Vancouver, British Columbia--(Newsfile Corp. - February 6, 2024) - Endurance Gold Corporation (TSXV: EDG) (OTC Pink: ENDGF) (FSE: 3EG) (the "Company") is pleased to report results from prospecting and soil sampling surveys conducted on the Olympic Claims of its Reliance Gold Project (the "Property") in southern British Columbia. The road accessible Property is located 4 kilometres ("km") east of the village of Gold Bridge, and 10 km north of the Bralorne-Pioneer Gold Mining Camp which has historically produced over 4 million ounces of gold.
In 2023, the Company collected 893 grid and contour soil samples over the Olympic Claims where a 2022 orientation survey identified an encouraging arsenic (+/- antimony) geochemical anomaly (see News Release, January 3, 2023). The 2023 survey has expanded the original surficial geochemical anomaly to a 1.8 kilometre ("km") strike length and has identified two additional surficial geochemical anomalies with strike lengths of 650 metres ("m") and 500 m. These three geochemical anomalies are larger in collective surface area than the geochemical anomaly associated with the 2020 Eagle Zone discovery.
Within two of the soil anomalies defined in 2023, the Company collected 19 rock grab samples of which five (5) assayed greater than 5.5 gpt gold with the highest including 25.10 grams per tonne ("gpt") gold and 22.30 gpt gold. The most significant grab samples collected to date by the Company are reported in Table 1.
Table 1 Reliance Olympic Targets - Significant Grab Samples
| Sample ID | Gold (ppm) | Silver (ppm) | Antimony (%) | Prospect | Soil Grid | Year |
| C964411 | 4.10 | 1.2 | 6.78 | Enigma | Enigma | 2022 |
| C964412 | 2.04 | 0.6 | 6.80 | Enigma | Enigma | 2022 |
| C964413 | 0.70 | 0.4 | 0.06 | Enigma | Enigma | 2022 |
| C964416 | 9.66 | 2.1 | 11.90 | Enigma | Enigma | 2022 |
| H614453 | 7.59 | 1.5 | 0.02 | Enigma | Enigma | 2023 |
| H614461 | 1.36 | 0.9 | 0.24 | Enigma | Enigma | 2023 |
| H614462 | 22.30 | 47.5 | 0.03 | Kelvin | Olympic | 2023 |
| H614463 | 13.70 | 54.4 | 0.02 | Kelvin | Olympic | 2023 |
| H614465 | 5.55 | 19.7 | 0.01 | Kelvin | Olympic | 2023 |
| H614466 | 25.10 | 93.9 | 0.02 | Kelvin | Olympic | 2023 |
"These extensive soil anomalies, with a geochemical signature and size consistent with the Eagle and Imperial area discovery, provide support for the outstanding untested exploration potential on the Olympic Claims," commented Robert Boyd, CEO of Endurance Gold. "Although the 2023 field season was shortened due to nearby serious wildfires, our field team was still able to further upgrade the Olympic Claims and benchmark these large targets with high-grade gold bearing grab samples that justify advancing these targets towards more advanced exploration activities."
The outline of all the geochemical anomalies on the Reliance Gold Project are displayed in Figure 1. The results reported on the Olympic claims are detailed on Figure 2 below. Grab samples from a narrow shear zone in outcrop exposures in the area of the soil anomaly assayed 25.1 gpt gold, 23.3 gpt gold, 13.70 gpt gold and 5.55 gpt gold.
The Olympic Soil Anomaly is defined by talus-fines samples, is 650 m in length, and trends sub-parallel to the Bridge River Valley. The anomaly appears to be truncated by the Girl Creek drainage to the west which hosts the Kelvin Prospect. At the east end, the anomaly is truncated or possibly offset at the Howe Creek drainage where ultramafic rocks and feldspar porphyry dykes have been mapped.
The Enigma Soil Anomaly is defined by an Ionic Leach geochemical signature from till samples. This methodology was applied in this area due to an extensive area of transported glacial-fluvial cover that masks the bedrock south and east of the Enigma showing; the rare outcrop exposure in this area on the Carpenter Lake shoreline. This glacial-fluvial cover made the original orientation soil sampling ineffective. The anomaly is 500 m long and is also subparallel to the Bridge River Valley. The western extent of the anomaly is defined by the original Enigma outcrop displaying strong ankerite alteration, brecciation, and stibnite veining over a 75 m east-west trend. Approximately 500 m to the east, the Enigma Anomaly again outcrops on the lakeshore at a previously undocumented showing displaying similar ankerite alteration.
