High-Grade Gold Mineralization Increased At The Montclerg

SASKATOON - GFG Resources Inc. reported continued high-grade gold assay results from its recently completed 17-hole 2022 Phase 2 drill program at the Montclerg Gold Project, located 40 kilometers (km) east of Timmins, Ontario. Results are from eight drill holes from the MC Central target and demonstrate strong continuity and continued expansion of the gold system. During the Phase 2 drill program, the Company completed a total of 17 holes (3,541 m) on the Goldarm Property located east of Timmins, Ontario. The Phase 2 drill program was designed to complete infill drilling to advance Montclerg towards resource, step-out holes to grow the Montclerg gold system and to begin testing high-priority gold targets within the Goldarm Property such as the Aljo Gold Mine target (“Aljo”). Of the 17 holes completed, 14 holes were completed at Montclerg and three holes at Aljo. To date, GFG has received 12 holes from the 17-hole program and anticipates announcing the remaining holes during the first quarter of 2023.

“We are very excited with the results from Montclerg as they continue to outline a robust gold system. The high hit rate, growing continuity and scale of the gold system shows the immense potential of the project. Our progress reinforces our belief in the regional prospectivity of this extremely well-endowed and infrastructure rich region,” stated Brian Skanderbeg, President and CEO of GFG. “We are most encouraged by our best Lower Footwall Zone intercept to date as it demonstrates high-grade continuity that we can effectively model and target. This is such an exciting time as the majority of holes drilled to date have been above 150 m depth and with the continuity we are outlining, there is significant potential for us to continue to grow the Montclerg gold system and make further discoveries across the Goldarm Property.”