First-ever drilling begins at Evergold’s Holy Cross Au-Ag property in central British Columbia, The Canadian Business Journal

TORONTO, OCTOBER 4, 2022 (GLOBE NEWSWIRE) — Evergold (“ever gold” or “Company”) (TSX-V: EVER, OTC: EVGUF, WKN: A2PTHZ). The Company reports that it has mobilized geological staff to its 100% owned Holy Cross Gold/Silver property in central BC, ahead of a fully-funded plan to drill up to 2,500 meters I am happy that I can. Drilling is expected to begin by mid-month and follows recent geophysical and soil geochemical studies that have helped define the drilling target.

Kevin Keough, President and CEO, said: “Mining giants Noranda and Phelps Dodge were drawn to that massive alteration and geochemical anomaly at the time. Besides its geological merits, Holy Cross also has several major access, infrastructure and topographical advantages, namely drive-on access, new power lines under construction, Cross the Cross to the 12 million ounce blackwater deposit of Artemis Gold to the south for potential year-round drilling and news streams.”

About the Holy Cross Property

Readers are referred to the August 4, 2022 company news release for a more detailed discussion, including geochemical floor plans, preliminary geophysical target section views, and interpreted sedimentary models. please refer to.

The Holy Cross property hosts a very extensive and highly unusual silver-in-soil geochemical anomaly (See the August 4th news release. Figure 3) along with other bullion pathfinder elements, other elements lying along the NW trend are variable but generally strongly silicified and pyritized rhyolites that locally host veins. match the body. Gridded soil silver values ​​ranged from trace to as high as 19.4 g/t Ag for the company sampling and as high as 36.5 g/t Ag for the Phelps Dodge sampling, while soil gold values ​​ranged from trace to trace. to 719 ppb Au. Highest Au value of 2,912 ppb for company sampling and sampling by Phelps Dodge. Grab sample analysis is not necessarily representative of on-site mineralization, but 8.86 g/t Au for sampling by the company, 26.02 g/t Au for sampling by Noranda, and Phelps Dodge.

We attribute the observed extensive surface Au-Ag and pathfinder element anomalies, and siliceous-pyrite and clay alterations, to low-sulfidation hydrothermal gold-silver gold-silver, potentially associated with intact felsic intrusions. I interpret it as representing the upper layer of the system.the deep part of the system (Refer to Figure 1 of the August 4th news release)Test this theory by targeting attractive geophysical anomalies that produce down-dip or down-plunge of the best soil geochemical anomalies. (Refer to Figure 2 of the August 4th news release) It will be the focus of the upcoming drill 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 explorer 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 in 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 anticipate 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.

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