Evrim Expands Footprint of Astro Gold System with New Showing and Initial RC Drill Results

VANCOUVER, BC / ACCESSWIRE / September 5, 2019 / Evrim Resources Corp. (TSX.V:EVM) (“Evrim” or the “Company”) is pleased to announce exploration results from its Astro Project in the Northwest Territories (“NWT”). The Astro project is a new gold discovery within a ten kilometre long structural corridor along the Yukon-NWT border and the product of two seasons of generative exploration with a wholly-owned subsidiary of Newmont Goldcorp Corporation (“Newmont Goldcorp”). Evrim and Newmont Goldcorp started project work at Astro in June and have completed a mag/VTEM survey, detailed geologic mapping, chip-channel and talus fine sampling and an eleven-hole reverse-circulation (“RC”) reconnaissance drilling program.

Exploration Highlights

• Vertical chip-channel sampling at the Radio prospect returned 3.3 grams per tonne (“g/t”) gold over 26 metres (including 12.5 g/t gold over 6 metres) across magnetite-pyrite skarn and overlying siltstone. Drill hole RAD19-01 intersected 1.36 g/t gold over 10.7 metres including 3.13 g/t gold over 3.05 metres.

• Additional chip-channel sampling at the Microwave prospect returned 3.6 g/t gold over 18 metres (including 7.2 g/t gold over 6 metres) and 3.1 g/t gold over 8 metres from trenches oriented normal to northwest-striking fractures;

• Ultraviolet (“UV”) is a new discovery one kilometre southeast of the Radio prospect and hosted within a similar stratigraphic horizon. Rock chip channels perpendicular to bedding returned 6.1 g/t gold over 4.0 metres.

• Drill hole GAM19-01, tested the northern end of a 1.2 kilometre long soil anomaly and returned 1.04 g/t gold over 6.1 metres including 2.65 g/t gold over 1.5 metres.

• A helicopter magnetics/VTEM survey has outlined a series of structurally controlled magnetic anomalies underpinning previously identified surface showings and gold-in-soil anomalies over a strike length of 9.5 kilometres.

“Evrim completed a substantial amount of work at Astro this season, and results continue to highlight a structural corridor of gold prospects extending for at least ten kilometres,” commented Evrim’s VP of Exploration, Dave Groves. “The RC scout drilling program focused primarily on testing stratigraphy in proximity to prospects and identified several new gold-bearing zones, including an interval of mineralized granodiorite east of Radio and silicified siltstone in a range-bounding fault at Gamma. These results, together with the mapping and sampling program that identified the UV prospect and gold-bearing quartz veining above Radio, are beginning to outline an extensive gold system along the eastern margin of the Border pluton.”

Evrim and Newmont Goldcorp acknowledge that the Astro Project is located within the traditional territory of the Sahtu Dene and Metis Comprehensive Land Claim and are committed to developing a positive and mutually beneficial relationship based on respect and transparency.

Astro Project Technical Discussion

Results from the 2019 exploration program highlight a strong spatial relationship between northwest-striking structures, favourable host rocks and elongate magnetic highs flanking the contact metamorphic aureole of the Border pluton (Figures 1 and 2). The Radio prospect is open to the north toward the Infrared gold-in-soil anomaly, and the recently discovered UV prospect is coincident with a magnetic high that extends more than a kilometre south of the showing. Gamma, which lies further east along the range front, represents a different style of mineralization within siltstone cut by high-angle north to northwest-striking faults. Gamma remains open-ended to the north and south.

Figure 1. Geology of the Astro project showing the location of gold prospects along the eastern margin of the Border pluton.

Figure 2. Total magnetic intensity (TMI)-Reduced to the Pole (RTP) magnetics image with gold-in soil anomalies and prospect locations highlighting the coincidence of gold prospects and linear magnetic highs along a 9.5 kilometre long structural corridor. Circular magnetic low is the approximate outline of the Border pluton.

Radio Prospect

The Radio prospect is centered on a 25 by 35 metre exposure of partially oxidized magnetite-pyrite skarn hosted in carbonaceous siltstone with calcareous lenses. Three sets of horizontal chip-channel samples (sub-parallel to bedding) and a vertical trench (perpendicular to bedding) were completed to follow up the 2018 exploration program (Evrim January 28, 2019 news release), to extend the footprint and determine the primary control on mineralization (Figure 3). Chip-channel samples were also obtained from an area on the west side of a fault separating the two showings. Results from this sampling at Radio are in Table 1 below:

Table 1: Radio Prospect Chip-channel Sampling Results

The mineralized system at Radio is developed in several rock types along a series of northwest-striking structures offsetting the eastern margin of the Border pluton. Parallel, northwest-striking, high-angle fractures cut siltstone, magnetite-pyrite skarn and intrusive rocks and appear to control the location of higher grades evidenced in the rock-chip sample results (Figure 3).

