New reduced-intrusion related gold system, “Celestic,” discovered at surface roughly 27 km from Valley and 5 km from existing heavy equipment winter trail
Discovery highlighted by selective grab samples of up to 11.7 g/t Au and an outcrop chip sample of 1.09 g/t Au over 4.0 m from zones of densely sheeted quartz veins exposed at surface
Snowline’s broader 2025 field program advancing ahead of schedule, with >11,000 m drilled to date on three targets alongside an expanded development-focused program to support future technical studies and permitting.
Vancouver, B.C., July 2, 2025: SNOWLINE GOLD CORP. (TSX-V: SGD) (US OTCQB: SNWGF) (the “Company” or “Snowline”) is pleased to announce discovery of a reduced-intrusion related gold system (“RIRGS”) on its Cynthia Project, Yukon, roughly 27 km southwest of its Valley gold deposit (“Valley”) on the adjacent Rogue Project (Figures 2&3). The “Celestic” target covers several zones of gold-bearing, densely sheeted quartz veins exposed in a 4.5 x 3 km granodiorite intrusion. Selective grab samples of quartz vein material returned up to 11.7 g/t Au, while a continuous 4.0 m chip sample across an exposed outcrop returned 1.09 g/t Au (Figure 1). Subject to additional follow up, the Celestic target may see initial drilling in 2025 as Snowline advances its largest field program to date.
“That we are still finding large, exposed, untested, and previously unknown reduced-intrusion related gold systems near our flagship Valley deposit highlights the underexplored nature of this prospective district,” said Scott Berdahl, CEO & Director of Snowline. “I would like to commend Snowline’s field teams for their ongoing work in advancing and expanding our pipeline of regional targets on our 100%-owned, 3,600 km2 Yukon mineral claim position. We are excited by the demonstrated fertility of this region as we continue to uncover compelling new targets, and of course by the opportunity to test these targets for the very first time.”
2025 FIELD PROGRAM UPDATE
Drilling: Snowline’s 2025 drill program is proceeding ahead of schedule, with five drills turning and over 11,000 m completed to date in 28 holes on three targets. Over 8,000 m of this drilling has been completed around Valley, primarily as step-outs sampling previously untested locations within the broader Valley intrusion and as infill drilling aimed at converting inferred mineral resources to indicated mineral resources or higher. Roughly 2,500 m has been completed at the Einarson Project’s Jupiter target. An additional 500 m has been completed as part of a Phase I drill program on the Einarson Project’s Neptune target, the first ever drill testing of a roughly 30 km zone of elevated to anomalous gold in talus fines and soils associated with a regional-scale faulted anticline. Subsequent regional drilling will focus primarily on RIRGS targets on the Rogue and Cynthia projects.
Valley Development: Snowline has expanded the scope of its 2025 field program to support advancement of Valley towards a Prefeasibility Study and permitting. The expanded program includes:
Surficial mapping, test pitting, sonic drilling and passive seismic surveying to characterize overburden around Valley and at potential infrastructure locations
geotechnical drilling to improve understanding of pit constraints
geochemical and metallurgical testing to inform processing refinements and reclamation considerations
hydrometric monitoring and hydrogeological testing to further characterize surface and groundwater
expanded wildlife surveying to inform permitting baselines, and
LiDAR surveying across the broader project footprint to inform engineering work.
CELESTIC TARGET, CYNTHIA PROPERTY
The Celestic target is a newly discovered RIRGS with a Valley-type signature characterized by quartz-sheeted veins hosted within a 4.5 x 3 km multiphase granodioritic intrusive. The target covers at least five areas of densely sheeted quartz veins. It is located roughly 1 km and 3 km southwest of Snowline’s “Intersection” and “Sydney” targets on its Cynthia Project, Yukon and 27 km southwest of Valley. The Plata winter trail, a potential future access route for Valley in the Rogue Project Preliminary Economic Assessment , runs within 5 km of the target.
Figure 1 – Site photos from Celestic, with locations A-D shown in Figure 2 below. A) 11.7 g/t quartz-carbonate vein specimen with associated bismuthinite. B-D) Outcrops of densely sheeted veins, with multiple overlapping vein orientations. A chip sample denoted by the red line across outcrop B (total length: 4.0 m) returned 1.09 g/t.
Regional geochemical sampling shows elevated to anomalous gold and bismuth values in stream sediments across multiple drainages originating from the intrusion. Follow-up prospecting revealed multiple zones of sheeted quartz veins typical of RIRGS mineralization, including a 500 x 400 m area with vein densities >10/m, often with multiple orientations present. Initial results are considered by the Company to be encouraging; of 74 samples taken, 14 returned >0.1 g/t Au, averaging 1.4 g/t Au. Continuous sampling yielded channel samples of 4.0 meters at 1.09 g/t Au, together with selective samples of bismuthinite-bearing quartz vein material assaying up to 11.7 g/t Au. The sheeted vein corridor, characterized by gold-bismuth-tellurium-tungsten anomalies, is open in all directions.
Figure 2 – Overview map of the Celestic target, located within a mid-Cretaceous aged granodiorite intrusion. Zones of densely sheeted veins occur over an area of at least 4 x 1.5 km within the broader corridor and remain open. Letters A-D denote photograph locations in Figure 1 above. The Intersection target is located immediately northeast of the intrusion and has seen limited historical (2010) drilling, but earlier prospecting efforts did not extend into the intrusion.
STOCK OPTIONS, DEFERRED SHARE UNITS AND RESTRICTED SHARE UNITS
Snowline also announces that it has granted a total of 300,000 stock options, 60,000 Deferred Share Units (“DSUs”), and 150,000 Restricted Share Units (“RSUs”) to certain employees and a director pursuant to its Omnibus Incentive Plan.
The stock options have an exercise price of C$8.64, vest 20% each six months starting six months from the grant date and expire after five years. The RSUs vest 100% in three years from the grant date. The DSUs vest immediately upon grant and are payable upon the holder ceasing to be a director of the Company.
Figure 3 – Project location map for Snowline Gold’s eastern Selwyn Basin projects: Rogue, Einarson, Ursa, Cynthia and Olympus. The Celestic target is located on the Cynthia Project, roughly 27 km southwest of Valley and 5 km northeast of the Plata Winter Trail.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration and development company with mineral claim portfolio covering roughly 360,000 ha (3,600 km2). The Company is advancing its Valley gold deposit—a large, low-strip, near surface, >1 g/t Au bulk tonnage gold system located in the eastern Yukon—while continuing regional exploration of surrounding targets on the Rogue Project and the broader district in the highly prospective yet underexplored Selwyn Basin.
Valley hosts an open mineral resource estimate of 7.94 million ounces gold at 1.21 g/t Au Measured and Indicated and an additional 0.89 million ounces gold Inferred at 0.62 g/t Au, as outlined in a May 15, 2025 news release[1]. Results of a preliminary economic analysis on Valley suggest the potential for the deposit to support a long-life mining operation with a strong production profile and low production costs, as outlined in a June 23, 2025 news release.
Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits across the central Yukon and Alaska. The Company’s comprehensive first-mover position and extensive exploration database provide a distinct competitive advantage and a unique opportunity for investors to be part of multiple discoveries, the advancement of a significant gold deposit, and the creation of a new gold district.
QUALIFIED PERSON
Information in this release has been prepared under supervision of and approved by Sergio Gamonal, M.Sc., P. Geo., Chief Geologist for Snowline Gold Corp, as Qualified Person for the purposes of National Instrument 43-101.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain forward-looking statements, including statements about the Company’s work programs, results, surface work, advancement of studies and permitting, mineral resource estimates, projected mining plans costs, projected life of mine, 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.
[1] See news release dated June 23, 2025 available under the Company’s profile at www.sedarplus.com and on the Company’s website at www.snowlinegold.com
[2]Mineral resources are not mineral reserves and do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by metal prices, economic factors, environmental, permitting, legal, title, or other relevant issues. The mineral resource estimate has a cut-off grade of 0.30 g/t gold.
