RC Drilling Program At The Palmetto Gold Project

VANCOUVER - Smooth Rock Ventures Corp. reported on the 2022 reverse circulation (RC) drill program at the 100% owned Palmetto Gold project, located in Esmeralda County, Nevada, within the southern portion of the Walker Lane gold trend. Drill hole SRV 22-09 returned 10.98 g/t Au over 9.2 meters, from a depth of 88.4 meters, including 18.87 g/t Au over 4.6 meters, from a depth of 89.9 meters. Drilling confirmed gold mineralization at Palmetto. SRV 22-09 was drilled over 32 meters west northwest of hole SRV 21-01 (see news release 6/3/2021) which returned 31.4 g/t over 6.5 meters from a depth of 85.3 meters, demonstrating the continuity and flat lying nature of the gold mineralization.

This initial 2022 RC drill program was hampered by drill rig breakdowns, extensive technical drilling issues with ground water, loose broken ground, and the inability of the drill crew to successfully mud any of the holes in order to reach the drill holes targeted depths. A total of seven holes were drilled, with none of the seven holes achieving their targeted depths, two of the seven holes drilled were abandoned before hitting bedrock. Subsequently, in lieu of the above, the Company ended the drill program early with only a total drilled footage of 2095 feet (638.5m) of a planned 5000-7500-foot drill program.

Though very difficult drill conditions were encountered in all of the holes drilled by the Company, resulting in poor to nonexistent recoveries, hole collapses, and so on, very significant gold mineralization was encountered in two holes, that did not even reach the intended target. It is notable that in SRV 22-09, the hole was abandoned at 99.1 meters, less than two meters below the gold intercept. Also, notable in hole SRV 22-05, having several intervals of low-grade mineralization throughout, ending in gold mineralization at the last sampled interval at a depth of 187.5 meters and subsequently abandoned due to poor drill hole conditions.

The results, though partial in nature, clearly demonstrate the presence of significant gold mineralization at the Palmetto Project. Although very difficult drill conditions were encountered throughout the drill program, the Company has gained considerable experience in determining the proper drill methods to be employed at the Project going forward. The Company is presently analyzing and sourcing a more appropriate type of drill rig and drill contractor and/or a combination there of, to drill at the Palmetto Project successfully and efficiently. The Company is planning a follow up drill program in later 2022 or early 2023, subject to drill contractor availability.