New High-Grade Gold-Silver System On Pyramid Peak

TORONTO - Evergold Corp. reported that first-ever drilling high on Pyramid Peak, on the it’s Snoball Property in northern British Columbia has tapped into a significant new high-grade vein system, returning multiple intercepts of vein-hosted gold and silver, including local high grades. The Company notes it is very early days in the unfolding of the discovery, and it may require time to understand the controls on mineralization and determine where to go next.  Nonetheless the Company is excited to continue exploration and to see where the work in planning may lead, as the evidence suggests that the system that lies beneath Pyramid Peak and Snoball Ridge has vertical extent, deep roots and strong potential for high grades in multiple structures.

President & CEO, Kevin Keough, said, “Our team has done a really fine job, in very challenging weather conditions, executing the first-ever drilling at Pyramid Peak, and in the process delivered an exciting early stage discovery in the heart of some of the most prospective geological real estate in the world. It’s a high-grade system that warrants perseverance. Our plan now is to get better positioned with new pads downslope from the Apex pad and to the west along Snoball Ridge, where our modeling suggests the potential for multiple mineralized structures. Weather allowing, we anticipate being able to complete construction of these new drill pads this season and possibly bring the drill back on. While we await the remaining Snoball assays, drilling continues to the east at our Golden Lion property, and that story too is starting to look rather exciting, as noted below.  It’s early in the discovery process at both these properties, but we remain highly confident in their potential to generate strong returns for shareholders as we move forward.”