SCOTTIE RESOURCES ANNOUNCES COMMENCEMENT OF 2024 DRILL CAMPAIGN

Rhea-AI Summary

Scottie Resources Corp. (TSXV: SCOT) (OTCQB: SCTSF) has commenced its 2024 drill program on the Scottie Gold Mine Project in BC's Golden Triangle. The $4.5 million program aims to advance multiple areas, including the Scottie Gold Mine, Blueberry Contact Zone, and D-Zone targets. The initial budget includes about 6,000 metres of drilling across multiple targets.

The company is also expanding its TerraSpec program to assess deposits in the Scottie Gold Mine and their relation to the adjacent Texas Creek intrusive. Additionally, Scottie will conduct greenfield exploration on the Georgia Project, where a new showing was discovered in 2023, and field work on the Cambria Project.

The Blueberry Contact Zone, located 2 km northeast of the past-producing Scottie Gold Mine, has shown significant potential with high-grade gold intersections and a drilled strike length of 1,550 metres.

Positive

• Commencement of 2024 drill program with $4.5 million budget
• Expansion of exploration to multiple promising areas
• New showing discovered in Georgia Project with high-grade gold sample (165 g/t)
• Blueberry Contact Zone extended to 1,550 metres strike length and >525 metres depth

Negative

• None.

VANCOUVER, BC, July 16, 2024 /PRNewswire/ - Scottie Resources Corp. ("Scottie" or the "Company") (TSXV: SCOT) (OTCQB: SCTSF) (FSE: SR8) is pleased to announce the commencement of its 2024 drill program on the Scottie Gold Mine Project, located in BC's Golden Triangle. Following the detailed exploration plan outlined in May 2024, the $4.5 million dollar program aims to advance multiple areas, including the Scottie Gold Mine, Blueberry Contact Zone, and D-Zone targets, while initiating drilling on new showings and historic sites.

President and CEO, Brad Rourke, commented: "With two drills turning, our program this year is set to efficiently build on Scottie's exploration successes at the Blueberry Contact Zone, the Scottie Gold Mine, and D-Zone. With a solid financial base and a clear strategy, we are well-positioned to capitalize on emerging opportunities in the area."

2024 Exploration Program

Drilling has commenced with one diamond drill targeting the Blueberry Contact Zone for expansion, and a fly-drill will focus on targets requiring helicopter access, e.g. D-Zone and the Scottie Gold Mine. Total initial meterage budgeted is about 6,000 metres, spread across multiple targets, the allocation being dependant upon initial field observations and results. The program is being developed with the ability to easily scale up, should the market conditions change.

The TerraSpec program (short-wave infrared spectroscopy) will be following up on positive initial results from a small pilot program on the Blueberry Contact Zone that indicated a link between clay/mica minerals and proximity to the high-grade ore shoots. The 2024 TerraSpec program will expand on these results in order to assess other deposits in the Scottie Gold Mine and their relation to the adjacent Texas Creek intrusive. The program will combine data from surficial transects, analysis of historic drill core, and the 2024 drill holes.

In addition to work on the Scottie Gold Mine Project, the company will be carrying out a concerted greenfield exploration program on the Georgia Project where a new showing was discovered in 2023. The showing is located 3 kilometres south of the historic Georgia River Mine where a grab sample hosting visible gold ran 165 g/t gold. The 1.5 metre wide, banded quartz-carbonate-chlorite vein is approximately 3 kilometres along strike of the historic Georgia River Mine. Additional field work is also planned on the Cambria Project which is located between Ascot's Premier Project and their Red Mountain deposit. The project hosts multiple small past-producing high-grade silver-rich polymetallic mines.

About the Scottie Gold Mine Project

Exploration of the Scottie Gold Mine Project over the past 5 years has produced exceptional drill results through the discovery of high-grade gold in four new zones (Blueberry Contact Zone, Domino, D-Zone, P-Zone) and the expansion of previously drill confirmed targets (Scottie Gold Mine, C-Zone, Bend Vein, Stockwork). When depicted on a map of property scale geology (Figure 1) there is a clear spatial relation between the outcropping and drill-confirmed high-grade gold targets and the contact with the Jurassic aged Texas Creek Plutonic suite intrusion. The new 2023 surface discovery of gold-rich vein style mineralization between the Scottie Gold Mine and the C & D-Zones further supports this relationship. Geological work in the area has established strong connections between the various deposits. The chemical, mineralogical, structural, and age relationships of the deposits and host rocks support a genetic model whereby all deposits are linked to the same mineralizing event.

