SNOWLINE GOLD DOUBLES YUKON MINERAL HOLDINGS WITH ACQUISITION OF NEARBY PROJECT PORTFOLIO AND PROVIDES EXPLORATION UPDATE

  • Snowline Gold doubles its Selwyn Basin, Yukon land holdings to roughly 254,000 ha through acquisition and staking
  • Purchase of 10-property portfolio from StrikePoint Gold will add 7+ reduced intrusion related gold targets to Snowline’s exploration pipeline
  • Ongoing drilling continues to expand scale of high-density vein arrays on Rogue Project’s Valley Zone, adding to the breadth, length and depth of zones known to host intense quartz vein mineralization.

Vancouver, B.C., September 20, 2022: SNOWLINE GOLD CORP. (CSE: SGD) (OTCQB: SNWGF) (the “Company” or “Snowline”) is pleased to announce it has doubled its Selwyn Basin mineral tenure holdings to roughly 254,000 ha through targeted staking and an acquisition agreement for a large portfolio of Yukon Territory exploration assets from StrikePoint Gold Inc. (TSXV: SKP) (“StrikePoint”), an arm’s length party. The acquired properties and certain blocks of the newly staked claims are considered by the Company to be prospective for reduced-intrusion related gold systems (“RIRGS”) similar to its Valley Zone.

“Our drill discoveries provide strong proof-of-concept for the gold potential of this part of the Selwyn Basin, particularly for reduced-intrusion related gold systems like Valley,” said Scott Berdahl, CEO & Director of Snowline. “Our recent staking and the acquisition of the Yukon exploration property portfolio from StrikePoint Gold add significantly to our exploration pipeline. While our primary focus remains on our flagship Rogue and Einarson discoveries, these expansions add great depth to Snowline’s exploration pipeline, giving shareholders the potential to participate in multiple future discoveries of this type.”

STRIKEPOINT ACQUISITION

The Company has entered into an agreement with StrikePoint, whereby the Company will acquire 4,713 mineral claims from StrikePoint in exchange for (i) the payment of $500,000 in cash (the “Cash Consideration”), and (ii) the issuance of 500,000 common shares (the “Consideration Shares”) of the Company (the “Acquisition”).

The StrikePoint properties cover various geological targets prospective for gold. Most notably, the “Golden Oly” project covers a series of mid-Cretaceous aged felsic intrusions prospective for RIRGS mineralization. Limited historical work by previous operators encountered sheeted quartz vein arrays and surface grab samples of up to 19.2 g/t Au. These results have not yet been directly verified by the Company. Accompanying the mineral properties themselves is a historical exploration database including surface sampling (soil and rock) and extensive aerial magnetic data, providing the groundwork for planned initial exploration programs on these projects by Snowline.

The Consideration Shares issued in connection with the Acquisition are subject to a statutory hold period of four months and one day from the closing of the Acquisition, in accordance with applicable Canadian securities laws, and a contractual hold period of six months from the closing of the Acquisition.

There are no pressing claim maintenance costs for this property package. As carried over from a previous agreement, the mineral claims are subject to a 2% NSR and up to three milestone cash payments of $750,000 if total expenditures of $7,500,000, $15,000,000, and $25,000,000 are reached.

The Acquisition remains subject to acceptance by the Canadian Securities Exchange (the “CSE”) and various closing conditions which are standard for such transactions.

Figure 1 – Snowline Gold’s expanded claim position following recent staking and Acquisition. Discoveries on Snowline’s Rogue project led the Company to acquire a significant land package from StrikePoint Gold, believed to be prospective for a similar style of mineralization (reduced-intrusion related gold systems). The Company has also bolstered its existing land positions through extensive, targeted staking.

STAKING

In addition to the Acquisition, the Company has significantly expanded its Rogue, Einarson, Ursa, Rainbow and Cynthia projects through staking (Figure 1). Newly acquired areas were identified by the Snowline team as having elevated potential to host gold deposits based on geological, geochemical and geophysical information and based on the Company’s evolving understanding of rocks and mineralization in this area through its surface and drill campaigns.

EXPLORATION UPDATE

Ongoing drilling at Snowline’s Valley Zone has encountered additional long intervals of high-density sheeted quartz veins, similar in character to that encountered in holes V-22-005 and V-22-007 (331.3 m @ 1.03 g/t Au including 192.0 m @ 1.52 g/t Au, and 282.9 m @ 2.30 g/t Au including 146.0 m @ 3.24 g/t Au, respectively; see Snowline news release dated August 24, 2022), and similar in character to other holes for which assays have yet to be received (Figure 2).

Drilling is ongoing at Valley, with 9,919 m drilled on the target so far this season for 10,718 m total drilled on the target to date. Assays for more than 22 holes drilled at Valley in 2022 remain pending, including assays for the bottom 31% of V-22-007. In total, this represents roughly 8,991 m of drilling (and counting), or 91% of the current season’s results from the Valley Zone still to be reported.

At Gracie, trace instances of fine visible gold have been observed in bismuthinite bearing quartz veins in 4 of 5 holes. A total of 2,152 m has been drilled at Gracie, though drilling has yet to encounter the buried intrusion responsible for mineralization. Assays are pending for all holes at Gracie.

Figure 2 – Drilling progress at the Valley Zone, showing vein densities (top) and instances of visible gold alongside assays received to date (bottom). Roughly 91% of assays for the 2022 drill program have yet to be received, though observations of drill core demonstrate the presence of gold bearing vein system present at varying intensities across a 1,000 m by 800 m intrusion.
Figure 3 – Cross section showing vein densities and visible gold in V-22-010 and V-22-029. Hole V-22-029 encountered high quartz vein densities along with visible gold, expanding the known width and significantly expanding the known depth of mineralization. Note that the hole has not yet been surveyed, and thus true depth below surface is not yet known. View looks northwest along the strike of the system. The surface trace of the A to A’ cross section shown can be seen in Figure 2.
Figure 4 – Cross section showing vein densities and visible gold in V-22-018, 026, 027 and 028. View looks northwest along the strike of the system. Note that V-22-027 is projected onto the section from behind; the surface trace of the B to B’ cross section shown can be seen in Figure 2.
Figure 5 – Quartz vein mineralization in V-22-026, from surface to 33.6 m downhole. Intense quartz vein mineralization begins at bedrock surface, accompanied by abundant trace instances of visible gold (marked by orange flags above core). Assays for this hole are pending.
Figure 6 – Quartz vein mineralization in V-22-029, from 127.7 m to 152.7 m downhole. The hole encountered high density quartz veining father to the northeast than expected, locally expending the width of the high-density central vein corridor. Moderate to high vein densities farther down hole appear to extend the known depth of the system well below previous depths of 430 m below surface (as encountered in V-22-015, assays pending). Instances of visible gold are marked by orange flags above core. Assays for this hole are pending.

ABOUT ROGUE

The geological setting and style of mineralization at Rogue’s Valley Zone indicate the presence of a bulk tonnage gold target, with similarities to Kinross’s Fort Knox Mine in Alaska and Victoria Gold’s Eagle Mine in the Yukon. Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays along the margins of a mid-Cretaceous aged Mayo-series intrusion. The Rogue Project hosts multiple intrusions of similar age and affinity to that at Valley along with widespread gold anomalism in stream sediment, soil and rock samples. The project is thus considered by the Company to have district-scale prospectivity for reduced-intrusion related gold systems.

Valley is an early-stage exploration project without a mineral resource estimate, and the presence or absence of an economically viable orebody cannot be determined until significant additional work is completed.

ABOUT SNOWLINE GOLD CORP.

Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seventeen-project portfolio covering >254,000 ha. The Company is exploring its flagship >111,000 ha Einarson and Rogue gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’ Fort Knox mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. 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.

