Drilling Resumes at Fisher Gold Project, Saskatchewan

Rhea-AI Summary

Taiga Gold Corp has resumed drilling at its Fisher Project, located in Saskatchewan's Trans Hudson Corridor. The current program aims to drill 2,000m across 7 holes. Previous winter drilling yielded 1,157m across 4 holes, focusing on gold mineralization. Since optioning Fisher in 2016, SSR Mining has invested over CDN$12.5M in exploration and drilling. The Orchid Project also saw 12 holes drilled. Taiga holds a 2.5% royalty on Fisher and anticipates results from both projects soon.

Positive

• Drilling resumed at Fisher Project with a planned 2,000m program.
• SR Mining has invested over CDN$12.5M in Fisher since 2016.
• Taiga holds a 2.5% royalty on the majority of Fisher claims.

Negative

• Results from previous drilling at Fisher and Orchid are still pending, creating uncertainty.
• Possible delays in obtaining results may affect investor confidence.

CRANBROOK, BC / ACCESSWIRE / June 3, 2021 / Taiga Gold Corp (CSE:TGC) ("Taiga" or the "Company") is pleased to report that drilling activity has resumed at the Fisher Project (the "Property") located within the Trans Hudson Corridor ("THC") 125km east of La Ronge, Saskatchewan. The Property is contiguous to the north, south and east with SSRM's Seabee Gold Operation and is owned and operated by the Fisher Joint Venture ("Fisher JV"), comprised of 80% ownership by SSRM and 20% by TGC. Mobilization is now underway at Fisher, with the program expected to consist of 2,000m in 7 holes.

See Taiga Project Location Map here

As reported May 6^th, 2021, the Fisher JV completed 1,157m of HQ diamond drilling in 4 holes during the winter of 2021, with activity focused on defining gold mineralization at the Mac and Mac North zones. Six holes were collared, with two holes abandoned due to excessive deviation near the top of the drillholes. Due to recently implemented analytical protocols, approximately 130 samples were sent to an umpire laboratory for check analysis. Complete results from the winter program are pending and will be reported when they have been received, compiled, assessed for QAQC and interpreted.

See Fisher Drill Location Map here

See Fisher Project Summary Map here

Since optioning the Fisher Property in 2016, SSRM has completed extensive systematic exploration including prospecting, soil geochemical sampling, detailed geological mapping, geophysical surveys and completed a total of 35,740m (117,257') of drilling in 91 holes for expenditures totalling over CDN$12,500,000, resulting in over 15,000 individual core samples collected. In addition, SSRM has made cash payments to Taiga and predecessor Eagle Plains Resources totalling CDN$3,800,000. Taiga holds a 2.5% royalty on the majority of claims comprising the Fisher property, subject to underlying royalties on certain dispositions. The royalty includes a $100,000 annual advance royalty payment.

Update on Orchid Drill Program

Drilling activity has recently been completed on Taiga's 100% owned Orchid Project located within the Trans Hudson Corridor 120km east of La Ronge, Saskatchewan and 70km south of SSR Mining's Inc.'s Seabee Gold Operation ("SGO"). The Orchid property consists of 7,900ha overlying the same structural features and within rocks similar to those currently being mined at SGO. Management cautions that past results or discoveries on proximate lands are not necessarily indicative of the results that may be achieved on the Orchid property.

See Orchid Project Summary Map here

12 holes were successfully completed for a total footage of 2,139m (7,015'). Complete results from the program are pending and will be reported when they have been received, compiled, assessed for QAQC and interpreted.

Charles C. Downie, P.Geo., a "qualified person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, and a Director of Taiga Gold Corp., has reviewed and approved the scientific and technical disclosure in the news release.

About Taiga Gold Corp

Taiga Gold Corp was created through a plan of arrangement with Eagle Plains Resources Ltd. and owns 6 projects targeting gold located within the Trans Hudson Corridor in the area near the Seabee Gold Operation, owned and operated by SSR Mining. Taiga's flagship "Fisher" property is currently being explored by the Fisher Joint Venture between SSR Mining and Taiga. Taiga's 100%-owned Leland, Chico and SAM properties are currently under option to partners SKRR Exploration, Aben Resources and Tactical Resources (formerly DJ1 Capital), respectively. Taiga continues to advance its 100%-owned Orchid and Mari Lake projects.

Taiga's objective is to focus on the exploration and development of its gold projects located adjacent to the Seabee Gold Operation and along the Tabbernor Fault structure in eastern Saskatchewan, a highly prospective mining jurisdiction which was recently recognized by the Fraser Institute as one of the best places in the world in terms of Investment Attractiveness. Throughout the exploration and development process, our mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.

On behalf of the Board of Directors

"Tim J. Termuende"
President and CEO

For further information on TGC, please contact Mike Labach at
1 866 HUNT ORE (486 8673)
Email: info@taigagold.com or visit our website at http://taigagold.com

Cautionary Note Regarding Forward-Looking Statements

Neither the CSE nor any other regulatory body has reviewed or approved the contents of this news release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming financings, work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

SOURCE: Taiga Gold Corp.

View source version on accesswire.com:
https://www.accesswire.com/650195/Drilling-Resumes-at-Fisher-Gold-Project-Saskatchewan

FAQ

What is the current drilling status of Taiga Gold Corp's Fisher Project?

Drilling has resumed at Taiga Gold Corp's Fisher Project, with a planned program of 2,000m.

What investment has been made at the Fisher Project since 2016?

SSR Mining has invested over CDN$12.5 million in the Fisher Project since 2016.

What royalty does Taiga Gold Corp hold on the Fisher Project?

Taiga Gold Corp holds a 2.5% royalty on the majority of claims at the Fisher Project.

What results are pending from the recent drilling programs?

Complete results from both the Fisher and Orchid projects are pending and will be reported once analyzed.

How many holes were drilled at the Orchid Project?

A total of 12 holes were successfully drilled at the Orchid Project.