Additional Drill Pads Planned At Fondaway Canyon Gold Project

VANCOUVER - Getchell Gold Corp. reported that as part of the planned 2023 drill program to expand the Mineral Resource at the Fondaway Canyon gold project, the Company is applying for an additional twelve drill pads. The Fondaway Canyon gold project is host to a large, 'at surface' Mineral Resource Estimate (MRE) reporting: Inferred Mineral Resource of 38.3 million tonnes at an average grade of 1.23 g/t Au for 1,509,100 ounces of gold; and Indicated Mineral Resource of 11.0 million tonnes at an average grade of 1.56 g/t Au for an additional 550,800 ounces of gold.

"After three years of drilling and delineating a sizeable Mineral Resource 600 meters down dip from surface and 600 meters along strike, the gold mineralization remains fully open for further expansion. Exploration of these ample and very evident priority targets requires the Company to permit more drill pads than previously anticipated based on the past three years' drilling success," said Mike Sieb, President. "The 2023 drill program and drill hole sequencing will be finalized after permit approval is received."

Only 18 drill holes of the 27 that were drilled in the Central Area were used in the Mineral Resource Estimate due to the resource model data inclusion cut off in late September 2022. These 18 drill holes were responsible for a doubling of the Mineral Resource Estimate from historical levels. This highlights the impressive amount of mineralization intersected and demonstrates the consistency encountered across the 18 drill holes.

The balance of the drilling not included in the MRE, nine holes drilled in the latter half of 2022, all intersected substantive mineralization, fully supporting the mineralizing model and attest to the upside potential and strength of the Fondaway Canyon gold project.

The Mineral Resource Estimate (MRE) technical report for the Fondaway Canyon project in Churchill County, Nevada was filed in February. The MRE primarily conceptualizes an open pit mine model. The minor amount of contiguous mineralization currently extending beyond the open pit limits has been categorized for potential underground mining. The plan is to expand the mineralization to grow the mineral resource and, in the process, support a larger open pit model which can then convert the current underground mineral resources to open pit mineral resources.