Eastside has significant expansion potential. The drilling at Eastside is designed to test additional targets, confirm and expand the resources at the Castle zone, and increase ounces at the Original zone, which currently hosts a current inferred mineral resource of 1,094,000 gold equivalent ounces utilizing a $1,550 (U.S.) per ounce gold price and a $19.67 (U.S.) per ounce silver price*. Eastside also hosts a near surface historical oxide gold resource totalling an additional 273,173 ounces (see press release of Jan. 27, 2020).

Peter Gianulis, chief executive officer of Allegiant Gold, commented: “This highly anticipated drilling program has the potential to position Eastside as a leading gold exploration and development project in Nevada. An updated 43-101 resource estimate will be carried out immediately following completion of drilling.”

Allegiant has contracted Boart Longyear to carry out the drill program. Drilling will commence first at the Boss pit within the Castle zone on the south end of the Eastside project. Boss produced approximately 30,000 ounces gold for a privately owned company from an open pit and heap leach in the 1980s. No historical records are available for the 1980s Boss mining and leaching.

The 273,173-ounce gold historical resource at Castle does not include any ounces from the mineralization at the Boss pit. During detailed geologic mapping, Allegiant recognized that gold mineralization possibly continues into the walls of the pit. Allegiant geologists sampled the pit walls in mid-2020, with a series of 10 feet (three-metre) continuous samples taken along the walls and cutting across the more obvious structures as near perpendicular as possible. The upcoming drill program is designed to extend this mineralization both laterally and below the existing pit.

Recent 2020 mapping and sampling by Allegiant geologists of the Boss pit walls indicates that more gold mineralization remains at Boss. Continuous chip sampling across several broad structures exposed in the pit walls produced a number of notable results, including:

• 110 feet (33.3 m) of width yielded 0.98 gram per tonne gold on a deeper bench in the south/southwest pit wall;
• 80 feet (24.2 m) width of 1.93 g/t gold from an upper bench on the south side of the pit;
• Two zones of 10 feet (three m) of 1.71 g/t gold and an additional 50 feet (15.1 m) of 1.65 g/t gold on the uppermost bench of the east/southeast side of the pit;
• 40 feet (12.1 m) of 0.52 g/t gold on the upper bench of the north/northwest side of the pit;
• 50 feet (15.1 m) of 0.76 g/t on the bench just below the above on the north/northwest side of the pit.

In addition, Allegiant mapping and surface sampling (0.1 to 3.9 g/t gold) has indicated a northerly trending structural zone running along the eastern pit margin and extending at least 300 m north of the pit to the edge of alluvial cover, and possibly 200 m or more south of the pit, also under alluvial cover. This zone will be tested by a series of angled drill holes.

Allegiant plans to complete a minimum of 30 drill holes in the upcoming drilling program near the Boss pit, totalling 5,450 m. Additional drilling may be added with favourable results. Allegiant’s goal is to produce a 43-101 considering the whole Castle area, including Boss, in late 2020.

On completion of drilling at Boss, drilling will continue at the Original zone and several new targets will be tested.

Historical estimate: Castle claim block

The Castle claims cover an area of 9.6 square kilometres and are located 13 km south of the Original zone but still within the Eastside property. The Castle claims are covered by shallow alluvium of 10 m to 30 m with potential for increased resources and contain a near surface historical** oxidized resource estimate of 273,173 gold ounces as outlined in the included table.

* The updated resource estimate (“Updated Resource Estimate and NI 43-101 Technical Report, Eastside and Castle Gold-Silver Project Technical Report, Esmeralda County, Nevada”) was conducted by Mine Development Associates (MDA) of Reno, Nev., with an effective date of Dec. 30, 2019. Contained pit-constrained inferred resources of 1,094,000 AuEq ounces at 57.05 million tonnes at 0.6 g/t AuEq (gold equivalent ounces were calculated by Allegiant using a silver/gold ratio of 80:1). In accordance with NI 43-101 the MDA technical report dated Jan. 24, 2020, will be filed on SEDAR. This report builds on and supersedes the NI 43-101 reports of Ristorcelli (December, 2016) and Ristorcelli (July, 2017) titled “Resource Estimate and Technical Report, Eastside Gold-Silver Project, Esmeralda County, Nevada,” prepared for Allegiant with an effective date of July 25, 2017. A copy of the Eastside technical report can be found on SEDAR.

** The historical resource estimate for the Castle claims was completed by James D. Greybeck, senior geologist for Cordex Exploration Co. in April, 1999, under the direction of Andy B. Wallace, then manager of Cordex Exploration Co. and vice-president of Rayrock Mines Inc. This report and data used in its preparation has been recently reviewed by Mr. Wallace for the purpose of this press release under his obligations as a qualified person for Allegiant. Drill data used for Greybeck’s report was from Cordex Exploration Co., Kennecott Exploration, Houston Oil and Minerals, Falcon Exploration, and Mintek Resources, which data are on file in the offices of Cordex Exploration. The data are judged relevant and reliable by Mr. Wallace. The resource was termed a geologic resource at the time of Greybeck’s report, which was in line with current practice for the time. Greybeck prepared geological cross sections and calculated the resource by hand, using a polygonal method with a lower cut-off of .005 ounce per ton Au (0.17 g/t Au). Where drilling was closely spaced gold values were interpolated between cross sections using weighted averages projected 50 feet on either side of the cross section. Allegiant plans additional drilling to confirm Greybeck’s interpretations and to fill in gaps in the drilling. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. Allegiant is not treating the historical estimate as current mineral resources or mineral reserves.

