HighGold Mining Drills 17.8 g/t Gold Equivalent over 75.1 meters and Discovers New Zone at Johnson Tract, Alaska, USA

75.1 meters at 10.0 g/t gold, 6 g/t silver, 0.6% copper, 9.4% zinc, 1.1% lead (40.6 meters estimated true width)

Vancouver, December 19, 2019 - HighGold Mining Inc. (TSXV: HIGH) ("HighGold" or the "Company") is pleased to report assay results for the final two (2) drill holes from the nine (9) hole drill program completed at the Company's flagship Johnson Tract Gold (Cu-Zn) property ("Johnson" or the "Property") in Southcentral Alaska, USA. The two holes were designed to better define the lower portion of the Johnson Tract deposit ("JT Deposit").

JT Deposit Highlights

• 75.1m at 10.0 g/t Au, 6 g/t Ag, 0.6% Cu, 9.4% Zn, 1.1% Pb (17.8 g/t AuEq) in hole JT19-090
  
  
  • Includes 20m at 29.0 g/t Au, 7 g/t Ag, 0.7% Cu, 3.5% Zn, 1.2% Pb (33.2 g/t AuEq)
    
    
• This intersection expands the zone of thickest and highest-grade mineralization 20 meters to the northeast (Figure 1) and is open on strike to further expansion

New Footwall Zone Discovery

• New silver-copper-zinc rich vein system discovered at depth in footwall to main JT Deposit
  
  
• 20.7m at 32 g/t Ag, 2.4% Cu, 4.9% Zn in hole JT19-089
  
  
  • Includes 7.0m at 66 g/t Ag, 4.7% Cu, 9.7% Zn

Intersections reported above as drilled length. For information on estimated true width, a full list of significant assay results, and gold equivalent ("AuEq") calculations see Table 1 below.

"The discovery of new, significant and distinctive mineralization in the footwall to the JT Deposit is a strong indication of the high exploration potential at Johnson," commented HighGold President & CEO, Darwin Green. "What makes it all the more encouraging is that the discovery was made during a first-pass drill program focused on deposit confirmation and expansion. Equally important, this step-out drilling has expanded the thickest and highest-grade portion of the JT Deposit, which remains open along strike and at depth."

"The 2019 exploration program exceeded expectations and has set the stage for an exciting 2020. We look forward to completing a maiden NI43-101 resource for the JT Deposit in the first half of the year and applying what we've learned from this initial exploration to a much larger exploration program next season. Meanwhile, HighGold is also preparing for a busy winter drill program on its Ontario gold assets located in the greater Timmins gold camp."

Discussion of Drill Results

Assay results are reported for drill holes JT19-089 and JT19-090, which tested for northeast extensions of the deeper parts of the JT Deposit. Both holes successfully intersected long intervals of mineralization (Table 1 and Figures 1, 2 and 3) with hole JT19-090 expanding the zone of greatest thickness and grade approximately 20 meters to the northeast. The strike length of the mineralized zone appears to widen with depth, where it is open to expansion to the northeast and southwest.

Drill hole JT19-089 was extended outside the modeled extents of the JT Deposit and discovered a new style of mineralization within the footwall at a depth of 300 meters below surface. Mineralization consists of an anastomosing swarm of silver, copper, zinc-rich quartz veins. Orientation of the vein system appears to be at high angle to the strike of the JT Deposit and may align with the kilometer-scale northerly-trending alteration zone mapped on surface, which to date has received virtually no prior drilling.

Table 1. Significant new Johnson Tract drill intersections

Notes: Estimated true width ("ETW") is the width of the zone perpendicular to dip as measured from cross-sections. Length-weighted intervals are uncapped and calculated based on a 2 g/t gold equivalent cut-off and less than 5 meters of dilution of below cut-off grade. Gold equivalent ("AuEq") is calculated by the same formula and assumptions used to report intersections for the Johnson Tract NI43-101 Technical Report (dated June 27, 2019) with metal prices of $1250/oz gold, $16/oz silver, $3.00/lb copper, $1.20/lb zinc, $1.00/lb lead and does not consider metal recoveries.

