Category: Uncategorized

• Hole V-23-061 returned 519.6 m averaging 2.46 g/t Au, including 3.60 g/t Au over 265.6 m from surface, the strongest near-surface mineralization (upper 250 vertical metres) encountered to date on the Rogue Project’s Valley target
• Hole V-23-059 and V-23-060 demonstrate strong continuity and breadth in the southeastern part of the Valley system, returning 429.6 m averaging 1.01 g/t Au from surface (including 1.91 g/t Au over 133.0 m) and 109.5 m averaging 1.02 g/t Au respectively.
• Analytical results pending for 5,475 m from 16 holes (including one metallurgical hole at Valley) across 3 targets in addition to results of extensive surface exploration campaign.

Vancouver, B.C., December 6, 2023: SNOWLINE GOLD CORP (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce analytical results from additional exploration holes drilled on its Rogue Project in Canada’s Yukon Territory. Hole V-23-061 returned 2.46 g/t Au over 519.6 m from surface, including 3.60 g/t Au over 265.6 m downhole, demonstrating a strong consistency of near-surface, multiple-gram-per-tonne-gold mineralization. Holes V-23-059 and V-23-060 were drilled within the southeast extension of the system and add dimensionality and consistency to known mineralization in that direction. Assays for more than 5,475 m of diamond drilling from Snowline’s 2023 exploration efforts remain pending.

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

“The Valley discovery on our 100%-owned, district-scale Rogue Project continues to demonstrate strong, continuous gold mineralization across a large area from surface,” said Scott Berdahl, CEO & Director of Snowline. “Hole V-23-061 returned the strongest gold interval we’ve seen near surface in any hole to date, highlighting the favorable characteristics of the Valley system for efficient mining—namely strong, consistent mineralization with the highest grades beginning at or near surface in a topographically advantageous position. With December upon us, we have much to look forward to in terms of additional drill results, surface exploration results, advanced metallurgical testing and of course an aggressive exploration season ahead in 2024 on Valley and other targets across our >330,000 ha land position.”

Figure 1 – Plan view of the Rogue Project’s Valley target showing analytical results from previous and current drilling, along with drill traces of outstanding holes. Note that to display new results, current holes are plotted above previous holes regardless of relative depths. The system remains open in multiple directions, including to depth. Endpoints for sections A (Figure 2) and B (Figure 4) are indicated on the map.

HOLE V-23-061

Hole V-23-061 is collared in coarse-grained granodiorite within the Valley intrusion roughly 60 m northeast of V-22-039 (553.8 m @ 2.48 g/t Au including 183.3 m @ 4.34 g/t Au from surface, see Snowline news release dated August 3, 2023) and 51 m southwest of V-23-037 (383.8 m @ 2.47 g/t Au from surface including 120.0 m @ 4.06 g/t Au, same news release). It continues in coarse-grained granodiorite for the length of the hole, intersecting two small (1 m scale) dikes of fine-grained granodiorite (Figure 2). The hole commences in strong, sheeted gold-bearing quartz vein mineralization (Figure 3) from bedrock surface at 5.5 m downhole and continues in strong mineralization until approximately 270 m downhole, where the hole intersects a central, valley-parallel fault. Quartz vein densities drop off below the fault, but lower grade mineralization continues for the remainder of the hole. Vein orientations in the lower part of the hole generally run at low angles to the drill core, whereas in the upper part of the hole they are consistent with the dominant, steeply dipping northwest striking vein array seen across the Valley intrusion.

Figure 2 – Cross-section A, showing V-23-061 in the context of adjacent holes and a simplified, schematic geological model. V-23-061 was collared between two of the strongest holes drilled at Valley to date – V-23-037 and V-23-039. It intersected a broad zone of consistent, near-surface, multiple-gram per tonne mineralization stronger than any previous intersection in the upper part of the Valley gold system to date. View looks northwest. See Figure 1 for section location.

Overall, the top 519.6 m downhole from bedrock surface average 2.46 g/t Au, with an internal interval of 265.6 m averaging 3.60 g/t Au also beginning from surface. This sub interval is the strongest near-surface (upper 250 vertical metres from bedrock surface) mineralized intersection from the Valley target to date. Within this, a zone of sustained higher grades beginning at 149.0 m downhole averages 6.47 g/t Au over 47.5 m.

As seen in Figure 2, the consistency of strong, near-surface mineralization in V-23-061 is emphasized by the even distribution of grades. Within the top 265.6 m interval downhole from bedrock surface, 90% of assays (measured by core length) returned >1 g/t Au and no assays returned <0.4 g/t Au. As with many other holes at Valley, capping mineralization at 10 g/t Au has only a minor effect on grades—in the near surface interval, the capped average is 3.4% lower, at 3.48 g/t Au instead of 3.60 g/t Au over the 265.6 m downhole interval. Within this, the 143.0 m downhole stretch from 68.5 m to 211.5 m represents the longest interval to date at Valley without a single assay value <1.0 g/t Au. Nearly half (46.1%) of the assays within this interval are above 4.0 g/t Au, and 82.8% returned greater than 2.0 g/t Au. (The average grade over this 143.0 m interval is 4.54 g/t Au.)

Towards the bottom of the broader 519.6 m interval, beginning at 514.0 m downhole, a quartz vein roughly 2 cm wide running subparallel to the core for approximately 1 metre was intersected, with abundant millimetre to sub-millimetre scale instances of visible gold. This interval yielded 154.7 g/t Au across 1.0 m downhole (with a localized true width closer to the 5.1 cm diameter of the drill core).

The hole ends with a second interval of mineralization beginning at 534.0 m downhole and averaging 0.35 g/t Au over 64.0 m. Gold values within this interval have higher variance, owing to the lower vein density and the subparallel orientation of the veins to the drilling direction.

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. *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. The 154.70 g/t Au value in V-23-061 is a relatively isolated instance of a narrow (~2 cm), gold-rich vein running near parallel to core over along one meter of core length.

Figure 3 – High quartz vein density observed in V-23-061, from 129.3 m to 160.0 m downhole, as seen in a September 11, 2023 news release. This 30.7 m downhole interval averages 5.87 g/t Au and includes the top of a 47.5 m interval averaging 6.47 g/t Au from 149.0 m downhole. Orange flagging marks instances of trace visible gold. Multiple generations of quartz veins can be seen cutting the core at different orientations. NQ2 sized drill core shown is 5.1 cm in diameter.

HOLE V-23-059

Hole V-23-059 is collared in coarse-grained granodiorite of the Valley stock, on section between V-23-044 (295.9 m @ 1.32 g/t Au from surface including 157.0 m @ 2.03 g/t Au, see Snowline news release dated September 11, 2023) roughly 132 m to its southwest and V-22-027 (481.5 m @ 0.69 g/t Au including 250.0 m @ 1.01 g/t Au, see Snowline news release dated January 18, 2023) roughly 108 m to its northwest (Figures 1 and 4).

The hole encountered sheeted gold-bearing quartz vein mineralization from bedrock surface at 6.9 m downhole. The full interval of continuous mineralization within the hole averages 1.01 g/t Au over 429.6 m from bedrock surface, with a higher-grade zone averaging 1.97 g/t Au over 105.5 m from 112.0 m downhole. A second interval of lower grade mineralization (0.28 g/t Au over 44.0 m from 450.0 m downhole) is present near the edge of the intrusion. The hole exits the intrusion at 507.0 m downhole into primarily non-mineralized hornfels.

Gold grades in V-23-059 are not affected by grade capping at 10 g/t Au, demonstrating the consistent nature of mineralization across the broad mineralized interval.

Both V-23-059 and V-23-060 add breadth to the known extent of near-surface >1 g/t Au (to nearly 2.0 g/t Au in the case of V-23-059) mineralization in the southeast extension of the Valley gold system.

Figure 4 – Cross-section B, showing V-23-059 in the context of adjacent holes and a simplified, schematic geological model. The hole demonstrates breadth of consistent mineralization perpendicular to the northwest strike of the system in southeastern part of Valley, including a 106.5 m run of mineralization at 1.97 g/t Au, potentially extending the zone of 2.03 g/t mineralization seen in previous hoe V-23-044. View looks northwest. See Figure 1 for section location.

REGIONAL DRILLING

Gracie Target, Rogue Project

At Gracie, assays for G-23-008 and G-23-009 have been received (Table 3). These holes were drilled in the western and southern parts of the zone of hornfels at Gracie, away from the primary planned hole locations which were postponed due to technical conditions at the pad sites. Both holes intersected long runs of hornfels sandstones, siltstones and cherts, with rare quartz veins and varying degrees of silicification along with biotite and chlorite alteration. Gold values were generally low, with elevated to anomalous gold values of up to 1.57 g/t over 0.8 m.

