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GOLDSTRIKE samples 176 g/t (5.13 oz/ton) gold at McMurdo property, southern British Columbia, Canada

November 30th, 2020 – Goldstrike Resources Ltd. (GSR.V) (Goldstrike) is pleased to announce that a limited program of prospecting and geochemical surveying in 2020 has confirmed high-grade gold (Au) mineralization at its newly staked McMurdo property in southern British Columbia, Canada.

This includes in situ and float rock samples that assayed up to 175.9 g/t Au (5.13 oz/ton) from its newly expanded “Crown Point” zone. Significant assay results exceeding 10 g/t Au are presented in Table 1.

Table 1: Significant assay results from Crown Point and Decision Creek (>10 g/t Au)

Rock Sample ID Type Exposure Gold (g/t) Description
1880106 Grab Outcrop 47.4 20-30cm quartz vein with blebs of pyrite along margin of vein. Approx. 10% pyrite.
1880108 Grab Outcrop 175.9 2m-wide boudinaged quartz vein with massive pyrite seam along vein margin. Approx. 70% pyrite.
1880115 Grab Float 76 Quartz vein sample from tailings with patchy massive pyrite blebs. Approx. 60% pyrite.

 

1880132

 

Grab Outcrop 49.7 1.5m-wide boudinaged quartz vein with blebby pyrite. Approx. 20% pyrite.
1880032 Grab Outcrop 13.3 >2m-wide quartz vein with patchy-massive arsenopyrite and pyrite.

The program, designed to confirm the gold potential of the property, was successful in both extending historical gold showings and discovering new high-grade gold in quartz veins. A total of 33 soil samples and 74 rock grab samples were collected during the program. The results highlight the potential for significant precious metal mineralization in the area.

The Crown Point zone comprises a 400m x 300m area that contains auriferous quartz veins hosted in a micaceous grit unit. This area has been exposed following roughly 700m of glacial retreat since the turn of the 20th century, which provided company geologists with the opportunity to significantly expand the known historic mineralized zone. The quartz veins range from a few centimetres to 3m in width and contain irregularly disseminated pyritic mineralization throughout. Grab samples from these veins assayed up to 175.9 g/t (5.13 oz/t) Au.

Refer to this link https://goldstrikeresources.com/wp-content/uploads/CROWN_POINT_ZONE_MM.jpg for the 2020 Crown Point sample results map.

The gold bearing quartz veins are hosted in a micaceous grit unit that is repeated ~1,700m to the southeast where known historical gold mine workings occur. These historical workings host gold mineralization analogous to the newly discovered Crown Point gold showings. Both showings are located on the same axial trace of a regional antiform and are within property boundaries. First-pass sampling from the historic workings returned gold assays up to 76 g/t (2.22 oz/ton) Au from pyritic quartz veins, and anomalous gold-in-soil assays up to 88 ppb Au. The similar geological and mineralogical settings of the two showings indicate potential for significant southeastward expansion of the high-grade gold system at Crown Point.

Refer to this link https://goldstrikeresources.com/wp-content/uploads/GOLD_RESULTS_MAP_MM.jpg for the 2020 property-wide sample results map.

This is the first-time modern exploration methods have been employed to identify the gold potential of the McMurdo Property. Based on the strong results from this first-pass program, it is Goldstrike’s opinion that there is excellent potential for additional high-grade gold discoveries.

About McMurdo:

Location

The McMurdo property is a regional grassroots exploration target, generated in-house by Goldstrike’s exploration team. The property covers 1,728 hectares (4,258 acres) of highly prospective geology located in the northern Purcell Mountain range of southeast British Columbia. The property is located 30 kilometres southeast of Golden, British Columbia and can be accessed via maintained forest service roads or by helicopter based in the nearby town of Golden. It is 100%-owned by Goldstrike Resources with no underlying royalties or payments.

