Mr. Terry Christopher reports

ZONTE MAKES A DISCOVERY AT THE K6 TARGET, DRILLING INTERSECTS MULTIPLE COPPER ZONES

Zonte Metals Inc. has provided an update on the K6 drilling program at its Cross Hills copper project in Newfoundland and Labrador.

Drill program highlights:

• Visible copper mineralization observed in all seven drill holes;
• CH23-05 intersected 11.2 metres of 0.42 per cent copper, including 2.65 per cent over 0.5 m;
• CH23-06 intersected longest mineralized interval, 34.5 m of 0.1 per cent copper;
• Mineralization is open along strike and to depth;
• Chalcocite mineralization and copper grade increase with depth;
• While K6 is the smallest target at Cross Hills, its success validates the effectiveness of the new exploration program;
• This drill success indicates the project's potential to become a new copper belt in Canada.

Terry Christopher, president and chief executive officer, comments: "We're pleased to have made a discovery at the K6 target, following the last three years of additional surface exploration. The initial two years of exploration at Cross Hills targeted specific geophysical anomalies with moderate drill success, at best. The new combined exploration data set has proven successful with the discovery at K6. Visually, copper was observed in all drill holes, with continuous intercepts up to 34.5 m. The drilling also highlighted the presence of chalcocite as the dominant copper mineral. CH23-05 recorded 11.2 m of 0.42 per cent Cu with 1.41 per cent and 2.64 per cent, recorded in 0.7 m and 0.5 m, respectively.

"Mineralization remains open to depth and along strike, with copper grades increasing with depth as chalcocite percentages increase. The K6 target will be the immediate drill focus for the company and the drill permit has been applied for. The K6 target represents the first test of the combined data, and although the target is the smallest known target on the project, the drill success demonstrates that combined exploration techniques are effective for finding copper mineralization. This discovery is important on a larger property scale as it highlights the Cross Hill project is fertile with copper, potentially hosting a new copper belt in Canada."

A total of seven drill holes were completed, totalling 1,741 m, at the K6 target. The drill holes were positioned to test numerous aspects within the combined data set, some of which remain untested. All seven drill holes intersected visual copper mineralization. Drill holes CH23-03, 05 and 06 recorded copper in widths up to 34.5 m. Grades generally ranged from 0.10 to 0.40 per cent Cu, with individual samples returning up to 2.64 per cent Cu. Mineralization is characterized mainly by chalcocite, bornite and chalcopyrite with a general pattern of chalcocite becoming the dominant copper mineral with depth. Drill hole CH23-07, completed along strike to the west, intersected anomalous values; however, comparing the alteration sequence in the earlier holes with this one suggests this hole may have drilled over mineralization.

Drill holes CH23-02, 03, 05 and 06 were completed in a fence-like pattern. Mineralization in these drill holes shows increasing grade with depth and remains open at depth. The deepest hole, CH23-05, returned 11.2 m of 0.42 per cent Cu. Within that interval, the highest values from the drilling were recorded at 1.41 per cent and 2.64 per cent Cu over 0.7 m and 0.5 m, respectively. While CH23-02 did not yield consistent values, visually, the alteration and rock type in this hole suggest that the mineralization in CH23-06 may constitute a separate zone from that in CH23-03 and 05, which remains open to depth.

The recent drilling completed at the K6 target was the second phase of drilling at this target. Two drill holes, totalling 445 m, were completed in 2019 and designed to test the magnetic and gravity signatures. Only slightly anomalous values were recorded in 2019, with the single best interval being 0.01 per cent Cu over five m. The significant improvement in copper grades in phase 2 illustrates how integrating the additional exploration techniques over the last three years has improved the understanding of the mineralizing system.

On the project scale, the drill success at K6 highlights the potential in the remaining 11 targets. Throughout the project, the company has been actively conducting similar exploration across all targets as it did at K6. These programs have advanced many targets to near-drill stage.

Qualified person

Donald Blake, PGeo, is the qualified person as defined by National Instrument 43-101 and has reviewed and approved the contents and technical disclosures in this press release.

Rock and protocol and drill sampling protocol

All drill core was logged and prepared for shipment on site. Samples were shipped to SGS Canada preparation lab in Grand Falls Windsor, Nfld., and to Eastern Analytical in Springdale, Nfld., under chain of custody. Quality assurance/quality control included the systematic insertion of certified standards and blanks. Samples were described, tagged and sealed prior to being transported to the lab where the samples were analyzed at Eastern Analytical for the ICP-34 package (34-element four-acid leach, inductively coupled plasma optical emission spectroscopy finish) and the fire assay (30 grams) with atomic absorption finish and at SGS Canada for the GE_ICM40Q12 (49-element package, four-acid leach, inductively couple plasma atomic emission spectroscopy/inductively coupled plasma mass spectrometry) and the GE_FAI30V5 (30-gram gold fire assay with ICP-AES finish). Both laboratories provide their own internal QA/QC protocol of blanks, duplicates and standards in each work order, which is supplied to the Zonte with the rock sample analysis.

About Zonte Metals Inc.

Zonte Metals is a junior explorer focused on gold and copper. The company owns 100 per cent of the McConnells Jest project, in the Tintina gold belt, located in Yukon, the Wings Point project in the new central Newfoundland gold belt, and the Cross Hills iron oxide copper-gold project located in Newfoundland and Labrador. In Colombia, the company has a 25-per-cent carried interest in Project X where historic drilling intersected significant gold mineralization, and the company and partner have an application over open areas sitting on top of the open-pit outline of the Gramalote deposit in Colombia, which is held by AngloGold Ashanti and B2Gold. The title issuance is being contested by the state governing the application and the company has started legal action to protect its rights.

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