QUALIFIED PERSON

Information in this release has been prepared under supervision of and approved by J. Scott Berdahl, M.Sc., P. Geo., CEO and Director for Snowline and a 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

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including statements regarding the completion of the Acquisition, including CSE acceptance, payment of the Cash Consideration and the issuance of the Consideration Shares, newly staked targets being considered by the Company to be prospective for RIRGS and/or gold, the potential to participate in multiple future discoveries, newly acquired areas having elevated potential to host gold deposits, 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 INTERSECTS 2.3 GRAMS PER TONNE GOLD OVER 282.9 METRES AT ITS VALLEY ZONE AND COMMENCES DRILLING AT GRACIE, ROGUE PROJECT, YUKON

  • The top of drill hole V-22-007 returned 2.30 g/t Au over 282.9 m from bedrock surface, including 3.24 g/t Au over 146.0 m from 56.0 m downhole
  • Assays for bottom 127.1 m of drill hole V-22-007 still pending
  • Hole V-22-005 returned 1.52 g/t Au over 192.0 m from 132 m downhole, within a broad interval of 1.03 g/t Au over 331.3 m from bedrock surface to end of hole
  • First-ever drilling commenced at Gracie Zone, with visible gold observed in G-22-001
  • Drilling ongoing at both targets, assays pending for majority of program.

Vancouver, B.C., August 24, 2022: SNOWLINE GOLD CORP. (CSE: SGD) (OTCQB: SNWGF) (the “Company” or “Snowline”) is pleased to announce initial, preliminary assay results from its 2022 drilling program at the Valley Zone, Rogue Project, Yukon, and to provide a general exploration update. Holes V-22-005 and V-22-007 each intersected broad zones of mineralization averaging >1.5 g/t Au over significant widths. V-22-007 averaged 2.30 g/t Au over 282.9 m from bedrock surface to 288.0 m depth, with assays still pending past that point for the bottom 127.1 m (31% of the total hole).

Table 1 – Preliminary highlight intervals from the Valley Zone. Holes V-22-005 and V-22-007 both intersected a broad central corridor of abundant sheeted quartz veins cutting through the Valley intrusion. *Interval widths reported; true widths of the system are not yet known and may be gradational. **Only the top 282.91 m of V-22-007 have been received to date; assays for the bottom 127.1 m of the hole still pending.

“Our initial assay results demonstrate increasing scale and fertility in the Valley Zone,” said Scott Berdahl, CEO & Director of Snowline. “In an aggressive step back 154 m to test the width of the system with Hole V-22-005 and an aggressive step out 340 m along the length of the system with V-22-007 we’ve encountered grades and intervals greater than those of our discovery holes last season. These high grades are associated with unusually high quartz vein densities that are present across a large area. The presence of consistent grades from near surface is also encouraging as it improves the potential economics of the prospect. The Valley discovery is a work in progress—we eagerly await the remainder of results for V-22-007 and for many other holes from this year’s ongoing drill campaign.”

Figure 1 – Cross section showing V-22-007 assay results in the context of vein densities in surrounding holes. Vein densities similar to those seen in V-22-007 are also observed near surface in V-22-014 and at depth in V-22-015. View looks northwest along the strike of the system. The surface trace of the B to B’ cross section shown can be seen in Figure 5.

HOLE V-22-007

Hole V-22-007 was collared in the Valley intrusion and remained in the intrusion for its entire length. Moderate to strong (>15 veins/metre) quartz vein intensities occur regularly throughout the hole.

Gold grades within V-22-007 exhibit a high degree of consistency. 168 of 232 samples—representing 204.85 m (non-contiguous) or 72.4% of the 282.9 m length of the interval returned to date—assayed higher than 1.0 g/t Au. Conversely only five samples—representing 6.5 m (again, non-contiguous) or 2.3% of the length of the hole returned to date—assayed below 0.2 g/t Au, with the lowest assay for the hole returning 0.152 g/t Au over 0.5 m. When capped at 10 g/t Au, the interval received to date (282.91 m) drops by just 0.05 g/t Au from an average of 2.30 g/t Au to 2.25 g/t Au (Table 2).

Only partial results from hole V-22-007 have been received at this time. For expediency in processing, the top 282.9 m of the hole were shipped when ready on an available supply flight, independently of the bottom 127.1 m. Results for the remainder of the hole will be released when available.

Figure 2 – Quartz vein mineralization in V-22-007, from 133.5 m to 159.9 m downhole, as shown previously in the Company’s June 30, 2022 news release. This interval returned an average of 3.17 g/t Au, within a broader interval averaging 3.24 g/t Au over 146.0 m from 56.0 m to 202.0 m downhole.

HOLES V-22-005 AND V-22-006

Holes V-22-005 and V-22-006 were drilled along section with 2021 discovery hole V-22-003 (1.25 g/t Au over 168.7 m from bedrock surface – see Snowline news release dated February 10, 2022) to test the local width of the mineralized quartz vein system.

Figure 3 – Cross section showing V-22-005 and V-22-006 assay results in the context of surrounding holes. The view looks northwest along the strike of the system, with the width of the system open to the northeast and open to depth. The surface trace of the A to A’ cross section can be seen in Figure 5.

Hole V-22-005 was collared in the Valley intrusion as a 154 m step back from V-21-003 to test width of the system. The hole averaged 1.03 g/t Au across its entire 331.30 m length, including 191.95 m averaging 1.52 g/t Au from 132.0 m downhole. As with V-22-007, capping of assays at 10 g/t Au only diminishes overall grade by 0.05 g/t Au (Table 2), demonstrating the widespread and relatively consistent nature of gold mineralization.

Hole V-22-006 was collared at the same site as V-22-005 and drilled to the northeast as a further test of the width of the system. The hole encountered sheeted quartz vein mineralization in diorite, averaging 0.23 g/t over its entire 301.0 m length with broadly consistent grades and mineralization to the end of the hole.

Figure 4 – Quartz vein mineralization in V-22-005, from 264.3 m to 277.4 m downhole, as shown previously in the Company’s June 30, 2022 news release. This interval returned an average of 1.09 g/t Au, within a broader interval averaging 1.52 g/t Au over 192.0 m from 132.0 m to 324.0 m downhole.
Table 2 – Summary of all 2022 drill hole assay results received to date. Holes V-22-005 and V-22-006 are mineralized along their entire lengths, and V-22-007 carries anomalous grades along the entire 282.91 m interval received to date. Several zones of higher grades are present, but capping these at 10 g/t Au shows that the intervals are carried by robust mineralization along their lengths. *Interval widths reported; true widths of the system are not yet known and may be gradational. **Only the top 282.91 m of V-22-007 have been received to date; assays for the bottom 127.1 m of the hole still pending.
Figure 5 – Drilling progress at the Valley Zone, showing vein densities (top) and instances of visible gold (bottom). Instances of trace visible gold in quartz veins have been identified along roughly 1000 m of strike length to date, between holes V-21-004 and V-22-022.

VALLEY DRILLING UPDATE

Two drills are active at Valley, with 6,750 m drilled on the target so far this season for 7,554 m total drilled on the target to date. Drilling to the southeast of previous holes has extended the known strike length of the mineralization to >1 km, with lower vein densities to the extreme southeast. Hole V-22-024 was drilled roughly 1.3 km southeast of V-21-004 to test a magnetic low thought to be a potential southeastern extension of the Valley. Dioritic dikes up to 26.2 m drilled width (true width unknown) were encountered in drill core, but the hole was primarily hornfels and sediment, with light quartz veining.

GRACIE ZONE DRILLING

Initial drilling has also commenced at the nearby Gracie Zone, with sparse quartz-bismuthinite veins and 3 instances of trace visible gold encountered in G-22-001, the first-ever drill hole into the target.