Geology

The property is underlain by a thick sequence of Proterozoic marine sedimentary rocks exposed in the core of the northwest trending Purcell Anticlinorium. This anticlinorium is deformed by a complex series of thrust faults and folds running parallel to the northwest-southeast trending axial trace. The rocks exposed on the McMurdo property belong to the Horsethief Creek group and comprise a series of prominent grit and quartzite sedimentary members separated by shales and minor carbonate units. The Cretaceous Battle Range Batholith intrudes the sedimentary rocks approximately 10 km southwest of the property. Gold mineralization occurs mainly as pyritic quartz veins that strike northwest and are steeply dipping to the northeast. The quartz veins are typically confined to the coarser grained grits and quartzites. Replacement style lead-zinc-silver (Pb-Zn-Ag) mineralization is confined to the more finely textured carbonate and shale units.

Refer to this link https://goldstrikeresources.com/wp-content/uploads/McMurdo_Goldstrike_Resources_Presentation_Final_2020.pdf for the 2020 McMurdo presentation.

History

The area was first prospected in the late 1800s for gold and then shortly after for lead, zinc, and silver. The first gold discoveries were made in the early 1890s, and a small stamp mill was built on Decision Creek to treat gold ore obtained from the Burns and Dutchman mining leases. The present McMurdo property covers the former Burns mining leases and quartz-sulphide veins. At about the same time, the Crown Point prospect, comprising lead-zinc-silver replacement style mineralization, was discovered at the headwaters of McMurdo Creek. This prospect was periodically mined until the 1940s with a total of 762 meters of underground workings. Several minor gold showings were also discovered near the former Crown Point mine at this time.

In 1966, West Gate Mines completed the most recent documented exploration program focusing on gold in the area. West Gate’s work consisted of prospecting and re-sampling of historical workings, and recommended diamond drilling to follow up on results.

Commencing in the late 1970s, the area underwent regional exploration over a period of several years for SEDEX-style lead – zinc mineralization. A significant amount of geological, geochemical and geophysical surveying was completed, followed by exploration diamond drilling. Only a small portion of this work was completed on the McMurdo property, and most of the geochemical samples were not assayed for gold.

Message from the President 

“The confirmed presence of abundant high-grade gold veins that have been revealed by glacial recession, combined with the lack of modern-day gold exploration techniques, shows that the McMurdo property has strong potential for a significant gold discovery. With road access to the claim block and proximity to the community of Golden BC, the economics of developing a deposit are clearly enhanced. We are looking forward to advancing this high-grade gold property”.

 

ON BEHALF OF THE BOARD

Daithi Mac Gearailt

President and Chief Executive Officer

Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Goldstrike’s Yukon exploration projects and has reviewed and approved the technical information in this release.

For new information from the Company’s programs, please visit Goldstrike’s website at GoldstrikeResources.com and sign up to receive news. For further information, follow Goldstrike’s tweets at Twitter.com/GoldstrikeRes,  use the ”Contact” section of our website, or contact us at (604) 681-1820 or at info@goldstrikeresources.com

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 release.

Forward-Looking Statements

Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “anticipates”, “expects”, “understanding”, “has agreed to” or variations of such words and phrases or statements that certain actions, events or results “would”, “occur” or “be achieved”.  Although Goldstrike has attempted to identify important factors that could affect Goldstrike and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended.  In making the forward-looking statements in this news release, if any, Goldstrike has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner.  There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.  Accordingly, readers should not place undue reliance on Forward-Looking Information.  Except as required by law, Goldstrike does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

GOLDSTRIKE samples 164 grams per tonne gold and 257 grams per tonne silver at Willie Jack and proves widespread gold mineralization over 6 kilometers

October 19th, 2020 – Goldstrike Resources Ltd. (GSR.V) (Goldstrike) is pleased to announce results from its first pass prospecting and geochemical exploration program at its newly staked Willie Jack property in northern British Columbia (BC). Located in the Atsulta Mountain range, this is an area that has been previously overlooked for its gold potential with no known historical hard rock gold showings.

