Mr. Maurizio Napoli reports

CRYSTAL LAKE ANNOUNCES INITIAL DIAMOND DRILL ASSAY RESULTS FROM BURGUNDY RIDGE - RESULTS INCLUDE 91.26M OF 0.38% CU, 0.30 G/T AU, 4.12 G/T AG NEAR SURFACE ON 180M STEP OUT

Crystal Lake Mining Corp. has released the results from the first two of 10 drill holes in its maiden diamond drill program at Burgundy Ridge.

Diamond drill hole BRDDH19-002 (hole No. 2) at the Ridge zone intercepted 91.26 metres of 0.38 per cent copper, 0.30 gram per tonne gold and 4.12 g/t silver starting at a depth of 36.7 m.

Furthermore, a higher-grade core of mineralization within the 91.26 m interval assayed 25.78 m of 0.73 per cent Cu, 0.63 g/t Au, 9.36 g/t Ag and 0.11 per cent zinc starting at 82.22 m depth.

The first diamond drill hole BRDDH19 001 (hole No. 1) drilled on the Ridge zone also intercepted high-grade Cu-Au-Ag mineralization with an interval of 4.66 m at 1.35 per cent Cu, 0.72 g/t Au, 9.04 g/t Ag and 0.17 per cent Zn within a broader mineralized intercept of 59 m of 0.28 per cent Cu, 0.16 g/t Au and 2.44 g/t Ag starting at a depth of 21 m downhole.

Highlights:

• Hole No. 2: 91.26 m of 0.38 per cent Cu, 0.30 g/t Au, 4.12 g/t Ag starting at 36.67 m;
  • Including 25.76 m of 0.73 per cent Cu, 0.63 g/t Au, 9.36 g/t Ag and 0.11 per cent Zn starting at 82.22 m;
• Both hole No. 1 and hole No. 2 intersected copper, gold, silver and zinc-rich mineralization on a 180 m stepout from 2018's reverse circulation drilling and an approximately 40 m to 85 m down-dip separation;
• A total of seven samples (both within and outside of highlighted intervals) returned assays of greater than 1 per cent Cu;
• Assays remain pending on eight of 10 diamond drill holes completed at the Ridge zone in 2019;
• The system remains open in all directions and at depth.

BRDDH19-001  From (m)  To (m)  Interval  Cu (%)  Au (g/t)  Ag (g/t)  Zn (%)

Intercept       21.00   80.00     59.00    0.28      0.16      2.44    0.04  
Including        75.3   79.96      4.66    1.35      0.72      9.04    0.17  
Intercept      125.52  144.30     18.78    0.31      0.18      6.00    0.35 
 
BRDDH19-002  From (m)  To (m)  Interval  Cu (%)  Au (g/t)  Ag (g/t)  Zn (%)

Intercept       36.67  127.93     91.26    0.38      0.30      4.12    0.06  
Including       69.00  108.00     39.00    0.62      0.52      7.22    0.09  
Including       82.22  108.00     25.78    0.73      0.63      9.36    0.11  

Discussion

The second diamond drill hole BRDDH19-002 at the Ridge zone did not make it to its final target and collapsed at a depth of 147 m due to bad ground conditions, 203 m short of its target depth of 350 m for the first-pass drilling.

The Ridge zone is part of the larger Burgundy trend, an area that received its first-ever drilling in October, 2018, by RC drilling (see March 7, 2018, release). The drill pad A1, from which hole No. 1 and hole No. 2 were completed, is a 180 m stepout from the 2018 RC drilling location.

At the Ridge zone, mineralization vectored into a zinc-rich zone of the system southeast of the collar location in hole No. 1 with 18.78 m of 0.31 per cent Cu, 0.18 g/t Au, six g/t Ag and 0.35 per cent Zn starting at 125.52 m. Higher-grade zinc intercepts up to 1.32 per cent Zn, 0.50 per cent Cu over two m and 0.72 per cent Zn, 0.27 per cent Cu over 1.55 m sit within a broader 74.5 m zinc-enriched horizon.

A seventh high-grade copper intercept was encountered below the zinc horizon in hole No. 1 with 1.85 m of 1.04 per cent Cu, 0.17 g/t Au, 4.78 g/t Ag and 0.24 per cent Zn. This is synonymous with high-grade copper mineralization intersected in 2018 RC drilling more than 200 m away down plunge.

            SUMMARY OF HIGH-GRADE COPPER INTERCEPTS

BRDDH19-001                                        BRDDH19-002

1.82 m of 1.04% Cu at 67.05 m    1.00 m of 1.07% Cu at 82.22 m 
2.27 m of 1.53% Cu at 75.30 m    2.80 m of 1.04% Cu at 90.20 m 
2.39 m of 1.17% Cu at 77.57 m   2.00 m of 1.16% Cu at 104.00 m
1.85 m of 1.04% Cu at 196.00 m                                  

Maurizio Napoli, president and chief executive officer of Crystal Lake, commented: "We are happy with the results from the first two diamond drill holes drilled by any company at Burgundy Ridge (Ridge zone). The grade and length of these intercepts is considerable given the two drill holes are shallow test holes in an area not previously tested by diamond drilling. The fact that mineralization is near surface unlike many deposits in the area is also a critical factor. Given our significant drilling stepouts and stronger visual sulphide mineralization in holes that still have pending assay results on another greater-than-250-metre stepout, we are pleased with the size of the system that we are starting to delineate on the Burgundy trend."