One of the largest undeveloped gold deposits in Canada: PEA projected life of mine (“LOM”) payable production of 6.8 million ounces of gold (“Au”) over 20 years
Significant production and high margins: 544koz annual average Au production at all in sustaining costs (“AISC”)[1] of US$569/oz[2] Au for the first five full years of production
Robust economics: C$3.37 billion post-tax net present value at a 5% discount rate (“NPV5%”) at US$2,150/oz Au, increasing to C$6.80 billion at US$3,150/oz Au[3],
Compelling returns with significant leverage to gold: 25% post tax internal rate of return (“IRR”) at US$2,150/oz Au, increasing to 37% at US$3,150/oz Au
Rapid payback of initial capital expenditures: C$1.7 billion initial capital paid back over 2.7 years at US$2,150/oz Au, decreasing to 2.1 years at US$3,150/oz Au
Gaining momentum: Fieldwork and engineering studies are underway on site to inform future technical studies, alongside extensive regional exploration and drilling aimed at complementary, district-scale discovery.
Vancouver, B.C., June 23, 2025: SNOWLINE GOLD CORP. (TSX-V: SGD) (OTCQB: SNWGF) (the “Company” or “Snowline”) is pleased to announce results from its Preliminary Economic Assessment (“PEA” or the “Study”) for its Valley gold deposit (“Valley”) on its 100%-owned Rogue Project in Canada’s Yukon Territory. The PEA is a conceptual study of the potential economic viability of Valley’s mineral resources and the first economic assessment of any kind on the broader Rogue Project. The Rogue Project and broader infrastructure work considered by this PEA overlaps with Traditional Territories of the First Nation of Na-Cho Nyäk Dun, the Ross River Dena Council and Kaska Nation.
The PEA envisions a conventional open pit mining and milling operation for Valley with a projected 20-year LOM producing 6.8 million ounces (Moz) of payable gold with a front-weighted production profile and attractive economic parameters.
“This PEA reinforces our conviction that Valley can become a world class mining operation developed at a high standard, with clear potential to bring significant economic benefits to the Yukon,” said Scott Berdahl, CEO & Director of Snowline. “The rare combination of high margins and large scale makes for a robust asset with stability through a wide range of market conditions. The low strip ratio and strong gold grades enhance project economics by increasing mining efficiency while reducing the overall project footprint.”
[1] AISC are the sum of operating costs, off-site costs, 1% NSR payments, sustaining capital costs and progressive reclamation costs (C$13M), divided by payable gold ounces produced. AISC excludes closure costs and any post-closure costs. Refer to the “Non-GAAP Financial Measures” section of this news release for more information.
[2] Based on an exchange rate of 1.40 CAD per 1.00 USD.
[3] Sensitivities apply to the financial model only; pit selection, cut-off grade and processing schedules remain based on a US$1,950/oz gold price and would likely be redesigned to optimize for significantly higher or significantly lower gold price scenarios.
“These results are a testament to the quality of the Valley deposit and to the hard work of Snowline’s team. In less than four years, we’ve gone from soil sampling and Valley’s first drill holes to a significant conceptual NPV. This serves as an important milestone as we continue to press forward on multiple fronts to efficiently and responsibly move Valley forward. Multiple field studies to support advanced technical studies are now underway on site, alongside environmental baseline work to inform future assessment and permitting. Combined with our ongoing regional exploration, we are excited by the path ahead and the opportunity to advance an important new contributor to the Canadian gold mining landscape.”
PEA OVERVIEW
When available, readers are encouraged to read the PEA in the Company’s technical report (“Technical Report”) prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“43-101”) in its entirety, including all qualifications, assumptions and exclusions that relate to the PEA and mineral resource model. The Technical Report is intended to be read as a whole, and sections should not be read or relied upon out of context.
The PEA envisions a conventional open pit mining and milling operation with a nameplate processing capacity of 25,000 tonnes per day. Annual gold production averages 544,000 ounces per year during the first five full years, and 341,000 ounces per year over the 20-year LOM. Table 1 presents key operating and financial highlights from the PEA, using base study case assumptions of US$2,150/oz gold and a foreign exchange rate of 1.40 CAD per 1.00 USD for economic analysis. Mine design and associated production schedules are based on a US$1,950/oz gold price. Figure 1 presents annual gold production and AISC over the LOM.
MINERAL RESOURCE ESTIMATE
On May 15, 2025 the Company announced an updated mineral resource estimate (the “MRE”) for Valley[5].
The PEA is based on the MRE, which comprises 7.94 million ounces of gold averaging 1.21 g/t Au in the measured and indicated categories and an additional 0.89 million ounces gold averaging 0.62 g/t Au in the inferred category, based on roughly 53 km of drilling completed by the end of 2024. Note that the PEA production profile is based on a subset of the MRE (revenue factor 0.875 used for PEA vs. 1.0 used for MRE), and uses a higher cut-off grade (0.4 g/t Au PEA vs. 0.3 g/t Au MRE) on account of a lower gold price used in PEA pit design and processing (US$1,950/oz PEA engineering vs. US$2,350/oz MRE).
[4] Cumulative Net Free Cash Flow (“FCF”) is defined as gross revenue less 1% NSR payments, pre-production capital costs, operating costs, off-site costs, sustaining capital costs, taxes, progressive reclamation costs, and closure costs. Closure costs include active reclamation for five years following closure (C$159M) and a post-closure allowance of C$89M. Refer to the “Non-GAAP Financial Measures” section of this news release for more information.
[5] See news release dated May 15, 2025 available under the Company’s profile at www.sedarplus.com and on the Company’s website at www.snowlinegold.com.
MINING
The mine plan is based on conventional open pit truck-and-shovel methods with a mill processing capacity of 9 Mtpa over a 20-year LOM. Pit optimization using a gold price of US$1,950/oz selected a pit shell corresponding to a revenue factor of 0.875, which provides favourable geometry for phased pushbacks and access. The selected pit shell contains approximately 171 Mt of mill feed at 1.34 g/t Au and 186 Mt of waste, resulting in a strip ratio of 1.09:1. Note that the lower gold price used in pit design results in a higher cut-off grade versus the MRE (0.4 g/t Au PEA vs. 0.3 g/t Au MRE).
The mine schedule is phased to prioritize higher-grade feed in early years, supporting strong early cash flow (Figure 1). A mining bench height of 10 m was selected based on trade-offs between dilution control and equipment productivity. Haulage infrastructure includes dual-lane ramps and single-lane access for the last benches. Waste rock is primarily stored in the adjacent valley in the Waste Rock Storage Facility (“WSF”) with some used for infrastructure construction.
Drill-and-blast operations are required for both waste and mill feed, while overburden is expected to be free-dig. The mine fleet consists of 24 m³ shovels, 139 t trucks, and associated support equipment sized to meet total material movement requirements.
METALLURGY & PROCESSING
The PEA envisions a 25,000 tonne-per-day processing facility based on a standard metallurgical flowsheet, consisting of grinding, gravity separation and carbon-in-leach (CIL) followed by cyanide (CN) detox to produce gold doré (Figure 3). No heap leaching will be used in the project. Metallurgical testing indicates clean, non-refractory gold mineralization. Average gold recovery is estimated at 92.2% for the PEA.
OFF-SITE INFRASTRUCTURE
Year-round road access to site is envisioned for the PEA, with the main development components comprising a bridge over the Pelly River, upgrades to the existing government-maintained North Canol Road, and 130 km of new road linking the North Canol Road to site. This new road primarily follows the route of the existing Plata Winter Trail (Figure 5).
ON-SITE INFRASTRUCTURE
The site layout comprises the process plant, fuel and power infrastructure, water and tailings storage facility, camp accommodations, an airfield, waste storage facilities, and administrative buildings. Infrastructure is grouped to minimize haul distances and optimize operations.
A short term 750-person camp is envisioned to support mining infrastructure and tailings storage facility (“TSF”) construction, followed by a 250-person camp to support mining operations. Facilities include administrative offices, warehouses, maintenance shops, medical and environmental services, and an incinerator.
A dedicated 1,400 m long airfield is envisioned for crew rotation and select supply delivery. Costing includes support facilities for fuel storage and runway maintenance. Helicopter access would support emergency response and select logistics needs.
For the PEA, all power is assumed to be generated on-site using diesel generators. The installed capacity is 60 megawatts to meet a total demand of 36 megawatts. Five units of twelve megawatts each are planned, with potential integration of waste heat recovery systems.
TAILINGS MANAGEMENT
The location of the TSF was evaluated in accordance with geotechnical, water catchment, and environmental criteria. The embankments would be constructed using geosynthetic liners, with systems for seepage collection and staged construction. The design also considers water management strategies for both the operational and closure phases. Ongoing technical studies and field investigations will inform future refinement of location and design.