The prospecting portion of the 2020 program was successful in discovering widespread high-grade gold mineralization in rock over a distance of 6 kilometers, with assays up to 164 g/t (4.78 oz/ton) gold (Au) and 257 g/t (7.50 oz/ton) silver (Ag).

The soil geochemical survey was successful in outlining a 4.5 km long gold-silver-arsenic (Au-Ag-As) soil anomaly with gold values up 0.8 g/t. Upon receiving the results Goldstrike immediately extended its land package to cover new target areas of potential mineralization. The prospecting and geochemical survey included the collection of 185 ridge and spur soil samples and 94 rock grab samples.

Refer to this link for the 2020 sample results map.

The Willie Jack property is located in one of British Columbia’s last frontiers and has had no documented modern-day gold exploration prior to Goldstrike’s 2020 summer program.  Based on the quantity, grades, and aerial extent of auriferous samples discovered, Goldstrike’s team believes there is potential to delineate an extensive gold system in this area of previously un-recognized gold potential in British Columbia.

Project Generation:

The Willie Jack property is a grassroots gold target, generated in-house by Goldstrike’s team, and covering highly prospective ground in an underexplored area of northern British Columbia. The Goldstrike project generation team has a solid track record of discoveries, including the Plateau property in east-central Yukon Territory, and the recently staked Skelly property in northern British Columbia.

Location:

The 3,503-hectare property is 100%-owned by Goldstrike Resources with no underlying payments or royalties. The property is situated in the Atsulta Mountain range on the Kawdy Plateau in northern British Columbia, Canada. It is located 130 km NW of Dease Lake, BC and 70 km south of the Yukon-BC border.

Geology:

The Willie Jack property covers a strongly anomalous regional geochemical gold-arsenic-antimony (Au-As-Sb) signature within a geological setting that shows potential for both porphyry and intrusion-related gold mineralization.  The property is situated at the headwaters of a historic placer gold-bearing creek and covers a Jurassic age granite pluton that intrudes Paleozoic sedimentary rocks. The area was briefly prospected in the early 1970’s for its copper porphyry potential but no assays were taken for gold.

Widespread gold-silver mineralization was discovered on the property in 2020. Grab samples of rock float material assayed up to 164 g/t Au and 257 g/t Ag, and bedrock samples returned values up to 13.9 g/t Au and 25 g/t Ag. Copper (Cu) values as high as 1.74 % were also obtained from bedrock samples.

Significant gold assays were returned from both granitic intrusive rocks and sedimentary rocks.  The higher-grade gold values were returned from narrow, steeply dipping quartz-sulphide veins hosted in a propylitic-altered granite. Weakly anomalous gold values were also returned from granite-hosted gossanous fracture zones that contain disseminated fine grained pyrite.  Auriferous samples obtained from the sedimentary rocks near the granite contact consisted of quartz-arsenopyrite veins and resemble gold skarn mineralization. Several soil sample sites covering 4.5 kilometers of the granite-sedimentary rock contact display an anomalous Au-Ag-As +/- Bi-Sb-Te (bismuth-antimony-tellurium) signature, further suggesting gold skarn mineralization. This anomaly may represent the lode source of the placer gold in Willie Jack Creek directly downslope, and remains a priority for the 2021 follow up program.

Refer to this link for the Willie Jack presentation.

Target Generation: Three new grassroots properties available for option

During this period of global pandemic and rising gold prices, Goldstrike’s team has been compiling and analyzing British Columbia’s vast geological and geochemical databases in order to generate gold targets in underexplored areas. While Goldstrike’s main focus will remain advancement of the Plateau Property, the company will continue to generate, develop, and option out grassroots gold properties in British Columbia and Yukon Territory. 

