Discovery Of Oxide Gold In Pilot Shale East Of Mine Trend At Green Springs

VANCOUVER - Contact Gold Corp. reported results for 5 drill holes completed at the Golf Target, from the 2020 drill program at the Green Springs gold property, in White Pine County, Nevada. Key Points: Drilling of oxide gold in the Pilot Shale at the Golf Zone represents a significant proof of concept and indicates the potential for gold mineralization in the Pilot Shale horizon which is interpreted to extend across much of the property; Drilling at the Golf Zone has confirmed the presence of oxidized gold mineralization representing an exciting new target 1.2 km to the east of the Mine Trend; and Currently results are pending for 26 holes from the Alpha, Bravo, Charlie and Echo Zones. Drill Highlights:

Golf Zone - 0.29 g/t Au over 4.57 meters from a depth of 161 meters in hole GS20-11, 94% Cyanide recovery - Pilot Shale hosted; 0.83 g/t Au over 7.62 meters from a depth of 1.52 meters, in hole GS20-10, 67% Cyanide recovery - Chainman shale hosted, and Including: 1.17 g/t Au over 4.57 meters.

Drilling at the Golf Zone was designed to test the near surface intervals of Chainman Shale hosted gold mineralization intersected by a previous operator in 2017, and the Pilot Shale - Guilmette Limestone contact, known to host significant gold mineralization at Green Spring's Alpha, Echo, and Bravo Zones. Drill hole GS-2011 successfully intersected oxidized gold mineralization in the Pilot Shale with 0.29 g/t Au over 4.57 meters. The presence of oxidized, Pilot Shale hosted gold mineralization at the Golf Zone marks a significant proof of concept for the exploration model at Green Springs, and potentially opens the Golf Zone for additional mineralization in the Pilot Shale. Drill intercepts in the Chainman Shale were well oxidized and on par with historic results from 2017.

The Golf Zone is located 1.2 km due East of the historical Charlie Pit, in an area of exposed Chainman Shale. Mineralization at Golf is associated with a large gold-in-soil geochemical anomaly, strong jasperoid development, and an apparent east-west oriented structural zone. Golf was originally drilled in 2017 by a previous operator, with drilling returning 1.0 g/t Au over 6.1 meters in 2 closely spaced drill holes. Drilling by Contact Gold has confirmed the presence of gold mineralized Pilot Shale beneath Golf, representing an exciting new target 1.2 km to the east of the Mine Trend.

"While we were predominantly focused on the Pilot Shale target under the Mine Trend, we thought the target concept should work at other targets across the wider project area. Hitting gold in the Pilot Shale at Golf, some 1.2 km east of the Mine Trend, is hugely positive in both proving the concept and expanding the area in which that concept can be tested." said, Matt Lennox-King, CEO. "These results continue to reinforce the untested blue-sky potential at Green Springs."