Category: Uncategorized

• Hole V-22-028 returned 1.40 g/t Au over 363.5 m from surface, including 2.03 g/t Au over 129.9 m and 2.15 g/t Au over 42.3 m from its Valley Zone
• Additional results extend known strike length of potentially economic gold grades along mineralized corridor to 720 m (open) and delineate gold-bearing quartz vein arrays along relatively underexplored eastern boundary of the Valley intrusion
• Assays still pending for 7 of 32 holes (3,474 m, or 26% of 13,320 m) drilled at Valley and Gracie in 2022.

Vancouver, B.C., February 3, 2023: SNOWLINE GOLD CORP. (CSE: SGD) (OTCQB: SNWGF) (the “Company” or “Snowline”) is pleased to announce additional preliminary assay results from its 2022 drilling program at the Valley Zone, Rogue Project, Yukon. Notably, hole V-22-028 intersected a zone of sheeted quartz vein mineralization within the Valley intrusion averaging 1.40 g/t Au across 363.5 m from surface, including zones of 2.03 g/t Au over 129.9 m and 2.15 g/t Au over 42.3 m, with additional mineralization at depth (Tables 1 and 2). The hole was collared 121 m from the nearest hole (V-22-014; 285.2 m @ 1.45 g/t Au) and drilled northeast, demonstrating continuity of mineralization within Valley’s near-surface mineralized corridor. Assays remain pending for 26% (3,474 m) of the 2022 Rogue drill program.

“We are continually impressed not only by the scale but by the continuity of gold mineralization at Valley,” said Scott Berdahl, CEO & Director of Snowline. “Today’s results build on earlier holes, with V-22-028 adding significant tonnage with strong gold grades. The hole demonstrates a wide breadth to the mineralized zone and grade continuity between previous holes. In addition, promising mineralization seen in V-22-019 shows potential for the near-surface higher grades to continue to the southeast, while V-22-020 shows widespread mineralization within the Valley intrusion beyond the main gold zones known to us at present. We look forward to receiving additional assays from the 2022 season as we gear up for an exciting exploration program in 2023.”

HOLE V-22-028

Hole V-22-028 was collared near the western margin of the Valley intrusion, 121 m from the collar site for V-22-014 (285.2 m @ 1.45 g/t Au including 128.2 m @ 2.48 g/t Au, see Snowline news release dated November 15, 2022), and drilled towards the northeast into the intrusion. The hole encountered abundant sheeted quartz veins with trace visible gold, returning 1.40 g/t Au over 363.5 m from bedrock surface at approximately 17.0 m depth, including higher grade intervals of 2.15 g/t Au over 42.3 m from 45.0 m and 2.03 g/t Au over 129.9 m from 141.3 m.

The hole extends the known width of near-surface, >1 gram per tonne gold mineralization at Valley, and demonstrates continuity of mineralization between previous holes V-22-014 and V-22-007 (410.0 m @ 1.89 g/t Au including 146.0 m @ 3.24 g/t Au, see Snowline news release dated November 15, 2022) along the western edge of the highest-grade zone of the Valley gold system encountered to date.

As with previous holes at Valley, gold grades are carried across broad intervals, and they are not heavily affected by local high-grade (>10 g/t Au) intersections (Table 2).

HOLE V-22-019

Hole V-22-019 was collared in the Valley intrusion as a step-out along strike of the well-mineralized corridor, roughly 178 m from previous hole V-22-026 (289.7 m @ 0.90 g/t Au including 189.2 m @ 1.25 g/t Au, see Snowline news release dated January 18, 2023). The hole encountered widespread low to moderate density of quartz veins hosting gold mineralization, with five instances of trace visible gold noted during logging. Two primary mineralized intervals returned 0.39 g/t Au over 16.0 m from 71.5 m downhole and 0.37 g/t Au over 201.5 m from 127.0 m downhole, extending the northwest-southeast strike length of potentially economic grades at Valley to 720 m. The system remains open. Given the depth of the observed intervals and the tendency elsewhere along the trend for higher grades near surface, the ground above and around this intersection is considered by the company to be highly prospective. Drilling planned for 2023 will test shallower parts of this area.

From bedrock surface at 19.9 m downhole depth to the bottom of consistent mineralization at 390.1 m downhole depth, including barren intervals within, V-22-019 averaged 0.29 g/t Au over 370.2 m.

HOLE V-22-020

Hole V-22-020 was collared in the Valley intrusion at the pad site of 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), but drilled at the opposite azimuth, towards the northeast. The hole encountered a low to moderate density of quartz veins dipping to the northeast, generally at low angles to the core axis. The top 443.5 m of the hole averaged 0.25 g/t Au from bedrock surface at 7.5 m, with generally consistent gold mineralization. As with previous hole V-22-006 (Figure 1), zones of increased grade continuity occur towards the northeastern margin of the Valley intrusion, suggesting the possibility of additional grade-controlling features in this lightly explored part of the system. The hole did not exit the intrusion by its end at 500 m downhole depth.

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 2022 field camp. Sample lengths as small as 0.5 m were used to isolate features of interest, otherwise a default 1.5 m downhole sample length was used. Core was cut in half lengthwise along a pre-determined line, with one half (same half, consistently) collected for analysis and one half stored as a record. Standard reference materials, blanks and duplicate samples were inserted by Snowline personnel at regular intervals into the sample stream. Bagged samples were sealed with security tags to ensure integrity during transport. They were delivered by expeditor and by Snowline personnel to ALS Laboratories’ preparatory facility in Whitehorse, Yukon. Sample preparation was completed at different facilities in Whitehorse, Sudbury, ON, Thunder Bay, ON and Langley, BC with analyses completed in Vancouver.

