Category: Uncategorized

• Hole V-24-081 returned 2.10 g/t Au over 433.5 m, including 3.42 g/t Au over 96.5 m and 3.20 g/t Au over 50.5 m, bolstering scale of high-grade, near-surface gold mineralization at Snowline’s Valley deposit, Rogue Project
• Hole V-24-084 returned 1.31 g/t Au over 273.2 m, including 2.18 g/t Au over 120.7 m from surface, surpassing mineral resource estimate block model expectations near the southeastern part of the Valley deposit
• Phase I reclamation work completed by Snowline at historical “Plata” staging area, southwest of the Rogue Project, which supported 1980s mining activity in the area from the Plata winter trail
• Assays remain pending for >24,600 m in 45 holes across 6 targets at Snowline’s Rogue and Einarson projects.

Vancouver, B.C., October 10, 2024: SNOWLINE GOLD CORP (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce additional analytical results from its 2024 Valley deposit drilling campaign on the Rogue Project in Canada’s Yukon Territory alongside updates on its regional activities. Holes V-24-081 and V-24-084 returned strong, consistent gold grades from near surface along the southwestern edge of the Valley deposit, outperforming the model used for the Company’s initial mineral resource estimate (MRE) earlier this year. In addition, Snowline has completed the first phase of a reclamation program at the Plata mining camp near the Rogue Project, organizing and inventorying debris and abandoned equipment from historical mining activities in the region for future demobilisation. The Company awaits analytical results from the majority of its 2024 exploration campaign, including >24,600 m of drilling in 44 holes across 5 different targets.

Table 1 – Highlight summary of Snowline’s latest assay results; see Table 2 for details. *Interval widths reported; true widths of the system at Valley are not yet known.

“It is a testament to the consistency of mineralization at Valley that results like today’s have become almost commonplace,” said Scott Berdahl, CEO & Director of Snowline. “Nonetheless, they further demonstrate the strength of the system near surface, and key holes V-24-081 and V-24-084 outperform our model along the southwest margin of the deposit.

“We are also pleased to report completion of the first stage of a meaningful side project – the cleanup of the historical Plata staging area, which supported small-scale mining efforts in the region in the early 1980s. We would like to thank Honey Badger Silver Inc. and Archer, Cathro & Associates for their assistance in these efforts. This work builds on Snowline’s commitment to contribute to a lasting positive legacy for mining in the Yukon.”

VALLEY DRILLING, ROGUE PROJECT

Roughly 25,000 m have been drilled at Valley in 55 holes in 2024 (Figure 1) – nearly double the amount of drilling (27,911 m) used to inform the Company’s initial MRE for Valley. Trace instances of visible gold and widespread sheeted quartz vein arrays have been observed both within and beyond the confines of the MRE. The Company awaits full assay results from the 2024 drill campaign to assess the significance of these observations and their impact on the deposit.

Figure 1 – Plan map of drill results and progress on the Rogue Project’s Valley deposit, highlighting current results in drill holes V-24-081 through V-24-087. Past analytical results are faded, while instances of visible gold in holes awaiting assay are marked by yellow spheres. Drill holes with assays pending are labelled in blue.

Hole V-24-081

Hole V-24-081 is collared within the Valley intrusion, roughly 42 m east of V-23-053 and 73 m northwest of V-23-051. The hole is drilled to the northeast, as opposed to the more common southwest orientation at Valley, to more effectively test local near-surface mineralization and to get information from gaps in drilling at depth.

The hole runs through coarse-grained granodiorite for most of its length, with a zone of fine-grained porphyritic granodiorite from roughly 336 m to 446 m downhole containing xenoliths of granodiorite, hornfels and chert. A total of 121 instances of visible gold were noted along the length of the hole during logging.

Figure 2 – Cross-section A-A’, showing V-24-081 in the context of the initial Valley MRE block model and MRE-constraining revenue factor 0.72 pit shell. The block model has not been updated to reflect the current results, nor any results to date from 2024, and blocks shown outside of the current pit shell constraint are not included in the initial MRE for Valley. Instances of visible gold in holes still awaiting assay results are marked by yellow spheres. The released holes are projected onto the same plane from a total width of roughly 50 m—relative positions can be seen in the plan map in Figure 1.

The results of this hole are expected to help upgrade and de-risk relevant areas of the initial mineral resource estimate for Valley. Notably, the hole redefines the local, near-surface southwest boundary of the intrusion, as the previous geological model (used to inform the initial MRE at Valley) suggested V-24-081 would have collared into hornfels. The ultimate effect of this result will be quantified along with analytical results of all subsequent holes in an updated mineral resource estimate at a later time.

Table 2 – Summary of significant mineralization returned from current holes on the Rogue Project. The consistency of strong mineralization in the deposit is reinforced by the capped values in the rightmost column, wherein any assay result >10 g/t Au is replaced by 10.0 g/t Au to calculate the average interval grades. *Interval widths reported; true widths of the system are not yet known, with different vein generations, orientations, and grade distributions present within various intervals through the bulk tonnage gold target at Valley.

PLATA SITE CLEANUP

In September, Snowline completed the first phase of a site cleanup program at the historical Plata staging area. Work consisted of documenting, inventorying, stockpiling and limited removal of abandoned equipment and materials from historical exploration and mining activity related to mining in the area primarily in the 1980s, which included small scale underground silver mining. Stockpiled materials have been consolidated and prepared for future removal from site.

The Plata staging area is located along an airstrip at the north end of the Plata winter trail (Figure 4) roughly 8 km west of Snowline’s Rogue Project. The site is strategically located, and Snowline has used the staging area in the past to support its own operations.

Figure 3 – Reclamation of historical Plata staging area for mining, exploration and other activities in the vicinity of Snowline’s Rogue Project. Top: Debris prior to cleanup – remains of a burned-out trapper’s cabin at the site. Middle: Same location following cleanup. Bottom: Abandoned vehicles, mining equipment and other non-combustible debris brought in along the Plata winter trail are inventoried and organized for removal during a planned second phase of the cleanup.

QA/QC

On receipt from the drill site NQ2-sized drill core was systematically logged for geological attributes, photographed and sampled at Snowline’s “Forks” Camp. Sample lengths as small as 0.5 m were used to isolate features of interest, but most samples within moderate to strong mineralization were 1.0 m in length; 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, dictated by orientation line where present or by dominant vein orientation where absent) collected for analysis and one half stored as a record. Field duplicates were collected at regular intervals as ¼ core samples by splitting the ½ core sent for sampling, leaving a consistent record of half core material from duplicate and non-duplicate samples alike. Standard reference materials and blanks 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 to Bureau Veritas’ preparatory facility in Whitehorse, Yukon. Sample preparation was completed in Whitehorse, with analyses completed in Vancouver.

Bureau Veritas is accredited to ISO/IEC 17025 and ISO9001 for quality management. Samples were crushed by BV to >85% 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 59-element analysis on 0.25 g sample pulps (BV code: MA250). All samples were analysed for gold content by fire assay with an atomic absorption spectroscopy (AAS) finish on 30 g samples (BV code: FA430). Any sample returning >10 g/t Au was reanalysed by fire assay with a gravimetric finish on a 30 g sample (BV code: FA530).

For the purposes of this release, contiguous mineralized intervals at Valley are defined as runs of mineralization with no break >5.0 m assaying <0.1 g/t Au and may include any highlight subsections thereof.

ABOUT ROGUE

Snowline Gold’s 100%-owned, flagship Rogue Project, in Canada’s Yukon Territory, covers a 60 x 30 km cluster of intrusions in the eastern Tombstone Gold Belt known as the Rogue Plutonic Complex.

Since its launch in 2021, Snowline has progressed the Rogue Project’s Valley target from a greenfield prospecting discovery to a significant bulk tonnage gold resource, with 4.05 Moz gold indicated mineral resource at 1.66 g/t Au and an additional 3.26 Moz inferred mineral resource at 1.25 g/t Au within a pit-shell constraint. The resource estimate numbers are supported by the recent technical report for Rogue, prepared in accordance with NI 43-101 standards, entitled “Rogue Gold Project: NI 43-101 Technical Report and Mineral Resource Estimate,” authored by Heather Burrell, P. Geo., Daniel J. Redmond, P. Geo., and Steven C. Haggarty, P. Eng., with an effective date of May 15, 2024.

Exploration of the open Valley system is ongoing. Valley is a reduced intrusion-related gold system (RIRGS), geologically similar to multi-million-ounce RIRGS deposits currently in production, like Kinross’s Fort Knox Mine in Alaska, but with substantially higher gold grades. Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays within and along the margins of a one-kilometer-scale, mid-Cretaceous aged Mayo-series intrusion.

The Rogue Project area hosts multiple intrusions similar to Valley along with widespread gold anomalism in stream sediment, soil and rock samples. Elsewhere, RIRGS deposits are known to occur in clusters. For these reasons, Snowline considers the Rogue Project to have district-scale potential to host additional reduced intrusion-related gold systems.

ABOUT SNOWLINE GOLD CORP.

Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering roughly 360,000 ha (3,600 km²). The Company is exploring its flagship 111,000 ha (1,110 km²) Rogue gold project in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits. The Company’s first-mover position and extensive exploration database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

Figure 4 – Project location map for Snowline Gold’s eastern Selwyn Basin properties: Rogue, Einarson, Ursa, Cynthia and Olympus. The Valley target is one of several prospective reduced intrusion-related gold targets on the broader 30 x 60 km Rogue Project. The Plata staging area is located at the northern end of the Plata winter trail, which connects to the government maintained North Canol Road.

