Dear Shareholders, 

Snowline Gold Corp. (CSE: SGD | US OTC: SNWGF) has had an amazing first year. As we celebrate our first anniversary, we want to reflect on the achievements of the past 12 months and to share our plans as we prepare for what promises to be a transformative year ahead in 2022. 

Snowline began trading as SGD on the Canadian Securities Exchange on March 1, 2021.  Our core assets were seven carefully selected greenfield gold projects in Canada’s Yukon Territory. After listing, we immediately set to launch a safe, efficient, and effective field campaign during a pandemic, relying largely on local expertise and relationships with First Nations owned and partnered companies. 

Remarkably, our first two drill programs – both on never-before drill tested targets – resulted in two new and significant gold discoveries: Jupiter and Valley.  These discoveries serve as strong proof-of-concept towards our thesis of a new North American gold district within our project portfolio. Snowline’s momentum continues to build as we turn our data and exploration ideas into district-scale discovery. 

Highlights of our first year include: 

  • Recruitment of a strong, exploration-focused board and management team 
  • Discovery of the Jupiter epizonal orogenic gold system at Einarson, with drilled intercepts to 13.2 g/t Au over 6.5 m – often with multiple mineralized intercepts per hole – intersected across a 1.1 km strike length so far within a 3-km-long gold-in-soil anomaly 
  • Discovery of the Valley reduced intrusion related gold system (RIRGS) at Rogue, a bulk tonnage target with drilled intercepts to 1.25 g/t Au over 168.7 m on the edge of a newly discovered, kilometer-scale Fort Knox-style intrusion 
  • Advancement of additional primary targets towards drill readiness, including orogenic gold targets Avalanche Creek and Mars at Einarson and the RIRGS gold target Gracie at Rogue 
  • A safe and effective 2021 field season, with our planned 3,000 m drill program expanded to 5,100 m on positive results, 2,800 soil samples and 400 rock samples collected, 439 km VTEM flown at Ursa, and a 411 km aerial drone mag survey completed at Valley, all completed without serious injury nor illness amidst the COVID-19 pandemic 
  • A 47% increase in our land position to 104,000 ha through data driven staking and strategic property acquisition 
  • $15.8 M CAD raised on the back of our grassroots project portfolio, including strategic investments from Crescat Capital, Keith Neumeyer, Eric Sprott and Palisades Goldcorp 
  • $2.1 M spent with companies owned or beneficially partnered with the First Nation of Na-Cho Nyak Dun, upon whose Traditional Territories our flagship projects are located
  • Creation of new assets and shareholder value through discovery, with an increase in Snowline’s market capitalization of roughly 310% one year out from IPO.  
Figure 1 – Jupiter “Before”: At the beginning of 2021 field season, Einarson’s Jupiter zone was a recently identified, 3 km long float train of quartz boulders assaying up to 25.2 g/t Au, accompanied by a 3 km long zone of elevated to anomalous gold in soils.
Figure 2 – Jupiter “After”: The first ever drill testing of Jupiter yielded highly encouraging results, including these intersections (drilled widths) from diamond drill holes J-21-010 through J-21-013. Hole J-21-020, collared 1.1 km to the north, encountered visible gold and returned 8.3g/t Au across 4.7m, including 22.1 g/t Au over 1.1 m(drilled widths). That Jupiter is a “blind” target (very few outcrops, none mineralized) makes these results even more compelling, as they are random tests of a broader system rather than targeted shots within a known geological framework.

Figure 3 – Valley “Before”: Chip sampling conducted in 2012 by a previous operator returned 4.2 g/t Au over 4.7 m in Rogue’s Valley zone, with prospectors also noting the presence of sheeted quartz vein arrays. Despite these encouraging historical results, this and other gold targets at Rogue were returned to Snowline’s private precursor along with extensive regional data.
Figure 4 – Valley “After”: Snowline drilled the first ever holes into Valley, with four of four intersecting visible gold and broad zones of anomalous mineralization. Surface work delineated an associated, 900 m gold-in-soil anomaly as well as additional sheeted vein arrays associated with the intrusion.


While 2021 was a big year for us, we are just getting started. Snowline is well positioned with over $8.5 M in the treasury to build on our discoveries and take major steps forward in 2022. We are already well underway with preparations for the upcoming field season. Key pieces in place include a drill on site at our Valley target, a second drill under contract, and a permit secured for a new, centralized exploration camp that will allow for more cost-effective exploration. 

In the coming year, Snowline aims to: 

  • Build on our commitment towards environmentally and socially responsible exploration, with economic engagement of and open lines of communication and consultation with First Nations and Yukon communities 
  • Further consolidate our land position in our flagship district comprising the Rogue, Einarson, Ursa and Cynthia projects 
  • Drill at least 3,000 m at Jupiter and another 3,000 m+ with a second drill at Valley, with the dual objectives of understanding potential scales of the systems and controls on mineralization 
  • Drill at least 2,000 m in total on two or more on untested primary targets.
  • Advance additional primary targets to a drill-ready stage while showcasing the depth of our exploration portfolio 
  • Continue with regional surface work to identify and advance additional prospective areas and anomalies both on the ground and within in Snowline’s extensive regional database.  

And as always, we will be considering other strategic approaches towards increasing shareholder value, risk reduction and maximizing growth opportunities. 

Thank you for your support. We look forward to sharing with you the excitement of discovery and we continue to grow. 


Scott Berdahl, MSc, MBA, PGeo
CEO & Director

Craig Hart, PhD, FSEG, FGAC
Chair & Director  

For further information, please contact: 
Snowline Gold Corp. 
+1 778 650 5485

Figure 5 – Snowline Gold Corp.’s district scale land position in the eastern Selwyn Basin, with the locations of 2021 drill programs shown as gold stars. Despite what the Company believes to a highly prospective geological setting to host large gold deposits, the area has seen little historical exploration.


Information in this letter has been prepared and approved by Scott Berdahl, P. Geo., Chief Executive Officer of Snowline and a Qualified Person for the purposes of National Instrument 43-101. 


Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seven-project portfolio covering >100,000 ha. The Company is exploring its flagship 72,000 ha Einarson and Rogue gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’ Fort Knox mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. Snowline’s first-mover land position provides a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district. 


This letter contains certain forward-looking statements, including statements about the Company reviewing its newly acquired project portfolio to maximize value, reviewing options for its non-core assets, including targeted exploration and joint venture arrangements, conducting follow-up prospecting and mapping this summer and plans for exploring and expanding a new greenfield, district-scale gold system. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof. 

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Such factors include, among other things: risks related to uncertainties inherent in drill results and the estimation of mineral resources; and risks associated with executing the Company’s plans and intentions. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.