About Allegiant Gold Ltd.

Allegiant owns 100 per cent of 10 highly prospective gold projects in the U.S., six of which are located in the mining-friendly jurisdiction of Nevada. Four of Allegiant’s projects are farmed out, providing for cost reductions and cash flow. Allegiant’s flagship, district-scale Eastside project hosts a large and expanding gold resource, and is located in an area of excellent infrastructure. Preliminary metallurgical testing indicates that both oxide and sulphide gold mineralization at Eastside is amenable to heap leaching.

Qualified person

Mr. Wallace is a certified professional geologist (CPG) with the American Institute of Professional Geologists and is the qualified person under NI 43-101 — Standards of Disclosure for Mineral Projects, who has reviewed and approved the scientific and technical content of this press release.

We seek Safe Harbor.

© 2020 Canjex Publishing Ltd. All rights reserved.

The number of directors of the company was set at five, and Eduardo Covarrubias, Fernando Porcile, Francis O’Kelly, Francisco Covarrubias and Paul Miquel were elected to serve on the board of directors of the company.

About Los Andes Copper Ltd.

Los Andes is an exploration and development company with a 100-per-cent interest in the Vizcachitas project in Chile. The company is focused on progressing the project, which is located along Chile’s most prolific copper belt, into production.

Election of directors

The individuals listed in the attached table were elected as directors of the company to hold office until the next annual meeting of shareholders.

Name of nominee    Votes cast for    Percentage    Votes withheld    Percentage

Michael Byron          11,141,697        98.18%           207,131         1.83%  
Ernie Eves             11,302,958        99.60%            45,870         0.40%   
Brian Howlett          11,131,967        98.09%           216,861         1.91%  
Luc Lessard            11,156,828        98.31%           192,000         1.69%  
Daniel Noone           11,151,328        98.26%           197,500         1.74%  
Morris Prychidny       11,165,758        98.39%           183,070         1.61%  

Reappointment of auditor

The auditor for the company, MNP LLP, was reappointed for the ensuing year.

For detailed voting results on each resolution, please refer to the company’s report of voting results filed under the company’s profile on SEDAR.

Mr. Robinson joins Ynvisible with over 10 years of fast-moving consumer goods (FMCG), luxury and innovation experience. He brings operational skills at integrating business, design and technology to bring new products to the market. Mr. Robinson joins the company from L’Oreal USA. As operations business development and open innovation lead for L’Oreal USA, his role centred on breakthrough and transformational technology scouting and strategy, business development, and blending business, design, and technology to accelerate and launch new packaging, products and experiences. Mr. Robinson has been an independent director of the company since November, 2019.

“Michael brings Ynvisible a wealth of experience from the branded products world and introducing product innovations to the market. Despite COVID-19, Ynvisible’s income from client projects and services has grown throughout the year. We now take systematic steps to build off lessons learned, strengthen our products and technology platform offering, and accelerate time to revenue. Michael brings valuable operational leadership to this transition,” said Jani-Mikael Kuusisto, chief executive officer of Ynvisible. “Our entire team is grateful for the systematic work and devotion Ines has brought to Ynvisible since its founding. We look forward to working together with her in her new role.”

Mr. Robinson is moving into a role previously held by Ynvisible’s co-founder, Dr. Henriques, who served as CEO from Ynvisible’s creation to closing the reverse takeover transaction with Ynvisible in January, 2018. Since then, she has held the position of COO. Her leadership and achievements include helping to found Ynvisible, organizing and integrating the company’s research, development, design and manufacturing operations, developing the company’s core IP portfolio, and building Ynvisible’s first partner networks.

“I strongly believe that Ynvisible is poised for great success as it enters an exciting growth phase, with Michael at the helm of operations and innovation,” said Dr. Henriques. “He has a proven track record of developing, building and bringing new products to market. Michael brings knowledge, experience, skills and tools to transform Ynvisible into a fully integrated, more mature and efficient organization positioned for growth,” continued Dr. Henriques. “I also believe Michael has the right human values that are crucial for running an organization that relies, above all, on its human capital as its main asset. Bringing out the best from the amazing team we have at Ynvisible will be a critical ingredient for achieving success. I am excited to continue working closely with Michael and the leadership team to support Ynvisible’s success.”

“I am honoured to follow in Ines’s footsteps and build on the foundation created by her and the world-class Ynvisible Interactive team. We have the opportunity to build on successes, integrate new ways of working and accelerate speed to market for our customers. We will create business growth for Ynvisible Interactive, and most importantly, for our customers,” continued Mr. Robinson.

Grant of stock options

Ynvisible has granted in total 300,000 new stock options to officers of the company. The options will vest pursuant to the stock option agreements between Ynvisible and each optionee. They may be exercised at 24 cents per common share for a period of five years from the date of issuance or earlier in accordance with Ynvisible’s stock option plan.