Three properties were staked by Goldstrike Resources in 2020: the Skelly, Willie Jack, and McMurdo properties. All three of the properties are located in British Columbia and underwent reconnaissance-style exploration. Results of the Skelly property program can be found in the news release dated October 5th, 2020. Results are still pending for McMurdo property and will be released as assays are received and compiled.

Message from the President

“This is hands down the most successful grassroots, first pass exploration program completed by the company to date. The widespread, high-grade gold mineralization discovered in this remote underexplored part of northern BC is extremely encouraging.  We have staked additional ground, thereby expanding the claim package in the area, and are excited to follow up on these new discoveries next season. The Willie Jack property has the potential to be developed into a district-scale discovery.

I am thoroughly impressed with our team’s results and achievements during this uncertain Covid-19 pandemic time period. I believe Goldstrike has positioned itself well to take advantage of the current gold bull market that continues to remain strong.”

ON BEHALF OF THE BOARD

Daithi Mac Gearailt

President and Chief Executive Officer

Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Goldstrike’s Yukon exploration projects, and has reviewed and approved the technical information in this release.

For new information from the Company’s programs, please visit Goldstrike’s website at GoldstrikeResources.com and sign up to receive news. For further information, follow Goldstrike’s tweets at Twitter.com/GoldstrikeRes,  use the ”Contact” section of our website, or contact us at (604) 681-1820 or at info@goldstrikeresources.com

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 release.

Forward-Looking Statements

Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting; and the plans for completion of the contemplated transactions with Newmont as set out above.  In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “anticipates”, “expects”, “understanding”, “has agreed to” or variations of such words and phrases or statements that certain actions, events or results “would”, “occur” or “be achieved”.  Although Goldstrike has attempted to identify important factors that could affect Goldstrike and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended.  In making the forward-looking statements in this news release, if any, Goldstrike has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner.  There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.  Accordingly, readers should not place undue reliance on Forward-Looking Information.  Except as required by law, Goldstrike does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

GOLDSTRIKE SAMPLES 35.5 grams per tonne gold and 488 grams per tonne silver at Skelly property, northern BC

October 5th, 2020 – Goldstrike Resources Ltd. (GSR.V) (Goldstrike) is pleased to announce results from a first pass reconnaissance exploration program at its newly staked Skelly property in northern British Columbia.

A first pass exploration program was conducted at the Skelly property during the summer of 2020 to evaluate the property’s gold potential. A prospecting and geochemical survey included the collection of 122 ridge and spur soil samples and 64 rock grab samples. Rock samples returned gold (Au) values up to 35.5 g/t (1.03 oz/ton) and silver (Ag) values up to 488 g/t (14.24 oz/ton) in quartz-sulphide veins. Soil samples revealed a property-wide enrichment in gold, arsenic (As) and antimony (Sb) with values up to 63.4 ppb Au, 5,218 ppm As and > 2,000 ppm Sb. On receiving these results Goldstrike immediately extended its land package to cover all new targets for potential mineralization.

Project Generation:

The Skelly property is a grassroots gold target, generated in-house by Goldstrike’s team. The Goldstrike project generation team has a solid track record of discoveries, including the Plateau property in east-central Yukon Territory.

Location:

The 2,526-hectare Skelly property is 100%-owned by Goldstrike Resources with no underlying payments or royalties. The property is situated just south of the Yukon-British Columbia (BC) border, approximately 100 km south of Whitehorse, Yukon (YT) and can be accessed via the South Klondike Highway (Hwy 2) which extends through the property.

Geology:

Skelly covers a geological and geochemical setting similar to the Golden Triangle district (300 km to the south). It is located in the northern end of the Stikine Terrane which includes the Stuhini volcanic package and is marked by strong, regional-scale gold-arsenic geochemical enrichment similar to that of the Golden Triangle district. The claim package is contiguous to Bessor Mineral Inc’s 14 km-long (8,178 ha) Golden Eagle property that hosts numerous high-grade gold-silver-quartz veins with several significant drill intercepts. Goldstrike’s team believes this highly prospective gold district has been overlooked and remains underexplored compared to other gold districts in British Columbia. Like the Golden Triangle, this district has potential to host a variety of deposits, including epithermal, porphyry, and volcanogenic massive sulphide (VMS) deposits.