The results will be used alongside previous drilling, geophysics, surface geochemistry and mapping to determine an optimal follow-up drilling strategy for the Gracie target.

Table 3 – Summary of mineralization returned from current holes at Gracie. Various lesser intervals are present but not listed. *Interval widths reported; true widths have not been determined.

QA/QC

On receipt from the drill site NQ2-sized drill core was systematically logged for geological attributes, photographed and sampled at Snowline’s 2023 field 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.

Similar procedures were employed on the Tosh Project, though drill core was transported to Whitehorse in advance of detailed logging and sampling.

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, mineralized intervals are defined as runs of mineralization with no break >5.0 m assaying <0.1 g/t Au, including any subsections thereof.

ABOUT ROGUE

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

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

Figure 5 – Project location map for Snowline Gold’s eastern Selwyn Basin properties: Rogue, Einarson, Ursa, Cynthia and Olympus. The Valley target is one of several prospective reduced intrusion-related gold 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, cost-effective production of gold, the discovery potential within the Valley intrusion, the potential for investors to participate in multiple future discoveries, the Rogue project having district-scale prospectivity, the creation of a new gold district and the Company’s future plans and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

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

Vancouver, B.C., November 27, 2023: SNOWLINE GOLD CORP (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is honoured to announce its receipt of the 2023 Robert E. Leckie Award for Excellence in Environmental Stewardship from the Government of Yukon.

“I would like to thank the awards committee and to thank and congratulate Snowline’s entire team—including our industry and First Nations partners—on this recognition of our ongoing efforts towards environmental stewardship and ultimately of the culture of integrity, accountability and respect that our team works so hard to instill,” said Scott Berdahl, CEO & Director of Snowline. “There is an irony underlying many mineral explorers working in the Yukon. Although we work in a development-focused industry, we are driven by a passion for the natural world, a passion that gets us out on the land and away from more conventional office-based work. As a company, we recognize the intrinsic value of a strong natural environment and the Yukon’s wild spaces. We also recognize the importance and necessity of metals to modern society. Thus, we seek to find a balance, striving to lay the foundation for a strong local economy that can support healthy communities and high quality of life while ensuring the Yukon’s vast wilderness can be enjoyed and relied upon for generations to come.”

John Streicker, the Yukon’s Minister of Energy, Mines & Resources, stated: “Our government is committed to supporting sustainable, responsible mining and mineral exploration across the Yukon. Congratulations to Snowline Gold Corporation for winning this year’s Leckie Award, an honour that recognizes their values and commitment. The company’s work near Mayo is an example of how exploration can be done in a way that promotes environmental stewardship and meaningful collaboration with First Nations partners.”

The awards committee recognised various efforts and initiatives undertaken by the Company, including progressive reclamation of its surface disturbances, drill pad site optimization to minimize clearing, clean-up of a long-abandoned third-party exploration camp on its claims, and several projects launched in collaboration with Yukon Seed and Restoration (YSR), a First Nation of Nacho Nyak Dun majority-owned environmental business. The projects with YSR include pre-disturbance botanical inventories for multiple work sites, local collection of native seed banks for future reclamation of surface disturbances, and the establishment of trial reclamation plots to assess the on-site effectiveness of various applications of these local seeds for rapid and effective revegetation.

In addition, Snowline’s main exploration camp is primarily powered by a 27.5 kW solar array, providing clean, on-site energy production that replaces and offsets carbon emissions that would otherwise come from hydrocarbons. The solar array and associated equipment are leased from the First Nations owned Nacho Nyak Dun Development Corporation and are installed and maintained by the Yukon renewable energy company Solvest. Snowline has also initiated key environmental baseline studies, including water quality, hydrology, and wildlife surveying at and near its Rogue Project’s Valley discovery from a very early stage in the exploration process.

Figure 1 – Reclamation of an abandoned third-party exploration camp on Snowline’s mineral tenure. Top: Site during cleanup – deconstructing a tent platform. Middle: Site following cleanup, before burning of combustible materials. Bottom: Metals and other non-combustible debris were slung by helicopter from site for disposal at proper facilities.

Figure 2 – Solar power facility at Snowline’s “Forks” Camp. The 27.5 kW facility provides most of the electrical power used by the camp during the exploration season, including power to several core cutting saws. The equipment is under lease from the Nacho Nyak Dun Development Corporation under a 5-year partnership to provide renewable energy to the Company.

The Leckie Award is presented in up to three categories each year, with recognition for socially responsible practices, environmental stewardship, and innovation in mining in Canada’s Yukon Territory. The awards committee comprises representatives from the Council of Yukon First Nations, the Yukon Chamber of Mines, the Klondike Placer Miner’s Association, and the Government of Yukon. The award was presented on November 20 at the Yukon Geoscience convention in Whitehorse, Yukon.

Figure 3 – Representatives from Snowline at the 2023 Yukon Geoscience awards banquet on November 20, 2023, in Whitehorse, Yukon. From left to right: Sergio Gamonal (Chief Geologist), Dr. Craig Hart (Chair & Independent Director), Dr. Gregor Hahn (Geologist), Dr. Nicolas Piette-Lauziere (Geologist), Scott Berdahl (CEO & Director), Thomas Branson (VP Exploration), Zoe Goodyear (Database Manager) & Sarah Weber (Independent Director).

ROBERT E. LECKIE

Robert “Bob” E. Leckie (1957-1999) was a geographer and mining inspector who moved north from Alberta to serve in the Yukon’s Mayo Mining District from 1987 through 1999. His legacy stems from a passion for innovation, collaboration between governments and industry, and the development of progressive land use practices for mining and reclamation.

ABOUT SNOWLINE GOLD CORP.

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

ON BEHALF OF THE BOARD

Scott Berdahl
CEO & Director

For further information, please contact:

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

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

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including statements regarding the potential to participate in multiple future discoveries, the creation of a new gold district and the Company’s future plans and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

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

• Hole V-23-056 returned 372.9 m averaging 1.45 g/t Au, including 2.07 g/t Au over 212.4 m from surface, demonstrating strong continuity of near-surface >2 g/t Au grades across a large area on the Rogue Project’s Valley target
• Hole V-23-055 returned 359.4 m averaging 1.34 g/t Au from surface including 1.71 g/t Au over 132.5 m, extending near-surface >1 g/t Au mineralization by over 100 m towards the open northeast edge of the mineralized system at Valley
• Analytical results pending for 8,300 m from 21 holes (including one metallurgical hole at Valley) across 4 targets in addition to results of extensive surface exploration campaign.

Vancouver, B.C., November 9, 2023: SNOWLINE GOLD CORP (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce further analytical results from exploration holes drilled on its Rogue Project in Canada’s Yukon Territory. Holes drilled within the Valley intrusion show consistent gold mineralization across broad intervals from surface. Hole V-23-055 averages 1.34 g/t over 359.4 m downhole from surface and expands the known limits of near-surface >1 g/t mineralization by >100 m from previous hole V-23-047. Hole V-23-056 averages 2.07 g/t Au over 212.4 m downhole from surface, within a broader mineralized interval of 1.45 g/t Au over 372.9 m, demonstrating strong grade continuity between previous widely spaced holes with significant >2 g/t Au intervals that also begin at surface. Assays for more than 8,300 m of diamond drilling from Snowline’s 2023 exploration efforts remain pending.

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

“The latest results from our Rogue Project’s Valley target further de-risk the discovery, adding to the known footprint of near-surface gold mineralization and demonstrating strong consistency of higher (>2 g/t Au) gold grades,” said Scott Berdahl, CEO & Director of Snowline. “Intervals of hundreds of metres averaging >1 g/t Au or even multiple grams per tonne gold have not only become the norm at Valley but are without exception among 32 holes drilled to date within a core area spanning up to 600 m by up to 400 m in the western part of the intrusion. This consistency results in higher efficiency and reduced risk in exploration, as well as in subsequent deposit modelling, in project development, and ultimately in responsibly and cost-effectively producing gold. We eagerly await assay results for 12 additional holes drilled in and around this zone at Valley, along with additional holes and surface work from other parts of our >330,000 ha land position.”

HOLE V-23-056

Hole V-23-056 is collared in coarse-grained granodiorite within the Valley intrusion roughly 59 m east of 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) and 44 m west of V-23-036 (414.5 m @ 1.53 g/t Au from surface including 143.5 m @ 2.92 g/t Au, see Snowline news release dated July 18, 2023).

