiction (Newfoundland and Labrador, Canada), hundreds of significant copper targets over a sedimentary belt measuring 40 km by 15 km, demonstrated ore grades and thicknesses at several prospects encountered by reconnaissance drilling, and remote from urban centers but accessible for exploration and development (Figure 2).

Geology points to district-scale potential. The Adeline Cu-Ag project shares certain key characteristics, such as regional scale, age of mineralizing event (Proterozoic, about 1 billion years) and(or) formational geology with several giant sediment-hosted copper mineral systems that contain significant copper deposits, including:

• Keweenawan Copperbelt, Michigan

White Pine: 230MT at 1% Cu, 12 g/t Ag

Copperwood: 100MT at 1.4% Cu, 4 g/t Ag

• Udokan Mine, Russia

Mineral Resources: 2.75BT at 0.97% Cu, 11.9 g/t Ag

Mine Reserves: 1.2BT at 2.0% Cu

• Central African Copperbelt

Ivanhoe's Kamoa-Kakula project: 1.4BT at 2.74% Cu (Indicated) over vertical thickness of 6.5 m, 339MT at 1.68% Cu (Inferred) over vertical thickness of 4.5 m

Chambisi Mine, Zambia: 200MT at 2.00% Cu

Chambisi West, Zambia: 45MT at 2.25%

Nkana-Mindola, Zambia: 612MT at 2.5% Cu

• El Soldado Mine, Chile

Global Resource: 200MT at 1.35% Cu, 10-20 g/t Ag

Mine Production: 70MT at 1.80% Cu (similar but much younger age)

Focused Acquisition Strategy. Pacton's business strategy and objective are to explore and de-risk the Adeline property to a stage that justifies its acquisition and development by a global copper producer.

Foto: Accesswire

Figure 1. The Adeline project is located in central Labrador, Newfoundland and Labrador, Canada.

Foto: Accesswire

Figure 2. The Adeline project totals 297 km², covering an entire sedimentary basin with approximately 250 known copper occurrences.