Next Steps at Johnson Tract

With all assay results now in hand for the 2,247-meter 2019 drill program, HighGold will combine new and validated historic drill data to develop a three-dimensional ("3D") geological model for the JT Deposit and initiate an initial NI43-101 compliant mineral resource estimate. The Company will also be reviewing all data to prepare a detailed drilling plan for the 2020 field season. Major drill priorities are expected to include:

i) Expansion of the JT Deposit,
ii) Testing the NE Fault Offset which is interpreted to be the fault-displaced depth continuation of the JT Deposit,
iii) Follow-up on the New Footwall Zone Discovery, and
iv) Other property-wide prospects.

About Johnson Tract Property

The 21,000-acre Johnson Tract property is located near tidewater, 125 miles (200 kilometers) southwest of Anchorage, Alaska, USA. It includes the very high-grade Johnson Tract Gold (Zn-Cu) deposit along with excellent exploration potential indicated by several other prospects over a 12-kilometer strike length. This project was last explored in the mid-1990s by a mid-tier mining company that evaluated direct shipping material from Johnson to the Premier Mill near Stewart, British Columbia. HighGold acquired Johnson through a lease agreement with Cook Inlet Region, Inc. ("CIRI") an Alaska Native regional corporation that is the largest private landowner within the Cook Inlet region.

About HighGold

HighGold is a well financed mineral exploration company with approximately $14M in working capital, focused on premier high-grade gold projects located in North America. HighGold's flagship asset is the high-grade Johnson Tract Gold (Zn-Cu) Project located in south-central Alaska, USA. The Company also controls a portfolio of quality gold projects in the greater Timmins gold camp, Ontario, Canada that includes the Munro-Croesus Gold property, which is renowned for its high-grade mineralization, and the large Golden Mile and Golden Perimeter properties. HighGold's experienced Board and senior management team, are committed to creating shareholder value through the discovery process, careful stewardship of capital, and environmentally/socially responsible mineral exploration.

On Behalf of HighGold Mining Inc.

"Darwin Green"
President & CEO

Ian Cunningham-Dunlop, P.Eng., VP Exploration for HighGold Mining Inc. and a qualified person ("QP") as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.

Samples of drill core were cut by a diamond blade rock saw, with half of the cut core placed in individual sealed polyurethane bags and half placed back in the original core box for permanent storage. Sample lengths typically vary from a minimum 0.5 meter interval to a maximum 2.0 meter interval, with an average 1.0 to 1.5 meter sample length. Drill core samples were shipped by air, transport truck and barge in sealed woven plastic bags to ALS Minerals laboratory facility in North Vancouver, BC for sample preparation and analysis. ALS Minerals operate according to the guidelines set out in ISO/IEC Guide 25. Gold was determined by fire-assay fusion of a 50 g sub-sample with atomic absorption spectroscopy (AAS). Samples that returned values >100 ppm gold from fire assay and AAS were determined by using fire assay and a gravimetric finish. Samples with visible gold or suspected of having exceptionally high grade were submitted for metallic screen gold analysis on a larger sub-sample. Various metals including silver, gold, copper, lead and zinc were analyzed by inductively-coupled plasma (ICP) atomic emission spectroscopy, following multi-acid digestion. The elements copper, lead and zinc were determined by ore grade assay for samples that returned values >10,000 ppm by ICP analysis. Silver was determined by ore grade assay for samples that returned >100 ppm.

For further information, please visit the HighGold Mining Inc. website at www.highgoldmining.com, or contact:

Darwin Green, President & CEO or Naomi Nemeth, VP Investor Relations
Phone: 1-604-629-1165 or North American toll-free 1-855-629-1165
Email: information@highgoldmining.com.
Website: www.highgoldmining.com
Twitter: @HighgoldMining

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.

Forward looking statements: This news release includes certain "forward-looking information" within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively "forward looking statements"). Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding future Johnson Tract exploration, the Company's Canadian gold projects and other future plans, objectives or expectations are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Company's expectations include actual exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements.

Figure 1 - Geological long section

* Previously released 2019 drill intersection
** Drilled length not true width. Gold equivalent ("AuEq") assumes $1250/oz Au, $16/oz Ag, $3.00/lb Cu, $1.20/lb Zn, $1.00/lb Pb and does not consider metal recoveries.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6437/50945_30dd0653a4143857_001full.jpg

Figure 2 - Geological cross section C-C'

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6437/50945_30dd0653a4143857_002full.jpg

Figure 3 - Plan map

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/6437/50945_30dd0653a4143857_003full.jpg

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/50945