Figure 6 – Initial holes at Gracie, showing the locations and vein densities in the context of surface geochemistry. G-22-001 intersected silicification and mostly light to locally moderate quartz veining, with 3 instances of visible gold. G-22-002 intersected fractured sedimentary rocks with light veining and was discontinued at 165 m. Assays for both holes are pending, and drilling at Gracie is ongoing.

The hole, drilled to a total depth of 380.16 m, intersected a deformed and hornfelsed sedimentary succession. The rocks intersected in the hole predominantly exhibit biotitic and sericitic alteration with moderate silicification and minor carbonatization. Disseminated to semi-massive pyrrhotite, pyrite and chalcopyrite are associated with alteration and quartz-carbonate-sulphide veins, up to 2 cm in width, that comprise pyrrhotite, pyrite, chalcopyrite and bismuthinite with visible gold hosted in the veins at 62.9 m, 265.8 m and 275.5 m. Locally, vein densities are up to 5 veins/metre, though more typical is 0.5-1 vein/metre over the length of the hole. Assays for this hole are pending.

ABOUT ROGUE

The geological setting and style of mineralization at Rogue’s Valley Zone indicate the presence of a bulk tonnage gold target, with similarities to Kinross’s Fort Knox Mine in Alaska and Victoria Gold’s Eagle Mine in the Yukon. Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays along the margins of a mid-Cretaceous aged Mayo-series intrusion. The Rogue Project hosts multiple intrusions of similar age and affinity to that at Valley along with widespread gold anomalism in stream sediment, soil and rock samples. The project is thus considered by the Company to have district-scale prospectivity for reduced-intrusion related gold systems.

Valley is an early-stage exploration project without a resource estimate, and the presence or absence of an economically viable orebody cannot be determined until significant additional work is completed.

QA/QC

On receipt from the drill site, Valley’s NQ-sized drill core was systematically logged for geological attributes, photographed and sampled at Snowline’s 2022 field camp. Sample lengths as small as 0.5 m were used to isolate features of interest, otherwise a default 1.5 m downhole sample length was used. Core was cut in half lengthwise along a pre-determined line, with one half (same half, consistently) collected for analysis and one half stored as a record. Standard reference materials, blanks and duplicate samples were inserted by Snowline personnel at regular intervals into the sample stream. Bagged samples were sealed with security tags to ensure integrity during transport. They were delivered by expeditor and by Snowline personnel to ALS Laboratories’ preparatory facility in Whitehorse, Yukon, with analyses completed in Vancouver.

ALS is accredited to ISO 17025:2005 UKAS ref 4028 for its laboratory analysis. Samples were crushed by ALS to >70% passing below 2 mm and split using a riffle splitter. 250 g splits were pulverized to >85% passing below 75 microns. A four-acid digest with an inductively coupled plasma mass spectroscopy (ICP-MS) finish was used for 48-element analysis on 0.25 g sample pulps (ALS code: ME-MS61L). All samples were analysed for gold content by fire assay with an atomic absorption spectroscopy (AAS) finish on 30 g samples (ALS code: Au-AA23). Any sample returning >10 g/t Au was reanalysed by fire assay with a gravimetric finish on a 30 g sample (ALS code: Au-GRA21).

Samples with visible gold and other samples returning >2.0 g/t Au by fire assay, along with a set of randomly selected samples, will undergo further processing, analysing the screen rejects to determine whether the screening process could introduce a sampling bias in current results by excluding coarse gold from analysis, resulting in an under-reporting of true grades. Other biases are also possible.

Table 3 – QA/QC failures from assay results received to date. 7 of 74 QA/QC samples returned values outside of 2 standard deviations from an expected concentration (or, in the case of blanks, above detection limit). Most errors are small, and overall they do not appear to reflect a systematic problem with the assays. Affected sample batches will be re-run to ensure a high standard of data quality.

As noted, results reported herein are considered preliminary following receipt of a low percentage of abnormal assays from standard and blank samples inserted by the Company into the Valley sample stream. (Standard samples are prepared by a third-party laboratory to have known quantities of gold, and blank samples are known to contain very limited concentrations of gold.) In total, 7 of 74 reference samples fell outside of acceptable limits. Two standards failed with low values underreporting gold, while four failed with high values overreporting. Reanalysis of samples run along with these reference materials will provide greater certainty in the final assay numbers. These results will be reported if a material difference is identified between the current assays and the re-run sample batches. Based on the widespread and consistent mineralization throughout all three holes reported herein, however, the Company does not believe that the re-analysis of this relatively small number of samples will have a significant impact on the preliminary mineralized intervals reported herein. 

WARRANT EXERCISES

During the months of July and August 2022 (to date), 5,033,018 warrants were exercised, for gross proceeds to the company of $2,611,205.75.

ABOUT SNOWLINE GOLD CORP.

Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seven-project portfolio covering >127,000 ha. The Company is exploring its flagship >85,000 ha Einarson and Rogue gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’ Fort Knox mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. 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 7 – Project location map for Snowline Gold’s eastern Selwyn Basin properties. The Valley and Gracie Zones on the Rogue are the sites of current drilling.

1 These results are considered preliminary as 7 out of 74 of the Company’s QA/QC insertions of blanks and standard reference materials into holes V-22-005 through 007 returned values of outside of acceptable limits. This is not an unusual nor necessarily unexpected failure rate. In response, five samples on either side of failed insertions will be reanalysed along with the insertions themselves. Given the scale and general consistency of the gold mineralization across the holes where insertions did pass QA/QC screening, the Company deems these preliminary results to be strongly indicative of overall grade and thus material information. Final assay results may be updated in a future release. For more information, see the QA/QC section of this release.


QUALIFIED PERSON
 
Information in this release has been prepared under supervision of and approved by Thomas K. Branson, M.Sc., P. Geo., Exploration Manager for Snowline and a 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

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including statements about the Company’s upcoming drill program, implied significance of visual inspection of drill core, outcomes of mineral tenure ownership resolution, 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 FURTHER EXPANDS MINERALIZED FOOTPRINT OF VALLEY ZONE AND MOBILIZES THIRD DRILL TO ITS ROGUE PROJECT, YUKON

  • Sheeted vein mineralization observed across 700 m by 800 m area at Valley, with mineralization open in all directions and wider step-outs planned
  • Central corridor of high vein density up to 300 m wide, 600 m long (open) and 430 m deep (open) encountered in holes V-22-005, 007, 010, 012, 014 and 015
  • V-22-015 in system for entire 554 m length, with broad zones of high vein density
  • All assay results and latest drill core evaluations pending, drilling ongoing.

Vancouver, B.C., August, 3 2022: SNOWLINE GOLD CORP. (CSE: SGD) (OTCQB: SNWGF) (the “Company” or “Snowline”) is pleased to announce that it has encountered gold bearing quartz vein mineralization in multiple large step-out holes at its Rogue project’s Valley Zone in Canada’s Yukon Territory (Figure 1). Characteristic sheeted veins are present at various intensities across the roughly 800 m width of the intrusion and extending into the surrounding hornfelsed rocks, and along 700 m of strike length tested to date. Of note is a corridor of high vein densities (commonly >15 veins/m) up to 300 m wide intersected across 600 m of strike length and open along strike, with robust mineralization intersected at 430 m below surface and open to further depth.

Figure 1 – Drilling progress at the Valley Zone, showing quartz vein densities in drill core. Veins range in thickness from several mm to 30 cm true width. Vein densities are considered by the Company a general indicator of gold potential, though other factors can influence grade within and between holes. Assays remain pending for all holes drilled in 2022. A potential southeastern extension of the Valley intrusion is suspected based on aerial magnetic data collected in 2021 and 2022.

“We are very encouraged by the scale of the mineralized system we are seeing at Valley,” said Scott Berdahl, CEO & Director of Snowline. “Each successful step-out across hundreds of metres adds significantly to the bulk-tonnage potential of the target, and mineralization is present from surface to the bottoms of the deepest holes we’ve drilled to date—to 554 m downhole corresponding to 430 m below surface. Of course, we won’t know the true significance of the discovery until we have drill core assays back. Lab estimates now point to mid-August for return of our first holes of the 2022 exploration season.”

