GSK:CC - GOLDSEEK Intersects 3.1 G/T Gold Over 6.5 Metres at Beschefer

(TheNewswire)

Highlights:

• 3.1g/t gold over 6.5 metre s, including 4.92 g/t gold over 2.8 metres in BE-22-22 , which successfully confirms thecontinuity of the East Zone to the northeast

• 1.76 g/t gold over 9.65metres in BE-22-24 on the eastern strike extension ofthe East Zone

• Full gold results from 13 holes completed duringGoldseek’s 3,840-metre program

• 12 of 13 holes returned gold values supporting thecontinuity of the B14 gold-bearing structure

May 18, 2022 – TheNewswire - London, Ontario – Goldseek Resources Inc. ( CSE:GSK) (FSE:4KG) (“Goldseek” or the“ Company ”) is pleased to announce full gold results from its winterdrill program at the Beschefer Project. BE-22-22 intersected 3.1 g/t Au over 6.5 metres, including 4.92 g/t Au over 2.8 metres , successfullyextending the East Zone 30 metres to the east. BE-22-24 was asuccessful extension hole with 1.76 g/t Au over 9.65 metres on the easternstrike extent of the East Zone. The BescheferProject is located approximately 30 kilometres southwest of WallbridgeMining Company Limited’s (“Wallbridge”) Fenelon Gold Project. OnMarch 3 rd, 2021, the Company entered into an option agreement on theBeschefer Project to earn 100% over 4 years from Wallbridge ( see news release datedMarch 3, 2021 ).

Goldseek's President & CEO Jon Deluce states, “We are very excited to announce the full goldresults from our winter drill program. We continue to outline thestrong continuity and expansion potential at Beschefer. At the easternmargin of our drill grid, we identified wide low-grade intervalsassociated with strong alteration and brecciation, which areconsidered proximity indicators for the next potential high-grade goldshoot.

We are planning a follow-up drill program this summerand geophysics to better investigate the location of additionalhigh-grade gold shoots cross-cutting the main northeasttrend.”

The Beschefer Project is positioned on a kilometricsection of the B14 shear system hosted in the Brouillan volcanicformation. The northeast shallow dipping structure was discoveredduring the nineties, 12km east of the former Selbaie Mine following abase metal targeting program. The gold-bearing structure is open tothe east on the property over a strike length of approximately 2km.

This drill program successfully extended the knownmineralized lenses: Central Shallow Zone, East Zone, and EasternExtension, between a vertical depth of 175 and 350 metres. Thefollowing results were successful in extending the northeastgold-bearing trend over approximately 200 metres.

East Zone

BE-22-22 wasdrilled at close range east of the central East Zone section at around275 metres vertical depth. This hole intercepted 3.1 g/t Au over 6.5 metres, including 4.92 g/tAu over 2.8 metres in an albitized shear zone atthe hanging wall of the B14 structure and hosted about 5% ofdisseminated pyrite.

BE-22-27: wasdrilled at close range east of the central East Zone section tointercept the up-dip extension at about 200 metres vertical depth.This hole intercepted 1.52 g/tAu over 6.45 metres , higher grades were obtainedfrom narrow quartz-pyrite bands concordant to the strong deformationfabric.

East Zone Extension

BE-22-24 wasdrilled to test the eastern strike extension of the East Zone to linkthe Zone with BE-21-14. This hole intercepted 1.76 g/t Au over 9.65metres , including 2.79 g/t Au over 5.2 metres hosted in a strongly feldspathized and brecciated unit.Rarely seen in the area, more than half of the mineralized intervalcorresponds to a brecciated gold-bearing quartz vein which ran againstthe alteration zone. According to the Leapfrog model, BE-22-24reinforces a northeast mineralized trend, which can be interpretedover about 100 metres. Hole BE-22-23 was drilled more than 80 metres downdip. The low-grade interval of 0.52 g/t Au over 10.5 metres supports thedown-dip extension potential of the gold system.

BE-22-17 and BE-22-25 targeted the extension of the mineralized system pasthistorical drilling and up to 50 metres east of BE-21-14 to support astrong northeast gold trend. Both holes have intersected a strongshear zone evolving to a tectonic breccia over 30 metres. Mineralizedintervals of respectively 0.6g/t Au over 15.5 metres (including 1.1 g/t over5m) and 0.81 g/t Au over 1.15metres are related to massive albite-ankeritealteration overprinting integrally volcanic texture of the host rockdeveloped against the B14 ductile shear zone. Disseminated pyrite isobserved in minor amounts through the entire unit.

