Goldcliff Reviews Kettle Valley Drilling

VANCOUVER, British Columbia, July 28, 2022 (GLOBE NEWSWIRE) — George Sanders, President of Goldcliff Resource Corporation (“Goldcliff” or the “Company”) (GCN: TSX.V, GCFFF: OTCBB PINKS) reports that all analytical results have been received for the five NQ size diamond drill holes (1,500m) completed in April 2022 on the Kettle Valley gold/silver (Au/Ag) project in southern B.C. This was a reconnaissance drill program conducted from the currently available infrastructure (logging roads). The wide spaced holes spanning 550 metres from north to south were drilled easterly at shallow angles (45 deg). The objective was to test a portion of the nearly one kilometre long, well defined north-south trending Au/Ag soil and rock geochemical anomaly.

Drilling provided important geologic information in the quest to locate a new epithermal gold/silver deposit. Epithermal Au/Ag deposits are structurally controlled with mineralization often occurring within discrete elevation ranges. All holes encountered one or more structures ranging from <1m up to 17.65m (core length). Structures often occur as brecciation along with strong silicification, carbonate alteration, and pyritization all indicative of intense hydrothermal activity.

The epithermal zones did not yield a “discovery intercept” and surprisingly did not carry significant precious metals, with Au/Ag values ranging from background to mildly anomalous. There were however, discrete mineralized sections such as in holes KV22-01 and KV22-05 near the southern end of the area tested. At 58.0m in hole KV22-01, a 1.50m interval assayed 0.257g/t Au and further downhole starting at 126.50m a 9.5m section graded 0.297g/t Au and 5.92g/t Ag. Contained within this interval is a 1.50m sample grading 1.272g/t Au and 11.42g/t Ag. In KV22-05 located 85m north a 1.50m interval at 48.5m downhole graded 0.237g/t Au and occurs near the same elevation as the upper intercept in KV22-01.

Although “epithermal type” structures were intersected the drilling may have been below the favourable elevations of such mineral systems. When viewed in section the drill holes were from 70 to over 250m below the Cliff Zone soil anomalies and bedrock mineralization.

All holes encountered “basement” granites and were terminated in these rocks. The granites vary in composition and texture, likely indicating different phases or pulses. All were fractured, often sericite altered, and contained local quartz-calcite veining but did not carry precious metals values.

Late in the program prospecting of mineralized epithermal breccia float led to the discovery of the bedrock source. Located at the current southern extent of the “Cliff Zone” a bedrock sample yielded 0.098g/t Au and 3.26g/t Ag. Prospecting revealed the Cliff Zone in this area has a potential east-west extent (width) of ~90m which is much more than seen elsewhere. This area is very significant not only for the size but that the zone appears to extend southerly beneath young volcanic cover.

As stated, the 2022 drilling program took advantage of existing logging roads and only utilized five of the Company’s twenty permitted drill sites. During the program the feasibility of constructing a drill access road to the top of the Cliff Zone was examined. This would allow any future exploration and drilling to be near the height of land, directly over the soil/rock geochemical anomalies, mineralized bedrock occurrences and in the potentially favourable elevation levels of the epithermal system. Goldcliff plans further detailed prospecting over the areas of soil/rock geochemical anomalies and mineralized bedrock occurrences.

QA/QC

The Company employed a quality assurance/quality control (QA/QC) program including the insertion of blanks, standards, and duplicates. Drill core samples were cut longitudinally using a diamond-blade rock saw. Half of the core was collected in labelled and tagged poly bags that were sealed with single use ties. The remainder of the core was retained in the original core box for permanent storage. Most sample lengths ranged from 1 to 2 metres and were controlled by mineralization, alteration and lithologic and/or structural contacts. Core samples were delivered to a commercial shipper in Kelowna for transport to MSA Labs in Langley, BC.

MSA Labs is an analytical facility that meets the requirements of AC89, IAS Accreditation Criteria for Testing Laboratories and has demonstrated compliance with ISO/IEC Standard 17025:2017.

Sample preparation (Method PRP-910) involves drying, crushing to 70% passing 2mm splitting off 250 grams which is then pulverized to 85% passing 75 microns. Forty gram samples were digested by 1:1 Aqua Regia and analyzed by multi-element ICP-AES/MS (Method IMS112). Samples reporting >100 ppb gold were Fire Assayed using a 30 gm sample.

CORPORATE MATTERS

At the Company’s Annual General Meeting held April 28, 2022 all items were passed including approval by shareholders of the Company’s Rolling 10% Stock Option Plan.

Warner Gruenwald, P. Geo., a qualified person as defined by National Instrument 43-101, has approved the technical content of this news release.

For further information, please contact George W. Sanders, President, at 250-764-8879, toll free at 1-866-769-4802 or email at [email protected].

GOLDCLIFF RESOURCE CORPORATION

Per: “George W. Sanders”

George W. Sanders, President

Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or the accuracy of this news release.


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