G Mining Ventures Confirms High-Grade Core and Extends Mineralization Beyond Main Pit at Tocantinzinho Gold Project

Rhea-AI Summary

G Mining Ventures Corp. has announced significant results from its drilling program at the Tocantinzinho Gold Project in Brazil. Highlights include: 193.6m of 1.48 g/t Au and confirmed continuity of higher-grade gold mineralization. The recent drilling also confirmed mineralization extends below the existing pit design, with high-grade core intercepts such as 12.8m of 4.59 g/t Au. The company plans further exploration drilling at the Castor target following successful reconnaissance results, with ongoing activities aimed at mine construction and resource definition.

Positive

• Successful confirmation of high-grade gold zones with 193.6m of 1.48 g/t Au.
• Increased definition of mining areas, enhancing the project's pre-production potential.
• Continued drilling indicates mineralization extends below the current pit design.
• Promising initial results from the Castor target with strong gold grades.

Negative

• None.

Highlights of intercepts include: 193.6m of 1.48 g/t Au including 12.8m of 4.59 g/t Au

BROSSARD, QC / ACCESSWIRE / October 18, 2022 / G Mining Ventures Corp. ("GMIN" or the "Corporation") (TSXV:GMIN)(OTCQX:GMINF) is pleased to announce results from its recently concluded delineation core drilling program at its 100%-owned Tocantinzinho Gold Project ("TZ" or the "Project"), located in the State of Pará, Brazil. The campaign has successfully confirmed the continuity of higher-grade gold in the main pit area, confirmed that the mineralization extends below the existing pit shell, and increased the definition of areas to be mined during pre-production. Highlights of recent results are outlined below, where all intercepts are presented as calculated true width, unless stated otherwise:

• Confirmation of continuity of mineralization and presence of a high-grade core:
  • 193.6m of 1.48 g/t Au (TOC285)
    • Including high-grade intercepts of 12.8m of 4.59 g/t Au and 5.0m of 10.61 g/t Au
  • 144.7m of 1.70 g/t Au (TOC286)
    • Including high-grade intercepts of 13.7m of 2.41 g/t Au and 41.0m of 3.62 g/t Au
  • 126.5m of 1.55 g/t Au (TOC290)
    • Including high-grade intercepts of 5.1m of 4.52 g/t Au and 9.4m of 4.65 g/t Au
  • 175.9m of 1.03 g/t Au (TOC289)
    • Including high-grade intercepts of 24.5m of 3.22 g/t Au and 5.6m of 5.05 g/t Au
• Confirmation of mineralization outside of the feasibility study pit shell:
  • 72.1m of 1.05 g/t Au (TOC284A) including 14.8m of 3.45 g/t Au
  • 10.4m of 0.98 g/t Au (TOC288) including 4.8m of 1.67 g/t Au

All intercepts are presented as calculated true width unless stated otherwise

Louis-Pierre Gignac, President & Chief Executive Officer, commented: "Our latest drilling at TZ confirms the presence of high-grade zones within the main deposit, with mineralization now extending below the current pit design. Results confirm that mineralization is continuous along width close to 200 meters and to a depth of 400 meters. While we are primarily focused on mine construction, upcoming exploration drilling will be conducted on the near-mine Castor target, where successful sampling and reconnaissance drilling has returned strong results."

Deposit Expansion Program: Further Details

The Tocantinzinho deposit consists of a vein stockwork system within a variably altered granite, named Smoky and Salami granite in reference to their colors. The deposit is sub-vertical, southeast trending with excellent grade continuity over approximately 900m in strike-length, 150 to 200m widths and vertical extents up to 400m.

A total of 6,234m has been drilled this year at the deposit, with the principal objective to delineate the first years of production while testing the near surface limit of the tailings, saprolite and unit contacts (Figure 1). Out of the 28 drillholes, 9 have assays pending, 13 presented here have significant intercepts and the last 6 aimed to define ore/waste boundaries and lithological contacts. The 2022 drill program has been successful in confirming the grade continuity of the deposit with several large intercepts of continuous mineralization up to 193.6m of 1.48 g/t Au (TOC285) and 144.7m of 1.70 g/t Au (TOC286) (Figure 2). All intercepts are presented in calculated true width.

