Drill Results From The McLymont Fault

KELOWNA, BC - Enduro Metals Corporation reported further drill results from historically unsampled drill core along the McLymont Fault of the Company's Newmont Lake Project, providing additional evidence for significantly more gold within the previously drilled area. More assays are awaited from recent drilling which tested targets beyond the area of the historic drilling, including recently released NW20-09 which cut 8.85m of 31.09 g/t Au, and 1.07% Cu 300 meters away. The Newmont Lake Project is located in the heart of British Columbia's Golden Triangle. McLymont is one of four large-scale geological systems on the 638 km2 project controlled by Enduro.

R-07-09's original reported intersection was 19.69m of 7.82 g/t Au, including 2.35m of 27.32 g/t Au (see Romios Gold news release of December 18th, 2007). Enduro Metals took an additional 52 samples over a total of 83.08 metres from previously unsampled core. Of those 52 samples, 18 returned new anomalous gold values.

Assays below the original mineralized interval revealed another mineralized horizon of 26m of 2.46 g/t Au, 3.17 g/t Ag, and 0.11% Cu starting at 56.60m. Only 1 sample was taken in the newly discovered horizon when it was originally drilled in 2007 which returned 1.68m of 6.58 g/t Au, 29.6 g/t Ag, and 0.74% Cu. The combination of these historic and new assays resulted in the longer interval of high-grade gold mineralization.

Historic diamond drill hole R-07-09, sampled at the beginning of the 2020 field season as part of the Company's analysis of historic drill core returned a newly reported interval of 1.72 g/t Au, 2.59 g/t Ag, and 0.10% Cu over 156.12m starting at 6.86m depth, including 3.03 g/t Au, 4.57 g/t Ag, and 0.17% Cu over 86.29m.

Diamond drill hole R-07-09 is a vertical drill hole in the NW Zone located: 25m south of previously reported R-08-07; another historic drill hole sampled as part of the historic sampling campaign which returned 144.00m of 3.18 g/t Au, including 0.44m of 753 g/t Au, 462 g/t Ag, and 0.69% Cu; 150m southwest of previously reported NW19-12 (drilled in 2019) which intersected 44.13m of 4.03 g/t Au and 0.29% Cu within 188.00m of 1.10g/t Au, 1.15 g/t Ag, and 0.09% Cu starting at 67.0m depth; 300m southwest of recently reported NW20-09 which intersected 10.03 g/t Au, and 0.36% Cu over 28.34m starting at 144.12m depth including 8.85m of 31.09 g/t Au, and 1.07% Cu and 225.30 g/t Au, and 4.90% Cu over 0.59m.

Furthermore, on the opposite end of the NW Zone, non-material unreported drilling from 2019 encountered additional high-grade gold at surface 30m west of historic NW Zone drilling, along with increasing copper enrichment. NW19-24 intersected 3.54m of 6.10 g/t Au, 4.04 g/t Ag, and 0.16% Cu starting at 8.46 metres depth, including 1.09m of 15.82 g/t Au, 11.30 g/t Ag, and 0.42% Cu. This high-grade gold intersection is a 30m step-out to the southeast from the nearest historic drilling completed in 1987 which intersected 2.80 metres of 14.40 g/t Au, 14.20 g/t Ag, and 0.32% Cu starting at 5.60 metres depth.

NW19-24 is one of 4 short holes drilled in 2019 immediately southwest of the NW Zone which were drilled for geological modeling purposes. All 4 short drill holes contain broader intervals of low-grade anomalous gold and copper currently being interpreted.

Current drilling along the McLymont Fault is 16km up the McLymont Creek Valley from the 303-megawatt Northwest Projects hydroelectric power complex, which is serviced by an all-season road access and is tied into the provincial power grid.

Cole Evans, President and CEO, said, "The R-07-09 results provide additional evidence of previously unknown gold mineralization similar to results from R-08-07's 144.00m of 3.18 g/t Au reported this past July. This suggests there is significantly more gold mineralization within the Northwest Zone than was previously understood over much broader intervals. Pending 2020 drill results will help develop the relationship between mineralization in the NW Zone and elsewhere along the McLymont Fault, including our recent success from NW20-09 in the NE Extension."

The historic resource estimate from within the NW Zone is based on diamond drilling completed between 1987-1990 by Gulf Minerals with an estimate of 1,406,000 tonnes of 5.16 g/t AuEq (4.43 g/t Au, 6.4 g/t Ag, and 0.22% Cu) containing 200,000 oz gold, 291,000 oz silver, and 6,790,000 lbs copper contained within approximately 100m of surface at a "base case" cut-off grade of 2.00 g/t AuEq. 16,992m of diamond drilling were completed between 1987-1990, of which 3,382m was assayed for gold mineralization. Insufficient work has been completed to classify the historical estimate as mineral resources. No mineral reserves are contained in the historical resource estimate.

The existing mineral envelopes used by Gulf Minerals are based on the 1987-1990 drilling completed by Gulf Minerals (16,992 m total) and are indicative of a concentration of reasonably continuous, high grade, gold-silver-copper mineralization at the NW Zone. However, only 20% of the total core drilled was sampled 2019 / 2020 drilling and resampling programs on historic core are now demonstrating that there is significant additional gold mineralization lying both within and outside of historic mineral envelopes which would not have been included in the historic estimate. Additional work is required to complete a new resource estimate for the NW Zone.