2021 Exploration Program At Champagne Gold Project Completed

TORONTO - Idaho Champion Gold Mines Canada Inc. reported the completion of the 2021 exploration program at the Champagne Gold Project near the city of Arco, Butte County, Idaho. Exploration was focused on testing the large, induced polarization (IP) anomaly comprising the prospective St. Louis-Reliance Corridor with a series of drill "fences". The program completed ten (10) diamond core holes totaling 3,432 meters - located along IP lines -3, -4 and -6. In addition, the Company expanded IP coverage by an additional 7,800 line meters in two lines over the northern extent of the St. Louis- Reliance Corridor.

Jonathan Buick, CEO, said, "The large scale of the IP anomaly discovered in 2020 warranted a rigorous drilling test, so we completed several drill fences across the shallower targets reported earlier this year. As we recently announced, the extent of alteration, sulfide mineralization, and veining is encouraging. We encountered disseminated and vein hosted sulfide minerals that indicate depth continuity to the mineral system. We are confident that the results from this drill program will improve our understanding of the zonation within this large geophysical anomaly and mineral system. The potential for both high-grade veins and porphyry style mineralization at Champagne is an excellent foundation for the continued growth of Idaho Champion."

The principal targets at the Champagne Project are the roots to the polymetallic sulfosalt-sulfide vein system and gold-silver vuggy silica/breccia bodies historically exploited at Mine Hill. Geologic mapping at Mine Hill found that the veins could be traced at the surface for distances ranging from 500 to 1,200 meters, totaling approximately four kilometers of cumulative prospective strike length.

Historic mining on the property by Bema Gold in the 1990s focused on gold-silver-bearing vuggy silica breccia bodies and clusters of veins covering an area of approximately 1,200 by 700 meters on Mine Hill. It is the interpretation of the Idaho Champion team based on its chemistry, alteration, and textural features that the Gold Hill mineralization is the upper-most part of a high-sulfidation system related to a porphyry copper intrusion at depth.

Core drilling and IP surveys carried out in 2020 revealed that the vein system and breccia bodies at Mine Hill had been sheared off at shallow depth along a flat-lying detachment fault and displaced a considerable distance in an eastward direction. Hence, the downward extent of the vein system and breccia bodies remains intact and concealed beneath cover rock overlying the detachment fault. The roots of the vein and breccia system may have significant depth extent, including possible bonanza grades so the depth extent of that system a worthwhile target to pursue. The 2020 IP survey defined a large IP anomaly west of Mine Hill and extending for 2,000 meters north-south and having widths up to 1,000 meters. The geophysical anomaly appears to have considerable depth extent (>800 meters).

While the northern and southern portions of the IP anomaly are concealed beneath 150 to 300 meters of cover rock, the central segment, which is approximately 1,200 meters long, is uplifted bringing the IP anomaly close to surface. The Idaho Champion team believes that the characteristics of the central portion of the IP anomaly fit well with the signature expected from the targeted sulfide-rich veins and breccias. A porphyry copper system at depth is an attractive target, but the associated veins and breccias overlying a porphyry system may host very attractive grades of polymetallic mineralization.