WATER MANAGEMENT
The water management system envisioned for the PEA separates contact water from non-contact water. Non-contact water is redirected away from site infrastructure using diversion channels. Contact water, primarily from the pit and WSF will be collected in a central pond and treated as required prior to discharge. Water from the TSF is recycled for processing with surplus water being treated as required prior to discharge. Given the uncertain potential for metal leaching (“ML”) and acid rock drainage (“ARD”) in the waste rock, the PEA conservatively assumes that water treatment will be necessary. This water management system is designed to support both ongoing operations and compliance following closure.
CAPITAL COSTS
The major components of pre-production capital are estimated at C$1,685M, including a contingency of C$246M. These costs are summarized in Table 3. Infrastructure costs include C$84M (before contingency) for upgrades to the government-maintained North Canol Road and a new bridge over the Pelly River near the existing highway connection at Ross River. The total construction period, including construction of year-round road access to site, is estimated to be 3.5 years.
Sustaining capital over the LOM is estimated to be C$1,424M, including a contingency of C$40M. Progressive reclamation and active closure costs are estimated to be C$261M, which includes a post-closure allowance of C$89M.
OPERATING COSTS
Operating costs are anticipated to average C$37.09/tonne processed, as outlined below in Table 4. Costs were estimated using industry benchmarking to comparable projects, as well as PEA level estimates of the key consumables, such as diesel consumption, reagents and power.
AISC, which include operating costs, off-site costs, a 1% net smelter royalty (“NSR”), sustaining capital costs and progressive reclamation costs, are presented in USD. Using the US$2,150/oz study price, AISC average is US$844/oz produced LOM (6.8 Moz produced), including US$569/oz produced during the first five full years of operation (2.7 Moz produced).
ECONOMIC ANALYSIS
The PEA provides an after-tax NPV5% of C$3.37 billion, an IRR of 25% and a payback period of 2.7 years from first production at a gold price of US$2,150/oz and an exchange rate of 1.40 CAD per 1.00 USD. Table 6 presents the sensitivity of after-tax NPV5%, IRR, payback period, cumulative FCF and average annual FCF to changes in the gold price. It should be noted that sensitivities apply to the financial model only; pit selection, cut-off grade and processing schedules are based on a US$1,950/oz gold price and would likely be redesigned to optimize for significantly higher or significantly lower gold price scenarios.
PROJECT TIMETABLE AND NEXT STEPS
Snowline intends to efficiently advance the Valley deposit through efforts in four key areas, as outlined in Figure 4 below.
[6] Average Annual FCF is for LOM years 1-20 and is defined as Cumulative Net FCF, excluding pre-production capital costs and closure costs. Refer to the “Non-GAAP Financial Measures” section of this news release for more information.
Valley is located in the traditional territory of the First Nation of Na-Cho Nyäk Dun, with proposed site access also within the traditional territories of the Ross River Dena Council and Kaska Nation. The foundation of project advancement comes from ongoing engagement throughout all stages of project exploration, scoping, planning and baseline work. Through continued open communication and collaboration, the Company intends to design and advance Valley in a responsible, sustainable and ultimately beneficial manner.
The next technical study is expected to be a pre-feasibility study (“PFS”) for the Rogue Project, focused on Valley. Fieldwork to support a PFS has recently commenced, and will include geotechnical drilling, groundwater characterization and monitoring, surface material characterization supported by lidar surveying and sonic drilling, and broader geochemical characterization of geological materials. Drilling is also underway at Valley that is planned to convert current inferred mineral resources to indicated mineral resources or higher, so that they may be considered in a PFS.
Preliminary environmental baseline monitoring began at Valley in October 2022. Over the coming months, the Company plans to expand the scope of these baseline studies, both spatially and by discipline to encompass a broader range of data types, to provide a holistic picture to inform future permitting.
OPPORTUNITIES AND EXPLORATION POTENTIAL
The PEA is an initial, conceptual evaluation of a mining scenario at Valley. While care has been taken to provide accurate estimates and realistic assumptions, the preliminary nature of the Study provides opportunities for further refinements of the operation that could potentially improve the project’s technical and financial performance.
Resource Expansion & Satellite Deposits: The Valley gold deposit remains open in multiple directions, with open edges to the current resource, large volumes of the host intrusion still untested by drilling, and areas of gold mineralization encountered in drilling that are outside of the current resource and the PEA mine plan. Exploration drilling within the surrounding intrusion is currently underway. On a broader scale, the Rogue plutonic complex hosts multiple additional gold-bearing intrusions with the potential to host Valley-style mineralization. Surface exploration and drilling of multiple such targets are planned for the 2025 field season.
Throughput, Phasing & Cutoff Optimization: The PEA uses mine life and NPV as primary factors in determining mining rate and mill throughput, and assuming a constant milling capacity of 25,000 tonnes per day throughout the LOM. Scaling up LOM throughput would increase annual gold production, accelerating cash flows and thus potentially increasing NPV at the expense of mine life, while increasing initial capital expenditures.
Similarly, increasing mill throughput following Year 5 could conceptually increase annual production rates to more than 500,000 oz/year throughout the entirety of a shorter LOM, but the technical feasibility of this increase requires further study, and it would add capital costs that could potentially offset gains from accelerated cash-flow.
Outside of throughput considerations, using a higher cutoff grade would result in higher overall margins per ounce and—given the near-surface distribution of the highest grades in the deposit—reduced LOM stripping ratios, but doing so would result in a smaller production profile and a shorter LOM.
At present, such trade-offs have not been studied in detail. These factors will be analysed to inform future technical studies and planning.
Infrastructure Support: Capital expenditures in the PEA assume requisite upgrades to public infrastructure along the Yukon’s North Canol Road—which provides access to a number of important resource projects—are borne entirely by the Rogue Project. Presently, the Canadian Government’s Critical Minerals Infrastructure Fund has allocated initial capital to study potential road upgrades, bridge construction and power transmission along this infrastructure corridor. Given the public nature of the road and the presence of multiple resource companies in the region, the assumption that all expenditures would be borne by the Project is thought to be conservative.
Power Optimization: On-site diesel power generation is assumed for the PEA. For future technical studies and project planning, additional work will be conducted to review the relative impact of various alternative options.
Closure Costs: A conservative approach has been taken with respect to progressive reclamation, closure costs and post-closure reclamation work. Where uncertainties exist, financial allowances for worst-case scenarios have been made. Planned future work may provide further clarity which could eliminate any unneeded expenditures.
STUDY NOTES
Snowline retained SRK Consulting (Canada) Inc as lead consultants, along with additional independent contractors, to prepare the PEA in accordance with NI 43-101.
The PEA is based on the most recent (May 15, 2025) MRE for Valley, comprising 7.94 million ounces gold averaging 1.21 g/t Au in the measured and indicated categories and an additional 0.89 million ounces gold averaging 0.62 g/t Au in the inferred category, based on roughly 53 km of drilling completed by the end of 2024. Notably, approximately 95% of gold production in the PEA comes from mineral resources that are currently classified as measured and indicated. The effective date of the PEA is March 1, 2025, and the Technical Report will be filed on the Company’s website and under its SEDAR+ profile within 45 days of this news release.
The PEA is preliminary in nature and includes inferred mineral resources (approximately 5% of total mineral resources) that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the PEA will be realized.
CONFERENCE CALL DETAILS
The Company will host a conference call to discuss the results at 6:00 am PDT / 9:00 am EDT on Tuesday June 24, 2025. The details are below:
To participate in the conference call, please use the following dial-in numbers and request to join the Snowline Gold Corp call:
Participant Telephone Numbers: Canada/USA Toll Free1-844-763-8274 International Toll +1-647-484-8814
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration and development company with an eight-project portfolio covering roughly 360,000 ha (3,600 km2). The Company is advancing its Valley deposit—a large, low-strip, near surface, >1 g/t Au bulk tonnage gold system located in the eastern Yukon—while continuing regional exploration of surrounding targets on the Rogue Project and the broader district 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 across the central Yukon and Alaska. The Company’s comprehensive first-mover position and extensive exploration database provide a distinct competitive advantage and a unique opportunity for investors to be part of multiple discoveries, the advancement of a significant gold deposit, and the creation of a new gold district.
