Gold Resource Expansion And New Discovery Program

VANCOUVER - New Placer Dome Gold Corp. reported plans for the 2021 resource expansion and new discovery program at its flagship Kinsley Mountain Gold Project in Nevada. Building on its successful 2020 campaign, the 2021 Kinsley Mountain exploration program will, subject to the Company raising sufficient funds, comprise resource expansion and new target drilling on three new discoveries, and a significantly expanded program of IP/resistivity geophysical surveys.

Kinsley Mountain is located 90 km south of the Long Canyon Mine1, operated by Nevada Gold Mines. It hosts Carlin-style gold mineralization under and adjacent to a historical open-pit, run-of-mine heap leach operation, and hosts an Indicated Resource at the Western Flank Zone (WFZ) of 302,000 ounces of gold grading 6.11 g/t Au (1.54 million tonnes).

The 2020 Kinsley Mountain reverse circulation (RC) and diamond drill campaign comprised 49 drill holes totaling 17,970 meters and tested five targets within the greater Resource area. To date, only 20% of Kinsley Mountain has been drill tested. Exploration drilling during 2021 is expected to build on new discoveries and expand the current indicated and inferred resource at the Western Flank Zone, Main Pit North Oxide and Secret Spot targets.

IP/resistivity geophysical surveys competed during 2020 at the WFZ and Shale Saddle target areas show a correlation between chargeability and drill confirmed high grade gold sulphide mineralization. Expanded infill IP/resistivity geophysical surveys for 2021 will extend south to the Secret Spot target and north to frontier areas of the under-explored Kinsley North. At Kinsley North detailed soil geochemical surveys reveal broad arsenic in soil anomalies coincident with north-trending normal and low angle detachment faults coincident with the prospective Pogonip-Notch Peak contact and Dunderberg shale rocks at depth cut by late northwest trending structures that are important gold mineralization hosts within the Kinsley resource area.