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Mountain Boy Minerals Ltd
Symbol C : MTB
Shares Issued 167,751,910
Close 2018-10-10 C$ 0.065
Recent Sedar Documents

Mountain Boy JV drills 7.26m of 10.6g/t Au at Red Cliff

2018-10-11 10:27 ET - News Release

Mr. Lawrence Roulston reports

DRILLING AT RED CLIFF RETURNS 10.6 G/T GOLD OVER 7.26 METRES

Mountain Boy Minerals Ltd. has received an update on drilling at the Red Cliff property from Decade Resources Ltd., its joint venture partner and operator on the project. Mountain Boy Minerals holds a 35-per-cent interest in the Red Cliff property, located in the Golden Triangle of British Columbia, just north of Stewart.

The latest drill intersections, as reported by Decade, are shown in the attached tables.

                      WATERPUMP ZONE  
              
DDH No.           From        To   Core length*      Gold
                    (m)       (m)           (m)      (g/t)

MON-2018-19     161.04    168.29          7.26      10.60  
MON-2018-24     101.68    102.13          0.46      11.90  
MON-2018-28     139.02    140.09          1.07       7.44  
And             143.75    144.21          0.46       5.31  
MON-2018-29     115.40    117.38          1.98      14.49  
MON-2018-35     154.12    155.12           1.0      21.10  

* True width is believed to be 70 per cent of 
intersection length.

 
                       MONTROSE ZONE 
               
DDH No.           From        To   Core length*      Gold
                    (m)       (m)           (m)      (g/t)

MON-2018-38     190.34     191.16         0.82      20.30  
And              197.5     197.96         0.46       3.87  
And              206.4     207.01         0.61       2.17  
MON-2018-39      187.8     188.78          1.0        3.5   
And              189.6     190.18         0.58       3.44  
And             193.08     193.38          0.3       17.0  
MON-2018-42     160.52      162.5         1.98       2.41  
And              165.7     167.23         1.52       4.57  
MON-2018-43     191.16     191.92         0.76       3.94  
And             194.21     197.26         3.05       4.35  
And             200.15     201.68         1.52       4.61  
MON-2018-44     190.03     195.12         5.09       5.34  
Including       190.03     191.31         1.28      13.90  

* True width is believed to be 70 per cent 
of intersection length.

Mountain Boy and Decade are now in the process of organizing a comprehensive independent review of the Red Cliff project. That review would assess all the drilling and other results to date and would include relogging and resampling of the drill core as appropriate.

That review would form the basis for planning further exploration of this extensive mineralized system, which has been identified over a 2.3-kilometre length. Drilling has tested the system in several areas where the operator was able to gain access for a drill rig, but much of the system remains untested.

Lawrence Roulston, president, chief executive officer and a director of Mountain Boy commented: "We are encouraged by these latest results, which support our belief that Red Cliff represents a large and well-mineralized gold-copper system. Located just 2.5 kilometres from a paved highway, Red Cliff is ideally situated for mine development. A comprehensive review will provide further guidance in how best to advance this project."

Mountain Boy also reports that a highly productive field season will be wrapping up next week. The five-member geological team worked in close co-operation with Auramex Resource Corp., as the two companies have adjacent properties in the Bear Valley/Bear Pass area. Results will be compiled and reported over the coming weeks.

In addition, Mountain Boy has closed the private placement announced Aug. 17, 2018, of flow-through common shares. A total of 1,812,500 flow-through shares, were issued at an offering price of eight cents per flow-through share for gross proceeds to the company of $145,000. The proceeds of the private placement will be used for property exploration. The flow-through shares issued under this placement are subject to a four-month hold period until Jan. 5, 2019.

Ed Kruchkowski, PGeo, a qualified person under National Instrument 43-101, is in charge of the exploration programs on behalf of the company and is responsible for the contents of this release.

About Mountain Boy Resources Ltd.

Mountain Boy Resources is a Canadian-based mineral exploration company with a property portfolio of gold and silver projects within the Stewart region in the very prolific Golden Triangle region of British Columbia. In addition to the Red Cliff interest, Mountain Boy Resources owns 100 per cent of the high-grade MB silver project and 100 per cent of the BA and Surprise Creek volcanic massive sulphide (VMS) copper-lead-zinc-silver projects. The company is in the process of exchanging a 20-per-cent interest in the Silver Coin project for 3,746,874 shares of Ascot Resources Ltd.

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