Toronto, Ontario – July 26, 2022 – Mistango River Resources Inc. ("Mistango" or the "Company") (MIS:CSE) is pleased to report multiple gold intercepts at its Omega Gold Project, including one that yielded 13.83g/t Au over 1 meter in hole OMG22-006. Mistango will follow up on these gold intercepts at the Omega Gold Project in a subsequent drill program. The Company is also expected to resume drilling at its flagship Kirkland Lake West project located adjacent to Agnico Eagle Mines Limited's Macassa Mine in Kirkland Lake, Ontario.
Details on Gold Intercepts of Omega's 2022 Drill Program:
The winter program at Omega yielded results of 13.83g/t Au in hole OMG22-003 at 33 to 34 meters and several 1 to 2-g/t intercepts in holes OMG002-001, OMG22-002, OMG22-003 and OMG22-004.
The following are details of the key Diamond Drill Hole intercepts:
Mistango is planning to follow up this program at Omega to expand the known high-grade zones and test for additional gold zones. Mistango will seek to drill five 500-meter holes in the Southwest Extension. This area was not part of the winter program due to permitting challenges, which have since been resolved. This round of drilling will test beneath previous high-grade intercepts on Omega.
About Omega Gold Project
The Omega Project is located in McVittie Township, Ontario, adjacent to the town of Larder Lake. The Project includes a segment of the regional-scale Larder Cadillac Faut Zone that is an important controlling structure for gold mineralization at Orefinders Resources' McGarry Project, located about 8 kilometers to the east of Omega and at the former Kerr-Addison Mine (about 12 Moz Au total production) that is located 12 kilometers to the east of Omega.
The Omega Project consists of two adjacent and contiguous blocks of properties; one block that includes the Omega Mine Resource and another block to the southwest of the mine properties that is referred to as the Southwest Zone. The Omega Mine historically produced gold during two periods, first in the 1920's and again from 1935 to 1947. The Project benefits from access via all-season roads, access to an electrical power grid, and its location within a large and active gold mining district.
Follow Up on 86.2g/t Gold Intersection on its Kirkland West Project:
Preparation for a new drill program on Mistango's Kirkland Lake West Project is set to begin. This program will follow up on January's 86.2g/t Au intercept in hole BAL21-024 at 922.81 to 923.31 meters. The plan is to wedge off of hole BAL22-025 and to test the mineralization 100 meters below and 100 metres east and west of the most recent high grade intercept. Mistango will also drill unfinished drill holes from the Winter drill program into the same geophysical anomaly. Lastly, the team will drill beneath BAL21-021 as the grade appears to increase with depth. The Company hopes that this drill program will test the continuity of mineralization from the adjacent Macassa mine to Mistango's Kirkland Lake West mine.
About the Kirkland Lake West Project
The Kirkland West Project is adjacent to Agnico Eagle Mines Limited (AEM:TSX) Macassa Mine and includes two main zones, the Baldwin Zone and the Eby Zone that are distinguished by different geological settings. The Baldwin Zone includes land holdings in the western Teck, Grenfell and Eby townships and shares a similar geological setting with the Kirkland Lake mining camp. The Eby Zone is 3 km to the southwest within Eby township and features a geological environment that is somewhat distinct from the Baldwin Zone and that is considered to be highly prospective.
Drilling and Explorations Plans for 2023
As a part of Mistango's $60 million strategic partnership with Agnico Eagle Mines Limited, Mistango is preparing its exploration and drill budgets for 2023. Details on the expected meterage and specific project plans to be released once finalized.
The technical information in this news release has been reviewed and approved by Jared Beebe, P.Geo., a Qualified Person as defined in "National Instrument 43-101 – Standards of Disclosure for Mineral Projects."
About Mistango River Resources Inc.
Mistango is a Canadian-based exploration and development company focused on its Kirkland Lake West and Omega projects in the Kirkland Lake District of Ontario's Abitibi Greenstone Belt. The Company is listed on the Canadian Securities Exchange (CSE) under the symbol MIS.
Agnico Eagle Mines Limited (TSX: AEM) holds an option to acquire up to a 75% interest in Mistango's Kirkland West and Omega projects (the "Projects") in exchange for spending $60 million on the Projects.
Neither Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Mistango assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Mistango. Additional information identifying risks and uncertainties is contained in filings by Mistango with Canadian securities regulators, which filings are available under Mistango profile at www.sedar.com.
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To Speak to the Company directly, please contact:
Stephen Stewart, Chief Executive Officer