(TheNewswire)
Vancouver, British Columbia - TheNewswire - November 10 th , 2021- Exploits Discovery Corp. (“Exploits” or the“Company”) (CSE:NFLD) (OTC: NFLDF )(FSE:634-FF) (CNSX:NFLD.CN) provides a summar y of drilling andexploration work in 2021 to date and reiterates its focus on the prospective Appleton F ault.
Exploits has completed 10,481 m of drilling since June 2021, 17,709line km of VTEM airborne surveys covering 1,699 km 2 ; conducted 8 discrete targetreviews with Goldspot Discoveries Corp (“Goldspot”) on Exploits’ground, and 10 discrete field prospecting programs. A review of tenurehas reiterated the Company’s focus on its 37 km (strike length) ofthe Appleton Fault. With this in mind, the Company has applied for 3new drill permits along the Appleton Fault located within the Dog Bayclaim group.
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- Exploits has completed 10,481 m of drilling across 3 of 5 currentlypermitted drill targets in the Exploits Subzone, Newfoundland.Building on our understanding from 2021, Exploits has initiatedpermitting for three additional targets along the interpreted Appletonfault on our Dog Bay claims.
- Phase II drilling at Schooner North/South has commenced andpreparation is underway for drilling at our Little Joanna target.
- Exploits has completed 17,709 line km of VTEM survey includingfull coverage of the interpreted Appleton Fault on northern claims.Quality geophysical data has proven to be critical to discovery on theAppleton Fault targets.
- On Oct 28 th Exploitsheld an internal symposium with the Company’s Advisory Board LeaderDr. David Groves regarding Orogenic gold exploration targeting, inaddition to reviewing and refining targets in the Exploits Subzone.
- The Company has drilling planned into the spring of 2022 and withapproximately $13 million in cash; and is well funded to aggressivelypursue these targets.
President and CEO Jeff Swinoga comments, “2021 to date has been avery busy and successful year in progressing our Exploits SubzoneProjects with drilling, surface exploration and airborne geophysics. It has also been frustrating, with a slow start to the drill programand long wait times for assays to be returned. As with any goldrush, the high volume of drilling activity has hit a logjam at thelabs, and, like our shareholders, we are disappointed to not have aconsistent stream of results to deliver following all the hard work byour team. That said, Exploits continues to make great progress onour projects in pursuit of discovery in 2021/22, with continuedfocus on the prospective Appleton Fault Zone.”
Project summaries:
Dog Bay Projects - Appleton Fault& Dog Bay Line
Drilled 13 drill holes totalling 2,235m at Quinlan Veins, fullairborne VTEM coverage, conducted 70 line km ground magnetics,collected 938 grab samples, conducted technical reviews with Goldspotand applied artificial intelligence along with technical review toidentify potential targets. Permitting three additional drill targets along the 18 km (strikelength) of the interpreted Appleton Fault that cuts through theDog Bay claims.
Great Bend - Appleton Fault & JoeBatts Pond Fault (JBP)
Partial VTEM coverage, which is expected to be complete in 2021. Focuson the 19 km southern extension ofthe interpreted Appleton Fault south of Eastern Pond where NewFound Gold is having exploration success.
Jonathan’s Pond - GRUB LineFault
Drilled 21 drill holes totalling 4,471 m of drilling at Jonathan’sPond ‘Main Vein’, full airborne VTEM coverage, conducted 82 linekm ground magnetics, collected 154 grab samples; 44 soil samples; 268chip/channel samples and conducted 2 technical reviews along withartificial intelligence with Goldspot.
Schooner - Schooner Fault
Drilled 10 drill holes totalling 3,775 m of drilling at SchoonerNorth, full VTEM airborne coverage, conducting 127 line km groundmagnetics, collected 4 grab samples; 104 soil samples, conductedartificial intelligence and technical reviews with Goldspot. Currentlydrilling Phase II program at Schooner North/South.
Little Joanna - Dog Bay Line Fault & Valentine Lake Fault Intersection
Permitting 6 first-pass drill holes and 1,800 m of drilling. Fullairborne VTEM coverage, conducted 84 line km ground magnetics andcollected 62 grab samples.
Mt. Peyton - Dog Bay Line
First pass prospecting on volcanogenic massive sulphide target, fullVTEM airborne coverage, new artificial intelligence and technicalreview with Goldspot and 26 grab samples. Identification of goldtargets on the Dog Bay line trend.
True Grit - GRUB Line Fault
Permitted for 9 drill holes totalling 2,700 m of drilling on the TrueGrit deposit, full VTEM airborne coverage, completed groundprospecting and conducted artificial Intelligence and technical reviewwith Goldspot to generate the new model and targets.
National Instrument 43-101 disclosure
Nick Ryan, P.Geo, is Senior Geologist for the company and qualifiedperson as defined by National Instrument 43-101. Mr. Ryan supervisedthe preparation of the technical information in this news release.
About Exploits Discovery Corp.
Exploits Discovery is a Canadian mineral exploration company focusedon the acquisition and development of mineral projects inNewfoundland, Canada. The Company currently holds the Jonathan'sPond, Dog Bay, Mt. Peyton, Middle Ridge, True Grit, Great Bend, andGazeebow projects covering approximately 2,000 square kilometres ofmineral tenements. The PB Hill projects syndicate covers an additionalarea of almost 2,000 square kilometres.
Exploits believes that the Exploits Subzone Gold Belt, which runs200 km from Dog Bay southwest to Bay d'Espoir, has been neglectedsince the last major exploration campaigns in the 1980s. The last 40years have seen incremental advancements in the understanding of goldmineralization in the camp. The sum of this knowledge is now comingtogether in discrete and effective exploration models that havedelivered results, including New Found Gold's 2019 discovery hole. TheExploits Subzone and GRUB regions have been the focus of major stakingand financing since late 2019.
The team at Exploits, with significant local experience and knowledge,have studied the entirety of the Exploits Subzone and surroundingregions. Our team has selected individual land packages for staking orjoint ventures, where we feel there are opportunities for world classdiscoveries and mine development.
With a local team and an advanced geologic understanding of the area,Exploits is one of the most extensive explorers in Newfoundland andspecifically, the Exploits Subzone.
ON BEHALF OF THE BOARD
/s/ "Jeff Swinoga"
President and CEO
For further information, pleasecontact:
Christopher Huggins, Director
(778) 819-2708
Neither the Canadian SecuritiesExchange nor its Regulation Service Provider (as the term is definedin the policies of the Canadian Securities Exchange) acceptsresponsibility for the adequacy of accuracy of this newsrelease.
Forward-Looking Statements
This news release contains certain forward-lookingstatements, which relate to future events or future performance andreflect management's current expectations and assumptions. Suchforward-looking statements reflect management's current beliefs andare based on assumptions made by and information currently availableto the Company. Readers are cautioned that these forward-lookingstatements are neither promises nor guarantees, and are subject torisks and uncertainties that may cause future results to differmaterially from those expected including, but not limited to, marketconditions, availability of financing, actual results of the Company'sexploration and other activities, environmental risks, future metalprices, operating risks, accidents, labor issues, delays in obtaininggovernmental approvals and permits, and other risks in the miningindustry. All the forward-looking statements made in this news releaseare qualified by these cautionary statements and those in ourcontinuous disclosure filings available on SEDAR at www.sedar.com . These forward-lookingstatements are made as of the date hereof and the Company does notassume any obligation to update or revise them to reflect new eventsor circumstances save as required by applicable law.
Exploits Discovery would like to acknowledge the financial support ofthe Junior Exploration Assistance Program from the Department ofNatural Resources, Government of Newfoundland and Labrador.
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