SNOWLINE GOLD ANNOUNCES INITIAL MINERAL RESOURCE AT ITS VALLEY GOLD DEPOSIT

  • Initial Mineral Resource Estimate defined for the Valley Gold Deposit, located on Snowline’s 100% owned Rogue Project in the Yukon Territory, Canada:
    • Indicated Mineral Resource: 76 Mt at 1.66 g/t Au for 4.05 million ounces
    • Inferred Mineral Resource: 81 Mt at 1.25 g/t Au for an additional 3.26 million ounces
    • Resource is constrained within a revenue factor 0.72 pit shell and reported above a 0.40 g/t Au cut-off grade
  • Quality of discovery highlighted by continuous, non-refractory gold mineralization, with a significant component of higher-grade mineralization starting from bedrock surface (see Table 3) providing strength and optionality for potential future development scenarios
  • Initial resource has clear potential for expansion, with open zones of 1-2 g/t Au mineralization across multiple broad edges of the deposit and with abundant mineralization encountered beyond the limits of the current pit shell
  • The Valley Deposit sits on <0.01% of the Company’s land holdings, within a cluster of high priority targets sharing key geological characteristics with Valley highlighting district level potential
  • 2024 drill program at Valley ongoing, with three drills active on the Valley Deposit and  roughly 4,000 m drilled to date (assays pending).

Vancouver, B.C., June 17, 2024: SNOWLINE GOLD CORP. (TSX-V: SGD) (OTCQB: SNWGF) (the “Company” or “Snowline”) is pleased to report an initial 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 Deposit, the first discovery on its 100% owned, 1,110 km2 Rogue Project in Canada’s Yukon Territory.

“In just two full exploration seasons, Snowline has advanced its Valley target from greenfield discovery holes to a robust multi-million-ounce gold deposit with continued exploration upside,” said Scott Berdahl, CEO & Director of Snowline. “The rapid advancement is a testament both to the quality of the discovery—with exceptional continuity of strong, non-refractory gold mineralization beginning at surface—and to the quality of the ongoing work by our talented and hard-working field team. We believe that Valley has excellent potential for continued growth, as evidenced by broad intervals of 1-2 g/t gold mineralization returned in drilling on multiple edges of the system. We are actively building on this milestone for Valley with our largest drill campaign to date, currently underway, while testing multiple prospective greenfield targets in a region we believe has the potential to become a prolific minerals district.”

INITIAL MINERAL RESOURCE ESTIMATE OVERVIEW

The initial 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 initial, revenue factor 0.72 pit shell-constrained MRE contains Indicated Mineral Resources of 76 million tonnes (Mt) at 1.66 grams per tonne gold (g/t Au) for 4.05 million ounces (Moz) gold in addition to Inferred Mineral Resources of 81 Mt at 1.25 g/t Au for 3.26 million ounces gold (Table 1) using a 0.4 g/t Au cut-off grade. The estimate is based on 27,911 metres (m) drill data from all 68 holes at Valley available as of May 15, 2024, prior to the commencement of Snowline’s ongoing 2024 drill campaign. Work is underway to expand on the initial MRE, which supports Snowline’s view that Valley has encouraging potential to host a long-life, high-quality gold mine.

Snowline Gold Rogue Project, Yukon, Canada
Table 1: Valley Deposit Gold Mineral Resource Estimate
Mineral Resources (Above 0.40 g/t gold cut-off within 297 Mt total Material Shell)

Notes:

  1. The effective date of the Mineral Resource Estimate is May 15, 2024, and the Mineral Resource Estimate is based upon all available exploration data available to the end of January 2024.
  2. Values for tonnage and contained gold are rounded to the nearest thousand
  3. Estimated Mineral Resources were classified following CIM Definition Standards.  The quantity and grade of the Inferred Mineral resources listed here are uncertain in nature and have insufficient exploration data to classify them as Indicated Mineral Resources, and it is not certain that additional exploration will result in the upgrading of the Inferred Mineral Resources to a higher category.
  4. 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.
  5. All stated Mineral Resources are contained with a pit shell of approximately 297 Mt of material.  All blocks located below or outside of this pit shell have been excluded from the Mineral Resource Estimate regardless of gold grade or Mineral Resource category.
  6. The Mineral Resource cut-off grade of 0.40 g/t gold and the Lerchs-Grossman limiting pit shell have been defined with the following assumptions:
  • An assumed conventional gold mill processing operation with a nominal process rate in the range of 25,000 t/day milled.
  • A gold price of US$ 1,800/ounce and CAN$/US$ exchange rate of 1.30.
  • Average mining costs of CAN$ 3.50 per tonne of material mined.
  • Average processing costs of CAN$ 22.00 per tonne processed.
  • A process recovery of 93% for gold.
  • Average administrative costs of CAN$ 80 million per annum or CAN$ 8.77 per tonne processed.
  • A 1% royalty on recovered gold.
  • Refining and selling costs of CAN$ 9.10 per recovered ounce of gold.
  • Overall pit slopes of 45 degrees.
  • The pit shell selected as the Mineral Resources limit has a revenue factor of 0.72.

Snowline Gold Rogue Project, Yukon, Canada
Table 2: Valley Deposit Gold Mineral Resource Estimate
Sensitivity to Gold Cut-Off Grade

Notes:

  1. Bolded row represents the base case for the MRE.
  2. Cut-off grades as low as 0.2 g/t Au are still considered to meet NI 43-101 guidelines for Reasonable Prospects for Eventual Economic Extraction.

Snowline Gold Rogue Project, Yukon, Canada
Table 3: Valley Deposit Gold Mineral Resource Estimate
Incremental Breakdown of Mineral Resources (>0.40 g/t Gold) Within Internal Shells

Table 2 highlights the low sensitivity to cut-off grades in Valley’s initial MRE, demonstrating a resilience to increases in cost assumptions and to decreases in the price of gold. Using the current cost assumptions, for example, the break-even price of gold for the 0.6 g/t Au cut-off would be US$1,350 per ounce.

Table 3 provides an incremental breakdown of this initial MRE as contained within sequentially expanding shells. It should be read with reference to Figure 4, which illustrates these sequential shells on a long section of the Valley Deposit. This table provides a quantitative basis for the description of relatively high-grade, continuous, near-surface mineralization at Valley. The Company believes that the front-heavy distribution of mineralization between these iterative pit shells materially enhances the potential of the project, providing strength and optionality in potential future development scenarios.

Further details regarding the initial MRE including the estimation methods and procedures will be detailed in a pending NI 43-101 Technical Report, prepared with oversight from Ausenco Engineering Canada ULC, which will be filed on SEDAR+ (www.sedarplus.ca) under the Company’s profile within 45 days from the date of this news release.

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.Resource blocks are 15 x 15 x 10 m. Only blocks above cutoff grade of 0.4 g/t Au located within the revenue factor 0.72 shell are included in initial MRE for Valley – none of the mineralized blocks shown outside of this shell are included. Mineralization remains open in multiple locations, particularly along the northeastern edge of the section. For the section display, drill hole grades are composited within 10 m benches and project 25 m in front of and behind section.

Figure 2 – Cross section 30 through Valley initial MRE block model. As with the previous section 31, 50 m to the northwest, a large zone of continuous, >2 g/t Au mineralization is present from surface.Resource blocks are 15 x 15 x 10 m. Only blocks above cutoff grade of 0.4 g/t Au located within the revenue factor 0.72 shell are included in initial MRE for Valley – none of the mineralized blocks shown outside of this shell are included. Mineralization remains open in multiple locations, particularly along the northeastern edge of the section. For the section display, drill hole grades are composited within 10 m benches and project 25 m in front of and behind section.