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

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

Results reported herein are considered preliminary following receipt of a low but expected percentage of abnormal assays from standard and blank samples inserted by the Company into the Valley sample stream. (Standard samples are prepared by a third-party laboratory to have known quantities of gold, and blank samples are known to contain very limited concentrations of gold.) Reanalysis of samples run along with these reference materials will provide greater certainty in the final assay numbers. These results will be reported if a material difference is identified between the current assays and the re-run sample batches. Based on the widespread and relatively consistent mineralization throughout mineralized zones, however, the Company does not believe that the re-analysis of this relatively small number of samples will have a significant impact on the preliminary mineralized intervals reported herein.

ABOUT ROGUE

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

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

ABOUT SNOWLINE GOLD CORP.

Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seventeen-project portfolio covering >280,000 ha. The Company is exploring its flagship >137,000 ha Rogue and Einarson gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’ Fort Knox mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. The Company’s first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

QUALIFIED PERSON

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

ON BEHALF OF THE BOARD

Scott Berdahl
CEO & Director

For further information, please contact:

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

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

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

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

• Hole V-22-026 returned 1.25 g/t Au over 189.2 m from surface within a broader mineralized interval averaging 0.90 g/t Au over 289.7 m in 170 m step-out
• Hole V-22-027 returned 1.01 g/t Au over 250.0 m, within a broader mineralized interval averaging 0.69 g/t Au over 481.5 m
• Results extend strike length of the mineralized core of the Valley intrusion to southeast, adding significant tonnage to known mineralization
• Metallurgical testing of Valley drill core set to advance understanding of gold recovery and project economics
• Assays still pending for 13 of 32 holes (6,003 m of 13,320 m) drilled at Valley and Gracie in 2022

Vancouver, B.C., January 18, 2023: SNOWLINE GOLD CORP. (CSE: SGD) (OTCQB: SNWGF) (the “Company” or “Snowline”) is pleased to announce additional preliminary assay results from its 2022 drilling program at the Valley Zone, Rogue Project, Yukon, and the commencement of metallurgical testing. Holes V-22-026 and V-22-027, drilled to the southeast of previously announced holes V-22-014 (285.2 m @ 1.45 g/t Au) and V-22-007 (410.0 m @ 1.89 g/t Au), extend the strike length of the near-surface, well-mineralized corridor at Valley by 172 m to at least 550 m (open). V-22-027 returned the longest mineralized intersection seen at Valley to date, with potential for higher grades immediately above this hole based on nearby results. Assays remain pending for 6,003 m of the 2022 Rogue drill program.

“Each round of Valley drill results has increased not just to the known extent of mineralization at the target, but to our understanding of its geology and the geometry of its highest-grade zones,” said Scott Berdahl, CEO & Director of Snowline. “The most robust and consistent mineralization we have seen so far at Valley begins in a broad zone at surface, lending itself to promising potential economics for the project, and reducing the drill metres required to advance the discovery. We eagerly await remaining 2022 drill assay results that will shed additional light on this substantial gold discovery. Our current metallurgical program will provide additional value in outlining gold recoverability, an important milestone as the project moves forward.”

HOLE V-22-026

Hole V-22-026 was collared within the Valley intrusion, along strike with the intrusion’s well-mineralized corridor and 172 m from the collar site for V-22-014 (285.2 m @ 1.45 g/t Au including 128.2 m @ 2.48 g/t Au, see Snowline news release dated November 15, 2022). The hole encountered moderate to dense quartz veins and abundant visible gold in its upper sections, returning 1.25 g/t Au over 189.2 m from bedrock surface at 10.8 m depth, within a broader interval returning 0.90 g/t Au over 289.7 m. The hole cut through the western margin of the intrusion and entered lightly mineralized (generally <0.1 g/t Au, with local hits up to 0.34 g/t Au over 1.5 m) hornfels at 314.8 m downhole.

The hole extends the known strike length of broad, near-surface, gram to multiple gram per tonne gold mineralization at Valley to >550 m from mineralization encountered in 2021 drilling. This zone of mineralization remains open in multiple directions.

As with previous holes at Valley, gold grades are carried across broad intervals, and they are not heavily affected by local high-grade (>10 g/t Au) intersections (Table 2).

HOLE V-22-027

Hole V-22-027 was collared in the Valley intrusion as a step back to the northeast to test the well-mineralized central corridor between holes V-22-014 and V-22-026 at depth. The hole encountered widespread light to dense quartz vein mineralization from surface bearing bismuthinite and visible gold, before exiting the western boundary of the intrusion into hornfels at 594 m downhole depth.

Analytical results for the top 551 m of 677 m total have been received at this time. Local zones of up to 1.90 g/t Au over 51.0 m (from 268.5 m downhole) were encountered, within a wide zone of moderate to strong mineralization averaging 1.01 g/t Au across 250.0 m from 102.0 m downhole. More broadly, mineralization at grades >0.1 g/t Au is nearly continuous from 11.5 m to 493.0 m downhole, averaging 0.69 g/t Au over the 481.5 m interval and making for the longest continuously mineralized intersection (no gaps >4.5 m at <0.1 g/t Au) at the bulk tonnage Valley deposit to date. Local zones of mineralization occur below this interval, and the company awaits analytical results for the final 126 m of the hole.

