Four Drill Holes Completed At Alpha Zone

VANCOUVER - Contact Gold Corp. reported results for 4 drill holes completed at the Alpha Zone during the 2020 drill program at the Green Springs gold property. Drill Highlights: 0.69 g/t Au over 48.77 meters from a depth of 38.1 meters in hole GS20-21, and Including 1.15 g/t Au over 22.86 m; 1.45 g/t Au over 39.63 m from a depth of 25.91 m in hole GS20-22, and Including 2.09 g/t Au over 21.34 meters. Key Points: Contact Gold's drilling at Alpha continues to intersect thick intervals of gold mineralization hosted within the Pilot Shale; Gold mineralization at Alpha is variably oxidized with cyanide solubility ratios ranging from 20 to 90%; Alpha remains open for expansion in all directions and sits on the same northeast structure linking Bravo to Alpha and Tango; Alpha is located 1 km to the northeast of Bravo, and 750 m to the SW of Tango.

The Alpha Zone is the northernmost zone of gold mineralization identified at Green Springs to date, and was discovered by drilling in the 1980's. It is hosted in the Pilot Shale in an area of structural complexity along a northeast striking fault extending from the Bravo Zone. A broken anticline/syncline also exhibits control on gold mineralization, and this structural setting extends northeastward to the undrilled Tango Target that Contact will be drill testing in the spring of 2021. Gold mineralization at Alpha is near surface and variably oxidized, similar to that mined at Kinross's Vantage (Alligator Ridge) mine located to the north-northeast of Green Springs. Mineralization remains open in all directions.

"The Alpha Zone continues to deliver thick intervals of near-surface gold mineralization hosted within the Pilot Shale, a key host unit at Green Springs and at surrounding mines such as Pan and Alligator Ridge," said Vance Spalding, VP Exploration. "Our continued success at Bravo and Alpha, intersecting mostly well-oxidized, higher-than-average grade intercepts for Green Springs, has the team excited for our upcoming maiden drill program at the Tango Target; a large zone of outcropping gold mineralization hosted in the Pilot Shale that has never been drilled. Such an opportunity on trend is very rare these days."