Stuhini Exploration Ltd. Identifies Multiple Silver Targets at Ruby Creek

The prospective silver targets were generated as a result of on-going compilation and review of historic exploration data this past winter by Company geologists along with results from due diligence conducted on the property and a recent SkyTEM airborne geophysical survey.

Dave O'Brien, Company President and CEO commented: "With the recently completed Technical Report on the gold prospectivity and the historical Adanac molybdenum deposit, the Ruby Creek Project has historically been viewed as a gold and molybdenum property. However, geologist data compilation over the past winter coupled with last year's diligence visits and this year's prospecting programs have highlighted that the silver prospectivity of the property is becoming more evident. Company geologists and field assistants are currently in the process of ground truthing, geological mapping, soil sampling, rock sampling and trenching selected targets. The recently completed SkyTEM airborne geophysical is proving to be a valuable tool in helping to guide the structural interpretation and in prospecting targets within the property. Samples collected thus far have been sent to assay labs in Whitehorse and assay results are expected soon."

Ruffner Area

The Ruffner area is located in the northwestern portion of the tenures immediately east and south of the past producing Atlin Ruffner silver mine. The mine was an intermittent producer from 1916 to 1981, with an average grade of 0.42 gram per tonne (g/t) gold, 267 g/t silver and 5% combined lead-zinc. Historic unclassified reserves from the two zones from which underground development and production took place are 113,638 tonnes grading 600 g/t silver and 5.0% lead (MINFILE No 104N 011 - assessment report 18646 dated July 1985). These are historical estimates for which a qualified person has not done sufficient work to classify as current mineral resources or mineral reserves. The Company is not treating this information as current mineral resources or reserves, has not verified this information and is not relying on it. The Company currently does not plan to conduct any work to verify the historical estimates other than using it to guide its exploration work.

The identified mineralized bearing structures extend eastward onto Stuhini's claims and numerous mineralized zones have been discovered including the Brenda, Wheelbarrow, Vulcan, Wolf, Wallis and Hopeful prospects.

Adanac Moly Deposit (Drill Hole AD-408) and Adera Zone

While reviewing assay data and drill logs from the historic Adanac molybdenum resource drilling, it was noted that a strong northeast trend of significant anomalous silver, gold, copper, lead, zinc, arsenic, cadmium and antimony occurred in the northern part of the drilled deposit. In particular, drill hole AD-408 and AD-409, drilled by Adanac Molybdenum Corp., as reported in a Mineral Resource Update Report dated May 28, 2009 prepared by Golder Associates, had 3.05 metre intersections greater than the detection limit of 200 grams per tonne silver. Drill hole AD–408 also had five 3.05 metre intersections with greater than the detection limit of 1% for both lead and arsenic. The hole assayed 74.5 g/t silver, 0.945 g/t gold, 0.07% copper, 529 g/t antimony, 206 g/t molybdenum and 103 g/t tungsten over 30.5 metres. The same intersection assayed at least 0.79% lead, 0.53% zinc, and 0.82% arsenic (the over-limits were never re–assayed).

In the 2019 program, numerous mineralized and anomalous rock grab samples were collected northeast of drill hole 408 in what has been referred to as "Adera Zone". These samples line up with the same northeast trend and have assays ranging from 48 to 1,172 g/t silver, 0.2 to 4.45 g/t gold, 0.02 to 0.4% copper, 0.2 to >10% lead, 0.15 to 5.7% zinc, 0.3 to > 1% arsenic, 0.001 to 0.26% tungsten, and 0.05 to 0.40% antimony. This trend parallels the interpreted mapped Adera fault. The 2020 geophysical SkyTEM survey data also suggests a sinstral jog or deflection in a lineament that is interpreted to line up with the Adera fault and occurs in the vicinity of the mineralized samples. The samples are described as being mineralized quartz veins and silicified breccia that occur within both the granites of the Surprise Creek batholith and granodiorites of the 4th of July batholith suggesting that the mineralization is younger than the Adanac molybdenum deposit and possibly associated with the latest phases of the Surprise Creek batholith.

Daybreak Area

During the 2019 exploration program, the crew spent one day attempting to locate some trenches that reportedly contained high grade silver (Assessment Report #26920, personal communication, William Wallis, prospector). An early snowfall and poor weather hampered the attempt to find the trenches, however, surface samples taken in the area were anomalous in silver with 9 of 19 samples assaying greater than 10 g/t. The samples are also anomalous in copper, lead, zinc, arsenic, antimony and bismuth. One sample, described as being a light green and grey skarn boulder with quartz veining, assayed 477 g/t of silver, 1.6 g/t gold, 0.10% copper, 0.2% lead, >1% arsenic and 0.2% antimony.

Sampling

Rock samples were collected by Stuhini's geological and technical employees utilizing normal standards of collection and recording of descriptive data with hand held GPS determined locations in UTM NAD 83 grid locations as well as collection of photographs and representative samples. Rock material collected were appropriately bagged and stored in secure locations under the supervision of Stuhini Exploration personnel and then transported to the Bureau Veritas sample preparation facility located in Whitehorse, Yukon Territory. Samples were prepared and fire assayed for gold, platinum and paladium (with ICP-ES or gravimetric finish).

About the Ruby Creek Project: The 26,735-hectare Ruby Creek Project is road accessible and located 20 kilometres (km) east of Atlin, BC. There are 48 different documented mineral occurrences on the Property, of which 16 are gold–related, with 4 active gold placer creeks. The Property also hosts the historic Ruby Creek Molybdenum resource. Stuhini has an option to acquire 100% of the Ruby Creek Project subject to a 1% Net Smelter Royalty.

Further details regarding the Ruby Creek Option Agreement can be found in the Company's news release dated July 30, 2019.

The geological content of this news release has been reviewed and approved by Andrew Wilkins, P. Geo., a qualified person as defined under the terms of National Instrument 43-101.

About Stuhini Exploration Ltd.: Stuhini is a mineral exploration company focused on the exploration and development of precious and base metals properties in western Canada with its focus on the: Ruby Creek Property located approximately 24 km east of Atlin; and the Que Property located approximately 70 km north of Johnson's Crossing in the Yukon Territory.

Web: www.stuhini.com

Forward Looking Statements
This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. Such forward–looking statements concern the Company's strategic plans, timing and expectations for the Company's exploration and drilling programs, estimates of mineralization from sampling, and geological information projected from sampling results. Such forward–looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: conditions in general economic and financial markets; accuracy of assay results; geological interpretations from sampling results, timing and amount of capital expenditures; the impact of Covid-19 on the Company's ability to conduct exploration; performance of available laboratory and other related services; and future exploration costs. The actual results could differ materially from those anticipated in these forward–looking statements as a result of the risk factors including: the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of sampling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

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.

SOURCE Stuhini Exploration



Contact
David O'Brien, President & Chief Executive Officer, Stuhini Exploration Ltd., Email: dobrien@stuhini.com, Phone: (604) 418-4019