Results from surrounding holes, including V-22-007 and V-22-014, suggest that the trace of V-22-027 would have passed underneath the southwestern extension of the near-surface, multiple-gram-per-tonne gold zone encountered in those holes. Drilling in 2023 will test shallower parts of this area.

METALLURGICAL TESTING

Initial metallurgical testing of drill core from the Valley gold system is set to begin following shipping of sample material to a third-party lab. The metallurgy program will see 10 continuous composite samples of approximately 10 kg each—representing different parts of and different gold grades within the Valley intrusion—undergo head analysis, bottle roll tests and rougher flotation tests to establish potential gold recoveries for the system and relative suitability of certain potential means of ore processing.

Overall sulphur content of mineralization in Valley is low, typically <0.5% in well-mineralized zones. This, along with the distribution of abundant visible gold, is encouraging from a metallurgical perspective. Comparisons to gold systems with similar styles of mineralization, including Kinross’s Ft Knox Mine in Alaska and Victoria Gold’s Eagle Mine in the Yukon, provide further evidence that good recoveries and favourable metallurgy are likely at Valley. Each mineral system is unique, however, and thus for greater certainty, the Company is undertaking the present study.

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

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

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

Results reported herein are considered preliminary following receipt of a low but expected percentage of abnormal assays from standard and blank samples inserted by the Company into the Valley sample stream. (Standard samples are prepared by a third-party laboratory to have known quantities of gold, and blank samples are known to contain very limited concentrations of gold.) Reanalysis of samples run along with these reference materials will provide greater certainty in the final assay numbers. These results will be reported if a material difference is identified between the current assays and the re-run sample batches. Based on the widespread and relatively consistent mineralization throughout mineralized zones, however, the Company does not believe that the re-analysis of this relatively small number of samples will have a significant impact on the preliminary mineralized intervals reported herein.

ABOUT ROGUE

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

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

ABOUT SNOWLINE GOLD CORP.

Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seventeen-project portfolio covering >280,000 ha. The Company is exploring its flagship >137,000 ha Rogue and Einarson gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’ Fort Knox mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. The Company’s first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

QUALIFIED PERSON

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

ON BEHALF OF THE BOARD

Scott Berdahl
CEO & Director

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

---

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

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

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

Vancouver, B.C., December 29, 2022: SNOWLINE GOLD CORP. (CSE: SGD) (US OTCQB: SNWGF) (the “Company” or “Snowline”) is pleased to reflect on its trajectory over the past 12 months. With a substantial drill discovery at the Valley gold target on the Rogue Project and a $25.2 M financing completed, 2022 was a transformative year for Snowline. The Company was founded less than two years ago to explore a previously unrecognized gold district in Canada’s Yukon. Multiple drill discoveries in this short window have led to substantial value creation, while validating and underscoring the broader exploration potential of Snowline’s target rich >280,000 ha land position in the prolific Selwyn Basin.

Snowline’s top 5 highlights from 2022:

• Discovery: Drilled 318.8 m of 2.55 g/t Au from surface among other widely spaced highlight holes at Valley, revealing a substantial and unusually high-grade reduced intrusion-related gold system (RIRGS). 5,080 m of analytical results from the 2022 Valley drill campaign are still pending
  
• Community: Established a green energy partnership with Nacho Nyak Dun Development Corporation, providing Snowline’s main camp with a 27-kW solar power facility, reducing emissions, reducing costs, and building ties with First Nations and Yukon businesses
  
• Growth: Recruited a strong in-house exploration and management team, with breadth and depth of experience paralleled by few companies in the junior mining space
  
• Strength: Closed a non-brokered, $25.2 M financing, allowing Snowline to ramp up scale and pace of exploration mid-season. Snowline will enter 2023 with a treasury of $22.3 M, allowing for aggressive exploration through 2023 and beyond
  
• Performance: 311% appreciation in share price to date from January 1, 2022, ranking Snowline among the top exploration and mining companies globally for share price performance in 2022 and rewarding its discovery-focused approach. For the second straight year, SGD has seen triple digit returns (133% in 2021).

“In an otherwise difficult market, our efforts to build Snowline as a company and to rapidly advance our projects in an underexplored district demonstrate the value of discovery,” said Scott Berdahl, CEO & Director of Snowline. “Valley is unique in that at such an early stage, it ticks many of the boxes required of an economic gold discovery. It has scale, it has large zones of consistent mineralization with good gold grades, it has a favourable geometry, and its strongest grades—up to 4.1 g/t Au over 108.0 m—begin at surface. When we launched Snowline to explore an apparently unrecognized gold district, it’s exactly the sort of discovery we were hoping to make. The existence of Valley has strong positive implications for the potential of our other targets in the district, where we are just scratching the surface. As we look ahead to 2023, I would like to thank our investors, our strong shareholders, our team, and the many partners and supporters who have contributed to making Snowline a success.”