• On 10 September 2020, Robert Milroy (Non-Executive Director) via Milroy Capital Ltd. acquired 11,564 Ordinary Shares (“Ordinary Shares”) at an average price of 68.6 pence per share;
• On 9 September 2020, Robert Milroy (Non-Executive Director), purchased a total of 1,000 Ordinary Shares at an average price of 65 pence per share via Milroy Capital Ltd.

Following the transactions as described above, Milroy Capital Ltd.’s total shareholding in the Company has increased to 400,000 Ordinary Shares, representing approximately 0.57% of the Company’s issued share capital.

The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No. 596/2014.

Clarification of deficiencies in news release

The second paragraph did not provide the following disclosure in compliance with National Instrument 43-101 2.4 — Disclosure of Historical Estimates, and Companion Policy 43-101CP 2.4(1) — Disclosure of Historical Estimates, which requires specific disclosure including required of the cautionary language for historical estimates each time the disclosure of the historical estimate is made. In addition, an incorrect cross-reference (that is, *) was provided. Please refer herein for the correct disclosure.

Eastside has significant expansion potential. The drilling at Eastside is designed to test additional targets, confirm and expand the resources at the Castle zone, and increase ounces at the Original zone, which currently hosts a current inferred mineral resource of 1,094,000 gold equivalent ounces utilizing a $1,550 (U.S.) per ounce gold price and a $19.67 (U.S.) per ounce silver price (see press release of Jan. 27, 2020).

The historical resource estimate for the Castle claims was completed by James D. Greybeck, senior geologist for Cordex Exploration Co., in April, 1999, under the direction of Andy B. Wallace, then manager of Cordex Exploration and vice-president of Rayrock Mines Inc. These report and data used in its preparation has been recently reviewed by Mr. Wallace for the purpose of this press release under his obligations as a qualified person for Allegiant. Drill data used for Greybeck’s report was from Cordex Exploration, Kennecott Exploration, Houston Oil and Minerals, Falcon Exploration, and Mintek Resources, which data are on file in the offices of Cordex Exploration. The data are judged relevant and reliable by Mr. Wallace. The resource was termed a geologic resource at the time of Greybeck’s report, which was in line with current practice for the time. Greybeck prepared geological cross sections and calculated the resource by hand, using a polygonal method with a lower cut-off of 0.005 ounce per ton Au (0.17 g/t Au). Where drilling was closely spaced, gold values were interpolated between cross sections using weighted averages projected 50 feet on either side of the cross section. Allegiant plans additional drilling to confirm Greybeck’s interpretations and to fill in gaps in the drilling. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. Allegiant is not treating the historical estimate as current mineral resources or mineral reserves.

The table disclosing historical estimate incorrectly disclosed “Ounces Au” as “Ounces Ag.” In addition, the disclosure required by NI 43-101 2.4 — Disclosure of Historical Estimates was not included.

Historical estimate**

Castle claim block

The Castle claims cover an area of 9.6 square km and are located 13 km south of the Original zone but still within the Eastside property. The Castle claims are covered by shallow alluvium of 10 to 30 m with potential for increased resources and contain a near-surface historical** oxidized resource estimate of 273,173 gold ounces.

The historical resource estimate for the Castle claims was completed by Mr. Greybeck, senior geologist for Cordex Exploration, in April, 1999, under the direction of Mr. Wallace, then manager of Cordex Exploration and vice-president of Rayrock Mines. These report and data used in its preparation has been recently reviewed by Mr. Wallace for the purpose of this press release under his obligations as a qualified person for Allegiant. Drill data used for Greybeck’s report was from Cordex Exploration, Kennecott Exploration, Houston Oil and Minerals, Falcon Exploration, and Mintek Resources, which data are on file in the offices of Cordex Exploration. The data are judged relevant and reliable by Mr. Wallace. The resource was termed a geologic resource at the time of Greybeck’s report, which was in line with current practice for the time. Greybeck prepared geological cross sections and calculated the resource by hand, using a polygonal method with a lower cut-off of 0.005 ounce per ton Au (0.17 g/t Au). Where drilling was closely spaced, gold values were interpolated between cross sections using weighted averages projected 50 feet on either side of the cross section. Allegiant plans additional drilling to confirm Greybeck’s interpretations and to fill in gaps in the drilling. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. Allegiant is not treating the historical estimate as current mineral resources or mineral reserves.

Disclosure of the current AuEq mineral resource did not disclose the grade of each metal used to establish the metal or mineral equivalent grade as required by NI 43-101, 2.3(1)(d) Restricted Disclosure.

The updated resource estimate (“Updated Resource Estimate and NI 43-101 Technical Report, Eastside and Castle Gold-Silver Project Technical Report, Esmeralda County, Nevada”) was conducted by Mine Development Associates (MDA) of Reno, Nev., with an effective date of Dec. 30, 2019. Contained pit-constrained inferred resources of 1,094,000 AuEq ounces at 57.05 million tonnes at 0.6 g/t AuEq (gold equivalent ounces were calculated by Allegiant using a silver/gold ratio of 80:1). Utilizing a 0.15 g/t cut-off for Au, measured gold was 0.54 g/t and silver was 4.3 g/t. In accordance with NI 43-101, the MDA technical report dated Jan. 24, 2020, will be filed on SEDAR. This report builds on and supersedes the NI 43-101 reports of Ristorcelli (December, 2016) and Ristorcelli (July, 2017) titled “Resource Estimate and Technical Report, Eastside Gold-Silver Project, Esmeralda County, Nevada,” prepared for Allegiant with an effective date of July 25, 2017. A copy of the Eastside technical report can be found on SEDAR.