FIGURE 1 – BESCHEFER LONG SECTION

Click Image To View Full Size

COMPLETE GOLD RESULTS FROM WINTERPROGRAM

* Stated lengths are core lengths as drilled. Truewidths are estimated to be between 85% and100% of reported core length intervals.

** Announced April 6, 2022

The program was carried out under the supervision of Martin Demers,P.Geo and a consultant for Goldseek Resources, the qualified personresponsible for this news release. The field program was run by SLExploration with drill core split at the Technominex facility inRouyn-Noranda. Samples for assaying were sent to AGAT Laboratories forfire assays with an AA and gravimetric finish. Whole metallic assaysare performed on samples greater than 10 g/t gold and samplescontaining visible gold. Duplicates, standards and blanks wereinserted into the sample stream.

About the Beschefer Project:

• Advanced gold exploration project with significantnear-term resource potential

• Located in a favourable orogenic gold setting 45 kmnortheast of the Casa Berardi Mine and 30 km southwest ofWallbridge’s Fenelon Gold Project.

• Highlights of the best intersections include 4.92 g/t gold over 28.65metres in hole BE-21-02 (including 11.39 g/t over 9.1m ), 55.63 g/t goldover 5.57 metres in hole BE13-038 ( including 224 g/t over 1.23m ; 13.95 g/tover 0.68m and 13.70 g/t over 0.73m ), 13.07 g/t gold over 8.75metres in hole B12-014 ( including 58.5 g/t over 1.5m ), 3.56 g/t gold over28.4 metres in hole B14-006 ( including 7.42 g/t over 5.5m ), and 10.28 g/t goldover 8.00 metres in hole B14-35 ( including 86.74 g/t over 0.60m ). True width in these sections vary between 89% and 99% ofthe intercepted width.

• The mineralization shows high-grade gold-bearingstructures hosted in a lower grade envelope, highlighting the regionalpotential along the already defined shear zones on theProperty.

Qualified Person

This press release was reviewed and approved by Martin Demers,P.Geo,ogq No 770, who is a qualified person as defined under NationalInstrument 43-101, and responsible for the technical informationprovided in this news release.

ON BEHALF OF THE BOARD

Jonathon Deluce

Chief Executive Officer

Telephone: 226-271-5170

For more information, pleasecontact:

Goldseek Resources Inc.

E-mail: goldseekresources@gmail.com

The reader is invited to visit Goldseek's web site https://www.goldseekresources.com/

Neither the Canadian SecuritiesExchange nor its Regulation Services Provider accepts responsibilityfor the adequacy or accuracy of this release.

This news release contains certainstatements that may be deemed “forward-looking statements” withrespect to the Company within the meaning of applicable securitieslaws, including statements with respect to the Company’s futureplans of Beschefer. Forward-looking statements are statements that arenot historical facts and are generally, but not always, identified bythe words “expects”, “plans”, “anticipates”,“believes”, “intends”, “estimates”, “projects”,“potential” and similar expressions, or that events or conditions“will”, “would”, “may”, “could” or “should” occur.Although the Company believes the expectations expressed in suchforward-looking statements are based on reasonable assumptions, suchstatements are not guarantees of future performance, are subject torisks and uncertainties, and actual results or realities may differmaterially from those in the forward-looking statements. Such materialrisks and uncertainties include, but are not limited to, theCompany’s ability to obtain all requisite approvals, includingapproval of the Canadian Securities Exchange and securities regulatoryauthorities, if required for a transaction or financing, theCompany’s ability to raise sufficient capital to fund itsobligations under its property agreements going forward, to maintainits mineral tenures andconcessions in good standing, to explore and develop Beschefer or itsother projects and for general working capital purposes, changes ineconomic conditions or financial markets, the inherent hazardsassociates with mineral exploration, changes in general economicconditions, the ability of the Company to obtain the necessary permitsand consents required to explore, drill and develop its projects andif obtained, to obtain such permits and consents in a timely fashionrelative to the Company’s plans and business objectives for theprojects, changes in environmental and other laws or regulations thatcould have an impact on the Company’s operations, compliance withenvironmental laws and regulations, aboriginal title claims and rightsto consultation and accommodation, dependence on key managementpersonnel and general competition in the mining industry.Forward-looking statements are based on the reasonable beliefs,estimates and opinions of the Company’s management on the date thestatements are made. Except as required by law, the Company undertakesno obligation to update these forward-looking statements in the eventthat management’s beliefs, estimates or opinions, or other factors,should change.

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