QUALIFIED PERSON

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

ON BEHALF OF THE BOARD

Scott Berdahl
CEO & Director

For further information, please contact:

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

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including statements regarding the significance of analytical results, the significance of visual drill core observations and visible gold, the potential effects of current analytical results on future mineral resource estimates including expansion of the pit shell and de-risking of the current estimate, the discovery potential within the Valley intrusion and on other exploration targets, the potential for investors to participate in multiple future discoveries, the Rogue project having district-scale prospectivity, the creation of a new gold district and the Company’s future plans and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

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

• Hole V-24-078 returned 4.05 g/t Au over 244.9 m from surface, including 5.99 g/t Au over 101.0 m, emphasizing strong continuity of high-grade, near-surface gold mineralization at Snowline’s Valley deposit, Rogue Project
• “Charlotte” target is a newly discovered reduced intrusion-related gold system on the Rogue Project in and around an elongate 1.6 x 0.3 km intrusion, with selective grab samples up to 28.4 g/t Au
• “Galatea” target hosts a 1.3 km quartz-carbonate boulder train found along 12 km structural corridor between Jupiter and Avalanche Creek, Einarson Project, with grab samples to 6.11 g/t Au
• Assays pending for >22,500 m across 7 targets, with drilling ongoing.

Vancouver, B.C., September 10, 2024: SNOWLINE GOLD CORP (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce additional analytical results from its 2024 Valley deposit drilling campaign on the Rogue Project in Canada’s Yukon Territory alongside updates on its regional exploration campaign. Hole V-24-078 returned some of the highest sustained grades seen at the deposit to date (Table 1). Additional holes from Valley carry long intervals from surface in the southeastern part of the Valley deposit. Outside of Valley, Snowline’s regional exploration team has discovered two promising new grassroots gold targets, Charlotte and Galatea, on the Rogue and Einarson Projects respectively. Drilling is ongoing at Valley and on the Jupiter target, Einarson Project, with assays pending for an additional 22,500 m drilled to date.

Table 1 –Highlight summary of Snowline’s latest assay results; see Table 2 for details. *Interval widths reported; true widths of the system at Valley are not yet known.

“The breadth, consistency and grade of near-surface gold mineralization at Valley continue to impress us,” said Scott Berdahl, CEO & Director of Snowline. “V-24-078 has set another very high bar, carrying an average grade of over 4 grams per tonne gold over 244.9 metres from surface, with a sustained run of 101.0 m averaging 6.0 g/t Au, while holes from the southeast and northwest parts of the deposit show good near-surface continuity and grades.

“In addition, our regional exploration team continues to turn up exciting new prospects on our underexplored, >3,600 km² tenure, including a new reduced-intrusion related gold system. That we are still finding potentially significant new mineralized systems on surface in our fourth exploration season in this area is a testament to the scale and the fertility of the district.”

VALLEY DRILLING, ROGUE PROJECT

Drilling at the Rogue Project’s Valley deposit is ongoing, with four drills now active on the deposit. To date, roughly 20,400 m have been drilled at Valley in 46 holes in 2024 (Figure 1). Trace instances of visible gold and widespread sheeted quartz vein arrays have been observed both within and beyond the confines of the current, initial MRE for Valley. The Company awaits full assay results from the ongoing drill campaign to assess the significance of these observations and their impact on the MRE.

Figure 1 – Plan map of drill results and progress on the Rogue Project’s Valley deposit, highlighting current results in drill holes V-24-078 through V-24-080. Past analytical results are faded, while instances of visible gold in holes awaiting assay are marked by yellow spheres. Drill holes with assays pending are labelled in blue.

Hole V-24-078

Hole V-24-078 is collared within the Valley intrusion, from the pad site of V-24-076 (212.4 m @ 1.11 g/t Au, including 66.9 m @ 2.02 g/t Au from surface, see Snowline news release dated August 29, 2024) but drilled in the opposite direction to test a void in drill data within the Valley deposit (Figure 1). The nearest previous holes are V-23-048 (265.2 m @ 2.20 g/t Au, including 100.2 m @ 3.28 g/t Au from surface, see Snowline news release dated September 11, 2023), collared roughly 50 m to the north-northeast, and V-22-014 (285.2 m @ 1.45 g/t Au, including 128.2 m @ 2.48 g/t Au from surface, see Snowline news release dated November 15, 2022), collared roughly 65 m to the east-southeast, with both previous holes drilled to the southwest and ending outside of the intrusion.

V-24-078 runs predominantly in the main, coarse-grained granodioritic phase of the Valley intrusion throughout its length. Quart vein densities are consistently moderate to high for the top of the hole, dropping off to low (<4 v/m) for the remainder of the hole after a series of faults at approximately 230 m downhole.

Figure 2 – Cross-section A-A’, showing V-24-078 in the context of the initial Valley MRE block model and MRE-constraining revenue factor 0.72 pit shell. The block model has not been updated to reflect the current results, nor any results to date from 2024 (recent results from V-24-076 and 077 highlighted for context), and blocks shown outside of the current pit shell constraint are not included in the initial MRE for Valley. Instances of visible gold in holes still awaiting assay results are marked by yellow spheres. The released holes are projected onto the same plane from a total width of roughly 100 m—relative positions can be seen in the plan map in Figure 1.

The hole begins with a strong intersection of gold mineralization, averaging 4.05 g/t over the top 244.9 m from bedrock surface at 8.2 m downhole. Grades increase somewhat from 80.5 m downhole, averaging 5.99 g/t Au over the next 101.0 m, marking highest gold grade over a >100 m interval seen at Valley to date (including when assays are capped at 10.0 g/t Au, for a capped interval grade of 5.49 g/t Au—see Table 2). Below this highlight section, three separate but proximal intervals carry grades averaging between 0.28 and 0.39 g/t Au to the end of the hole at 407.0 m.

The results of this hole are expected to help upgrade and de-risk relevant areas of the initial mineral resource estimate for Valley. The ultimate effect of this result will be quantified along with analytical results of all subsequent holes in an updated mineral resource estimate at a later time.

Table 2 – Summary of significant mineralization returned from current holes on the Rogue Project. The consistency of strong mineralization in the deposit is reinforced by the capped values in the rightmost column, wherein any assay result >10 g/t Au is replaced by 10.0 g/t Au to calculate the average interval grades. Holes with a “CU” prefix are from the Cujo target, roughly 30 km west of Valley (Figure 6) *Interval widths reported; true widths of the system are not yet known, with different vein generations, orientations, and grade distributions present within various intervals through the bulk tonnage gold target at Valley.

Figure 3 – Instances of relatively coarse visible gold in quartz veins intersected in V-24-078 at 59.5 m and 219.7 m downhole. With visible gold noted in 269 separate quartz veins along the hole (first instance at 5.5 m downhole, last instance at 405.1 m downhole), V-24-078 has more instances of visible gold than any other hole drilled to date at Valley. Gold is present in at least three distinct quartz vein generations in the hole.

EXPLORATION UPDATES

Snowline currently has one drill rig active on the Jupiter target, and regional field teams advancing multiple additional targets. More than 8,900 m have been completed in regional drilling to date across 6 targets outside of Valley. Assays are still pending for roughly 7,000 m from these regional targets, namely: Aurelius (5 holes) and Reid (1 hole) on the Rogue Project, Sydney (3 holes) on the Cynthia Project, and Jupiter (8 holes) and Avalanche Creek (2 holes) on the Einarson Project.

Charlotte Target, Rogue Project

“Charlotte” is a newly discovered reduced intrusion-related gold system (RIRGS) on the Rogue Project, roughly 15 km southeast of Valley. The target covers a multiphase, elongate granodiorite pluton exposed across roughly 1.6 km x 300 m, roughly corresponding to a kilometre-scale resistive feature identified by aerial electromagnetic surveying (Figure 4), similar in scale and nature to the geophysical anomaly previously identified at Valley.

Figure 4 – Selective grab samples from the Charlotte target, along with the main intrusive body and an adjacent dike shown in yellow. Background colours show the results of an aerial electromagnetic survey, with cooler colours denoting zones of higher resistivity commonly associated with units of the Rogue Plutonic Complex, including the Valley intrusion.

Multiple generations of quartz veins, including sheeted quartz-arsenopyrite veins, are present within and proximal to the intrusion at Charlotte. Of 95 rock grab samples collected from the target area, 25 returned > 1 g/t Au, averaging 4.49 g/t Au up to a maximum of 28.4 g/t Au. Such samples are selective in nature, but they nonetheless demonstrate gold fertility of this RIRGS across a large area. A program of soil and talus fine samples in contour soil lines has been completed in the target area, which will assist in future targeting. Analysitcal results for these samples are still pending.

Galatea Target, Einarson Project

“Galatea” is a new epizonal orogenic target on Snowline’s 100% owned Einarson Project, located along the N-S structural corridor between the Jupiter target (roughly 7 km north) and Avalanche Creek (roughly 5 km south). At Galatea, a 1.3 km long float train of quartz carbonate vein material was observed along a stream drainage (Figure 5). Of 12 rock grab samples taken, 6 returned >1 g/t Au, averaging 3.34 g/t Au with a maximum of 6.11 g/t Au. A follow-up soil sampling program consisting of seven contour lines totalling 8 km will be completed to further delineate the mineralization. This new target demonstrates the fertility of this >12 km structural corridor and the prospectivity of adjacent, parallel structures in the area.

Figure 5 – The Galatea float train in the context of surrounding geology, with rock samples shown as golden triangles. Certain rock samples peripheral to the mineralized float train were sampled by previous property operators in 2012 in search of Carlin-style mineralization. Inset photos show mineralization texture (middle, 4.31 g/t Au), with arsenopyrite and pyrite hosted in bulky quartz with ankerite, and float train appearance (bottom right, 6.11 g/t Au), with large boulders of vein material present, consistent with the surface discoveries at Jupiter and Avalanche Creek, both of which lie along the same >12 km structural corridor.

QA/QC

On receipt from the drill site NQ2-sized drill core was systematically logged for geological attributes, photographed and sampled at Snowline’s “Forks” Camp. Sample lengths as small as 0.5 m were used to isolate features of interest, but most samples within moderate to strong mineralization were 1.0 m in length; 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, dictated by orientation line where present or by dominant vein orientation where absent) collected for analysis and one half stored as a record. Field duplicates were collected at regular intervals as ¼ core samples by splitting the ½ core sent for sampling, leaving a consistent record of half core material from duplicate and non-duplicate samples alike. Standard reference materials and blanks 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 to Bureau Veritas’ preparatory facility in Whitehorse, Yukon. Sample preparation was completed in Whitehorse, with analyses completed in Vancouver.

