New Discoveries at the Big Frank Project in BC; Drilling Planned for Summer

Rhea-AI Summary

Goldplay Mining Inc. (OTCQB: AUCCF) announces significant findings from its 2021 field program at the Big Frank Project in British Columbia. Highlights include:

• 16 g/t gold and 1162 g/t silver from a newly discovered vein.
• 37.3 g/t gold, 174 g/t silver, and 4.3% copper confirming mineralization at Conductor F zone.
• A $1.5 million budget set for the 2022 drilling campaign.

Preparations for drilling are underway, with permits submitted and local First Nations engaged for the summer campaign.

Positive

• High-grade mineralization discovered: 16 g/t gold and 1162 g/t silver from a new vein.
• Confirmed high values at Conductor F zone: 37.3 g/t gold, 174 g/t silver, and 4.3% copper.
• Expansion of soil anomalies by 400m at the Hannah prospect indicates strong exploration potential.
• Budget allocation of $1.5 million for the 2022 drilling program illustrates commitment to further exploration.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / January 10, 2022 / Goldplay Mining Inc. (TSXV:AUC)(OTCQB:AUCCF)(Frankfurt:9FY), (the "Company" or "Goldplay"), is pleased to announce results from its 2021 field program on the Big Frank Project ("Big Frank", or the "Project"), located in southwestern British Columbia approximately 285 km north of Vancouver, with logging road access to the western Project area.

HIGHLIGHTS

• 16 grams per tonne ("g/t") gold ("Au") with 1162 g/t silver ("Ag") from grab sample of a newly discovered vein south of Darlene showing
• 37.3 g/t Au, 174 g/t Ag and 4.3% copper ("Cu") from grab samples confirming mineralization on Conductor F zone near Hannah prospect
• expansion of copper, molybdenum in soil anomaly by 400m at the Hannah porphyry copper-molybdenum("Mo")-gold prospect
• discovery of source area of Confederation Glacier historical gold-silver talus fine anomaly
• initial $1.5 million to be funded from existing cash for 2022 drill program

Catalin Kilofliski, Goldplay Mining President & CEO stated: "We are extremely pleased with recent high grade gold, silver and copper discoveries and expansion of historical copper, molybdenum and gold in soil anomalies made in 2021, further confirming excellent exploration potential at Big Frank. Considering the new discoveries and significant historical results, we have already submitted a drill permit, begun communications with local First Nations and are making preparations for a drill campaign for the summer."

The Project was optioned by Goldplay in late August, 2021. The Project is a prime target for new discoveries based on more extensive exposure of favourable alteration and gossans due to rapidly diminishing glacier cover in an area with known porphyry copper and gold-bearing shear/vein type mineralization. The September 2021 field exploration program (the "Program") focused on an initial examination and evaluation of the Hoodoo North and Hannah porphyry prospects, the Discovery and Conductor F gold zones at Hannah, and the margins of the Darlene gold bearing polymetallic vein and skarn showing and follow up of a 1988 gold-silver talus fine anomaly in the Confederation Glacier area.

A total of 104 rock and 165 soil/talus fine samples were collected by 4 geologists across the 20 km long Project during the Program. Sample locations with thematically plotted gold and copper results are shown on Figures 1 and 2, with significant results from Goldplay's 2021 program labelled.

Hannah Porphyry

Soil sampling in 2021 focused mainly on newly exposed areas (due to glacial retreat) to the north and northwest of the Hannah prospect. The 1 by 1.2 km historical Hannah copper±molybdenum±gold porphyry soil anomaly was extended approximately 400m to the northwest with values ranging from negligible to 243 ppm Mo and 0.57% Cu (average of 52 ppm Mo and 0.064% Cu).

Hannah Prospect Gold Zones

2021 sampling of the Discovery zone confirmed significant previous gold results from shear/vein hosted mineralization yielding 3.06 g/t Au over 3.1m, including 5.72 g/t Au over 1m, from 1988 historical Trench 2 and grab samples of 17.1 g/t with 4.76% Cu, and 7.05 g/t Au with 1.59% Cu from the face of the exposure. Eight grab samples from similar style mineralization at the Conductor F zone, 350m to the west ranged from 1.25 to 37.3 g/t Au (with an average of 18.0 g/t Au), locally with high silver to 174 g/t and copper to 4.25%. Two chip samples from the incomplete exposure at 1988 historical Trench 3 at this location yielded lower results of 0.45 g/t Au over 1.8m. The mineralization at both zones is generally accompanied by extremely high bismuth (to 5077 ppm) and significant silver and copper. Additional conductors were obtained in the 1988 geophysical survey which remain untested.

Other quartz vein zones were grab sampled by Goldplay within the Hannah porphyry alteration zone which returned significant gold results with similar geochemistry as above ± significant to high tellurium (21.59 ppm). Values of 5.45 g/t Au, and 1.12 g/t Au were obtained 500m northwest and 800m north of the Discovery zone and another vein zone about 2 km north of the Discovery zone contained 1.96 g/t Au, 70.8 Ag, 2.75 Cu and 15 ppm bismuth.

Darlene

Goldplay discovered a 30 cm quartz-sulphide vein containing 16.0 g/t Au with 1162 g/t Ag, 0.68% lead and 0.09% zinc ("Darlene South") south of the previously known Darlene skarn/polymetallic vein showing in the northwestern Project area. Three additional samples of smaller veins along a 400m northerly trend returned 0.122 to 0.369 g/t Au with elevated silver, zinc, ± lead. This discovery may represent the southern extent of the source of polymetallic vein float from which the British Columbia Geological Survey obtained 15.5 g/t Au near the Darlene silver-lead vein showing. Additional veins were noted, having been exposed by receding glaciers, which will be sampled during the 2022 field program.