Within these mineralized intervals, the drilling also confirmed the presence of a high-grade core with intervals such as 41.0m of 3.62 g/t Au (TOC286), 24.5m of 3.22 g/t Au (TOC289) and 12.8m of 4.59 g/t Au (TOC285). This higher-grade body present continuous mineralization above 1.5 g/t Au and follows the SW lineament plunge of the Tocantinzinho sinistral shear zone. The pending assays test the continuity at depth of the grade along this trend (TOC306).

The 2022 drilling campaign also tested the mineralization at depth outside of the reserve pit shell in the northern and southern portion. The extension at depth of the SW plunge returned 10.4m of 0.98 g/t Au (TOC288) including 4.8m of 1.67 g/t Au. Significant intercepts along the northern portion of the pit wall includes 72.1m of 1.05 g/t Au (TOC284A) including 14.8m of 3.45 g/t Au.

Figure 1 - Plan view showing the 2022 drill position

Figure 2 - Sections showing the highlighted high-grade portion of the Tocantinzinho deposit

Table 1- Major composite of the 2022 drilling campaign

Hole ID	Target	From m	To m	Interval m	True Width m	Gold Grade g/t Au
TOC283	Granite	391.2	397.0	5.8	4.1	0.53
TOC284A	Saprolite	0.0	4.0	4.0	3.2	0.92
	Granite	244.0	271.0	27.0	21.7	0.61
	Granite	292.8	408.4	115.6	72.1	1.05
	Incl.	366.4	387.4	21.0	14.8	3.45
	Granite	508.7	516.5	7.8	5.4	0.60
TOC285	Granite	181.0	460.8	279.8	193.6	1.48
	Incl.	239.6	258.1	18.6	12.8	4.59
	Incl.	431.3	438.5	7.2	5.0	10.61
TOC286	Saprolite	0.0	26.0	26.0	22.6	1.61
	Granite	63.0	253.5	190.5	144.7	1.70
	Incl.	63.0	81.0	18.0	13.7	2.41
	Incl.	150.8	204.8	54.0	41.0	3.62
	Granite	270.00	273.7	3.7	2.8	5.60
TOC287	Saprolite	0.0	12.8	12.8	10.0	1.16
	Andesite	69.0	85.0	16.0	11.5	1.26
	Granite	128.6	167.0	38.5	30.0	1.16
TOC288	Granite	441.0	454.0	13.0	10.4	0.98
	Incl.	441.0	447.0	6.0	4.8	1.67
	Granite	488.7	495.0	6.4	5.1	0.81
TOC289	Saprolite	0.0	44.6	44.6	30.3	0.63
	Granite	44.6	303.6	259.0	175.9	1.03
	Incl.	67.9	104.0	36.1	24.5	3.22
	Incl.	235.7	244.0	8.3	5.6	5.05
TOC290	Granite	212.0	373.6	161.6	126.5	1.55
	Incl.	251.0	257.6	6.6	5.1	4.52
	Incl.	265.0	277.0	12.0	9.4	4.65
	Incl.	300.0	305.5	5.5	4.3	3.88
TOC292	Saprolite	0.0	11.4	11.4	8.7	0.84
	Granite	114.8	152.5	37.8	29.4	1.78
	Incl.	125.0	136.0	11.0	8.6	3.31
TOC293	Tailing	0.0	10.0	10.0	10.0	1.36
TOC295	Tailing	0.0	12.8	12.8	12.8	1.22
TOC296	Tailing	0.0	47.1	47.1	38.2	0.48
	Granite	47.1	60.4	13.3	10.8	1.71
	Incl.	48.7	53.7	5.0	4.1	2.46
TOC297A	Granite	44.4	82.4	38.0	28.0	3.59
	Incl.	46.0	63.7	17.7	13.1	6.14

New Targets and Upcoming Exploration Program

Castor Target

Located directly southeast of the Tocantinzinho deposit, Castor is a target identified along the TZ trend (Figure 3). Castor is a high priority target identified through sampling and successful reconnaissance drilling.

