Joint Venture Advances Exploration Objectives And Confirms Discovery

TORONTO - Bald Eagle Gold Corp. reported that its core drilling program initial observations are consistent with the objective of discovering a low-sulphidation epithermal mineral system at the Hot Springs Property. The analytical chemistry programs have been and/or are being carried out at American Assay Labs (AAL)and at ALS Global Geochemistry Analytical Laboratory (ALS). To expedite the receipt of full results and based on management's view of the results, several laboratories have been used due to capacity constraints for gold sample analysis in the State of Nevada. This is due to the current intensity of exploration in the state.

Initial nearer-to-surface results have been received for the first hole drilled. The results are from the upper portion of HS-2020-03, from 64 feet (19.5 meters) to 216 feet (65.8 meters) depth. Precious metal values were encountered over a 118.7-foot (36.2 meter) interval, from 97.3 feet (29.7 meters) to 216 feet (65.8 meters), which averaged 0.646 grams per tonne gold with 1.57 grams per tonne silver.  This included a higher-grade interval of 45.8-feet (14.0 meters), from 124.5 feet (37.9 meters) to 170.3 feet (51.9 meters), which averaged 0.996 grams per tonne gold with 1.90 grams per tonne silver. These results only cover the upper 216 feet (65.8 meters) of this 800-foot (243.8 meter) core hole. The current drill program has focused on investigating targets at more than twice the depth of previous drill campaigns. These results demonstrate strong correlation with historic drilling records and confirm the presence of disseminated gold above the target exploration zone.

Alteration in drill hole HS-2020-03 was observed to be strongest and best developed between 216 feet (65.8 meters) to 609 feet (185.6 meters). Significant thicknesses of pervasive argillic alteration are associated with faults and fractures and in sand dominant zones of the Harmony Formation. Most of the gold intervals are associated with a zone of iron-oxide-silica-clay vein stockwork. Alteration was varied but consisted dominantly of pervasive to vein halo argillic and silicification, quartz-sericite-pyrite, veining, and hornfel to skarnoid type alteration.

Abundant argillic alteration, silicification and sulphide mineralization were observed in considerable portions of the 6,403 feet (1,951 meters) of core drilled to date. A total of five holes were completed in the first phase of drilling.

Sidney Himmel, President and Chief Executive Officer, said, "The Company selected the Hot Springs Property based on the historic reports and potential for the discovery of an epithermal style gold deposit at depth. These observations are consistent with our exploration model for the property. These results and observations are positive for several reasons. First, the amount of rock alteration and silicification indicate the presence of a large epithermal system. Second, the grades in this shallow portion of the drill hole correlate with previously report results. Third, there has been excellent correlation between the geophysical anomalies and zones of alteration, brecciation, and sulfidation."