Evergold awaits analysis from first-ever drilling at Holy Cross Au-Ag property in central British Columbia, Canadian Business Journal

TORONTO, November 9, 2022 (GLOBE NEWSWIRE) — Evergold (“ever gold” or “Company”) (TSX-V: EVER, OTC: EVGUF, WKN: A2PTHZ). The Company is pleased to announce that the first drilling program at our 100% owned Holy Cross Gold/Silver property in the heart of British Columbia has successfully completed on time and on budget with a total of four holes We are happy to report that 1,556 meters have been completed. (Figures 1, 2, and 3 below). Excavate targeted geophysical anomalies consistent with soil geochemical anomalies within the very large Holy Cross target area footprint. Systems at depth (Figure 1) See news release dated August 4Significant spacings between sulfide-mineralized rhyolite breccia and quartz stockwork veining were (locally) significantly elevated in noble metal pathfinder elements measured in situ by X-ray fluorescence (XRF). An accompanying value is observed at hole HX22DH02, notably the program’s final hole, HX22DH04, about 600 meters west of HX22DH02 hole. Assay results will be announced once received and evaluated, but he is currently scheduled for the first quarter of 2023.

Kevin Keough, President and CEO, said: “As I said before, the property has a lot of potential: promising geology, vehicle access, a new powerline under construction across the 12 million ounce Blackwater deposits of Holy Cross and Artemis Gold, And a mild terrain considering the potential year round drilling and the news flow.We now believe there are further benefits and look forward to receiving the analytical results from this drilling program.”

Quality assurance and quality control

The Company’s Chief Exploration Officer, Charles J. Greig, P.Geo., a qualified person as defined in NI 43-101, has reviewed and approved the technical information in this news release.

About Evergold

Evergold Corp. is a Canadian mineral exploration company with three wholly owned precious metals projects in British Columbia (Golden Lion, Holy Cross and Snowball) and one optional project in Nevada (Rockland) . The company’s operations have been proven by a track record of successful exploration, most recently with the formation of GT Gold Corp. in 2016 and the discovery (See SEDAR/news, 25 July and 15 December 2017 respectively) the Saddle South hydrothermal and Saddle North porphyry copper-gold deposits near Iksto, BC, containing more than 20 million ounces of gold equivalents across all categories (Saddle North NI 43-101 Technical Report, August 20, 2020). GT Gold was acquired by Newmont Corporation in 2021.

For more information, please contact:

Kevin M. Keough
Representative Director and President
Phone: (613) 622-1916
www.evergoldcorp.ca
[email protected]

Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains certain “forward-looking statements” that do not consist of historical facts. Forward-looking statements include estimates and statements that describe our future plans, objectives, or goals, including language to the effect that we or management expects the stated conditions or results to occur. . Forward-looking statements “believe,” “expect,” “anticipate,” “estimate,” “could,” “could,” “would,” “will.” , or by terms such as “plan”. Forward-looking statements are based on assumptions and address future events or circumstances and, therefore, are inherently subject to risks and uncertainties. These statements are based on information currently available to us, but there is no guarantee that actual results will meet management’s expectations. Due to the risks, uncertainties and other factors associated with forward-looking information, actual events, results, performance, prospects and opportunities may not be expressed or implied by such forward-looking information. can vary greatly. Forward-looking information in this news release includes our objectives, goals or future plans, statements, exploration results, mineralization potential, mineral resource estimates, exploration and mine development plans, and timing of commencement of operations. include, but are not limited to: and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include failure to identify mineral resources, inability to convert estimated mineral resources to reserves, and recommended production decisions. including, but not limited to, the inability to complete a feasibility study. the provisional nature of metallurgical test results; delays or failures in obtaining required governmental, environmental or other project approvals; political risks; the inability to predict and counteract the impact of COVID-19 on the Company’s business; This includes the impact of COVID-19 on commodity prices, capital market conditions, labor force, international travel, supply chain restrictions, and uncertainties regarding funding availability and costs. Not limited. Future required stock market changes, inflation, exchange rate changes, commodity price volatility, delays in project development, capital and operating costs materially different than estimated, and the mineral exploration and development industry. Other risks associated with and those risks described in our public documents filed with SEDAR. Although we believe that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, we make no such assumptions that apply only as of the date of this news release. You should not place undue reliance on information. Such events are assumed to occur within the disclosed time or not at all. We disclaim any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

Figure 1: Holy cross drilling in the geochemistry and geology of silver-bearing soils.
https://www.globenewswire.com/NewsRoom/AttachmentNg/e5a3fd92-127b-43af-89d5-e1b36a795d2f

Figure 2: Holy Cross claim map showing roads, new powerline routes, and excavation sites
https://www.globenewswire.com/NewsRoom/AttachmentNg/1a81fc2d-faaa-4f94-b6e6-c8f633181110

Figure 3: Community, roads, power lines, and geographic location of the Holy Cross property in relation to the Blackwater Gold Project
https://www.globenewswire.com/NewsRoom/AttachmentNg/889d91c7-2f46-4775-990a-cefe7f7d9437

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