Renforth Infills and Extends Mineralization Down Dip at Parbec

Rhea-AI Summary

Renforth Resources Inc. (CSE:RFR)(OTCQB:RFHRF)(FSE:9RR) has reported positive drill results from its 2020 resource expansion program at the Parbec gold deposit. Highlights include PAR-20-115 with 1.65 g/t gold over 3.7m, and PAR-20-123 featuring 7.03 g/t gold over 0.5m. The program aimed to support a new resource estimate slated for mid-2021, with a total of 15,569m drilled across two phases. All reported holes show significant mineralization, enhancing the overall gold endowment of the Parbec deposit. The next resource estimate is anticipated in June/July 2021.

Positive

• Drill results indicate successful mineralization, with notable highlights of 1.65 g/t gold over 3.7m and 7.03 g/t gold over 0.5m.
• Total of 15,569m drilled in the 2020 program, aimed at supporting a new resource estimate.
• All drill holes reported show significant values, contributing positively to the overall gold endowment.

Negative

• None.

• PAR-20-115 was an undercut of PAR-20-107, results include 1.65 g/t gold over 3.7m, continuing mineralization down dip.
• PAR-20-122 was testing for depth extension in the "Discovery Zone" area of Parbec's resource model, resulting in numerous mineralized intercepts, including 2.26 g/t gold over 1m.
• PAR-20-123 was drilled to test historic (1940s) reported mineralization, resulting in numerous mineralized intervals which include a highlight of 7.03 g/t gold over 0.5m at 76.4m down the hole.
• PAR-20-126 was an infill hole, drilled on a section with no other holes present and mineralization on each side. This hole successfully intersected mineralization with a highlight of 5.2 g/t gold over 0.45m.

PICKERING, ON / ACCESSWIRE / May 6, 2021 / Renforth Resources Inc. (CSE:RFR)(OTCQB:RFHRF)(FSE:9RR) ("Renforth" or the "Company") is pleased to update shareholders on drill results received for Renforth's 2020 resource expansion drill program on the wholly owned Parbec open pit constrained gold deposit on the Cadillac Break, adjacent to the Canadian Malartic Mine.

This press release gives highlights of assays received for PAR-20-115, PAR-20-122, PAR-20-123, and PAR-20-126, all drilled in the Fall 2020 program at Parbec where 9,644m were drilled in phase one of a drill program designed to support a new 2021 resource estimate for Parbec. The drill program finished at 15,569m of drilling completed with the assay results for a total of 33 drill holes in both phase one (Fall 2020) and phase two (Winter 2021) of the program still outstanding.

The drill program was designed to fill in gaps within the existing deposit model (infill drilling), to test for the deeper extension of mineralized zones with undercut drillholes (downdip drilling) and redrill certain holes drilled between 1986 and 1993 (twinning) in order to validate the historical results and allow the assay results from those 62 holes to be used in the 2021 resource estimate for Parbec, anticipated to be complete in June/July 2021. The twinning of holes occurred in the 2021 phase of the program with the visible geological units encountered matching those recorded in the holes twinned. The timeline for the resource estimate is dependent on the receipt of assays. The four holes reported on in this press release continue Renforth's success in drilling at Parbec with, again, each hole drilled returning gold values of interest. Each of the results given below are accretive to the overall gold endowment of the Parbec deposit and are expected to positively impact a resource estimate calculation.

Assay Highlight Table

Hole ID	Grid East	Grid North	From (m)	To (m)	interval (m)	Gold g/t
PAR-20-115	5200	265	184.5	189	4.5	1.03
PAR-20-115	5200	265	206.3	210	3.7	1.65
PAR-20-115	5200	265	216	219.8	3.8	0.58
PAR-20-115	5200	265	233.2	239.85	6.65	0.63
PAR-20-115	5200	265	243	244.5	1.5	0.519
PAR-20-115	5200	265	247.5	249	1.5	0.52
PAR-20-122	5675	160	47.5	50.5	3	0.53
PAR-20-122	5675	160	63	64	1	1.18
PAR-20-122	5675	160	67	68	1	2.26
PAR-20-122	5675	160	72.5	74	1.5	0.88
PAR-20-122	5675	160	100.5	102	1.5	1.06
PAR-20-122	5675	160	157.3	159.05	1.75	0.63
PAR-20-122	5675	160	237	239.05	2.05	0.63
PAR-20-122	5675	160	299.1	299.9	0.8	1.72
PAR-20-122	5675	160	314.5	316	1.5	1.09
PAR-20-123	5800	147	25	26	1	1.06
PAR-20-123	5800	147	36.5	37.5	1	2.35
PAR-20-123	5800	147	40.05	41.2	1.15	2.47
PAR-20-123	5800	147	74.5	76.9	2.4	1.8
including	5800	147	76.4	76.9	0.5	7.03
PAR-20-123	5800	147	108.9	112.75	3.85	1.12
PAR-20-123	5800	147	257.5	260.25	2.75	0.67
including	5800	147	257.5	259	1.5	0.95
PAR-20-123	5800	147	282	290	8	0.89
including	5800	147	282	284.3	2.3	1.34
PAR-20-123	5800	147	287.65	288.25	0.6	3.79
PAR-21-126	5850	250	86.9	87.35	0.45	5.2
PAR-21-126	5850	250	95.3	96.5	1.2	1.28

