Results From Initial Drill Holes At The Glenfine Project

VANCOUVER - Outback Goldfields Corp. announced initial results from its ongoing and fully-funded drill program on its Glenfine project, central Victoria, Australia. Assays from three of the eleven completed holes are reported.

"The assay results from the initial drill holes represent an exciting first step in evaluating a significant corridor of prospective geology between the Reef 2 and Glenfine South prospects at Glenfine. Two of these holes tested for the up-dip and down-dip extensions of gold mineralization at the northern end of Reef 2 and confirm strong grade continuity. Two drills are currently in operation along this trend. We look forward to keeping our shareholders informed on our progress as more assays are received," said, Chris Donaldson, CEO.

Highlights: Results demonstrate strong continuity of vein-hosted gold mineralization over 100 meters down-dip in Reef 2: 17.3 meters at 2.66 grams per tone (g/t) gold including 1.30 meters at 10.65 g/t gold and 0.8 m at 9.31 g/t gold (OGA0005); Visible Gold observed in OGA0005 at 148.5m down hole; 5.1 meters at 2.90 g/t gold including 0.3 meters at 15.02 g/t gold (OGA0004); and Two drills are currently in operation testing targets along the prospective Reef 2 to Glenfine South corridor.

Drill Program

The current exploration drill program at Glenfine is focused on targeting high-grade, quartz reef-hosted gold mineralization (see news release dated May 3, 2021). The first target was the southern extent of a ~400 meter north-south trending corridor of prospective geology between, and along, strike from the historic Glenfine South mine and the southern Reef 2 prospects. Eleven diamond drill holes have so far tested for mineralization continuity of vein-hosted mineralization along this prospective corridor.

The Glenfine project is centered on a 30 km section of the north-trending, crustal-scale Avoca fault which juxtaposes Cambrian rocks of the Stawell zone to the west with Ordovician rocks of the Bendigo zone to the east. On the west side of the fault the property is underlain by a 20 km long by ~1 km wide, north-trending, Cambrian aged basalt dome termed the Glenfine Dome where widely spaced historic drilling along its eastern and western margins have outlined numerous occurrences of gold mineralization hosted near the basalt and meta-sediment contact. Previous exploration drilling intersected numerous intervals of significant gold mineralization at both target areas, such as 3.8 meters of 9.0 grams per tonne (g/t) Au with 1.3 meters of 23.4 g/t Au in hole CCD01 at British Banner and 3.8 meters of 5.7 g/t Au with 0.8 meters of 21.0 g/t Au in hole PFD031 at Glenfine.