As required by NI 43-101 3.3(2) — Requirements Applicable to Written Disclosure of Exploration Information, the following disclosure of exploration results did not provide the company’s quality assurance/quality control procedures or protocol, or name the lab that completed the assays/analysis of the samples. The information has been corrected herein.

Recent 2020 mapping and sampling by Allegiant geologists of the Boss pit walls indicates that more gold mineralization remains at Boss. The Boss pit samples were analyzed at American Assay Laboratories in Reno, Nev. The pit samples were taken by Jon Vinson and Peter Chapman using professional sampling techniques. The samples were in the custody of Mr. Vinson and Mr. Chapman until delivered at American Assay. Samples were analyzed for 30 elements, including gold by fire assay with an atomic absorption finish. Only gold values were considered to be material. Silver assays were too low to be material. Continuous chip sampling across several broad structures exposed in the pit walls produced a number of notable results, including:

• 110 feet (33.3 m) of width yielded 0.98 g/t gold on a deeper bench in the south/southwest pit wall;
• 80 feet (24.2 m) width of 1.93 g/t gold from an upper bench on the south side of the pit;
• Two zones of 10 feet (three m) of 1.71 g/t gold and an additional 50 feet (15.1 m) of 1.65 g/t gold on the uppermost bench of the east/southeast side of the pit;
• 40 feet (12.1 m) of 0.52 g/t gold on the upper bench of the north/northwest side of the pit;
• 50 feet (15.1 m) of 0.76 g/t on the bench just below the above on the north/northwest side of the pit.

In addition, Allegiant mapping and surface sampling (0.1 to 3.9 g/t gold) has indicated a northerly trending structural zone running along the eastern pit margin and extending at least 300 m north of the pit to the edge of alluvial cover, and possibly 200 m or more south of the pit, also under alluvial cover. This zone will be tested by a series of angled drill holes.

Allegiant plans to complete a minimum of 30 drill holes in the upcoming drilling program near the Boss pit, totalling 5,450 m. Additional drilling may be added with favourable results. Allegiant’s goal is to produce a 43-101 considering the whole Castle area, including Boss, in late 2020.

Mark Selby, chair and chief executive officer of Canada Nickel, commented: “With the completion of this financing, which was upsized from $1.5 million due to strong market demand, in conjunction with the early warrant exercises by September 14 th, Canada Nickel is well positioned to continue our regional exploration program currently underway and complete the PEA on the Crawford Nickel-Cobalt sulphide project by year end. We appreciate the support from our existing investors and welcome a number of new investors to Canada Nickel.”

The gross proceeds from the sale of the FT Shares will be used to incur “Canadian exploration expenses” that qualify as “flow-through mining expenditures” (as both terms are defined in the Tax Act) related to the Company’s projects in Ontario. Mark Selby an officer and a director of the Company, subscribed for an aggregate of 10,000 shares under the Offering on the same terms as arm’s length investors. The participation of Mark Selby in the Offering constitutes a “related party transaction” for the purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the Offering in reliance on sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the securities issued to Mr. Selby nor the fair market value of the consideration for the securities issued to Mr. Selby exceeds 25% of the Company’s market capitalization as calculated in accordance with MI 61-101. The Company did not file a material change report containing all of the disclosure required by MI 61-101 more than 21 days before the expected closing date of the Offering as the aforementioned insider participation had not been confirmed at that time and the Company wished to close the Offering as expeditiously as possible.

All securities issued under the Offering will be subject to a hold period of four months which will expire January 11, 2021. The Offering is subject to final acceptance of the TSX Venture Exchange.

The IP survey is being undertaken by DIAS Geophysical of Saskatoon, SK (“DIAS”) and utilizes that company’s DIAS32 direct current resistivity and induced polarization (“DCIP”) system using a rolling layout of transmitters and receivers that will advance the survey in successive 3D ‘patches’ from south toward the north. The survey comprises a dipole {Ӻ –} pole {Ԋ –} dipole arrangement using the common voltage reference method, and targets the layout of some 26 Rx (receiver) lines spaced at 200m. It is anticipated that the receiver layouts in the area of the Huites reservoir will be somewhat irregular.

“The DCIP survey represents an important step in the Company’s previously announced program of environmental studies, phased surface exploration, deep 3D geophysical surveys, and diamond drilling that aims to verify and build upon an updated geological model and a substantial body of historical drilling, mineral resource estimates, and Pre-Feasibility studies,” said Craig Dalziel, Oroco’s CEO. “In addition, we continue to be impressed with the quality and depth of the local support that we are experiencing at Santo Tomas, a local contribution which we recognize to be an essential factor in the Project’s progress.”

