Best Drill Hole Result In History Of Buckreef Gold

TORONTO - TRX Gold Corporation reported its best drill result ever, on a gram x tonne x meters (gtm) basis with hole BMDD310 intersecting 35.5 metres (m) @ 5.48 g/t Au (194.54 gtm) from 64 m. This drill hole result is approximately 200 m east of the Buckreef Main Zone, host to Buckreef Gold’s 2M+ ounce Au Mineral Resource1 and where current operations are ongoing in the Main Pit.

The Company is also excited to announce the discovery of a promising new gold mineralization shear zone, named the “Stamford Bridge Zone” at which current drill results are revealing geological characteristics and mineral alterations similar to that at Buckreef’s Main Zone. Hole BMDD310 is located along the Stamford Bridge Zone.

Stamford Bridge Shear Zone Drill Results To Date: 1) Hole BMDD310 intersected 35.5 m @ 5.48 g/t Au from 64 m; including 13m @8.06g/t Au. 2) Hole BMDD312 intersected 17.2 m @ 3.14 g/t Au from 164.6 m. 3) Geotechnical hole BMGT001 intersected 11.39 m @ 2.80 g/t Au from 104.0 m, and 22.0 m @ 2.36 g/t Au from 186.6 m. Both results are interpreted to be part of the Stamford Bridge Zone trend. 4) BMGT001 intersected the Buckreef Main Zone of 32.80 m @ 1.70 g/t Au (ending in mineralization) from 393.0 m.

The Stamford Bridge Zone was discovered through detailed geological mapping of the Main Pit floor that identified a trend of high-grade mineralization on the eastern side of the Main Pit trending 0700 East. This is an exceptional discovery at the Buckreef Gold Project, resulting in the most significant mineralization identified within Buckreef Gold’s drill history.

The exploration team then identified that geotechnical hole BMGT001 (one of geotechnical holes drilled as part of the Buckreef Main Zone geotechnical study completed by Terrane Geoscience Inc.) located 160 m east of the Main Pit, drilled across the Stamford Bridge, and was subsequently relogged. The logging confirmed the presence of three mineralization zones, including the Stamford Bridge Zone. The zones were sampled. To date, the new Stamford Bridge Zone has shown evidence of a sheared mineralized zone with similar geological characteristics to that found in the Main Zone.

Isaac Bisansaba, Manager of Technical Services, said, “To have an over 50% success rate at this early stage of drilling a newly discovered shear zone is very exciting. Thus far, from four drillholes, two returned remarkable results and the two other holes still show evidence of strongly mineralized shear structure. This seems to represent the pinch and swell, typical of shear zones.”