Bureau Veritas is accredited to ISO/IEC 17025 and ISO9001 for quality management. Samples were crushed by BV to >85% 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 59-element analysis on 0.25 g sample pulps (BV code: MA250). All samples were analysed for gold content by fire assay with an atomic absorption spectroscopy (AAS) finish on 30 g samples (BV code: FA430). Any sample returning >10 g/t Au was reanalysed by fire assay with a gravimetric finish on a 30 g sample (BV code: FA530).

For the purposes of this release, contiguous mineralized intervals at Valley are defined as runs of mineralization with no break >5.0 m assaying <0.1 g/t Au and may include any highlight subsections thereof.

ABOUT ROGUE

Snowline Gold’s 100%-owned, flagship Rogue Project, in Canada’s Yukon Territory, covers a 60 x 30 km cluster of intrusions in the eastern Tombstone Gold Belt known as the Rogue Plutonic Complex.

Since its launch in 2021, Snowline has progressed the Rogue Project’s Valley target from a greenfield prospecting discovery to a significant bulk tonnage gold resource, with 4.05 Moz gold indicated mineral resource at 1.66 g/t Au and an additional 3.26 Moz inferred mineral resource at 1.25 g/t Au within a pit-shell constraint. The resource estimate numbers are supported by the recent technical report for Rogue, prepared in accordance with NI 43-101 standards, entitled “Rogue Gold Project: NI 43-101 Technical Report and Mineral Resource Estimate,” authored by Heather Burrell, P. Geo., Daniel J. Redmond, P. Geo., and Steven C. Haggarty, P. Eng., with an effective date of May 15, 2024.

Exploration of the open Valley system is ongoing. Valley is a reduced intrusion-related gold system (RIRGS), geologically similar to multi-million-ounce RIRGS deposits currently in production, like Kinross’s Fort Knox Mine in Alaska, but with substantially higher gold grades. Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays within and along the margins of a one-kilometer-scale, mid-Cretaceous aged Mayo-series intrusion.

The Rogue Project area hosts multiple intrusions similar to Valley along with widespread gold anomalism in stream sediment, soil and rock samples. Elsewhere, RIRGS deposits are known to occur in clusters. For these reasons, Snowline considers the Rogue Project to have district-scale potential to host additional reduced intrusion-related gold systems.

ABOUT SNOWLINE GOLD CORP.

Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering roughly 360,000 ha (3,600 km²). The Company is exploring its flagship 111,000 ha (1,110 km²) Rogue gold project in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits. The Company’s first-mover position and extensive exploration database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

Figure 6 – Project location map for Snowline Gold’s eastern Selwyn Basin properties: Rogue, Einarson, Ursa, Cynthia and Olympus. The Valley target is one of several prospective reduced intrusion-related gold targets on the broader 30 x 60 km Rogue Project.

QUALIFIED PERSON

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

ON BEHALF OF THE BOARD

Scott Berdahl
CEO & Director

For further information, please contact:

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

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including statements regarding the significance of analytical results, the significance of visual drill core observations and visible gold, the potential effects of current analytical results on future mineral resource estimates including expansion of the pit shell and de-risking of the current estimate, the discovery potential within the Valley intrusion and on other exploration targets, the potential for investors to participate in multiple future discoveries, the Rogue project having district-scale prospectivity, the creation of a new gold district and the Company’s future plans and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

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

• Hole V-24-077, along the northeast boundary of Valley’s current mineral resource estimate, averaged 1.61 g/t Au over 435.0 m, including 2.39 g/t Au over 150.5 m
• On Snowline’s Jupiter target, Einarson Project, Hole J-24-022 returned 6.88 g/t Au over 6.3 m, including 13.9 g/t Au over 2.0 m downhole, along with other mineralized intersections in 170 m step-back from previous drilling
• Trace amounts of visible gold seen in regional drilling at Aurelius target, Rogue Project and Sydney target, Cynthia Project
• Assays pending for >21,000 m across 7 targets, with drilling ongoing.

 Vancouver, B.C., August 29, 2024: SNOWLINE GOLD CORP (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce additional analytical results from its 2024 Valley deposit drilling campaign on the Rogue Project in Canada’s Yukon Territory, along with the first drill results from its Jupiter target, Einarson Project, since consolidation of 100% ownership of Einarson earlier this year. Highlight intervals from Valley and Jupiter are summarized in Table 1 below. The results from V-24-077 at Valley are near the northeastern edge of the current resource-limiting pit shell constraint for the initial mineral resource estimate (MRE) at Valley, confirming continuity of strong gold grades to the edge of the current resource, open to further expansion. At the Einarson Project’s epizonal orogenic Jupiter target, roughly 32 km north of Valley, multiple zones of gold mineralization were encountered in a 170 m step-back from previous drilling, increasing the known width of the system. Drilling is ongoing at Valley and on other targets, with assays pending for an additional 21,278 m drilled to date.

“We are pleased to advance our flagship district on multiple fronts,” said Scott Berdahl, CEO & Director of Snowline. “At Valley, drilling continues to de-risk and potentially grow our initial mineral resource estimate with holes expanding the footprint of near surface, >1 g/t Au gold mineralization. At Jupiter, our step-outs are hitting encouraging zones of gold mineralization within large areas of alteration and pathfinder minerals. Elsewhere, our regional exploration and drilling is ongoing, with drill results still pending from six regional targets outside of Valley this year.”

VALLEY DRILLING, ROGUE PROJECT

Drilling at the Rogue Project’s Valley deposit is ongoing, with three drills currently active on the deposit. To date, roughly 17,400 m have been drilled at Valley in 37 holes in 2024 (Figure 1). Trace instances of visible gold and widespread sheeted quartz vein arrays have been observed both within and beyond the confines of the current, initial MRE for Valley. The Company awaits full assay results from the ongoing drill campaign to assess the significance of these observations and their impact on the MRE.

Figure 1 – Plan map of drill results and progress on the Rogue Project’s Valley deposit, highlighting current results in drill holes V-24-076 and V-24-077. Past analytical results are faded, while instances of visible gold in holes awaiting assay are marked by yellow spheres.

Hole V-24-077

Hole V-24-077 is collared within the Valley intrusion, as a 140 m step back along section from V-23-034 (418.3 m @ 1.88 g/t Au from surface including 216.0 m @ 3.08 g/t Au, see Snowline news release dated July 5, 2023) (Figures 1 & 2). The nearest holes are V-23-045 (517.9 m @ 1.14 g/t Au from surface including 125.5 m @ 1.75 g/t Au, see Snowline news release dated September 11, 2023) at 84 m to the west and V-22-015 (442.0 m @ 0.65 g/t Au including 170.0 m @ 1.18 g/t Au, see Snowline news release dated December 22, 2022) at 72 m to the south.

V-24-077 tests material along the edge of the block model used for the initial Valley MRE and along the edge of the current revenue factor 0.72 pit shell used to constrain that MRE. The hole remains primarily in coarse-grained granodiorite, the dominant phase of the intrusion, until roughly 400 m downhole, at which point it transitions into a fine-grained porphyritic phase of the intrusion with zones of igneous breccia.

Figure 2 – Cross-section A-A’, showing V-24-076 and 077 in the context of the initial Valley MRE block model and MRE-constraining revenue factor 0.72 pit shell. The block model has not been updated to reflect the current results, and blocks shown outside of the current pit shell constraint are not included in the initial MRE for Valley. Instances of visible gold in holes awaiting assay results are marked by yellow spheres. The released holes are projected onto the same plane from a total width of roughly 100 m—relative positions can be seen in the plan map in Figure 1. Hole V-24-077 is collared as a 140 m step-back from V-23-034, to assess strength and continuity at the edge of the current model and to potentially expand it.

The hole begins with two intersections of lower grade mineralization (54.0 m averaging 0.37 g/t Au from bedrock surface at 6.0 m downhole and 37.5 m averaging 0.46 g/t Au from 76.5 m downhole) before hitting a sustained run of 435.0 m averaging 1.61 g/t Au from 120 m downhole until the end of the hole at 555.0 m, including a higher-grade interval of 2.39 g/t Au over 150.5 m beginning at 206.5 m downhole. Zones of higher grades include 7.62 g/t Au over 20.0 m (including 35.7 g/t Au over 1.5 m) from 239.0 m downhole (Table 2).

The results are expected to expand the limit of the current block model and to expand the extent of above cut-off (>0.4 g/t Au) and higher-grade domains. The ultimate effect of this result will be quantified along with analytical results of all subsequent holes in an updated mineral resource estimate at a later time.

Table 2 – Summary of significant mineralization returned from current holes at Valley. The consistency of strong mineralization in the deposit is reinforced by the capped values in the rightmost column, wherein any assay result >10 g/t Au is replaced by 10.0 g/t Au to calculate the average interval grades. *Interval widths reported; true widths of the system are not yet known, with different vein generations, orientations, and grade distributions present within various intervals through the bulk tonnage gold target at Valley.

EXPLORATION UPDATES

Figure 3 – Visible gold in AU-24-003, Aurelius target, Rogue Project, at 344.0 m downhole.The trace occurrence was noticed after core cutting for sampling, and it is in a vein hosting pyrrhotite, bismuth-lead sulphides, pyrite and chalcopyrite. Assays for AU-24-003 and all holes at Aurelius are pending, with drilling at the target ongoing.

Snowline currently has two drill rigs active on regional targets: one active on an expanded Phase I drill program on the Rogue Project’s Aurelius target, the other completing the first ever drill testing of the Einarson Project’s Avalanche Creek orogenic gold target. Assays are currently pending for more than 8,100 m drilled on regional targets outside of Valley, namely: Aurelius (4 holes), Cujo (3 holes) and Reid (1 hole) on the Rogue Project, Sydney (3 holes) on the Cynthia Project, and Jupiter (6 holes) and Avalanche Creek (2 holes) on the Einarson Project.