The survey is staffed by some 20 field assistants drawn from the local community, with survey control by full time employees of Oroco’s Choix-based contractor / partner Minera Tempisque S.A. de C.V., and field supervision provided by Oroco and Mexico-based contractor, ProDeMin. The DIAS contingent comprises of Mexico-based personnel and one expatriot. The camp and field crews are divided into small cohorts operating under a COVID protocol developed by the Company in compliance with the requirements of the Mexican authorities and with 2020 COVID protocol and survey experience gained by DIAS in Canada. The focus on local hiring delivers on our social commitment to the communities proximal to the Santo Tomas operations.

The Santo Tomas Cu-Mo-Au-Ag porphyry deposit comprises a 5 km strike length of Laramide-age intrusion and hydrothermal mineralization hosted in volcanic units embedded in a broad NNE-trending wrench fault and fracture system. The Brasiles Zone, a primary exploration target, is characterized by extensive surface gossan development and localized copper mineralized surface showings developed to the NNE of the North and South Zones which are defined historically by exploration drilling. The DCIP survey is intended to improve the definition to depth of the known mineralization within the North and South Zones, and to better understand the potential of the Brasiles Zone.

The Company is also pleased to announce that it has granted to directors, officers and consultants a total of 2,400,000 incentive stock options at a price of $0.75 per share, exercisable for three years. The option grants are subject to TSX Venture Exchange approval.

Number of shares:  66,666,666 shares

Purchase price:  27 cents per share

Warrants:  33,333,333 share purchase warrants to purchase 33,333,333 shares

Warrant exercise price:  40 cents for a two-year period (The warrants are subject to an accelerated exercise provision in the event the closing price of the company’s shares is equal to or exceeds 70 cents for 20 consecutive trading days.)

Number of placees:  65 placees

Insiders:  RF Securities Clearing LP in trust for 21764233 Ontario Ltd. (Eric Sprott), 36,481,500; BMO Nesbitt Burns in trust for Sam Leung, 100,000; Olga Miniotis (John Miniotis), 99,966

Total pro group involvement:  670,900 (seven placees)

Finders’ fees:  Clarus Securities Inc., $952,013.79 and $52,361.64 for advisory services, plus 3,451,902 broker warrants and 193,932 broker warrants in respect to advisory services (The broker warrants are exercisable into common shares at 27 cents per share for a 24-month period.); Haywood Securities Inc., $6,750.54; Canaccord Genuity Corp., $18,591.12

Drilling along an extension of the trend of the E&L intrusion, which is now recognized to be a bladed-dyke, has identified mineralized mafic and ultramafic rocks carrying an E&L geochemical signal. The open system intrusion is open to the west and east. Diamond drilling continues to aggressively build out on the persistent widespread nickel-copper mineralization, which includes massive sulphides featuring top-tier nickel-copper grades in addition to palladium, platinum, cobalt, gold, silver and strategic PGE rare metals including rhodium.

E&L Highlights;

EL-20-88, collared 350 meters east of pivotal hole EL-19-80 (identified as E&L gabbro) intersected 142.79 meters of mineralized taxitic gabbro and olivine pyroxenite along trend of the E&L system. This large step-out exhibited an E&L geochemical signature which expanded the strike length of the E&L gabbroic intrusion to over 650 meters within a 2km structural corridor that remains untested and open.

El-20-89 has produced the widest mineralized intercept so far from 71.34 meters to 223 meters returning nickel-copper mineralization over 151.6 meters grading 0.56% nickel and 0.61% copper. This intersect included 80.53 meters of 0.88% nickel and 0.85% copper, which expanded the NE massive sulphide zone 6 meters South, the LDZ 15 meters North and the Second Chamber 45 meters West. Semi-massive veins along the contact edge with sediments assayed 0.33m (100.54-100.87m) of 6.87% nickel and 1.69% copper, and 0.15m (147.48-147.63m) of 3.04% nickel and 1.62% copper.

Precision BHEM surveys completed on holes EL-19-80 and EL-20-88 detected several high priority conductors off-hole on both the north and south sides of the new extension of the E&L intrusion, along the trend of the mineralized gabbro system. Hole 80 had intersected E&L gabbro approximately 450 meters southeast of the main chamber, whereas hole 88 extended the plunge length of the E&L intrusion to over 650 meters depth which remains open.

Jeremy Hanson, Garibaldi VP-Exploration, stated “Holes EL-19-80 and EL-20-88 were instrumental to understanding the directional trend of the E&L system. The drill results and BHEM data confirm that E&L is far more extensive at depth than indicated by shallow drilling and surface outcrop. Garibaldi has now identified E&L mineralized gabbro for over 650 meters of strike length and to 578 meters at depth, less than one-third of the way down-slope to the base of Nickel Mountain. Both of these large step-out holes identified mineralized E&L type gabbro with elevated metal tenors. Bore-hole EM responses from both holes detected multiple off-hole conductors, providing a vector towards high priority drill targets.”

Importantly, mineralized orbicular-textured E&L type gabbro has recently been found at surface in float 950 meters west of the outcropping E&L gabbro at Nickel Mountain. Furthermore, melogabbroic intrusions have now been identified 1.3 km east of E&L. Increasingly, the exploration potential to discover new mineralized intrusions at E&L continues to grow both along strike and vertically with deeper drilling. Mineralized outcrop approximately 12 km northeast of Nickel Mountain have been recently discovered which returned 2.4% Ni and 3.2% Cu utilizing a portable XRF, assays are pending.