The hole commences in strong sheeted gold-bearing quartz vein mineralization from bedrock surface at 2.6 m downhole, averaging 2.07 g/t Au across the next 212.4 m. This marks the top of a broader 372.9 m downhole interval averaging 1.45 g/t Au overall. The highest sustained grades in the hole begin at 52.5 m downhole, averaging 3.50 g/t Au over the following 42.5 m. The hole exits the intrusion into weakly mineralized hornfels at 376.7 m downhole, marking the end of the consistently mineralized interval.

Figure 2 – Cross-section B, showing V-23-056 in the context of adjacent holes and a simplified, schematic geological model. Top: Analytical results received to date and still pending (thin black lines with blue collars). Bottom: Vein densities alongside instances of trace visible gold observed during logging. V-23-056 carries strong gold grades from surface to greater depths than expected based on adjacent hole V-22-014. Note that V-22-014 and V-23-036 are respectively behind and in front of the section, and thus they appear closer to V-23-056 in the section view than they are (see Figure 1). The high vein densities and visible gold count in V-23-067 suggest the near-surface system is still open to the east.

The consistency of mineralization in V-23-056 is highlighted by its capped values (Table 2), which—setting any >10 g/t Au assays equal to 10 g/t Au—remain unchanged. The highest assay value ran 9.35 g/t Au over 1.5 m from 87.0 m downhole. Consistency is further highlighted by the distribution of grades. Within the top 212.4 m interval, 77% of assays (measured by core length) returned >1 g/t Au and no assays returned <0.2 g/t Au. Within the higher-grade zone averaging 3.50 g/t Au over 42.5 m, all assays returned >1.3 g/t Au.

The results of V-23-056 demonstrate the integrity and spatial continuity of >2 g/t Au, near-surface mineralization towards the southeastern part of the Valley gold system.

HOLE V-23-055

Hole V-23-055 is collared in coarse-grained granodiorite of the Valley stock, roughly 101 m across strike from and along section with the nearest hole, V-23-047 (228.6 m @ 1.62 g/t Au from surface including 100.5 m @ 2.56 g/t Au, see Snowline news release dated September 11, 2023).

The hole encountered strong sheeted gold-bearing quartz vein mineralization from bedrock surface at 3.1 m downhole. The main interval of mineralization within the hole averages 1.34 g/t Au over 359.4 m from bedrock surface, with a higher-grade zone averaging 1.71 g/t Au over 132.5 m from 89.0 m downhole. The hole exits the intrusion at 352.1 m, and lower grade mineralization continues into the surrounding hornfels (averaging 0.16 g/t Au across 23.0 m from 369.0 m downhole, and the hole ends with the final 1.0 m @ 0.30 g/t Au).

As with V-23-056, gold grades in V-23-055 are not affected by grade capping at 10 g/t Au, demonstrating the consistent nature of mineralization across the broad mineralized interval.

The hole increases the known extent of broad, at-surface >1 g/t Au mineralization by >100 m from the nearest holes to the southwest, south and southeast, all of which carry similar or stronger gold intersections beginning from surface.

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. V-23-057 & V-23-058 were drilled well outside of the Valley intrusion to test for possible extensions of the broader intrusion-related gold system based on geological observations. *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 – Cross-section A, showing V-23-055 in the context of adjacent holes and a simplified, schematic geological model. Top: Analytical results received to date and still pending (thin black lines with blue collars). Bottom: Vein densities alongside instances of trace visible gold observed during logging. The mineralized intersection from surface extends the known limit of at-surface >1 g/t Au mineralization by >100 m from the nearest previous hole, V-23-047, and it demonstrates a strong continuity to depth, with mineralization dropping off only after the hole leaves the Valley intrusion into surrounding hornfels.

REGIONAL DRILLING

Satellite Target Drilling, Rogue Project

At Cujo, a single-hole Phase I drill program intersected a broad zone of low to moderate spatial density quartz veins with trace visible gold in a coarse-grained granodiorite. Multiple intervals of low-grade gold mineralization are present (Table 3), including 32.0 m @ 0.38 g/t Au from 90.0 m downhole and 10.0 m @ 0.42 g/t Au from 225.0 m downhole. The entire hole averaged 0.11 g/t Au over 407.4 m. The results compliment surface work demonstrating the presence of a gold-bearing reduced intrusion at Cujo. Further work will seek to determine whether consistent higher grades are present within the intrusion.

At Gracie, assays for G-23-007 have been received. This hole was drilled away from the primary anomaly, targeting mineralized dikes observed on surface. The dikes were not encountered in the drill hole, and no gold values >1 g/t Au were returned from the hole, with elevated gold results occurring as rare, isolated instances. Higher bismuth values—an important pathfinder element for Valley-like intrusion-related gold systems—are present in this hole than in any of the 6 holes previously drilled at Gracie. Analytical results for an additional 2 holes from Gracie remain pending.

Tosh Project Drilling

Analytical results have been received for two holes from a six-hole Phase I diamond drill program at the Yarrow target on Snowline’s Tosh Project, in the southwestern Yukon. This program represents the first-ever drill testing anywhere on the broader Tosh project area.

Localized, elevated gold values (0.10 to 0.46 g/t Au) were present as rare, discrete intervals in both holes, variously associated with faulting, brecciation and, in T-23-005, lenses of semi-massive sulphides in metamorphosed sedimentary host rocks. Three semi-massive sulphide zones, up to 0.2 m in thickness, carried anomalous silver (9.50 to 48.4 g/t Ag), copper (165 ppm to 0.27% Cu) and zinc (>1% detection limit) across broader downhole sample interval widths (0.7 m to 0.9 m). Dominant minerals are pyrite and pyrrhotite.

These initial results at Tosh demonstrate the presence of multiple styles of mineralization and the potential for multiple gold depositional events. Assays are pending for an additional four holes from the 2023 drill program.

Figure 4 – Map showing the location of the Tosh Project, in the southwest Yukon. Tosh covers a series of untested, kilometers-scale orogenic gold targets with geological similarities to the White Gold district roughly 100 km to the north. Resource figures shown are based on public disclosure from third parties and have not been verified by the Company.

Table 3 – Summary of mineralization returned from current holes on satellite targets and projects. “T-23-xyz” holes were drilled on the Tosh Project, whereas “CU-23-xyz”and “G-23-xyz” holes were drilled on the Cujo and Gracie targets respectively, both on the Rogue Project. Various lesser intervals are present but not listed. Coordinates are presented in NAD83 Zone 7 for the Tosh project (T-23-001 and T-23-005) and in NAD83 Zone 9 for the Gracie and Reid targets. **Interval widths reported; true widths of the systems are not yet known.

QA/QC

On receipt from the drill site NQ2-sized drill core was systematically logged for geological attributes, photographed and sampled at Snowline’s 2023 field 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.

Similar procedures were employed on the Tosh Project, though drill core was transported to Whitehorse in advance of detailed logging and sampling.

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, mineralized intervals are defined as runs of mineralization with no break >5.0 m assaying <0.1 g/t Au, including any subsections thereof.

ABOUT ROGUE

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

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

Figure 5 – Project location map for Snowline Gold’s eastern Selwyn Basin properties: Rogue, Einarson, Ursa, Cynthia and Olympus. The Valley target is one of several prospective reduced intrusion-related gold 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 relationship between vein densities, visible gold and resultant analytical gold grades, cost-effective production of gold, the discovery potential within the Valley intrusion, the potential for investors to participate in multiple future discoveries, the Rogue project having district-scale prospectivity, the creation of a new gold district and the Company’s future plans and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

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

• Hole V-23-054 returned 424.0 m averaging 1.43 g/t Au from surface, including 1.85 g/t Au over 186.5 m, expanding the known width of mineralization across the southern extent of the Valley target and opening another area of deep mineralization
• Hole V-23-053 returned 387.0 m averaging 1.04 g/t Au including 1.61 g/t Au over 153.0 m showing strong grade continuity on western edge of system
• Analytical results pending for more than half of 2023 drilling (>11,400 m remain, from 31 holes across 5 targets) in addition to those of extensive surface exploration campaign.