Scattered soil samples through the Darlene South area returned >0.1 to 1.46 g/t Au with anomalous silver, lead, zinc, ± bismuth. The anomalous soils may represent part of a much larger gold anomaly emerging at the edge of an ice field. A 200 by 650m >0.1 to 13.5 g/t Au soil anomaly lies about 700m to the south, with the same geochemical signature except ± tellurium. Extensive quartz veining was encountered within this soil anomaly yielding low anomalous gold values of 0.1 to 0.54 g/t Au, also accompanied by significant silver, bismuth, commonly tellurium and occasional zinc. Veins continue to the south but are less extensive with lower gold.

Confederation Glacier

Follow up of a 1988 historical three station gold-silver talus fine anomaly of 1.24 to 1.55 g/t Au with 4.8 to 11.2 g/t Ag in the Confederation Glacier area led to the discovery of a strong, variably altered zone of clay-sericite and locally strongly silicified Miocene feldspar porphyry about 250m upslope. A weakly brecciated clay-sericite altered sample with oxidized cubic pyrite yielded 5.5 g/t Au. A gold in talus fine anomaly of >0.065 to 2.68 g/t Au (average of 0.91 g/t Au from 14 samples) extends for 300m below the alteration zone and directly uphill of the historical anomaly andis open in both directions. A number of sporadic gold (>0.1 to 0.81 g/t) and copper (>0.1 to 0.33%) in soil values with 0.42 and 0.23% Cu in quartz-sulphide veins lie 400m to the west-northwest of the talus fine anomaly.

Maps are available at the end of the news release and on Company's website.

QAQC

All samples were sent to MS Analytical Laboratories ("MSALabs") in Langley, British Columbia for sample preparation and analysis. At the laboratory, rock sample preparation involved drying, fine crushing to better than 70% passing minus 2 mm, then pulverizing a 250g split to better that 85% passing 75 microns (PRP 910). Soil sample preparation involved drying and screening to minus 80 mesh (PRP-757). For the rocks the fine fraction was analyzed for gold by fire assay on a 30g aliquot with an atomic absorption spectroscopy ("AAS") finish (FAS-111), and for 48 additional elements by four acid digestion and inductively coupled plasma ("ICP") - mass spectroscopy ("MS") ultra trace level analysis (IMS-230). The fine fractions of the soils were analyzed for 39 elements, including gold, by aqua regia digestion and ICP-atomic emission spectroscopy ("AES")/MS ultra trace level analysis on a 20g aliquot (IMS-128). Quality control samples were regularly analyzed by the laboratory and include blanks, certified reference materials, and duplicates of crushed and pulverized material. MSALabs is ISO/IEC 17025:2017 accredited for the procedures performed.

Qualified Person

Jean Pautler, P.Geo., an independent consultant to the Company and a a qualified Person within the context of Canadian Securities Administrators' National Instrument 43-101 Standards of Disclosure for Mineral Projects, examined the Project during the September 2021 exploration program and approved the technical information in this news release.

About Goldplay Mining

Goldplay Mining is a Canadian public company listed on TSXV and in US on OTCQB. Goldplay holds large district scale gold, and copper-gold projects located in BC's Golden Triangle and southwestern BC with potential for world class mineral discoveries. The Company also holds several brownfield gold, and copper-gold projects located in Portugal with near term mining potential.

On behalf of the Board of Directors

"Catalin Kilofliski"

Catalin Kilofliski
President, CEO & Director

For further information please contact:

Goldplay Mining Inc.

Mr. Catalin Kilofliski, President & CEO
Suite 650 - 1021 West Hastings Street
Vancouver, BC V6E 0C3
T: (604) 655-1420
E: catalin@Goldplaymining.ca
www.Goldplaymining.ca

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 release.

Forward Looking Information

This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the exploration potential of the Big Frank Project, including planned future exploration programs. Generally forward-looking statements can be identified by the use of terminology such as "anticipate", "will", "expect", "may", "continue", "could", "estimate", "forecast", "plan", "potential" and similar expressions. These forward-looking statements involve risks and uncertainties relating to, among other things, results of exploration and development activities, management's discretion to revise proposed exploration programs, uninsured risks, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, changes in commodity prices and unanticipated environmental impacts on operations. Although the Company believes current conditions and expected future developments and other factors that have been considered are appropriate and that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct or enduring. Readers are cautioned to not place undue reliance on forward-looking information. The statements in this press release are made as of the date of this release. Except as required by law the Company does not undertake any obligation to update publicly or to revise any forward-looking statements that are contained or incorporated in this press release. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

FIGURE 1: GOLD GEOCHEMISTRY

FIGURE 2: COPPER GEOCHEMISTRY

SOURCE: Goldplay Mining Inc.

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FAQ

What are the key discoveries made by Goldplay Mining at the Big Frank Project?

Goldplay Mining reported significant mineralization, including 16 g/t gold and 1162 g/t silver from a new vein, and 37.3 g/t gold, 174 g/t silver, and 4.3% copper at the Conductor F zone.

When is Goldplay Mining planning to start drilling at the Big Frank Project?

Goldplay Mining plans to commence drilling in the summer of 2022, with preparations already in progress.

What is the budget for Goldplay Mining's 2022 drilling program at Big Frank?

The company has allocated $1.5 million from existing cash for its 2022 drilling program at the Big Frank Project.

How has Goldplay Mining engaged with local communities regarding the Big Frank Project?

Goldplay Mining has begun communications with local First Nations as part of its preparations for the upcoming drilling campaign.