DGO:CC - Durango Extends Lithium Mineralization at Discovery

(TheNewswire)

Vancouver, BC - TheNewswire - March31, 2023 – Durango Resources Inc. (TSXV:DGO) (Frankfurt:86A1)(OTC:ATOXF), (the “ Company ” or“ Durango ”) announces that further to the news of December 12, 2022,the Company is pleased to announce it has received additional partialresults from its Discovery drill program completed in 2022 located inthe Abitibi Greenstone belt of Quebec.

While drilling in 2022, the Company intersectedpegmatite pods below surface ranging at drillhole depths as shallow as18.8m in hole 2 to as deep as 334.6m in hole 6. Pegmatite pods wereintersected in every hole. On December 12, 2022, Durango reported elevated lithium, rubidium and cesium levelswere intersected in holes 1, 2 and 4. Lithium-bearing pegmatite podswere intersected in each of the drill holes and assayed values up to748 parts per million (ppm) lithium, 3,830 ppm rubidium and 436 ppmcesium. All drillholes are dipping at 45 degreeswith an azimuth of 360 or 340 degrees.

Durango has received additional partial assay resultsfor hole 3 which is 100m away from hole 2 which reported the 748ppmlithium as per above. The pegmatite was intercepted at a downholedepth of 72m to 109m and returned values of 412ppm lithium, 3,340ppmrubidium and 360ppm cesium including an average of 233ppm lithium over4m from 108m-112m downhole depth. These enriched zones were found ashaloes surrounding the pegmatite dykes. Anomalous cobalt of up to53.6ppm was detected and seems to be associated with elevated vanadiumvalues of up to 354ppm, tantalum of up to 57.6ppm and copper of up to1,210ppm. Cerium, lanthanum, and neodymium levels also returnedelevated levels. Twenty eight percent of the samples assayed returnedlithium values greater than 100ppm as outlined in the table excerptbelow:

Ten pegmatite dikes were mapped at surface in 2022 overa relatively small area of the property with exposed lengths rangingfrom a few metres to 55 metres. None of the newly mapped dykes havebeen tested for lithium.

Melanie Mackay, P.Geo of Durango stated, “the resultsto date at the Discovery Property are significant for Durango as theenriched haloes surrounding the pegmatites show that the pegmatiteshave carried lithium which bodes well for lithium exploration in someof our larger dykes on the property. ”

The Company is coordinating field teams to conductfurther mapping and rock sampling on the property which will beundertaken once the snow clears on the Property. Multiple otherpegmatite pods were mapped at surface during thelate summer program conducted in 2022 but were not investigated forlithium potential. The Discovery Property hasnever been explored for lithium. Much of the delays for the assays aredue to the additional analysis performed due to the discovery oflithium and rare earth potential on the property after the first setof drill results.

Marcy Kiesman, CEO of Durango stated, “the lithiumhaloes surrounding the pegmatites are exciting at Discovery and wewill investigate the remaining pegmatites as lithium is quickly risingto new levels of importance on a global scale. With the Discoveryproperty hosting gold in surface outcrops in addition to lithiumbearing pegmatites, Durango is in a great position to expandshareholder value.”

The Discovery Property is in the highly prospectiveJames Bay Territory, 100km north of Chibougamau, Québec in theFrotet-Evans greenstone belt. In July of 2022, Durango completed an exploration drill campaign in an areawith known gold anomalies at surface. To date, partial results havecome in for holes 1, 2, 3 and 4. Lithium-bearing pegmatite pods wereintersected in each of the drill holes which led to the corporatedecision to invite additional expertise to the technical committee asannounced on December 15 th , 2022. Durango is still waiting onadditional assay results for some pegmatite pod intersections and willannounce them as soon as they become available.

About Discovery

The Discovery Property is located on strike to thesouthwest of the past producing Troilus gold mine and neighboursTroilus Gold Corp. (TSX-TLG). The Discovery Property is over 6,500hain size and covers an important geological northeast to southwestregional structure. The Discovery Property has great road access andis accessible year-round via the Route du Nord.

About NMX East

The NMX East Property is located on northern Québec along the RouteNord and situated beside Nemaska Lithium’s Whabouchi Deposit whichis considered to be the world’s second richest and biggest depositwith 27Mt of proven and probable reserves.

About Durango

Durango is a natural resources company engaged in theacquisition and exploration of mineral properties. The Company ispositioned for discovery with a 100% interest in a strategicallylocated group of properties in the Troilus gold camp and in theWindfall Lake gold camp in the Abitibi region of Québec ,Canada.

For further information on Durango, please refer to itsSEDAR profile at www.sedar.com .

Marcy Kiesman, CEO

Telephone: 604.428.2900 or 604.339.2243

Email: durangoresourcesinc@gmail.com

Website: www.durangoresourcesinc.com

Forward-Looking Statements

This news release contains “forward?lookinginformation or statements” within the meaning of applicablesecurities laws, which may include, without limitation, statementsthat address the upcoming work programs, and other statements relatingto the business, financial and technical prospects of the Company. Allstatements in this news release, other than statements of historicalfacts, that address events or developments that the Company expects tooccur, are forward-looking statements. Although the Company believesthe expectations expressed in such forward-looking statements arebased on reasonable assumptions, such statements are not guarantees offuture performance and actual results may differ materially from thosein the forward-looking statements.

Such statements and information are based on numerousassumptions regarding present and future business strategies and theenvironment in which the Company will operate in the future, includingthe price of minerals, the ability to achieve its goals, the COVID-19pandemic, that general business and economic conditions will not change in a material adverse manner, thatfinancing will be available if and when needed and on reasonableterms. Such forward-looking information reflects the Company’s viewswith respect to future events and is subject to risks, uncertaintiesand assumptions, including those filed under the Company’s profileon SEDAR at www.sedar.com . Factors that couldcause actual results to differ materially from those in forwardlooking statements include, but are not limited to, continuedavailability of capital and financing and general economic, market orbusiness conditions. The Company does not undertake to updateforward?looking statements or forward?looking information, exceptas required by law.

Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.

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