QUALIFIED PERSONS
The following authors of the PEA are qualified persons for the purposes of NI 43-101 and the PEA-related information in this news release has been prepared under the supervision of and approved by them:
Bob McCarthy, P.Eng., SRK Consulting (Canada) Inc Ed Saunders, P.Eng., SRK Consulting (Canada) Inc Ignacio Garcia, P.Eng., SRK Consulting (Canada) Inc Mauricio Herrera, P.Eng., SRK Consulting (Canada) Inc Christina James, P.Eng., SRK Consulting (Canada) Inc Jeff Clarke, P.Geo., SRK Consulting (Canada) Inc Heather Burrell, P. Geo., Archer, Cathro & Associates (1981) Limited Steven C. Haggarty, P. Eng., Haggarty Technical Services Corp. Daniel J. Redmond, P. Geo., D Redmond Consulting and Associates
Additional scientific and technical information in this news release not specific to the PEA has been prepared under the supervision of and approved by Thomas Branson, M.Sc., P. Geo., Vice President of Exploration for Snowline, as qualified person for the purposes of NI43-101.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
USE OF NON-GAAP MEASURES
Certain financial measures referred to in this news release are not measures recognized under IFRS and are referred to as non-GAAP financial measures or ratios. These measures have no standardized meaning under IFRS and may not be comparable to similar measures presented by other companies. The definitions established and calculations performed by Snowline are based on management’s reasonable judgement and are consistently applied. These measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS.
The non-GAAP financial measures used in this news release and common to the gold mining industry are all-in sustaining cost per ounce of gold sold, and free cash flow.
All-in sustaining cost per ounce of gold sold and free cash flow are non-GAAP financial measures or ratios and have no standardized meaning under IFRS Accounting Standards (“IFRS”) and may not be comparable to similar measures used by other issuers. As Valley is not in production, the Company does not have historical non-GAAP financial measures nor historical comparable measures under IFRS, and therefore the foregoing prospective non-GAAP financial measures or ratios may not be reconciled to the nearest comparable measures under IFRS.
This news release contains certain forward-looking statements and forward-looking information (collectively, the “forward-looking statements”) within the meaning of applicable Canadian securities legislation, concerning the business, operations and financial performance of the Company. Forward-looking statements in this news release include, but are not limited to, the Company’s expectations and estimates with respect to: the economic and scoping-level parameters of the PEA and Valley; the anticipated timeline for completion of the Technical Report and potential PFS; mineral resource estimates; the cost and timing of any development of Valley; the proposed mine plan and mining methods; dilution and mining recoveries; processing method and rates; production rates; projected metallurgical recovery rates; infrastructure requirements; energy sources; capital, operating and sustaining cost estimates; the projected life of mine and other expected attributes of Valley; the NPV, IRR and payback period of capital; future metal prices; the timing of any engineering, environmental assessment or Indigenous consultation processes; the expansion of environmental baseline monitoring programs; changes to Valley configuration that may be requested as a result of stakeholder or government input; government regulations and permitting timelines; TSF; accessing to Valley and lodging; water management; estimates of reclamation obligations and closure costs; requirements for additional capital; environmental risks; future drill programs and general business and economic conditions.
Statements relating to “mineral resources” are deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions that the mineral resources described can be profitably produced in the future. Generally, forward-looking statements can be identified using forward-looking terminology. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “target”, “forecast”, “schedule”, “prospective”, “envision”, “continue”, “intend”, “assume”, “anticipate”, “believe”, “estimate”, “budget”, “predict”, “project” 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.
All statements other than statements of historical fact may be forward-looking statements. 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 the inherent uncertainties regarding cost estimates; the use of non-GAAP measures in financial performance accounting; changes in commodity and metal prices; currency fluctuation; financing; unanticipated resource grades and recoveries; infrastructure; results of future exploration activities; cost overruns; availability of materials and equipment; timeliness of government approvals; political risk and related economic risk; unanticipated environmental impact on operations; 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. Additionally, while the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. 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.
Vancouver, B.C., June 19, 2025: SNOWLINE GOLD CORP (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce the appointment of Rob Doyle to the Board of Directors and Calum Morrison, current Board member, as President. Mr. Morrison will continue to serve as a Director of the Company. In addition, the Company will release results of its Preliminary Economic Assessment (“PEA”) for Valley after market close on Monday, June 23, 2025, followed by a virtual presentation and question and answer session on Tuesday, June 24, 2025, at 9:00 am EDT.
As President, Mr. Morrison will assist in overseeing Snowline’s corporate activities, complementing the ongoing work of Scott Berdahl as Snowline’s CEO. This appointment, alongside the addition of Mr. Doyle to the Board, continues to build on Snowline’s commitment to maintaining strong technical and corporate leadership. Recent strategic additions to Snowline’s executive team include Victor Vdovin, MBA, P.Eng., as Vice President of Engineering, Oliver Curran, MSc, as Vice President of Environment and Permitting, and Lauren McDougall, CPA, as Chief Financial Officer.
“By expanding Calum’s role and responsibilities to President, and adding Rob to our Board, we continue to build stronger corporate and operational foundations for the Company as well as providing more capacity to grow as the Company’s mandate expands to encompass development. Both individuals have substantial corporate development, governance and capital markets experience that are increasingly important at this point in Snowline’s evolution,” said Craig Hart, Independent Board Chair.
ROGUE PROJECT PRELIMINARY ECONOMIC ASSESSMENT
Snowline is excited to share the results of the Preliminary Economic Assessment (“PEA”) for the Rogue Project’s Valley gold deposit. Information will be released after North American markets close on Monday, June 23, 2025. The Company will host a conference call to discuss the results at 6:00 am PDT / 9:00 am EDT on Tuesday June 24, 2025. The details are below:
To participate in the conference call, please use the following dial-in numbers and request to join the Snowline Gold Corp call:
Participant Telephone Numbers: Canada/USA Toll Free1-844-763-8274 International Toll +1-647-484-8814
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PROFESSIONAL BACKGROUNDS
Rob Doyle
Rob Doyle is a seasoned executive and board member with over 25 years of international experience in corporate finance, management, and capital markets. Over his career, Rob has developed a strong track record in equity and debt financing, negotiating complex transactions, and overseeing finance, treasury, tax, and accounting functions. Rob served as the CFO of Pan American Silver for 18 years, was a founding board member of Maverix Metals Inc and currently is a board member of Orezone Gold Corporation, Lithium Argentina and Faraday Copper. Recognized for his leadership excellence, he was awarded the BC CFO of the Year for large public companies by Business in Vancouver in 2019. Rob is a Chartered Accountant (South Africa), a Chartered Financial Analyst, and a member of the Institute of Corporate Directors.
Calum Morrison
Calum Morrison is a mining finance professional with nearly two decades of experience in business development, mergers and acquisitions, corporate strategy and capital markets, and was first appointed to Snowline’s Board of Directors in February 2023. Most recently, Calum was the Vice President of Business Development and CFO of Great Bear Resources Ltd., and the President and CEO of Great Bear Royalties Corp. Calum previously spent several years as a senior member of Teck Resources Limited’s corporate development team, providing financial and technical expertise to the evaluation of mining projects globally. He also has direct capital markets experience acquired with past investment banking roles at major investment firms. He is a Chartered Financial Analyst and a Chartered Professional Accountant.
ABOUT ROGUE
Snowline Gold’s 100%-owned, flagship Rogue Project, in Canada’s Yukon Territory, covers a 60 x 30 km cluster of intrusions in the eastern Tombstone Gold Belt known as the Rogue Plutonic Complex.
Since its launch in 2021, Snowline has progressed the Rogue Project’s Valley gold deposit from a greenfield prospecting discovery to a significant bulk tonnage gold resource, with a combined 7.94 Moz gold Measured and Indicated mineral resource at 1.21 g/t Au and an additional 0.89 Moz Inferred mineral resource at 0.62 g/t Au within a pit-shell constraint, as outlined in the Company’s May 15, 2025 news release[1].
Exploration of the open Valley gold deposit is ongoing. Valley is a reduced intrusion-related gold system (RIRGS), geologically similar to multi-million-ounce RIRGS deposits currently in production, like Kinross’s Fort Knox Mine in Alaska, but with substantially higher gold grades. Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays within and along the margins of a one-kilometer-scale, mid-Cretaceous aged Mayo-series intrusion.
[1] Above 0.30 g/t gold cut-off within 522 Mt total Material Shell. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by Metal Prices, Economic Factors, Environmental, Permitting, Legal, Title, or other relevant issues.
