Antler Gold Announces Completion of Soil and Calcrete Sampling on Its Central Erongo Gold Project, Namibia

Rhea-AI Summary

Antler Gold completes soil and calcrete sampling program on Central Erongo Gold Project in Namibia, identifies three new drill targets

Positive

• Completion of sampling program on Central Erongo Gold Project
• Identification of three new drill targets

Negative

• None.

Halifax, Nova Scotia--(Newsfile Corp. - August 23, 2023) - Antler Gold Inc. (TSXV: ANTL) ("Antler" or the "Company") is pleased to announce the completion of its soil and calcrete sampling program on its 100% owned Central Erongo Gold Project in Namibia. The project is comprised of five contiguous licenses covering a total area of 185 km² in highly prospective areas of the Damara Mobile Belt. This includes 28 km of prospective strike length with the same stratigraphy that hosts the Osino Resources Twin Hills deposit. Antler's EPL 8010 borders with the Twin Hills Mining License (3.1 Moz Au). The highest soil sampling anomaly on Antler's EPL 7261 is approximately 5 km from the Navachab Gold Mine, a 1989 mineral resource of 10.4 Mt @ 2.4 g/t Au which produced 85,000 ounces of gold in 2022. (Figure 1)

"Since acquiring these licenses in 2019, we have significantly expanded our exploration programs, amassing 6,015 soil samples, with 4,157 analyzed and interpreted. This systematic approach has led to the identification of three compelling new drill targets on the project. The C2S gold anomaly, initially spanning 7 km, has the potential to be extended further to the West after the completion of this new sampling campaign. The C2S anomaly is broadly comparable to the early-stage mineralized system identified by Osino in 2018, which led to the discovery of Twin Hills," said Christopher Drysdale, CEO of Antler Gold Inc.

Figure 1 .) Location of recently completed soil and calcrete sampling on EPL 7261 and EPL 8010 relative to gold deposits and mines and the location of the C2S anomaly.

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The C2 target is a large-scale gold prospect identified through Antler's grassroots exploration efforts in 2019 and 2020. The prospect aligns with secondary and tertiary structures adjacent to the Karibib Fault, a regional-scale feature, while coinciding with magnetic highs. Antler's systematic exploration approach for the C2 target has included soil, regolith, and rock-chip sampling, as well as geological mapping, along with ground Induced-Polarization geophysics and high definition heliborne magnetic surveys. Notably, no drilling activities have been conducted on the C2 target to date. Re-interpretation of geochemical and structural data has led to the Company implementing this expansion exploration program. Figure 2 illustrates the mineralizing system discovered by Antler to date, which is open to the southeast on EPL 7261.

Figure 2.) EPL 7261 anomaly extension Soil and Calcrete sample points (results outstanding) relative to the completed sampling with associated Au assay grades.

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The expanded sampling campaign consisted of 1,858 samples collected, with a total of 1,368 samples extending the C2S anomaly to the southeast on EPL 7261 and 490 samples collected on C2 ext., located on EPL 8010. (Figure 3). Results are outstanding for these samples.

Figure 3.) EPL 8010 Soil and Calcrete Sample points (Results Outstanding). Note proximity to The Twin Hills Gold Mining License with 3.1 Moz Au Deposit.

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Sampling spacing and technique.

Soil and calcrete samples were taken at 50 m sample spacing along 400 m line spacing. Each sample site was located in the field using a handheld Garmin GPS. Sample site descriptors were recorded. The top organic rich layer of soil was scraped away using a spade, with care taken to exclude organic material from the sample. A pick was then used to dig down to between 10 and 30 cm below surface, targeting the B and/or C soil horizons. If sufficient soil was present, a soil sample was collected. This consisted of a 100 g - 200 g of -180 µm screened material (Figure 4). Calcrete samples were collected at sample sites where calcrete was found to be present in such abundance or so thickly developed as to make it unfeasible to collect soil samples. Approximately 1.2 kg of calcrete material was collected per calcrete sample.

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QA/QC sample assay results have been independently monitored through a quality control/quality assurance ("QA/QC") program including replicate field samples, pulp duplicate samples and the insertion of blind standards and fine and coarse blanks. QA/QC samples make up 15% of the total number of samples taken. Geochemical samples were collected in the field and stored at the Company's secure facility located in the town of Karibib. Samples were then batched and securely transported to the ACT LABS sample preparation facility in Windhoek, Namibia where they were prepped by Method RX4 whereby entire sample is crushed to a nominal -2 mm, mechanically split to obtain a representative sample, and then pulverized to at least 95% -105 microns (µm). The samples, once prepped, were then shipped to ACT LABS lab in Colombia for the 1A1 Au Fire Assay. INAA was used to analyze for gold, which is Fire Assay completed with Instrumental Neutron Activation Analysis. Samples are encapsulated and irradiated in a nuclear reactor. After a suitable decay, samples are measured for the emitted gamma ray fingerprint.

About Antler Gold Inc.

Antler Gold Inc. (TSXV: ANTL) is a Canadian listed mineral exploration company focused on the acquisition and exploration of mineral projects in Africa's Top-Ranked Jurisdictions, with exposure to both Gold and REE. The Company continues to assess new regional opportunities, with the aim of building a risk diversified business model that allows the Company to generate short and long-term income whilst providing stakeholders with exposure to potential multiple returns that are generated from the discovery process.

Qualified Person

The technical and scientific information in this presentation has been reviewed and approved by Oliver Tors, B.Sc (Hons)., Exploration Manager of the Company, who is registered Professional Natural Scientist (Pr. Sci. Nat. No. 120660) with the South African Council for Natural Scientific Professions (SACNASP) who is a Qualified Person as defined by NI 43-101. Mr. Tors is an employee of Antler Gold Inc. and is not independent of the Company under NI 43-101.

Cautionary Statements

This press release may contain forward-looking information. This information is based on current expectations and assumptions (including assumptions relating to general economic and market conditions) that are subject to significant risks and uncertainties that are difficult to predict. Actual results may differ materially from results suggested in any forward-looking information. Antler Gold does not assume any obligation to update forward-looking information in this release, or to update the reasons why actual results could differ from those reflected in the forward-looking information unless and until required by securities laws applicable to Antler Gold. Additional information identifying risks and uncertainties is contained in the filings made by Antler Gold with Canadian securities regulators, which filings are available at www.sedarplus.ca.

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

For further information, please contact Christopher Drysdale, CEO of Antler Gold Inc., at +264 81 220 2439.

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