The Howe Creek Anomaly is a set of discontinuous northwest-southeast trending linear anomalies that are sub-parallel to Howe Creek and are possibly related to interlayered ultramafic rocks and felspar porphyry dykes. This anomaly was initially identified in the 2022 program by elevated arsenic in talus-fines and biogeochemistry samples. The Howe Creek anomaly has now been expanded to 1.8 km length and is open to the southeast along interpreted ultramafic contacts. The northwest end of the Howe Creek Anomaly continues to the lake shoreline where it interacts with the Olympic Anomaly.
Grab Samples - Prospect sampling and geological mapping have identified a mineralized shear structure from the Kelvin Prospect within the area defined by Olympic Soil Anomaly (see Figure 3). Selective sampling of a 20 cm wide gossanous quartz vein bounded by 2 cm rims of oxidized arsenopyrite returned high-grade gold values of 13.7 gpt, 22.3 gpt, and 25.1 gpt gold over a mapped 65 m strike length. The vein has a steep 80 degree dip to the southwest. The surrounding wall rock of the vein assayed 5.55 gpt gold in a grab sample. Approximately 1,100 m to the east at the Enigma Showing, additional quartz-stibnite veins were identified in 2023 sampling that assayed 1.36 gpt and 7.59 gpt gold.
The Company acquired an option to earn a 100% in the Olympic Claims from Avino Silver and Gold Corporation in 2022 (see news release May 2, 2022). The Olympic Claims are immediately east of the Reliance Claims that have been the focus of the Company's recent drilling programs. The Olympic Claims were previously explored in the 1980s with geochemistry and minor drilling. The best historic results include a 1988 drill hole that reportedly intersected 8.2 gpt gold over 3.48 m. The claims have not seen any modern systematic exploration.
The Reliance Gold Project is interpreted to host a shallow-level (Epizonal) Orogenic gold system. Gold mineralization is directly related to varying amounts of arsenopyrite, stibnite and pyrite as sulphide replacement and multigenerational breccias often with associated pervasive silicification, quartz stockwork and/or quartz breccia infill. Since the 2020 discovery of the Eagle Zone, the Company has completed 84 RC drill holes and 82 diamond drill holes along a 1.5 km strike of the Royal Shear host.
Endurance Gold Corporation is a company focused on the acquisition, exploration and development of highly prospective North American mineral properties with the potential to develop world-class deposits.
ENDURANCE GOLD CORPORATION
Robert T. Boyd
FOR FURTHER INFORMATION, PLEASE CONTACT
Endurance Gold Corporation
(604) 682-2707, info@endurancegold.com
www.endurancegold.com
Soil samples were collected by hand using a shovel and/or grub hoe to excavate up to two metres of pumice tephra-ash that covers the Property. Due to the relatively young age of the tephra-ash deposit there is no mature soil development above this tephra-ash horizon. Soil samples were dried and screened at the Property under the supervision of geologist. The undersized fraction of the sample was analyzed by an Olympus Vanta XRF Analyzer which is capable of measuring elements from concentrations as low as single parts per million (ppm). Duplicate pXRF analysis was also conducted on a select set of the duplicate split samples to test for reproducibility. The pXRF analysis does not return quantifiable gold but previous work by the Company has shown that arsenic mineralization has a strong positive correlation with gold mineralization.
Till samples collected from the Enigma Grid were collected using plastic sampling tools to minimize contamination. No onsite processing of the samples occurred and the samples were submitted to ALS Global in North Vancouver where they were analyzed with their Ionic Leach method (ME-MS23).
Grab Samples are selective by nature and may not represent the true grade from the area sampled. Since 2020, all rock samples were submitted to ALS Global in North Vancouver, BC, an ISO/IEC 17025:2017 accredited laboratory, where they were crushed to 70% <2 mm then up to 250 gram pulverized to <75 microns. Samples were then submitted for four-acid digestion and analyzed for 48 element ICP-MS (ME-MS61) and gold 30g FA ICP-AES finish (AU-ICP21). Over limit samples returning greater than 10 ppm gold were re-analyzed by Au-GRA21 methodology and over limit antimony returning greater than 10,000 ppm Sb were re-analyzed by Sb-AA08 methodology.
The work program is supervised by Darren O'Brien, P.Geo., Vice President Exploration for the Company and the qualified person as defined in National Instrument 43-101. Mr. O'Brien has reviewed and approved this news release. Neither the 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 news release.
This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from the expected results.
Figure 1: Reliance Gold Project showing Eagle, Imperial, and the Olympic Surficial Anomalies
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Figure 2: Olympic Surficial Geochemical Anomalies and Rock Sampling
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SOURCE: Endurance Gold Corporation