Jupiter Target, Einarson Project

At Jupiter, assays have been received for the first two holes drilled in 2024. Both holes encountered elevated to anomalous (>1 g/t Au, to a high of 13.9 g/t Au over 2.0 m in J-22-024) gold mineralization, expanding the width and depth of the known mineralized system at Jupiter (Table 3).

Hole J-24-022 was drilled as a 170 m step-back from J-21-015 (3.6 m @ 13.7 g/t Au, including 0.95 m @ 25.2 g/t Au, see Snowline news release dated November 18, 2021). It encountered 3 primary zones of mineralization. The upper zone, averaging 3.50 g/t Au over 3.7 m, is interpreted as a new mineralized structural corridor subparallel to mineralization encountered in 2021. The lower two zones, including an interval of 6.87 g/t Au over 6.3 m downhole, along with mineralization seen in J-24-023, extend to depth the mineralized corridor encountered in 2021 (Figure 4). Assays for an additional 2,444 m in 6 holes from the Jupiter target are pending.

Figure 4 – Simplified schematic geological map (left) and cross section (right) of the Jupiter target, showing the locations of six of the eight holes drilled to date in 2024. Note the multiple structures identified, expanding the breadth of the Jupiter system, and the additional high grade gold values down dip. “Mineralization” denotes areas of patchy, veinlet-hosted and/or disseminated sulphides in vein wall rocks. The system remains open in all directions, with only 1.2 km of strike length partially drill tested to date within a broader 3 km zone of elevated (>10 ppb Au) to anomalous (>50 ppb Au) soil geochemistry.

Table 3 – Summary of significant mineralization from current holes at the Jupiter target, Einarson Project.

Sydney Target, Cynthia Project

A 3-hole, 1,344 m Phase I drilling program has recently been completed at the Sydney target, Cynthia Project, representing the first-ever drill testing of the recently delineated RIRGS target located south of Rogue, near the Plata winter trail. Widespread sheeted quartz veins are present in all three holes, with low to high vein densities (Figure 6) and at least two distinct vein generations. Veins appear to have a higher sulphide content than those at Valley. Six instances of visible gold, from two separate holes, were noted during core logging, which is ongoing. Assays for all holes at Sydney are pending.

Figure 5 – Instances of visible gold in SY-24-003, Sydney target, Cynthia Project, at 106.3 m, 152.8 m and 177.8 m downhole.As with mineralization at Valley, gold is present in sheeted quartz veins as native gold. At Cynthia visible gold occurrences are spatially associated with bismuthinite and molybdenite. Three different veins throughout the 458.1 m length of SY-24-003 were observed to host trace visible gold. Assays for SY-24-003 and all holes at Sydney are pending.

Figure 6 – Plan map of drill traces from Phase I drilling at the Cynthia Project’s Sydney target, showing vein densities and instances of visible gold. Assays for all three holes at Sydney are pending.

ANNUAL GENERAL MEETING RESULTS

The Company held its Annual General Meeting (AGM) on August 27, 2024. Shareholders voted in favour of all items of business before the AGM, including the election of all director nominees, the appointment of the auditor, and re-approval of the Omnibus Incentive Plan.   

QA/QC

On receipt from the drill site NQ2-sized drill core was systematically logged for geological attributes, photographed and sampled at Snowline’s “Forks” Camp. Sample lengths as small as 0.5 m were used to isolate features of interest, but most samples within moderate to strong mineralization were 1.0 m in length; 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, dictated by orientation line where present or by dominant vein orientation where absent) collected for analysis and one half stored as a record. Field duplicates were collected at regular intervals as ¼ core samples by splitting the ½ core sent for sampling, leaving a consistent record of half core material from duplicate and non-duplicate samples alike. Standard reference materials and blanks 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 to Bureau Veritas’ preparatory facility in Whitehorse, Yukon. Sample preparation was completed in Whitehorse, with analyses completed in Vancouver.

Bureau Veritas is accredited to ISO/IEC 17025 and ISO9001 for quality management. Samples were crushed by BV to >85% 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 59-element analysis on 0.25 g sample pulps (BV code: MA250). All samples were analysed for gold content by fire assay with an atomic absorption spectroscopy (AAS) finish on 30 g samples (BV code: FA430). Any sample returning >10 g/t Au was reanalysed by fire assay with a gravimetric finish on a 30 g sample (BV code: FA530).

For the purposes of this release, contiguous mineralized intervals at Valley are defined as runs of mineralization with no break >5.0 m assaying <0.1 g/t Au, including any subsections thereof.

ABOUT ROGUE

Snowline Gold’s 100%-owned, flagship Rogue Project, in Canada’s Yukon Territory, covers a 60 x 30 km cluster of intrusions in the eastern Tombstone Gold Belt known as the Rogue Plutonic Complex.

Since its launch in 2021, Snowline has progressed the Rogue Project’s Valley target from a greenfield prospecting discovery to a significant bulk tonnage gold resource, with 4.05 Moz gold indicated mineral resource at 1.66 g/t Au and an additional 3.26 Moz inferred mineral resource at 1.25 g/t Au within a pit-shell constraint. The resource estimate numbers are supported by the recent technical report for Rogue, prepared in accordance with NI 43-101 standards, entitled “Rogue Gold Project: NI 43-101 Technical Report and Mineral Resource Estimate,” authored by Heather Burrell, P. Geo., Daniel J. Redmond, P. Geo., and Steven C. Haggarty, P. Eng., with an effective date of May 15, 2024.

Exploration of the open Valley system is ongoing. Valley is a reduced intrusion-related gold system (RIRGS), geologically similar to multi-million-ounce RIRGS deposits currently in production, like Kinross’s Fort Knox Mine in Alaska, but with substantially higher gold grades. Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays within and along the margins of a one-kilometer-scale, mid-Cretaceous aged Mayo-series intrusion.

The Rogue Project area hosts multiple intrusions similar to Valley along with widespread gold anomalism in stream sediment, soil and rock samples. Elsewhere, RIRGS deposits are known to occur in clusters. For these reasons, Snowline considers the Rogue Project to have district-scale potential to host additional reduced intrusion-related gold systems.

ABOUT SNOWLINE GOLD CORP.

Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering roughly 360,000 ha (3,600 km²). The Company is exploring its flagship 111,000 ha (1,110 km²) Rogue gold project in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits. The Company’s first-mover position and extensive exploration database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

Figure 7 – Project location map for Snowline Gold’s eastern Selwyn Basin properties: Rogue, Einarson, Ursa, Cynthia and Olympus. The Valley target is one of several prospective reduced intrusion-related gold targets on the broader 30 x 60 km Rogue Project.

QUALIFIED PERSON

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

ON BEHALF OF THE BOARD

Scott Berdahl
CEO & Director

For further information, please contact:

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

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including statements regarding the significance of analytical results, the significance of visual drill core observations and visible gold, the potential effects of current analytical results on future mineral resource estimates including expansion of the pit shell and de-risking of the current estimate, the discovery potential within the Valley intrusion and on other exploration targets, the potential for investors to participate in multiple future discoveries, the Rogue project having district-scale prospectivity, the creation of a new gold district and the Company’s future plans and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

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

• Hole V-23-075, drilled at 180 degrees to recent highlight hole V-23-072, returned 471.6 m averaging 2.38 g/t Au, including 302.1 m of 3.20 g/t Au from surface,surpassing initial Valley deposit MRE block model grade predictions by +9%
• Hole V-23-073 returned 325.0 m averaging 2.57 /t Au, including 136.0 m averaging 4.84 g/t Au from surface, slightly outperforming the model near surface
• Widespread alteration and associated oxide + sulphide mineralization along with granodiorite dikes seen in first-ever drilling of Aurelius target, Rogue Project
• Updated NI 43-101 technical report filed for Snowline’s Einarson Project, Yukon.

Vancouver, B.C., August 7, 2024: SNOWLINE GOLD CORP (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce analytical results from additional early-season drill holes on its 2024 exploration campaign and to provide an exploration update from its ongoing 5-drill program in Canada’s Yukon Territory. Highlight intervals from the Valley deposit are summarized in Table 1 below. Holes V-24-075 and V-24-073 are the third and fourth highest ranking holes in terms of contained gold from the Valley deposit to date, with V-24-075 exceeding projections based on the initial mineral resource estimate (MRE) by 9% within the resource-limiting pit shell and by 140% outside of it (18% overall). At the Rogue Project’s Aurelius target, widespread alteration with oxide and sulphide mineralization is present in volcanic and sedimentary rocks, with granodiorite dikes intersected in two holes in the first ever drill testing of the target. Drilling is ongoing at Valley and on other targets, with assays pending for an additional 15,600 m drilled to date.

Table 1 –Highlight summary of Snowline’s latest assay results. Note that the headline interval for V-24-075 comprises two intervals separated by 7 m zone of <0.1 g/t Au; see Table 2 for details. *Interval widths reported; true widths of the system are not yet known.

“We had extremely high expectations for these latest holes at Valley, and they did not disappoint,” said Scott Berdahl, CEO & Director of Snowline. “Based on the block model from our initial mineral resource estimate, we would expect a run of 448 m averaging 2.1 g/t Au for hole V-24-075. We meaningfully exceeded this target in both length and grade, with the hole averaging 2.38 g/t Au over the top 471.6 m from bedrock surface, and with an internal interval of 6.48 g/t Au over 22.0 m from 160.0 m downhole exceeding the grade of anything we had predicted. The results exceed the block model most dramatically outside of the current resource estimate boundary. We expect that this demonstration of robust continuity and of viability in our modelling will assist with de-risking and upgrading mineralization, and it could potentially help to expand our resource-limiting pit shell, pending additional results from our ongoing drilling at Valley.”

VALLEY DRILLING, ROGUE PROJECT

Drilling at the Rogue Project’s Valley deposit is ongoing. To date, roughly 13,600 m have been drilled at Valley in 28 holes in 2024 (Figure 1). Trace instances of visible gold and sheeted quartz vein arrays have been observed both within and beyond the confines of the current, initial MRE for Valley. The Company awaits additional assay results from the ongoing drill campaign to assess the significance of these observations and their impact on the MRE.

