Snowy Owl Gold Provides Exploration Update on Golden Eagle Property

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    Snowy Owl Gold Corp. announces geoscientific and geophysical desktop studies on the Company’s 100% owned Golden Eagle Property have been completed. The Company plans to mobilize an exploration crew to the Property in early to mid-June. 

    Snowy Owl is a mineral exploration company focused on acquiring, exploring, and developing gold projects from its land areas representing approximately 8,887 underexplored hectares (88.87 km2) within the prolific Abitibi region of Quebec, Canada. As shown on Figure 1, The Company’s Golden Eagle Property is surrounded by the adjacent projects operated by Osisko Mining and Bonterra Resources, as well as other smaller operators and explores. A number of gold deposits, and occurrences exist between the Golden Eagle Property and the Company’s other 100% owned Panache Gold Property, approximately 30km to the north-west from the Golden Eagle Property.

    “Nothing is more exciting than getting boots on the ground. Snowy has the right ingredients for success; we’re in the shadow of the headframe, literally sandwiching half a dozen quality gold projects being operated by large companies such as Osisko. Further, the Company has a highly experienced technical and management team with a record of success and discovery in Quebec,” stated David Patterson, Chairman of Snowy Owl.

    The studies on the Golden Eagle consisted of two separate scopes of work:

    • An in-depth analysis of the geophysical data obtained by the Company from the 2020 heli-borne magnetic survey. This was completed by Joël Simard, a professional contract geophysicist (announced April 19, 2021 https://bit.ly/3p6tRba)
    • A geoscientific compilation of the geology, geophysics, geochemistry, historical exploration data, and field program planning completed by Geologica Groupe Counseil of Val d’Or, Quebec (“Geologica”).

    As shown on Figure 2 below, the northern portion of the property has been previously mapped by MERN (Ministère de l’Énergie et des Ressources naturelles) to contain favourable greenstone belt geology; however, as shown on the Figure 3 geophysical models, the in-depth geophysical analysis presents a new interpretation indicating the greenstone belt geology may be more extensive, possibly extending throughout the property displayed as a northeast-southwest linear geophysical anomaly. This may also explain the anomalous geochemical stream sediment sample identified in the southern portion of the property.

    Golden Eagle Property Geology
    New Greenstone Belt Interpretation

    Further, as shown on Figure 4 below, Mr. Simard interpreted the presence of several prospective structural targets such as intersecting faults which may represent conduits for the emplacement of mineralization.

    Geophysical Model Showing Exploration Targets

    “The 3D modelling and new greenstone belt interpretation completed by Mr. Simard is a possible game changer,” stated Raymond Wladichuk, CEO.

    As announced on February 4, 2021 (https://bit.ly/3bSl86Z), Snowy Owl has retained Geologica to complete the field exploration program and are expected to mobilize to site in early to mid-June.

    Raymond Wladichuk, P.Geo., CEO of Snowy Owl, and a “Qualified Person” for National Instrument 43-101 – Standards of Disclosure for Mineral Projects has reviewed and approved the scientific and technical information.

    About Snowy Owl Gold Corp.

    Snowy Owl Gold Corp., is a mineral exploration company focused on acquiring, exploring, and developing gold projects in Quebec, Canada. The Company has 100% interest in the Panache Property, which consists of 12 map designated claims (“CDC”) covering a total of 678 hectares, and the Golden Eagle Property, which consists of 161 map designated claims (“CDC”) covering a total of 8,887.65 hectares (88.87 km2) within the Abitibi region located in Quebec, Canada.

    Additional information on Snowy Owl Gold Corp. is available at http://www.snowyowlgold.com/

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