Figure 2 – Schematic cross section across the ~800m width of the Valley intrusion showing quartz vein densities and occurrences of trace visible gold. The mineralized vein sets strike roughly perpendicular to this section (into and out of the page). The highest vein densities and thickest quartz veins are consistent across multiple holes within a central corridor, which remains open along strike and to depth. Vein densities in V-22-013, the least mineralized in terms of overall quartz veining, commonly exceed 5 veins/m. The location of the cross section is shown on Figures 1 and 3, with the view looking northwest.

CENTRAL MINERALIZED CORRIDOR

High quartz vein densities previously reported in holes V-22-005 and V-22-007 appear to form part of a well-mineralized corridor cutting NW-SE through the Valley intrusion. Drilling to date suggests a true width to this zone of up to 300 m where tested. The length of the system is open, and runs roughly 600 m from V-22-005 in the NW to V-22-012 in the southeast. Similarly, mineralization remains open at depth; holes V-22-014 and V-22-015 intersect the zone at surface and to as deep as 430 m below surface, respectively, with moderate to high vein densities continuing to depth (Figure 2). Hole V-22-010 tested the eastern boundary of the corridor, with 120 instances of trace, sub-millimeter scale visible gold observed along the length of the 404 m hole during logging and after cutting (Figure 3).

Figure 3 – Instances of trace visible gold encountered in drilling at Valley. Gold grains are sub-millimeter in scale, often between 10 and 100 microns (0.01 to 0.1 mm) in size, and commonly found in association with bismuthinite and tellurium minerals. While the presence of visible gold demonstrates the presence of gold and is thus an encouraging sign, in such systems its presence does not correlate perfectly with gold grades. It is also somewhat subjective, as the ultimate count can depend on the attention to detail of one core logging geologist versus another.
Figure 4 – Quartz vein mineralization in V-21-015, from 396 to 428 m downhole. The hole is mineralized to varying degrees along its entire 554 m length. From approximately 364 m to 502 m downhole it intersects at depth the same zone of abundant quartz veins encountered in both V-22-007 and V-22-014, with densities commonly above 15 veins/m and locally exceeding 30 veins/m, with individual veins up to 20 cm true thickness. Multiple crosscutting quartz vein generations are present, and trace instances of fine-grained visible gold were observed at points along the length of the hole (Figure 2).

BROADER VALLEY INTRUSION

Holes V-22-013 and V-22-017 continue to build out the overall extent of known mineralization within the Valley intrusion, complementing the low to moderate densities of sheeted vein arrays seen in V-22-006 and in the bottom of V-22-008, and demonstrating the (open) length of the system across roughly 700 m to date. Vein densities in these holes are generally comparable and locally in excess to those encountered in 2021 drilling near the northwest edge of the intrusion, where intercepts of up to 1.25 g/t Au over 168.7 m were encountered. The 2021 holes crosscut both hornfelsed metasedimentary rocks and intrusive rocks. It remains to be seen whether similar vein densities in different host rock types (e.g. entirely in the intrusion) can be expected to carry similar grades within this system.

The local width of the intrusion along the section including V-22-007 and V-22-015 is roughly 800 m, with low to locally moderate (5-15 veins/m) densities of quartz veins continuing into the surrounding hornfelsed metasedimentary rocks. To the southeast, recently collected airborne magnetic data suggests the potential presence of a continuation of the Valley intrusion, or alternatively a smaller secondary stock hidden beneath cover.

In total, roughly 5,200 m of drilling has been completed at Valley in 2022 across 14 holes. Drill holes V-22-009 and V-22-016 were abandoned due to thick downslope talus cover, and steepened to reach bedrock (becoming holes V-22-011 and V-22-017).

Assays for all holes drilled to date in 2022 are pending, and drilling of additional holes at Valley is ongoing. The Company finds these visual results to be encouraging, and it cautions that the significance of the observations reported herein will not be known until assays are received and reviewed. Vein densities are a primary factor in determining grade, but other factors including typical vein thickness, individual vein grades (including presence of visible gold), host rock type and relative location within the hydrothermal fluid system can influence overall gold grade. Valley is an early-stage exploration project without a resource estimate, and the presence or absence of an economically viable orebody cannot be determined until significant additional work is completed.

THREE DRILLS NOW ACTIVE

A third helicopter-portable drill has mobilized to the Valley Zone. The drills and the geological team are working in tandem to continue building out the scale of known mineralization at Valley.

One drill is slated to move to the Gracie Zone, some 4 km east of Valley, where an intrusion thought to be related to Valley is present below surface. Aerial magnetic work and mapping have identified multiple structural corridors, including a sheeted join/vein array in hornfels sediment that parallels a dominant mineralization orientation at the Valley Zone. This Phase I program will be the first-ever drill testing of the Gracie Zone.

Figure 5 – Location of V-22-007 and V-22-012 in the context of the broader Valley-Gracie trend. Surface geochemistry and geophysics (Z-axis Tipper Electromagnetic Survey) data suggest the presence of a potentially similar reduced intrusion related gold system at Gracie. Snowline plans to initiate Phase I drilling at Gracie in August.

ABOUT ROGUE

The geological setting and style of mineralization at Rogue’s Valley Zone indicate the presence of a bulk tonnage gold target, with similarities to Kinross’s Fort Knox Mine in Alaska and Victoria Gold’s Eagle Mine in the Yukon. An 800 m Phase I drill program conducted at Valley in September 2021 encountered broad zones of gold mineralization in all four holes drilled (see Snowline news release dated February 10, 2022). Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays along the margins of a mid-Cretaceous aged Mayo-series intrusion.

Figure 6 – Project location map for Snowline Gold’s eastern Selwyn Basin properties. The Valley and Gracie Zones on the Rogue are the sites of current and planned drilling.

ABOUT SNOWLINE GOLD CORP.

Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seven-project portfolio covering >127,000 ha. The Company is exploring its flagship >85,000 ha Einarson and Rogue gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’ Fort Knox mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. 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.

QUALIFIED PERSON

Information in this release has been prepared under supervision of and approved by Thomas K. Branson, M.Sc., P. Geo., Exploration Manager for Snowline and a 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

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including statements about the Company’s upcoming drill program, implied significance of visual inspection of drill core, outcomes of mineral tenure ownership resolution, 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 ANNOUNCES COMPLETION OF SECOND TRANCHE OF NON-BROKERED PRIVATE PLACEMENT FOR C$2.9 MILLION

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

August 2, 2022 – Vancouver, B.C. – Snowline Gold Corp. (CSE: SGD) (OTCQB: SNWGF) (the “Company” or “Snowline”) is pleased to announce that it has completed the second tranche of its previously announced (July 5, 2022) non-brokered private placement, issuing 2,342,293 units of the Company (the “Units”) at a price of C$1.25 per Unit, for aggregate gross proceeds of C$2,927,866. Each Unit is comprised of one common share of the Company and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”), with each Warrant being exercisable for one common share of the Company at an exercise price of C$2.50 until August 2, 2024 (the “Offering”).

Figure 1 – A visual breakdown of the Offering. The Unit component is a “hard dollar” (i.e. non-flow through) raise, and the Warrants are valid for two years. The FT Shares do not involve warrants, and they are supported by strong back-end Snowline investors who do not receive the flow-through benefits.

The gross proceeds from the issue and sale of Units will be used to support advancement of exploration on the Company’s Yukon Territory mineral properties and for general and working capital purposes.

All securities issued in connection with the second tranche of the Offering are subject to a hold period of four months and one day from the closing of the second tranche of the Offering, in accordance with applicable Canadian securities laws, expiring on December 3, 2022.