Figure 1 – Project location map for Snowline Gold’s eastern Selwyn Basin properties: Rogue, Einarson, Ursa, Cynthia and Olympus. The Valley gold deposit is one of a cluster of prospective reduced intrusion-related gold targets on the broader 30 x 60 km Rogue Project, within a broader emerging district almost entirely controlled by Snowline.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration and development company with an eight-project portfolio covering roughly 360,000 ha (3,600 km2). The Company is advancing its Valley deposit—a large, low-strip, near surface, >1 g/t Au bulk tonnage gold system located in the eastern Yukon—while continuing regional exploration of surrounding targets on the Rogue Project and the broader district 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 across the central Yukon and Alaska. The Company’s comprehensive first-mover position and extensive exploration database provide a distinct competitive advantage and a unique opportunity for investors to be part of multiple discoveries, the advancement of a significant gold deposit, and the creation of a new gold district.
QUALIFIED PERSON
Information in this release has been prepared under supervision of and approved by Thomas Branson, M.Sc., P. Geo., Vice President of Exploration for Snowline Gold Corp, as Qualified Person for the purposes of National Instrument 43-101.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain forward-looking statements, including statements regarding the progression of the Valley gold deposit past the exploration stage, the discovery potential within the Valley intrusion, the potential for investors to participate in multiple future discoveries, the Rogue Project having district-scale prospectivity, the creation of a new gold district and the Company’s plans and intentions. 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.
Vancouver, B.C., June 3, 2025: SNOWLINE GOLD CORP (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce the strengthening and expansion of its management team through the appointment of Oliver Curran, MSc, as Vice President of Environment and Permitting. Mr. Curran will lead and oversee the Company’s environmental baseline studies and assessments for advancement of permitting as the Valley gold deposit progresses.
“We are excited to welcome Oliver to Snowline’s senior management team,” said Scott Berdahl, CEO & Director of Snowline. “His experience permitting multiple mineral development projects in northern Canada is highly relevant to us in advancing our Valley gold deposit. His approach—incorporating traditional knowledge into actionable and effective environmental monitoring and permitting solutions—dovetails well with Snowline’s guiding principles. We look forward to working with Oliver in responsibly and efficiently advancing Valley.”
Mr. Curran brings 25 years of relevant environmental and major project permitting experience to Snowline, having held strategic leadership positions with Inco, Baffinland Iron Mines, TMAC Resources, Agnico Eagle Mines and most recently Centerra Gold. Oliver has successfully led permitting for significant remote greenfield mines and championed these projects through to construction and operations from an environmental and social perspective. Mr. Curran holds a Hons BSc in Biology and Environmental Sciences from Trent University and a MSc from the University of Toronto.
ABOUT ROGUE
Snowline Gold’s 100%-owned, flagship Rogue Project, in Canada’s Yukon Territory, covers a 60 x 30 km cluster of intrusions in the eastern Tombstone Gold Belt known as the Rogue Plutonic Complex.
Since its launch in 2021, Snowline has progressed the Rogue Project’s Valley gold deposit from a greenfield prospecting discovery to a significant bulk tonnage gold resource, with a combined 7.94 Moz gold Measured and Indicated mineral resource at 1.21 g/t Au and an additional 0.89 Moz Inferred mineral resource at 0.62 g/t Au within a pit-shell constraint, as outlined in the Company’s May 15, 2025 news release.
Exploration of the open Valley gold deposit is ongoing. Valley is a reduced intrusion-related gold system (RIRGS), geologically similar to multi-million-ounce RIRGS deposits currently in production, like Kinross’s Fort Knox Mine in Alaska, but with substantially higher gold grades. Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays within and along the margins of a one-kilometer-scale, mid-Cretaceous aged Mayo-series intrusion.
The Rogue Project area hosts multiple intrusions similar to Valley along with widespread gold anomalism in stream sediment, soil and rock samples. Elsewhere, RIRGS deposits are known to occur in clusters. For these reasons, Snowline considers the Rogue Project to have district-scale potential to host additional reduced intrusion-related gold systems.
Figure 1 – Project location map for Snowline Gold’s eastern Selwyn Basin properties: Rogue, Einarson, Ursa, Cynthia and Olympus. The Valley gold deposit is one of a cluster of prospective reduced intrusion-related gold targets on the broader 30 x 60 km Rogue Project, within a broader emerging district almost entirely controlled by Snowline.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration and development company with an eight-project portfolio covering roughly 360,000 ha (3,600 km2). The Company is advancing its Valley deposit—a large, low-strip, near surface, >1 g/t Au bulk tonnage gold system located in the eastern Yukon—while continuing regional exploration of surrounding targets on the Rogue Project and the broader district 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 across the central Yukon and Alaska. The Company’s comprehensive first-mover position and extensive exploration database provide a distinct competitive advantage and a unique opportunity for investors to be part of multiple discoveries, the advancement of a significant gold deposit, and the creation of a new gold district.
QUALIFIED PERSON
Information in this release has been prepared under supervision of and approved by Thomas Branson, M.Sc., P. Geo., Vice President of Exploration for Snowline Gold Corp, as Qualified Person for the purposes of National Instrument 43-101.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain forward-looking statements, including statements regarding the creation of a new arm of the Company, the progression of the Valley gold deposit past the exploration stage, the discovery potential within the Valley intrusion, the potential for investors to participate in multiple future discoveries, the Rogue project having district-scale prospectivity, the creation of a new gold district and the Company’s plans and intentions. 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.
Fully funded 2025 field campaign focuses on rapid advancement of the Valley gold deposit to inform potential future technical and economic studies and efficient permitting
Five drill, 30,000 m drill program launched, with 20,000 m dedicated to advancement and near-deposit exploration at Valley
Upwards of 10,000 m allocated for first pass and follow up drilling on at least five additional targets across the Rogue, Cynthia and Einarson projects, with a primary focus on RIRGS systems
Vancouver, B.C., May 20, 2025: SNOWLINE GOLD CORP. (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce that it has commenced its 2025 exploration, drilling and project advancement campaign on its flagship Rogue Project and surrounding exploration projects in Canada’s Yukon Territory. The primary objective of the campaign will be efficient, rapid advancement of the Rogue Project’s Valley gold deposit to inform potential future technical and economic studies and project permitting. This work includes 5,000 m of geotechnical and condemnation drilling, engineering studies, and expanded environmental monitoring. Complementing this is 25,000+ m exploration drilling at the Valley deposit and on multiple regional gold targets on the Rogue, Cynthia and Einarson gold projects.
“We’re excited to be back in the field, picking up again after a very big year in 2024,” said Scott Berdahl, CEO & Director of Snowline. “While the Valley gold deposit remains open to further expansion, the scale and the quality of the near-surface resource discovered to date make rapid advancement of the current resource a key value driver for Snowline. We are fortunate to own such an asset. We are working hard on multiple fronts to advance this opportunity for our shareholders towards feasibility studies while setting groundwork for successful project permitting. This is of course in addition to the significant exploration upside remaining in the vicinity of the Valley deposit and regionally in our surrounding, district-scale project portfolio, which we will continue to explore in 2025 with multiple drills on multiple targets. Combined with the upcoming Preliminary Economic Assessment for Valley, we have a lot to look forward to at Snowline in the weeks and months ahead.”
2025 PROGRAM PLANS
Valley:
Of the 30,000 m drilling planned for 2025, approximately 20,000 m will be allocated to advancing understanding of the Rogue Project’s Valley deposit. Roughly 15,000 m of this will be split between 1) exploration drilling within the Valley intrusion but distal to the current resource, targeting the potential for additional hot spots of gold mineralization within the intrusion, and 2) expansion and upgrading of the most recent mineral resource estimate for Valley (see Snowline news release dated May 15, 2025),. The remaining 5,000 m is allocated to geotechnical, condemnation and sonic drilling, seeking to better define parameters to inform detailed engineering studies in the near term.
Beyond drilling, work at Valley is planned to assess and optimize processing methods, to characterize overburden at the deposit and at possible future infrastructure locations, to improve knowledge of surface and groundwater hydrology around the deposit, and to expand environmental baseline surveying on multiple fronts. The work will inform potential technical and advanced economic studies for Valley while positioning the project for future project permitting.
Regional Exploration:
Fieldwork at Valley will be complemented by an intensive regional drilling and surface exploration campaign. Roughly 10,000 m exploration drilling will be allocated to regional targets on the Rogue Project outside of Valley, in addition to the Cynthia and Einarson projects, with an emphasis on reduced-intrusion related gold systems (RIRGS). This will include follow-up drilling on targets like Gracie—an intact RIRGS located roughly 4 km east of the Valley deposit—in addition to first-ever drill testing of multiple targets.
