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Newrange Gold Corp
Symbol NRG
Shares Issued 107,614,950
Close 2020-01-08 C$ 0.13
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Newrange's samples average 1.05 g/t Au at Pamlico

2020-01-08 09:17 ET - News Release

Mr. Robert Archer reports

NEWRANGE GOLD CONFIRMS ADDITIONAL CONTINUITY OF GOLD MINERALIZATION AND PROVIDES SUMMARY OF RESULTS AT GOOD HOPE MINE

The last of the underground channel sampling of the Good Hope mine at Newrange Gold Corp.'s Pamlico project has identified oxide gold mineralization extending from outcrops at the portal of the 5609 level for the entire 51-metre length of the level. Mineralization, as sampled, ranges from five metres to more than 17 metres in width with an average grade of 1.05 grams per tonne gold and 11.2 grams per tonne silver.

The mineralized zone on the 5609 level is well exposed in the complex workings of that level and remains open to the east beyond the workings. Defined by 109 underground channel samples that range from 0.011 gram per tonne gold to 28.5 grams per tonne gold and 1.5 grams per tonne silver to 59.5 grams per tonne silver, this large zone of "halo" mineralization encompasses a higher-grade core that averages 3.25 grams per tonne gold and 11.5 grams per tonne silver. Importantly, compared with many of the other levels in the Good Hope mine, the 5609 level explores more of the width of the mineralized zone and confirms potential for broad mineralized halos surrounding the high-grade mineralization that was the focus of historic mining activities throughout the district. The 5609 level results indicate excellent continuity of mineralization between the adjacent levels, where results from the 5570 level (see Newrange press release dated Aug. 6, 2019) averaged 12.48 grams per tonne gold and 49.55 grams per tonne silver over a 24-metre strike length, within a larger zone averaging 1.15 grams per tonne gold and 20.48 grams per tonne silver over a strike length of 144 metres, and the 5690 level (see Newrange press release dated May 14, 2019) averaged 13.89 grams per tonne gold and 71.19 grams per tonne silver over 40 metres.

"With these final results, we are pleased to see the continuity of gold and silver mineralization throughout the workings at the Good Hope mine," commented Robert Archer, chief executive officer. "Now that the company is well financed, we intend to add at least one more sampling crew to speed up the process. In addition, the IP geophysical crew will be returning to continue that survey and refine additional drill targets to be tested later in this first quarter."

Good Hope mine -- results summary and overview

The company's underground mapping and channel sampling program in the Good Hope mine has identified a large, northwest-striking, southwest-dipping zone of highly continuous, near-surface oxide gold mineralization that parallels the surface (dip slope) with a minimum dip extent in excess of 99 metres and remains open to expansion along strike and down dip beyond historic mine workings. Importantly, this mineralized structural system appears to continue into the nearby Gold Bar mine, where crews are currently working. Including both mines and exposures in additional artisanal mine workings for more than 700 metres along trend to the southeast, this zone appears to have a strike extent in excess of 1.2 kilometres. A composite map and sections of the Good Hope mine may be viewed at the company's website.

The character of mineralization in the Good Hope mine is very similar to that seen throughout Pamlico Ridge and tends to be silica poor, intensely oxidized, and hosted in volcanic and volcanoclastic rocks.

Importantly, the dominant mineralized structures in the Good Hope and Gold Bar mines strike northwesterly like the mineralized structures in the Pamlico mine; however, structures in the Good Hope and Gold Bar mines dip predominantly to the southwest, while major structures in the Pamlico mine dip to the northeast. These opposing dip directions develop potential for multiple structural intersections along and within Pamlico Ridge (1.5 kilometres in length), increasing structural complexity and potential for extensive zones of stockwork halo mineralization.

Quality assurance/quality control and methodology

Samples for assay were securely delivered to American Assay in Sparks, Nev., for sample preparation and analysis. Samples were dried, then stage crushed to 80 per cent passing 10 mesh. A 1,000-gram subsample was then split out and pulverized to 140 mesh, from which 50-gram samples were split for analysis by fire assay with atomic absorption finish. All samples assaying more than 10 grams per tonne gold are checked and reassayed using fire assay with a gravimetric finish. In addition to the quality assurance/quality control conducted by the laboratory, the company inserts blanks, standards and certified reference material (CRM) at a rate of one in 20.

Robert G. Carrington, professional geoscientist, a qualified person as defined by National Instrument 43-101, the president and chairman of the company, has reviewed, verified and approved for disclosure the technical information contained in this news release.

About Pamlico

Located 12 miles southeast of Hawthorne, Nev., along U.S. Highway 95, the project enjoys: excellent access and infrastructure; a mild, year-round operating climate; and strong political support from Mineral county, one of the most pro-mining counties in the pro-mining state of Nevada. The Pamlico project covers the historic Pamlico group of mines, as well as the nearby Good Hope, Gold Bar and Sunset mines.

Discovered in 1884, the district rapidly gained a reputation as being one of Nevada's highest-grade districts. Held by private interests for most of its history, the property remains underexplored in terms of modern exploration.

About Newrange Gold Corp.

Newrange Gold is a precious metal exploration and development company that is focused on near-to-intermediate-term production opportunities in favourable jurisdictions, including Nevada and Colorado. With numerous drill intercepts of near-surface oxide gold mineralization to 340 grams per tonne gold, the company's flagship Pamlico project is poised to become a significant new Nevada discovery. Focused on developing shareholder value through exploration and development of key projects, the company is committed to building sustainable value for all stakeholders.

We seek Safe Harbor.

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