20:17:39 EDT Mon 23 May 2022
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White Metal Resources Corp
Symbol WHM
Shares Issued 128,589,750
Close 2022-01-18 C$ 0.08
Recent Sedar Documents

White Metal drills 105m of 0.9 g/t Au at Tower Mountain

2022-01-18 09:11 ET - News Release

Mr. Michael Stares reports

WHITE METAL DRILLING EXPANDS BENCH ZONE, RETURNING 105 METRES OF 0.91 G/T AU FROM THE TOWER MOUNTAIN GOLD PROJECT, ONTARIO

White Metal Resources Corp. has received additional drill results from its continuing phase 3 drilling program at its flagship Tower Mountain gold project. The two drill holes TM-21-120 and TM-21-121 were designed to test the down dip and expansion of the Bench Zone and the company is very pleased to report that both holes were successful in expanding the Bench zone. The phase 3 drilling program was designed to further test the encouraging results received from the company's previously reported phase 1 and 2 drilling programs that have been testing multiple gold zones.

Michael Stares, president and chief executive officer of White Metal, stated: "These widespread gold intercepts continue to demonstrate Tower Mountain's economic potential and we are encouraged that the Bench zone has promise to host an open-pit mineral resource. This is further substantiated by the combined Bench zone, 110 zone and D zone results which are interpreted to represent a broad, single alteration-mineralization system. We will continue to drill the prospective areas within these zones to further our understanding of this impressive gold system. The total strike distance between the northwest portion of the Bench zone to the southern area of the 110 zone is approximately 800 metres, although additional drilling is required to fully test if there is continuity between the zones."

TM-21-120 was drilled 30 m to the west-southwest of TM-21-106 (see company news release dated Sept. 23, 2021) while TM-21-121 was drilled 103 m to the southeast of TM-21-120. Both holes were drilled as follow-up from the phase 2 drilling program and the encouraging results obtained from holes TM-21-105, 106, and 107 that were also designed to test the down-dip extension of the Bench zone (see "Summary of recent core assay results from two holes, current phase 3 drilling program, Bench zone" table).

The continuing phase 3 drilling program has been very successful, expanding the Bench zone to the west and demonstrating the continuity of the down-dip extension. It should also be noted that both diamond drill holes ended in gold mineralization, with TM-21-120 returning 0.67 gram per tonne (g/t) Au from 285.5 to 287.0 metres (end of hole) and TM-21-121 returning 0.48 g/t Au from 291.5 to 293.0 m (end of hole).

This news release focuses on the Bench zone portion of the continuing drilling program, with future core assay results to be reported from several of the other zones as they are received, compiled and interpreted by the company. Readers are also encouraged to refer to the company's news release dated Jan. 11, 2022, for more specific details surrounding the Tower Mountain phase 3 drilling program.

About the Tower Mountain gold property

The Tower Mountain gold property is located 50 kilometres west of Thunder Bay, Ont., and consists of unpatented and patented lands totalling 1,968 hectares (19.68 square kilometres). The property has excellent infrastructure and can be worked year-round with well-maintained roads and a power grid within less than five kilometres. Gold mineralization on the property is described as intrusive-associated disseminated gold and may have similarities to gold mines hosted in the Abitibi greenstone belt of Northeastern Ontario, such as in the Kirkland Lake and Malartic gold camps. One example, the Young-Davidson mine, is currently one of Canada's largest underground gold mines and in 2020 produced 136,200 ounces of gold (Alamos gold news release Feb. 24, 2021).

Mineralization hosted by established operations and other exploration projects is not necessarily indicative of mineralization hosted on the company's property.

Qualified person

Technical information in this news release has been reviewed and approved by Dr. Scott Jobin-Bevans (PGeo), vice-president of exploration and a director of White Metal, who is a qualified person under the definitions established by National Instrument 43-101.

About White Metal Resources Corp.

White Metal Resources is a junior exploration company exploring in Canada and southern Africa. The company's two key properties are the Flagship Tower Mountain gold project in Thunder Bay, Ont., Canada, and the Okohongo copper-silver project in Namibia, Africa.

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