Refer to this link https://goldstrikeresources.com/wp-content/uploads/sk_gsr_pres_vfinal.pdf for the Skelly presentation.

Two previously undocumented historic exploration shafts were discovered on the property. These shafts were sunk into 0.2 – 1.0 m wide quartz-sulphide veins, from which grab samples assaying up to 35.5 g/t Au and 488 g/t Ag. This series of auriferous quartz veins was sampled along a 100-meter northwest – southeast trending corridor hosted by a shear zone that parallels a granite/metasedimentary bedrock contact. Mineralized samples obtained from the shear zone returned gold values ranging from 0.24 g/t to 35.5 g/t. The shear zone and auriferous quartz veining remain open along strike, with strong potential for additional discoveries by detailed prospecting and soil geochemical sampling.  Refer to the link  https://goldstrikeresources.com/wp-content/uploads/skelly_results_gold.jpg for the 2020 sample results map.

Further to the discovery of the high-grade gold and silver quartz veins, lower-grade quartz-sulphide veins were discovered 950m to the east, with float grab samples assaying up to 0.28 g/t Au. Also, low-grade gold was identified in arsenopyrite-bearing granite dikes, with gold values up to 0.1 g/t Au. The Tintina Gold Belt hosts many intrusion-related gold deposits, and Skelly’s location at the southern end of it encourages targeting of this style of mineralization in follow-up exploration.

Target Generation: Three new grassroots properties available for option

During this period of global pandemic and rising gold prices, Goldstrike’s team has been compiling and analyzing British Columbia’s vast geological and geochemical databases in order to generate several gold targets in underexplored areas. While Goldstrike’s main focus will remain advancement of the Plateau Property, the company will continue to generate, develop, and option out grassroots gold properties in British Columbia and Yukon Territory.

Three properties were staked by Goldstrike Resources in 2020: the Skelly, Willie Jack, and McMurdo properties. All three of the properties are located in British Columbia and underwent reconnaissance-style exploration. Results are still pending for the Willie Jack and McMurdo properties and will be released as assays are received and compiled.

Message from the President

“We are extremely pleased with the results from this first pass program. It proves yet again that the team can take conceptual ideas and generate properties that have strong mineral potential with solid gold and silver grades. In only three days the team was able to identify multiple zones of significant gold, silver and sulphide mineralization. These showings are not only ripe for follow-up exploration, but present many new exploration opportunities along known geological contacts. Upon receiving these results, we immediately staked additional ground to secure the area.

I await results from our other grassroots projects, the Willie Jack and McMurdo projects, with great anticipation.”

ON BEHALF OF THE BOARD

Daithi Mac Gearailt

President and Chief Executive Officer

Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Goldstrike’s Yukon exploration projects, and has reviewed and approved the technical information in this release.

For new information from the Company’s programs, please visit Goldstrike’s website at GoldstrikeResources.com and sign up to receive news. For further information, follow Goldstrike’s tweets at Twitter.com/GoldstrikeRes,  use the ”Contact” section of our website, or contact us at (604) 681-1820 or at info@goldstrikeresources.com

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 release.

Forward-Looking Statements

Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting; and the plans for completion of the contemplated transactions with Newmont as set out above.  In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “anticipates”, “expects”, “understanding”, “has agreed to” or variations of such words and phrases or statements that certain actions, events or results “would”, “occur” or “be achieved”.  Although Goldstrike has attempted to identify important factors that could affect Goldstrike and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended.  In making the forward-looking statements in this news release, if any, Goldstrike has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner.  There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.  Accordingly, readers should not place undue reliance on Forward-Looking Information.  Except as required by law, Goldstrike does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Goldstrike Grants Stock Options

July 10, 2020 – Goldstrike Resources Ltd. (“Goldstrike” or the “Company) announces that subject to all regulatory approvals, Goldstrike has granted 1,760,000 incentive stock options to directors, officers, board advisors and certain consultants of the Company. Options issued pursuant to this grant to directors and officers shall vest immediately; options issued to board advisors and certain consultants shall vest for a period of 18 months with 1/6 vest each 3 months.  All options have a term of 5 years and are exercisable at $0.24.

