Drill Program At Green Springs Gold Project

VANCOUVER - Contact Gold Corp. reported drill results from the first 6 holes of the 2021 drill program at its Green Springs gold project in White Pine County, Nevada. The 2021 program started in late February, focused on the northern end of the 3 km long Mine Trend at Green Springs. Drill Highlights: 1.45 g/t Au over 47.24 meters in hole GS21-05 from a downhole depth of 50.29 meters at the Mine Trend (82% gold recovery in Cyanide assays); Interval includes 1.68 g/t Au over 38.1 meters (83% gold recovery in Cyanide assays); Extends gold mineralization along a key east-west striking cross structure, which was originally identified in drill hole GSC20-05 which returned 2.34 g/t over 33.53 meters (81% gold recovery in Cyanide assays); These results represent the successful implementation of advanced modeling efforts that are being incorporated into our 2021 drill program to intersect thicker and high-grade portions of the Green Springs gold system; 0.89 g/t Au over 12.19 meters in hole GS-02 from a downhole depth of 24.38 meters at the Mine Trend (65% gold recovery in Cyanide assays); Continued to demonstrate near surface, oxide gold mineralization at the northern portion of the Mine Trend with offsets of GS20-25 that intersected 10.7 g/t over 4.57 meters; 47 drill holes have been completed in the 2021 program to date for a total of 5,856 meters; and Drill results are expected to continue to be received throughout the summer from Green Springs.

"These initial results from our 2021 drill program are a great start for our exploration activities at Green Springs," stated Matt Lennox-King, CEO of Contact Gold. "Last year's drill program continued to deliver thick intervals of high-grade, oxide gold mineralization along the Mine Trend's 3 km length. Our team's geology modeling efforts refined our understanding of structural controls to mineralization allowing us to target thick and high-grade portions of the Green Springs gold system."

Vice President of Exploration, Vance Spalding, commented, "In addition to the Mine Trend drilling, and thanks to having a Plan of Operations permit in hand to construct the necessary roads and drill pads, we are excited to be drilling the newly identified Tango target. Tango is an excellent opportunity to discover a new Carlin-Type gold zone. We have drilled 19 holes into Tango in this phase of the program. Our focus is on rapidly expanding the footprint of gold mineralization along the Mine Trend, and at the un-drilled frontier targets as we continue to reinforce the high-quality nature of the Green Springs oxide gold project."

The Mine Trend is a north-south corridor of gold mineralization extending from three past producing open pits and encompasses the Bravo, Charlie, Delta, Echo, and Zulu sub-zones. Drilling in 2020 expanded the Mine Trend from 2km to 3km through new discoveries at the north and south ends of the trend. The 2021 Green Springs program is designed to follow up on a successful 2020 program that intersected wide intervals of oxide gold mineralization above 2 g/t Au that 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.