Vancouver, B.C., October 19, 2023: SNOWLINE GOLD CORP (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce analytical results received from two additional exploration holes drilled on its Rogue Project’s Valley target in Canada’s Yukon Territory. Both holes—drilled to the northeast as opposed to the usual southwest orientation of holes at Valley—demonstrated consistent and considerable widths of strong mineralization in different parts of the system. Hole V-23-054 returned 424.0 m of 1.43 g/t Au, downhole from bedrock surface, expanding the known width of mineralization across the southern extent of the well mineralized zone at Valley. In a separate interval in the same hole, the final 30.0 m downhole length averaged 0.70 g/t Au, representing a newly recognized area of deep mineralization at Valley that remains open. Both holes ended in mineralization. Assays for more than 11,400 m of diamond drilling from Snowline’s 2023 exploration efforts remain pending.

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

“The current set of drill results includes yet another hole, in yet another part of the Valley intrusion, that expands the extent of known mineralization with an unusually high-grade intersection for a reduced intrusion-related gold system carried over hundreds of metres from surface,” said Scott Berdahl, CEO & Director of Snowline. “We weren’t expecting the length and intensity of gold mineralization encountered in V-23-054, nor to see it extend to depth in the southeastern part of the system, revealing a potential new zone of mineralization. Once again we are impressed by the scale and continuity of our Rogue Project’s Valley target, which remains open in multiple areas. We are keen to see how our understanding of the system evolves with the large quantity of drill assays that are forthcoming for the target.”

Figure 1 – Plan view of the Rogue Project’s Valley target showing analytical results from previous and current drilling, along with approximate traces of current holes. Current results expand the already wide distribution of unusually high grades for a reduced intrusion-related gold system at Valley, with mineralized intervals beginning at or near surface. Note the consistency of grades within holes and between holes across a large area. The system remains open to the northeast and at depth in multiple locations.

HOLE V-23-054

Hole V-23-054 is collared in coarse-grained granodiorite within the Valley intrusion as an 84 m step along strike to the southeast of the nearest hole, V-22-028 (363.5 m @ 1.40 g/t Au from surface including 129.9 m @ 2.03 g/t Au, see Snowline news release dated February 3, 2023). The hole is drilled to the northeast to efficiently test the near-surface southwestern margin of the Valley intrusion, and it tests the northeastern part of the mineralized corridor at depth in an orientation that crosscuts the dominant northwest strike of sheeted quartz veins.

From bedrock surface at 23.5 m downhole, an interval of continuous mineralization averages 1.43 g/t Au over the next 424.0 m, with a zone of generally higher grades averaging 1.85 g/t Au over 186.5 m from 66.0 m downhole. Two notable higher-grade zones average 4.73 and 4.79 g/t Au over 7.5 m and 9.0 m respectively, from 202.0 and 305.5 m downhole. A second mineralized interval begins 9.0 m downhole from the end of the first and continues to the end of the hole at 497.0 m depth, averaging 0.54 g/t Au over 40.5 m (Table 2) and ending in mineralization. The final 30 m of the hole average 0.70 g/t Au. As with previous holes at Valley, mineralization within these intervals is remarkably consistent. Capping values at 10 g/t Au drops the overall grade of the first interval by just 0.73% from 1.43 g/t Au to 1.42 g/t Au, and does not affect the grade of the second interval.

The results of V-23-054 demonstrate a robust width to strong grades in the southeastern part of the well-mineralized, near-surface corridor at Valley. In addition, the mineralization and grades seen in the bottom of the first interval and through the second interval reveal a new and open zone within the Valley intrusion where strong, consistent gold grades are present at depth.

Figure 2 – Cross-section B, showing V-23-054 in the context of adjacent holes and a simplified, schematic geological model. Top: Analytical results received to date and still pending (thin black lines with blue collars). Bottom: Vein densities alongside instances of trace visible gold observed during logging. The overall width of mineralization encountered in V-23-054 and the associated depth of mineralization on the northeastern part of the section were unexpected based on previous holes. Both demonstrate considerable tonnage of mineralized rock.

HOLE V-23-053

Hole V-23-053 is collared in hornfels sedimentary rock west of the Valley intrusion and is drilled to the northeast, roughly perpendicular to the general southwest orientation of most drill holes to date at Valley. A mineralized interval begins in the hornsfels and continues to the end of the hole, averaging 0.97 g/t Au over 424.5 m from 58.5 m downhole. Grades increase when the drill trace crosses into coarse-grained granodiorite of the Valley intrusion at 80.5 m downhole, averaging 1.04 g/t Au over 387.0 m downhole, including 153.0 m at 1.61 g/t Au from 172.0 m downhole. The hole crosses into a fine-grained porphyritic phase of the intrusion at 333.0 m depth and stays in this phase to the end of hole. The hole ends in mineralization, with the final 30.0 m of the hole averaging 0.50 g/t Au.

Figure 3 – Cross-section A, showing V-23-053 in the context of adjacent holes and a simplified, schematic geological model. Top: Analytical results received to date and still pending (thin black lines with blue collars). Bottom: Vein densities alongside instances of trace visible gold observed during logging. V-23-053 shows strong gold grades within the coarse-grained granodiorite. Note that V-22-032 and in particular the bottom of V-23-050 are located in the background of the section, well behind the trace of V-23-053.

Gold grades in V-23-053 are not affected by grade capping at 10 g/t Au (highest assay is 9.62 g/t Au over 1.5 m from 412.0 m downhole), demonstrating the consistent nature of mineralization across the broad mineralized interval.

The consistent gold grades encountered in the hole suggest strong grade continuity between holes drilled in the roughly perpendicular southwest orientation. They also provide further evidence that a zone of mineralization, open to expansion, extends to depth along the western edge of the Valley intrusion, potentially as a halo around the fine-grained porphyritic phase encountered in the bottom of the hole.

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. The high results demonstrate uniform gold mineralization that is not “smeared” across a given interval by isolated high-grade samples. *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.

QA/QC

On receipt from the drill site NQ2-sized drill core was systematically logged for geological attributes, photographed and sampled at Snowline’s 2023 field 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, mineralized intervals are defined as runs of mineralization with no break >5.0 m assaying <0.1 g/t Au, including any subsections thereof.

ABOUT ROGUE

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

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

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

QUALIFIED PERSON

Information in this release has been prepared under supervision of and approved by 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 relationship between vein densities, visible gold and resultant analytical gold grades, the discovery potential within the Valley intrusion, the potential for investors to participate in multiple future discoveries, the Rogue project having district-scale prospectivity, the creation of a new gold district and the Company’s future plans and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

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

• Hole V-23-049 returned 539.4 m averaging 1.20 g/t Au from surface (entire length in mineralization), including 2.41 g/t Au over 151.5 m, confirming robust continuity and grade well below and east of mineralization in V-22-007
• Hole V-23-050 returned 423.3 m averaging 1.08 g/t Au from surface, including 1.45 g/t Au over 252.0 m along northeastern edge of system, demonstrating strong near-surface mineralization that remains open
• Drilling ongoing at Valley, with assays still pending for more than half of 2023 drilling to date (12,428+ m remain, from 31 holes across 5 targets).
  

Vancouver, B.C., October 5, 2023: SNOWLINE GOLD CORP (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce additional analytical results from its ongoing drill program at the Valley target on its Rogue Project in Canada’s Yukon Territory. All four holes, drilled into various parts of the Valley system, returned continuously mineralized intervals ranging from 82.5 (average 1.52 g/t Au) to 539.4 m (average 1.20 g/t Au) in downhole length. Initial drill results from various other targets and projects encountered anomalous gold mineralization. Analytical results for an additional 19 holes (7,862+ m) at Valley and 12 additional holes (4,397 m) on other targets are pending, with drilling ongoing.

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

“The exceptional nature of our Rogue Project’s Valley target is highlighted by the observation that holes such as V-23-049 and V-23-050, with average grades of >1 g/t Au from surface over hundreds of meters and >2 g/t Au over broad downhole distances, are proving to be commonplace and very consistent across a large geographical footprint,” said Scott Berdahl, CEO & Director of Snowline. “Notably, V-23-050 returned such intervals from what was previously considered to be the northeastern edge of Valley’s main near-surface mineralized zone, thus adding significant tonnage of known mineralized rock and demonstrating the open nature of the system in this direction. Even holes such as V-23-051, drilled at the southwestern edge of the Valley intrusion and into the surrounding hornfels, demonstrate a strong consistency of mineralization, with a result—again from surface—noteworthy in its own right. With our field program still active and the majority of our drill and surface results from 2023 still forthcoming, we look forward to rapid advancement of our target areas in the weeks and months ahead.”

Figure 1 – Plan view of the Rogue Project’s Valley target showing analytical results from previous and current drilling, along with approximate traces of current holes. Current results expand the already wide distribution of unusually high grades for a reduced intrusion-related gold system at Valley, with mineralized intervals beginning at or near surface. The system remains open to the northeast and at depth.

