Winston Gold to Commence First Drill Program on Hard Cash Property

Rhea-AI Summary

Winston Gold Corp. (CSE:WGC)(OTCQB:WGMCF) announces an exploration drilling program on the Hard Cash joint venture property near Radersburg, Montana. This property, acquired via a lease-to-own deal with Bond Resource Inc., previously produced 1,032 ounces of gold. The initial drilling will include six holes over 488 meters, targeting both the historic vein and a newly identified vein structure with promising assay results of 4.29 g/t gold. The aim is to assess gold mineralization continuity and further drilling phases will depend on initial results.

Positive

• Commencement of exploration drilling on Hard Cash property reflects active project development.
• Initial drilling targets high-potential areas with historical gold production.
• Proximity to Paradine Mill Facility (4.3 miles) enhances operational efficiency.

Negative

• None.

WINNIPEG, MB / ACCESSWIRE / May 13, 2021 / Winston Gold Corp. ("Winston Gold" or the "Corporation") (CSE:WGC)(OTCQB:WGMCF) is pleased to announce that the Company and Bond Resource Inc. (Bond) (BJB) have plans to start an initial phase of exploration drilling on the Hard Cash joint venture Property located about three miles outside the town of Radersburg, Montana.

The Hard Cash property is being acquired in a lease-to-own deal that is held within a 50/50 joint venture between Winston Gold and Bond Resources (refer to news release dated February 11, 2021). The property was mined pre-WWII on a small scale, producing only 1,032 ounces of gold from 1,007 tons of mineralized rock.

"What attracted us to this property were the geological similarities it has to the vein system we are mining on the Winston property, which is located just 17.5 miles to the north," commented Murray Nye, CEO and Director of Winston Gold. "An additional benefit is the fact that the Hard Cash property is located only 4.3 miles from our Paradine Mill Facility."

A total of six holes, or 488 metres (1,600 ft), of drill core is planned to be drilled from two locations. Three holes will target the area beneath the historic workings of the Hard Cash vein system. The remaining three holes will test a portion of a newly identified subparallel vein structure. This new vein was identified via a surface chip sample that assayed 4.29 g/t gold (0.175 oz per ton gold).

Based on the initial due diligence work performed on the Hard Cash Property, the Company believes that the project still hosts unmined gold mineralization. The goal of the initial drilling campaign will be to determine the continuity of gold mineralization on the Hard Cash Vein over an initial strike length of 61 metres (200 ft) and vertical depth extent of 41 metres (135 ft). In addition, the newly identified sub-parallel structure will also be tested over a strike length of 61 metres (200 ft), and to a vertical depth of 30 metres (100 ft).

Additional phases of drilling will be assessed after the Phase 1 drill program is complete.

Qualified Person

The scientific and technical content and interpretations contained in this news release have been reviewed, verified and approved by Dr. Criss Capps PhD. P.Geol., an independent consultant to Winston Gold Corp. Dr. Capps is a Qualified Person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Bond Resources: Bond is a mineral resource company that holds the contractual rights to acquire the Mary K mine in the Elk City mining district of Idaho. The Company will focus on near-term production and rediscovery at the high-grade historic mine. Led by industry veterans and located in the mining friendly jurisdiction of Idaho, USA, Bond Resources combines the technical expertise of industry experts and a transparent communications model to increase shareholder value.

About Winston Gold

Winston Gold is a junior mining company focused on advancing high-grade, low-cost mining opportunities into production. Towards that end, the Corporation has acquired the under-explored and under-exploited Winston Gold project near Helena, Montana.

The CSE has neither approved nor disapproved the information contained herein. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Forward-Looking Information

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Winston Gold Mining Corp. (the "Company") expects to occur, are 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 the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

For more information, please visit www.winstongoldmining.com; or contact:

Murray Nye
Chief Executive Officer and a Director of Winston Gold
Suite 201-919 Notre Dame Avenue
Winnipeg, Manitoba, R3E 0M8
Telephone: (204) 989-2434
E-mail: murray@winstongold.com

SOURCE: Winston Gold Corp.

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https://www.accesswire.com/647143/Winston-Gold-to-Commence-First-Drill-Program-on-Hard-Cash-Property

FAQ

What are the drilling plans of Winston Gold Corp. on the Hard Cash property?

Winston Gold plans to start an initial phase of exploration drilling with six holes totaling 488 meters.

What is the significance of the Hard Cash property for Winston Gold Corp.?

The Hard Cash property has historical gold production and geological similarities to Winston's other projects, making it a valuable addition.

What assay results were found during the due diligence of the Hard Cash property?

A surface chip sample from the newly identified vein structure assayed 4.29 g/t gold.

When is the drilling program scheduled to begin?

The drilling program is set to commence shortly as per the announcement on May 13, 2021.

How far is the Hard Cash property from Winston Gold's Paradine Mill Facility?

The Hard Cash property is located approximately 4.3 miles from the Paradine Mill Facility.