Crescat Capital LLC (“Crescat”) subscribed to the Offering to maintain its pro-rata interest pursuant to its pre-emptive right granted under the terms of an investment agreement with Snowline, to participate in certain equity offerings undertaken by the Company. Crescat has beneficial ownership of, control or direction over, directly or indirectly, more than 10% of the issued and outstanding common shares of the Company. Accordingly, the Offering and the issuance of the Units insofar as they involve Crescat constitutes a related party transaction for the purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is not required to obtain a formal valuation for the Offering by virtue of section 5.4 of MI 61-101. In addition, the Company is relying on the exemption from the formal valuation and minority approval requirements of MI 61-101 set out in section 5.5(a) and section 5.7(a) of MI 61-101 as the fair market value of the Offering is not more than 25% of market capitalization. A material change report will be filed in connection with the Offering less than 21 days in advance of the closing of the Offering, which the Company deems reasonable in the circumstances so as to be able complete the Offering in an expeditious manner.

No finder’s fees have been nor will be paid in connection with the Offering.

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 a seven-project portfolio covering >127,000 ha. The Company is exploring its flagship >85,000 ha Rogue and Einarson gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’ Fort Knox mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. 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

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 intention to file a material change report 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 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 AGREEMENT WITH NACHO NYAK DUN DEVELOPMENT CORPORATION TO POWER MAIN CAMP WITH LARGE-SCALE SOLAR GENERATOR

  • 27 kW solar generator installed at Snowline’s camp is expected to provide the vast majority of in-camp electrical power
  • Fuel savings estimates are as high as 12,527 litres, translating to a 90% reduction in carbon emissions for camp power production based on 2021 camp data
  • Strong collaborative relationship with Nacho Nyak Dun Development Corporation continues to provide direct economic impacts to the First Nations and to the Yukon

Vancouver, B.C., August 2, 2022: SNOWLINE GOLD CORP. (CSE: SGD) (OTCQB: SNWGF) (the “Company” or “Snowline”) is pleased to announce it has entered into a 5-year lease agreement with the Nacho Nyak Dun Development Corporation (NNDDC) for installation and use of a 27 kilowatt solar generator system.  Designed and built by Yukon-based Solvest Inc., the solar generator will dramatically reduce diesel consumption at Snowline’s 45-person “Forks” camp on its Rogue Project in the eastern Yukon, located within the Traditional Territory of the First Nation of Na-Cho Nyak Dun (FNNND).

Figure 1 – Solar Panels in position at Snowline’s newly built Forks Camp. Designed by Solvest Inc. the hybrid-solar generator system is among the first of its kind to be used to power a remote exploration camp in Canada.

Estimates provided by Solvest based on data collected from Snowline’s 2021 field program predict the new solar generator could save up to 12,572 litres of diesel per season, reducing carbon dioxide emissions from the camp generator by 90%. This reduces not only fuel costs, but also the total number of flights required to support the project, resulting in a net positive impact both financially and environmentally. Additional benefits include the associated reduction in diesel generator operating time, which lessens camp noise to create better living standards for crew, while also lowering the potential for disturbance of local wildlife.

“Investments such as this are examples of how Indigenous businesses are leading the way in accelerating the green economy, and innovations such as this provide opportunities for such entities to become increasingly engaged in the mineral resource sector,” said Jani Djokic, CEO of NNDDC. “We see this investment as just the first of many of its kind and we are working towards building a fleet that can be deployed throughout the Traditional Territory.” 
Figure 2 – Snowline Forks Camp panorama. Estimates provided by Solvest Inc., put annual fuel savings as high as 12,572 litres of diesel, a decrease of 90% of camp generator fuel use.
“This project is a tangible example of how Snowline is realizing our corporate vision” said Steve Rennalls, Operations Manager for Snowline. “It increases efficiency while creating financial and environmental value. It improves our employees’ work environment, it is yet another collaborative project with the Nacho Nyak Dun Development Corporation, and it is provided by Solvest, one of the Yukon’s most innovative companies.”

Added Scott Berdahl, CEO and Director of Snowline: “We are grateful to the Nacho Nyak Dun Development Corporation and to Solvest for presenting Snowline with this opportunity to innovate. The initiative puts Snowline into another ‘first mover’ category as we look for ways to eliminate the negative and enhance the positive impacts of our exploration activities. We trust the data collected will be instrumental in allowing additional resource companies to effectively assess potential renewable energy solutions.”

Installation of the solar generator system is complete, and the system is now fully operational, providing a majority of the camp’s power.

Cooperation with NNDDC owned and affiliated companies has been instrumental to Snowline’s discovery successes. These companies have provided substantial support to the Company’s 2021 and 2022 field programs, providing general exploration services, vegetative reclamation, drilling, fixed and rotary wing air support, and other services.
Figure 3 – Solar panels in position at Snowline’s newly built Forks Camp. Located on a plateau in a wide, open valley at 63.8° N latitude, the Forks Camp is ideally situated to take advantage of long hours of summer sunlight. 

Figure 4 – Project location map for Snowline Gold’s eastern Selwyn Basin properties. The newly built forks camp is equidistant to its Valley and Jupiter drill discoveries and central to multiple additional targets. 
ABOUT SNOWLINE GOLD CORP. 
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seven-project portfolio covering >127,000 ha. The Company is exploring its flagship >85,000 ha Einarson and Rogue gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’ Fort Knox mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. 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.
 
ABOUT NACHO NYAK DUN DEVELOPMENT CORPORATION
 
This year NNDDC is celebrating 25 years of business. NNDDC is the primary active business arm of the First Nation of Na-Cho Nyak Dun, developing and managing business interests that provide a return to the Nation, both within and outside the Traditional Territory. This project is just one example of the types of partnerships that NNDDC has created over the years.  
 
ON BEHALF OF THE BOARD OF SNOWLINE

Scott Berdahl
CEO & Director
 
For further information, please contact:
Snowline Gold Corp.
+1 778 650 5485
info@snowlinegold.com
 
Jani Djokic, CEO                            
Nacho Nyak Dun Development Corporation
+1 867 456 4340
execassist@nnddc.ca

Alex Maltais, Marketing Manager
Solvest Inc.

+1 867 457 5690
amaltais@solvest.ca

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including statements about the expected performance of the leased solar generator system 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 ANNOUNCES COMPLETION OF FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT FOR C$22.3 MILLION AND GRANTS STOCK OPTIONS

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

July 25, 2022 – Vancouver, B.C. – Snowline Gold Corp. (CSE: SGD) (OTCQB: SNWGF) (the “Company” or “Snowline”) is pleased to announce that it has completed the first tranche of its previously announced non-brokered private placement, issuing 7 million flow-through common shares of the Company (the “FT Shares”) at a price of C$1.40 per FT Share and 10 million units of the Company (the “Units”) at a price of C$1.25 per Unit, for aggregate gross proceeds of C$22.3 million. Each Unit is comprised of one common share of the Company and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”), with each Warrant being exercisable for one common share of the Company at an exercise price of C$2.50 until July 22, 2024 (the “Offering”).

“With the close of this first tranche, Snowline is well funded to explore through the next two field seasons,” said Scott Berdahl, CEO and director of Snowline. “The funds also allow us to accelerate our exploration plan, effectively bringing drill holes we’d anticipated for 2023 into the current season, and from 2024 into 2023. We are grateful for the ongoing support of Crescat Capital and of other shareholders who made this transformative financing possible amidst challenging capital market conditions.”

Figure 1 – A visual breakdown of the Offering. The Unit component is a “hard dollar” (i.e. non-flow through) raise, and the Warrants are valid for two years. The FT Shares do not involve warrants, and they are supported by strong back-end Snowline investors who do not receive the flow-through benefits. *Note that the second tranche of the financing has not yet closed and is still on track for an anticipated close date of August 2, 2022.  