Figure 3 – Cross section 29 through Valley initial MRE block model. As with the previous section 30, 50 m to the northwest, a large zone of continuous, >2 g/t Au mineralization is present from surface.Resource blocks are 15 x 15 x 10 m. Only blocks above cutoff grade of 0.4 g/t Au located within the revenue factor 0.72 shell are included in initial MRE for Valley – none of the mineralized blocks shown outside of this shell are included in the initial MRE, and void (white) spaces within the shell are assumed for this model to contain no gold. Mineralization remains open in multiple locations, particularly along the northeastern edge of the section. For the section display, drill hole grades are composited within 10 m benches and project 25 m in front of and behind section.

Figure 4 – Long section through Valley initial MRE block model. As with the previous cross sections, a large zone of continuous, >2 g/t Au mineralization is present from surface. Sequential shells highlighting the distribution of grades are shown on this figure, with classification breakdowns shown in Table 3.Resource blocks are 15 x 15 x 10 m. Only blocks above cutoff grade of 0.4 g/t Au located within the revenue factor 0.72 shell are included in initial 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 northwestern parts of the section. For the section display, drill hole grades are composited within 10 m benches and project 25 m in front of and behind section.

Figure 5 – Plan view of the Valley Deposit, showing drill results to May 15, 2024 and section traces for Figures 1-4. Note that the colours assigned to various gold grades, which are consistent here with previous Company disclosures, vary slightly from Figures 1-4 of this news release.

VALLEY DEPOSIT GEOLOGY

The Valley gold deposit belongs to a class of gold systems known as reduced intrusion-related gold systems (RIRGS). RIRGS are characterized by sheeted, gold-bearing quartz vein arrays within and near felsic, ilmenite series intrusions. The quartz veins are generally thin (<2 cm in width), but their grade, abundance, and continuity across large spatial volumes can make RIRGS occurrences attractive bulk tonnage targets for mining.

Mineralization at Valley is hosted primarily within the western half of a 1-km-scale, polyphase granodiorite stock and to a lesser extent in surrounding hornfels sedimentary rock. Multiple overprinting gold-bearing quartz vein arrays are present, resulting in an unusually high density of veins for a RIRGS and thus unusually high bulk tonnage grades. Gold primarily occurs in its native form within the quartz veins, associated with minor to trace amounts of bismuth and tellurium minerals. Overall sulphur content is low (<0.5%), and carbonate minerals present in the quartz veins produce a strong natural buffering effect.

Metallurgical testing of Valley demonstrates the non-refractory nature of mineralization and its amenability to multiple conventional processing techniques. Average gold recoveries across 10 large contiguous core samples taken from different parts of the deposit were 94.1% using bottle roll cyanidation, 95.4% using flotation, and 95.7% using carbon-in-leach, each with a 75-micron grind size (see Snowline press release dated June 14, 2023).

Figure 6 – Map showing Snowline’s Rogue and northern Cynthia projects highlighting select results from prominent RIRGS targets. The Company believes that its Rogue Project and surrounding, 100%-owned projects demonstrate strong potential to host a previously unrecognized gold district.

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.

Since its launch in 2021, Snowline has progressed the Rogue Project’s Valley target 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. Exploration of the open Valley system 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 (Figure 6) 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 company with an eight-project portfolio covering roughly 360,000 ha (3,600 km2). The Company is exploring its flagship 111,000 ha (1,110 km2) Rogue gold project 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. The Company’s first-mover position and extensive exploration database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

Figure 7 – 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.

QUALIFIED PERSON

The technical work of the initial 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.

ON BEHALF OF THE BOARD

Scott Berdahl
CEO & Director

For further information, please contact:

Snowline Gold Corp.
+1 778 650 5485
info@snowlinegold.com

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.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including statements about the Company’s belief that Valley has excellent potential for continued growth, 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.

­SNOWLINE GOLD ADDS PROJECT DEVELOPMENT EXPERTISE TO BOARD WITH ADDITION OF GIL LAWSON

Vancouver, B.C., June 11, 2024: SNOWLINE GOLD CORP. (TSX-V: SGD) (US OTCQB: SNWGF) (the “Company” or “Snowline”) is pleased to announce the immediate appointment of Mr. Gil Lawson to the Board of Directors as an independent director.

Gil Lawson is an experienced mining professional engineer with over 38 years of experience in project development, mine planning, and mine management. Between 1986 and 2020 he held a number of increasingly senior technical and leadership roles at Placer Dome Inc., De Beers Canada, and Goldcorp Inc., including the management of the Musselwhite, Campbell and Snap Lake mines. Between 2017 and 2020 he served as Chief Operating Officer of TMAC Resources, then interim General Manager for Kinross Gold Corporation’s Tasiast Mine in Mauritania, and most recently as Chief Operating Officer for Calibre Mining Corporation’s Valentine Gold Project. Mr. Lawson’s past Board experience includes serving as an independent director for Great Bear Resources where he helped guide the successful sale of the company to Kinross. Mr. Lawson holds a Bachelor of Mining Engineering from McGill University in Montreal, Quebec.

Snowline Gold Board Chair Craig Hart stated that “Mr. Lawson’s appointment will bring valuable experience, skill sets and new perspectives to the Board as well as adding technical strength in project development which is increasingly relevant to Snowline’s growth.”

Mr. Lawson indicated “I am excited to join the Snowline Gold team as an Independent Director and to work towards advancing this exciting project in Canada’s newest gold district.  I look forward to adding to the technical excellence of this fast-growing and dynamic team, and ensuring that Snowline’s guiding principles of environmental respect, building community, going big and doing things right, shape the future”.

Snowline Gold CEO Scott Berdahl concluded “We are pleased to welcome Gil Lawson to Snowline’s Board of Directors. His appointment adds a significant new dimension that will help to guide our company. His depth of experience in planning, developing and operating mines is highly relevant as we work to explore, expand, and advance our flagship Valley discovery.”

ABOUT SNOWLINE GOLD CORP.

Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seventeen-project portfolio covering >360,000 ha (>3,600 km2). The Company is exploring its flagship >110,000 ha (>1,100 km2) Rogue gold project in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’ Fort Knox Mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. The Company’s first-mover position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

ON BEHALF OF THE BOARD

Craig J.R. Hart
Independent Board Chair

For further information, please contact:

Snowline Gold Corp.
+1 778 650 5485
info@snowlinegold.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including statements about the Company’s drill program, results, implied significance of visual inspection of drill core, and surface work 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.

SNOWLINE GOLD MOBILIZES FIELD CREWS FOR FULLY FUNDED 25,000 METRE DRILL PROGRAM, COMPANY’S LARGEST EXPLORATION CAMPAIGN TO DATE

  • Five drill, 25,000+ metre drill program launched, with 15,000+ metres dedicated to expanding and defining the Rogue Project’s flagship Valley target
  • Upwards of 10,000 metres allocated for first pass and follow up drilling on at least five additional targets across the Rogue and Einarson projects
  • A second 50-person camp will be built near Rogue Project’s Valley target to increase the capacity to support expanding drill campaign and regional surface exploration

Vancouver, B.C., May 16, 2024: SNOWLINE GOLD CORP. (TSX-V: SGD) (US OTCQB: SNWGF) (the “Company” or “Snowline”) is pleased to announce that it has mobilized drilling personnel and geological staff to its Rogue Project in Canada’s Yukon Territory to kick off its 2024 exploration and drilling program. The 25,000+ metre (m) campaign will see two additional diamond drill rigs mobilized to complement the three rigs currently onsite at the Rogue Project’s Valley target, with a phased start-up over the coming days and weeks. Roughly 15,000+ m are allocated for the expansion and advancement of Valley. An additional 10,000+ m are assigned to first pass or follow-up drilling on multiple additional targets, including the Rogue Project’s newly identified Aurelius target and the Einarson Project’s Jupiter target.