Additional exploration highlights from 2022 include:

• Construction of 50-person “Forks” camp and adjacent 1,000 m airstrip in central location between Valley and Jupiter discoveries, efficiently servicing the Company’s Rogue, Einarson, Ursa and Cynthia projects
  
• Acquisition of Golden Oly project, including seven intrusions similar in age to Valley and prospective for Valley-style RIRGS gold mineralization, along with a diverse package of additional Selwyn Basin gold prospects
  
• Significant asset expansion through staking using our proprietary regional database and in-field knowledge of regional geology and mineralization to strategically expand our claim position by 2.7x (including acquisitions) to >280,000 ha
  
• Commencement of environmental survey work at Valley including monthly water quality monitoring, hydrology, pre-disturbance botanical inventories and wildlife surveying, providing a baseline of knowledge for future advanced stage permitting
  
• Visible gold in Phase I drilling at Gracie, a buried intrusion 4 km east of Valley, putting Snowline 3 for 3 on discovery of visible gold in its drill programs, each on never-before-drill-tested targets. Assays for all five holes at Gracie (2,152 m) are pending

Advancement of all Yukon projects, with extensive geological, geophysical and geochemical surface programs moving new targets towards drill readiness across Snowline’s extensive Yukon exploration portfolio.

2023 EXPLORATION PLANS

With a strong treasury and 3 diamond drills parked on site at Valley, Snowline is looking forward to another highly active exploration season in 2023. Through the year, the Company will adhere to its commitment to safe, environmentally sound, and socially responsible exploration, building on its economic engagement within the Yukon and further strengthening lines of communication and consultation with First Nations and Yukon communities.

The scale and nature of the 2023 program will be finalized following receipt and interpretation of remaining drill results from Valley and Gracie on the Rogue project, alongside analytical results from surface programs across Snowline’s portfolio. The Company expects to drill a significant amount at Valley in 2023 to expand, delineate and de-risk the discovery while collecting data useful to resource estimation. At the same time, the Company intends to drill multiple additional targets, using 2022 Phase I drill results from Gracie to vector towards a mineralized intrusive source to that anomaly, and performing first-pass drilling on new targets with the goal of making substantial additional discoveries.

Initial metallurgical testing of Valley material will commence in Q1 2023. The Company is also exploring options to streamline sample processing for analytical results, to avoid the long wait times for analytical results experienced in 2022.

STOCK OPTIONS 

In addition, the Company announces that the Board of Directors of the Company has granted a total of 2,350,000 incentive stock options to various employees, consultants, directors, and officers of the Company. The options are exercisable for one share each at $2.88 per share for a period of five years and are subject to the terms of the Company’s Stock Option Plan. Options are subject to vesting provisions of 20% every six months from the date of the grant.

ABOUT SNOWLINE GOLD CORP.

Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seventeen-project portfolio covering >280,000 ha. The Company is exploring its flagship >137,000 ha Rogue and Einarson gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’ Fort Knox mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. The Company’s first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

QUALIFIED PERSON

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

ON BEHALF OF THE BOARD

Scott Berdahl

CEO & Director

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

---

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

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

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

• Hole V-22-032 returned 1.76 g/t Au over 207.0 m within a broader mineralized interval averaging 1.32 g/t Au over 338.0 m
• Hole V-22-015 returned 1.18 g/t Au over 170.0 m, within a broader mineralized interval averaging 0.65 g/t Au over 442.0 m in 182 m step-back across system width
• Results further demonstrate scale and strong continuity within unusually high-grade reduced intrusion-related gold system
• Assays still pending for 17 of 32 holes (7,232 m of 13,320 m) drilled at Valley and Gracie in 2022

Vancouver, B.C., December 22, 2022: SNOWLINE GOLD CORP. (CSE: SGD) (OTCQB: SNWGF) (the “Company” or “Snowline”) is pleased to announce additional preliminary assay results from its 2022 drilling program at the Valley Zone, Rogue Project, Yukon. Notably, hole V-22-032 intersected a zone of sheeted quartz vein mineralization within the Valley intrusion averaging 1.72 g/t Au over 207.0 m within a broader mineralized zone averaging 1.32 g/t Au over 338.0 m (Tables 1 and 2). The entire hole, including barren sections, averaged 0.93 g/t Au across 532.7 m, ending in mineralized rock. The hole was collared 166 m from any other hole and drilled northeast to test the system between previously announced V-22-005 (192.0 m @ 1.52 g/t Au) and V-22-010 (318.8 m @ 2.5 g/t Au).

“The latest results from Valley continue to demonstrate substantial scale and strong grades for a reduced intrusion-related gold system,” said Scott Berdahl, CEO & Director of Snowline. “Holes V-22-015 and 032 add considerably to the known tonnage of well-mineralized rock in Valley’s central zone. The shape, the size, and the distribution of grades that we’re seeing at Valley—with many of the highest grades encountered to date starting at surface—bode very well for the potential economics of the discovery. We eagerly await remaining 2022 assay results and their contributions to our understanding of this large mineralized system, with more than 5,000 m still to come at Valley and all five holes (>2,000 m) still pending from our nearby Gracie target.”

HOLE V-22-032

Hole V-22-032 was collared in hornfels sedimentary rock west of the Valley intrusion, and drilled northeast, roughly perpendicular to the general southwest orientation of most drill holes to date at Valley. On crossing into the intrusion at 91.6 m downhole, it averaged 1.32 g/t Au over the subsequent 338.0 m, with a general increase in grades towards a gradational boundary between intrusive phases encountered at 341.5 m downhole. The 100.5 m above this boundary averaged 2.03 g/t Au, including a 20 m stretch near the boundary averaging 4.19 g/t Au.

