Kestrel Gold - Corporate and Exploration Update

CALGARY, AB / ACCESSWIRE / August 1, 2023 / Kestrel Gold Inc. ("Kestrel" or the "Corporation"),(TSXV:KGC) is pleased to provide an update on corporate and exploration activities.

• Results for the 2023 QCM prospecting program have been received, compiled, and interpreted. Highlights include work at Area G where sampling of sheared, gougey and carbonate altered argillite cut by a quartz limonite vein returned values of from <0.005 g/t Au to 2.085 g/t Au. The peak value of 2.085 g/t Au was returned from a 1.2 metre channel sample of wallrock to a 40-centimetre-wide southeast striking quartz limonite vein, 2022 sampling of which returned 1.11 g/t Au. Area G is located approximately 600 metres southeast of 14 Vein where drilling in 2022 returned up to 2.33 g/t Au over 44.19 metres.
• A representative of a major mining company was toured on the QCM property. Kestrel has had discussions with the major mining company with a view towards facilitating further advancement of the QCM property.
• The Corporation has finished the permitting process for a three-year exploration permit for the QCM property allowing for reverse circulation ("RC") drilling and excavator trenching from the British Columbia Ministry of Mines, Energy and Low Carbon Innovation ("Ministry"). The permit will become active upon Kestrel supplying an approved RC drilling dust suppression plan to the Ministry.

Rob Solinger, President and CEO of Kestrel, states: "We are pleased to continue advancing the QCM project. Diligent prospecting continues to yield discoveries of merit, particularly in the area of 14 Vein where potential for a potentially significant mineralized trend continues to be demonstrated and expanded upon. We are also encouraged to have a representative of a major mining company reach out to us and request a tour of the project. The tour was completed and discussions between the major mining company and Kestrel are ongoing. Finally, the receipt of the exploration permit will allow us to continue systematic exploration of the various mineralized showings and anomalies found across the property, including further drilling at 14 Vein, Main Zone and various other significant showings and anomalies including Area G."