This new drilling data in conjunction with dense hyperspectral, alteration, lithology, structural and surface data indicate that much of the widespread copper, gold, silver and zinc mineralization at surface and open to a minimum depth of 147 m is likely a skarn mineralization zone that is part of a multikilometre copper, gold and silver-rich alkalic porphyry system in the greater Burgundy trend.

Cole Evans, president and CEO of HEG, commented: "Many of the world-class porphyry deposits throughout the Pacific Ring of Fire have skarn components similar to our early observations at the Ridge zone of the Burgundy trend. There are many 'pimple skarns' in the Golden Triangle, but what makes Burgundy Ridge exciting are the initial indications of substantial size. We have made approximately 200 m stepouts and have intersected similar copper, gold, silver and zinc mineralization across the Ridge zone. It takes a large, hot and hydrous intrusion to drive the kind of fluids needed for these conditions. Most of the world's copper and gold comes from porphyry deposits."

The Burgundy trend is close to major infrastructure

The Burgundy trend is located less than 20 km from the 303-megawatt AltaGas hydroelectric power facility completed in 2015. Manulife Financial and Axium Infrastructure purchased 90 per cent of the project for net proceeds of $1.37-billion (U.S.) in 2018. The 72-megawatt Mclymont Creek hydroelectric plant and access road sit on the southern boundary of the Newmont Lake project. The road that was constructed for access to these hydroelectric facilities skirts the southern boundary of Crystal Lake's Newmont Lake property. Additionally, the Galore Creek access road runs through the northern portion of the Newmont Lake property.

Newmont Lake project phase 1 exploration program highlights -- three new surface discoveries expand and infill the greater Burgundy trend

Rapidly receding glaciers at Burgundy continue to expose new mineral showings on surface. Three new surface showings of significance were discovered in 2019 that were previously covered by ice and snow. These showings range from potassic altered, chalcopyrite mineralized megacrystic syenites, to hydrothermal chalcopyrite and sphalerite cement breccias with potassic altered, chalcopyrite mineralized clasts observed discontinuously over a 1,100 m strike length.

On the southeastern end of Burgundy Ridge, a continuous 37 m surface channel sample was taken crosscutting a sulphide-rich cemented hydrothermal breccia and 10- to 30-centimetre chalcopyrite veins at the newly exposed Green Rock showing across the general mineralization trend. The channel sample ended in strong sulphide mineralization at 37 m due to snow cover. Assay results from this channel sample are pending.

Resignation of Richard Savage from board of directors

Mr. Savage has tendered his letter of resignation from the board of directors of Crystal Lake as of Oct. 24, 2019, to pursue new interests. Mr. Napoli, CEO and president, will replace him on the board of directors.

Qualified person

The technical information in this news release has been reviewed and approved by Mr. Napoli, PGeo, CEO and president for Crystal Lake, a qualified person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.

Quality assurance/quality control and analytical procedures

Rock samples from the Newmont Lake project were sent to MSA Labs' preparation facility in Terrace, B.C., where samples were prepared using method PRP-910. Samples were dried, crushed to two mm, split 250-gram and pulverized to 85 per cent passing 75 microns. Prepped samples were sent to MSA Labs' analytical facility in Langley, B.C., where 50-gram pulps were analyzed for gold using method FAS-121 (fire assay-atomic absorption spectroscopy finish). Gold assays greater than 100 g/t Au were automatically analyzed using FAS-425 (fire assay with a gravimetric finish). Rock samples were analyzed for 53 elements using method IMS-230, multielement inductively coupled plasma mass spectrometry four-acid digestion, ultratrace level. Silver assay results greater than 100 g/t Ag and cobalt, copper, nickel, lead and zinc greater than 10,000 parts per million were automatically analyzed by ore-grade method ICF-6.

Crystal Lake Mining conducts its own QA/QC program where three standard reference material pulps, two blank reference material samples are inserted for every 100 samples when analyzing rock samples.

Soil samples from the Newmont Lake project were sent to MSA Labs' preparation facility in Terrace, B.C., where samples were prepared using method PRP-757. Soil samples were dried and screened to 80 mesh, discard plus fraction. Prepped samples were sent to MSA Labs' analytical facility in Langley, B.C., where they were analyzed for 51 elements using IMS-131 for samples with 20 grams or greater and IMS-130 for samples between 0.5 gram and 20 grams.

Crystal Lake Mining conducts its own QA/QC program where three standard reference material pulps, two blank reference material pulps are inserted for every 100 samples when analyzing soil samples.

About Crystal Lake Mining Corp.

Crystal Lake Mining is a Canadian-based junior exploration company focused on building shareholder value through high-grade discovery opportunities in British Columbia and Ontario. The company has an option to earn a 100-per-cent interest in the Newmont Lake project, one of the largest land packages among juniors in the broader Eskay region in the heart of northwest B.C.'s Golden Triangle.

We seek Safe Harbor.