New Gold-Silver Discoveries on Surprise Creek

VANCOUVER, Sept. 30, 2019 - Mountain Boy Minerals Ltd. (“Mountain Boy” or the “Company”) (TSX.V: MTB; Frankfurt: M9UA) reports further new discoveries on the Surprise Creek project, located in the Golden Triangle of British Columbia, 35 km northeast of the deep-water port of Stewart, BC. Results from the first batch of prospecting samples from the summer field program have extended the known mineralized zones and identified additional zones of interest in this emerging VMS district.

Highlights:

• Assays from the Grunwald zone assaying up to 6.1 g/t gold and 196 g/t silver as well as base metal values of up to 0.111% copper, 1.49% lead and 15.1% zinc.
• Extension of the Ataman base metal - barite zone 700 metres to the south (Upper Ataman), with up to 0.3% copper, 5.46% lead, 1.24% zinc, 147g/t silver and 1.04 g/t gold.
• Two new base metal zones north of the Ataman zone with up to 17.3% lead, 6.45% zinc and 126 g/t silver.

The Surprise Creek property encompasses 100 sq km, beginning 3-kilometres north of Highway 37. The historic high-grade silver Goat Mine borders the property to the south. Exploration by multiple companies over a period of decades has identified numerous silver-gold-base metal occurrences on the property. Work by the Mountain Boy geological team over the past year, along with input from a leading authority in this type of geology (Dr. Bruce Gemmell) supports a geological model of an extensive VMS district encompassing the Surprise Creek property as well as MTB’s extensive BA property, located south of the highway.

The Surprise Creek and the BA properties are underlain by Jurassic Lower Hazelton intermediate and felsic volcanic rocks and Upper Hazelton clastic sedimentary rocks. Volcanogenic massive sulphide horizons and related feeder zones have been identified on the property and consist of barite, pyrite, sphalerite, galena, chalcopyrite, with significant silver and gold values. Mineralization has been traced along a north trending zone for eight kilometres extending from the historic Goat Mine in the south, through the Grundwald, Upper Ataman and Ataman showings and the newly discovered showings located on the next two ridges to the north.

The showings are believed to be hosted in the same package of rocks as the historic Eskay Creek deposit located 70 kilometres to the northwest, which exploited a stratiform volcanogenic massive-sulphide deposit at the base of the Salmon River Formation and produced 2.18 million tonnes of ore with an average grade of 46 g/tonne Au and 2267 g/tonne Ag (BC Geological Survey 2008). The contact between the Salmon River Formation and the underlying Mount Dillworth Formation has been mapped on the MTB property.

Select sample results are presented in Table 1.

Table 1: Select rock samples.

Assays are still pending for 82 rocks samples.

The Surprise Creek Project is drill ready with identified targets and a drilling permit in place.

The technical disclosure in this release has been read and approved by Andrew Wilkins, B.Sc., P.Geo., a qualified person as defined in National Instrument 43-101.

On behalf of the Board of Directors:

Lawrence Roulston
President & CEO
(604) 914-2142

For further information, contact:
Nancy Curry
VP Corporate Development
(604) 220-2971

Neither the 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.