Cleghorn Minerals Ltd. Reports Drill & Surface Stripping Program Update - Meech Lake Prospect

VAL-D’OR, Aug. 30, 2018 - Cleghorn Minerals Ltd. (“Cleghorn” or the “Company”) (TSX-V: CZZ) is pleased to provide an update on the diamond drilling and surface stripping program conducted over the Meech Lake Prospect, located in Northeastern Ontario, within the Abitibi Greenstone Belt.

The program focused on testing for the strike and depth extensions of historical mineralization previously defined by the Kell’s, Waterhole and T25 showings, where recently completed sampling by Cleghorn identified and confirmed the presence of two separate and distinct mineralized systems (Au-Zn and Ni-Cu-PGE) on the property. Selective grab sample assay results from the sampling program of the historical pits and trenches on the property included:

8.31% Cu, 3.80% Ni, 13.5 g/t Pt, 60.4 g/t Pd & 1.89 g/t Au (Kell’s Showing)

7.01 g/t Au, 31.2 g/t Ag, 2.25% Zn (Waterhole Showing)

0.268 g/t Au, 2.1 g/t Ag, 2.17% Zn (T25 Trench Showing)


HISTORICAL EXPLORATION REVIEW:

The area of the present-day Meech Lake Prospect has a long history of mineral exploration dating from the early 1930's and has been staked over the years because of interest in its polymetallic (gold, and Ni-Cu-PGE) mineral deposit potential. In the early 1930's, prospector Hugh Kell’s discovered the so-called “Waterhole” gold/zinc showing on the property. Persistent trenching in 1946 exposed a massive-sulphide bearing ultramafic “dunite” dike hosting highly anomalous grades of copper, nickel, platinum, and palladium in the west-central part of the property, the so-called “Kell’s Showing”.

Subsequent exploration drilling in 1951-52 and 1973-74 was unsuccessful in expanding the Kell’s Showing along strike but did identify new gold mineralization at the Waterhole Showing. Later work indicated that the dunite dike hosting the Kell’s Showing extends to the southwest (West Dunite Showing), and also inferred that the gold-zinc and gold occurrences (Waterhole Showing) may be related to a northeast-striking shear zone. The dunite form the Kell’s Showing was described as being completely altered to talc + calcite + serpentine (Szetu, 1974; AFRI: 42A02SW0098).


DRILL AND SURFACE STRIPPING PROGRAM SUMMARY:

Drill testing of the Kell’s, Waterhole and T25 showings was primarily based on a geological targeting methodology following completion of a comprehensive compilation of the property’s historical exploration work and results. Additional detailed ground geophysical surveying (magnetics and horizontal loop electromagnetic - HLEM or Max-Min) results, also provided additional targeting information with respect to the on-strike and depth extensions of the Kell’s, Waterhole and T25 showings and potentially new mineralized zones. The results of this work identified drill targets based on a new ore deposit model on the property, with a particular emphasis on a structural control component to the mineralization, verses solely on lithological targeting that was the basis of historical exploration campaigns.

The drill program consisted of seventeen (17) drillholes totalling 1,836 metres. Assay results for the individual holes will be released in batches once results have been received from the analytical laboratory and compiled.


Table I: Summary of Diamond Drilling: Meech Lake Prospect

DDH Pad	Hole	Zone / Target	Easting	Northing	Azimuth	Dip	Length
1	ML-18-001	Waterhole	513357	5327455	335	-45	81
1	ML-18-002	Waterhole	513357	5327455	335	-75	93
2	ML-18-003	Waterhole	513401	5327457	335	-45	81
2	ML-18-004	Waterhole	513401	5327457	335	-75	102
3	ML-18-005	Waterhole	513324	5327457	335	-45	81
3	ML-18-006	Waterhole	513324	5327453	335	-75	102
4	ML-18-007	HLEM Conductors (3)
(Northeast of Kell's)	513252	5327728	228	-45	198
4	ML-18-008	Kell's	513252	5327728	315	-45	81
4	ML-18-009	Kell's	513252	5327728	315	-75	150
5	ML-18-010	Kell's	513233	5327724	315	-45	87
5	ML-18-011	Kell's	513233	5327724	315	-75	102
5	ML-18-012	HLEM Conductors (2)
(West of Kell's)	513233	5327724	228	-45	102
6	ML-18-013	HLEM Conductors (2)
(West of Kell's)	513227	5327652	228	-45	72
7	ML-18-014	T25 + HLEM
Conductors (3)	513249	5327623	228	-45	99
7	ML-18-015	T25+ HLEM
Conductors (3)	513249	5327623	228	-75	132
8	ML-18-016	HLEM Conductors (2)
(Between
Waterhole & T25)	513274	5327579	228	-45	99
8	ML-18-017	HLEM Conductors (2)
(West of & between
Waterhole & T25)	513274	5327579	228	-65	174