The gross proceeds from the issue and sale of the FT Shares will be used to support advancement of exploration on the Company’s Yukon Territory mineral properties, which will qualify as “Canadian Exploration Expenses” and “flow-through mining expenditures”, as those terms are defined in the Income Tax Act (Canada), which will be renounced to the initial purchasers of the FT Shares with an effective date no later than December 31, 2022. The gross proceeds from the issue and sale of Units will be used to support advancement of exploration on the Company’s Yukon Territory mineral properties and for general and working capital purposes.

All securities issued in connection with the first tranche of the Offering are subject to a hold period of four months and one day from the closing of the first tranche of the Offering, in accordance with applicable Canadian securities laws, expiring on November 23, 2022.

The second and final tranche of the Offering, comprising the issuance of 2,342,293 additional Units for additional gross proceeds of C$2,927,866.25, is expected to close on or around August 2, 2022.

No finder’s fees have been nor will be paid in connection with the Offering.

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.

STOCK OPTIONS

In addition, the Company announces that the Board of Directors of the Company has granted a total of 1,000,00 incentive stock options to various employees, consultants, and directors of the Company. The options are exercisable for one share each at $1.76 per share for a period of five years and are subject to the terms of the Company’s Stock Option Plan. Options are subject to vesting provisions of 20% every six months from the date of the grant. The options are intended to motivate and retain key technical talent integral to the company’s success.

ABOUT SNOWLINE GOLD CORP.

Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seven-project portfolio covering >127,000 ha. The Company is exploring its flagship >85,000 ha Rogue and Einarson gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’ Fort Knox mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. 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

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, timing for completing future exploration plans, timing for closing the second tranche of the Offering and the Company’s future plans, intentions and long-term success. 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 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 NON-BROKERED PRIVATE PLACEMENT FOR GROSS PROCEEDS OF C$25.23 MILLION

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

July 5, 2022 – Vancouver, B.C. – Snowline Gold Corp. (CSE: SGD) (OTCQB: SNWGF) (the “Company” or “Snowline”) is pleased to announce that it has arranged to issue, on a non-brokered private placement basis, (a) up to 7,000,000 flow-through common shares of the Company (the “FT Shares”) at a price of C$1.40 per FT Share for gross proceeds of up to C$9,800,000 and (b) up to 12,342,293 units of the Company (the “Units”) at a price of C$1.25 per Unit for gross proceeds of up to C$15,427,866.25. Each Unit is comprised of one common share of the Company and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”), with each Warrant being exercisable for one common share of the Company at an exercise price of C$2.50 for a period of two years (the “Offering”).

The gross proceeds from the issue and sale of the FT Shares will be used to support advancement of exploration on the Company’s Yukon Territory mineral properties, which will qualify as “Canadian Exploration Expenses” and “flow-through mining expenditures”, as those terms are defined in the Income Tax Act (Canada), which will be renounced to the initial purchasers of the FT Shares with an effective date no later than December 31, 2022. The gross proceeds from the issue and sale of Units will be used to support advancement of exploration on the Company’s Yukon Territory mineral properties and for general and working capital purposes.

It is expected that the closing of the Offering will occur in two tranches, the first tranche closing on or about July 22, 2022 and the second tranche closing on or about August 2, 2022 and closing is subject to the satisfaction of certain conditions, including receipt of acceptance of the Canadian Securities Exchange. All securities issued in connection with the Offering will be subject to a hold period of four months and one day from the date of closing, in accordance with applicable Canadian securities laws.

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 a seven-project portfolio covering >127,000 ha. The Company is exploring its flagship >85,000 ha Einarson and Rogue gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’ Fort Knox mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. 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

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 expected timing for closing the first and second tranches of the Offering 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 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 ENCOUNTERS WIDESPREAD MINERALIZATION IN 340 METRE STEP-OUT AT ITS VALLEY ZONE AND MOBILIZES SECOND DRILL

  • Moderate to intense sheeted quartz veins throughout 415 m drill hole at Valley (V-22-007), with 26 instances of trace visible gold noted from 19 m to 388 m depth
  • Hole represents 340 m step-out along strike of system from 2021 discovery drilling
  • Second drill now active at Valley; its first hole (V-22-008) encountered sheeted quartz mineralization 460 m away from nearest drill hole
  • Drilling ongoing, with assay results and full drill core evaluations pending.


Vancouver, B.C., June 30, 2022: SNOWLINE GOLD CORP. (CSE: SGD) (OTCQB: SNWGF) (the “Company” or “Snowline”) is pleased to announce that it has encountered 415 m of nearly continuous mineralization downhole from bedrock surface in V-22-007 at its Rogue Project’s Valley Zone in Canada’s Yukon Territory. Hole V-22-007 was a 340 m step-out along-strike to the southeast of 2021 drill hole V-21-003 (which intersected 168.65 m averaging 1.25 g/t Au from bedrock surface). A second drill rig mobilized to site and has completed drilling V-22-008, which intersected sheeted quartz veins 460 m from the nearest hole to date, further expanding the footprint of known mineralization at Valley.

Figure 1 – Location map of 2022 drill holes in relation to 2021 drilling and the Valley intrusion (red). The Company is using large step-outs to efficiency test the scale of the mineralized system. V-22-007 has the strongest and broadest zones of quartz mineralization observed on the project to date, and V-22-008 has demonstrated the presence of mineralized quartz veins along the northeastern margin of the intrusion.

Snowline Chair and Director Craig Hart comments that “I’ve seen a lot of rocks and a lot of drill core from many intrusion-related gold systems, but these Valley intersections have the most intense vein densities I’ve ever seen.  There are overprinting vein generations and varying vein orientations which is unusual and further indicates a very robust mineralizing system.  To see these vein densities over significant widths is very encouraging.  The numerous observations of visible gold and bismuthinite indicate that the system is mineralized, but of course the assay results are required before we get too excited.”  Dr. Hart is a globally recognized expert in intrusion-related gold systems.

Figure 2 – V-22-007 drill core from 133.5 m to 159.9 m downhole. Intense sheeted quartz veins and light quartz stockwork cut the Valley intrusion. Similar vein densities regularly occur throughout the first 395 m of the 415 m hole. Vein thicknesses range from 5 mm to >5 cm. Minor bismuthinite and trace visible gold are present in the sheeted veins. Assays for this hole and all others are pending.

HOLE V-22-007

Hole V-22-007 encountered steeply dipping sheeted quartz vein mineralization in diorite from bedrock surface at 4 m to its total depth of 415 m downhole (corresponding to roughly 340 m total vertical depth). The hole encountered the densest concentrations of sheeted quartz veins observed in the Valley Zone to date, in places exceeding 20 quartz veins per metre. Minor bismuthinite is commonly observed in veins. Small (<1 mm) grains of visible gold occur in and along bismuthinite-bearing quartz veins, with 26 instances noted in initial evaluation of the drill core across 369 m, from the first instance at 19 m downhole to the last at 388 m downhole. The final 20 m of the hole (from 395 m to 415 m) were less intensely mineralized, averaging around 5 veins per metre.

The presence of such a large and intense zone of mineralization in a significant step-out along trend highlights the scale potential of the Valley Zone. Assays for this and all holes drilled so far in 2022 remain pending.

UPDATE ON HOLE V-22-005

Hole V-22-005 was described to 233 m depth in a previous news release (June 13, 2022), based on the progress of drilling at the time. The hole continued to a total depth of 339 m. Some of the hole’s highest vein densities (up to 20 veins per metre) and its thickest quartz veins (up to 30 cm) were encountered below the 233 m mark in subsequent drilling, along with additional occurrences of trace visible gold.

