Gander Gold Expands Lizard Pond Claims - Gander South Project

VANCOUVER, BC / ACCESSWIRE / December 7, 2023 / Gander Gold Corp. ("Gander" or the "Company") (CSE:GAND)(OTCQB:GANDF), is pleased to announce that has signed a binding Letter of Intent ("the LOI") to purchase additional claims contiguous to and in the immediate area of its Lizard Pond claims, part of the larger Gander South Project. Gander previously announced 2023 Rotary Air Blast (RAB) drill results from the Lizard Pond Claims which identified significant gold bearing mineralization across all 65 meters of each of the three RAB drill holes at Lizard Pond (see November 30, 2023 news release) .

The three licenses acquired by Gander were previously collectively referred to by Puddle Pond as the "Great Bend Project," which hosts at least five known historic gold occurrences (Figure 1), with grab samples ranging as high as 22.2 g/t Au (Stares, 2005). High grade gold on the property is associated with quartz-arsenopyrite-carbonate veining. The claims are located at the intersection of several major regional structures, including the Dog Bay Line, and are contiguous to New Found Gold's Queensway South Project to the East and South (Figure 2). New Found Gold undertook an inaugural 7,255 meter diamond drill program at Queensway South in 2022, from which they reported 27 of 33 holes hit significant Au mineralization, with visible gold present in 10 holes across 4 target areas. Surface exploration activities and ongoing diamond drilling has been performed by New Found Gold at Queensway South in 2023.

Gander Gold President and CEO, Mr. Mark Scott, commented, "Gander Gold is very pleased to announce the addition of 26 new claims to our original 42 claims at Lizard Pond, where Gander recently identified a significant gold bearing system, with gold mineralization present throughout all 65 meters of each of the project's three 2023 RAB drill holes. The new claims contain historic high grade gold occurrences and extend the Lizard Pond claims along the interpreted strike of the system targeted by this year's RAB drilling. The local geology and structures are favorable, with the Dog Bay Line and Appleton Fault in close proximity to our claims. Gander looks forward to follow up exploration and drilling at Lizard Pond in 2024."