In addition, a borehole electromagnetic survey was completed on holes ML-18-008 and ML-18-009 (Kell’s Showing) testing for the down-plunge extensions of the surface exposed massive sulphide mineralization.

In conjunction with the drill program, a campaign of stripping of selective historical pits and trenches was completed to take advantage of access conditions. A total of seven excavations was completed with three (3) on and over the western inferred strike extensions respectively of the Kell’s Showing, one (1) on the T25 Showing, one (1) on a historical trench between the T25 and Waterhole showings, one (1) on the Waterhole Showing, and one (1) on the Cabin Showing.


FUTURE EXPLORATION PLANS:

Planning for a follow-up field exploration program is ongoing. The focus of the work will be directed to the seven (7) excavated historical pits and trenches. The objective of this work program will be to re-examine, characterize and to identify possible strike extensions of the defined mineralization for delineation of future drill targets. The program is expected to consist of the following work stages:

- Cleaning, surveying (incl. 2018 drillholes) and detailed mapping and sampling; and

- Establishment of detailed mini-grids over the pits and trenches to conduct geophysical (magnetic, IP and electromagnetic) surveying.

Cleghorn has received an Exploration Permit from the Ministry of Northern Development and Mines (MNDM) to encompass the stripping and diamond drill program. In addition, as part of the Company’s corporate social responsibilities and through the Aboriginal consultation process, an Exploration Agreement Memorandum of Understanding has been negotiated with the Matachewan First Nation (MFN) and the Wabun Tribal Council. Negotiations are currently on-going towards finalizing and signing a joint Exploration Agreement (EA).

All previously reported grab sample assay results were completed by ALS Minerals, an accredited mineral analysis laboratory. Sample preparation was completed in Val-d'Or, Québec and analyses in Vancouver, British Columbia. Nickel, copper, cobalt, zinc and silver values were determined by a 61 element, Four Acid / ICP-AES analysis and gold values were determined by a 30-gram fire assay and AAS finish. Platinum, palladium and gold values were determined by 30-gram fire assay with ICP finish. When samples received over-limit values they underwent further analysis using ALS Minerals assay procedure Ni-OG62 (for nickel), Cu-OG62 (for copper), Zn-OG62 (for zinc), and PGM-ICP27 (for gold, platinum and palladium). The reader is referred to: www.alsgobal.com for details of analytical procedures described above.

Michael P. Rosatelli, P.Geo. and senior consultant to Cleghorn, is the designated “qualified person” as defined in Section 1.2 in and for the purposes of National Instrument 43-101 that reviewed and approved the technical content of this release.


Additional Property Acquisitions:

Cleghorn is continuing due diligence on several property opportunities, both in Canadian and international jurisdictions, and will provide additional information should the examinations lead to favourable conclusions and affordable transactions.


About Cleghorn Minerals Ltd.:

Cleghorn is a junior mineral exploration company with a 100% interest in the Meech Lake Prospect, a property located in northeastern Ontario, subject to an aggregate 3.5% NSR.



For additional information, please contact:

Cleghorn Minerals Ltd.
Glenn J. Mullan, President, Chief Executive Officer, Secretary and Director
Telephone: (819) 824-2808 – Head Office
(514) 835-8384 – Cell



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

This news release contains certain statements that may be deemed “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 Cleghorn 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 Cleghorn’s management on the date the statements are made. Except as required by law, Cleghorn undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.