“We are excited to be back in the field for our earliest start and our largest exploration campaign to date,” said Thomas Branson, Snowline’s Vice President of Exploration. “At Valley, our drilling will push to expand the extent of known mineralization and to gain a more quantitative understanding of the discovery, both in terms of its overall gold endowment and in terms of assessing potential economics of the relatively high grade, near surface gold system. The construction of a second 50-person camp will increase efficiencies at Valley along with our capacity to support regional exploration with additional drills. Following our substantial progress in 2023, we are keen to continue to unlock the value of what is effectively an only-mover position in a rapidly emerging gold district.”

2024 EXPLORATION PLANS

Drilling:

Of the 25,000+ m drilling planned for 2024, approximately 15,000+ m will be allocated to advance understanding of the Rogue Project’s Valley target and to further delineate the at-surface, high-grade (1 g/t Au to > 4 g/t Au) zone encountered there in 2023 drilling, while testing for potential extensions of the high-grade gold system in various directions. Drilling at Valley will be complemented by ongoing metallurgical work and environmental surveys, along with scoping studies as necessary to inform economic assessment of the discovery.

The remaining 10,000+ m are assigned to an aggressive regional drill campaign designed to test multiple additional targets. A 1,000+ metre Phase I drill program at Aurelius will test the surface mineralization discovered during the 2023 season (see press release dated February 20, 2024). Programs of 1,000+ m each are also planned to follow up on results from 2023 drilling at both the Cujo target (see press release dated November 9, 2023), the Reid target (downhole interval of 174.5 m averaging 0.27 g/t Au, from 303.5 m), and the Gracie target, where drilling will build on earlier results in vectoring towards the Gracie intrusion and targeting mineralization within.

With the recent consolidation of ownership on the Einarson Project, Snowline plans to conduct a 4,000+ metre drill program at Einarson’s Jupiter target as follow up to the high grade orogenic gold mineralization (to 13.2 g/t Au over 6.5 m, including 43.5 g/t Au over 1.3 m, and 10.4 g/t Au over 5.0 m within the same hole—see Snowline press release dated August 25, 2021) encountered across >1.1 kilometres of open strike length in 2021.

Additional drilling will be allocated as follow up to the above where warranted, or as Phase I drill programs at other targets which Snowline deems to have strong geological merit to host significant zones of mineralization. These may include the recently discovered reduced-intrusion related gold system (RIRGS) targets (Ramsey, Livia, Duke and Sydney: see press release dated May 2, 2024), previously identified RIRGS targets like JP, and select orogenic gold targets including Avalanche Creek and Mars on the Einarson Project, following additional surface-based work. All of the above drilling allocations are subject to refinement based on exploration results and other factors as the season progresses.

Surface Exploration:

The 2024 drill program will be complemented by extensive regional surface work. Baseline regional stream sediment sampling will be initiated in early June to bolster and expand existing data in the Rogue Project area, followed by extensive soil sampling around known targets and anomalous areas. The early start will provide time during the field season for follow-up and potential Phase I drilling on select areas with promising results.

Large-scale and target-scale geophysical programs are also planned for the 2024 field season, including regional electromagnetic and target-scale magnetic surveys, building on datasets that have proven useful in delineating alteration, structures and intrusive bodies associated with gold mineralization in exploration at Rogue to date.

Ongoing environmental surveys at Valley and on the broader Rogue Project will continue and, as with previous seasons, will be complemented by progressive reclamation of work sites.

Valley Camp:

In conjunction with the 2024 exploration program, Snowline will construct a 50-person camp in the vicinity of the Valley target, complementing the existing 50-person Forks camp which serves as a technical base and regional exploration hub for the company. The new camp will support efficient drilling at Valley while allowing the Company to accelerate regional exploration efforts. It is anticipated that the camp will be functional in mid to late June 2024.

EINARSON UPDATE

The Company is also pleased to report completion of the previously announced (see press release dated April 25, 2024) consolidation of 100% interest in the Einarson project, including acquisition of the Venus target, pursuant to which the Company issued 1,012,000 common shares as partial consideration. The common shares are subject to a hold period of four months and one day from the acquisition, in accordance with applicable Canadian securities laws, expiring on September 16, 2024.

In addition, the Company has purchased a block of 76 claims (NAD 1-76, the “NAD Property”) immediately adjacent to the Einarson Project’s Venus target from Strategic Metals (the “Vendor”). These claims are on strike with the structural trend and host a continuation of the multi-element anomaly associated with gold mineralization at Venus, thus consolidating the broader target area. As consideration for 100% interest in the NAD Property, the Company has issued the Vendor a one-time payment of C$50,000. The Vendor will retain a 2% Net Smelter Return (NSR) royalty on the NAD Property (the “NAD NSR”). In connection with the royalty agreement, the Vendor will grant Snowline the right to repurchase 50% of the NAD NSR (equivalent to 1% NSR interest) from the Vendor at any time, to be satisfied by the delivery of 1,000 ounces of gold or the cash equivalent at the time of exercise of the buydown right.

ABOUT ROGUE

Rogue’s Valley target is a newly discovered, bulk tonnage style, reduced intrusion-related gold system (RIRGS), with geological similarities to multi-million-ounce deposits currently in production like Kinross’s Fort Knox Mine in Alaska and Victoria Gold’s Eagle Mine in the Yukon. Early drill results demonstrate unusually high gold grades for such a system, present near surface across drill intersections of hundreds of metres. 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. Valley is an early-stage exploration project without a resource estimate, and while initial results are encouraging, the presence or absence of an economically viable orebody cannot be determined until additional work is completed.

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. The Rogue Project is thus considered by the Company to have district-scale potential for additional reduced intrusion-related gold systems.

ABOUT SNOWLINE GOLD CORP.

Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seventeen-project portfolio covering >360,000 ha (>3,600 km2). The Company is exploring its flagship >110,000 ha (>1,100 km2) Rogue gold project in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’ Fort Knox Mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. The Company’s first-mover position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

QUALIFIED PERSON

The technical information in this news release has been reviewed by Thomas K. Branson, P.Geo., a qualified person as defined by National Instrument 43-101.

ON BEHALF OF THE BOARD

Scott Berdahl
CEO & Director

For further information, please contact:

Snowline Gold Corp.
+1 778 650 5485
info@snowlinegold.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including statements about the Company’s drill program, results, implied significance of visual inspection of drill core, and surface work 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.

 SNOWLINE GOLD DISCOVERS FOUR NEW REDUCED-INTRUSION RELATED GOLD SYSTEM TARGETS AT ITS ROGUE AND CYNTHIA PROJECTS, YUKON, WITH VISIBLE GOLD IN OUTCROP SAMPLES TO 86.5 GRAMS PER TONNE GOLD

  • Three additional new reduced intrusion-related gold system targets established on the Rogue Project, with an additional fourth target discovered on the Cynthia Project.
  • Continuous outcrop samples yield up to 5.12 g/t Au over 3.3 m at the Livia target, Rogue Project, and 2.93 g/t Au over 2.0 m at the Sydney target, Cynthia Project.
  • Visible gold in sheeted veins discovered in outcrop in a newly identified intrusion at the Ramsey target, Rogue Project, with an outcrop grab sample of 86.5 g/t Au.

