Northeast Offset Target VMS-Style Mineralization At Johnson Tract Project

VANCOUVER - HighGold Mining Inc. reported new assay results from the 2020 exploration drilling program at its flagship Johnson Tract polymetallic Gold Project in Southcentral Alaska. Results reported today include intersections from two drill holes at the Northeast Offset (NE Offset or NEO) Target from the southernmost of three drill cross-sections completed during the 2020 field season. Assays remain outstanding for 10 drill holes and will be released in batches as they are received and evaluated.

Drill Highlights: 7.8 meters at 6.1% Zn, 1.6% Pb, 0.2% Cu, 0.7 g/t Au, 36 g/t Ag (9.8% ZnEq), including 3.9 meters at 9.1% Zn, 2.3% Pb, 0.3% Cu, 0.8 g/t Au, 47 g/t Ag (14.0% ZnEq) in hole JT20-114; and 2.0 meters at 13.2% Zn, 0.6% Cu, 0.3 g/t Au, 5 g/t Ag (15.4% ZnEq), including 1.0 meter at 19.4% Zn, 1.1% Cu, 0.5 g/t Au, 9 g/t Ag (23.0% ZnEq) in hole JT20-112. Results highlight several important developments at Johnson Tract, including: Identification of new VMS-style mineralization at NEO in hole JT20-114; Recognition that mineralization is far more widespread between the JT Deposit and NEO within the prospective Dacite Tuff stratigraphy than previously understood; and The alteration and mineralization at NEO itself does not represent the fault-displaced equivalent of the JT Deposit as previously thought, but instead, it is a second distinct zone of mineralization located on the same western side of the Dacite Fault as the JT Deposit.

“These advancements in our understanding of the Johnson Tract geology represent a significant turning point for the Project as they highlight the potential for mineralization anywhere within the key Dacite Tuff host stratigraphy northeast of the JT Deposit,” said, President and CEO, Darwin Green. “Equally important, it means that the 2020 NEO drilling was centered too far to the west and the true target for the fault displaced offset of the main deposit still lies farther to the east. Drilling of this more easterly target in 2021 will focus along a 600m long gap between the main JT Deposit and NEO, which has, as yet, been subject to little to no testing. This refined offset target is in addition to JT Deposit expansion targets (building on the success of 2020), other Dacite Tuff hosted targets including the new VMS-style mineralization, and new discovery-focused regional prospect targets, all of which will be drill tested in 2021.”

The 2020 Drill Program totaled 16,418 meters in 32 completed drill holes. Assays remain outstanding for 10 drill holes and will be released in batches as they are received and evaluated. The Au-Cu-Zn-Ag-Pb mineralization associated with the JT Deposit has been intersected over a strike length of 325 meters and a down-plunge distance of 400 meters and remains open for expansion along strike to the northeast and southwest, and at depth.