Evergold Starts Drill Program at DEM Copper-Gold-Silver Prospect, B.C.

TORONTO, Oct. 19, 2023 (GLOBE NEWSWIRE) -- Evergold Corp. (TSX-V: EVER, WKN: A2PTHZ) (“Evergold” or the “Company”) is pleased to announce that first-ever drilling of the Company’s road-accessible DEM porphyry Cu-Au-Ag prospect, located in central B.C., is now underway. The program will encompass up to 1,000 metres of drilling in multiple holes targeting the DEM geochemical trend and underlying high-order geophysical anomalies, with completion anticipated for early November. Field operations are being carried out from a base in Fort St. James, located 40 kms to the southeast of site.

“It is always a thrill to drill the first holes into a really strong-looking exploration prospect,” said Kevin Keough, President & CEO. “I’d like to thank those shareholders who have made this possible by supporting our recent financing. DEM offers the real prospect of delivering a new discovery, to which end we are very much looking forward to the results of this program. In the event it goes well, the Company will be well positioned to embark on a follow-up program in the spring.”

The DEM prospect is a roughly 4 km² copper-gold-silver porphyry system defined by multiple supporting data sets. These include multi-element geochemical anomalism in soils, including highs to 2.1 ppm Au, 160 ppm Ag, >10,000 ppm As, 651 ppm Cu, 0.5% Pb, and 0.41% Zn, overlying compelling strong magnetic and IP chargeability and resistivity anomalies associated with favourable geology and regional scale structures. These datasets, combined, suggest high discovery potential. Further details on the DEM prospect may be found on the Company’s website at www.evergoldcorp.ca/projects/dem-property/ and in a NI 43-101 technical report entitled “Technical Report on the DEM Property” dated August 30, 2023, posted thereon and on the Company’s issuer profile at SEDAR+.

Quality Assurance and Quality Control

Charles J. Greig, M.Sc. P.Geo., the Company’s Chief Exploration Officer and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical information in this news release.

About Evergold

Evergold Corp. is a TSX-V listed mineral exploration company with projects in B.C. and Nevada. The Evergold team has a track record of success in the junior mining space, most recently the establishment of GT Gold Corp. in 2016 and the discovery of the Saddle South epithermal vein and Saddle North porphyry copper-gold deposits near Iskut B.C., sold to Newmont in 2021 for a fully diluted value of $456 million, representing a 1,136% (12.4 X) return on exploration outlays of $36.9 million.