Goat Industries Adds to Claim Block in Central British Columbia, Canada, Situated 2.65 km From American Eagle Gold’s NAK Copper Discovery

VANCOUVER, British Columbia, Nov. 29, 2022 (GLOBE NEWSWIRE) -- Goat Industries Ltd. (the “Company” or “GOAT”) (CSE: GOAT), is pleased to announce that it has acquired through staking additional claims (the “Additional Claims”) in the vicinity of American Eagle Gold Corp.’s (“American Eagle Gold”) copper mineralized NAK discovery (the “NAK Copper Discovery”), located approximately 85 kilometres from Smithers, British Columbia.

The Additional Claims contain a historic British Columbia Minfile occurrence to the northeast of the recently reported NAK Copper Discovery, which add to the additional claim block recently acquired by the Company in the immediate vicinity. On November 7, 2022, American Eagle Gold announced results showing 125 metres of 1.02% copper equivalent from surface within 851 metres of 0.33% copper equivalent from their maiden drill hole at the NAK Copper Discovery. The Boliden Group subsequently entered the area with an agreement to earn up to 70% interest in the Duke Copper-Gold District by funding up to $90 million of expenditures as announced on November 22, 2022.

The Additional Claims contain a historic occurrence reported under British Columbia Minfile 093N 108, which reports “…chip samples of partially oxidized material from three shallow pits, 1.5 to 2.4 metres deep, returned copper values of 0.05 to 0.38 per cent (Property File Cyprus Anvil M.C. Erskine Jr., 1966)…” and “…locally, trace to 0.3 per cent disseminated to blebby and fracture-filling chalcopyrite associated with pyrite and pyrrhotite have been identified in potassic-altered intrusives over an area of approximately 488 by 975 metres.”

The area is a known porphyry copper gold district which hosts the NAK Cooper Discovery as well as Morrison, Dorothy, Duke and the past producing Bell Copper Mine, and several historical occurrences including the one reported on the Additional Claims which has not yet had any modern day porphyry copper exploration methods applied. Porphyry copper-gold deposits world-wide are known to exist in clusters as per publications by US Geological Survey, and by authors Sillitoe and Zhu.

Copper is an important industrial mineral used in the production of electric vehicles, electric vehicle battery production and the infrastructure needed to power electric vehicles and industrialization worldwide.

Readers are cautioned that the presence of mineralization on claims adjacent to those held by the Company is not necessarily indicative of mineralization that may exist on claims held by the Company.