ON BEHALF OF THE BOARD

Daithi MacGearailt

President and Chief Executive Officer

For new information from the Company’s programs, please visit Goldstrike’s website at GoldstrikeResources.com. For further information follow the Goldstrike’s tweets at Twitter.com/GoldstrikeRes or contact Daithi MacGearailt by telephone at (604) 681-1820 or by email at info@goldstrikeresources.com.

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 release.

Goldstrike Provides Corporate Update

May 5, 2020 – Goldstrike Resources Ltd. (GSR.V) is pleased to provide a corporate update regarding the status of the Company and its assets.

COVID-19 Response

In response to the COVID-19 pandemic, the Goldstrike corporate office in downtown Vancouver is currently closed. All staff are working from home and steps have been taken to ensure operations are proceeding as effectively as possible. Goldstrike will continue to monitor the situation and act within the guidelines and recommendations of the provincial, territorial, and federal governments in which it operates.

Plateau Property

Goldstrike’s 662 km2 Plateau Property, located 120 km east of Mayo, Yukon Territory, remains the Company’s flagship property and core asset. This newly discovered, district-scale gold system hosts high-grade gold along a 50-kilometre strike length in the underexplored Selwyn Basin. In addition to Plateau, the Selwyn Basin also hosts recent discoveries by ATAC Resources Ltd.  of Carlin-type deposits at the Osiris project (1.68M oz gold (Au), inferred resource), and the carbonate-replacement-type Tiger deposit (464,000 oz Au, measured + indicated resource).  The Selwyn Basin also hosts the Yukon’s newest and largest gold mine: Victoria Gold Corp.’s Eagle Deposit (3.3M oz Au, proven + probable reserves). Most recently, Seabridge Gold announced an agreement to acquire the 3 Aces gold project (located in the southeast corner of the Selwyn) from the Golden Predator Mining Corp. Due to these many new and evolving projects, industry and academic interest in the Selwyn remains strong.

Data Evaluation

Over the last year, Goldstrike and our team of consultants have been evaluating the massive data package that was obtained by Newmont during its option agreement term with Plateau from 2017 to 2019. This data includes airborne geophysical surveys, such as airborne EM (electro-magnetic), airborne magnetic and radiometric, and property-wide LiDAR surveys. Newmont also completed geochemical surveys, such as its proprietary regional stream sediment sampling (BLEG) survey and obtained more than 5,500 soil samples. Using this data set, Goldstrike’s goals are to further develop and expand known showings at Plateau, and to evaluate the mineral potential of underexplored areas of the property.

Access Improvements

Goldstrike has undertaken plans to improve access to the Goldstack zone (Discovery hole – 13.25 g/t Au over 17.5m,) to reduce or remove the need for helicopter support. The zone is located less than 1 kilometre from Goldstack Lake, the primary float-plane access point for the Plateau Property.

Future Exploration Plans

A 2018 orientation IP (induced polarization) survey at Goldstack indicated the zone displays a distinct and robust chargeability signature. The Company believes at this time that IP surveying is the most effective tool available for finding similar or larger zones of mineralization in the immediate area, and as such is designing a large-scale IP survey over the Goldstack area.

Partnerships

On a corporate level, the Company is discussing multiple options and structures to move the Plateau Project forward and build value. For more information, an updated corporate presentation can be found on our new website here.

