McVicar Gold Project To Begin In 2022

VANCOUVER - Cross River Ventures Corp. reported a 5,000-meter diamond drilling program will commence at the McVicar Gold Project in Q1 2022. The 120 square kilometer McVicar Gold Project is located in the Patricia Mining Division, approximately 150 km east of Red Lake, and 80 km west of Pickle Lake, in the Superior Province, northwest Ontario, Canada. Gold exploration targets are hosted in a prolific Archean greenstone belt with numerous high grade gold discoveries, active mines, and past producers. The Company has received all relevant permits. This initial drill program will focus on two high-grade gold trends located at the Altered Zone and the newly discovered Bear Head Zone.

"A lot of prep work has gone into the project so far," said CEO, Alex Klenman. "Our tech team has spent countless hours going through historical data and generating new favorable data through airborne surveys, ground reconnaissance and sampling programs. The project is large and has multiple zones of interest that all make a compelling case for drill testing. This is an exciting first step for us and we're eager to begin the next phase of exploration at McVicar.”

The Winter 2022 drill program builds on the successful Phase 1 field campaign. The Phase 1 field program confirmed the locations of historic bedrock gold occurrences. In addition, new outcropping gold mineralization was discovered. Importantly, the 2021 field work identified and outlined a new mineralized trend structure south of the historic Chellow Vein, named the "Bear Head" Zone. The Bear Head Zone is characterized by an extensive NW-trending multi-kilometer damage zone in altered mafic volcanic rocks, coincident with braided lineaments and structural breaks identified in (topographic) Lidar features as well as magnetic datasets.

The Bear Head is a newly discovered, undrilled, minimum 700-meter-long, high-grade gold corridor, nested within a multi-kilometer gold-bearing crustal-scale break. Two samples collected from sheared and silicified mafic metavolcanic rocks containing smoky-blue quartz veins (1-10 centimeter-wide), returned gold values of 19.75 grams-per-tonne ("g/t") gold ("Au") and 1.415 g/t Au, respectively. Field crews identified this new trend approximately 600 meters south of the historic Chellow Vein. The Bear Head Zone is situated near the southern contact between mafic metavolcanic rocks and granite outboard of the Bear Head Fault Zone.

The surface exposure of the shear zone shows up clearly as a discrete WNW trending break on the 2021 Lidar survey data. Magnetic data shows a coincident linear anomaly. The drill program will test the extent of the anomaly at depth across the recessive zone at and adjacent to the structural/magnetic breaks which are coincident with the mapped gold zones.