Eskay Mining Drills VMS Mineralization at Four New Targets at Its Consolidated Eskay Project, Golden Triangle, BC - Seite 2

Tarn Lake: The Tarn-Lake target is situated on the west side of Bruce Glacier and saw limited drilling in 2022 that yielded encouraging precious metal results. Three holes completed to date have encountered sulfide stockwork mineralization ranging from 30-130m in length, much longer than recorded in drilling in 2022. Spot XRF analyses indicates this stockwork mineralization is highly elevated in silver, copper, lead, zinc, arsenic, and antimony. Mineralization is thought to be hosted by rocks in the lower part of the Hazelton Formation near a paleo-sea floor position much like Scarlet-Knob-Bruce Glacier to the east. One additional hole is being drilled at this exciting discovery this year.

Hexagon-Mercury: Targeting at Hexagon-Mercury, situated on the western flank of the Eskay Anticline approximately 9 km south of Eskay Creek mine, has been driven by geophysical anomalies interpreted by Riaz Mirza of Simcoe Geoscience. The first of two drill holes completed to date yielded an intercept of over 100m of appreciable stockwork sulfide mineralization hosted by volcanic rock thought to be part of the lower Hazelton Group. Spot XRF analyses indicate this stockwork is moderately to strongly anomalous in arsenic and other pathfinder elements. Eskay Mining is contemplating following up this discovery with further drilling this season.

The last target to be drill tested this season is Storie Creek, an as yet undrilled area situated just 3.5 km SSE of the Eskay Creek mine (Figure 2). Recent geologic interpretation by Eskay Mining's team discussed in a Company news release dated July 27, 2023 indicates that uppermost Hazelton Group strata including the Contact Mudstone sub-crops underneath the NE-trending Storie Creek drainage and dips gently northwestward underneath a veneer of post-mineral Bowser Lake Formation sedimentary rocks. Extensive gossanous outcrops of Upper Hazelton Formation rocks were discovered along the eastern side of Storie Creek over a strike length of at least 4 km. Gossan forms from weathering of sulfides that may be associated with mineralization. Upon review of historic soil data dating back to the early 1990's, Eskay's geologic team has identified two areas where high silver-in-soil values occur, an indication that the Storie Creek gossanous outcrops are likely associated with mineralization. Two drill holes are planned at Storie Creek beginning in a few days.