High-Grade Gold Underground Channel Samples At The Fondaway Canyon Project, Churchill County, Nevada

TORONTO - Getchell Gold Corp. reported on the underground channel samples collected by a previous operator at the Company's flagship Fondaway Canyon Gold Project in Nevada. "The underground development along the Half Moon shear vein reveals a significant high-grade gold mineralizing system at Fondaway Canyon with remarkable vertical extent, The Half Moon high grade, in conjunction with the extensive gold mineralization found at or near surface supports the Company assessing the Project's potential for both bulk tonnage and underground mining,” said Mike Sieb, Director.

Tenneco Minerals Corporation actively operated the Fondaway Canyon Gold Project from 1986 through 1990. During this period, Tenneco drilled >350 exploratory holes and mined 169,000 tonnes of oxidized material from various pits across the Project. In 1989, Tenneco completed 165 metres (540 feet) of underground development to access, bulk sample and assess the sulfide bearing mineralization of the Half Moon shear vein; one of the prominent gold mineralized quartz rich shear zones within the central area of the Project. The underground development was 4.3 m (14 feet) wide, consisting of a 107 m (350 foot) adit to access the plane of the Half Moon shear vein and a 52 m (169 feet) drift on strike with the shear vein for sample collection. Each mining blast round along the shear vein advanced the working face by approximately 3.05 m (10 feet) and when possible, each blast face was mapped and channel sampled.

The gold mineralization was shown to be fairly continuous along the extent of the drift and covered the full width or extended beyond the width of the drift over part of the drift's length. Of note, was the multitude of exceptionally high-grade channel samples reporting from the sampling campaign. The most eastern and final blast face, 1125E, exposed the gold mineralization across the entire face and returned a composite channel sample grading 12.4 g/t Au over 4.3 m.

The highest grades were reported from blast faces 1040E and 1031E that graded 19.4 g/t Au over 3.1 m, including 24.1 g/t Au over 1.8 m; and 12.0 g/t Au over 3.2 m, including 21.8 g/t Au over 1.5 m respectively.

Individual channel samples ranged from below detection limit to as high as 33.2 g/t Au over 1.2 m (4 feet).

The channel samples disclosed were sourced directly from geological maps of the advancing drift faces on official Tenneco stationary. The assay certificates are unavailable and as such the sample analysis methodology or the quality control measures are not documented. The channel samples reported range up to 1.3 m (4 feet), the drift faces have been sampled in their entirety and it is apparent that overlapping channel samples for duplication and quality control was the prescribed practice. The portal providing access to the underground workings has been closed and precludes entry for sample verification, and until such time as reopening of the portal is warranted, sample verification cannot be conducted. A qualified person from Getchell, considers that the quality of the work, the established standing of the operator and the support that drill hole intersections in proximity to the underground workings, which reflect similar grades, regards the channel samples disclosed as suitable for their current use.

The Tenneco underground drift is located 75 m below the surface expression of the Half Moon shear vein and the deepest drill intersection of gold mineralization below the drift is an additional 300 m. This translates into a known vertical extent of gold mineralization in this locale of 375 m that remains open to depth and represent another example of the robust expression and considerable extent of the gold mineralizing system at Fondaway Canyon.

The widespread gold mineralization reported and observed at or near surface, and the distinct high-grade zones as shown at Half Moon, support the Company assessing the Project's potential for both bulk tonnage and underground mining.

The Company is currently planning for the 2020 drill program at Fondaway Canyon and has provided Boart Longyear with a cash deposit to ensure rig availability for late July and August.

A 2017 Technical Report on the Fondaway Canyon Project, authored by Techbase International Ltd., reported a historical estimate of Indicated resources of 409,000 oz. Au contained in 2,050,000 tonnes grading 6.18 g/t and Inferred resources of 660,000 oz. Au contained in 3,200,000 tonnes grading 6.4 g/t, using a 1.8 m width cut-off and a cut-off grade of 3.43 g/t Au.