Vancouver, B.C., May 2, 2024: SNOWLINE GOLD CORP (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce discovery of three new reduced intrusion related gold system (RIRGS) targets at its Rogue Project and an additional new RIRGS target at its adjacent Cynthia Project in the Yukon Territory, Canada. Analytical results from the Company’s 2023 surface exploration program demonstrate widespread gold mineralization and RIRGS pathfinder elements associated with intrusions of the Rogue Plutonic Complex, a 60 x 30 km geological feature which also hosts the Company’s flagship Valley target. Results include outcrop chip sampling to 5.12 g/t Au over 3.3 m at the Livia target, and selective outcrop grab samples to 86.5 g/t Au at the Ramsey target. The new RIRGS targets are described in more detail below.

Figure 1 – Map of the Rogue Project and northern Cynthia Project, showing the locations of the newly identified RIRGS targets in relation to Valley and certain additional targets. The new discoveries highlight the widespread geographical footprint of gold mineralization at the Rogue Project, which effectively covers the entire Rogue Plutonic Complex.

“While consistent drill results have dominated our headlines, Snowline’s regional surface exploration team has done exemplary work behind the scenes bolstering our exploration pipeline and demonstrating widespread gold fertility within the regional-scale Rogue Plutonic Complex,” said Scott Berdahl, CEO & Director of Snowline. “The presence of our Valley discovery shows that the geological ingredients needed to produce a uniquely robust form of RIRGS mineralization are present at Rogue. The results of our regional work suggest a strong potential for locating other such instances of gold endowment across much of the broader, >1,100 km2 project area. With essentially the entire Rogue Plutonic Complex under full ownership, we are thrilled to have the opportunity to systematically explore this nascent gold district, along with the resources and the team to make the most of this opportunity.”

LIVIA TARGET, ROGUE PROJECT

The Livia target comprises a cluster of at least three mineralized zones located roughly 3 km east of the Company’s newly identified Aurelius target (see Snowline press release dated February 20, 2024) and 1-2 km west of the mid-Cretaceous Old Cabin pluton. The newly discovered gold mineralization occurs both within sheeted quartz veins hosted in <1 km diameter outcropping granodiorite stocks, and within silicified country rock (Figure 2).

Figure 2 – Plan view of the Aurelius and Liva targets, showing the known extent of anomalous gold values in surface geochemistry and the location of various rock samples. Zones of elevated to anomalous gold mineralization are present across an open 4 x 2.5 km area, centered roughly 3 km east of Snowline’s Aurelius target.

Historical surface sampling of silicified country rock near the south end of Livia returned grab samples of up to 16 g/t Au. Follow up by the Company identified a 1000 x 300 m northeast-trending structural corridor defined by two parallel structures hosted in mudstone and volcanic rocks, extending northeast from the historical sample site. A continuous rock chip sample from the southernmost fault hosted in silicified mudstone returned 3.3 m @ at 5.12 g/t Au including 0.3 m @ at 14.40 g/t Au (and 39.9 g/t Ag) with similar silicification and pathfinder element association to the Aurelius target. Additional selective rock chip samples from 200 m to the northeast within the same corridor returned seven mineralized vein samples out of eight with an average of 4.47 g/t Au (up to 7.39 g/t Au).

Serendipitously, the granodiorite stocks at Livia were initially identified and mapped by Snowline’s Chair Dr. Craig Hart during the field component of his undergraduate Honours thesis, before his role in developing the RIRGS deposit model. The stocks are hosted by the same volcanic and sedimentary rocks hosting mineralization at Aurelius and are located between steep NW-SE and N-S structures. Mineralization is characterized by sheeted quartz vein arrays with arsenopyrite and galena. A 110 x 50 m corridor of sheeted veins, with a vein density up to five veins per meter, was identified in one of these granodiorite stocks. This showing returned 18 mineralized vein samples out of 19 (Figure 2), hosted both in granodiorite and the surrounding hornfels lithologies, with an average of 2.22 g/t Au (up to 7.17 g/t Au, and 41.4 g/t Ag).

SYDNEY TARGET, CYNTHIA PROJECT

Figure 3 – High quartz vein densities with multiple vein orientations in outcrop at the Cynthia Project’s Sydney target (left) and the Rogue Project’s Valley target (right), highlighting similarities between the two. The poly-phase nature of the intrusion at Valley is thought to be a key factor in the formation of the multiple quartz vein generations and the high gold grades encountered there in drilling. This observation adds to the traditional RIRGS model, suggesting that earlier phases of an intrusion can serve as receptive host rocks for mineralization introduced by later phases. Thus, larger intrusions—like that at Sydney—previously thought to be too deeply eroded to be prospective for high-density RIRGS gold mineralization could potentially be mineralized internally by later intrusive phases.

The Sydney target is a newly discovered, open, 250 x 200 m zone of sheeted quartz veins hosted in a 3 km diameter granodiorite stock. The target is hosted in a N-S structural corridor with subvertical faults with up to 26 veins per meter. This zone returned a 2.0 m chip sample at 2.93 g/t Au, a 2.8 m chip sample at 0.53 g/t Au and a selective rock sample with 8.01 g/t Au. The rest of the target is characterized by an average of 10 veins per meter.

A second granodiorite stock located on the Cynthia Project remains largely unexplored.

Figure 4 – Plan view of the Sydney target, with exposed zones of high quartz vein densities highlighted in yellow and select rock grab samples labeled. The 14.7 g/t Au sample is local float (non bedrock) material.

RAMSEY TARGET, ROGUE PROJECT

Like Valley, the Ramsey target occupies a topographical low, with limited outcrop and a large component of transported surface cover. The target, located 23 km west of Valley (Figure 1), was initially identified as a magnetic high anomaly in historical aerial magnetic data. Surface investigation revealed the presence of low density (~1 vein/m) sheeted quartz veins in an intrusive host rock, with outcropping bismuth minerals and visible gold observed in the veins.

Out of ten grab samples collected from the isolated outcrops, which occupy only a small (~ 60 x 30 m) portion of the broader 4 x 2 km magnetic anomaly, eight were mineralized, with an average grade of 0.53 g/t Au not including a visible gold bearing grab sample of quartz vein material with abundant bismuthinite which returned 86.5 g/t Au. A soil sample grid established over the area returned elevated (>10 ppb Au) background gold values and localized anomalies up to 105 ppb Au associated with elevated bismuth and tellurium. It is unclear to what extent transported surface material (tills, colluvium and alluvium) might be masking bedrock influence on soil geochemistry across the target.

DUKE TARGET, ROGUE PROJECT

Duke is a newly discovered RIRGS target characterized by a 1,500 x 1,000 m granodiorite stock partially covered by colluvium and moraine deposits, located roughly 11 km southeast of the Valley target (Figure 1). Duke exhibits a similar geophysical response in historical ZTEM data to Valley, with a resistive anomaly marking the location of the intrusion.

Initial reconnaissance work identified sheeted quartz-sulphide veins with densities consistently greater than 10 veins per meter over an open, 500 x 350 m area. The vein mineralogy is characterized by quartz-carbonate with pyrrhotite, bismuthinite, and arsenopyrite. The vein sets are mapped as vertical with NW-SE and E-W orientation and have the potential to extend beneath the moraine deposits. Initial, representative grab samples returned values up to 0.56 g/t Au in outcrop and 0.91 g/t Au in float. These results are seen as encouraging indicators of fertility, and the target itself extends the known gold endowment along a general NW-SE corridor to >25 km stretching from Aurelius in the northwest and including the Valley target.