The 2020 drill program has succeeded in identifying a mineralized extension of the E&L intrusion, which has the shape of a structurally modified bladed dyke, along a predicted plunging trend towards the east. Wider segments of the dyke contain disseminated sulphide mineralization and the flanking contacts are associated with contact and footwall type massive sulphide mineralization rich in Ni, Cu, Co, Pt, Pd and Au. The E&L intrusion contains taxitic and orbicular-textured melagabbros, and where the dyke is wider and in contact with Hazelton sedimentary rocks; massive sulphides are developed along the flanks of the intrusion in the sedimentary rocks.

Dr. Peter Lightfoot, Garibaldi Technical Advisor, commented: “A number of global magmatic sulphide ore deposits are associated with dykes or pipe-like intrusions controlled by structures. These dykes were originally open system magma conduits, termed chonoliths, with narrow dyke-like blades flanking the pipe-like intrusion. The pipe is often the nexus of heavier mineralization.

The recognition of this morphology at E&L thanks to detailed drilling and structural studies in 2019 provided the basis for drilling to follow the steeply plunging mineralized open system conduit towards the east. Renewed prospecting along strike also provided new evidence of mineralized taxitic olivine gabbro at surface. The discovery of mineralized orbicular gabbro and olivine pyroxenite in hole EL-19-80 to the east, and finding mineralized taxitic-textured olivine gabbro and orbicular-textured surface float samples west of E&L provides important new evidence that the scale of the mineral system may extend considerably along strike beneath the overlying talus fields and vertically towards the base of Nickel Mountain.”

With new geochemical and geophysical targets located at depth, the immediate goal of the drill program is to follow the steeply plunging E&L gabbro to the east. The conductors detected off-hole will be drill tested for mineralization. It should be noted that the potential importance to exploit deeper targets for mineralization within these expanding zones can’t be overstated and remains the highest priority.

El-20-85 & 86 tested a northeast trending structure along the projected contact with a sedimentary unit, hole 85 intercepted 34.5 meters (130 -164.5m) of 0.13% Ni and 0.01% Cu while hole 86 intercepted 20 meters (135-155m) of 0.13% Ni and 0.05% Cu. EL-20-87 was drilled north of the E&L system to provide a BHEM platform. All three holes were drilled from the same platform providing essential structural data and sections of low grade mineralization, with no significant intercepts.

Drill Hole Assay Table {▊ –} Holes EL-20-85 to EL-20-89
  
  
   Hole (#)     Interval Width (from {◽ –} to)    Ni (%)Cu (%)Co (%)Pt (g/t)Pd (g/t)Au (g/t)Ag (g/t)
 EL-20-89    over 151.66 m (71.34 {♤ –} 223 m)   0.56  0.61 0.018  0.253   0.497   0.256    2.78  
*including over 80.53 m (71.34 {⛉ –} 151.87 m)   0.88  0.85 0.026  0.286   0.523   0.300    3.80  
*including  over 34.26 m (71.34 {✲ –} 105.6 m)   1.15  1.15 0.035  0.333   0.522   0.407    5.65  
**including  over 1.16 m (84.8 {➙ –} 85.96 m)    4.55  2.27 0.184  0.231   0.388   0.289    7.61  
*including  over 24.85 m (123.07{⠂ –} 147.92 m)  1.20  1.08 0.031  0.446   0.896   0.388    3.83  
*including  over 21.75 m (180.75 {⡫ –} 202.5 m)  0.49  0.94 0.016  0.657   1.328   0.636    4.11  
                                                                                              
 EL-20-88  over 142.79 m (436.25 - 579.04 m) 0.15  0.12 0.013  0.017   0.032   0.011    1.01  
    and      over 53.42 m (481.58 {⦒ –} 535 m)   0.24  0.22 0.020  0.028   0.051   0.019    1.39  
                                                                                              

**Massive sulphides (75-100%); *Semi-massive sulphides (50% – 75%). Intervals are core lengths (true widths are estimated to be 80% of reported intervals).

CASPER QUARTZ GOLD VEIN

Flexible work plan schedules adapted for weather, have also resulted in accelerated developments at the nearby lower elevation Casper gold vein discovery. Two new quartz veins have been identified in proximity to the high-grade Casper vein, including one with multiple samples of visible gold. Assays are pending, and Garibaldi looks forward to providing an update on these results.

At the Meeting, a majority of the Corporation’s shareholders voted in favour of all the resolutions set out in the management proxy circular for the meeting.

