First Hole 2021 Drill Program At The Breccia Gold Property

VANCOUVER - Ophir Gold Corp. has collared the first drill hole of its maiden 2021 diamond drill program at the Breccia Gold Property, where it holds an option to earn 100% interest. The Property is located approximately 40 km southwest of Salmon, Idaho, and may be accessed directly by road. The 3,200-meter drill program at the Property marks the first documented drilling to follow-up the significant gold mineralization in the two drill holes described by Groves in 1985. Although specific details from this historical drilling are no longer accessible, Groves described an approximate 30 m interval of gold mineralization consistent with surface results.

The Company's initial series of drill holes will aim to confirm the historically reported results of Groves (1985) and provide further details on the geometry of the Breccia Gold Zone. The program will include several holes to test beneath the interpreted site of the historical (1987) 200 ft open-cut bulk sample where approximately 4,600 tons of material were reported to average in excess of 10 g/t Au; and test at depth the high-grade mineralized vein system discovered in 2020, with grab samples assays of 57.6 g/t Au and 19.6 g/t Ag.

"Collaring of the first drill hole by Ophir at the Breccia Gold Property is a clear milestone," said, Shawn Westcott, Chief Executive Officer and a Director. "Through diligent communication and navigation of the permitting process by our consultants, the Company is now positioned to capitalize on the excellent potential at the Breccia Gold Property as is evident from the significant mineralization discovered through surface sampling and as indicated from the historical 1980's drilling."

The target exploration model at the Property is a low-sulphidation epithermal system, which is supported by coincident anomalous geochemistry (Au, Ag, As, Sb) with lack of base metals, presence of bladed quartz replacing calcite, and sheeted veins. Collectively, these features suggest a very low level of erosion and strong potential for significant gold mineralization at depth.

The Company is fully permitted for up to 45,900 ft (~13,900 m) of diamond drilling on the Property with the initial spring/summer program anticipated to consist of at least 10,500 ft (~3,200 m).

Although relevant, the Company cautions that the historical information presented above was completed prior to the implementation of National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") requirements, and therefore provides an indication of the exploration potential of the Property but may not necessarily be representative of expected results from drilling carried out by Ophir.