The hole demonstrates further continuity of near-surface, gram to multiple gram per tonne gold mineralization encountered in previous holes at Valley. The darker, porphyritic phase of the intrusion below the boundary may be a driver for higher grades in the lighter, medium-grained granodiorite above.

As with previous holes at Valley, gold grades are carried across broad intervals, and they are not heavily affected by local high-grade (>10 g/t Au) intersections (Table 2).

HOLE V-22-015

Hole V-22-015 was collared in the Valley intrusion on section with V-22-007 (410.0 m @ 1.89 g/t Au including 146.0 m @ 3.24 g/t Au) and V-22-014 (285.2 m @ 1.45 g/t Au including 128.2 m @ 2.48 g/t Au, see Snowline news release dated November 15, 2022), stepped back roughly 182 m from V-22-007 to better test the width and depth of the system. V-22-015 encountered its highest grades within the upper two thirds of the hole. A broad zone of high quartz vein density encountered lower in the hole (Figure 3) loosely correlates with zones of the same darker, porphyritic phase of the intrusion seen in V-22-032. The abrupt decrease in vein density at the intrusive phase boundary observed in that hole is thus not present in V-22-015. Instead, a decrease in the regularity of bismuthinite and visible gold in the lower parts of V-22-015 compared to veins seen roughly 200 m vertically above in V-22-007 appears to correspond to a decrease in gold values.

ABOUT ROGUE

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

UPDATE ON PENDING ANALYTICAL RESULTS

The long processing times for analytical results are understood to be due to operational constraints and high sample volumes at the Whitehorse sample preparation facility. To help manage this backlog, ALS Laboratories has sent various Snowline sample batches to Langley, BC, Sudbury, ON and Thunder Bay, ON. The Company expects this to decrease turnaround time for analytical results on the remaining 17 holes drilled at Rogue in 2022. As evidenced by the available results for late-season holes like V-22-032, this process also randomizes the expected order of receipt of remaining analytical results.

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

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

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

Results reported herein are considered preliminary following receipt of a low but expected percentage of abnormal assays from standard and blank samples inserted by the Company into the Valley sample stream. (Standard samples are prepared by a third-party laboratory to have known quantities of gold, and blank samples are known to contain very limited concentrations of gold.) Reanalysis of samples run along with these reference materials will provide greater certainty in the final assay numbers. These results will be reported if a material difference is identified between the current assays and the re-run sample batches. Based on the widespread and relatively consistent mineralization throughout mineralized zones, however, the Company does not believe that the re-analysis of this relatively small number of samples will have a significant impact on the preliminary mineralized intervals reported herein.

ABOUT SNOWLINE GOLD CORP.

Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seventeen-project portfolio covering >254,000 ha. The Company is exploring its flagship >111,000 ha Einarson and Rogue gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’ Fort Knox mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. The Company’s first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

QUALIFIED PERSON

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

ON BEHALF OF THE BOARD

Scott Berdahl
CEO & Director

For further information, please contact:

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

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CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

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

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

• Hole V-22-014 returned 1.45 g/t Au over 285.2 m, including 2.48 g/t Au over 128.2 m from bedrock surface in 160 m step-out from previous holes
• Full results in for V-22-007 returned 1.89 g/t Au over 410.0 m (entire length in mineralization), including previously announced 3.24 g/t Au over 146.0 m
• Results further demonstrate scale and strong continuity within unusually high-grade reduced intrusion-related gold system
• Assays still pending for 24 of 32 holes (10,530 m of 13,320 m) drilled at Valley and Gracie in 2022

Vancouver, B.C., November 15, 2022: SNOWLINE GOLD CORP. (CSE: SGD) (OTCQB: SNWGF) (the “Company” or “Snowline”) is pleased to announce additional preliminary[1] assay results from its 2022 drilling program at the Valley Zone, Rogue Project, Yukon. Notably, hole V-22-014 intersected a broad zone of sheeted quartz vein mineralization within the Valley intrusion averaging 2.48 g/t Au over 128.2 m from bedrock surface at 2.8 m downhole within a broader zone of 1.45 g/t Au over 285.2 m (Tables 1 and 2). The hole was collared 160 m from the nearest previously announced hole. Full results have also been received for V-22-007, which is mineralized along its entire 410.0 m length from bedrock surface, averaging 1.89 g/t Au along the length of the hole.

“Hole V-22-014 is the latest step-out drill hole to add significantly to the prospective scale and grade of our unfolding gold discovery at Valley,” said Scott Berdahl, CEO & Director of Snowline. “The continuity of strong grades from Valley’s central zone, seen both within holes along hundreds of metres and between holes spaced hundreds of metres apart, demonstrates the presence of a large and robust, unusually rich bulk tonnage gold system. Comparable quartz vein densities—often with numerous instances of trace visible gold—in many holes for which assays have yet to be received have the potential to carry similar grades. With analytical results pending for nearly 80% of our 2022 drilling, we expect further significant growth to this discovery in the coming weeks and months.”

HOLE V-22-014

Hole V-22-014 was collared in the Valley intrusion, 160 m southwest of hole V-22-007 and 165 m southeast of hole V-22-010 (318.8 m @ 2.55 g/t Au including 108.0 m @ 4.14 g/t Au, see Snowline news release dated October 12, 2022). The hole demonstrates lateral and vertical continuity of near-surface, multi-gram-per-tonne gold mineralization encountered in previous holes at Valley (Figures 1 and 2).