OTHER TARGETS

In addition to the new targets described above, the Company identified a zone of abundant gold-bearing intrusive float in glacial till on the Rogue Project roughly 12 km down-valley from (west-northwest of) the Valley gold discovery, associated with locally anomalous (17, 237 and 768 ppb Au) stream sediment geochemistry. It is unclear at present whether this float is derived from an undiscovered mineralized intrusion or whether it could have been transported as till from the Valley target itself at high enough concentrations to produce the observed gold anomalies in stream geochemistry.

Additional targets, including the Rogue Project’s JP target (formerly “Scronk”) and others, were advanced by the Company during the 2023 field season and could potentially see drill testing in 2024.

ABOUT SNOWLINE GOLD CORP.

Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering >360,000 ha (>3,600 km2). The Company is exploring its flagship >110,000 ha (>1,100 km2) Rogue gold project in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’s Fort Knox Mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. The Company’s first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

Figure 5 – Project location map for Snowline Gold’s eastern Selwyn Basin properties: Rogue, Einarson, Ursa, Cynthia and Olympus. The Valley target 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.

QUALIFIED PERSON

Information in this release has been prepared under supervision of and approved by Thomas Branson, M.Sc., P. Geo., VP Exploration of Snowline Gold Corp, as Qualified Person for the purposes of National Instrument 43-101.

ON BEHALF OF THE BOARD

Scott Berdahl
CEO & Director

For further information, please contact:

Snowline Gold Corp.
+1 778 650 5485
info@snowlinegold.com

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.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including statements regarding the consolidation of the Einarson Project, the acquisition of the Venus target, the significance of analytical results, the prospectivity of various gold targets, and the potential for investors to participate in multiple future discoveries, the creation of a new 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 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.

SNOWLINE GOLD COMPLETES OVERSUBSCRIBED C$31.9 MILLION FINANCING

Vancouver, B.C. – April 25, 2024 – 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 3,685,750 charity flow-through common shares of the Company (the “FT Shares”) at a price of C$7.80 per FT Share (the “Offering Price”) for aggregate gross proceeds of C$28,748,850 (the “Offering”), including C$3,749,850 from the full exercise of the underwriters’ option. 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”)).

The Company also completed a concurrent non-brokered private placement of 405,000 FT Shares at the Offering Price for additional gross proceeds of C$3,159,000, through which existing shareholder B2Gold Corp. (TSX: BTO, NYSE American: BTG, NSX: B2G) subscribed to maintain its 9.9% interest in the Company.

“The present financing provides Snowline the bandwidth to significantly expand the scope of our upcoming field season, allowing us to simultaneously pursue exploration at our Rogue Project’s Valley target alongside an aggressive regional drill campaign,” said Scott Berdahl, CEO & Director of Snowline. “We continue to be impressed both by the results from Valley and from our pipeline of regional targets, and we are keen to unlock value through discovery and efficient advancement of what we see as an emerging Canadian gold district. And we are grateful for the investment of supportive shareholders who have initiated, maintained, or expanded on their positions in Snowline through this raise.”

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$31,907,850, 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, 2025, and will renounce all the Qualifying Expenditures in favour of the subscribers of the FT Shares effective December 31, 2024.

The Offering was made through a syndicate of underwriters led by Cormark Securities Inc. and BMO Capital Markets, and including Canaccord Genuity Corp., CIBC World Markets Inc., National Bank Financial Inc., SCP Resource Finance LP and Paradigm Capital Inc. (collectively, the “Underwriters”). The Underwriters received a cash commission equal to 5% of the gross proceeds of the Offering. The Company paid a finder’s fee equal to 2.5% of the gross proceeds of the non-brokered private placement to an arm’s length party.

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 26, 2024. 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 absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in 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 company with an eight-project portfolio covering >360,000 ha (>3,600 km2). The Company is exploring its flagship >110,000 ha (>1,100 km2) Rogue gold project in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’s Fort Knox Mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. The Company’s first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

ON BEHALF OF THE BOARD

Scott Berdahl, MSc, MBA, PGeo
CEO & Director

For further information, please contact:

Snowline Gold Corp.
+1 778 6505485
info@snowlinegold.com

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 NOTE REGARDING FORWARD-LOOKING STATEMENTS

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 pursuit of exploration and regional drilling, the Company’s ability to unlock value through discovery, 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.

 SNOWLINE GOLD CONSOLIDATES 100% OF ITS EINARSON PROJECT AND ACQUIRES ADJACENT GOLD TARGET WITH HISTORICAL DRILL RESULT OF 9.7 GRAMS PER TONNE GOLD OVER 38.7 M

  • Snowline consolidates 100% ownership of its district-scale Einarson Project, including its drill discovery of an orogenic gold system at the Jupiter target.
  • Consolidation agreement also includes acquisition of adjacent, privately held gold target with historical drill results reported up to 9.67 g/t Au over 38.7 metres.
  • Recent staking bolsters Snowline’s Yukon land position by 22,000 ha to >360,000 ha (>3,600 km2), with expansions to its Rogue and Einarson projects.

Vancouver, B.C., April 25, 2024: SNOWLINE GOLD CORP (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce that it has entered into a purchase agreement that will result in the consolidation of 100% ownership of its Einarson Project through purchase of a privately held 30% interest in 3,003 mineral claims (~61,000 ha). Einarson includes the Company’s Jupiter discovery, which saw 2021 Phase 1 drill results of 13.2 g/t Au over 6.5 metres (m), including 43.5 g/t Au over 1.3 m, and 10.4 g/t Au over 5.0 m within the same hole (see Snowline press release dated August 25, 2021) alongside other well-mineralized drill holes spanning 1.1 kilometres (km) of open strike length. Additionally, Einarson hosts multiple untested, kilometers-scale gold targets defined by prospecting and surface geochemistry. Einarson sits immediately to the north of and is contiguous with Snowline’s 100% owned Rogue Project, which hosts the Company’s flagship Valley discovery. In addition to the consolidation, the Company will acquire a 100% interest in the Venus target, a privately held gold target adjacent to Einarson with a reported 2012 drill intersection of 9.67 g/t Au over 38.7 m (true width unknown; results have not been directly verified by the Company).

“We are thrilled to consolidate the Einarson Project and to acquire a full 100% interest in our Jupiter discovery alongside other promising targets,” said Scott Berdahl, CEO & Director of Snowline. “The quantity and scale of the gold targets identified at Einarson through regional baseline work and follow-up prospecting were a big part of our motivation for launching Snowline Gold in 2021. The targets themselves are compelling, and they indicate strong regional gold fertility across Einarson, Rogue and our surrounding projects. The results of our Phase 1 drilling at Einarson’s Jupiter target underscore this potential, and we are excited to follow up on that discovery and other targets in the upcoming 2024 exploration season, which will soon be underway.

“To be clear: our primary focus remains on the expansion and advancement of our Valley gold discovery on the Rogue Project. This district-level consolidation marks the realization of a long-term objective, further bolstering Snowline’s exploration pipeline and expanding our opportunity to establish a new Canadian gold camp. Following this acquisition, Snowline will have 100% ownership of its entire >3,600 km2 mineral tenure, with no royalties above 1% following buy-down. Our significant land position has the added benefits of reducing regional competition and potential for cumulative impacts, thus streamlining permitting and allowing us to approach exploration and development in a responsible, holistic fashion. We are excited to bring to our shareholders the full discovery upside potential of numerous targets within a long-life exploration portfolio.”

