Renegade Gold Expands Exploration Activity at Red Lake, Ontario; Mobilizes Crews to Regional Targets

Rhea-AI Summary

Renegade Gold Inc. (TSXV: RAGE) (OTCQX: TGLDF) has expanded its surface exploration campaign in Red Lake, Ontario. Key activities include:

1. A 20-day campaign at the Willis property, investigating potential extensions of the Newman Todd structure.

2. A 30-day exploration of gold-bearing structures in the Birch Uchi region at the Swain and Satterly projects.

3. Completion of a fixed-wing Lidar survey over select Red Lake properties, with results pending.

4. Awaiting final results from the 25,000 m drill campaign at Newman Todd.

CEO Nav Dhaliwal expressed excitement about the Willis project's potential to host significant extensions of the Newman Todd mineralized system.

Positive

• Expansion of surface exploration campaign in Red Lake, Ontario
• 20-day campaign at Willis property to investigate potential mineralization extensions
• 30-day exploration of gold-bearing structures in Birch Uchi region
• Completion of Lidar survey to enhance exploration at regional targets
• 25,000 m drill campaign at Newman Todd with results pending

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - August 14, 2024) - Renegade Gold Inc. (TSXV: RAGE) (OTCQX: TGLDF) (FSE: 070) ("Renegade" or the "Company") is pleased to announce the expansion of the surface exploration campaign at its Red Lake gold projects in northwest Ontario. Field crews have been deployed to key regional targets to conduct comprehensive prospecting, mapping and sampling activities. Of particular importance, a 20-day campaign will focus on the Willis property, adjacent to Renegade's Newman Todd project, investigating potential extensions of mineralization in the Newman Todd structure. Additionally, a 30-day exploration campaign will target the gold bearing structures of the Birch Uchi region present on the Swain and Satterly projects.

New Lidar Survey Complete - Results Pending. Renegade has completed a fixed-wing Lidar survey over select Red Lake properties. This airborne survey technique utilizes laser pulses to provide precise ground elevation data. Previous Lidar surveys have enabled the Company to identify key structural corridors associated with regional gold mineralization and have accelerated the mapping process by improving outcrop detection. Results are pending and will be integrated with existing Lidar data, geophysics and other field data to enhance exploration at regional targets.

Drilling Campaign Update. Final results from the 25,000 m drill campaign at Newman Todd are pending and will be announced when available.

Nav Dhaliwal, President and CEO for Renegade, commented, "As we await the final assays from our incredibly successful drill program at Newman Todd, we are commencing field work at our highest priority targets on three other projects in Red Lake. We are particularly excited at the possibilities for our Willis project, which lies immediately adjacent southwest to Newman Todd. We believe Willis has the potential to host significant extensions of the mineralized system present on Newman Todd, and we look forward to sharing results when received."

Figure 1. Renegade Gold projects in Red Lake, Ontario.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9850/219851_a6a6211894c7fb2f_001full.jpg

The technical content of this news release has been reviewed and approved by Dale Ginn, P.Geo., the Executive Chair and director of the Company and a Qualified Person pursuant to National Instrument 43-101.

About Renegade Gold Inc.

Renegade Gold Inc. is a growth focused company engaged in the business of acquisition, exploration and development of mineral properties located in the Red Lake Mining District of Northern Ontario. As part of its regional-scale consolidation strategy, the Company has assembled one of the largest prospective land packages in and around the Red Lake mining district in proximity to major mines and deposits, as well as along the Confederation Lake and Birch-Uchi greenstone belts. The 89,600 hectares prospective and diversified exploration portfolio has significant potential for gold and critical minerals on trend with the major structures hosting known gold occurrences in the Red Lake mining district today,

For further information, please contact:

Renegade Gold Inc.

Nav Dhaliwal
President, CEO and Director

info@renegadegold.com
Tel: 604-678-5308

Neither 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 release.

Cautionary Note regarding Forward-Looking Statements

Statements contained in this press release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. The words "anticipate," "significant," "expect," "may," "will" and similar expressions are intended to be among the statements that identify Forward-Looking Information. Forward-Looking Information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. In preparing the Forward-Looking Information in this news release, the Company has applied several material assumptions, including, but not limited to, assumptions that general business and economic conditions will not change in a materially adverse manner and all requisite information will be available in a timely manner. Factors that may cause actual results to vary materially include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, currency fluctuations, unanticipated operational or technical difficulties, risks related to unforeseen delays; general economic, market or business conditions, regulatory changes; timeliness of regulatory approvals, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this Forward-Looking Information. The Company does not assume the obligation to revise or update this Forward-Looking Information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/219851

FAQ

What is Renegade Gold's latest exploration activity in Red Lake, Ontario?

Renegade Gold (TGLDF) has expanded its surface exploration campaign in Red Lake, Ontario, deploying field crews to conduct prospecting, mapping, and sampling activities at key regional targets, including a 20-day campaign at the Willis property and a 30-day exploration in the Birch Uchi region.

Has Renegade Gold completed any recent surveys in Red Lake?

Yes, Renegade Gold (TGLDF) has recently completed a fixed-wing Lidar survey over select Red Lake properties. The results are pending and will be integrated with existing data to enhance exploration at regional targets.

What is the status of Renegade Gold's drilling campaign at Newman Todd?

Renegade Gold (TGLDF) has completed a 25,000 m drill campaign at Newman Todd. The final results from this campaign are pending and will be announced when available.

Which specific properties is Renegade Gold exploring in the Red Lake area?

Renegade Gold (TGLDF) is exploring several properties in the Red Lake area, including the Willis property adjacent to Newman Todd, and the Swain and Satterly projects in the Birch Uchi region.