HOLE V-23-049

Hole V-23-049 is collared within the Valley intrusion as a 71 m step back along section and perpendicular to the dominant trend of mineralization from V-22-007 (410.0 m @ 1.89 g/t Au from surface including 146.0 m @ 3.24 g/t Au, see Snowline news release dated November 15, 2022). The hole is collared in coarse-grained granodiorite and crosses several small (meter-scale) porphyritic dikes before encountering a larger porphyritic body from roughly 365-420 m downhole depth. The hole ends in coarse-grained granodiorite with low quartz vein densities and generally low grades.

The mineralized interval in V-23-049 spans the entire hole, averaging 1.20 g/t Au over 539.4 m downhole from bedrock surface at 6.3 m, including a 151.5 m downhole run from 142.0 m depth averaging 2.41 g/t Au, with a 10.5 m hotspot of 4.67 g/t Au from 201.5 m downhole. As with previous holes at Valley, mineralization is remarkably consistent. Capping assays at 10 g/t Au results in an average grade of 1.16 g/t Au, only a 3.1% reduction in overall grade (Table 2).

The hole shows a robust continuity of grade extending northeast of and below V-22-007. The drill trace cuts roughly halfway between those of V-22-007 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), and yet gold grades are higher than would be expected from a linear gradient between the two holes, demonstrating a larger volume of well-mineralized rock.

Figure 2 – Cross-section A, showing V-23-049 and V-23-052 in the context of surrounding holes and a simplified geological model. Top: Analytical results received to date and still pending (thin black lines with blue collars). Bottom: Vein densities alongside instances of trace visible gold observed during logging. V-23-049 demonstrates that strong mineralization seen in V-22-007 continues to depth well below that hole and to the east towards V-22-015.

HOLE V-23-050

Hole V-23-050 is collared within the Valley intrusion as a 66 m step-out along strike to the northwest of V-22-029 (558.7 m @ 1.26 g/t Au including 202.0 m @ 2.04 g/t Au, see Snowline news release dated February 24, 2023) and V-22-033 (313.0 m @ 0.86 g/t Au including 121.9 m @ 1.33 g/t Au, see Snowline news release dated December 22, 2022). The hole is entirely within coarse-grained granodiorite, apart from a porphyritic body intersected from roughly 340-408 m downhole.

Figure 3 – Cross-section B, showing V-23-050 in the context of surrounding holes and a simplified geological model. Top: Analytical results received to date and still pending (thin black lines with blue collars). Bottom: Vein densities alongside instances of trace visible gold observed during logging. V-23-050 demonstrates strong, consistent mineralization at the northeastern margin of the main Valley zone that remains open. Note that due to hole deviation, the bottom of the hole is located behind the section (see Figure 1 for plan view).

The hole is mineralized from bedrock surface at 5.8 m depth through 423.3 m downhole, averaging 1.08 g/t Au. A higher-grade zone of 1.45 g/t Au over 252.0 m downhole from 93.0 m, including 4.44 g/t Au over 23.0 m from 303.0 m, demonstrates the strength of mineralization on the still open northeastern boundary of the system as it has been tested to date. Additional intervals of lower grade mineralization continue at depth within the hole.

Figure 4 – Cross-section C, showing V-23-051 in the context of surrounding holes and a simplified geological model. Top: Analytical results received to date and still pending (thin black lines with blue collars). Bottom: Vein densities alongside instances of trace visible gold observed during logging.

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. The high results demonstrate uniform gold mineralization that is not “smeared” across a given interval by isolated high-grade samples. *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

Valley Target Drilling, Rogue Project

The expanded 2023 drill program at the Rogue Project’s Valley discovery is ongoing. To date, >15,000 m has been drilled on the Valley target in 2023, with 36 holes completed and an additional larger diameter (85 mm PQ, versus 51 mm NQ2 used elsewhere) drill hole in progress for advanced metallurgical and rock property testing. A majority of drill results for the 2023 drill program at Valley are still to come, with results pending for 19 holes (8,031+ m).

Satellite Target Drilling, Rogue Project

At Reid, a single hole Phase I program intersected a poly-phase intrusive system, with a coarse-grained granodiorite phase, and a fine-grained porphyritic phase occurring as dikes outside of the main intrusion. Moderate to low vein densities yielded a mineralized downhole interval of 174.5 m averaging 0.27 g/t Au, from 303.5 m.

Phase II drilling at Gracie encountered sedimentary rocks with varying degrees of hornfels alteration, indicating proximity to an intrusion, and low-density sheeted quartz veins bearing rare instances of trace visible gold. Assays for G-23-006, which was aborted due to pad stability issues short of reaching its target, returned localized intervals of anomalous gold mineralization (Table 3). Analytical results for an additional 3 holes from Gracie, and a single hole Phase I program at Cujo are pending.

Cliff Project Drilling

Analytical results have been received for the first three drill holes of a 5-hole Phase I program at the Cliff Project. Gold bearing quartz veins were encountered in all three holes, with localized results of up to 6.64 g/t Au over 1.9 m drilled width (true width unknown). A summary of drill highlights at Cliff is found in Table 3.

Table 3 – Summary of mineralization returned from current holes on satellite targets and projects. “CL-23-xyz” holes were drilled on the Cliff Project, whereas “G-23-xyz”and “LM-23-xyz” holes were drilled on the Gracie and Reid targets respectively, both on the Rogue Project. Various lesser intervals are present but not listed. Coordinates are presented in NAD83 Zone 8 for the Cliff target (CL-23-001 through CL-23-003) and in NAD83 Zone 9 for the Gracie and Reid targets. **Interval widths reported; true widths of the systems are not yet known.

QA/QC

On receipt from the drill site, Valley, Gracie and Reid’s NQ2-sized drill core was systematically logged for geological attributes, photographed and sampled at Snowline’s 2023 field 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.

Similar procedures were employed on the Cliff Project, though drill core was transported to Whitehorse in advance of detailed logging and sampling.

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, mineralized intervals are defined as runs of mineralization with no break >5.0 m assaying <0.1 g/t Au, or continuous subsections thereof.

ABOUT ROGUE

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

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

Figure 5 – Project location map for Snowline Gold’s eastern Selwyn Basin properties: Rogue, Einarson, Ursa, Cynthia and Olympus. The current work program at Rogue is based out of the Company’s Forks Camp.

QUALIFIED PERSON

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

ON BEHALF OF THE BOARD

Scott Berdahl
CEO & Director

For further information, please contact:

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

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

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

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

• Hole V-23-048 returned 2.20 g/t Au over 265.2 m including 3.28 g/t Au over 100.2 m from surface (with the top 30.2 m averaging 5.03 g/t Au) in a 100 m step across strike to SW from previous hole V-23-039
• Hole V-23-045 returned 1.14 g/t Au over 517.9 m from surface in 102 m step across strike to NE from previous hole V-23-037, adding significant scale that remains open
•  Multiple additional holes at Rogue Project’s Valley target demonstrate large intervals of strong mineralization outside the edges of previously known mineralization.

Vancouver, B.C., September 11, 2023: SNOWLINE GOLD CORP (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce additional analytical results from its ongoing drill program at the Valley target on its Rogue Project in Canada’s Yukon Territory. All ten holes encountered mineralization, with the nine holes drilled inside the intrusion returning continuous mineralization over downhole intervals ranging from 143.2 m to 517.9 m in length. Holes V-23-045 and V-23-048 returned 517.9 m of 1.14 g/t Au and 265.2 m of 2.20 g/t Au respectively, from surface. This expands the width of the high-grade, near surface core seen in previous holes, while V-23-045 also extends the depth of known mineralization in the east. Other holes add substantial volumes of known mineralization to the margins of the system as currently tested. Analytical results for an additional 19 holes (7,116 m) at Valley are pending, with drilling at Valley and other Rogue Project targets ongoing.

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

“This latest round of results from our Rogue Project’s Valley target demonstrates high continuity of mineralization in three dimensions and adds considerable scale to the extent of the known system, which remains open,” said Scott Berdahl, CEO & Director of Snowline. “These holes primarily tested undefined margins of the well-mineralized corridor within the Valley intrusion. That they returned such strong grades—with holes running at multiples of the 0.64 g/t Au and 0.37 g/t Au average reserve grades seen at the nearest operating mines of this type, across hundreds of metres—speaks to the unique nature of the Valley discovery amongst reduced intrusion-related gold systems and among bulk tonnage gold systems in general. With two rigs currently active on the target and one more on the nearby Gracie target, we look forward to learning much more about these targets in the coming months.”