Figure 1 – Map of the consolidated Einarson Project, the newly acquired Venus target, and newly staked mineral claims in the vicinity of the Rogue and Einarson projects. Multiple kilometers-scale exploration targets have been identified at Einarson, including the “Golden Lane,” a 30 km linear trend of consistently elevated to anomalous gold in soils which includes the Company’s “Neptune” and “Luna” targets (formerly “Misty” and “B2”), along with Avalanche Creek, a 1 km mineralized float train with grab samples of up to 34.2 g/t Au located 12 km south of Jupiter along the same structural trend.

As consideration for the acquisition of the outstanding 30% interest in Einarson, 100% interest in Venus, 100% interest in several additional claims, and the purchase of physical assets in the area, Snowline will make a cash payment of C$1,200,000 and a one-time share payment of 1,012,000 Snowline shares, subject to a four-month hold period, to an arm’s length private third party (the “Vendor”). The Vendor will retain a 2% Net Smelter Return (NSR) royalty on the Venus claim block (Figure 1). In connection with the agreement, the Vendor will grant Snowline the right to repurchase 50% of the Venus NSR (equivalent to 1% NSR interest) from the Vendor at any time following the closing of the agreement, to be satisfied by the delivery of 1,000 ounces of gold or the cash equivalent at the time of exercise of the buydown right. The Vendor will also be entitled to up to seven (7) individual, one-time cash bonus payments of C$1,000,000 in the event of a resource estimate prepared in accordance with NI 43-101 standards which delineates total measured and indicated resources exceeding 1 million ounces of gold on any of six specified mineral claim groupings within the consolidated claims and one additional claim grouping covering the Venus claim block. The purchase agreement is subject to a number of standard conditions, and it is anticipated that closing will occur prior to May 15, 2024.

JUPITER

Snowline’s Jupiter Target hosts an epizonal orogenic gold system, discovered through a Phase 1 drilling program completed by the Company in 2021 (e.g. Figure 2). Widespread gold mineralization was encountered across 1.1 km of strike length within an open geochemical anomaly spanning roughly 3 km along a structural trend. Follow-up drilling on this discovery was postponed until consolidation of 100% ownership of the underlying claims could be resolved.

Figure 2 – Drill section showing holes J-21-010 to J-21-013, with gold assays represented as yellow bar plots downhole (see Snowline press release dated October 13, 2021). A preliminary schematic interpretation suggests mineralized zones (red) dip roughly east-northeast, though this basic interpretation is unlikely to capture structural complexity suggested by fold and fault structures observed in drill core, and the continuity between holes remains to be seen. Hole J-21-012 was drilled towards the viewer and is truncated where it pierces 50 m in front of section. It was only assayed in a few select intervals below this point. True widths of reported intersections are not yet known but are expected to be between 50 to >90% of reported intervals.

Additional areas of orogenic gold mineralization are present on parallel fault structures in the vicinity of Jupiter. Twelve kilometres south of Jupiter, the Avalanche Creek target hosts a mineralized boulder train (Figure 3) similar to that discovered at Jupiter, with mineralized quartz cobbles and boulders returning up to 34.2 g/t Au. Four kilometres to the west, a parallel fault structure is associated with the Mars target, a 4-kilometre geochemical anomaly that has seen limited historical drilling at its extreme south end. Jupiter, Avalanche Creek, Mars, and other targets are now fully owned by Snowline.

Figure 3 – Gold-bearing quartz float boulders at Einarson Project targets Jupiter (left) and Avalanche Creek (right), present as persistent float trains dispersed for at least 1 km in each case. Both targets are associated with the same property-scale fault structure roughly 12 km apart from each other, and 4 km from the Mars target which is situated on a parallel property-scale fault. The Jupiter target float train was drill tested in 2021 (Figure 2), revealing a robust orogenic gold system which remains open. Avalanche Creek was discovered in late 2020 and has not yet been drill tested. The prominent nature of the previously unidentified mineralized boulder trains highlights the underexplored nature of the Einarson Project and the surrounding mineral district.

VENUS

The Venus claim block comprises 270 claims (5,600 ha) covering a Carlin-style gold discovery made by a private company in 2012. Surface showings of orpiment and realgar occur in the vicinity of outcropping silicified dolomite. Selective grab samples of this zone returned assays of up to 191 g/t Au. 4,159 m of diamond drilling on the target in 2012 and 2013 by the private company revealed widespread but thus far relatively inconsistent gold mineralization. The best hole returned 9.67 g/t Au over 38.7 m (including 30.64 g/t Au over 6.4 m) from 41.5 m downhole. These results have not been directly verified by Snowline, and the true width of this interval is not known.

In the context of the orogenic gold mineralization at the Einarson Project’s Jupiter target and the reduced-intrusion style gold mineralization at Rogue Project’s Valley target, the Company considers the presence of Carlin-style gold mineralization in the district an encouraging confirmation of a robust regional metallogenic framework with a propensity to form large gold systems.

STAKING

The Company has secured through staking an additional 1,071 mineral claims covering roughly 22,000 ha (220 km2) in the vicinity of its Einarson and Rogue projects (Figure 1). This staking bolsters the Company’s district-scale position in the region, infilling and strategically expanding its previous land position, covering prospective structural corridors, and adding buffers around existing targets and project areas. This staking, together with the acquisition of the Venus target, will bring the Company’s total Yukon Territory mineral tenure holdings to >360,000 ha (3,600 km2).

Roughly 11% of the 1,071 newly staked claims fall within or partly within the fixed 2 km areas of interest (AOIs) defined in Snowline (formerly Skyledger Tech Corp)’s December 1, 2020 agreement with Yukon-based company 18526 Yukon Inc., through which Snowline acquired its extensive Yukon datasets and its initial Yukon mineral properties. Claims staked within the AOIs are subject to a 2% NSR royalty and are incorporated into existing buy-down provisions which allow Snowline to reduce the NSR to 1% on a project-by-project basis. 18526 Yukon Inc. is a privately held project generation company that is owned 40% by Snowline’s CEO and Director Scott Berdahl. The remaining 89% of newly staked claims have no underlying royalties.

ABOUT SNOWLINE GOLD CORP.

Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering >360,000 ha (>3,600 km2). The Company is exploring its flagship >110,000 ha (>1,100 km2) Rogue gold project in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’s Fort Knox Mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. The Company’s first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

Figure 4 – Project location map for Snowline Gold’s eastern Selwyn Basin properties: Rogue, Einarson, Ursa, Cynthia and Olympus. The Valley target is one of several prospective reduced intrusion-related gold system (RIRGS) targets on the broader 30 x 60 km Rogue Project, complemented orogenic, Carlin-type, RIRGS and other sediment hosted gold targets on surrounding projects.

QUALIFIED PERSON

Information in this release has been prepared under supervision of and approved by J. Scott Berdahl, M.Sc., P. Geo., CEO & Director of Snowline Gold Corp, as Qualified Person for the purposes of National Instrument 43-101.

ON BEHALF OF THE BOARD

Scott Berdahl
CEO & Director

For further information, please contact:

Snowline Gold Corp.
+1 778 650 5485
info@snowlinegold.com

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.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including statements regarding the consolidation of the Einarson Project, the acquisition of the Venus target, the significance of analytical results, the prospectivity of various gold targets, and the potential for investors to participate in multiple future discoveries, the creation of a new 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 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.