Extensive regional surface work will complement drilling efforts while advancing the numerous targets within Snowline’s exploration pipeline. A 2,500 km airborne magnetic survey will expand and enhance previous regional-scale surveys which are useful in detecting the presence of RIRGS-hosting intrusions, complemented by satellite hyperspectral data collection and interpretation. Field crews will conduct mapping, geochemical sampling and delineation work across much of the Snowline project portfolio. The early start to the 2025 exploration season will provide time during the field program for follow-up and potential Phase I drilling on select areas with promising results.
ABOUT ROGUE
Snowline Gold’s 100%-owned, flagship Rogue Project, in Canada’s Yukon Territory, covers a 60 x 30 km cluster of intrusions in the eastern Tombstone Gold Belt known as the Rogue Plutonic Complex.
Since its launch in 2021, Snowline has progressed the Rogue Project’s Valley deposit from a greenfield prospecting discovery to a significant bulk tonnage gold resource, with a combined 7.94 Moz gold Measured and Indicated mineral resource at 1.21 g/t Au and an additional 0.89 Moz Inferred mineral resource at 0.62 g/t Au within a pit-shell constraint, as outlined in the Company’s May 15, 2025 news release.
Exploration of the open Valley deposit is ongoing. Valley is a reduced intrusion-related gold system (RIRGS), geologically similar to multi-million-ounce RIRGS deposits currently in production, like Kinross’s Fort Knox Mine in Alaska, but with substantially higher gold grades. Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays within and along the margins of a one-kilometer-scale, mid-Cretaceous aged Mayo-series intrusion.
The Rogue Project area hosts multiple intrusions similar to Valley along with widespread gold anomalism in stream sediment, soil and rock samples. Elsewhere, RIRGS deposits are known to occur in clusters. For these reasons, Snowline considers the Rogue Project to have district-scale potential to host additional reduced intrusion-related gold systems.
Figure 1 – Project location map for Snowline Gold’s eastern Selwyn Basin projects: Rogue, Einarson, Ursa, Cynthia and Olympus. The Valley deposit is one of several prospective reduced intrusion-related gold system (RIRGS) targets on the broader 30 x 60 km Rogue Project, complemented by orogenic, Carlin-type, RIRGS and other sediment hosted gold targets on surrounding projects.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration and development company with an eight-project portfolio covering roughly 360,000 ha (3,600 km2). The Company is advancing its Valley deposit—a large, low-strip, near surface, >1 g/t Au bulk tonnage gold system located in the eastern Yukon—while continuing regional exploration of surrounding targets on the Rogue Project and the broader district 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 across the central Yukon and Alaska. The Company’s comprehensive first-mover position and extensive exploration database provide a distinct competitive advantage and a unique opportunity for investors to be part of multiple discoveries, the advancement of a significant gold deposit, and the creation of a new gold district.
QUALIFIED PERSON
Information in this release has been prepared under supervision of and approved by Thomas Branson, M.Sc., P. Geo., Vice President of Exploration for Snowline Gold Corp, as Qualified Person for the purposes of National Instrument 43-101.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain forward-looking statements, including statements about the Company’s work programs, results, surface work, advancement of studies and permitting, 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.
Updated Mineral Resource Estimate (MRE) for the Valley gold deposit, located on Snowline’s 100% owned Rogue Project in the Yukon Territory, Canada, shows substantial growth and de-risking from the previous, initial MRE in 2024:
Measured & Indicated Mineral Resources: 204 Mt at 1.21 g/t Au for 7.94 million ounces, a 96% increase in Measured and Indicated contained ounces*
Inferred Mineral Resource: 45 Mt at 0.62 g/t Au for 0.89 million ounces
Resource remains open to expansion along multiple limits of current drill testing, with potential for additional higher grade gold zones outside the current resource, as indicated by late 2024 drilling
Quality of resource highlighted by consistent conversion to higher categories, including 40% of total Measured and Indicated gold ounces now classified as Measured
Initial Preliminary Economic Assessment for Valley is well underway and expected to be finalized in the coming weeks
*Based on Indicated Mineral Resources of 4.052 Moz gold (76 Mt at 1.66 g/t Au), with no Measured Mineral Resources, in the previous MRE for Valley, supported by the technical report for Rogue entitled “Rogue Gold Project: NI 43-101 Technical Report and Mineral Resource Estimate,” authored by Heather Burrell, P. Geo., Daniel J. Redmond, P. Geo., and Steven C. Haggarty, P. Eng., with an effective date of May 15, 2024.
Vancouver, B.C., May 15, 2025: SNOWLINE GOLD CORP. (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to report an updated Mineral Resource Estimate (MRE) prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (NI 43-101) standards for the Valley gold deposit on its 100% owned, 1,110 km2 Rogue Project in Canada’s Yukon Territory.
“The updated mineral resource estimate for the Valley gold deposit is another positive milestone as we continue to uncover the full scale of this gold system,” said Scott Berdahl, CEO & Director of Snowline. “With just 53 km of drilling so far, we have discovered and substantially derisked a large, continuous, non-refractory gold deposit exposed at surface, in an underexplored region with multiple large greenfield gold anomalies and recent prospecting discoveries. Importantly, a considerable majority of the known system at Valley has been upgraded into Measured and Indicated categories, which can be used to inform pre-feasibility and feasibility studies. We are excited to kick off our 2025 field season in the coming days, with the goals of rapidly advancing and expanding Valley alongside continued exploration and drill testing of regional targets.
“We are also pleased to report significant progress on the Preliminary Economic Assessment for Valley, which will be based on this updated MRE. We anticipate completion and release of this study in the coming weeks.”
INITIAL MINERAL RESOURCE ESTIMATE OVERVIEW
The updated MRE for the Valley deposit is prepared in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards incorporated by reference in NI 43-101. The MRE contains Measured Mineral Resources of 69.7 million tonnes (Mt) at 1.41 grams per tonne gold (g/t Au) for 3.15 million ounces (Moz) gold and Indicated Mineral Resources of 134.3 Mt at 1.11 g/t Au for an additional 4.79 Moz gold, in addition to Inferred Mineral Resources of 44.5 Mt at 0.62 g/t Au for 0.89 Moz gold (Table 1) using a 0.3 g/t Au cut-off grade. The estimate is based on 52,736 metres (m) drill data from all 123 holes at Valley drilled to date. Work underway on a Preliminary Economic Assessment (PEA) will assess Snowline’s view that Valley has strong potential to host a long-life, high-quality gold mine.
Table 2 highlights the relatively low sensitivity to cut-off grades in the updated MRE for Valley, demonstrating a resilience to increases in costs assumptions and to decreases in the price of gold. Using the current cost estimations, for example, the break-even price of gold for the 0.6 g/t Au cut-off would be US$1,225 per ounce.
Further details regarding this updated MRE including the estimation methods and procedures will be detailed in an updated NI 43-101 Technical Report which will be filed on SEDAR+ (www.sedarplus.ca) following the completion of the forthcoming Valley PEA.
Figure 1 – Cross section 31 through Valley initial MRE block model. A large zone of continuous, >2 g/t Au mineralization is present from surface within a larger, continuous halo of mineralization.Resource blocks are 10 x 10 x 5 m. Only blocks above cutoff grade of 0.3 g/t Au located within the resource-constraining shell are included in the updated MRE for Valley – none of the mineralized blocks shown outside of this shell are counted towards the MRE. Mineralization remains open in multiple locations, particularly along the northeastern edge of the section. For the section display, drill holes project 25 m in front of and behind section.
Figure 2 – Long section through Valley initial MRE block model. As with the previous cross section, a large zone of continuous, >2 g/t Au mineralization is present from surface. Resource blocks are 10 x 10 x 5 m. Only blocks above cutoff grade of 0.3 g/t Au located within the resource-constraining shell are included in the updated MRE for Valley – none of the mineralized blocks shown outside of this shell are included. Mineralization remains open in multiple locations, particularly at depth in the southeastern and northern parts of the section. For the section display, drill holes project 25 m in front of and behind section.
Figure 3 – Plan view of the Valley deposit, showing all drill results to date and section traces for Figures 1 & 2.
Figure 4 – Cross Section 31 through the Valley deposit showing the June 17, 2024 initial MRE (left) compared to the current updated MRE (right). The 89% increase in total drilling from the initial MRE (27,911 m) to the current MRE (52,736 m) has increased the total size of the resource and significantly advanced confidence in the model. Within what was previously modeled, the update highlights the robustness of the initial MRE: applying the same resource-limiting pit shell constraints and cut-off grade used for the initial MRE to the current block model informing the updated MRE yields contained ounces within 1% of the initial estimate, but with generally higher classification levels. This treatment, however, ignores the additional mineralization discovered outside of the previous pit shell constraint through drilling in 2024.
