Black Tusk Resources Inc. Completes Data Compilation MoGold Project, Val d’Or, Quebec

VANCOUVER, July 29, 2020 - Black Tusk Resources Inc. ("Black Tusk" or the "Company) (CSE:TUSK)(OTC:BTKRF)(FRANKFURT:0NB) is pleased to announce that data compilation has been undertaken on its MoGold property located 22 kilometres north of Val d'Or, Quebec.

The MoGold property covers 1,964 hectares over 21 claims, and adjoins Black Tusk's PG Highway Platinum / Paladium project.

The comprehensive data compilation included downloads from a variety of publicly available sources, including Gestion des titres miniers (Mineral Titles - GESTIM) and Système d'information géominière du Québec (Geological Information System - SIGEOM). Included in this data are regional geology, mineral showings, drill hole locations and summaries, regional airborne magnetics, and regional rock and soil sample results. The review also includes historic work assessment reports that are available from the SIGEOM website.

As reported in a previous Black Tusk news release, the MoGold claims cover the historic Boily-Bérubé mineral showing. The Boily- Bérubé is described as being located on the western contact of the La Corne batholith. The showing consists of a massive vein of cherty quartz containing fine grains of pyrite, chalcopyrite and molybdenite. The veins trend along the western contact of a quartz porphyry intrusion highly mineralized with very fine-grained pyrite. Excavating on the showing carried out in 1989 revealed a pegmatititic quartz vein containing 10 to 30% molybdenite, pyrite and traces of chalcopyrite and malachite.

The MoGold claims cover 8 historic drill holes that were completed by Sullico Mines Ltd. in 1971-1972 and Falconbridge Inc. in 2004. Review of the reports that summarize this drilling include drill logs and assay tables. A table summarizing drill hole locations is provided below.

Five drill holes completed in 1972 did not have associated geochemical analysis or drill logs provided in the reference reports. The below table summarizes the more significant values that were returned from drill core sample analysis, sorted by highest to lowest copper value.

1. -99 indicates that no analysis was performed
2. All values are as reported in assessment reports (GM report) and are not to be relied upon other than for historic compilation
3. Sample intervals are downhole intercepts only and do not reflect actual width of the mineralized body.

The highest gold value of 0.173 grams per tonne was from drill hole FIE-15-02 from 126.5 to 127 metres downhole depth. Strong correlation of elevated gold with silver, copper and zinc is apparent from these results. Also, bismuth has correlation with elevated gold, silver, and copper. The highest molybdenum value of 5800 ppm occurs in hole F71-1 from 130.14 to 131.06 metres downhole depth.

The property is underlain by basaltic volcanoclastic rocks that trend across this part of the Abitibi geological belt. Komatiite and other ultramafic rocks are contained within the basalts. To the northwest of the property, the mafic rocks are in contact with monzonite and granodiorite intrusive rocks.

The regional magnetic mapping indicates that a number of magnetic highs occur within the property. These are likely related to magnetite within the ultramafic rocks that have been mapped in the area. Elevated nickel values have been returned from some of the historic drill core (up to 2030 ppm Ni from hole FIE-15-04-01, 189.1-190.6 metres downhole). These might be associated with the Komatiite intrusions.

Black Tusk will continue to analyze and add to the historic information database. TUSK geological team is expected to be on the ground in late summer to early fall in order to locate and possibly sample the Boily-Bérubé mineral showing with a focus on gold.

Black Tusk will continue to confer with their geologic support team that includes Dr. Mathieu Piché who is also a director of the company. His experience exploring this region of Quebec is a great asset to the company in planning and executing their work programs on the MoGold property, as well as the other Black Tusk projects based in Quebec (which now includes MoGold, McKenzie East gold, Golden Valley, PG Highway (PGE), and Lorrain (PGE).

About Black Tusk Resources Inc.

Black Tusk Resources is a gold-focused Canadian exploration company with operations primarily based in the world-class Abitibi greenstone belt region of Quebec. Black Tusk currently holds 100-per-cent ownership in six separate gold and platinum/palladium properties in Canada.

On behalf of the board of Directors

Richard Penn
CEO
(778) 384-8923

Cautionary Statement

This press release contains forward-looking statements based on assumptions as of that date. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to exploration and development; the ability of the Company to obtain additional financing; the Company's limited operating history; the need to comply with environmental and governmental regulations; fluctuations in the prices of commodities; operating hazards and risks; competition and other risks and uncertainties, including those described in the Company's Prospectus dated September 8, 2017 available on www.sedar.com. Accordingly, actual and future events, conditions, and results may differ materially from the estimates, beliefs, intentions, and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

SOURCE: Black Tusk Resources Inc.