Next set of assays reveal high-grade gold and significant resource expansion potential at Valley.

Snowline Gold Corp. Aug. 7 announced more significant drill results from its ongoing exploration campaign at Valley within the company's Rogue project in Yukon, Canada, including a remarkable 471.6 meters averaging 2.4 grams per metric gold from surface.

Holding seven prospective targets across the Yukon, Snowline's portfolio is split between its Rogue, Einarson, Ursa, Cynthia, and Olympus properties in the Selwyn Basin near Yukon's eastern border with Northwest Territories and the Tosh and Cliff projects closer to Yukon's western border with Alaska.

Work over the last several years has focused primarily on its flagship Rogue property, which hosts Valley, a reduced intrusion-related gold system (RIRGS) similar to that found at Kinross Gold's Fort Knox Mine in Alaska – but with substantially higher grades.

Kicking off the 2024 season in late May, the company outlined a 25,000-meter program between five drills that would see most of the work targeting Valley, with the balance assigned to an aggressive regional drill campaign to other targets.

As drills began turning, Snowline announced its inaugural mineral resource estimate for Valley, which was based on 27,911 meters of drilling from 68 holes over two years.

According to the latest calculation, Valley hosts 76 million metric tons of indicated resources averaging 1.66 grams per metric ton (4.05 million ounces) gold, plus 81 million metric tons of inferred resources averaging 1.25 g/t (3.26 million oz) gold at a cut-off grade of 0.4 g/t gold – a total of 7.3 million ounces with significant potential for expansion.

Aiming to get a better understanding of Valley, drilling was also planned to uncover a new at-surface, high-grade zone encountered the year before. Initial results from late July revealed mineralization that surpassed the expectations set by the recent mineral resource estimate.

"Our first two holes of the season at our Rogue project's Valley deposit underscore the strength and consistency of the deposit, particularly when it comes to high-grade, near-surface gold mineralization," said Snowline Gold President and CEO Scott Berdahl.

Highlights from the first two holes include:

• 449.7 meters averaging 1.77 g/t gold from surface in hole V-24-071, including 169.2 meters averaging 2.89 g/t gold from surface.

• 295.3 meters averaging 2.66 g/t gold from surface in V-24-072, including 100.8 meters averaging 4.67 g/t gold from surface, with 12 meters averaging 8.38 g/t gold from 58 meters.

While the initial results were impressive and align with mineralization previously identified at Valley, the latest drill results have surpassed expectations, ranking as the third and fourth highest holes in terms of contained gold from the deposit to date.

Snowline Gold Corp.

A cross-section showing drill holes V-24-073 through V-24-075 within the Valley deposit's initial mineral resource estimate and pit shell constraints.

Highlights from these results include:

• 471.6 meters averaging 2.38 g/t gold from surface in hole V-24-075, including 302.1 meters averaging 3.2 g/t gold from surface, with 22 meters averaging 6.48 g/t gold from a depth of 160 meters.

• 325 meters averaging 2.57 g/t gold from surface in V-24-073, including 136 meters averaging 4.84 g/t gold from surface, with 33 meters averaging 7.08 g/t gold from 55 meters.

"We had extremely high expectations for these latest holes at Valley, and they did not disappoint," said Berdahl. "Based on the block model from our initial mineral resource estimate, we would expect a run of 448 metres averaging 2.1 g/t gold for hole V-24-075. We meaningfully exceeded this target in both length and grade, with the hole averaging 2.38 g/t gold over the top 471.6 metres from bedrock surface, and with an interval internal interval of 6.48 g/t gold over 22 metres from 160 metres downhole exceeding the grade of anything we had predicted."

These exceptional results underscore the potential for significant resource expansion at Valley, reinforcing the geological model and highlighting the continuity of high-grade mineralization within the deposit.

"The results exceed the block model most dramatically outside of the current resource estimate boundary," the Snowline CEO added. "We expect that this demonstration of robust continuity and of viability in our modelling will assist with de-risking and upgrading mineralization, and it could potentially help to expand our resource-limiting pit shell, pending additional results from our ongoing drilling at Valley."

Out of the five drills currently active, three are focused on Valley, with the other two allocated to various targets across Snowline's properties. With approximately 13,600 meters of the planned 15,000 meters for Valley completed, drilling continues to advance at the company's flagship target.

Observations of visible gold and quartz vein arrays have been noted both within and beyond the boundaries of the current mineral resource estimate at Valley. The company is awaiting further assay results from the ongoing drill campaign to determine the significance of these findings and their impact on the resource estimate.