P2 Gold Announces Initial Mineral Resource Estimate for the Monarch Gold Zone at the BAM Project - Seite 3

Silver
(M oz) Gold Eq.
Grade
(g/t)
Gold Eq.
(M oz) 0.6 10.2 0.97 3.04 0.32 0.99 1.00 0.33 0.4 18.0 0.75 2.82 0.43 1.63 0.78 0.45 0.2 27.2 0.59 2.52 0.52 2.21 0.62 0.55

(1)    Refer to the footnotes to the Mineral Resource Estimate in Table 1 of this Press Release.
(2)   The Mineral Resource Estimate cut-off grade sensitivities in Table 2 are a subset of the Mineral Resource Estimate in Table 1.

2023 BAM Exploration Program

The focus of the 2022 BAM Drill Program was to attempt to define the limits of the epithermal surface mineralization at the Monarch Gold Zone and provide geologic information to aid in the interpretation of the airborne and ground geophysical surveys. This interpretation of the geophysical surveys is essential to the discovery of the higher-grade feeder systems for the near-surface epithermal gold mineralization and any associated porphyry mineralization at depth.

During 2023, crews are expected to mobilize to BAM in mid-May with the first drill mobilized to site in early to mid-June. A three-dimensional geophysics interpretation of the BAM Project, incorporating the results of the natural source magneto-telluric (NSMT) geophysical survey and the Z-Tipper Axis Electromagnetic (ZTEM) airborne geophysical survey is expected to be completed shortly. This interpretation will be compiled with the available drill data and surface mapping to develop targets for the 2023 BAM Exploration Program to test for the feeder zones and the porphyry system at depth.

Quality Assurance

The Monarch MRE was prepared under the supervision of Eugene Puritch, P.Eng., FEC, CET of P&E Mining Consultants Inc. of Brampton, Ontario, who is an Independent Qualified Person, as defined by National Instrument 43-101. Mr. Puritch has reviewed and approved the technical contents of this news release relating to the Monarch MRE.

Ken McNaughton, M.A.Sc., P.Eng., Chief Exploration Officer, P2 Gold, is the Qualified Person, as defined by National Instrument 43-101, responsible for the BAM Project. Mr. McNaughton has reviewed, verified, and approved the scientific and technical information in this news release.