Taiga Gold Acquires Saskatchewan Gold Project

CRANBROOK, August 12, 2020 - Taiga Gold Corp. (CSE:TGC) ("Taiga") or (the "Company") has acquired by staking a block of claims that cover prospective gold mineralization. The 1677 hectare Mari Lake claim group is located within the Trans Hudson Corridor in Saskatchewan, approximately 25 kilometers northwest of Flin Flon, Manitoba. The claims cover 2 high grade gold mineral occurrences associated with Kisseynew Group volcanics which are documented in the Saskatchewan Mineral Deposit Index ("SMDI").

Property Geology and Mineralization

At the Naza (SMDI 2582) and Aga (SMDI 2641) occurrences gold mineralization is hosted by complexly folded rocks associated with iron sulphides and minor copper in stringer veins and micro-fracture infillings. The two showing are located approximately 2.8 kilometers apart and occur within the same stratigraphic unit. Historical grab samples taken by BHP Minerals Canada Ltd. returned values of up to 12.69 g/t Au from the Aga Showing and 14.4 g/t Au from the Naza Showing.

Rock grab samples are selective samples by nature and as such are not necessarily representative of the mineralization hosted across the property.

Humus samples collected by BHP suggest near-surface gold anomalies for at least 1km to the north of the Aga showing.

History

The Mari Lake area was first mapped by the Saskatchewan Government between 1949-51. The first recorded industry work was by Hudson's Bay Exploration and Development who completed a ground electromagnetic geophysical survey in the vicinity in 1964. Work in the area by BHP Minerals Canada Ltd. between 1989 and 1992 included airborne and ground geophysical surveys, followed-up with geological mapping, rock, lake sediment, and humus sampling. The follow-up work resulted in the discovery of the Aga and Naza occurrences.

The property has been tested with two diamond drill holes located 1.4 kilometers north of the Naza Showing and 1.3 kilometers west of the Aga Showing. Neither drill hole tested the target stratigraphy that hosts the gold mineralization.

The above results and information were taken directly from the SMDI descriptions and assessment reports filed with the Saskatchewan government. Management cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by a Qualified Person, but form a basis for ongoing work in the Mari Lake property area.

Charles C. Downie, P.Geo., a "qualified person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects and a Director of Taiga Cold Corp., has prepared, reviewed, and approved the scientific and technical disclosure in this news release.

About Taiga Gold Corp.

Taiga Gold Corp. was created through a plan of arrangement with Eagle Plains Resources Ltd. and owns 6 projects targeting gold in the area near the Seabee Gold Operation, owned and operated by SSR Mining. Taiga's flagship "Fisher" property is currently being explored by SSR Mining under option from Taiga.

Taiga's objective is to focus on the exploration and development of its gold projects located adjacent to the Seabee Gold Operation and along the Tabbernor Fault structure in eastern Saskatchewan, a highly-prospective mining jurisdiction which was recently recognized by the Fraser Institute as one of the highest-rated jurisdictions in the world in terms of Investment Attractiveness. Throughout the exploration and development process, our mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.

On behalf of the Board of Directors

"Tim J. Termuende"
President and CEO

For further information on TGC, please contact Mike Labach at
1 866 HUNT ORE (486 8673)
Email: info@taigagold.com (link sends e-mail) or visit our website at www.taigagold.com

Cautionary Note Regarding Forward-Looking Statements

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. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

SOURCE: Taiga Gold Corp.