V-22-014 encountered high densities of gold-bearing quartz veins in its top 128.2 m and remained largely in mineralization until exiting into hornfels sedimentary rocks at 326 m depth. The last >1.0 g/t Au gold assay occurs as 2.02 g/t Au over 1.5 m from 339.0-340.5 m downhole, within hornfels sedimentary rocks. Gold is typically associated with bismuthinite and telluride minerals in sheeted to near stockwork quartz veins. Overall sulphide content of the system is very low.

As with previous holes in this zone, V-22-014 exhibits a relatively high degree of consistency in gold grade. Of the top 128.2 m, 59 of 103 samples assayed higher than 2.0 g/t Au—representing 71.2 m (non-contiguous) or 55.5% of the downhole interval. While high grades of up to 22.4 g/t (1.4 oz/ton) Au are present, they are not primary drivers of the broader mineralized intervals. Applying a cap at 10 g/t Au reduces the top 128.2 m of the hole by just 4.8% to 2.36 g/t Au, while the broader 285.2 m interval is affected less, dropping 4.1% to 1.39 g/t Au (Table 2).

ABOUT ROGUE

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

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

TOTAL METRES DRILLED – CORRECTION

Due to a tallying error that saw two holes summed twice, total drilling meterage for the 2022 season was incorrectly reported on Snowline’s October 12, 2022 news release as 14,495 m. In fact, a total of 13,320 m was drilled by the Company on its Rogue project in 2022, with 11,168 m drilled at Valley in 27 holes and 2,152 m drilled at the nearby Gracie target in 5 holes. Presently, results for 2,789 m (8 holes) have been received from Valley, with assays pending for the remaining 8,378 m (19 holes). Results for all holes at Gracie remain pending.

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

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

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

Results reported herein are considered preliminary following receipt of a low but expected percentage of abnormal assays from standard and blank samples inserted by the Company into the Valley sample stream. (Standard samples are prepared by a third-party laboratory to have known quantities of gold, and blank samples are known to contain very limited concentrations of gold.) Reanalysis of samples run along with these reference materials will provide greater certainty in the final assay numbers. These results will be reported if a material difference is identified between the current assays and the re-run sample batches. Based on the widespread and consistent mineralization throughout mineralized zones, however, the Company does not believe that the re-analysis of this relatively small number of samples will have a significant impact on the preliminary mineralized intervals reported herein.

ABOUT SNOWLINE GOLD CORP.

Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seventeen-project portfolio covering >254,000 ha. The Company is exploring its flagship >111,000 ha Einarson and Rogue gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’ Fort Knox mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. The Company’s first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

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[1] These results are considered preliminary as a small percentage of the Company’s QA/QC insertions of blanks and standard reference materials returned values of outside of acceptable limits. This is not an unusual nor necessarily unexpected failure rate. In response, five samples on either side of failed insertions will be reanalysed along with the insertions themselves. Given the scale and general consistency of the gold mineralization across the holes where insertions did pass QA/QC screening, the Company deems these preliminary results to be strongly indicative of overall grade. Final assay results may be updated in a future release.

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QUALIFIED PERSON

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

ON BEHALF OF THE BOARD

Scott Berdahl
CEO & Director

For further information, please contact:

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

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including statements about the Company’s drill program, results, implied significance of visual inspection of drill core, and surface work and plans for exploring and expanding a new greenfield, district-scale gold system. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof. Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Such factors include, among other things: risks related to uncertainties inherent in drill results and the estimation of mineral resources; and risks associated with executing the Company’s plans and intentions. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

Vancouver, B.C., October 21, 2022: SNOWLINE GOLD CORP. (CSE: SGD) (US OTC: SNWGF) (the “Company” or “Snowline”) is pleased to announce it has completed the previously announced acquisition of a large portfolio of Yukon Territory exploration assets from StrikePoint Gold Inc. (TSXV: SKP), an arm’s length party, in exchange for (i) the payment of $500,000 in cash, and (ii) the issuance of 500,000 common shares (the “Consideration Shares”) of the Company.

“The StrikePoint portfolio comprises ten gold properties in the Yukon’s Selwyn Basin, complementing our existing portfolio and exploration efforts well,” said Scott Berdahl, CEO & Director of Snowline. “Most notably, the ‘Golden Oly’ project covers at least seven distinct reduced intrusion-related gold targets. Each target is geologically similar to our ongoing Valley discovery on our Rogue Project. Based on that success, this is ground we would have staked if it were open. Instead, we have acquired not just the properties, but also extensive geochemical, geophysical and geological datasets which will accelerate our exploration efforts—all for roughly the cost of staking. We will apply our growing knowledge of reduced intrusion-related gold systems and of the Selwyn Basin to build on our track record of discovery.”

The Consideration Shares are subject to a statutory hold period of four months and one day, expiring on February 21, 2023, in accordance with applicable Canadian securities laws. The Consideration Shares are also subject to a contractual hold period of six months, expiring on April 20, 2023.

ABOUT SNOWLINE GOLD CORP.

Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seventeen-project portfolio covering >254,000 ha. The Company is exploring its flagship >111,000 ha Einarson and Rogue gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’ Fort Knox mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. The Company’s first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

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 related to the similarities of the StrikePoint portfolio to the Company’s ongoing Valley discovery on its Rogue Project, the acceleration of exploration efforts, the opportunity for investors to be part of multiple discoveries and the creation of a new gold district. 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-22-010 returned 2.55 g/t Au over 318.8 m, including 4.14 g/t Au over 108.0 m from bedrock surface
• Hole demonstrates continuity of multi-gram mineralization seen in V-22-007 and expands width of high-grade central corridor at Valley
• Assays still pending for 28.3 of 32 holes (13,182 m of 14,495 m) drilled at Valley and Gracie in 2022
• Monthly environmental baseline monitoring commenced at Valley.

Vancouver, B.C., October 12, 2022: SNOWLINE GOLD CORP. (CSE: SGD) (OTCQB: SNWGF) (the “Company” or “Snowline”) is pleased to announce additional preliminary* assay results from its 2022 drilling program at the Valley Zone, Rogue Project, Yukon. Hole V-22-010 intersected a broad zone of sheeted quartz vein mineralization within the Valley intrusion averaging 2.55 g/t Au over 318.8 m from bedrock surface at 3.0 m downhole (Tables 1 and 2). The hole was collared more than 165 m from any previously announced hole, and it expands to the southeast the known width of the zone of high vein densities within the Valley intrusion (Figures 1 and 2).

“In the context of our initial 2022 drill assays from V-22-005 and V-22-007, these latest results highlight a continuity of mineralization at Valley that we were hoping to see, with grades exceeding our expectations,” said Scott Berdahl, CEO & Director of Snowline. “The results change once again the way we think about the Valley gold system, and they continue to challenge conventional perceptions of reduced-intrusion related gold systems in general. We eagerly await the many forthcoming analytical results from our 2022 drill programs at Valley and Gracie, along with those from our very active surface exploration season across Snowline’s Yukon portfolio.”

HOLE V-22-010

Hole V-22-010 was collared in the Valley intrusion, 180 m west of hole V-22-007 (282.9 m @ 2.30 g/t Au including 146.0 m @ 3.24 g/t Au, see Snowline news release dated August 24, 2022). Similar to hole V-22-007, V-22-010 encountered a polyphase granodiorite to diorite intrusion, with multiple generations of gold-bearing quartz veins present in the drill core. The hole is notable not only for its high vein densities but also for the relative abundance of trace, fine grained (sub millimeter scale) grains of visible gold, with over 120 instances of gold grains observed along the length of the hole. Gold is commonly associated with bismuthinite and telluride minerals in sheeted to near stockwork quartz veins. Overall sulphide content of the system is very low.

The hole exhibits a relatively high degree of consistency in gold grade. Of the top 108.0 m, 79 of 111 samples assayed higher than 2.0 g/t Au—representing 77.4 m (non-contiguous) or 71.7% of the downhole interval. The lowest assay over this same stretch returned 0.59 g/t Au over 1.0 m from 107.0 m downhole. Of the entire 318.8 m interval reported from surface, 41.8% and 67.4% by (non-contiguous) distance assayed above 2.0 g/t Au and 1.0 g/t Au, respectively. While high grades of up to 43.7 g/t (1.4 oz/ton) Au are present, they are not primary drivers of the broader mineralized intervals. Applying a cap at 10 g/t Au reduces the top 108 m of the hole by just 13.5% to 3.58 g/t Au, while the broader 318.8 m interval is affected less, dropping 7.8% to 2.35 g/t Au (Table 2).

The entire hole averages 2.18 g/t Au over its 401 m length from 3m to 404 m downhole, including barren zones. The last >0.1 g/t Au gold assay occurs as 0.85 g/t Au over 1.0 m from 394.0-395.0 m downhole, in an area where veins are oriented more closely to core axis.

ROGUE PROJECT INITIATIVES

In recognition of the potential significance of its drill discovery at Valley, the Company has initiated environmental baseline monitoring in the vicinity of the project. As of early October 2022, 11 water quality monitoring stations have been established for monthly sampling by an independent third-party environmental firm, alongside 5 hydrometric stations to measure stream flow levels within and around the Valley intrusion. These measurements will complement weather and precipitation monitoring, alongside both planned and completed wildlife, botanical and archaeological surveys, to provide baseline environmental data for future progression of the project.

The Company has also engaged a metallurgical consultant for an initial evaluation of mineralization at Rogue through gravity, leaching and communition tests. Early identification of potential gold recovery processes will help to de-risk the project while guiding further drilling and future economic studies to optimize exploration and potential development at Valley and other targets on the property.

Three drill rigs will be wintered on site to allow for an early, rapid, and cost-effective start to the next phase of exploration at Rogue.


ABOUT ROGUE

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

Valley is an early-stage exploration project without a resource estimate, and the presence or absence of an economically viable orebody cannot be determined until significant additional work is completed. At writing, 91% of analytical results from the 2022 drill campaign (13,182 m of 14,495 m, comprising 11,030 m of 12,343 m at Valley and 2,152 m of 2,152 m at Gracie) remain outstanding.


NOTE ON VEIN DENSITIES

Vein densities presented herein refer to the number of quartz veins apparent in a meter of core, where a single quartz vein may range in thickness from millimetres to tens of centimetres. Such densities are used by the Company, alongside presence/absence of visible gold and bismuthinite, and average thickness of quartz veins, as a general indicator of gold potential to guide exploration. They should not be interpreted as a direct analogue to assay results. Additionally, the level of detail as currently logged varies between holes, with density values for certain holes currently averaged across intervals of tens of metres, whereas densities for other holes are split out at the metre scale. Angle of veins relative to core can also severely affect observed density, as a hole drilled parallel to the orientation of sheeted quartz veins will show a low vein density (e.g. V-22-033 in Figure 1), whereas a hole drilled perpendicular to veins in the same material will show a higher vein density. Finally, different vein arrays, and even different regions within a laterally extensive vein array, may have variable gold content. For interpretation and significance of any hole, the Company cautions that assay results are required.