SNOWLINE GOLD CORP. ANNOUNCES C$25 MILLION BOUGHT DEAL PRIVATE PLACEMENT OF FLOW-THROUGH SHARES

Vancouver, B.C. – April 3, 2024 – 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. and BMO Capital Markets, as co-lead underwriters, on behalf of a syndicate of underwriters (collectively, the “Underwriters”), have agreed to purchase, on a “bought deal” private placement basis, 3,205,000 “flow-through” shares of the Company (the “Charity FT Share”) at a price of $7.80 per Charity FT Share (“Offering Price”) for gross proceeds of $24,999,000 (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)).

The Underwriters will have the option, exercisable in whole or in part at any time up to 48 hours prior to the closing of the Offering, to arrange for the purchase of up to that number of Charity FT Shares at the Offering Price as is equal to 15% of the number of securities issued in connection with the Offering.

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, 2025, and to renounce all the Qualifying Expenditures in favour of the subscribers of the Charity FT Shares effective December 31, 2024.

The Offering is expected to close on or about April 23, 2024, 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 company with an eight-project portfolio covering >333,000 ha. The Company is exploring its flagship >94,000 ha Rogue gold project in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’s Fort Knox Mine, Northern Star’s Pogo Mine, and Victoria Gold’s Eagle Mine. The Company’s first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

ON BEHALF OF THE BOARD

Scott Berdahl, MSc, MBA, PGeo
CEO & Director

For further information, please contact:

Snowline Gold Corp.
+1 778 650 5485
info@snowlinegold.com

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.

SNOWLINE GOLD ANNOUNCES EARLY EXERCISE OF WARRANTS ADDING C$12.5 MILLION TO ITS TREASURY

Vancouver, B.C., April 1, 2024: SNOWLINE GOLD CORP. (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce the early, voluntary exercise of 5 million warrants for total proceeds to the Company of C$12.5 million. The warrants were held by Ana Maria Cox de Gubbins. Through this acquisition, Ms. Cox has expanded her position to 10.6% of the outstanding shares of the Company.

“I would like to extend my congratulations and thanks to the Snowline team for their efforts and excellent work in building significant shareholder value,” said Ms. Cox. “We have had confidence in the Berdahl family’s initial exploration ideas for this area since before the Valley discovery was made. The results we have seen to date only strengthen our conviction in Snowline as a company and in the potential of the ground they explore.”

Added Scott Berdahl, CEO & Director of Snowline: “The ongoing support of Ms. Cox from our early exploration efforts in 2021 through to today has been a key component of Snowline’s strength in a difficult capital markets landscape. We are grateful for the support and for this display of confidence through early exercise of these warrants. The funds strengthen Snowline’s current treasury position to C$46.3 million, allowing us to focus on exploration and project advancement in what promises to be an exciting and potentially transformative 2024 field season.”

EARLY WARNING DISCLOSURE

On March 28, 2024, Ana Maria Cox de Gubbins acquired 5,000,000 common shares of the Company (the “Common Shares”) upon the exercise of common share purchase warrants (the “Warrants”) at a price of C$2.50 per Warrant for an acquisition cost of C$12,500,000 (the “Acquisition”). Prior to the Acquisition, Ms. Cox owned, directly or indirectly, or exercised control or direction over, 11,120,000 Common Shares, representing approximately 7.6% of the issued and outstanding Common Shares. Immediately following the Acquisition, Ms. Cox owns, directly or indirectly, or exercises control or direction over, 16,120,000 Common Shares, representing approximately 10.6% of the issued and outstanding Common Shares. The Acquisition was made for investment purposes. In accordance with applicable securities laws, Ms. Cox may, from time to time and at any time, acquire additional securities of the Company in the open market or otherwise, and reserves the right to dispose of any or all of her securities in the open market or otherwise at any time and from time to time, the whole depending on market conditions, the business and prospects of the Company and other relevant factors. This disclosure is provided pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which the Company is a reporting issuer, containing information with respect to the foregoing matters (the “Early Warning Report”). A copy of the Early Warning Report will be available under the Company’s profile on SEDAR+ at www.sedarplus.ca or may be obtained by contacting the Company at Suite 1012 – 1030 West Georgia Street, Vancouver, BC V6E 2Y3, info@snowlinegold.com, (778) 650-5485.

ABOUT SNOWLINE GOLD CORP.

Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering >333,000 ha. The Company is exploring its flagship >94,000 ha Rogue gold project in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’s Fort Knox Mine, Northern Star’s Pogo Mine, and Victoria Gold’s Eagle Mine. The Company’s first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

ON BEHALF OF THE BOARD

Scott Berdahl
CEO & Director

For further information, please contact:

Snowline Gold Corp.
+1 778 650 5485
info@snowlinegold.com

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.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including statements regarding the potential of the 2024 field season to be a transformative year for the Company, 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 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 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.

SNOWLINE GOLD LOCATES NEW REDUCED-INTRUSION RELATED GOLD TARGET WITH OUTCROP SAMPLES TO 2.0 GRAMS PER TONNE GOLD OVER 17.0 M WITHIN OPEN 2 KM SOIL ANOMALY AT ITS ROGUE PROJECT, YUKON

  • Newly discovered 2,000 m by 500 m zone of anomalous gold values in soil and talus fines samples on Rogue Project’s “Aurelius” target, 12 km northwest of Valley target
  • Two outcrop chip samples average 2.01 g/t Au over 17.0 m and 2.31 g/t Au over 14 m respectively (true widths unknown)
  • Mineralization hosted in altered sedimentary and volcanic rocks near outcropping granodiorite.

Vancouver, B.C., February 20, 2024: SNOWLINE GOLD CORP (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce discovery of a new reduced-intrusion related gold system (RIRGS) target 12 km from its Valley discovery on its Rogue Project in the Yukon Territory, Canada. Analytical results received from the 2023 surface exploration program at the Company’s new Aurelius target reveal an open, 2,000 m long by up to 500 m wide zone of anomalous gold values in talus fines and soils, with concentrations of up to 14.9 g/t Au complemented by anomalous values for RIRGS pathfinder elements bismuth and tellurium. Rock chip samples from outcrops roughly 235 m apart averaging 2.01 g/t Au over 17.0 m (open) and 2.31 g/t Au over 14.0 m (true widths not known) demonstrate the potential for significant scale and a local source to the anomaly. Based on these results, Aurelius is a high priority exploration target at Rogue and a potential drill target in Snowline’s upcoming 2024 exploration program.

Figure 1 – Plan view of the Aurelius anomaly, showing the open extent of anomalous gold values in surface geochemistry and the location of the continuous rock chip samples. The presence of outcropping granodiorite in the vicinity of the anomaly, along with widespread magnetic highs suggest that an intact, causative intrusion may be located near surface. Background colours show geology, with green and orange units showing volcanic rocks (andesites and tuffs), while shades of yellow show sedimentary rocks (sandstones and siltstones). White areas are covered and/or have not been mapped.

“We are excited to see such strong and consistent gold numbers from the field team’s discovery at Aurelius,” said Scott Berdahl, CEO & Director of Snowline. “The scale, consistency and geochemistry of the surface anomaly—which remains open—demonstrates a strong gold-bearing hydrothermal system driven by a nearby intrusion. The outcrop samples show that the country rock hosts gold mineralization, a typical feature of reduced-intrusion related gold systems. Thus, we have two immediate exploration targets: country rock-hosted mineralization directly outcropping at Aurelius and driving the gold anomalism over a large area, and the potential for an intact, near-surface Valley-like intrusion-hosted target. Valley itself is visible from the new target along a prominent structural corridor that connects the two locations—we consider Aurelius a prospective location for a sibling discovery.”