Drill hole RAD19-01 is located above the showing and intercepted 1.36 g/t gold over 10.7 metres including 3.13 g/t gold over 3.0 metres from skarn similar to the Radio showing. Hole RAD19-02, a vertical RC hole positioned to test a lower horizon of anomalous soil and talus-fines samples, collared into granodiorite and was ended at a depth of 26 metres. Select sample results from RAD19-02 are anomalous in gold, and results for the entire hole are pending. Hole RAD19-04, collared 180 metres northeast of the Radio showing, encountered a similar section to RAD19-01 and returned 0.67 g/t gold over 7.6 metres from intrusive rock near the bottom of the hole. Holes RAD19-03 and RAD19-05 were collared 600 and 700 metres north, respectively, of the Radio showing to test a magnetic anomaly interpreted to be the favourable skarn horizon at depth. Both holes encountered heavy water flows and ended short of the intended target depth. Drill hole information and significant intersections are in Tables 3 and 4, respectively.

UV Prospect

The UV prospect is a 100 by 75 metre area of subcropping magnetite-pyrite skarn within a sequence of grey limestone located approximately one kilometre east-southeast of Radio (Figures 1 and 2). Chip-channel sampling returned 6.1 g/t gold over four metres from channels oriented perpendicular to bedding, and talus fine sampling downslope from UV record values up to 3.5 g/t gold. Hole ULV19-01 was positioned above the surface showing and intersected intercalated altered limestone, sandstone and skarn but returned no significant gold values. Mapping and rock and talus fine sampling outline several gold zones within the limestone and skarn at UV, suggesting primary control along northwest-striking faults. The UV prospect is outlined by a prominent linear magnetic anomaly (Figure 2) that extends 1.7 kilometres south from the UV showing to the contact of the Border pluton.

Figure 3. View to the west of the Radio prospect showing the location of reported 2019 chip-channel rock-chip sample results and drill pad RAD19-01.

Gamma Prospect

The Gamma prospect is located approximately 2.5 kilometres southeast of UV and is defined by a 1.2 kilometre long gold-in-soil anomaly overlying a prominent magnetic anomaly (Figure 2). Inclined drill hole GAM19-01 tested the soil anomaly and the magnetic anomaly in an area of mapped fault breccia and intersected 1.04 g/t gold over 6.0 metres including 2.65 g/t gold over 1.5 metres. Hole GAM19-02 tested the footwall of the gold-bearing structure in GAM19-01 and returned no significant results. Hole GAM19-03 tested an EM conductor approximately 900 metres south of GAM19-01 (see Table 4). The GAM19-01 intercept remains open along a range-bounding fault that juxtaposes hornfelsed sedimentary rocks and granodiorite against carbonaceous silty limestone.

Microwave Prospect

Horizontal chip-channel sampling (sub-parallel to bedding and normal to fractures) and drilling were completed to follow up the 2018 exploration program (see Evrim January 28, 2019 news release) and determine the primary control on mineralization. Results from this sampling at Microwave are in Table 2 below:

Table 2: Microwave Prospect Chip-channel Sampling Results

Drill holes MIC19-01 and -02 tested the stratigraphic section below the channel sampling. Results from both holes returned nominal values, suggesting the surface showing is localized along high-angle structures parallel to the azimuth of the RC holes. Talus fine sampling designed to test an area of anomalous stream-sediment samples identified two new showings 300 and 800 metres southwest of the Microwave prospect with gold values up to 1.95 g/t gold.

Table 3: Drill Hole Information Table

Table 4: Astro 2019 RC Scout Drilling Results

Qualified Person Statement

Evrim's disclosure of technical or scientific information in this press release has been reviewed and approved by Stewart Harris, P.Geo. Vice President, Technical Services for the Company, a Qualified Person defined by National Instrument 43-101.

Samples were delivered to ALS Global in Whitehorse, YT for sample preparation and to the ALS laboratory in North Vancouver for analysis. The ALS facilities have ISO/IE 17025:2005 certification. Rock and drill samples were assayed for gold by 30 gram fire assay and multi-element analysis by four-acid digest and ICP analysis. Screen metallics assays were performed on select high gold grade trench and rock samples. Field duplicate samples, blank samples and certified reference materials were inserted into the drill sample sequence, and blanks and certified reference materials were inserted into the chip-channel sample sequence. Over limit rock samples were re-assayed by fire assay with gravimetric finish.

Talus fine samples were sieved in the field, prepped as soil samples by ALS and analyzed for gold by fire-assay and a multi-element analysis by aqua regia digest and MS ICP analysis.

About Evrim Resources

Evrim Resources is a mineral exploration company whose goal is to participate in significant exploration discoveries supported by a sustainable business model. The Company is well financed, has a diverse range of quality projects and a database covering substantial areas of Mexico and portions of southwestern United States. The Company’s projects are advanced through option and joint venture agreements with industry partners to create shareholder value. Evrim’s business plan also includes royalty creation utilizing the Company’s exploration expertise and existing projects.

On Behalf of the Board
EVRIM RESOURCES CORP.

Paddy Nicol
President & CEO

To find out more about Evrim Resources Corp., please contact Paddy Nicol, President or Liliana Wong, Manager, Investor Relations at 604-425-3400.

Visit our website at www.evrimresources.com.

Forward Looking Information

This news release includes certain statements that may be deemed "forward looking statements". All statements in this news release, other than statements of historical facts, that address events or developments that Evrim Resources Corp. (the "Company“) expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.

Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation to update these forward looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

SOURCE: Evrim Resources Corp.