About the Blueberry Contact Zone

The Blueberry Contact Zone is located just 2 kilometres northeast of the 100% owned, past-producing Scottie Gold Mine located in British Columbia, Canada's Golden Triangle region. Historic trenching and channel sampling of the Blueberry Vein include results of 103.94 g/t gold over 1.43 metres, and 203.75 g/t gold over 1.90 metres. Despite high-grade surficial samples and easy road access, the Blueberry Vein had only limited reported drilling prior to the Company's exploration work. The target was significantly advanced during Scottie's 2019 drill program when an interval grading 7.44 g/t gold over 34.78 metres was intersected in a new N-S oriented zone adjacent to the main Blueberry Vein. The drill results received from 2020 - 2023, coupled with surficial mapping and sampling suggest that the N-S mineralized trend is a first order structure that hosts an array of SW-trending, sub-parallel, sulphide-rich veins that obliquely crosscut it which host high-grade gold. As of the end of 2023, the extent of the N-S zone, defined by the contact between andesite and siltstone units of the Hazelton Formation and the presence of the cross-cutting sulfide-rich structures, has a drilled strike length of 1,550 metres and has been tested to >525 metres depth. The Blueberry Contact Zone is located on the Granduc Road, 20 kilometres north of the Ascot Resources' Premier Mine. Newmont's Brucejack Mine is located 25 kilometres to the north.

Quality Assurance and Control

Results from samples taken during the 2023 field season were analyzed at SGS Minerals in Burnaby, BC. The sampling program was undertaken under the direction of Dr. Thomas Mumford. A secure chain of custody is maintained in transporting and storing of all samples. Gold was assayed using a fire assay with atomic absorption spectrometry and gravimetric finish when required (+9 g/t gold). Analysis by four acid digestion with multi-element ICP-AES analysis was conducted on all samples with silver and base metal over-limits being re-analyzed by emission spectrometry.

Dr. Thomas Mumford, P.Geo., a qualified person under National Instrument 43-101, has reviewed the technical information contained in this news release on behalf of the Company.

ABOUT SCOTTIE RESOURCES CORP.

Scottie owns a 100% interest in the Scottie Gold Mine Property which includes the Blueberry Contact Zone and the high-grade, past-producing Scottie Gold Mine. Scottie also owns 100% interest in the Georgia Project which contains the high-grade past-producing Georgia River Mine, as well as the Cambria Project properties and the Sulu and Tide North properties. Altogether Scottie Resources holds approximately 58,500 hectares of mineral claims in the Stewart Mining Camp in the Golden Triangle.

The Company's focus is on expanding the known mineralization around the past-producing mines while advancing near mine high-grade gold targets, with the purpose of delivering a potential resource.

All of the Company's properties are located in the area known as the Golden Triangle of British Columbia which is among the world's most prolific mineralized districts.

Forward Looking Statements

This news release may contain forward–looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward–looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward–looking statements are based on the beliefs, estimates and opinions of the Company's management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward–looking statements whether as a result of new information, future events or otherwise.

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

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SOURCE Scottie Resources Corp.

FAQ

What is the budget for Scottie Resources' 2024 drill program?

Scottie Resources Corp. (SCTSF) has allocated $4.5 million for its 2024 drill program on the Scottie Gold Mine Project in BC's Golden Triangle.

How many metres of drilling are planned for Scottie Resources' 2024 program?

The initial budget for Scottie Resources' 2024 drill program includes approximately 6,000 metres of drilling across multiple targets.

What new discovery did Scottie Resources make on the Georgia Project in 2023?

In 2023, Scottie Resources discovered a new showing on the Georgia Project, where a grab sample hosting visible gold returned 165 g/t gold.

What is the current drilled strike length of the Blueberry Contact Zone?

As of the end of 2023, the Blueberry Contact Zone has a drilled strike length of 1,550 metres and has been tested to depths greater than 525 metres.