ABOUT ROGUE
Snowline Gold’s 100%-owned, flagship Rogue Project, in Canada’s Yukon Territory, covers a 60 x 30 km cluster of intrusions in the eastern Tombstone Gold Belt known as the Rogue Plutonic Complex.
Since its launch in 2021, Snowline has progressed the Rogue Project’s Valley deposit from a greenfield prospecting discovery to a significant bulk tonnage gold resource, with a combined 7.94 Moz gold Measured and Indicated mineral resource at 1.21 g/t Au and an additional 0.89 Moz Inferred mineral resource at 0.62 g/t Au within a pit-shell constraint, as outlined in this release.
Exploration of the open Valley deposit is ongoing. Valley is a reduced intrusion-related gold system (RIRGS), geologically similar to multi-million-ounce RIRGS deposits currently in production, like Kinross’s Fort Knox Mine in Alaska, but with substantially higher gold grades. Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays within and along the margins of a one-kilometer-scale, mid-Cretaceous aged Mayo-series intrusion.
The Rogue Project area hosts multiple intrusions similar to Valley along with widespread gold anomalism in stream sediment, soil and rock samples. Elsewhere, RIRGS deposits are known to occur in clusters. For these reasons, Snowline considers the Rogue Project to have district-scale potential to host additional reduced intrusion-related gold systems.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration and development company with an eight-project portfolio covering roughly 360,000 ha (3,600 km2). The Company is advancing its Valley deposit—a large, low-strip, near surface, >1 g/t Au bulk tonnage gold system located in the eastern Yukon—while continuing regional exploration of surrounding targets on the Rogue Project and the broader district 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 across the central Yukon and Alaska. The Company’s comprehensive first-mover position and extensive exploration database provide a distinct competitive advantage and a unique opportunity for investors to be part of multiple discoveries, the advancement of a significant gold deposit, and the creation of a new gold district.
QUALIFIED PERSON
The technical work of the updated MRE was completed by Dan Redmond, P.Geo., an independent qualified person as defined by NI 43-101. He has reviewed, verified and approved the technical information related to the MRE in this news release.
All other information in this news release has been prepared under the supervision of, verified and approved by Thomas K. Branson, M.Sc., P. Geo., VP Exploration of Snowline, as a qualified person for the purposes of NI 43-101.
Figure 5 – Project location map for Snowline Gold’s eastern Selwyn Basin projects: Rogue, Einarson, Ursa, Cynthia and Olympus. The Valley deposit is one of several prospective reduced intrusion-related gold system (RIRGS) targets on the broader 30 x 60 km Rogue Project, complemented by orogenic, Carlin-type, RIRGS and other sediment hosted gold targets on surrounding projects.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain forward-looking statements, including statements about the Company’s belief that Valley has excellent potential for continued growth, the anticipated timelines for the completion of a Preliminary Economic Assessment at Valley, various cost, price and production assumptions used to inform the Mineral Resource Estimate cut-off grade, the Company’s belief that the region around Valley has the potential to become a prolific minerals district, the Company’s view that Valley has encouraging potential to host a long-life, high-quality gold mine and the Company considering the Rogue Project to have district-scale potential to host additional reduced intrusion-related gold systems. 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.
Vancouver, B.C., April 14, 2025: SNOWLINE GOLD CORP (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce the expansion of its management team through appointment of Victor Vdovin, MBA, P.Eng., to Vice President of Engineering along with Lauren McDougall, CPA, CMA, to Chief Financial Officer, replacing Matthew Roma who will be departing the Company on May 4th, 2025 but will continue as consultant during a transitionary period.
Scott Berdahl, CEO & Director of Snowline stated, “On behalf of the Board of Directors and Snowline Gold, I would like to thank Matt for his years of dedicated and high-quality service to the Company. During Matt’s tenure, the company has grown from a small, grassroots company to a leading junior explorer and nascent developer today. We are grateful for his efforts and wish him the very best going forward.”
Mr. Berdahl continued, “I am delighted to welcome Victor and Lauren to Snowline’s senior management team. “Both individuals bring a strong work ethic and highly relevant experience to Snowline at a key time for the Company, as we take big steps to rapidly and responsibly advance our flagship Valley gold deposit on our 100%-owned Rogue Project.
Management Appointments:
Victor Vdovin, VP Engineering: Mr. Vdovin brings over 20 years of relevant engineering experience to Snowline, having held advanced engineering and leadership positions with Newmont, Goldcorp and Centerra, working on projects including Penasquito, Los Filos and Kumtor. Most recently, he served as Head of Technical Services for Greece at Eldorado Gold. Mr. Vdovin is a licensed Professional Engineer through the Professional Engineers of Ontario. He holds an MSc in Applied Geotechnics from the Camborne School of Mines in Camborne, UK and an MBA from the University of Toronto’s Rotman School of Management.
Lauren McDougall, Chief Financial Officer: Ms. McDougall has 15 years of experience in corporate finance roles within the mining industry. Her most recent position was CFO and Corporate Secretary of NorthWest Copper Corp. commencing in 2021, following its transition from Sun Metals Corp., where she served as CFO and Corporate Secretary from 2018 to 2021. Ms. McDougall is a Chartered Professional Accountant (CPA, CMA). She holds a BCom in Finance and International Business from Carleton University.
STOCK OPTIONS AND RESTRICTED SHARE UNITS
In addition, the Company announces the award of an aggregate of 175,000 restricted share units (“RSUs”) under the Company’s Omnibus Incentive Plan to officers of the Company. Each RSU represents a right to receive one common share of the Company, following the vesting of such restricted share units over a three-year period.
The Company has also granted an aggregate of 300,000 stock options under the Company’s Omnibus Incentive Plan to offers of the Company. The options are exercisable for one share each at $8.29 per share for a period of five years from the date of grant and vesting over 2.5 years.
ABOUT ROGUE
Snowline Gold’s 100%-owned Rogue Project, in Canada’s Yukon Territory, covers a 60 x 30 km cluster of intrusions in the eastern Tombstone Gold Belt known as the Rogue Plutonic Complex, including the Company’s flagship Valley gold deposit.
Since its launch in 2021, Snowline has progressed Valley from a greenfield prospecting discovery to a significant bulk tonnage gold resource, with 4.05 Moz gold Indicated mineral resource at 1.66 g/t Au and an additional 3.26 Moz Inferred mineral resource at 1.25 g/t Au within a pit-shell constraint. The resource estimate numbers are supported by the technical report for Rogue, prepared in accordance with NI 43-101 standards, entitled “Rogue Gold Project: NI 43-101 Technical Report and Mineral Resource Estimate,” authored by Heather Burrell, P. Geo., Daniel J. Redmond, P. Geo., and Steven C. Haggarty, P. Eng., with an effective date of May 15, 2024.
Exploration of the open Valley deposit is ongoing. Valley is a reduced intrusion-related gold system (RIRGS), geologically similar to multi-million-ounce RIRGS deposits currently in production, like Kinross’s Fort Knox Mine in Alaska, but with substantially higher gold grades. Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays within and along the margins of a one-kilometer-scale, mid-Cretaceous aged Mayo-series intrusion.
The Rogue Plutonic Complex hosts multiple intrusions similar to Valley along with widespread gold anomalism in stream sediment, soil and rock samples. Elsewhere, RIRGS deposits are known to occur in clusters. For these reasons, Snowline considers the Rogue Project to have district-scale potential to host additional Valley-like gold systems.
Figure 1 – Project location map for Snowline Gold’s eastern Selwyn Basin properties: Rogue, Einarson, Ursa, Cynthia and Olympus. The Valley deposit is one of a cluster of prospective reduced intrusion-related gold targets on the broader 30 x 60 km Rogue Project, within a broader emerging district almost entirely controlled by Snowline.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration and development company with an eight-project portfolio covering roughly 360,000 ha (3,600 km2). The Company is advancing its Valley deposit—a large, low-strip, near surface, >1 g/t Au bulk tonnage gold system located in the eastern Yukon—while continuing regional exploration of surrounding targets on the Rogue Project and the broader district 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 across the central Yukon and Alaska. The Company’s comprehensive first-mover position and extensive exploration database provide a distinct competitive advantage and a unique opportunity for investors to be part of multiple discoveries, the advancement of a significant gold deposit, and the potential creation of a new gold district.