Figure 1 – Cross-section A, highlighting noteworthy continuity of strong, near-surface gold grades encountered at Valley. Holes V-23-045 and V-23-048 bookend analytical results received to date on this section with long intervals of robust mineralization. Hole V-23-045 is the northeastern-most hole drilled into the well-mineralized, near-surface corridor at Valley, demonstrating a >400 m width to the system that remains open. The hole also shows a continuity of mineralization to vertical depths of over 400 m below surface. Blank drill traces show where results are still pending. Note that V-22-035 sits in the foreground of the section—V-23-045 and 048 are herein plotted without interruption to highlight the recent results.

Figure 2 – Plan view of the Rogue Project’s Valley target showing analytical results from previous and current drilling, along with approximate traces of current holes. Current results, drilled primarily as step-outs from previous highlight holes, demonstrate the scale and the wide distribution of unusually high grades for a reduced intrusion-related gold system at Valley, with most intervals beginning at or near surface. The system remains open to the north and at depth, with more than 7,100 m of assays from Valley still pending and two drill rigs active on the target.

HOLE V-23-045

Hole V-23-045 is collared within the Valley intrusion as a 100 m step back along section from V-23-037 (383.3 m @ 2.47 g/t Au from surface including 120.0 m @ 4.06 g/t, see Snowline news release dated August 3, 2023). This step direction is perpendicular to the dominant trend of mineralization, which strikes northwest-southeast. Thus the results add to the previously known width of the system, which remains open. The hole is collared 67 m from the nearest hole, V-22-029 (558.7 g/t Au @ 1.26 g/t Au, see Snowline news release dated February 24, 2023). The hole ends in patchy lower grade mineralization and fault gauge within a fine-grained, porphyritic phase of the granodiorite (Figure 1).

The hole encountered a continuous zone of quartz vein mineralization in granodiorite over 517.9 m downhole from bedrock surface at 3.1 m, averaging 1.14 g/t Au along this length and showing a high degree of continuity. Within this zone, a 125.5 m downhole interval beginning at 196.5 m averages 1.75 g/t Au. Another interval of 16.5 m downhole beginning at 406.0 m depth averages 5.07 g/t Au. Instances of trace visible gold were noted in quartz veins throughout the length of the hole. Capping grades at 10.0 g/t Au reduces the average grade of mineralization within the broader interval only 2.4% to 1.11 g/t Au.

V-23-045 is the northeastern-most hole testing Valley’s well-mineralized corridor to date, and it extends the envelope of known >1 g/t Au mineralization considerably in this direction, where it still remains open. The hole also carries mineralization to depth, further expanding the known vertical footprint and highlighting the vertical exploration potential within the Valley intrusion.

HOLE V-23-048

Hole V-23-048 is collared within the Valley intrusion as a 95 m step along section to the southwest of V-23-039 (553.8 m @ 2.48 g/t Au, Snowline news release dated August 3, 2023). The hole is collared 72 m south of the nearest hole, V-22-010 (318.8 m @ 2.55 g/t Au including 108.0 m @ 4.14 g/t Au from surface, see Snowline news release dated October 12, 2022).

Mineralization within V-23-048 is robust and consistent, averaging 2.20 g/t Au over 256.2 m, including a higher-grade zone averaging 3.28 g/t Au over 100.2 m from bedrock surface at 8.8 m downhole. The top 30.2 m of the hole, measured downhole from bedrock surface, averages 5.03 g/t Au. As with many other holes at Valley, this grade profile sees the highest grades of the system beginning at surface. Despite the high grades, only one assay exceeded 10 g/t Au (10.1 g/t Au over 1.0 m from 23.0 m downhole). Grade capping at 10.0 g/t thus has virtually no effect on results. As with other holes seen at Valley, this underscores the remarkable grade continuity within the system.

The hole crosscuts abundant sheeted quartz veins within the intrusion, in places carrying trace amounts of visible gold within the veins. It exits the intrusion into lightly mineralized hornfels and a series of 1-2 m wide dikes at 255.9 m downhole.

Figure 3 – Cross-section A, showing quartz vein density per metre and instances of trace visible gold observed during logging. Together, vein density and frequency of trace visible gold have shown to serve as a general indicator of grade potential at Valley. Note that in a sheeted quartz vein array like those present at Valley, the angle of veins to core can affect apparent density per metre. Density/visible gold data for V-23-061 not yet available at time of writing, though a select run is shown in Figure 5. This figure complements Figure 1 of this release.

Figure 4 – Cross-section B, showing V-23-047 in the context of surrounding holes and a simplified geological model. Top: Analytical results received to date and still pending (thin black lines). Bottom: Vein densities alongside instances of trace visible gold observed during logging. V-23-047 demonstrates that mineralization seen in V-22-032 continues to surface, with strongest grades near the top of the hole.

Table 2 – Summary of mineralization observed in current holes. The consistency of strong mineralization 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. The high results demonstrate uniform gold mineralization that is not “smeared” across a given interval by isolated high-grade samples. *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 5 – High quartz vein density observed in V-23-061, from 129.3 m to 160.0 m downhole in a composite photo. Orange flagging tape marks instances of trace visible gold observed during logging. Multiple generations of veins can be seen cutting the core at different orientations. NQ2 sized drill core shown is 5.1 cm in diameter. The above vein densities are not representative of the entire hole. Assays are pending for this section and the remainder of the hole.

EXPLORATION UPDATES

Valley Target Drilling, Rogue Project

The 10,000+ m drill program at the Rogue Project’s Valley discovery is ongoing, with two drill rigs active on site. To date, >13,000 m has been drilled on the Valley target in 2023, with 29 holes completed and an additional 2 holes in progress. This represents more drilling at Valley than the sum of all previous drilling on the target to date. Analytical results for 19 holes drilled at Valley in 2023 are pending. The Company intends to continue drilling at Valley until the end of the exploration season in early October.

Satellite Target Drilling, Rogue Project

Phase II drilling is ongoing at the Rogue Project’s Gracie target, with three holes completed in 2023 and a fourth hole, G-23-009, in progress. At present, >1,800 m has been drilled at Gracie this season. Drilling at Gracie has encountered sedimentary rocks with varying degrees of hornfels alteration, indicating proximity to an intrusion, and low-density sheeted quartz veins bearing rare instances of trace visible gold. The goal of the Phase II drill program is to intersection a causative intrusion for the widespread alteration and mineralization observed in the Gracie target area.

At Reid, as previously described, LM-23-001 intersected a poly-phase intrusive system, with a coarse-grained granodiorite phase and a fine-grained porphyritic phase, and moderate to low vein densities. The hole was called at 623 m depth in coarse-grained granodiorite with low vein densities. A total of 15 instances of trace visible gold were observed in the hole.

A short Phase I drill program was completed at the Cujo target, located roughly 30 km west of Valley. CU-23-001 was drilled to 421 m in an exposure of a granodiorite intrusion with anomalous gold geochemistry. The hole intersected low to moderate densities of sheeted quartz veins. Nine instances of trace visible gold were observed during logging. A second hole, CU-23-002 was initiated but was abandoned due to concerns about pad stability on subsurface ice, and the rig was returned to Valley.

Results are pending for Rogue satellite target drilling.

Southwest Yukon Drilling

At the Tosh Property, the Company recently completed an expanded 6 hole, 1,719 m Phase I program focused on the “Yarrow” gold-silver target, a zone of anomalous soils and rock grab samples associated with mineralized breccias. This program is the first ever drill testing of the Tosh Property.

QA/QC

On receipt from the drill site, Valley’s NQ2-sized drill core was systematically logged for geological attributes, photographed and sampled at Snowline’s 2023 field 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).

All standard reference materials and blanks inserted into the sample streams for the two holes returned values within acceptable limits.

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

ABOUT ROGUE

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

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

Figure 6 – Project location map for Snowline Gold’s eastern Selwyn Basin properties: Rogue, Einarson, Ursa, Cynthia and Olympus. The current work program at Rogue is based out of the Company’s Forks Camp.

QUALIFIED PERSON

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

The 0.64 g/t Au and 0.37 g/t Au average reserve grades at the nearest producing mines referenced in the quotation refer to published reserve grades from Victoria Gold’s Eagle Mine (0.64 g/t Au, as per their 2023 technical report on the Eagle Project), and Kinross’s Fort Knox Mine (0.37 g/t Au, as per their 2018 technical report on the Fort Knox Project). These numbers have not been independently verified by the author.