*assay intervals are as measured in the core box, not true width.

Samples referred to in this press release were selected, split, bagged and tagged in the field and delivers to the facilities of AGAT Laboratories in Val d'Or Quebec where they were assayed for gold using "202-051 - Au by Fire Assay, AAS Finish" and "202-064 - Au by Fire Assay, Gravimetric Finish" for overlimit (>10 g/t Au) values.

Technical disclosure in this press release has been reviewed and approved by Francis R. Newton P.Geo (OGQ#2129), a "qualified person" pursuant to NI 43-101

For further information please contact:

Renforth Resources Inc.

Nicole Brewster
President and Chief Executive Officer
C:416-818-1393
E: nicole@renforthresources.com
#269 - 1099 Kingston Road, Pickering ON L1V 1B5

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About Renforth

Renforth holds the Parbec open pit constrained gold deposit in Malartic Quebec, contiguous to the Canadian Malartic mine, with a 2020 resource estimate of 104,000 indicated ounces of gold at a grade of 1.78 g/t Au and 177,000 inferred ounces of gold at a grade of 1.78 g/t Au. This resource estimate is now considered by Renforth to be out of date due to the results received in a 15,569m drill program which has been recently completed. This program was planned to twin, infill and undercut existing drill holes at Parbec, to support a rebuild of the geological model and a resource estimate restatement. In addition to this Renforth has discovered a nickel bearing ultramafic, coincident with a copper/zinc VMS, over ~5km of strike in the western end of the 20km central anomaly at Renforth's wholly owned 215 km² Surimeau property. This prospect was discovered on surface and the subject of a very short, shallow drill program, a more robust drill program is planned for Spring 2021. Renforth also holds the Malartic West property, the site of a copper/silver discovery, and Nixon-Bartleman, west of Timmins Ontario, with gold present on surface over a strike length of ~500m. Renforth is well funded, with ~$6 million in cash and securities on hand (*as at 03/15/21), in addition to the gold contained in our gold deposit.

No securities regulatory authority has approved or disapproved of the contents of this news release.

Forward Looking Statements

This news release contains forward-looking statements and information under applicable securities laws. All statements, other than statements of historical fact, are forward looking. Forward-looking statements are frequently identified by such words as ‘may', ‘will', ‘plan', ‘expect', ‘believe', ‘anticipate', ‘estimate', ‘intend' and similar words referring to future events and results. Such statements and information are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the risks of obtaining necessary approvals, licenses and permits and the availability of financing, as described in more detail in the Company's securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and the reader is cautioned against placing undue reliance thereon. Forward-looking information speaks only as of the date on which it is provided and the Company assumes no obligation to revise or update these forward-looking statements except as required by applicable law.

SOURCE: Renforth Resources Inc.

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FAQ

What are the latest drill results for Renforth Resources (RFHRF)?

Renforth Resources reported drill results including PAR-20-115 with 1.65 g/t gold over 3.7m and PAR-20-123 with 7.03 g/t gold over 0.5m.

When will the new resource estimate for Parbec be released?

The new resource estimate for the Parbec gold deposit is expected to be completed in June/July 2021.

How much drilling was completed in the 2020 resource expansion program by Renforth (RFHRF)?

The 2020 resource expansion program completed a total of 15,569m of drilling.

What is the significance of the recent drill results for RFHRF investors?

The recent drill results suggest an increase in the overall gold endowment of the Parbec deposit, which may positively impact resource estimates and stock performance.