Extensions From Major Step-out Drilling At The Mustajärvi Gold Project

SODANKYLÄ, FINLAND - FireFox Gold Corp. reported on the final four holes of the spring 2023 core drilling campaign at the Mustajärvi Gold Project in Lapland, Finland. Drill holes 23MJ005, 23MJ007, 23MJ008 and 23MJ009 at the East Target all encountered significant intervals of gold mineralization. Most encouraging were the holes to the southwest of the previous high-grade zone, which highlight the potential for significant expansion of the East Target in this direction. Company geologists also conducted a limited test trenching campaign over the surface expression of the East Target. The first trench revealed bonanza grade gold mineralization including 6.87 metres that averaged 59.12 g/t Au on the basis of uncut results from 1-kilogram screen fire assays.

Drill hole 23MJ005 hit strong mineralization in an 80-metre step-out to the southwest from the previously drilled western-most high-grade hole. 4.20m averaging 5.74 g/t Au from 60.8 metres down hole, and 7.05m average 4.77 g/t Au from 68.0 metres down hole, including 1.0 metre at 20.8 g/t Au. Drill hole 23MJ008 was a further 135-metre step-out to the southwest, for a total of approximately 215 metres step-out from the previous high-grade area. The hole included multiple intervals of significant gold from near surface to 180 metres depth, confirming the potential for expansion of the target in this direction.  2.0 m averaging 4.75 g/t Au from 29.0 metres down hole, including 0.8 m at 11.1 g/t Au, and 7.0 m averaging 1.77 g/t Au from 112.0 metres down hole, plus 1.0 m at 0.61 g/t Au from 180 metres down hole.

Drilled in the opposite orientation, drill hole 23MJ009 confirmed the continuity of the southwestern step-out between 23MJ005 and the historic high-grade holes, with multiple gold intervals between 75 and 156 metres down hole. 5.55 m averaging at 4.45 g/t Au from 75.55 metres down hole.

Carl Lofberg, CEO, said, "We are very pleased with these exciting step-out drill holes from the high-grade East Target. New mineralization amid thick zones of alteration located more than 200 metres southwest from previous drilling is a significant indication of the expansion potential of Mustajärvi. The East Target remains open to the south, southwest, and northeast. It is also exciting that our first attempt to trench into the system from surface has revealed such high grades beneath only a few metres of glacial overburden. This trenching exercise improves our understanding of the shallow gold shape, its orientation, and the controls on bonanza grade. We are very much looking forward to bringing the drill back to Mustajärvi in August."