Start Of 2021 Drill Program At Green Springs Gold Project

VANCOUVER - Contact Gold Corp. reported the start of the 2021 drill program at its Green Springs gold project in White Pine County, Nevada. Green Springs is located near the southern end of the Cortez Trend of Carlin-type gold deposits. The Green Springs property is 18.5 km2 encompassing 3 shallow past producing open pits and numerous targets that were not mined. Drilling started with one drill rig operating at the northern end of the 3 km long Mine Trend, stepping out from the 2020 highlight intercept of 10.7 g/t oxide gold over 4.5m.

The current program follows up on a very successful 2020 program that intersected wide intervals of gold mineralization above 2 g/t Au along the entire 3 km strike length of the Green Springs Mine Trend (5.05 g/t Au over 39.6m, 10.7 g/t Au over 4.57m, and 2.34 g/t Au over 33.5m. Results from 7 drill holes from the 2020 program are still pending.

Contact Gold also intersected oxidized gold mineralization at the Pilot Shale - Guilmette limestone beneath each of the Charlie, Bravo and Golf Zones, confirming a key exploration thesis and providing excellent opportunities to drive additional discoveries in 2021. The 2021 program will be focused on reinforcing the district and property-wide potential at Green Springs through: Following up on the multiple broad, oxidized, high grade intercepts from 2020 drilling along the 3km Mine Trend and at the Alpha Zone located 1.5km NE of the Mine Trend; Expand the southern end of the Mine Trend (Zulu discovery) further south, where we have 1.5 km of untested Chainman Shale extending to the southern property boundary; Drilling the never before drilled Tango & Foxtrot targets, to deliver the next round of discoveries at Green Springs: Explore the potential at the Pilot Shale - Guilmette Limestone contact, where 2020 drilling intersected oxidized gold mineralization beneath the Mine Trend; and Gravity and airborne magnetic surveys are underway and will provide valuable information to further refine targeting.

"After a brief winter pause where we received most of the 2020 drill results, we are excited to be back drilling at Green Springs for 2021. With the very positive results from 2020, we will continue to focus on near surface, oxidized gold mineralization, with 90% of gold intercepts less than 50m from surface along the Mine Trend." said, Matt Lennox-King, CEO. "With an updated interpretation of the gold mineralization at Green Springs we are looking forward to drill testing Tango and Foxtrot for the first time, where we believe there is an excellent chance for those targets to deliver new discoveries to augment the already significant footprint of the Mine Trend."

The Mine Trend is a north-south corridor of gold mineralization extending from three past producing open pits (Charlie, Charlie North and Delta) and encompasses the Bravo, Charlie, Delta, Echo and Zulu Zones. Drilling in 2020 has expanded the Mine Trend from 2km to 3km through new discoveries at Zulu and expansion of the Bravo Zone. Wide intervals of gold mineralization above 2 g/t Au were originally discovered at Echo in 2019 (5.05 g/t Au over 39.6m) and have been expanded by Contact Gold in each successive drill program. Drilling in 2020 also delivered the highest grades from Bravo (10.7 g/t Au over 4.57m), and Charlie (2.34 g/t Au over 33.5m). Outside of the Mine Trend, the Alpha Zone also returned similar gold grades and widths with 2.1 g/t Au over 21.3m, providing another potential zone to extend the Mine Trend.