InvestmentPitch Media Video Discusses MAS Gold’s Results from Remaining 30 Diamond Drill Holes at North Lake Deposit in La Ronge Gold Belt Including 8.79 g/t Gold over 3.0 Meters

VANCOUVER, British Columbia, Aug. 10, 2022 (GLOBE NEWSWIRE) — MAS Gold Corp. (TSXV:MAS) (OTCQB:MSGCF) (FSE:63G) released results from the remaining 30 drill holes from its successful 2022 winter diamond drill program in Saskatchewan. MAS Gold, a Canadian mineral exploration company focused on advancing its gold exploration projects in the prospective La Ronge Gold Belt of Saskatchewan, operates six properties including the Preview-North, Greywacke Lake, Preview SW, Contact Lake, Elizabeth Lake, and Henry Lake Properties totalling 35,176 hectares or 86,921 acres. These properties extend along the geologically prospective La Ronge, Kisseynew and Glennie Domains that make up the La Ronge Gold Belt.

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These results include the remaining 22 holes from the North Lake Deposit which are highlighted by high-grade mineralization in the most southern hole, NL22-101 which reported 8.79 g/t gold over 3 meters and 7.0 g/t gold over 1.0 meter. Further evaluation of NL22-101 is planned to assist in developing an exploration strategy to follow up the high-grade results.

The table in the video shows all the results from the winter program at the North Lake Deposit, with the systematic infill drill program successfully intersecting near-surface gold mineralization at less than 50 meters below surface. This data will be used to upgrade the North Lake deposit resource model with a focus on near surface mineralization with open pit potential, bringing the company one step closer towards mine development.

Results from the remaining 4 holes at the Point Deposit show an extension by an estimated 295 meters to the south as well as down dip extension of the deposit. Drill hole RM22-060 intersected 3.00 g/t gold over 4.9 meters, including 6.65 g/t gold over 0.8 meters along strike to the south of the historic drill hole RM85-019. This is a notable discovery and confirms the potential to significantly expand this deposit. Drill hole RM22-057 successfully extended down dip mineralization intersecting multiple zones highlighted by 8.60 g/t gold over 2 meters including 14.50 g/t gold over 1 meter.

The four holes from the Preview SW Property were split between the Preview SW Deposit, with hole PR22-188 successfully intersecting multiple mineralized zones at depth highlighted by 13.40 g/t gold over 1.55 meters, 8.85 g/t gold over 0.7 meters and 9.47 g/t gold over 1.00 meter, and the Adit Zone which continued to intersect mineralization along strike, with hole PR22-109A reporting 6.55 g/t gold over 1.1 meters and 1.44 g/t gold over 4.2 meters.

Darren Slugoski, Chief Geologist, stated: “We are extremely excited by the positive results we have received from our winter drill program. Drill hole NL22-101 intersected on our North Lake deposit confirms a southern extension of the deposit as well as an additional potential high-grade zone. The results from the Point deposit demonstrates a strong potential for a significant upside with 295m of untested ground between the southern edge of the Point deposit and drill hole RM22-060. The Preview SW Deposit continues to be an integral spoke demonstrated by the gold grades intersected in PR22-188. Results from these thirty holes in the Winter Program at North Lake Deposit, Point Deposit and Preview SW Property have exceeded our team’s expectations as they help sling-shot MAS into further developing the Hub and Spoke Model.”

Jim Engdahl, CEO, added: “The winter drill results together with the acquisitions of the Preview SW Deposit and Contact Lake Mine allows MAS Gold to move towards restarting the PEA (Prefeasibility Economic Study) in 2023. Our North Lake Deposit continues to demonstrate feasibility of being the hub in MAS Gold’s Hub and Spoke model along with the Preview SW deposit and the Contact Lake Mine being the primary spokes. Management is extremely pleased with this latest round of thirty diamond drilling results.”

MAS Gold plans to provide a summary by late next week of the entire Winter Drill program as well as an overview of our plans moving forward to increase our resource and develop the Hub and Spoke Model to create value for MAS Gold and its shareholders.

The company recently concluded a channel sampling program at its North Lake Deposit, which was successful in identifying and sampling the felsite unit up to five hundred meters along strike to the northeast of the North Lake Deposit. The felsite is known to host the North Lake Deposit which includes an Inferred Mineral Resource of 18,100,000 t grading 0.85 g/t Au, representing 494,000 contained ounces of gold.

The shares are trading at $0.075. For more information, including the resource estimates for both the Greywacke North and Preview SW deposits, please visit the company’s website at www.MASgoldcorp.com, contact Jim Engdahl, CEO, at 306-262-4964 or by email at [email protected]. For investor relations, contact Laurie Thomas, VP Investor Relations and Business Development at [email protected].

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