Pacton Outlines Upcoming Drilling Activity At Red Lake Gold Projects

VANCOUVER - Pacton Gold Inc. reported on exploration activity at its Red Lake and Sidace gold projects in the Red Lake gold district in Ontario, Canada. Drilling commenced at both projects in Q4, 2020 with 10,000 m and 11,500 m programs respectively, and the Company is currently preparing for the following activity: 2021 Red Lake Project Exploration - Phase I Drilling. Completion of ongoing 10,000 m greenfield drill program. Assays from initial holes are pending; Phase II Target Development. Analyze 2020 geophysics and sampling data (expected to be received in Q1 2021). Commence property-wide surface exploration program with particular focus on anomalies identified by surveys during 2020; Phase II Drilling; and Undertake follow up drilling based on new target development and the results of Phase I drilling. 2021 Sidace Project (Red Lake) Exploration - Phase II Drilling. Commence drill testing of western extension of Upper Duck and Main Discovery zones; and Phase III Drilling. Commence drill testing of northeast plunging mineralization at the Anderson zone; Analysis and Evaluate Follow up Drilling. Evaluate results of 2020/2021 drilling and develop next phase of exploration.

Nav Dhaliwal, Interim President and CEO, said, "During 2021, Pacton will continue accelerating exploration activity at our greenfield and our advanced gold exploration projects in Ontario's Red Lake gold rush. We currently have two drill rigs in operation and are awaiting assays from initial holes, as well as final results from multiple surveys. All of this anticipated data will be key as we look to finalize the next round of drill targets for follow up in the coming months."

2020 Exploration Highlights: Red Lake Project - Completion of 8,200 m 2019/2020 reconnaissance drill program; Intersection of Near Surface Gold Mineralization at Carricona and Madsen-Dixie Corridor targets including 17.2 g/t Au over 0.5 m; Initiation of 10,000 m greenfield exploration drill program to follow up on encouraging results from 2019/2020 reconnaissance drilling and new targets identified from geophysics, artificial intelligence and 2020 surface sampling data; and Completion of four distinct geophysics surveys (including magnetics, induced polarization (IP), seismic and VLF-EM) and a property-wide surface exploration campaign (including geological mapping, sampling, prospecting and soil geochemistry). Sidace Project (Red Lake) - Acquisition of joint venture interest in the advanced Sidace gold project in Red Lake. Pacton entered into a joint venture with Evolution Mining, the senior producer in the district; Approval and initiation of 11,500 m expansion drill program. Pacton is the current operator at the Sidace project; and Completion of Phase I drilling. The initial holes at Sidace targeted the extension of mineralization at the Main Discovery zone and were completed in December 2020. Results from Phase I drilling will be reported as they are received from the lab.

Pacton completed a property-wide surface exploration program from Spring through Fall 2020. The campaign included geological mapping, sampling, prospecting and soil geochemistry. More than 1,400 soil samples were collected at select target grids on the property and surface exploration teams were deployed to all of Pacton's Red Lake property blocks. These campaigns were conducted by Pacton geologists in combination with APEX Geoscience Ltd. and GoldSpot Discoveries. The surface teams completed the program at the end of October 2020 and final results are expected from the lab by the end of this month.

The Company completed multiple geophysical surveys at the Red Lake project in 2020. A high-resolution helicopter magnetics survey was conducted at Gullrock, Pakwash, Dixie and Golden Loon properties. Results from the magnetics survey highlight new areas of interest and enhanced the definition of existing targets. An IP survey totaling 52 line km was completed by the Company on the property in the Madsen-Dixie Corridor. The IP survey identified multiple chargeability and resistivity anomalies in the vicinity of structures associated with the LP Extension, a regional-scale structure with more than 6 km of strike length underlaying Pacton's Red Lake property. Further exploration work is warranted along the LP Extension and associated structures to prioritize target areas for drilling.

The Company initiated an airborne horizontal magnetic gradient and matrix VLF-EM resistivity survey throughout the 28,000 ha Red Lake property. Results from the survey will aid in target definition and exploration through the identification of faults, shear zones, folding and alteration zones. Final results from the recent survey are anticipated in Q1 2021.

A 2D seismic survey was designed and conducted by Pure Gold Mining Inc. (PGM: TSX-V) on Pacton's property in the vicinity of the Madsen Mine. The survey included 13 km of seismic data over Pacton's claims and increased access to several target areas throughout the central property. Pacton received preliminary data from the seismic survey in late December 2020. Final data is anticipated in early 2021 and is expected to provide enhanced definition of structural controls for drill targeting at Pacton's Red Lake property.