Strike Length Of Mayflower Extension Zone Extended At Golden Zone Project

TORONTO - Avidian Gold Corp. reported on exploration for its district-scale (125.5 sq. km) Golden Zone Project in south-central Alaska. The property is located midway between Anchorage and Fairbanks and only 10 km west of paved State Highway 3, the Alaska Railroad, and the 345 kV Alaska Intertie power lines. Drilling and site exploration activities were completed using industry best practices and were conducted in a safe and environmentally responsible manner without incident. There has been a completed 3,288 m of reverse-circulation (RC) drilling from 27 drill holes, and a collected 2275 samples from drilling - shipped to ALS Global for analysis. The Mayflower Extension Zone (MEZ) strike length now drill-defined to 600m and open at depth and to the northeast. The Company has completed approximately 1200 line-km of drone magnetic survey, along with reconnaissance mapping and sampling program over JJ-J4 and MJ targets, taking 70 surface rock samples.

The 2021 exploration program at the Golden Zone project has been completed for the year. The primary component was a RC drilling program with a total of twenty-seven additional holes drilled in the MEZ, Copper King, and Long Creek areas as a follow-up to successful drilling conducted in 2017 and 2018. The primary objective of the seventeen hole 2021 MEZ drill program was to continue defining mineralization that lies to the northeast of the Breccia Pipe deposit and is believed to have the highest potential to add additional gold ounces proximal to the Breccia Pipe Deposit. The Breccia Pipe Deposit hosts a NI 43-101 indicated gold resource of 267,400 ounces (4,187,000 tonnes at 1.99 g/t Au) plus an inferred gold resource of 35,900 ounces (1,353,000 tonnes at 0.83 g/t Au).

Previous Avidian drilling at MEZ returned 21.6 m grading 1.46 g/t Au from hole GZ17-10 in a conglomeratic unit and 17.7 m grading 2.12 g/t Au from hole GZ18-01 in the same conglomerate unit / replacement style on a 50-meter step out hole.

Five holes drilled in the northeastern most portion of the MEZ encountered visible sulfides and alteration in the conglomeratic unit that appears similar to replacement style mineralization previously drilled. These holes extend the mineralized zone to the northeast by an additional 200 m from previous holes drilled by Avidian. Near the southwestern most portion of the MEZ, three holes were drilled that also encountered visible sulfides and alteration similar to the central MEZ thereby extending the mineralized zone 100 m to the southwest, and giving the zone a total strike length of approximately 600 m adjacent to the Breccia Pipe Deposit. The drill holes to date at MEZ have vertical depths of less than 150 m leaving the deposit open at depth and along strike to the northeast.

If assay results are positive the Company will consider undertaking a preliminary resource that could add to the already existing NI 43-101 compliant resource at the Breccia Pipe Deposit situated immediately to the southwest of the MEZ.