Figure 3 – Schematic cross section showing relationship of V-22-005 and V-22-006 to previous drilling. The mineralized vein sets strike roughly perpendicular to this section (into and out of the page), and so these holes provide a test of the width of the system. Vein densities in V-22-006 were not as high as those in V-22-005, but mineralized veins were observed throughout the hole. The width of the system remains open. Note that visible gold from 2021 drilling is not shown on this figure nor on the map in Figure 1.
Figure 4 – V-22-005 drill core from 264.3 m to 277.4 m downhole. The most intense zones of quartz mineralization and thickest quartz veins (up to 30 cm true width) in this hole were encountered in drilling following the Company’s June 13 news release. Minor bismuthinite is common in veins, and additional instances of trace visible gold have been observed. Assays for the hole remain pending.

TWO DRILLS NOW ACTIVE

A second helicopter-portable drill has mobilized to the Valley Zone. The two drills are working in tandem to rapidly build out the scale of known mineralization at Valley while exploiting efficiencies of shared logistical support.

This second drill has completed drill hole V-22-008, which was collared outside the northern boundary of the intrusion. The hole intersected moderate to strongly hornfelsed sandstones and siltstones locally cut by quartz-arsenopyrite veins known on surface to host gold. From 190.7 m downhole to end of hole at 292 m, V-22-008 encountered sheeted quartz veins in diorite, typically 3-5 veins per metre. The location of this mineralization is over 460 m laterally from mineralization in hole V-22-006 and 500 m along section from the collar of V-22-007, significantly expanding the potential footprint of the mineralized system at Valley.

Assays for all four holes drilled so far in 2022 are pending, and drilling of additional holes at Valley is ongoing. While the Company finds these visual results to be encouraging, it cautions that the significance of the observations reported herein will not be known until assays are received and reviewed. Valley is an early-stage exploration project without a resource estimate, and the presence or absence of an economically viable orebody cannot be determined until significant additional work is completed.

Table 1 – Location and orientations of completed holes thus far in the Valley Zone in 2022. Assays results for all holes remain pending.

ABOUT ROGUE

The geological setting and style of mineralization at Rogue’s Valley Zone indicate the presence of a bulk tonnage gold target, with similarities to Kinross’s Fort Knox Mine in Alaska and Victoria Gold’s Eagle Mine in the Yukon. An 800 m Phase I drill program conducted at Valley in September 2021 encountered broad zones of gold mineralization in all four holes drilled (see Snowline news release dated February 10, 2022). Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays along the margins of a mid-Cretaceous aged Mayo-series intrusion.

Figure 5 – Location of V-22-007 in the context of the broader Valley-Gracie trend. Surface geochemistry and geophysics (Z-axis Tipper Electromagnetic Survey) data suggest the presence of a potentially similar reduced intrusion related gold system at Gracie. Snowline intends to drill 3,000 m or more at Valley in 2022, and to drill the first-ever holes into the Gracie target following further surface review and targeting.

Valley is one of at least five bulk-tonnage gold targets present on Snowline’s Rogue project. The Gracie target, roughly 4 km to the east, covers a 5.1 km x 0.8 km gold in soil and talus fine anomaly above an unexposed felsic intrusion (see Snowline news release dated April 7, 2022). Mineralization is thought to be similar to that at Valley. Following surface work to optimize drill targeting and assuming viable targets are identified, Phase I drilling will commence at Gracie in mid-season 2022.

Figure 6 – Project location map for Snowline Gold’s eastern Selwyn Basin properties. The Valley Zone on the Rogue project is the site of V-22-005 through V-22-008 and ongoing drilling.

ABOUT SNOWLINE GOLD CORP.

Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seven-project portfolio covering >127,000 ha. The Company is exploring its flagship >85,000 ha Einarson and Rogue gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’ Fort Knox mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. 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.

QUALIFIED PERSON

Information in this release has been prepared under supervision of and approved by Thomas K. Branson, M.Sc., P. Geo., Exploration Manager for Snowline and a 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

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including statements about the Company’s upcoming drill program, 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 PROVIDES EXPLORATION UPDATE ON ITS VALLEY DRILL PROGRAM, ROGUE PROJECT, YUKON

  • Sheeted quartz veins with trace amounts of visible gold present in hole V-22-005
  • Location of hole expands known width of Valley mineralized corridor by 150 metres
  • Drilling ongoing, with assay results and full drill core evaluation pending.

Vancouver, B.C., June 13, 2022: SNOWLINE GOLD CORP. (CSE: SGD) (OTCQB: SNWGF) (the “Company” or “Snowline”) is pleased to report that it has intersected mineralization from bedrock surface in its first hole of 2022, drilled at the Rogue project’s Valley Zone in Canada’s Yukon Territory. V-22-005 encountered thin (1-60 mm) sheeted quartz veins through to at least its present depth of 233 metres (as of Sunday, June 12, 2022; drilling ongoing at time of writing). Seven separate veins hosting trace visible gold were observed between 39 and 220 metres downhole during initial logging. The collar location is a 154-metre step-back from 2021 hole V-21-003 which also encountered a broad zone of mineralization from the bedrock surface.

Figure 1 – Closeup of V-22-005 drill core at 197 m downhole. Seven grains of visible gold (red circles) were identified along the margins of a single quartz vein here during initial evaluation of the drill core. Visible gold has also been identified in six other veins throughout the hole. Note that this figure highlights one feature of V-22-005 and is not meant to be representative of the entire hole. Assays for this and the rest of the hole remain pending. Core shown is 4.76 cm in diameter.

“Hole V-22-005 was designed to get a better sense of the width of the sheeted quartz vein arrays that constitute the Valley Zone,” said Scott Berdahl, CEO and Director of Snowline. “That we encountered mineralization at surface is encouraging, as this expands the known surface width of the Valley Zone by roughly 150 metres, and the width remains open. The true significance of the mineralization awaits assay results, but we are pleased to see this initial demonstration of scale. Subsequent holes will begin to test the strike length and depth of the mineralized system.”

Figure 2 – V-22-005 drill core from 200.9 to 227.5 m downhole. Sheeted quartz vein densities of between 10 and 20 veins per metre occur from 205 to 227 m downhole, within a coarse-grained biotite-hornblende diorite intrusion. Quartz vein densities are generally between 3 to 5 veins per metre throughout the length of the hole to its present depth of 233 m. Trace visible gold was identified in quartz at 211 m. Note that the image above is a composite from two photos, with a perspective warp applied to give a consistent top-down view. Assays for this zone are pending, and detailed logging of this section has yet to be completed.

Mineralization in V-22-005 comprises thin (average 3-5 mm) subparallel quartz veins with minor sulphide minerals cutting coarse-grained diorite of the Valley intrusion. Occasional thicker (up to 6 cm) quartz veins with minor sulphides have also been intersected. Small (sub millimeter) grains of visible gold were identified at around 39 m, 63 m, 88 m, 126 m, 197 m, 211 m and 220 m depth during initial evaluation of the drill core. Gold grains are associated with minor bismuthinite and/or telluride grains within the thin quartz veins. Vein densities average 3 to 5 per metre throughout the hole so far, with localized zones averaging up to 20 veins per metre.

Figure 3 – Schematic cross section showing relationship of V-22-005 to previous drilling. Instances of sub millimetre visible gold identified in initial evaluation of the drill core are denoted by yellow stars. Visible gold has now been observed in all 5 of 5 total holes drilled at Valley. Note that holes V-21-001 and V-21-002 are collared behind the section and are coming out of the page towards the viewer. The surface trace of the section is shown in Figure 4.

Assays for V-22-005 are pending, and drilling of the hole is ongoing at the time of writing. While the Company finds these visual results to be encouraging, it cautions that the significance of the observations reported herein will not be known until assays are received and reviewed. Valley is an early-stage exploration project without a resource estimate, and the presence or absence of an economically viable orebody cannot be determined until significant additional work is completed.

