Evergold Conducts Airborne Magnetic Survey of DEM Porphyry Property, B.C., in Preparation for 2024 Field Season - Seite 2

“Markets continue to be tough, but we remain very keen on the DEM1 prospect, and the wider DEM property,” said Kevin Keough, President & CEO. “The recent shout-out DEM received to an overflow crowd at Roundup – uniquely so among all the projects highlighted – is instructive. The results returned from our tiny first pass drill program were highly encouraging, and the industry is watching. We look forward to advancing the DEM1 prospect this summer, possibly with the participation of an industry partner, and to searching for additional targets on the largely unexplored, highly prospective DEM property.”  

About the DEM Project

The 10,451-hectare DEM property, located in moderate terrain only 40 kms northwest of Fort St. James in central B.C., lies toward the south end of the Nation Lakes porphyry camp and within the Quesnel Terrane, the latter of which hosts large deposits and long-life mines including the nearby Mount Milligan mine (50 kms to the northeast of DEM), and Lorraine deposit and, farther south, the Mt. Polley, Afton, Copper Mountain, and Brenda mines, in addition to the Highland Valley mines and deposits. Located central to the DEM property is the “DEM Halo” (a.k.a. “DEM1”) prospect, a roughly 4km² target area defined by alteration and mineralogy suggestive of the presence of a porphyry system, by a multi-element soil geochemical signature, including soil highs to 2.1 ppm Au, 160 ppm Ag, >10,000 ppm As, and 651 ppm Cu, by compelling high-relief magnetic and IP-chargeability anomalies, and by the presence of nearby regional scale structures. Extensive logging in the area and associated forest service roads provide drive-on access directly to the DEM prospect. All of these factors, when combined, indicate excellent discovery potential for a precious and strategic metals-enriched porphyry and related vein systems. 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+.

Qualified Person

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.

Figure 1: DEM Property February 2024 Heliborne Magnetic Survey Coverage Area. Total flight lines 1489.7 km.