ON BEHALF OF THE BOARD

Scott Berdahl
CEO & Director

For further information, please contact:

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

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

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

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

Vancouver, B.C. – September 6, 2023 – Snowline Gold Corp. (TSX-V: SGD) (OTCQB: SNWGF) (the “Company” or “Snowline”) is pleased to announce that it has completed its previously announced “bought deal” private placement of 2,200,000 flow-through common shares of the Company (the “FT Shares”) at a price of C$7.50 per FT Share for aggregate gross proceeds of C$16.5 million (the “Offering”), including C$1.5 million from the exercise of the underwriters’ option. Each FT Share will qualify as a “flow-through share” (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”). Existing shareholder B2Gold Corp. (TSX: BTO, NYSE American: BTG, NSX: B2G) (“B2Gold”) participated in the financing to maintain their 9.9% interest in the Company.

“We are encouraged by the strong support shown for this financing, both from existing shareholders including B2Gold and from a number of new, high-quality institutional shareholders,” said Scott Berdahl, CEO & Director of Snowline. “Our strengthened treasury allows us to advance exploration on the Rogue Project’s Valley discovery and on other targets and generative programs across our highly prospective gold portfolio. The funds provide certainty, and they open the door to greater flexibility as we move forward.”

The Company will use an amount equal to the gross proceeds received by the Company from the sale of the FT Shares to incur eligible “Canadian exploration expenses” that qualify as “flow-through mining expenditures” as both terms are defined in the Tax Act (the “Qualifying Expenditures”) related to the Company’s projects in the Yukon Territory, on or before December 31, 2024, and to renounce all the Qualifying Expenditures in favour of the subscribers of the FT Shares effective December 31, 2023.

The Offering was made through a syndicate of underwriters led by Cormark Securities Inc. and including SCP Resource Finance LP (collectively, the “Underwriters”). The Underwriters received a cash commission equal to 5% of the gross proceeds of the Offering (other than on certain orders on which a cash commission of 2.5% was paid).

All securities issued in connection with the Offering are subject to a hold period of four months and one day from the closing of the Offering, in accordance with applicable Canadian securities laws, expiring on January 7, 2024.

The securities issued under the Offering have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and were not to be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.

ABOUT SNOWLINE GOLD CORP.

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

ON BEHALF OF THE BOARD

Scott Berdahl, MSc, MBA, PGeo
CEO & Director

For further information, please contact:

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

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

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including statements regarding the anticipated use of proceeds from the Offering, the Company’s strengthened treasury allowing it to advance exploration on the Rogue Project’s Valley discovery and on other targets and generative programs, the funds providing certainty and opening the door to greater flexibility, and the Company’s future plans and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof. Forward-looking statements involve significant risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Such factors include, among other things, risks associated with executing the Company’s plans and intentions. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

Vancouver, B.C., September 1, 2023: SNOWLINE GOLD CORP. (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce that it has filed on SEDAR+ an independent technical report (the “Technical Report”) entitled “NI 43-101 Technical Report on the Rogue Gold Project, Yukon Canada, Mayo Mining District” and dated June 13, 2023, with an effective date of May 15, 2023. The Technical Report was prepared by Jean Pautler, P.Geo., a consulting geologist.

The purpose of the Technical Report is to support scientific and technical information that relates to the Company’s Rogue Project. There are no material differences in the Technical Report from the information disclosed in the Company’s May 2, 2023 news release. The Technical Report is available under the Company’s profile at www.sedarplus.ca and on its website at www.snowlinegold.com.

ABOUT ROGUE

The Valley target on Snowline’s flagship Rogue Project is a newly discovered, bulk tonnage style, reduced intrusion-related gold system (RIRGS), with geological similarities to multi-million-ounce deposits currently in production such as Kinross’s Fort Knox Mine in Alaska and Victoria Gold’s Eagle Mine in the Yukon. Early drill results demonstrate unusually high gold grades for such a system, present near surface across drill intersections of hundreds of metres over a wide area. Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays within and along the margins of a one-kilometer-scale, mid-Cretaceous aged Mayo-suite intrusion. Valley is an early-stage exploration target 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 an eight-project portfolio covering >333,000 ha. The Company is exploring its flagship >94,000 ha Rogue gold project in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’ Fort Knox mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. The Company’s first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

QUALIFIED PERSON

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

TSX-V DISCLAIMER

Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

ON BEHALF OF THE BOARD

Scott Berdahl
CEO & Director

For further information, please contact:

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

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

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

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

Vancouver, B.C. – August 15, 2023 – Snowline Gold Corp. (TSX-V: SGD) (OTCQB: SNWGF) (“Snowline” or the “Company”) is pleased to announce that it has entered into an agreement pursuant to which Cormark Securities Inc., as lead underwriter, on behalf of a syndicate of underwriters (collectively, the “Underwriters”), has agreed to purchase, on a “bought deal” private placement basis, 2,000,000 “flow-through” shares of the Company (the “Charity FT Share”) at a price of $7.50 per Charity FT Share (“Offering Price”) for gross proceeds of $15,000,000 (the “Offering”). Each Charity FT Share will qualify as a “flow-through share” (within the meaning of subsection 66(15) of the Income Tax Act (Canada)).

“We are pleased to see the increased interest in our Rogue Project following our initial results from the ongoing 2023 exploration season,” said Scott Berdahl, CEO & Director of Snowline. “This raise, which brings in funds at a significant premium to market, enhances our team’s ability to systematically explore our Valley discovery, the broader Rogue Project, and additional targets on our extensive Yukon-focused exploration portfolio. Combined with our current treasury, we are well positioned to focus on building value through discovery for multiple drill seasons.”

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

The Company will use an amount equal to the gross proceeds received by the Company from the sale of the Charity FT Shares, pursuant to the provisions in the Income Tax Act (Canada), to incur eligible “Canadian exploration expenses” that qualify as “flow-through mining expenditures” as both terms are defined in the Income Tax Act (Canada) (the “Qualifying Expenditures”) related to the Company’s projects in the Yukon Territory, on or before December 31, 2024, and to renounce all the Qualifying Expenditures in favour of the subscribers of the Charity FT Shares effective December 31, 2023.

The Offering is expected to close on or about September 6, 2023, or such other date as the Company and the Underwriters may agree and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the acceptance of the TSX Venture Exchange.

The securities offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities law, and may not be offered, sold or delivered, directly or indirectly, within the United States, or to or for the account or benefit of U.S. persons, absent registration or an exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful.

ABOUT SNOWLINE GOLD CORP.

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

ON BEHALF OF THE BOARD

Scott Berdahl, MSc, MBA, PGeo
CEO & Director

For further information, please contact:

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

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

Cautionary and Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that implies predictions, expectations, interpretations, opinions, plans, projections, objectives, assumptions, future events or performance (often using words such as “expects” or “does not expect”, “is expected”, “interpreted”, “in management’s opinion”, “anticipates”, or “plans”, “budget”, “schedule”, “forecasts” including negative and grammatical variations thereof, statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved) is not a statement of historical fact and may constitute forward-looking information and is intended to identify forward-looking information. This news release may contain forward-looking information relating to, among other things, the terms of the Offering; the use of proceeds of the Offering; the timing and ability of the Company to close the Offering; the timing and ability of the Company to receive necessary regulatory and other approvals, including the acceptance of the Offering by the TSX Venture Exchange; the ability of the Company to incur in full or at all “Canadian exploration expenses” that qualify as “flow-through mining expenditures” and the renunciation thereof to the purchasers of the Charity FT Shares and timing thereof; the tax treatment of the Charity FT Shares. These factors include, but are not limited to, risks associated with the ability of exploration activities (including drilling results) to accurately predict mineralization; the Company’s ability to obtain required approvals; the results of exploration activities; risks associated with mining operations; global economic conditions; metal prices; dilution; environmental risks; and community and non-governmental actions and general economic conditions. Although the forward-looking information contained in this news release is based on assumptions that management believes are reasonable at the time of release, Snowline Gold Corp. cannot provide any assurance that actual results will be consistent with the forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Snowline Gold Corp. nor any other person assumes responsibility for the accuracy or completeness of forward-looking information. All statements made, other than statements of historical fact, that address the Company’s intentions and the events and developments that the Company anticipates, are considered forward-looking statements. Although the Company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ from those in the forward-looking statements.

