Eskay Mining's 2023 Exploration Program Focuses on Discovering "Eskay Creek V2.0" at its Consolidated Eskay Project, Golden Triangle, BC

TORONTO, ON / ACCESSWIRE / May 18, 2023 / Eskay Mining Corp. ("Eskay" or the "Company") (TSXV:ESK)(OTCQX:ESKYF)(Frankfurt:KN7) (WKN:A0YDPM) is pleased to announce its exploration plans for 2023 at its Consolidated Eskay Project, Golden Triangle, BC. As presented in a Company news release dated March 13, 2023, multiple new compelling targets have been identified through proprietary processing of detailed magnetics data by Riaz Mirza and his team at Simcoe Geosciences. These targets provide Eskay Mining with a long list of high-quality drill targets to pursue this season.

"I believe we are on the right path to the discovery of Eskay Creek V2.0," stated Mac Balkam, CEO of Eskay Mining Corp. "Simcoe Geoscience's modelling results of detailed magnetics data clearly show that we have several targets across our property that bear strong resemblance to the distinct patterns evident at the Eskay Creek Mine ("ECM"). Eskay's geologists have developed plans to pursue these targets with early boots on the ground work followed closely by highly targeted drilling. We see this data as a potential ‘Holy Grail' that points us toward targets with potential to deliver similar discoveries! The last three years of intensive exploration and data gathering has led to this critical point in our ability to define targets, some displaying strong similarities to the ECM. Primary new drill targets include Maroon Cliffs ("MC"), located a few kilometers due east of the ECM, and Hexagon Mercury ("HM"), located a few kilometers directly south of the ECM. Both MC and HM display remarkable geophysical likeness to the Eskay Creek deposit."

Balkam continued, "For the 2023 program, we intend to use our current cash reserves, cut infrastructure commitments, and seek non-dilutive sources of financing until the capital market environment changes appropriately. We are confident that we will be able to finance our planned 2023 exploration program."

Figures 1 and 2 shows the locations of MC and HM and other newly identified targets with respect to the ECM. Figures 3-5, compare the proprietarily processed magnetics response at MC and HM to that at the original ECM (Figure 6).

"The same very distinct magnetic signatures observed at the Eskay Creek deposit are visible at numerous locations across the Consolidated Eskay Property", commented Riaz Mirza, founder of Simcoe Geosciences and geophysical advisor to the Company. "I believe the MC and HM targets along with others we have identified provide excellent discovery potential putting us on the right path toward finding Eskay Creek V2.0."