Figure 1 – Plan map of drill results and progress on the Rogue Project’s Valley deposit, highlighting current results in drill holes V-24-073 through V-24-075. Past analytical results are faded, while instances of visible gold in holes awaiting assay are marked by yellow spheres.

Hole V-24-075

Hole V-24-075 is collared within the Valley intrusion, from the same location as recent hole V-24-072 (404.8 m @ 2.27 g/t Au including 100.8 m @4.67 g/t Au from bedrock surface, see Snowline news release dated July 24, 2024) but in the opposite direction—to the northeast instead of the southwest (Figure 2). The hole was drilled in this orientation to provide infill in its upper portions and exploration along the northeast margin of the system in its lower portions. It remains primarily in coarse-grained granodiorite, the dominant phase of the intrusion, for the length of the hole.

Figure 2 – Cross-section A-A’, showing V-24-073 through 075 in the context of the initial Valley MRE block model and MRE-constraining revenue factor 0.72 pit shell. The block model has not been updated to reflect the current results, and blocks shown outside of the current pit shell constraint are not included in the initial MRE for Valley. Instances of visible gold in holes awaiting assay results are marked by yellow spheres. The released holes are projected onto the same plane from a total width of roughly 100 m—relative positions can be seen in the plan map in Figure 1. Hole V-24-074 is collared as a 200 m step-back from V-23-045, to assess block model data voids.

The hole averages 2.38 g/t Au over 471.6 m, with the top 302.1 m continuous interval from bedrock surface (at 3.0 m downhole) averaging 3.20 g/t Au. Within this, a 22.0 m interval from 160.0 m downhole averages 6.48 g/t Au. Gold grade continuity is a primary feature of the hole, and as with many holes drilled at Valley, the highest grades are near surface. Owing to this consistency, applying a 10 g/t Au cut-off has a limited effect on results, with the top 302.1 m interval only dropping 2.6% from 3.20 g/t Au to 3.12 g/t Au overall (Table 2).

In weighting observed grades by sample distance—effectively the amount of gold contained within the drill core—versus that predicted for the hole by the Company’s initial mineral resource estimate, the results outperform the MRE by 18% overall, and by 9% within the top 322 m downhole from bedrock surface. V-24-075 exits the current MRE pit-constraint at approximately 322 m downhole, and thus all mineralization below this point, including 152.5 m of the 163.5 m downhole interval averaging 0.94 g/t from 311.0 m downhole (Table 2) are outside of the space considered in the present, initial MRE, outperforming the block model for this area by 140%. The ultimate effect of this result will be quantified along with analytical results of all subsequent holes in an updated mineral resource estimate at a later time.

Figure 3 – Mineralization in V-24-075. Quartz carbonate veins cut through relatively unaltered granodiorite. Orange and blue flags denote observations of trace visible gold within the drill core, with the gold itself hosted in the veins. The 8.0 m downhole interval shown from 117.0 m to 125.0 m downhole averages 6.56 g/t Au. While such grades are among higher values for the hole (see Table 2), the image is representative of mineralization throughout the hole and across much of the rest of the Valley gold deposit, with a higher abundance of veins generally corresponding to higher gold grades.

Figure 4 – Select instances of visible gold in V-24-075, at 33.3 m, 228.5m and 418.2 m downhole.As with other holes at Valley, gold is present in V-24-075 within multiple generations of quartz veins, occurring primarily as native gold and commonly associated with trace to minor bismuthinite. 221 different veins throughout the 485.0 m length of V-24-075 were observed to host trace visible gold.

Hole V-24-073

Hole V-24-073 is also collared in the Valley intrusion, as just the second hole in a new 50 m “fence” across the Valley deposit. It is located 54 m from and nearly on strike with V-23-039 (553.8 m @ 2.48 g/t Au from surface including 132.0 m @ 4.98 g/t Au, see Snowline news release dated August 3, 2023). The only other complete, non-metallurgical hole currently on section with V-24-073 is V-23-066 (383.0 m @ 2.00 g/t Au including 107.5 m @ 3.95 g/t Au from surface, see Snowline news release dated January 15, 2024), collared roughly 64 m to the northeast. (A PQ-sized metallurgical hole was drilled from the collar site of V-23-066 late in the 2023 field season.) The hole begins in the high-grade, near surface zone of gold mineralization and ends at 647.0 m shortly after exiting the intrusion through a 49.0 m zone of dikes and intrusive breccia into surrounding hornfels from 568 m to 617.0 m downhole.

The first continuously mineralized interval in V-24-073 averages 2.57 g/t Au over 325.0 m, including 136.0 m at 4.84 g/t Au from bedrock surface at 2.0 m downhole, with a 33.0 m stretch of mineralization averaging 7.08 g/t Au from 55.5 m downhole (Table 2). This high grade, near surface zone is consistent with those seen in surrounding holes, demonstrating strong continuity of multiple gram-per-tonne gold mineralization within this high-level zone at Valley. The top 584.0 m of the hole from bedrock surface, including barren intervals, averages 1.68 g/t Au.

Table 2 – Summary of significant mineralization returned from current holes at Valley. The consistency of strong mineralization in the deposit is reinforced by the capped values in the rightmost column, wherein any assay result >10 g/t Au is replaced by 10.0 g/t Au to calculate the average interval grades. V-24-073A was aborted at 49.5 m downhole due to an incorrect dip and was redrilled as V-24-073 from the same location. Note that the headline interval for V-24-075 is a combination of two separate mineralized intervals separated by a small (6 m) gap below <0.1 g/t Au. *Interval widths reported; true widths of the system are not yet known, with different vein generations, orientations, and grade distributions present within various intervals through the bulk tonnage gold target at Valley.

EXPLORATION UPDATES

Snowline currently has three drill rigs active on regional targets in the vicinity of Valley: one each on the Rogue Project’s reduced intrusion-related gold system (RIRGS) Reid and Sydney targets, and one on the Einarson Project’s Jupiter orogenic gold target. To date in 2024, 1,184 m has been drilled in 3 holes at Aurelius and 2,407 m has been drilled in 6 holes at Jupiter, while Phase II drilling has recently commenced at Reid and Phase I drilling is scheduled to begin imminently at Sydney. Including the 1,067 m, 3-hole Phase II program completed earlier in the season at Cujo, assays are currently pending for more than 4,600 m on regional targets.

Aurelius Target, Rogue Project

A 3-hole, 1,184 Phase I drilling program has recently been completed at the Aurelius target, representing the first-ever drill testing of the recently delineated target. Widespread clay and silica alteration and zones of brecciation cemented by pyrite and minor chalcopyrite are present in drill holes at Aurelius, along with strong, pervasive oxidation to roughly 70 m vertical depth (Figure 8).

At Aurelius, a thick unit of lapilli tuff appears to be a receptive host to fluids thought to be associated with an RIRGS system. Zones of mineralization observed in drill holes correspond in alteration style and host rock lithology to the mineralized trenches reported from the Aurelius target earlier this year (see Snowline news release dated February 20, 2024). Of note, holes AU-24-001 and AU-24-003 also encountered metre-scale granodiorite dikes with equigranular and porphyritic textures.

Assays for all holes (1,184 m) at Aurelius are pending. The drill rig is currently mobilizing for the first-ever drill testing of the Sydney RIRGS target on the Company’s 100% owned Cynthia Project, south of the Rogue Project (Figure 7). A follow-up Phase II drill program at the Aurelius target may follow later in 2024, pending analytical results from the current drilling.

Figure 5 – Plan map of drill traces from Phase I drilling at the Rogue Project’s Aurelius target, plotted on geology, geochemistry, and high-resolution shaded surface relief. The location of this figure within the broader Aurelius target geochemical anomaly can be seen in Figure 6.

Figure 6 – Plan map of surface geochemistry at the Rogue Project’s Aurelius target, highlighting the scale and intensity of the open-ended anomaly that is interpreted as an upper level of a RIRGS. The 2024 Phase I drill program is located within the blue square, as detailed in Figure 5.

Figure 7 – Hydrothermal breccia in AU-24-002, at roughly 220 m downhole (the interval for this instance of the breccia texture is 211 to 224 m, true width unclear). The breccia is cemented by fine dark pyrite with weak chalcopyrite along with variably silicified rock flour, with fragments of lapilli tuff, volcanic sandstone and silica-altered rock.

Figure 8 – Oxide mineralization in AU-24-001, from 46.6 to 59.3 m downhole, showing hydrothermal crackle breccia with goethite cement, angular fragments of silicified and strongly muscovite-altered lapilli tuff and volcanic sedimentary rocks, continuing into lapilli tuff with silica-dickite alteration. Traces of bismuthinite have been observed in partially oxidized sulphide veins.

EINARSON PROJECT TECHNICAL REPORT

The Company has filed an updated technical report for its Einarson Project. The report, entitled “NI 43-101 Technical Report on the Einarson Gold Project” with an effective date of May 24, 2024, is prepared in accordance with National Instrument 43-101: Standards of Disclosure for Mineral Projects (NI 43-101) standards. The report can be found under the Company’s profile on SEDAR+ and on the Company’s website (snowlinegold.com).

QA/QC

On receipt from the drill site NQ2-sized drill core was systematically logged for geological attributes, photographed and sampled at Snowline’s “Forks” Camp. Sample lengths as small as 0.5 m were used to isolate features of interest, but most samples within moderate to strong mineralization were 1.0 m in length; 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, dictated by orientation line where present or by dominant vein orientation where absent) collected for analysis and one half stored as a record. Field duplicates were collected at regular intervals as ¼ core samples by splitting the ½ core sent for sampling, leaving a consistent record of half core material from duplicate and non-duplicate samples alike. Standard reference materials and blanks 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 to Bureau Veritas’ preparatory facility in Whitehorse, Yukon. Sample preparation was completed in Whitehorse, with analyses completed in Vancouver.

