Mountain Boy Minerals: Mountain Boy Reports Results from the Southmore Project

• Copper values in surface samples up to 12.7%.
• Multiple styles of mineralization identified.
• Planning underway for 2021 exploration program.

Vancouver, British Columbia--(Newsfile Corp. - March 3, 2021) - Mountain Boy Minerals Ltd. (TSXV: MTB) (FSE: M9UA) ("Mountain Boy" or the "Company") is reporting results from its 2020 exploration program on the Southmore Project in the heart of BC's Golden Triangle.

This year's program continued the prospecting and mapping that was initiated in 2019 in order to broaden the geological understanding, including the structural controls for mineralization. The Southmore Project was explored in the late 1980s and early 1990s, resulting in several significant mineral occurrences being identified, but there was no follow-up until the Company consolidated the property in 2019 through staking and acquisition.

Key findings from the recent program include the identification of several small intrusive bodies with locally associated mineralization as well as other mineralized structures.

To date, three styles of mineralization have been identified on the property:

• Structurally controlled precious and base metal mineralization.
• Bedded massive sulphides of copper, lead and zinc.
• Skarn mineralization with massive sulphide peripheral to mapped intrusions.

Surface grab samples from the 2020 program include:

• Float Sample 71599 assayed 3.09 g/t gold, 8.21% copper and 51.49 g/t silver;
• Grab Sample 71564 assayed 12.70% copper and 32.3 g/t silver. (See details in the table below.)

A small talus fines geochemistry program was also conducted on the property and two multi-element anomalies were identified. This program, although limited in scope, demonstrated the effectiveness of talus fines geochemistry as an exploration tool that can be used to generate targets on the property.

Historic and current results, as well as the prospective geological setting are encouraging. The Company is proposing a 2021 exploration program that includes both an airborne geophysical survey and a LiDar survey. These surveys will help guide further surface work and prioritize targets. In addition, the Company has submitted a notice of work for a drill permit.

Southmore has many geological similarities to several mineralized deposits in this area of the golden Triangle and the Company intends to further advance the project in the upcoming field season.

Highlights of 2020 Surface Sample Results on Southmore

Sample ID	Sample Type	Au (g/t)	Cu (%)	Ag (g/t)	Pb (%)	Zn (%)
71599	float	3.086	8.214	51.49	0.0013	0.003
A00217698	float	<0.005	0.136	0.03	0.0001	0.001
C0034452	grab	<0.005	0.211	0.03	0.0004	0.008
C0034451	grab	<0.005	0.366	0.25	0.0004	0.008
A00217696	float	<0.005	0.674	0.14	0.0003	0.011
71584	grab	0.231	0.099	16.89	0.0491	4.660
71564	grab	0.011	12.700	32.30	0.0018	0.159
71563	grab	<0.005	0.015	0.90	0.0040	0.194
A00217692	grab	<0.005	0.507	1.19	0.0005	0.003
71578	grab	0.063	0.220	1.60	0.0006	0.016
71580	grab	<0.005	0.125	0.62	0.0080	0.003
71556	grab	<0.005	0.344	0.35	0.0005	0.005
71555	grab	<0.005	0.440	1.19	0.0011	0.007
71567	grab	0.099	0.987	11.54	0.1681	2.760
71566	grab	0.096	0.214	2.39	0.0193	0.026
71552	grab	<0.005	0.016	0.69	0.0036	0.012
71553	grab	<0.005	0.022	0.41	0.0061	0.286
C0034470	float	<0.005	0.569	1.27	0.0004	0.011

The technical disclosure in this release has been read and approved by Andrew Wilkins, B.Sc., P.Geo., a qualified person as defined in National Instrument 43-101.

Southmore Project

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Southmore is one of five projects that MTB is advancing in the prolific Golden Triangle. The flagship is the American Creek project, centered on an historic high-grade silver mine north of Stewart.

On behalf of the Board of Directors:

Lawrence Roulston
President & CEO

For further information, contact:

Nancy Curry
VP Corporate Development
[phone]

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This news release may contain certain "forward looking statements". Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

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