Guskin Gold Provides Update on Completion of Phase I Work Program at the Kukuom Gold Project in Ghana, Africa

Rhea-AI Summary

Guskin Gold Corp (OTCQB:GKIN) announced the completion of Phase I of its Kukuom Gold Project in Ghana with 16.8km of ground magnetic and Induced Polarization surveys, along with 200 soil samples collected. Analysis results are expected soon. A Phase II drill program, featuring a 17-hole, 1,400-meter RC drill, is tentatively scheduled for late November to early December. The Kukuom project sits in a highly prospective area, near major mines, and Guskin holds a 70% stake in the joint venture with Danampco. The company is focused on gold exploration and mining in Ghana, the leading gold producer in Africa.

Positive

• Completion of Phase I ground work program on Kukuom Gold Project.
• Identification of several high-priority targets for further exploration.
• Strong geological prospects due to proximity to major gold mines.

Negative

• None.

SAN JOSE, CA / ACCESSWIRE / September 27, 2022 / Guskin Gold Corp (OTCQB:GKIN) ("Guskin Gold" or the "Company") is pleased to announce the completion of Phase I of the 2022 ground work program on the Company's Kukuom Gold Project in the Sefwi-Bibiani Gold Belt, Ghana, Africa.

Phase I Work Program

As part of the Phase I exploration work program, the Company completed 16.8km of ground magnetic and Induced Polarization (IP) surveys and collected 200 soil samples.

Terranet Limited, based in Accra, Ghana conducted the geophysical surveys and data analysis and interpretation of the results which are expected back in the coming weeks.

Soil samples were collected by in house work crews led by Guskin Gold's Director of Exploration, Francis Lovebridge Agezo and Isaac Kwabena Owusu, Guskin's Supervising Geologist. The soil samples were shipped to ALS Labs in Kumasi for analysis.

Phase II Drill Program

In preparation for the Phase II work program, tentatively scheduled for late-November, early-December is a 17-hole, approx. 1,400-metre proposed RC drill program to follow up on the high propriety targets.

"Targets were generated and defined during previous exploration work; this target is currently under active investigation and ground magnetic and Induced Polarization (IP) surveys and soil sampling have been completed over the target. The drill program is to test the extent, continuity and grade of gold mineralization observed in the past and current work. Other targets will be subjected to similar level of investigations during the course of exploration." Mr. Francis Lovebridge Agezo, Guskin Gold's Director of Exploration, states.

"We are very happy with the ground geophysics program conducted by Terranet. Preliminary review suggests we have several high-priority targets/zones for the upcoming drill program and also appears tofingerprint and characterize zones of gold-bearing vein systems, and we are working to fine-tune our understanding of the lithology and structure. A successful outcome will require subsequent phases to allow us an increased detail of information and the geologic confidence sufficiently to define a mineral resource that can be developed to Canadian NI 43-101 and/or Australian JORC (2012) reporting standards."

The Kukuom Gold Project Significance

Located in Asunafo South District, Ahafo Region, and is a Joint Venture Partnership with Danampco Company whereby Guskin Gold has an exclusive seventy (70%) percent. The license area is 156 square kilometers and the Kukuom Gold Project is highly prospective, spatially related to major mines including Newmont's Ahafo Gold Mine (23Moz) located approximately 30km north of the Kukuom property, and Asante Gold's Chirano Gold Mine (5Moz) located approximately 45km south-southeast of Kukuom and their Bibiani Gold Mine (7Moz) located approximately 25km southeast.

Francis Lovebridge Agezo, Guskin Gold's Director of Exploration is credited to have participated in the exploration, discovery and development of the Chirano Mine deposits. Notably on April 25th, 2022, Kinross Gold Corp. (KGC) announced the sale of the Chirano Gold Mine for $225million to Canadian Asante Gold (ASE); Asante having previously acquired the Bibiani Gold Mine for $90million from Australian Resolute Mining (RSG) in August 2021.

About Guskin Gold Corp.

Guskin Gold Corp. (OTCQB:GKIN) is a mining company publicly traded in the United States, with its head office in Santa Clara, California. Guskin is focused on gold exploration and mining in Ghana, the number one gold producer in Africa and seventh largest gold producing country in the world. The Company's leadership team is world-class. Many are native to Ghana, all offer specialised expertise in the business of gold exploration, mining, public markets, and finance. And all are passionately committed to the success of the Company, our partners, and investors. For additional information please visit www.guskingold.com.

Company Contact Information
Mrs. Naana Asante
Chief Executive Officer
naana.asante@guskingold.com
www.guskingold.com

Qualified Person Statement

Guskin Gold's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Francis Lovebridge Agezo, P.Geo, the Company's Director of Exploration, and a qualified person under the definition of National Instrument 43-101. This news release was written for the Purpose of reporting on the operations pertaining to the Company's Kukuom Gold Project. The Company accepts no responsibility or liability for any use of this report or any reliance upon this report by any person, other than the use of the whole of this report by the Company consistent with the Purpose. The full report, while unpublished in this press release, must always be considered in its entirety.

Forward-Looking Statements and Disclosure

This news release contains "forward-looking statements" which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as "anticipate", "seek", intend", "believe", "estimate", "expect", "project", "plan", or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with the exploration and exploitation of the "Tepa Gold Mine", and/or "Kukuom" Concession, new mineral and/or gold projects, securing necessary financing, the future of the U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations pertaining to the mining and exploration of mineral properties in Ghana and internationally. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission. For more information, please visit www.sec.gov.

SOURCE: Guskin Gold Corp.

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FAQ

What is the recent update from Guskin Gold Corp regarding GKIN?

Guskin Gold Corp has completed Phase I of its Kukuom Gold Project, including extensive geophysical surveys and soil sampling.

When is the Phase II drilling program for the Kukuom Gold Project scheduled?

The Phase II drilling program is tentatively scheduled for late November to early December.

What were the key activities completed in Phase I of the Kukuom Gold Project?

Phase I included 16.8km of ground magnetic surveys and the collection of 200 soil samples.

What is the significance of the Kukuom Gold Project for Guskin Gold Corp?

The Kukuom Gold Project is highly prospective, located near major mines, and Guskin holds a 70% stake in this joint venture.