Bureau Veritas is accredited to ISO/IEC 17025 and ISO9001 for quality management. Samples were crushed by BV to >85% 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 59-element analysis on 0.25 g sample pulps (BV code: MA250). All samples were analysed for gold content by fire assay with an atomic absorption spectroscopy (AAS) finish on 30 g samples (BV code: FA430). Any sample returning >10 g/t Au was reanalysed by fire assay with a gravimetric finish on a 30 g sample (BV code: FA530).

For the purposes of this release, contiguous mineralized intervals are defined as runs of mineralization with no break >5.0 m assaying <0.1 g/t Au, including any subsections thereof. The headline interval in V-24-075 (471.6 m of 2.38 g/t Au) is a composite of two intervals with an intervening 6 m gap of <0.1 g/t Au material, as seen in Table 2.

ABOUT ROGUE

Snowline Gold’s 100%-owned Rogue Project, in Canada’s Yukon Territory, covers a 60 x 30 km cluster of intrusions in the eastern Tombstone Gold Belt known as the Rogue Plutonic Complex.

Since its launch in 2021, Snowline has progressed the Rogue Project’s Valley target from a greenfield prospecting discovery to a significant bulk tonnage gold resource, with 4.05 Moz gold indicated mineral resource at 1.66 g/t Au and an additional 3.26 Moz inferred mineral resource at 1.25 g/t Au within a pit-shell constraint. The resource estimate numbers are supported by the recent technical report for Rogue, prepared in accordance with NI 43-101 standards, entitled “Rogue Gold Project: NI 43-101 Technical Report and Mineral Resource Estimate,” authored by Heather Burrell, P. Geo., Daniel J. Redmond, P. Geo., and Steven C. Haggarty, P. Eng., with an effective date of May 15, 2024.

Exploration of the open Valley system is ongoing. Valley is a reduced intrusion-related gold system (RIRGS), geologically similar to multi-million-ounce RIRGS deposits currently in production, like Kinross’s Fort Knox Mine in Alaska, but with substantially higher gold grades. Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays within and along the margins of a one-kilometer-scale, mid-Cretaceous aged Mayo-series intrusion.

The Rogue Project area hosts multiple intrusions similar to Valley along with widespread gold anomalism in stream sediment, soil and rock samples. Elsewhere, RIRGS deposits are known to occur in clusters. For these reasons, Snowline considers the Rogue Project to have district-scale potential to host additional reduced intrusion-related gold systems.

ABOUT SNOWLINE GOLD CORP.

Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering roughly 360,000 ha (3,600 km²). The Company is exploring its flagship 111,000 ha (1,110 km²) Rogue gold project in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits. The Company’s first-mover position and extensive exploration database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

Figure 9 – Project location map for Snowline Gold’s eastern Selwyn Basin properties: Rogue, Einarson, Ursa, Cynthia and Olympus. The Valley target is one of several prospective reduced intrusion-related gold targets on the broader 30 x 60 km Rogue Project.

QUALIFIED PERSON

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

ON BEHALF OF THE BOARD

Scott Berdahl
CEO & Director

For further information, please contact:

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

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including statements regarding the significance of analytical results, the significance of visual drill core observations, the potential effects of current analytical results on future mineral resource estimates, the discovery potential within the Valley intrusion and on other exploration targets, the potential for investors to participate in multiple future discoveries, the Rogue project having district-scale prospectivity, the creation of a new gold district and the Company’s future plans and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

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

The 2024 Snowline Gold Annual General Meeting will be held on Tuesday, August 27, 2024. Please find all AGM-related information below.

***

Notice of Annual General and Special Meeting of Shareholders
Click here to view and download

Form of Proxy
Click here to view and download

Notice of Meeting and Information Circular
Click here to view and download

Return Card
Click here to view and download

Vancouver, B.C., July 31, 2024: SNOWLINE GOLD CORP (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce that it has filed an updated Technical Report for its Rogue Project, located in the eastern Selwyn Basin in the Yukon Territory, Canada.

The updated Technical Report for Rogue, entitled “Rogue Gold Project: NI 43-101 Technical Report and Mineral Resource Estimate” with an effective date of May 15, 2024, is prepared in accordance with National Instrument 43-101: Standards of Disclosure for Mineral Projects (NI 43-101) standards and supports initial mineral resource estimate disclosures on the Company’s Valley deposit made in its June 17, 2024, news release.

The report can be found under the Company’s profile on SEDAR+ and on the Company’s website (snowlinegold.com).

EXPLORATION UPDATE

To date, the Company has drilled over 16,000 m as part of its 25,000+ m planned drill program for 2024, with 5 drill rigs active and drilling ongoing. Three drills are active on the Valley target, with roughly 12,500 m drilled at Valley this season, while a fourth drill has completed roughly 2,000 m of a planned 4,000 m program at the Jupiter target on the Einarson Project. The fifth drill has completed a three-hole, 1,067 m Phase II program at the Rogue Project’s Cujo target and is now drilling at the Aurelius target, where it has completed over 400 m in one completed hole and is currently drilling a second hole of a planned 1,000 m Phase I program. Target locations are highlighted in Figure 1.

ABOUT SNOWLINE GOLD CORP.

Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering roughly 360,000 ha (3,600 km²). The Company is exploring its flagship 111,000 ha (1,110 km²) Rogue gold project along with its nearby 101,000 ha (1,010 km²) Einarson gold project in the highly prospective yet underexplored Selwyn Basin, with an active, ongoing 5-drill program in 2024. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits. The Company’s first-mover position and extensive exploration database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

QUALIFIED PERSON

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

ON BEHALF OF THE BOARD

Scott Berdahl
CEO & Director

For further information, please contact:

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

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including statements regarding the 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.

• Hole V-23-071, collared in a large gap in coverage at the Rogue Project’s Valley deposit, returned 449.7 m averaging 1.77 g/t Au from surface, including 169.2 m of 2.89 g/t Au,surpassing initial MRE block model grade predictions by +36%
• Hole V-23-072 returned 404.8 m averaging 2.27 /t Au, including 100.8 m averaging 4.67 g/t Au from surface, consistent with MRE block model prediction overall and slightly outperforming the model near surface
• Mineralization, including visible gold, encountered in large step-outs in first holes of Phase II program at Einarson Project’s Jupiter target.

Vancouver, B.C., July 24, 2024: SNOWLINE GOLD CORP (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce analytical results from the first two drill holes of its 2024 exploration campaign and to provide an exploration update from its ongoing 5-drill program in Canada’s Yukon Territory. Hole V-24-071, collared in the high-grade, near-surface section of the Valley deposit, averages 1.77 g/t Au over 449.7 m from surface, including 2.89 g/t Au over 169.2 m. This result exceeds that predicted by the Company’s initial mineral resource estimate (MRE) for Valley by 36% overall. Hole V-24-072 averages 2.66 g/t Au over 295.3 m, including 4.67 g/t Au over 100.8 m from surface, in line with expectation but with slightly (1%) more gold than predicted in the top half of the hole. At the Jupiter target on the nearby Einarson Project, trace visible gold has been encountered in a 174 m step-out from previous holes, along with widespread mineralization. Drilling is ongoing at Valley and on other targets, with assays pending for an additional 13,000 m drilled to date.

Table 1 – Highlight summary of Snowline’s latest assay results. Note that the headline interval for V-24-072 comprises multiple intervals separated by small gaps; see Table 2 for details. *Interval widths reported; true widths of the system are not yet known.

“We are encouraged by such a strong start to our 2024 exploration campaign and excited to have regional drilling underway,” said Scott Berdahl, CEO & Director of Snowline. “Our first two holes of the season at our Rogue Project’s Valley deposit underscore the strength and consistency of the deposit, particularly when it comes to high-grade, near-surface gold mineralization. We eagerly await assay results from the many additional holes drilled within and adjacent to the current deposit, and we look forward to seeing results from additional Valley-style gold targets that are set to be drilled soon.

“I would also like to congratulate Snowline’s team on their exploration success at on our Einarson Project’s Jupiter target, an orogenic gold system, where careful structural mapping and interpretation informed bold step-out holes that meaningfully expand the mineralized footprint of the target, which remains open in all directions. We are excited by these initial observations, and we look forward to the analytical results from current holes along with the rest of the ongoing Phase II drill program at Jupiter.”

VALLEY DRILLING, ROGUE PROJECT

Drilling at the Rogue Project’s Valley deposit is ongoing, with three drill rigs working to upgrade and expand the current resource. To date, roughly 11,000 m have been drilled at Valley in 21 holes along with 3 additional holes in progress. Trace instances of visible gold and sheeted quartz vein arrays have been observed both within and beyond the confines of the current, initial mineral resource estimate for Valley (Figure 1). The Company awaits assay results from the ongoing drill campaign to assess the significance of these observations.

Figure 1 – Plan map of drill results and progress on the Rogue Project’s Valley deposit, highlighting current results in drill holes V-24-071 and V-24-072. Past analytical results are faded, while instances of visible gold in holes awaiting assay are marked by yellow spheres.

Hole V-24-071

Snowline’s first hole of 2024, V-24-071, is collared within a 100 x 200 m gap in previous drill coverage on the Valley deposit (Figure 1). The hole was collared in a mineralized section of the Valley intrusion and remained in continuous mineralization until exiting the intrusion at 434.5 m downhole depth, with lower grades continuing into the surrounding hornfels sedimentary rock (0.24 g/t Au over 22.1 m from 434.5 m downhole).

Figure 2 – Cross-section A, showing V-24-071 in the context of the initial Valley MRE block model and MRE-constraining revenue factor 0.72 pit shell. The block model has not been updated to reflect the current results, and blocks shown outside of the current pit shell constraint are not included in the initial MRE for Valley. Instances of visible gold in holes awaiting assay results are marked by yellow spheres.

The hole averages 1.77 g/t Au over 449.7 m from surface, with the top 169.2 m from bedrock surface (at 6.8 m downhole) averaging 2.89 g/t Au. Within this, a 76.0 m interval from 100.0 m downhole averages 3.50 g/t Au. Of note, applying a 10 g/t Au cut-off does not affect the results (Table 2), given that no assays in the hole returned >10.0 g/t Au. This result emphasizes the consistent and continuous nature of the gold mineralization at Valley.