• Hole V-23-039 returned 2.48 g/t Au over 553.8 m from surface including 4.98 g/t Au over 132.0 m from 6.0 m downhole demonstrating strong mineralization at surface and at depth near the western boundary of the Valley intrusion
• Hole V-23-037 returned 2.47 g/t Au over 383.8 m from surface including 4.06 g/t Au over 120.0 m from a collar location roughly 115 m across strike from V-23-039
• Results confirm and improve upon strong grade and continuity of well mineralized, near-surface corridor on the Rogue Project’s Valley target, while identifying a new zone of >2 g/t Au mineralization at depth along the western margin of the intrusion.

Vancouver, B.C., August 3, 2023: SNOWLINE GOLD CORP. (TSX-V: SGD) (OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce additional analytical results from its ongoing drill program at the Valley target on its Rogue Project in Canada’s Yukon Territory. Holes V-23-039 and V-23-037 returned the two strongest gold intersections from the project to date, demonstrating the presence of a high-grade, near-surface core to the gold system at Valley. Hole V-23-039 averages 2.47 g/t Au over 553.8 m from bedrock surface, including two distinct zones with multiple-gram-per-tonne gold mineralization, with a strong run of continuous mineralization at depth averaging 2.02 g/t Au over 233.0 m from 287.0 m downhole. Analytical results for an additional 19 holes (7,116 m) at Valley are pending, with drilling at Valley and other Rogue Project targets ongoing.

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

“Drill hole V-23-039 is the best drill hole reported at the Rogue Project’s Valley target to date, and it ranks among the best drill holes ever drilled for gold in the Yukon. Along with V-23-037—which would have otherwise been the target’s best hole—it confirms and builds upon the strong continuity and grade of the Valley gold discovery across significant distances beginning at surface. The grades are exceptional for a reduced intrusion-related gold system, where resource grades for most known deposits are well below 1 g/t Au. With high gold recoveries from non-refractory metallurgy, a conducive geometry for a low strip ratio, and its location in a favourable mining jurisdiction, the Valley target is emerging as one of the recent gold discoveries on a global scale. Drilling is ongoing at Valley and on other potentially similar gold targets elsewhere on our 100%-owned, 94,000 ha Rogue Project.”

Figure 1 – Cross-section A, highlighting remarkable continuity of strong, near-surface gold grades encountered at Valley. Top: Analytical results received to date and still pending (thin black lines). Bottom: Vein densities alongside instances of visible gold observed during logging. Note that V-22-034 and 035 actually sit in the foreground of the section—V-23-037 and 039 are herein plotted without interruption to highlight the recent results. Two phases of the Valley intrusion are shown, along with fault traces.

Figure 2 – Plan view of the Rogue Project’s Valley target showing analytical results from previous and current drilling, along with approximate traces of current holes. The high level of consistency of mineralization can be seen in the distribution of assay values down holes. Hole V-23-039 returned a similar length mineralized intersection from surface to that of  V-22-029—a downhole length roughly equivalent to the height of Toronto’s CN Tower—but at double the grade.  Results from the Valley target consistently carry unusually high grades for a reduced intrusion-related gold system.

HOLE V-23-039

Hole V-23-039 is collared within the Valley intrusion and tests a large gap within previous drilling on the near-surface, >2 g/t Au corridor discovered at Valley in 2022. The hole is roughly 64 m east of the nearest hole, V-22-010 (318.8 m @ 2.55 g/t Au including 108.0 m @ 4.14 g/t Au from surface, see Snowline news release dated October 12, 2022), and 117 m west of V-22-007 (410.0 m @ 1.89 g/t Au from surface including 146.0 m @ 3.24 g/t Au, see Snowline news release dated November 15, 2022). It is 115 m across strike and to the southwest of V-23-037 (428.0 m @ 2.47 g/t Au from surface including 120.0 m @ 4.06 g/t Au, this release).

As with previous drill holes in this zone, V-23-039 intersects abundant sheeted quartz veins in granodiorite, with multiple generations of gold-bearing quartz veins. Mineralization is continuous throughout the top 553.8 m downhole from surface, averaging 2.47 g/t Au across this length. Two zones of higher-grade mineralization are present within this interval: 4.34 g/t Au over 183.3 m from bedrock surface at 2.6 m downhole, and 2.03 g/t Au over 233.0 m from 287.0 m downhole, separated by a zone of lower grades averaging 0.83 g/t over 101.0 m from 186.0 m downhole.

The upper zone of mineralization confirms continuity of strong, near-surface mineralization encountered in earlier holes, albeit with higher overall gold grades than previously encountered at Valley. Within the top 180.0 m downhole from bedrock surface at 2.7 m, 148 out of 177 samples assayed higher than 2.0 g/t Au—representing 148.3 m (non-contiguous) or 84% of the downhole interval. Only six samples, representing 6.0 m (non-contiguous) assayed below 1 g/t Au.

The lower zone of mineralization (2.03 g/t Au over 233.0 m from 287.0 m downhole) represents a newly discovered zone of >2 g/t gold mineralization along the western margin of the Valley intrusion at depth. Quartz veins in this zone are intersected at lower angled to drill core, as has previously been seen in drilling along the western boundary of the intrusion. The hole exits the intrusion into lightly mineralized hornfels at 535.4 m downhole, but the zone itself remains open in multiple directions along the edge of the intrusion.

Table 2 – Summary of mineralization observed in current holes. The consistency of strong mineralization 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. The high results demonstrate uniform gold mineralization that is not “smeared” across a given interval by isolated high-grade samples. *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.

HOLE V-23-037

Hole V-23-037 is collared within the Valley intrusion, 115 m northeast of V-23-039 (553.8 m @ 2.48 g/t Au, this release). As with nearby hole 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) collared 34 m to the east to provide information on small-scale variance within the system, the hole intersected abundant sheeted quartz veins within the intrusion, in places carrying trace amounts of visible gold. Gold grades and distribution in the two holes is quite similar, except that in V-23-037 higher grades begin at surface, and they continue to greater downhole and vertical depths than in V-23-034. The hole ends in patchy lower grade mineralization within a fine-grained, porphyritic phase of the granodiorite (Figure 1).

Mineralization within V-23-037 is robust and consistent, averaging 2.47 g/t Au over 383.8 m from bedrock surface at 6.2 m downhole, with a higher-grade zone averaging 4.06 g/t Au over 120.0 m from 135.0 m downhole. If not for V-23-039, this hole would have been the best drilled to date within the Valley intrusion. Capping grades at 10.0 g/t Au reduces the average grade of mineralization within the broader interval only 3.1% to 2.39 g/t Au.

EXPLORATION UPDATES

Valley Target Drilling, Rogue Project

The 10,000+ m drill program at the Rogue Project’s Valley discovery is ongoing, with two drill rigs active on site. To date, >9,500 m has been drilled on the Valley target in 2023, with 22 holes completed and an additional 2 holes in progress. Analytical results for all but 5 holes drilled at Valley in 2023 are pending. The Company intends to continue drilling at Valley until the end of the exploration season in early October.

Satellite Target Drilling, Rogue Project

Phase II drilling at the Rogue Project’s Gracie target was temporarily deferred due to unstable terrain, with G-23-006 shut down at 276 m downhole depth within hornfels.

Drilling has instead commenced at the Rogue Project’s Reid target, where LM-23-001 has intersected a poly-phase intrusive system, with a coarse-grained granodiorite phase and a fine-grained porphyritic phase, and moderate to low vein densities. Five instances of trace visible gold have been observed in the hole. The Company notes that its re-analysis of historical drill core material from Reid did not replicate the highest gold values reported from historical hole AS-96-03.

Preparations are also underway for a Phase I drill program at the Rogue Project’s Cujo target.

Southwest Yukon Drilling

A phase I program of five drill holes totalling 1,283 m is complete at Snowline’s 100% owned Cliff Project, and the drill rig has been mobilized off site. Analytical results for all holes at Cliff are pending.

The same drill rig has been mobilized to the Tosh Property, where drilling has commenced on a 4+ hole, 1,200+ m Phase I program focused on the “Yarrow” gold-silver target. This is the first ever drill testing of the Tosh Property.

QA/QC

On receipt from the drill site, Valley’s NQ2-sized drill core was systematically logged for geological attributes, photographed and sampled at Snowline’s 2023 field 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) 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).

All standard reference materials and blanks inserted into the sample streams for the two holes returned values within acceptable limits.

ABOUT ROGUE

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

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

Figure 3 – Project location map for Snowline Gold’s eastern Selwyn Basin properties: Rogue, Einarson, Ursa, Cynthia and Olympus. The current work program at Rogue is based from the Company’s Forks Camp.

QUALIFIED PERSON

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

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

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

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