Assays Received On Six Remaining Holes At Project In Bullfrog Mining District

GRAND JUNCTION, CO - Bullfrog Gold Corp. reported that assay results have been received from the six remaining holes of the 25 total holes recently drilled at its Bullfrog Project. The Project comprises 2,125 hectares (5,250 acres) of strategic lands, established resources and prospective exploration potential in the Bullfrog Mining District located 4 miles west of Beatty, Nevada. The Bullfrog and surrounding area are in one of the most prolific gold exploration regions in North America.

The remaining hole of the 17 holes drilled in the Mystery Hill (MH) area intercepted 35 meters (115 feet) of 0.44 g gold/t starting at the surface and included 15 m of 0.64 g/t staring at 2 m.  Most of this intercept was not within previous estimates of measured and indicated (M&I) resources. The last 3 of 6 holes drilled in the Montgomery-Shoshone (MS) area were collared near the west rim of the pit and angled to test for down dip mineralization that could not be drilled in the MS pit. BM-20-21 intercepted 61 meters at 0.78 g gold/t and 7.25 g silver/t from 99 meters to 160 meters, including 20 meters at 1.84 g gold/t and 18.3 g silver/t starting at 134 meters. BM-20-22 intercepted 6 meters at 0.33 g gold/t and 5.2 g silver/t starting at the surface and 24 meters at 0.54 g gold/t and 2.08 g silver /t starting at 93 meters. These intercepts were in areas that were not included in M&I resource. The initial two holes drilled in the far south of the Paradise Ridge exploration target did not discover any significant mineralization. Notwithstanding, this target is approximately 2,000 meters long and 400 meters wide and these two holes tested a representative area of  approximately 30,000 square meters, or less than 4% of the prospective target area.

Dave Beling, CEO, said, “The drill assay results achieved our objectives to further define  resources and ultimate limits of proposed expansions to the Bullfrog and MS pits. The program also fulfilled a final work commitment for the Company to purchase a 100% interest in lands under lease from Barrick by mid-September 2020. The first two holes in the Paradise Ridge target did not intercept any significant mineralization, but this large undrilled area continues to be highly prospective and needs several more drill holes to fully explore and assess its potential that extends nearly 2,000 meters to the northwest.”  

BM-20-20 was located to determine if the mineralization that was identified in several old holes continued along strike to the northeast and southwest and particularly up dip. The 12-meter intercept of 0.30 g/t is approximately 70 meters below the existing pit and may not add any resources within an optimized pit plan but was needed to define ultimate pit limits in that area.

BM-20-21 intersected 61 meters at 0.78 g gold/t and 7.25 g silver/t approximately 40 meters below the northern pit wall. The new intercept confirms continuity of mineral along strike as well as up and down dip, particularly in combination with the new drill assay data in holes BM-20-1, 2, 20 and 22 (see Figure 1) and a few intercepts in old, wide-spaced holes. The new intercept is in an area that previously was not in M&I resource estimates.

BM-20-22 intercepted 24 meters of 0.54 g/t starting at 45 meters below a 50-meter wide bench in the northeast end of the MS pit.  As a result, much of the stripping over the northeast extension of this intercept was completed by previous operators.  Laybacks of the pit walls toward the north and south will limit how far the MS pit can be deepened, but there now is enough information to optimize a pit plan and its ultimate depth. The new intercept is in an area that previously was not in M&I resource estimates.

The two holes drilled in the far south of the Paradise Ridge target did not intercept any significant mineralization. Notwithstanding, this target is approximately 2,000 meters long and 400 meters wide and these two holes tested a representative area of approximately 30,000 square meters, or less than 4% of the total prospective target area.  In this regard, the Company has engaged Dr. Tommy Thompson of Reno, a highly experienced and widely recognized authority on epithermal gold deposits to perform further analytical tests on samples of these two holes, conduct a field examination of the Paradise Ridge target and provide recommendations to facilitate and advance the exploration of the entire target.