V-24-071 tests a transitional zone from high grades seen in V-23-061 (519.6 m @ 2.5 g/t Au, including 265.6 m @ 3.6 g/t Au from surface, see Snowline news release dated December 6, 2023) collared 59 m to its southeast into lower, but still highly anomalous, grades seen in V-23-055 (359.4 m @ 1.34 g/t Au from surface, see Snowline news release dated November 9, 2023) collared 49 m to its northwest. In weighting observed grades by sample distance—effectively the amount of gold contained within the drill core—versus that predicted for the hole by the Company’s initial mineral resource estimate, the results outperform the MRE by 36% overall, and by 65% within the top 189.9 m downhole from bedrock surface. This result suggests that the zone of near-surface, high grade mineralization at Valley may be more robust than already understood. The ultimate effect of this result will be quantified along with analytical results of all subsequent holes in an updated mineral resource estimate at a later time.

Hole V-24-072

Hole V-24-072 is also collared in the Valley intrusion, infilling a 92 m gap on section between V-23-039 (553.8 m @ 2.48 g/t Au from surface including 132.0 m @ 4.98 g/t Au, see Snowline news release dated August 3, 2023) and V-23-048 (265.2 m @ 2.2 g/t Au including 100.2 m @ 3.28 g/t Au from surface, see Snowline news release dated September 11, 2023). The hole begins in the high-grade, near surface zone of gold mineralization and ends shortly after exiting the intrusion into surrounding hornfels at 414.5 m downhole.

Figure 3 – Cross-section B, showing V-24-072 in the context of the initial Valley MRE block model and MRE-constraining revenue factor 0.72 pit shell. The block model has not been updated to reflect the current results, and blocks shown outside of the current pit shell constraint are not included in the initial MRE for Valley. Instances of visible gold in holes awaiting assay results are marked by yellow spheres.

Including several short (5-6 m downhole length) barren (<0.1 g/t Au) zones near the bottom of the interval, V-24-072 averages 2.27 g/t Au over 404.8 m from bedrock surface at 3.7 m downhole. The first continuously mineralized interval averages 2.66 g/t Au over 295.3 m, including 100.8 m of 4.67 g/t Au, both from bedrock surface at 3.7 m downhole (Table 2). This high grade, near surface zone is consistent with those seen in surrounding holes (4.98 g/t Au over 132.0 m from bedrock surface in V-23-039, 5.03 g/t Au over 30.2 m from bedrock surface in V-23-048), demonstrating strong continuity of multiple gram-per-tonne gold mineralization within this high-level zone at Valley.

V-24-072 exits the current MRE pit-constraint at approximately 310 m downhole, and thus all intervals below this point, including 17.0 m of 3.98 g/t Au and 42.0 m averaging 1.01 g/t Au are outside of the space considered in the present, initial MRE.

Table 2 – Summary of significant mineralization returned from current holes at Valley. The consistency of strong mineralization on the target is reinforced by the capped values in the rightmost column, wherein any assay result >10 g/t Au is replaced by 10.0 g/t Au to calculate the average interval grades. Note that the headline interval for V-24-072 is a combination of four separate mineralized intervals separated by small (5-6 m) gaps below <0.1 g/t Au. *Interval widths reported; true widths of the system are not yet known, with different vein generations, orientations, and grade distributions present within various intervals through the bulk tonnage gold target at Valley.

EXPLORATION UPDATES

Eagle Mine Incident and Regional Exploration Program

Following the heap leach failure incident at Victoria Gold’s Eagle Mine on June 24^th, Snowline has been in ongoing communication with the First Nation of Na-Cho Nyäk Dun (FNNND), within whose Traditional Territory the Rogue and Einarson Projects are located. Snowline recognizes that FNNND’s resources and staff are currently committed to the immediate response to the Eagle Mine incident and ongoing threat of wildfires in the Mayo area. The Company remains respectful and responsive to FNNND’s concerns relating to mining activities and mineral exploration in light of the current situation.

Snowline shares in the concerns held by FNNND relating to the environment, potential impacts and community well-being and has made adjustments to its planned program. The Company is committed to the responsible undertaking of its seasonal exploration activities, while respecting our relationships with First Nations, local communities, our contractors and our workers.

Jupiter Target, Einarson Project

Phase II drilling is underway at the Company’s Jupiter target, following up on the drill discovery by Snowline of an extensive orogenic gold system at Jupiter in 2021 (see e.g. Snowline news release dated January 12, 2022) and the recent consolidation of the Einarson project (see Snowline news release dated April 25, 2024). The first four drill holes of the 2024 campaign are complete, with assays pending for roughly 1,500 m from the target and drilling ongoing.

Figure 4 – Visible gold in a fractured quartz carbonate vein in J-24-024, the southernmost hole drilled at the Einarson Project’s Jupiter target to date. The occurrence, at 256.2 m downhole depth, is roughly 1.2 km along strike from the northernmost hole, J-21-020, which also encountered visible gold (8.3 g/t Au over 4.7 m downhole, see Snowline news release dated January 12, 2022). The vein is roughly 5 cm true width and sits atop an 8 m interval of clay alteration in the hanging wall of a fault zone.

Following detailed surface mapping and structural interpretation, the new drillholes test the southeastern end of the system, both as step-backs across the width of the system and as step-outs along strike (Figure 5). The holes are successful in demonstrating additional mineralized structures to the east of the structures intersected in Phase I drilling in 2021, expanding the known width of the system by at least 200 m, showing continuity to depth and demonstrating an increased strike length of known mineralization. Assays are pending for all holes drilled at Jupiter in 2024.

Figure 5 – Simplified schematic geological map (left) and cross section (right) of the Jupiter target, showing the locations of the four holes drilled to date in 2024. Note the multiple structures identified, expanding the breadth of the Jupiter system, and the continuity of strong mineralization encountered at depth. “Mineralization” denotes areas of patchy, veinlet-hosted and/or disseminated sulphides in vein wall rocks. The system remains open in all directions, with only 1.2 km of strike length partially drill tested to date within a broader 3 km zone of elevated (>10 ppb Au) to anomalous (>50 ppb Au) soil geochemistry.

Cujo Target, Rogue Project

At the Cujo target, roughly 32 km west of Valley, a 3-hole, 1,067 m Phase II drill program has been completed. Drilling intersected broad zones of sheeted quartz vein mineralization hosting minor amounts of bismuthinite. Visible gold was not observed during logging. Interestingly, a 50-cm dyke of fine-grained porphyritic intrusive was observed in CU-24-003, the first hole of the season at Cujo. This dike is similar in appearance and character to a porphyritic intrusive phase at the Valley target that is thought to be a primary factor in driving the unusually high-grade gold mineralization at that target. The Company views the presence of this unit at the Cujo target as a promising indicator for regional prospectivity across the Rogue Plutonic Complex. Assays are pending for all holes at Cujo.

Following completion of the Cujo drill program, the drill rig has mobilized to the Rogue project’s Aurelius target for Phase I drilling on the newly delineated target (see Snowline news release dated February 20, 2024).

Sydney Target, Cynthia Project

At the Sydney target on the Cynthia Project, located roughly 24 km south of Valley, a 72 m outcrop surface channel sampling program has been completed, targeting the high-density (>10 veins/m) quartz vein arrays present on surface over a 900 x 500 m area. One instance of visible gold was found in outcrop during this sampling program, the first observation of visible gold at this new target and Snowline’s sixth discovery of visible gold on a distinct exploration target in the vicinity of Valley. Assays for this sampling program are pending and will be used to prioritize Sydney against other potential targets for near-term drill testing.

Figure 6 – High quartz vein densities with multiple vein orientations in outcrop at the Cynthia Project’s Sydney target (left) and the Rogue Project’s Valley target (right), highlighting similarities between the two.

WARRANTS & RSUs

Snowline announces the early exercise of 1,171,146 warrants, for proceeds to the Company of CDN $2,927,865. The warrants were initially set to expire in August 2024. Following this exercise, Snowline has only 200,000 additional warrants outstanding, at a strike price of $3.50.

In addition, following the recent appointment of Gil Lawson to the Board of Directors as an Independent Director, the Company has issued 75,000 deferred share units (DSUs) as a long-term equity incentive in accordance with the Company’s Omnibus Incentives Plan. The DSUs will not vest until the recipient ceases to be a Director of the Company.

QA/QC

On receipt from the drill site NQ2-sized drill core was systematically logged for geological attributes, photographed and sampled at Snowline’s “Forks” Camp. Sample lengths as small as 0.5 m were used to isolate features of interest, but most samples within moderate to strong mineralization were 1.0 m in length; 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, dictated by orientation line where present or by dominant vein orientation where absent) collected for analysis and one half stored as a record. Field duplicates were collected at regular intervals as ¼ core samples by splitting the ½ core sent for sampling, leaving a consistent record of half core material from duplicate and non-duplicate samples alike. Standard reference materials and blanks 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 to Bureau Veritas’ preparatory facility in Whitehorse, Yukon. Sample preparation was completed in Whitehorse, with analyses completed in Vancouver.

Bureau Veritas is accredited to ISO/IEC 17025 and ISO9001 for quality management. Samples were crushed by BV to >85% 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 59-element analysis on 0.25 g sample pulps (BV code: MA250). All samples were analysed for gold content by fire assay with an atomic absorption spectroscopy (AAS) finish on 30 g samples (BV code: FA430). Any sample returning >10 g/t Au was reanalysed by fire assay with a gravimetric finish on a 30 g sample (BV code: FA530).

For the purposes of this release, contiguous mineralized intervals are defined as runs of mineralization with no break >5.0 m assaying <0.1 g/t Au, including any subsections thereof. The headline interval in V-24-072 (404.8 m of 2.3 g/t Au) is a composite of four intervals and the intervening 6, 6 and 5 m gaps of <0.1 g/t Au materials, as seen in Table 2.

ABOUT ROGUE

Snowline Gold’s 100%-owned Rogue Project, in Canada’s Yukon Territory, covers a 60 x 30 km cluster of intrusions in the eastern Tombstone Gold Belt known as the Rogue Plutonic Complex.

