Endurance Gold Provides Update on 2022 Drill Program at the Reliance Gold Property

May 17, 2022

Endurance Gold Corporation

TSX.V: EDG | OTC: ENDGF | Berlin Open Market:3EG

pXRF Analysis identifies wide mineralized intervals in five RC drill holes at Eagle Zone

Endurance Gold Corporation is pleased to provide an update on the reverse circulation (“RC”) drill program at its Reliance Gold Property (the “Property”) in southern British Columbia. The Property is located 4 kilometres (“km”) east of the village of Gold Bridge with year-round road access, and 10 km north of the historic Bralorne-Pioneer Gold Mining Camp which has produced over 4 million ounces of gold.

  • Eighteen (18) RC drill holes completed of the planned 40 RC drill hole program. Ten (10) holes completed on the Eagle and Eagle South Targets and eight (8) holes completed along the Treasure structural trend.
  • Encouraging Portable X-Ray Fluorescence (“pXRF”) arsenic (“As”) intervals in 14 of 18 RC drill holes. 
  • Three (3) RC drill holes have elevated pXRF As intervals exceeding 24 metres (“m”) in drilled length in a total of five (5) RC drill holes that have elevated pXRF As exceeding 10 m in drilled length. 
  • RC22-062 intersected 2,039 ppm pXRF As over 38.1 m, confirming a potential encouraging width to the Eagle South Zone (“020 Target”). To assist in determining the true width of the 020 Target, hole RC22-062 was targeted at the same intersection but drilled at an oblique azimuth to hole DDH21-020, which previously returned 15.7 grams per tonne (“gpt”) gold over 24.8 m, (see News Release January 12, 2022). The difference in azimuth between DDH21-020 and RC22-062 is 30 degrees.
  • Two dominant mineralized structures are confirmed at the Eagle Zone in hole RC22-064. The upper intersection representing the steeping dipping 020 Target returned 1,372 ppm pXRF As over 24.4 m located about 15 m northwest of the pXRF As intersection in RC22-062. A deeper intersection representing the shallow dipping Eagle Zone returned 1,632 ppm pXRF As over 7.6 m. RC22-064 was drilled at a different azimuth from the same setup as RC22-062 and at a fifty degree difference of the azimuth for DDH21-020.
  • Additional holes continue to intersect the Eagle Zone extending the strike of the Eagle Zone to the southeast with additional intercepts such as 1,194 ppm pXRF As over 27.43 m in RC22-067 located about 100 m north of the gold intersection in DDH 21-020.

The pXRF technique does not report quantifiable gold but previous work by the Company has shown that arsenic mineralization has a strong positive correlation with gold mineralization.

Figure 1: 2022 Drill Plan – Eagle Area

Thus, the most encouraging results continue to expand the potential of the Eagle and Eagle South 020 targets with nine (9) of the ten (10) RC holes returning significant pXRF As intervals. Further RC drilling is in-progress at the Eagle and Eagle South Zones to determine the shallow dimensions of the Eagle Zone and Eagle South-020 Target. The location of the RC Drill holes at Eagle are located on Figure 1 and mineralized intervals identified with pXRF analysis are reported in Table 1.

Table 1: Reliance 2022 RC Drilling – pXRF Results Summary

RC Drilling in six (6) of the eight (8) holes along the Treasure trend has identified a 1.5 to 3.0 m wide NW-SE trending mineralized structure or structures, dipping about 60 degrees to the west, with associated elevated pXRF As and iron carbonate alteration. RC drilling and surface channel sampling have identified a mineralized structure along about 160 m of strike length at the Vista Zone that is open along strike and dip. This Treasure Trend sub parallels the Royal Shear trend about 300 m east of the Imperial and Eagle Area Zones. Significant pXRF As results for RC holes from the Treasure Trend are reported in Table 1.

To date, a total of 208 RC samples have been submitted to the ALS Global laboratory for gold assay and multi-element ICP analysis. Assay results will be reported when received.

The 2022 RC drilling program is budgeted to complete about 40 holes, with a planned drilling depth of 70 to 100 m at each hole, over a six-week period. The diamond drilling program, expected to commence in early June is budgeted for a minimum 8,000 m program.

Endurance Gold Corporation is a company focused on the acquisition, exploration and development of highly prospective North American mineral properties with the potential to develop world-class deposits.

RC samples were collected under the supervision of a geologist at the drilling rig. Drilling was completed using a 3.5 inch hammer bit and rock chip samples were collected using a cyclone. Sample size was reduced to 1/8th size with a riffle splitter at the drilling rig. A second duplicate split and coarse chips were collected for reference material and stored at the property. pXRF analysis was conducted by a Company geologist at the project site on all RC chip samples. An Olympus Vanta XRF Analyzer was used for the analysis which is capable of measuring elements from concentrations as low as single parts per million (ppm). RC samples with anomalous pXRF As results are submitted to ALS Global in North Vancouver, BC, an ISO/IEC 17025:2017 accredited laboratory, where they are crushed to 70% <2 mm then up to 250 gram pulverized to <75 microns. Samples are then submitted for four-acid digestion and analyzed for 48 element ICP-MS (ME-MS61) and gold 30g FA ICP-AES finish (AU-ICP21). Over limit samples returning greater than 10 ppm gold will be re-analyzed by Au-GRA21 methodology and over limit antimony returning greater than 10,000 ppm Sb will be re-analyzed by Sb-AA08 methodology.

The work program is supervised by Darren O’Brien, P.Geo., an independent consultant and qualified person as defined in National Instrument 43-101. Mr. O’Brien has reviewed and approved this news release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from the expected results.

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James Hyland, MiningIR