QUALIFIED PERSON
Information in this release has been prepared under supervision of and approved by Thomas Branson, M.Sc., P. Geo., Vice President of Exploration for Snowline Gold Corp, as Qualified Person for the purposes of National Instrument 43-101.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain forward-looking statements, including statements regarding the creation of a new arm of the Company, the progression of the Valley target past the exploration stage, the discovery potential within the Valley intrusion, the potential for investors to participate in multiple future discoveries, the Rogue project having district-scale prospectivity, the creation of a new gold district and the Company’s plans and intentions. 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.
Vancouver, B.C. – April 3, 2025 – Snowline Gold Corp. (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce that it has completed its previously announced “bought deal” private placement of 1,875,000 charity flow-through common shares of the Company (the “FT Shares”) at a price of C$10.68 per FT Share (the “Offering Price”) for aggregate gross proceeds of C$20,025,000 (the “Offering”). Each FT Share will qualify as a “flow-through share” (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”)). Existing shareholder B2Gold Corp. (TSX: BTO, NYSE American: BTG, NSX: B2G) participated in the Offering to maintain its 9.9% interest in the Company.
“We are grateful to see tremendous support from existing shareholders in this financing and from new shareholders whom we are excited to have join,” said Scott Berdahl, CEO & Director of Snowline. “This financing will allow us to put our heads down and focus on a big year in 2025—advancing Rogue Project’s Valley deposit and continuing to bring forward the broader surrounding gold district—while giving us significant runway beyond. It also provides us flexibility to respond rapidly in the event of a greenfield discovery and to pursue other new opportunities that may arise.”
The Company will use an amount equal to the gross proceeds received by the Company from the sale of the FT Shares, in the amount of C$20,025,000, to incur eligible “Canadian exploration expenses” that qualify as “flow-through mining expenditures” as both terms are defined in the Tax Act (the “Qualifying Expenditures”) related to the Company’s projects in the Yukon Territory, on or before December 31, 2026, and will renounce all the Qualifying Expenditures in favour of the subscribers of the FT Shares effective December 31, 2025.
The Offering was made through a syndicate of underwriters led by Cormark Securities Inc., and including BMO Capital Markets, Canaccord Genuity Corp., Agentis Capital Markets LP, National Bank Financial Inc., CIBC World Markets Inc., Scotia Capital Inc. and SCP Resource Finance LP (collectively, the “Underwriters”). The Underwriters received a cash commission equal to 5% of the gross proceeds of the Offering.
All securities issued in connection with the Offering are subject to a hold period of four months and one day from the closing of the Offering, in accordance with applicable Canadian securities laws, expiring on August 4, 2025. Closing of the Offering is subject to the final acceptance of the TSX Venture Exchange.
The securities issued under the Offering have not been and will not be registered under the U.S.Securities Act of 1933, as amended, and were not to be offered or sold in the United States absentregistration or an applicable exemption from the registration requirements. This news release shall notconstitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securitiesin the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration and development company with an eight-project portfolio covering roughly 360,000 ha (3,600 km2). The Company is advancing the Rogue Project’s Valley deposit – a large, low strip, near surface, >1 g/t Au bulk tonnage gold system located in the eastern Yukon – while continuing regional exploration of surrounding targets in a broader district within the 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 across the central Yukon and Alaska. The Company’s first-mover position and extensive exploration database provide a distinct competitive advantage and a unique opportunity for investors to be part of multiple discoveries, the advancement of the Valley gold deposit, and the creation of a new gold district.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain forward-looking statements, including statements regarding the anticipated use of proceeds from the Offering, the ability of the Company to incur in full or at all “Canadian exploration expenses” that qualify as “flow-through mining expenditures” and the renunciation thereof to the purchasers of the FT Shares and timing thereof, the final acceptance of the TSX Venture Exchange, the tax treatment of the FT Shares, the expansion of the scope of the Company’s field studies, the Company’s advancement of the Rogue Project’s Valley deposit, the Company’s pursuit of regional exploration and drilling, the Company’s ability to unlock value through discovery, the advancement of gold deposits, the establishment of a gold district, and the Company’s future plans and intentions. 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 risks, 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 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.
Vancouver, B.C. – March 17, 2025 – Snowline Gold Corp. (TSX-V: SGD) (OTC: SNWGF) (“Snowline”or the“Company”) is pleased to announce that it has entered into an agreement pursuant to which Cormark Securities Inc., as lead underwriter, on behalf of a syndicate of underwriters (collectively, the “Underwriters”), has agreed to purchase, on a “bought deal” private placement basis, 1,875,000 “flow-through” shares of the Company (the “Charity FT Share”) at a price of $10.68 per Charity FT Share (“Offering Price”) for gross proceeds of $20,025,000 (the “Offering”). Each Charity FT Share will qualify as a “flow-through share” (within the meaning of subsection 66(15) of the Income Tax Act (Canada)).
“This financing will serve to top up an already strong treasury for Snowline, allowing for efficient use of exploration capital and providing a long runway to continue our exploration this year and next as we work to unlock a district,” said Scott Berdahl, CEO & Director of Snowline. “At the same time, it will free up existing capital for the rapid, efficient advancement of important work on the Valley deposit, including engineering and environmental studies. We are excited to ramp up our efforts on multiple fronts as we head into the 2025 field season.”
The Company will use an amount equal to the gross proceeds received by the Company from the sale of the Charity FT Shares, pursuant to the provisions in the Income Tax Act (Canada), to incur eligible “Canadian exploration expenses” that qualify as “flow-through mining expenditures” as both terms are defined in the Income Tax Act (Canada) (the “Qualifying Expenditures”) related to the Company’s projects in the Yukon Territory, on or before December 31, 2026, and to renounce all the Qualifying Expenditures in favour of the subscribers of the Charity FT Shares effective December 31, 2025.
The Offering is expected to close on or about April 3, 2025, or such other date as the Company and the Underwriters may agree and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the acceptance of the TSX Venture Exchange.
The securities offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities law, and may not be offered, sold or delivered, directly or indirectly, within the United States, or to or for the account or benefit of U.S. persons, absent registration or an exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration and development company with an eight-project portfolio covering roughly 360,000 ha (3,600 km2). The Company is advancing its Valley deposit—a large, low-strip, near surface, >1 g/t Au bulk tonnage gold system located in the eastern Yukon—while continuing regional exploration of surrounding targets on the Rogue Project and the broader district 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 across the central Yukon and Alaska. The Company’s comprehensive first-mover position and extensive exploration database provide a distinct competitive advantage and a unique opportunity for investors to be part of multiple discoveries, the advancement of a significant gold deposit, and the creation of a new gold district.
ON BEHALF OF THE BOARD
Scott Berdahl, MSc, MBA, PGeo CEO & Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary and Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that implies predictions, expectations, interpretations, opinions, plans, projections, objectives, assumptions, future events or performance (often using words such as “expects” or “does not expect”, “is expected”, “interpreted”, “in management’s opinion”, “anticipates”, or “plans”, “budget”, “schedule”, “forecasts” including negative and grammatical variations thereof, statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved) is not a statement of historical fact and may constitute forward-looking information and is intended to identify forward-looking information. This news release may contain forward-looking information relating to, among other things, the terms of the Offering; the use of proceeds of the Offering; the timing and ability of the Company to close the Offering; the timing and ability of the Company to receive necessary regulatory and other approvals, including the acceptance of the Offering by the TSX Venture Exchange; the ability of the Company to incur in full or at all “Canadian exploration expenses” that qualify as “flow-through mining expenditures” and the renunciation thereof to the purchasers of the Charity FT Shares and timing thereof; the tax treatment of the Charity FT Shares. These factors include, but are not limited to, risks associated with the ability of exploration activities (including drilling results) to accurately predict mineralization; the Company’s ability to obtain required approvals; the results of exploration activities; risks associated with mining operations; global economic conditions; metal prices; dilution; environmental risks; and community and non-governmental actions and general economic conditions. Although the forward-looking information contained in this news release is based on assumptions that management believes are reasonable at the time of release, Snowline Gold Corp. cannot provide any assurance that actual results will be consistent with the forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Snowline Gold Corp. nor any other person assumes responsibility for the accuracy or completeness of forward-looking information. All statements made, other than statements of historical fact, that address the Company’s intentions and the events and developments that the Company anticipates, are considered forward-looking statements. Although the Company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ from those in the forward-looking statements.