Highlights include:

• High-grade surface samples
  • Grab samples have assayed up to 25.40 g/t Au and, while the rocks are not in-situ, their source is most likely proximal.
• Successful first pass drilling
  • Initial drill holes toward the southeast have returned attractive results including 8.0m of 1.66 g/t Au (TOC214) and 8.4m of 2.20 g/t Au (TOC212).
  • The prolific TZ trend (Figure 5) has seen limited drilling.
• Ongoing sampling continues to identify further anomalous results.
  • Existing soil sampling presents anomalous values in gold in this zone.
  • The lines are currently on an 800m spacing.
  • Infill soil sampling lines are in progress to tighten to a 400 m spacing.
• Current Activity and Next Steps
  • Follow-up drilling on the initial hits is currently underway, as is a thorough mapping and sampling campaign to refine and prioritize drill targets.
  • Further drill testing, based on the results of current activity and additional geophysical data, is planned for Q4, 2022 and into 2023.

Figure 3 - Castor target area map presenting structural interpretation, grab samples and collar position (intercepts are not true width)

Déjà Vu Target

Simultaneously to the near deposit exploration effort, a regional soil sampling program will be initiated to complete gaps in the existing information on GMIN claims (Figure 4). The program will start along the Déjà Vu target, on the western portion of the property. This target is defined based on the soil sampling anomaly observed along a structural trend parallel to TZ. Grab samples returned assays up to 100 g/t Au. So far, no drilling has tested this trend. Along with the completion of the soil sampling campaign, mapping and grab sampling will contribute to defining future drilling targets.

Figure 4 - Tocantinzinho claims presenting the regional known exploration target and soil sampling anomalies

Tocantinzinho Trend - A large prolific corridor

Tocantinzinho is the largest known gold deposit in the Tapajós Gold Province. The region hosts other gold deposits (Figure 5), such as Cuiù Cuiù (Cabral Gold Inc.), Palito and São Chico (Serabi Gold plc), and São Jorge (GoldMining Inc.), all located along the Tocantinzinho trend, a major regional NW-SE shear zone. Tapajós is a vast underexplored gold province with an estimated between 15 and 30 M oz of gold produced in alluvium/saprolites in the region, however no quantitative study exists. Base metals are also present in this fertile province as shown by the presence of Anglo American plc and Nexa Resources S.A. in the area.

The large 996 km² land package held by GMIN (through its Brazilian subsidiary) is within the prolific Tocantinzinho trend. Limited work has been completed around the Tocantinzinho deposit which is less than 5% drill tested. Agência Nacional de Mineração (ANM), the Brazilian federal mining agency, has granted the renewal of all 24 exploration claims on the property package, and with only two claims still under review.

Figure 5 - Tapajós Gold Province

Table 2 - Collar coordinates in SIRGAS2000

Hole ID	North m	East m	Elevation m	Azimuth	Dip
TOC283	577945	9330528	146	220	-69
TOC284A	578275	9330880	160	221	-51
TOC285	578278	9330548	141	41	-58
TOC286	578127	9330514	138	40	-55
TOC287	578502	9330747	170	209	-57
TOC288	578167	9330652	148	217	-49
TOC289	578033	9330541	139	41	-54
TOC290	577987	9330595	143	42	-50
TOC292	578173	9330538	137	218	-52
TOC293	578397	9330550	142	148	-56
TOC295	578325	9330673	143	224	-56
TOC296	578022	9330755	153	223	-48
TOC297A	578022	9330756	153	221	-59

Sampling and QAQC Disclosure

TZ assay results are from core samples sent for preparation to ALS Chemex in Vespasiano, Brazil, and then an accredited mineral analysis laboratory in Lima (Peru), and analysis utilizing both fire assay and ICP methods. For a complete description of Tocantinzinho's sample preparation, analytical methods and QA/QC procedures refer to the technical report for the Tocantinzinho project dated February 09, 2022 (effective date December 10, 2021), entitled "Feasibility Study - NI 43-101 Technical Report, Tocantinzinho Gold Project."

Qualified Person

Julie-Anaïs Debreil, P.Geo., Ph.D., Vice President, Geology & Resources, is the Company's Qualified Person as defined by NI 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). Dr. Debreil has reviewed and approved the technical information in this news release.

Feasibility Study 3D VRIFY Presentation

To view a 3D VRIFY presentation of the Study please click on the following link: Feasibility Study 3D VRIFY Presentation, or visit the Corporation's website at www.gminingventures.com.