The details of the results from the vote are shown below:

Votes For       Against    Withheld Votes 
Motions                  Number     %     Number%    Number   %     
Jean-Sebastien Lavallee  32,541,742 89.02% 0     0.00% 4,015,545 10.98%
Jean-Raymond Lavallee    34,791,632 95.17% 0     0.00% 1,765,655 4.83% 
Eric Zaunscherb          35,556,717 97.29% 0     0.00% 990,570   2.71% 
Charles B. Main          34,794,632 95.18% 0     0.00% 1,762,655 4.82% 
Marc Simpson             34,814,632 95.23% 0     0.00% 1,742,655 4.77% 
Matthew Lauriston Starnes34,794,632 95.18% 0     0.00% 1,762,655 4.82% 
Steffen Haber            33,899,937 92.73% 0     0.00% 2,657,350 7.27% 
Marcus Brune             33,871,937 92.65% 0     0.00% 2,685,350 7.35% 
Appointment of Auditors  39,051,486 99.36% 0     0.00% 252,022   0.64% 

The Board of Directors of the Corporation is pleased to announce the nomination of Mr. Eric Zaunscherb as Chairman of the Board. Mr. Zaunscherb is a Canadian geologist with over 32 years, and 6 cycles, of experience as a mining analyst. He most recently served as Managing Director, Research – Metals & Mining Analyst at Canaccord Genuity where he co-ordinated the firm's global mining equity research team. He has enjoyed working in Toronto, Vancouver, and London, experiencing best practices in Capital Markets at several leading firms and conducting hundreds of exploration, development and mining project site visits globally. He embraces new technologies and industry initiatives in diversity and socially responsible investing, ensuring that local communities receive lasting benefits from mineral resource development.

Genesis Aviation Inc. was chosen to complete the high-resolution gradient magnetometer survey in conjunction with a three-dimensional lidar survey over the property. This type of magnetic survey is flown by a low-altitude helicopter and offers measured horizontal and vertical gradient data. This makes a significant difference to the magnetic inversion that provides a model at depth. The survey, which was conducted over the whole property, will allow the past, present and future geological and geophysical programs to be correlated with a much higher degree of accuracy than otherwise possible. The geophysical instruments used were GEM Systems GSMP-35A potassium vapour magnetometers mounted in a Tri-Axal array.

Darren Blaney, chief executive officer and president, stated: “We look forward to seeing the results of the recently completed magnetic and lidar surveys as that new data, combined with our fall 2019 IP data, will greatly expand our understanding of the underground geology and enhance drill placement and targeting. We will also now be able to develop strong correlations between known mineralized zones and future untested targets thus potentially improving our hit ratio as we target these high-grade vein systems with the drill.

“We have always thought that the numerous high-grade gold and silver showings associated with the Portland Canal fissure zone, that extends through the property for several kilometres down the valley, are related in some meaningful way and are likely part of the same geological event. We will soon be in position to begin proving this with the commencement of the Dunwell phase II drill program planned for this fall.”

The Dunwell mine is a high-grade past-producing polymetallic mine located just eight kilometres by road from the shipping town of Stewart, B.C. The mine itself is one of dozens of high-grade gold/silver/lead/zinc occurrences that are primarily associated with the Portland Canal fissure zone that extends for several kilometres through the property. The Dunwell mine project boasts exceptional logistics and a rich mining history with potential for future development. It is located within the Bear River Valley which was one of the first areas prospected in the Stewart camp because of its combination of rich veins and easy access due to the low elevation and close proximity to town.

Because of the property’s low elevation and heavy rainfall, it is completely covered with a heavy canopy of vegetation with exposed bedrock limited to gullies and stream beds. Notwithstanding this limited surface outcrop, there are over two dozen known high-grade showings on the property. As no modern exploration techniques or technologies had been employed on the Dunwell property prior to American Creek’s acquisition, careful consideration was given as to the best options and techniques that could lead to discovery. This analysis resulted in a decision to proceed with an extensive induced polarization (IP) survey in the fall of 2019 and, to further define targets, this just completed detailed magnetic survey in 2020.

Alpha IP was chosen over a conventional IP survey because of its cutting-edge technology in detecting detailed high chargeability/low resistance anomalies in the ground. Specifically, the Alpha IP survey has far greater resolution and depth than standard IP’s and can provide the data in a 3-D view. These are critical factors as the Dunwell mine property contains numerous high-grade veins that are potentially more readily detected using a high-resolution survey.

Simcoe Geoscience, which performed the survey, was chosen because of their exceptional experience in this field and the in-depth interpretation they provide. Once the data provided by Genesis are processed, Simcoe will also be using their expertise to integrate the new 3-D magnetic survey results with the existing IP results, the 2019 maiden drill program results, and all historic data in order to fine-tune drill targets. Simcoe’s same Alpha IP system continues to achieve success locating high-grade veins at Ascot’s neighbouring Silbak-Premier mine (nine kilometres away).

The exploration objectives of the Alpha IP survey were to detect the source of potential high-grade gold, silver, lead, zinc and copper in quartz and detect quartz breccia vein systems hosted within thin bedded argillite, siltstone and greywacke of the Middle Jurassic Salmon River formation (Hazelton group). The Alpha IP system was used to provide the following benefits:

• Detect and delineate zones and structures related to the emplacement of sulphide mineralization to depths of up to 400 metres with chargeability and resistivity;
• Mapping the resistivity and chargeability features related to mineralization, alteration, faults and lithologies.

Results from the fall 2019 survey resulted in 37 anomalous zones being identified and interpreted as significant targets for follow-up from surface to about over 300 m depth. Out of 37 anomalous zones, 15 are considered first priority, 16 second and six are third-priority targets. The anomalous zones consist of strong to moderate chargeability related to associated conductive to resistive zones. These targets have a strong correlation with the Portland Canal fissure zone with the strongest targets running along the Dunwell Creek/Portland Canal faults, the secondary targets running down each side of the primary target, and the tertiary targets running along the western edge of the fissure zone.