Figure 2 – Location map showing Aurelius relative to Valley and other drilled, gold-bearing RIRGS targets on Snowline’s Rogue Project. The new target is on trend with a prominent linear northwest-southeast trending valley that hosts Snowline’s Valley discovery.

Grid and contour sampling of talus fine and soils at Aurelius delineates an open, 2,000 x 500 m zone of consistently elevated to anomalous gold concentrations, to a maximum of 14.9 g/t Au in talus fines. Eighty-nine of 192 samples (46%) returned >0.05 g/t Au, with 62 of these exceeding 0.1 g/t Au. Strong results along the southern, southeastern and northwestern limits of the survey suggest potential for a larger target area, as do anomalous talus fine results to the southwest of the main anomaly (Figure 1) and high gold values in historical stream sediment samples from surrounding drainages. Gold values at Aurelius have elevated bismuth (up to 352 ppm) and tellurium (up to 21.9 ppm) values along with generally low levels of arsenic—a geochemical signature similar to that of Snowline’s Valley discovery. Elevated to anomalous concentrations of tungsten, silver, lead and copper are also present and correlate with gold.

Two exposed outcrops at Aurelius were sampled by continuous rock chip sampling, across distances of 100 m and 22 m respectively (Figure 1). The outcrops themselves are roughly 235 m apart. The 100 m section, sampled in 2 m subsections, returned a continuously mineralized interval of 14.0 m averaging 2.31 g/t Au and 21.1 g/t Ag, including 4.0 m @ 3.59 g/t Au and 10.2 g/t Ag, and 2.0 m @ 5.49 g/t Au and 82.9 g/t Ag, along with other zones of elevated gold values (0.1 g/t to 0.4 g/t Au, with one additional 2.0 m subsection @ 3.48 g/t Au). The 22 m section, sampled in 1 m subsections, returned a continuously mineralized interval of 17.0 m averaging 2.01 g/t Au, including 2.0 m @ 4.22 g/t Au, and 2.0 m @ 4.94 g/t Au at the open edge of the 22 m section. These rock chip samples were taken by hand using rock hammers and are thus not as representative as drill core samples. True widths for the mineralized intervals are not known, but the samples were oriented nearly perpendicular to north-south and northeast-southwest structures that appear to control mineralization.

Figure 3 – Plan view showing relative locations of the two continuous outcrop chip samples taken at Aurelius. Both samples come from a tuff unit that caps a prominent east-west ridge top in the southern part of the larger geochemical anomaly.

Aurelius is underlain by a sequence of interlayered Paleozoic sedimentary and volcanic rocks, cut by steeply dipping north-south and northeast-southwest structures and altered by fluids from subsequent emplacement of intrusive rocks (Figures 1 and 3). Alteration takes the form of silicification, clay alteration associated with the structures and hornfels in sedimentary rocks. The highest gold values are associated with pervasive silicification in tuff sequences. The target sits 4.5 km west of the mid-Cretaceous Old Cabin Pluton. Airborne magnetics and the observation of outcropping granodiorite roughly 600 m west of the target highlight the presence of additional intrusive rocks in the vicinity of the anomaly, and the potential for a Valley-style mineralized intrusion located near surface at Aurelius.

The Company plans to follow up on the target aggressively in 2024, with additional surface sampling and mapping, an airborne ZTEM geophysical survey to assist in targeting, and potentially Phase I drilling.

Historical work at Aurelius is sparse. The “Horn” mineral occurrence (Yukon Minfile 105O 010) roughly 1 km west of Aurelius was noted and sampled as a copper occurrence in 1970. In 1982, two soil lines intersected parts of the anomaly, returning high gold values that have not been directly verified by the Company. Snowline had previously identified the broader area west of the Old Cabin pluton, including Aurelius, as a primary target area for exploration based on historical results and magnetic anomalism. The discovery of Aurelius marks the delineation of a new RIRGS target on the Rogue Project.

With steep, rocky terrain and poor soil development on parts of Aurelius, many surface geochemistry samples are classified as talus fines. Talus fines samples are produced by mechanical weathering of rocks and are less modified by chemical weathering than typical soils. Some elements in talus fine samples may have stronger geochemical responses than soils from over a bedrock geochemical anomaly. Talus fine samples are also more susceptible to a sampling bias wherein more easily weathered mineralized zones, such as sulphide-rich veins, can contribute a larger portion of the talus fine sediment load than the more durable and relatively barren country rock, resulting in a concentration of associated elements like gold.

ABOUT ROGUE

Snowline’s flagship Rogue Project hosts the Valley target, a newly discovered, bulk tonnage style, reduced intrusion-related gold system (RIRGS), with geological similarities to multi-million-ounce deposits currently in production such as Kinross’s Fort Knox Mine in Alaska and Victoria Gold’s Eagle Mine in the Yukon. Early drill results demonstrate unusually high gold grades for such a system, present near surface across drill intersections of hundreds of metres. 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-suite intrusion. Valley is an early-stage exploration project without a resource estimate, and while initial results are encouraging, the presence or absence of an economically viable orebody cannot be determined until additional work is completed.

The Rogue Project area hosts multiple intrusions that are geologically similar to Valley along with widespread gold anomalism in stream sediment, soil and rock samples. Elsewhere, RIRGS deposits are known to occur in clusters. The Rogue Project is considered by the Company to have district-scale potential for additional reduced intrusion-related gold systems.

ABOUT SNOWLINE GOLD CORP.

Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering >333,000 ha. The Company is exploring its flagship >94,000 ha Rogue gold project in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’s Fort Knox Mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. The Company’s first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

Figure 4 – Project location map for Snowline Gold’s eastern Selwyn Basin properties: Rogue, Einarson, Ursa, Cynthia and Olympus. The Valley target is one of several prospective reduced intrusion-related gold targets on the broader 30 x 60 km Rogue Project.

QUALIFIED PERSON

Information in this release has been prepared under supervision of and approved by J. Scott Berdahl, M.Sc., P. Geo., CEO & Director of Snowline Gold Corp, as Qualified Person for the purposes of National Instrument 43-101.

ON BEHALF OF THE BOARD

Scott Berdahl
CEO & Director

For further information, please contact:

Snowline Gold Corp.
+1 778 650 5485
info@snowlinegold.com

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.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including statements regarding the significance of analytical results, 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 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 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.

­SNOWLINE GOLD ANNOUNCES DIRECTOR RESIGNATION

Vancouver, B.C., February 5, 2024: SNOWLINE GOLD CORP (TSX-V: SGD) (OTCQB: SNWGF) (the “Company” or “Snowline”) announces today that Mr. Gunther Roehlig has tendered his resignation as an independent director of the Company, effective immediately, to focus on his other professional commitments.  He will continue to support the Company as a consultant.

Craig Hart, Chair of Snowline Gold stated, “On behalf of the Board of Directors and management, we would like to thank Gunther for his valuable contributions as a founding director of the Company, and throughout his subsequent tenure.  We wish him the best with his future endeavours and look forward to his continued support as a consultant and shareholder.”

The Board of Directors is in the process of expanding the breadth of the Board and aims to strengthen its composition with an individual having advanced project or mine development expertise, as the Company advances its Rogue Project from exploration through to resource development.

ABOUT SNOWLINE GOLD CORP.

Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering >333,000 ha. The Company is exploring its flagship >94,000 ha Rogue gold project in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’s Fort Knox Mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. The Company’s first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

ON BEHALF OF THE BOARD

Craig Hart
Independent Chair & Director

For further information, please contact:

Snowline Gold Corp.
+1 778 650 5485
info@snowlinegold.com

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.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements. 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.