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Tempus Resources Ltd
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Close 2021-10-08 C$ 0.165
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Tempus Resources sees assay grade increase at Elizabeth

2021-10-11 23:21 ET - News Release

Mr. Jason Bahnsen reports


Tempus Resources Ltd. has released results from screened metallic analysis of selected intervals from recent Elizabeth gold project drill holes EZ-21-01, EZ-21-04, EZ-21-05, EZ-21-06, EZ-21-07B and EZ-21-08, where the results show an average increase in gold grade of approximately 31 per cent when compared directly against the originally published assay results based on standard fire assay analysis (see the attached table).

Screened metallic analysis was completed in consultation with the lab (SGS Canada Inc.) due to the observation that Elizabeth gold mineralization includes course-grained gold, and assays completed using the standard fire assay method may have been underrepresenting grade, or may have otherwise been less accurate than screened metallic analysis due to the nugget effect. Screened metallic reassaying was considered particularly vital to test the accuracy of the very high, bonanza-grade assays received to date.

The more accurate screened metallic analysis resulted in a significant increase in assay grades. The best example of this is from drill hole EZ-21-04, where 52.1 grams per tonne gold over 1.50 metres from 123.00 metres was initially reported (see Tempus announcement of Aug. 10, 2021) and is now confirmed to be 68.3 g/t gold over the same interval. The attached table shows the screened metallic analysis results received to date for six holes (EZ-21-01, EZ-21-04, EZ-21-05, EZ-21-06, EZ-21-07B and EZ-21-08) compared with their prior reported standard fire assays.

Tempus president and chief executive officer Jason Bahnsen commented: "The screened metallic analysis results take the high-grade nature of the Elizabeth story even farther. We have several more screened metallic analysis results pending. Drilling also continues on site, and we are now focusing on defining the potential new vein parallel to the South West vein, identified with visible gold in drill hole EZ-21-12."

Values received from screened metallic analysis will supersede the original assay results and, based on information gained to date, are expected have a positive impact on overall grade and scale when calculating an updated mineral resource estimate. Tempus technical staff will continue to use screened metallic analysis on quartz vein zones where higher gold grades are expected.

Comparison of gold grades between screened metallic and original standard fire assay results

The Elizabeth gold project is the flagship project for Tempus and is located in the Bralorne-Pioneer gold district of Southern British Columbia. The 115-square-kilometre project is a relatively underexplored high-grade mesothermal gold project with mineralization presenting itself in vein sets which range in true width from one metre to 6.5 metres. The high-grade quartz veins encountered in the drilling at Elizabeth show close geological similarities to the Bralorne-Pioneer mesothermal vein system (approximately 30 kilometres away), which was mined to a depth of approximately 2,000 metres and produced more than four million ounces of gold over a period of more than 70 years (from approximately 1900 to 1971).

To date, Tempus has completed approximately 8,600 metres of drilling (of the total announced phase 1 drill program of 12,000 metres) since the program started in November, 2020. In total, Tempus has completed 34 diamond drill holes at Elizabeth (11 holes completed in 2020 and 23 holes completed in 2021 to date). There are currently 11 drill holes pending assay results.

Competent person statement

Information in this report relating to exploration results is based on information reviewed by Kevin Piepgrass, who is a member of the Association of Professional Engineers and Geoscientists of British Columbia (APEGBC), which is a recognized professional organization (RPO), and an employee of Tempus Resources. Mr. Piepgrass has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a competent person as defined by the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, and as a qualified person for the purposes of National Instrument 43-101. Mr. Piepgrass consents to the inclusion of the data in the form and context in which they appear.

About Tempus Resources Ltd.

Tempus Resources is a growth-oriented gold exploration company listed on the Australian Securities Exchange (TMR), TSX Venture Exchange (TMRR) and OTCQB (TMRFF) Stock Exchange. Tempus is actively exploring projects located in Canada and Ecuador. The flagship project for Tempus is the Blackdome-Elizabeth project, a high-grade-gold past-producing project located in Southern British Columbia. Tempus is currently midway through a drill program at Blackdome-Elizabeth that will form the basis of an updated NI 43-101/Joint Ore Reserves Committee resource estimate. The second key group of projects for Tempus is the Rio Zarza and Valle del Tigre projects located in southeast Ecuador. The Rio Zarza project is located adjacent to Lundin Gold's Fruta del Norte project. The Valle del Tigre project is currently subject to a sampling program to develop anomalies identified through geophysical work.

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