Table 1 – Location and orientation of V-22-005, currently underway at Valley. Project staff may change the planned depth depending on results and other factors.
Figure 4 – Location of V-22-005, Snowline’s first drill hole of the 2022 exploration season, currently underway at Valley. The hole is a 154 m step back from V-21-003, which intersected 1.25 g/t Au over 168.7 m from surface. The white line from the collar location indicates current progress of the drill hole, which will be extended past its 300 m target depth if mineralization continues. A thin dark blue line denotes the section location portrayed in Figure 3.

ABOUT ROGUE

The geological setting and style of mineralization at Rogue’s Valley Zone demonstrate the presence of a bulk tonnage gold target, with similarities to Kinross’s Fort Knox Mine in Alaska and Victoria Gold’s Eagle Mine in the Yukon. An 800 m Phase I drill program conducted at Valley in September 2021 encountered broad zones of gold mineralization in all four holes drilled (e.g. see Snowline news release dated February 10, 2022). Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays along the margins of a mid-Cretaceous aged Mayo-series intrusion.

Valley is one of at least five bulk-tonnage gold targets present on Snowline’s Rogue project. The Gracie target, roughly 4 km to the east, covers a 5.1 km gold in soil and talus fine anomaly above an unexposed felsic intrusion (see Snowline news release dated April 7, 2022). Mineralization is thought to be similar to that at Valley. Following surface work to optimize drill targeting and assuming viable targets are identified, Phase I drilling will commence at Gracie in mid-season 2022.

Figure 5 – Location of V-22-005 in the context of the broader Valley-Gracie trend. Surface geochemistry and geophysics (Z-axis Tipper Electromagnetic Survey) data suggest the presence of a potentially similar reduced intrusion related gold system at Gracie. Snowline intends to drill 3,000 m or more at Valley in 2022, and to drill the first-ever holes into the Gracie target following further surface review and targeting.

ABOUT SNOWLINE GOLD CORP.

Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seven-project portfolio covering >127,000 ha. The Company is exploring its flagship >85,000 ha Einarson and Rogue gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’ Fort Knox mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. 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 6 – Project location map for Snowline Gold’s eastern Selwyn Basin properties. The Valley Zone on the Rogue project is the site of V-22-005, which is actively being drilled.

QUALIFIED PERSON

Information in this release has been prepared under supervision of and approved by Thomas K. Branson, M.Sc., P. Geo., Exploration Manager for Snowline and a 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

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including statements about the Company’s upcoming drill program, 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 COMMENCES 8,000 METRE DRILL PROGRAM ON ITS FLAGSHIP YUKON PROJECTS

  • Phase II drilling underway at Valley, a bulk tonnage gold discovery made in late 2021
  • Upwards of 8,000 metres drilling planned across at least four targets in 2022
  • Potential for significant new drill discoveries along with expansion of Snowline’s Valley and Jupiter zones

Vancouver, B.C., June 8, 2022: SNOWLINE GOLD CORP. (CSE: SGD) (US OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce that it has commenced its 2022 exploration and drilling program. Drill crews and geological staff recently mobilized to the Company’s new Forks Camp, built to support its Rogue, Einarson, Ursa and Cynthia projects. Phase II diamond drilling is underway at Rogue’s Valley zone to test the extent of gold mineralization encountered by drilling in September 2021 within a soil and talus fine anomaly spanning roughly two kilometers.

Figure 1 – Location of V-22-005, Snowline’s first drill hole of the 2022 exploration season, currently underway at Valley. The hole is a 150m step back from V-21-003, which intersected 1.25 g/t Au over 168.7 m from surface. The step back will provide a better measure of the width of the mineralization and constrain the broader orientation of the zone, in addition to testing the mineralization encountered in V-21-003 at depth.

“Following an exceptional first season with two drill discoveries on our adjacent Rogue and Einarson projects, we are very excited to return to the field,” said Scott Berdahl, CEO and Director of Snowline. “Our team has already done a tremendous job setting up for an early season start amidst our new camp build and a record-breaking spring snowpack. Snowline’s 2022 drill program gives our shareholders much to look forward to as we simultaneously build on recent successes and position ourselves to make additional discoveries. Our results will shed new light on our large and relatively unexplored land package, which we believe has the potential to become a new North American gold district.”

The geological setting and style of mineralization at Valley demonstrate the presence of a bulk tonnage gold target, with similarities to Kinross’s Fort Knox Mine in Alaska and Victoria Gold’s Eagle Mine in the Yukon. An 800 m Phase I drill program conducted at Valley in September 2021 encountered broad zones of gold mineralization in all four holes (e.g. see Snowline news release dated February 10, 2022). Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays along margins of a mid-Cretaceous aged Mayo-series intrusion.

2022 DRILL CAMPAIGN

Snowline’s 2022 drill program budgets for at least 8,000 m total drilling across four or more zones.

At Rogue, some 3,000 m are planned for drilling on and around the Valley intrusion, which includes the Valley and Ridge zones. Expected hole depths range between 200 m and 300 m, with one or more deeper holes planned to determine continuity and intensity of mineralization at depth. The drill program will test the scale of the Valley gold system, with a systematic series of step-outs set to better define the width, breadth and depth of mineralization responsible for the geochemical anomalies on surface.

At Einarson, some 3,000 m are budgeted for the Jupiter zone, a high-grade epizonal orogenic gold prospect discovered by drilling in 2021 (e.g. see Snowline news release dated October 13, 2021). Precise drill targeting will await the results of early-season surface work. The program will further test the scale of the Jupiter gold system with broad step-outs, while more concentrated drilling near last season’s drill discoveries will better define geometries and controls on mineralization while providing a more rigorous testing of known high-grade zones.

The balance of 2,000 m or more is budgeted for first-ever drill testing of additional targets. At Rogue’s Gracie zone, a 5.1 km gold in soil and talus fine anomaly above a buried felsic intrusion represents a high-priority bulk tonnage drill target (see Snowline news release dated April 7, 2022). Mineralization is thought to be related to that at Valley. Following surface work to optimize drill targeting and assuming viable targets are identified, Phase I drilling will commence at Gracie.

 Other candidate zones for Phase I drilling in summer 2022 include:

  • Avalanche Creek (Einarson): A one-kilometer-long mineralized quartz carbonate boulder train similar in character to Jupiter, some 12 km away. Grab samples of Avalanche Creek float material assay from 0.3 g/t Au to 34.2 g/t Au, and a likely source structure for the mineralization has been identified.
  • Mars (Einarson): A four-kilometer-long gold in soil and talus fine anomaly in historical data with values of up to 8.97 g/t Au in talus fines. Rock samples from the trend range from below detection to 9.27 g/t Au, including a historical hand trench that returned 7.1 g/t Au over 5.0 m. Limited historical drilling tested the far south end of the trend, near the hand trench location, with reported intercepts of up to 0.57 g/t Au over 21.2 m (true width unknown). The majority of the Mars anomaly, including its strongest soil geochemistry, has not been drill tested.
  • Ursa: A fourteen-kilometer-long trend of anomalous zinc in stream sediments with values consistently over 0.1% Zn and up to 3.4% Zn. An aerial VTEM survey conducted by Snowline in 2021 revealed several large conductors that may be lithological or that may be indicators of mineralization.

The proportion and total amount of drilling planned for each zone are rough working guides and may change based on drill results and other observations or factors throughout the season.

Figure 2 – Project location map for Snowline Gold’s eastern Selwyn Basin properties. Key zones described in this release are labeled with blue text.

QUALIFIED PERSON

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

ABOUT SNOWLINE GOLD CORP.

Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seven-project portfolio covering >127,000 ha. The Company is exploring its flagship >85,000 ha Einarson and Rogue gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’ Fort Knox mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. Snowline’s first-mover land position provides a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

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

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including statements about the Company’s upcoming drill program 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.