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

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

The entirety of hole V-22-010 will undergo screen reject analysis to determine whether the screening process could introduce a sampling bias in current results by excluding coarse gold from analysis, resulting in an under-reporting of true grades. Other biases are also possible.

As noted, results reported herein are considered preliminary following receipt of a low percentage of abnormal assays from standard and blank samples inserted by the Company into the Valley sample stream. (Standard samples are prepared by a third-party laboratory to have known quantities of gold, and blank samples are known to contain very limited concentrations of gold.) In total, 3 of 43 reference samples fell outside of acceptable limits. Reanalysis of samples run along with these reference materials will provide greater certainty in the final assay numbers. These results will be reported if a material difference is identified between the current assays and the re-run sample batches. Based on the widespread and consistent mineralization throughout V-22-010, however, the Company does not believe that the re-analysis of this relatively small number of samples will have a significant impact on the preliminary mineralized intervals reported herein. 

ABOUT SNOWLINE GOLD CORP.
 
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seventeen-project portfolio covering >254,000 ha. The Company is exploring its flagship >111,000 ha Einarson and Rogue gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’ Fort Knox mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. The Company’s first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

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*These results are considered preliminary as 3 out of 43 of the Company’s QA/QC insertions of blanks and standard reference materials into hole V-22-010 returned values of outside of acceptable limits. This is not an unusual nor necessarily unexpected failure rate. In response, five samples on either side of failed insertions will be reanalysed along with the insertions themselves. Given the scale and general consistency of the gold mineralization across the holes where insertions did pass QA/QC screening, the Company deems these preliminary results to be strongly indicative of overall grade and thus material information. Final assay results may be updated in a future release. For more information, see the QA/QC section of this release.

QUALIFIED PERSON   Information in this release has been prepared under supervision of and approved by J. Scott Berdahl, M.Sc., P. Geo., CEO and Director of Snowline and a Qualified Person for the purposes of National Instrument 43-101.   ON BEHALF OF THE BOARD   Scott Berdahl CEO & Director   For further information, please contact: Snowline Gold Corp. +1 778 650 5485 info@snowlinegold.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This news release contains certain forward-looking statements, including statements about the Company’s drill program, results, implied significance of visual inspection of drill core, and surface work and plans for exploring and expanding a new greenfield, district-scale gold system. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.   Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Such factors include, among other things: risks related to uncertainties inherent in drill results and the estimation of mineral resources; and risks associated with executing the Company’s plans and intentions. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

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

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

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

STRIKEPOINT ACQUISITION

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

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

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

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

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

STAKING

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

EXPLORATION UPDATE

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

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

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

ABOUT ROGUE

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

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

ABOUT SNOWLINE GOLD CORP.

Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seventeen-project portfolio covering >254,000 ha. The Company is exploring its flagship >111,000 ha Einarson and Rogue gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’ Fort Knox mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. The Company’s first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

QUALIFIED PERSON

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

ON BEHALF OF THE BOARD

Scott Berdahl
CEO & Director

For further information, please contact:

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

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including statements regarding the completion of the Acquisition, including CSE acceptance, payment of the Cash Consideration and the issuance of the Consideration Shares, newly staked targets being considered by the Company to be prospective for RIRGS and/or gold, the potential to participate in multiple future discoveries, newly acquired areas having elevated potential to host gold deposits, the Rogue project having district-scale prospectivity, the creation of a new gold district and the Company’s future plans and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

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

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

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

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

HOLE V-22-007

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

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

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

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

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

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

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

VALLEY DRILLING UPDATE

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

GRACIE ZONE DRILLING

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

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

ABOUT ROGUE

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

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

QA/QC

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

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

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

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

WARRANT EXERCISES

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

ABOUT SNOWLINE GOLD CORP.

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

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

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QUALIFIED PERSON
 
Information in this release has been prepared under supervision of and approved by Thomas K. Branson, M.Sc., P. Geo., Exploration Manager for Snowline and a Qualified Person for the purposes of National Instrument 43-101.
 
ON BEHALF OF THE BOARD
 
Scott Berdahl
CEO & Director
 
For further information, please contact:
Snowline Gold Corp.
+1 778 650 5485
info@snowlinegold.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including statements about the Company’s upcoming drill program, implied significance of visual inspection of drill core, outcomes of mineral tenure ownership resolution, and surface work and plans for exploring and expanding a new greenfield, district-scale gold system. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
 
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Such factors include, among other things: risks related to uncertainties inherent in drill results and the estimation of mineral resources; and risks associated with executing the Company’s plans and intentions. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

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

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

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

CENTRAL MINERALIZED CORRIDOR

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

BROADER VALLEY INTRUSION

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

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

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

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

THREE DRILLS NOW ACTIVE

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

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

ABOUT ROGUE

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

ABOUT SNOWLINE GOLD CORP.

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

QUALIFIED PERSON

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

ON BEHALF OF THE BOARD

Scott Berdahl
CEO & Director

For further information, please contact:

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

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

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

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