Results Of First New Drill Holes From Dugbe F

TORONTO -  Pasofino Gold Limited reported that Hummingbird Resources (Liberia) Inc. received results for seven infill holes, these being the first to be drilled at the Dugbe F deposit since 2014. Highlights - Dugbe F Infill drilling - All 7 of the new drillholes intersected gold mineralization of the expected range of thickness and grade. Gold bearing intersections being up to 26.7 meters in thickness. These are the first holes drilled at Dugbe F since 2014. The holes support the continuity of the deposit. Intersections of the flat to gently undulating layer include: 26.7 meters at 1.44 g/t gold from 86.9 meters in DFDC338, 10.0 meters at 1.48 g/t gold from 67.9 meters in DFDC335, 14.6 meters at 1.30 g/t gold from 102.0 meters in DFDC335, 4.1 meters at 2.17 g/t gold from 16.9 meters in DFDC334. The current 'infill drilling' is aimed at 'upgrading' the Inferred Mineral Resource Estimate with the objective of achieving an Indicated Mineral Resource of between 0.6 and 1.0 M ounces. The current Indicated Mineral Resource Estimate for Dugbe F is 5.8 Mt with an average grade of 1.46 g/t Au containing 273 k oz gold. The current Inferred Mineral Resource Estimate is 16.3 Mt with an average grade of 1.57 g/t Au containing 823 k oz of gold. Additional shallow mineralized intervals are present above the main zone within the southern part of the deposit and have the potential to add to the resource as this mineralization was not part of the most recent Mineral Resource Estimate.

Ian Stalker, CEO, said, "These intersections and the rate at which we are progressing the drilling puts us on track to achieve our target of a 0.6 to 1.0 M ounces in the Indicated Category at Dugbe F, which would bring the project total closer to 3 Moz in the Indicated Category. We have 3 rigs turning 24/7 now and are completing 8 to 10 holes per week. Two rigs will move over to the larger Tuzon deposit as soon as access is ready."