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Doubleview Gold Corp
Symbol DBG
Shares Issued 178,973,025
Close 2023-02-06 C$ 0.51
Market Cap C$ 91,276,243
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Doubleview recovers 56% Sc in first attempt at Hat

2023-02-06 17:45 ET - News Release

Mr. Farshad Shirvani reports

DOUBLEVIEW ACHIEVES INITIAL 56% SCANDIUM RECOVERY IN FIRST METALLURGICAL TEST OF HAT DEPOSIT FLOTATION TAILINGS - POTENTIALLY THE FIRST MAJOR SOURCE OF SCANDIUM IN N. AMERICA

Doubleview Gold Corp.'s first attempt at recovering scandium in a sequential purification process has recovered 56 per cent of scandium in tailings from its Hat copper, gold, cobalt property. Scandium was recovered as a phosphate precipitate by treating flotation tailings extraction solution from metallurgical testwork on Hat mineralization. The Hat property is located in the Golden Triangle region of Atlin mining district, Northern British Columbia.

Scandium phosphate is a high-value product that currently trades for approximately $35 per one gram lot, in comparison with gold which currently trades at approximately $60 per gram.

Earlier scandium extraction testwork aimed at the recovery of scandium from Hat deposit flotation tailings demonstrated that it was possible to extract 90 per cent of scandium to solution by employing a sulphate leach at elevated temperatures.

Testwork has now moved into the scandium recovery optimization phase, with sequential purification for the removal of iron and aluminum followed by precipitation of scandium as a phosphate product. Although 56 per cent of scandium was recovered to a phosphate precipitate at the first attempt, testwork to improve recovery and purity is continuing, including sequential purification, precipitate washing, phosphate purity and recovery.

President and chief executive officer Farshad Shirvani stated: "The discovery of a deposit with potential deliverables of scandium, cobalt, copper and gold by Doubleview is a significant achievement for the company, its shareholders and North America as a whole. Of particular significance is the potential for scandium, as the USA imports 100 per cent of its scandium consumption. This landmark discovery has the potential to expand the use of scandium in a variety of applications, one of which is its ability to enhance the energy capacity, stability and safety of nickel-metal hydride (NiMH) batteries commonly used in electric vehicles and consumer electronics."

Mr. Shirvani further stated: "The integration of scandium into aluminum alloys can lead to a stronger and lighter material than steel, which is essential for the automobile and aerospace industries. As the demand for energy-efficient vehicles continues to grow, the use of scandium aluminum alloy, with high percentages of scandium, provides a solution to the challenge of heavy energy consumption and limited infrastructure capacity. The shift towards ever lighter materials will require adoption by global industry of new techniques and materials."

Mr. Shirvani concluded by highlighting: "The discovery of this deposit has the potential to revolutionize various industries and provides a new opportunity for the use of scandium. This discovery has the potential to create a significant impact on the industry."

Qualified person

EUR, ING, Andrew Carter, BSc, CEng, MIMMM, MSAIMM, SME of Coffey, Tetra Tech, is Doubleview's qualified person with respect to the Hat project metallurgical studies as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects and has reviewed and approved the technical contents of this news release. He is independent of Doubleview.

About Doubleview Gold Corp.

Doubleview, a mineral resource exploration and development company, is based in Vancouver, B.C., Canada, and is publicly traded on the TSX Venture Exchange (DBG), the OTCQB (DBLVF) and the Frankfurt Stock Exchange (A1W038 and 1D4). Doubleview identifies, acquires and finances precious and base metal exploration projects in North America, particularly in British Columbia. Doubleview increases shareholder value through the acquisition and exploration of quality gold, copper and silver properties and the application of advanced state-of-the-art exploration methods. The company's portfolio of strategic properties provides diversification and mitigates investment risk.

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