Since its launch in 2021, Snowline has progressed the Rogue Project’s Valley target from a greenfield prospecting discovery to a significant bulk tonnage gold resource, with 4.05 Moz gold indicated mineral resource at 1.66 g/t Au and an additional 3.26 Moz inferred mineral resource at 1.25 g/t Au within a pit-shell constraint (see Snowline news release dated June 17, 2024). Exploration of the open Valley system is ongoing. Valley is a reduced intrusion-related gold system (RIRGS), geologically similar to multi-million-ounce RIRGS deposits currently in production, like Kinross’s Fort Knox Mine in Alaska, but with substantially higher gold grades. Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays within and along the margins of a one-kilometer-scale, mid-Cretaceous aged Mayo-series intrusion.

The Rogue Project area hosts multiple intrusions similar to Valley (Figure 6) along with widespread gold anomalism in stream sediment, soil and rock samples. Elsewhere, RIRGS deposits are known to occur in clusters. For these reasons, Snowline considers the Rogue Project to have district-scale potential to host additional reduced intrusion-related gold systems.

ABOUT SNOWLINE GOLD CORP.

Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering roughly 360,000 ha (3,600 km²). The Company is exploring its flagship 111,000 ha (1,110 km²) Rogue gold project in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits. The Company’s first-mover position and extensive exploration database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

Figure 7 – Project location map for Snowline Gold’s eastern Selwyn Basin properties: Rogue, Einarson, Ursa, Cynthia and Olympus. The Valley target is one of several prospective reduced intrusion-related gold targets on the broader 30 x 60 km Rogue Project.

QUALIFIED PERSON

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

ON BEHALF OF THE BOARD

Scott Berdahl
CEO & Director

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

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including statements regarding the significance of analytical results, the significant of visual drill core observations, the discovery potential within the Valley intrusion and on other exploration targets, the potential for investors to participate in multiple future discoveries, the Rogue project having district-scale prospectivity, the creation of a new gold district and the Company’s future plans and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

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

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

Vancouver, B.C., June 17, 2024: SNOWLINE GOLD CORP. (TSX-V: SGD) (OTCQB: SNWGF) (the “Company” or “Snowline”) is pleased to report an initial Mineral Resource Estimate (MRE) prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (NI 43-101) standards for the Valley Deposit, the first discovery on its 100% owned, 1,110 km² Rogue Project in Canada’s Yukon Territory.

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

INITIAL MINERAL RESOURCE ESTIMATE OVERVIEW

The initial MRE for the Valley Deposit is prepared in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum Definition ‎Standards incorporated by reference in NI 43-101. The initial, revenue factor 0.72 pit shell-constrained MRE contains Indicated Mineral Resources of 76 million tonnes (Mt) at 1.66 grams per tonne gold (g/t Au) for 4.05 million ounces (Moz) gold in addition to Inferred Mineral Resources of 81 Mt at 1.25 g/t Au for 3.26 million ounces gold (Table 1) using a 0.4 g/t Au cut-off grade. The estimate is based on 27,911 metres (m) drill data from all 68 holes at Valley available as of May 15, 2024, prior to the commencement of Snowline’s ongoing 2024 drill campaign. Work is underway to expand on the initial MRE, which supports Snowline’s view that Valley has encouraging potential to host a long-life, high-quality gold mine.

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

Notes:

1. The effective date of the Mineral Resource Estimate is May 15, 2024, and the Mineral Resource Estimate is based upon all available exploration data available to the end of January 2024.
2. Values for tonnage and contained gold are rounded to the nearest thousand
3. Estimated Mineral Resources were classified following CIM Definition Standards.  The quantity and grade of the Inferred Mineral resources listed here are uncertain in nature and have insufficient exploration data to classify them as Indicated Mineral Resources, and it is not certain that additional exploration will result in the upgrading of the Inferred Mineral Resources to a higher category.
4. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.  The estimate of Mineral Resources may be materially affected by Metal Prices, Economic Factors, Environmental, Permitting, Legal, Title, or other relevant issues.
5. All stated Mineral Resources are contained with a pit shell of approximately 297 Mt of material.  All blocks located below or outside of this pit shell have been excluded from the Mineral Resource Estimate regardless of gold grade or Mineral Resource category.
6. The Mineral Resource cut-off grade of 0.40 g/t gold and the Lerchs-Grossman limiting pit shell have been defined with the following assumptions:

• An assumed conventional gold mill processing operation with a nominal process rate in the range of 25,000 t/day milled.
• A gold price of US$ 1,800/ounce and CAN$/US$ exchange rate of 1.30.
• Average mining costs of CAN$ 3.50 per tonne of material mined.
• Average processing costs of CAN$ 22.00 per tonne processed.
• A process recovery of 93% for gold.
• Average administrative costs of CAN$ 80 million per annum or CAN$ 8.77 per tonne processed.
• A 1% royalty on recovered gold.
• Refining and selling costs of CAN$ 9.10 per recovered ounce of gold.
• Overall pit slopes of 45 degrees.
• The pit shell selected as the Mineral Resources limit has a revenue factor of 0.72.
  

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

Notes:

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

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

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

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

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

Figure 1 – Cross section 31 through Valley initial MRE block model. A large zone of continuous, >2 g/t Au mineralization is present from surface.Resource blocks are 15 x 15 x 10 m. Only blocks above cutoff grade of 0.4 g/t Au located within the revenue factor 0.72 shell are included in initial MRE for Valley – none of the mineralized blocks shown outside of this shell are included. Mineralization remains open in multiple locations, particularly along the northeastern edge of the section. For the section display, drill hole grades are composited within 10 m benches and project 25 m in front of and behind section.

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

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

Figure 4 – Long section through Valley initial MRE block model. As with the previous cross sections, a large zone of continuous, >2 g/t Au mineralization is present from surface. Sequential shells highlighting the distribution of grades are shown on this figure, with classification breakdowns shown in Table 3.Resource blocks are 15 x 15 x 10 m. Only blocks above cutoff grade of 0.4 g/t Au located within the revenue factor 0.72 shell are included in initial MRE for Valley – none of the mineralized blocks shown outside of this shell are included. Mineralization remains open in multiple locations, particularly at depth in the southeastern and northwestern parts of the section. For the section display, drill hole grades are composited within 10 m benches and project 25 m in front of and behind section.

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

VALLEY DEPOSIT GEOLOGY

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

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

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

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

ABOUT ROGUE

Snowline Gold’s 100%-owned Rogue Project, in Canada’s Yukon Territory, covers a 60 x 30 km cluster of intrusions in the eastern Tombstone Gold Belt known as the Rogue Plutonic Complex.

Since its launch in 2021, Snowline has progressed the Rogue Project’s Valley target from a greenfield prospecting discovery to a significant bulk tonnage gold resource, with 4.05 Moz gold indicated mineral resource at 1.66 g/t Au and an additional 3.26 Moz inferred mineral resource at 1.25 g/t Au within a pit-shell constraint. Exploration of the open Valley system is ongoing. Valley is a reduced intrusion-related gold system (RIRGS), geologically similar to multi-million-ounce RIRGS deposits currently in production, like Kinross’s Fort Knox Mine in Alaska, but with substantially higher gold grades. Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays within and along the margins of a one-kilometer-scale, mid-Cretaceous aged Mayo-series intrusion.

The Rogue Project area hosts multiple intrusions similar to Valley (Figure 6) along with widespread gold anomalism in stream sediment, soil and rock samples. Elsewhere, RIRGS deposits are known to occur in clusters. For these reasons, Snowline considers the Rogue Project to have district-scale potential to host additional reduced intrusion-related gold systems.

ABOUT SNOWLINE GOLD CORP.

Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering roughly 360,000 ha (3,600 km²). The Company is exploring its flagship 111,000 ha (1,110 km²) Rogue gold project in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits. The Company’s first-mover position and extensive exploration database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

Figure 7 – Project location map for Snowline Gold’s eastern Selwyn Basin projects: Rogue, Einarson, Ursa, Cynthia and Olympus. The Valley Deposit is one of several prospective reduced intrusion-related gold system (RIRGS) targets on the broader 30 x 60 km Rogue Project, complemented by orogenic, Carlin-type, RIRGS and other sediment hosted gold targets on surrounding projects.

QUALIFIED PERSON

The technical work of the initial MRE was completed by Dan Redmond, P.Geo., an independent qualified person as defined by NI 43-101. He has reviewed, verified and approved the technical information related to the MRE in this news release.

All other information in this news release has been prepared under the supervision of, verified and approved by Thomas K. Branson, M.Sc., P. Geo., VP Exploration of Snowline, as a qualified person for the purposes of NI 43-101.

ON BEHALF OF THE BOARD

Scott Berdahl
CEO & Director

For further information, please contact:

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

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including statements about the Company’s belief that Valley has excellent potential for continued growth, the Company’s belief that the region around Valley has the potential to become a prolific minerals district, the Company’s view that Valley has encouraging potential to host a long-life, high-quality gold mine and the Company considering the Rogue Project to have district-scale potential to host additional reduced intrusion-related gold systems. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

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

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

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

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

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

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

ABOUT SNOWLINE GOLD CORP.

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

ON BEHALF OF THE BOARD

Craig J.R. Hart
Independent Board Chair

For further information, please contact:

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

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including statements about the Company’s drill program, results, implied significance of visual inspection of drill core, and surface work and plans for exploring and expanding a new greenfield, district-scale gold system. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

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

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

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

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

2024 EXPLORATION PLANS

Drilling:

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

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

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

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

Surface Exploration:

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

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

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

Valley Camp:

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

EINARSON UPDATE

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

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

ABOUT ROGUE

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

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

ABOUT SNOWLINE GOLD CORP.

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

QUALIFIED PERSON

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

ON BEHALF OF THE BOARD

Scott Berdahl
CEO & Director

For further information, please contact:

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

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including statements about the Company’s drill program, results, implied significance of visual inspection of drill core, and surface work and plans for exploring and expanding a new greenfield, district-scale gold system. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

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