About G Mining Ventures Corp.

G Mining Ventures Corp. (TSXV: GMIN) (OTCQB: GMINF) is a mineral exploration company engaged in the acquisition, exploration and development of precious metal projects, to capitalize on the value uplift from successful mine development. GMIN is well-positioned to grow into the next mid-tier precious metals producer by leveraging strong access to capital and proven development expertise. GMIN is currently anchored by its flagship Tocantinzinho Project in mining friendly and prospective Pará State, Brazil.

Additional Information

For further information on GMIN, please visit the website at www.gminingventures.com or contact:

Jessie Liu-Ernsting
Director, Investor Relations and Communications
647.728.4176
info@gminingventures.com

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 press release.

Cautionary Statement on Forward-Looking Information

All statements, other than statements of historical fact, contained in this press release constitute "forward-looking information" and "forward-looking statements" within the meaning of certain securities laws and are based on expectations and projections as of the date of this press release. Forward-looking statements contained in this press release include, without limitation, those related to (i) the continuity of high-grade gold in the main pit area and the extension of mineralization below it, (ii) the areas to be mined during pre-production, (iii) the testing of the continuity at depth of the grade along the SW plunge, (iv) the Castor and Déjà Vu exploration targets, (v) the progress shown by tightening infill soil sampling, (vi) the follow-up drilling on initial hits, (vii) the definition and prioritization of drill targets, (viii) the initiating of a regional soil sampling program, (ix) the TZ trend being prolific, (x) the underexplored status of the land package held by GMIN's subsidiary, (xi) the overall potential for gold and base metals in the Tapajós Gold Province, (xii) generally, the additional exploration potential, and, (xiii) more generally, the President & Chief Executive Officer's comments hereinabove as well as the contents of the above sections entitled "New Targets and Upcoming Exploration Program", "Tocantinzinho Trend - A Large Prolific Corridor" and "About G Mining Ventures Corp.".

Forward-looking statements are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Such assumptions include, without limitation, those underlying the items outlined in the above sections entitled "New Targets and Upcoming Exploration Program" and "Tocantinzinho Trend - A Large Prolific Corridor" (notably with respect to the exploration potential at the TZ Project and within the land package held by GMIN's subsidiary), and in the section entitled "About G Mining Ventures Corp.".

Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that, notably but without limitation, the Corporation will (i) meet its objective of delineating the first years of production while testing the near surface limit of tailing, saprolite and unit contacts, (ii) deliver exploration results consistent with the potential outlined in this press release, (iii) bring the TZ Project into commercial production or (iv) advance the TZ Project into one of the largest operating gold mines in Brazil, as future events could differ materially from what is currently anticipated by the Corporation.

By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in the Corporation's other filings with the securities regulators of Canada including, but not limited to, the cautionary statements made in the relevant section of the Corporation's (i) Annual Information Form dated June 3, 2022, for the financial year ended December 31, 2021, and (ii) Management Discussion & Analysis. The Corporation cautions that the foregoing list of factors that may affect future results is not exhaustive, and new, unforeseeable risks may arise from time to time. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.

SOURCE: G Mining Ventures Corp.

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FAQ

What are the key results from G Mining Ventures' recent drilling program at the Tocantinzinho Gold Project?

The drilling program revealed significant gold intercepts including 193.6m of 1.48 g/t Au and high-grade zones with 12.8m of 4.59 g/t Au.

How does the recent drilling impact the mining plans for G Mining Ventures?

The drilling confirms that mineralization extends below the current pit design, potentially enhancing the project's mineable resources.

What future exploration plans does G Mining Ventures have at the Tocantinzinho Gold Project?

G Mining Ventures plans additional exploration drilling at the Castor target, following successful reconnaissance drilling that returned strong results.

How many drill holes were completed in the 2022 program for G Mining Ventures?

A total of 28 drill holes were completed, with significant intercepts reported from 13 holes.

What is the significance of the Tocantinzinho Gold Project for G Mining Ventures?

The Tocantinzinho Gold Project is G Mining Ventures' flagship asset, positioned to enhance its growth as a mid-tier precious metals producer.