Newmarket Gold Announces Further High-Grade Drill Results and Record Monthly Production at the Fosterville Gold Mine - Seite 2

Drilling on the Harrier Base Structure returned high-grade mineralization containing visible gold. Key intercepts include a record 129 g/t Au⁽¹⁾over 6.95m (ETW 6.2m) in hole UDH1868 (Including 877 g/t Au⁽¹⁾ over 1m [ETW 0.9m]) and 14.57 g/t Au⁽¹⁾ over 6.8m (ETW 5.9m) in hole UDH1869. These exceptional results reaffirm an increasing grade profile with depth in the Harrier gold system.

Eagle Fault underground definition drilling continues to return high-grade mineralization and has now been defined over a strike length of 730m and vertical extent of 350m with the return of key drill intercepts including 6.91 g/t Au over 5.2m (ETW 4.5m) in hole UDH1816 and 11.09 g/t Au over 1.4m (ETW 0.8m) in hole UDH1875B.

Highlight Drill Intercepts from Surface Based Growth Drilling at Fosterville Gold Mine:

• Surface based diamond drilling on the Lower Phoenix North system (8050mN) targeted Lower Phoenix Structures approximately 350m north of Lower Phoenix Mineral Reserves and returned a significant intercept of 6.5 g/t Au over 27.8m (ETW 25.0m) in hole SPD618C. Surface-based diamond drilling programs continue to confirm the resource expansion potential of the Lower Phoenix gold system.

Record Monthly Operating Results at Fosterville Gold Mine:

The mining of high-grade, visible gold-bearing structures as further defined by drill results announced today has contributed to record monthly production results at Fosterville for October, 2016.

• Record monthly production for October 2016 of 15,116 ounces of gold, exceeding the previous monthly record of 14,103 ounces produced in April 2016.
  
  
• Record monthly mill grade for October 2016 was achieved of 8.18 g/t Au surpassing previous monthly record of 8.09 g/t Au in May 2016.
  
  
• Record monthly mill recovery for October 2016 of 92.3% above the previous monthly record of 91.3% in June 2016.
  
  

1.	Visible gold present in drill intercept, ETW - Estimated True Width, All drill results are presented in Table 1

Mr. Douglas Forster, President and Chief Executive Officer, Newmarket Gold commented: "We are very pleased to report continued positive results from our drilling programs on the Lower Phoenix and Harrier South gold systems and record monthly production at our flagship Fosterville Gold Mine. October 2016 proved to be a significant month for the Fosterville operation achieving a record production output of 15,116 ounces of gold with a record mill grade and recovery of 8.18 g/t Au and 92.3% respectively. The mining of high grade visible gold bearing structures in the Lower Phoenix gold system has largely contributed to the record monthly production results. The down-plunge drilling of these structures has returned exceptional results supporting our view that Fosterville will be a highly productive operation for years to come with demonstrated continuity of structure and grade down-plunge from existing Mineral Reserves."