Property description and history

The Dunwell property is located just seven km east of the Silbak Premier mine (Ascot Resources), 11 km west of the Red Mountain deposit (Ascot — formally IDM) and only nine km north of the past-producing Porter Idaho silver mine (Strikepoint Gold). Through a series of strategic acquisitions American Creek was able to purchase the past-producing Dunwell mine as well as several adjoining very prospective properties, combining them into one large land package that encompasses the most promising gold and silver mineral occurrences and historic workings within the Bear River Valley. The amalgamated property spans 2,222 hectares covering the majority of the Portland Canal fissure zone, an area first prospected in the late 1800s and hosting some of the earliest producing gold and silver mines in the Stewart area.

The Portland Canal fissure zone is the most significant geological feature in the Bear River Valley. This zone of faulting and shearing trends north, dips steeply west and hosts a vein system that extends southward for 6.5 kilometres from the Victoria/Dandy occurrence (on Dunwell) in the north, through the Dunwell mine itself, across Glacier Creek to the Ben Bolt occurrence (on Dunwell) in the south. With the recent acquisition of the Glacier Creek Crown grants (south of Glacier Creek), American Creek now controls five km of the 6.5 km fissure zone which contains numerous high-grade polymetallic mineral occurrences including two past-producing mines (Dunwell and Portland Canal).

The Dunwell project is located eight km northeast of Stewart and is road accessible with the Dunwell mine adit itself located only two km from Highway 37A and a major power line (both running through the property). Stewart hosts two deep-sea ports including ore loading and shipping facilities. Unlike the majority of mineral properties located in the Golden Triangle near Stewart, the Dunwell mine is located in low mountainous terrain (800 m and lower elevation) with relatively moderate relief. These features allow for potential year-round work which typically is not the case for exploration programs conducted in the Stewart region where projects are typically at higher altitude, are accessible only by helicopter, and lack critical infrastructure such as roads and power. The Dunwell mine project may very well have the best logistics of any project within the Golden Triangle.

According to historic records, the Dunwell mine is the most significant mineral occurrence within the Portland Canal fissure zone. Production at the Dunwell occurred between 1926 and 1941. From historic production reports, it appears that a total of 45,657 tonnes averaging 6.63 grams per tonne gold, 223.91 g/t silver, 1.83 per cent lead, 2.43 per cent zinc and 0.056 per cent copper were produced.

American Creek’s phase I maiden drill program on the Dunwell (which took place within the vicinity of the Dunwell mine in the fall of 2019) produced many high-grade intercepts including:

• 19.4 g/t gold equivalent (AuEq) over 3.6 m;
• 20.3 g/t AuEq over 2.69 m;
• 38.1 g/t AuEq over 0.5 m;
• 28.5 g/t AuEq over 0.45 m;
• 24.4 g/t AuEq over 0.5 m;
• 18.4 g/t AuEq over 1.5 m;
• 19.5 g/t AuEq over 1.2 m;
• 13.3 g/t AuEq over 1.4 m;
• 16.2 g/t AuEq over 0.8 m;
• 15.1 g/t AuEq over 0.6 m;
• 28.2 g/t AuEq over 0.43 m;
• 18.5 g/t AuEq over 0.7 m;
• 10.7 g/t AuEq over one m;
• 15.1 g/t AuEq over 0.6 m.

* AuEq uses $1,500 gold, $18 silver, 88 cents lead, 95 cents zinc and $2.50 copper.

For a table showing breakdown of metals and complete results please view the company’s Feb. 27, 2020, news release.

In addition to the Dunwell mine itself, the property package also contains over two dozen other high-grade gold and silver occurrences and historic small-scale gold/silver high-grading operations along a north/south trend that correlates to the fissure zone and major faulting. Some examples of the nine areas on the Dunwell property that produced ore historically are:

• Ben Ali: 4,500 tons at 21.6 g/t gold;
• Lakeview: 60 tons at 4.7 g/t gold, 2,734 g/t silver and 11.5 per cent lead;
• Victoria: 11 tons at 20.15 g/t gold, 775 g/t silver and 25 per cent lead;
• Tyee: 8.2 tons at 124.4 g/t gold and 4,478.8 g/t silver;
• George E: 12 tons at 13 g/t gold and 3,250 g/t silver, and 23.3 per cent lead.

Each of these areas was producing during the 1930s when exploration techniques and technology were very primitive. They were basically high-grading operations focused on vein systems that were exposed on surface.

The high-resolution gradient magnetometer survey combined with the 3-D Alpha IP survey represent the cutting edge in geophysical technology today and are designed to aid with understanding potential correlations between the multiple high-grade surface showings.

The Dunwell phase II drill program is expected to commence in the near future once the data and interpretation from the geophysical survey are integrated with the IP data, last year’s drilling data and all historical data.

For more information on the Dunwell mine Project please go to the company’s website.

Qualified person

The qualified person for this news release for the purposes of National Instrument 43-101 is Jim McRae, PGeo. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.