Beyond Plateau

Goldstrike Resources continues to be a pure gold explorer. The Company is currently evaluating gold projects of merit across Canada and the United States with the intention of acquisition. The Goldstrike team is committed to grow the Company and build value for our shareholders.

Annual Filings

The company is pleased to announce that it has filed its audited annual financial statements and related Management’s Discussion and Analysis (the “MD&A”) for the financial year ended December 31, 2019 (collectively, the “Annual Filings”) on the System for Electronic Document Analysis and Retrieval (“SEDAR”).  To review a copy of the Annual Filings, please visit www.sedar.com.

Message from the President

“During these challenging times, our first and foremost priority is the safety and well-being of our staff. We are taking the time now to form strategies to safely and effectively execute meaningful work programs this season. We firmly believe that gold exploration in stable jurisdictions is where real value will be built for our investors. As the Company sits today, we have over $2M cash in the bank, just under 10M shares outstanding, and an excellent core asset. Having the right team, financial support and structure, we are uniquely positioned to seize opportunities as they present themselves”.

ON BEHALF OF THE BOARD

Daithi Mac Gearailt

President and Chief Executive Officer

Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Goldstrike’s Yukon exploration projects, and has reviewed and approved the technical information in this release.

For new information from the Company’s programs, please visit Goldstrike’s website at GoldstrikeResources.com and sign up to receive news. For further information, follow Goldstrike’s tweets at Twitter.com/GoldstrikeRes,  use the ”Contact” section of our website, or contact us at (604) 681-1820 or at info@goldstrikeresources.com

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 release.

Forward-Looking Statements

Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting; and the plans for completion of the contemplated transactions with Newmont as set out above.  In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “anticipates”, “expects”, “understanding”, “has agreed to” or variations of such words and phrases or statements that certain actions, events or results “would”, “occur” or “be achieved”.  Although Goldstrike has attempted to identify important factors that could affect Goldstrike and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended.  In making the forward-looking statements in this news release, if any, Goldstrike has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner.  There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.  Accordingly, readers should not place undue reliance on Forward-Looking Information.  Except as required by law, Goldstrike does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

 

Goldstrike Announces Completion of Share Consolidation

Goldstrike Resources Ltd. (“Goldstrike” or the “Company) announces that further to its news release of December 23, 2019, the Company’s intention to consolidate its common shares (“Shares”) on a 20-old-for-1-new share basis (the “Consolidation”) has been accepted by the TSX Venture Exchange.

Prior to implementing the Consolidation, the Company had 190,343,723 Shares issued and outstanding and immediately after implementing the Consolidation, the Company will have 9,517,186 Shares issued and outstanding. No fractional shares will be issued as a result of the Consolidation. Each fractional share following the Consolidation that is less than one-half of a share will be cancelled and each fractional share that is at least one-half of a share will be rounded down to the nearest whole share. The exercise price and the number of Shares issuable under any of the Company’s outstanding stock options and convertible instruments, as applicable, will be proportionately adjusted in connection with the Consolidation.

Effective at the opening of trading on January 17, 2020 the pre-Consolidation Shares in the name of Goldstrike Resources Ltd. will be delisted and the post-Consolidation Shares will commence trading under the same name Goldstrike Resources Ltd. and same trading symbol of “GSR”.

Holders of Shares who hold un-certificated Shares (including Shares held through a brokerage account and/or not represented by a physical share certificate) have had their holdings electronically adjusted by the Company’s transfer agent or by their brokerage firms, banks, trust or other nominees. Such holders do not need to take any additional actions to exchange their pre-Consolidation Shares for post-Consolidation Shares. Letters of transmittal have been mailed to all registered shareholders holding share certificates with instructions on how to exchange existing share certificates for new share certificates. A letter of transmittal is also available on SEDAR. The Company’s new CUSIP number is 38154B208 and its new ISIN number is CA38154B2084.

ON BEHALF OF THE BOARD

Daithi MacGearailt
President and Chief Executive Officer