Niblick Cu-Au-Zn-Ag Mineral Resource Estimate Gold Update

VANCOUVER - Blackwolf Copper and Gold reported on the updated Mineral Resource Estimation (MRE) for its Niblack property in southeastern Alaska. The Niblack project hosts high-grade Cu-Au-Ag-Zn VMS-style mineralization within a series of felsic volcanic flows and breccias, typically as stringer, semi-massive to massive chalcopyrite and sphalerite-rich replacement-style mineralization, commonly with pyrite. Multiple deposits of both exhalative and replacement-style mineralization occur within a folded prospective horizon of volcanic rocks.

Highlights of the updated MRE include: Indicated Mineral Resource of 5.85 million tonnes at 0.94% Copper, 1.83 g/t Gold, 1.73% Zinc, and 29 g/t Silver and an Inferred Mineral Resource of 0.21 million tonnes at 0.93% Copper, 1.52 g/t Gold, 1.38% Zinc, and 18 g/t Silver from the Lookout and Trio deposits using a US$100/tonne cut-off; A higher-grade zone comprised of multiple, subparallel, interconnected lenses of sulfide mineralization on the Lookout deposit comprised of 3.790 million tonnes at 1.06% Copper, 2.19 g/t Gold, 2.07% Zinc, and 35 g/t Silver in an Indicated category using a US$130/tonne cut-off; Both Lookout and Trio are open along strike and up/down-dip of the Mineral Resource with significant additional exploration potential across the property; and Other areas of mineralization on the Property such as Niblack Mine area and Dama Zones require additional drilling and data validation are required prior to an initial Mineral Resource Estimation and are therefore not included in this MRE.

"Our updated mineral resource estimation includes subsequent rounds of drilling as compared to the previous 2011 mineral resource estimate as well as cost parameter guidance from current underground operations, in accordance with the new CIM guidelines. The wide nature of mineralization, particularly at the Lookout Zone is potentially amenable to underground bulk mining methods such as longhole stoping," said Rob McLeod, President and CEO. "Mineralization at multiple zones is wide open for expansion along strike and down dip and our revised geological interpretation has opened up new areas for discovery on the Property. Niblack's proximity to tidewater with a production-size underground ramp, site infrastructure including a water treatment facility, positions Niblack as one of the most advanced, largest and highest-grade polymetallic deposits in the Pacific Northwest."