Rockhaven Resources Identifies New Bonanza Grade Gold-Silver and Extends High-Grade Mineralization to Depth at Klaza Project

The 2020 exploration program was designed to test new vein targets via 6,042 m of diamond drilling in 22 holes. The drilling focused on targets outside of the known Klaza Au-Ag Intermediate Sulphidation Deposit including the Rusk, Pearl, Etzel and Victoria targets. One hole was drilled below the Klaza Deposit to test for depth potential.

"I am excited that our 2020 program, designed to test new vein field targets within 3 km of the Au-Ag Klaza Deposit, yielded new high-grade vein discoveries," stated Matt Turner, Rockhaven's President and CEO. "An aggressive drilling program is scheduled to begin in May to follow-up the new discoveries, with an emphasis on the Rusk Vein Complex where there is excellent potential to rapidly outline near-surface gold and silver resources and to test the Klaza Deposit to depth where we have now documented mineralization to a vertical depth of 450 m. The goal of the 2021 drill program will be to de-risk and build upon the excellent economics outlined in the Preliminary Economic Assessment released in July 2020."

Assay highlights from this press release and the January 13, 2021 press release include:

Pearl Zone

• 59.8 g/t gold and 425 g/t silver over 0.40 m

Rusk Zone

• 16.35 g/t gold, 321 g/t silver, 1.98% lead and 1.01% zinc over 0.63 m
• 2.05 g/t gold, 129 g/t silver, 2.29% lead and 4.67% zinc over 5.65 m
• 1.42 g/t gold, 30.7 g/t silver, 0.48% lead and 0.60% zinc over 9.80 m

Klaza Zone (to a vertical depth of 450 m)

• 3.18 g/t gold and 43.52 g/t silver over 2.00 m

Etzel Zone

• 9.69 g/t gold and 82.74 g/t silver and 2.62% copper over 1.50 m
• 0.25 g/t gold and 17.2 g/t silver over 81.63 m including 838 g/t silver over 1.50 m

Key highlights from the 2020 drill program are further outlined below.

Rusk Zone (ten holes drilled in 2020)

A fence of ten drill holes was completed at the Rusk Target in 2020 to test a 2.6 sq km, highly elevated arsenic-in-soil anomaly which had previously never been drill tested. The assessment was very successful with the discovery of numerous mineralized structures, including a wide zone that was pierced in the upper portion of the third hole (KL-20-470 averaged 1.42 g/t gold, 30.7 g/t silver, 0.48% lead and 0.60% zinc over 9.80 m) and the lower portion of the fourth hole (KL-20-471 returned 2.05 g/t gold, 129 g/t silver, 2.29% lead and 4.67% zinc over 5.65 m). These zones may be part of the same structure and will be one of the main focuses of 2021 follow-up drilling.

Resource Expansion Potential Down-Dip on Klaza Zone (one hole drilled in 2020)

KL-20-487 was designed to test the Central Klaza Zone, one of the four main sub-zones that host the mineral resources at Klaza, at a 450 m vertical depth - 125 m deeper than the resource outline. Five discrete mineralized vein structures were intersected in this hole, including an interval that yielded 3.18 g/t gold and 43.52 g/t silver over 2.00 m (450 m below surface and 125 m deeper than any other hole in this zone). This intersect is highly significant because it further confirms the expansion potential below the Klaza Deposit mineral resources.

Pearl Zone (three holes drilled in 2020)

Three holes were drilled at the Central Pearl Zone (400 m north of the Klaza Deposit) and were designed to test the eastern extension of high-grade veins discovered in 2019 drilling that yielded 5.28 g/t gold and 1,054 g/t silver over 1.60 m.

In 2020 drilling, hole KL-20-480 cut 59.8 g/t gold and 425 g/t silver over 0.40 m toward the bottom of the hole after encountering numerous gold-silver bearing zones across its length. Drilling at the Pearl Zone is still widely spaced, yet high-grade intervals have been encountered in seven of the eight holes drilled to date. Priority follow-up is recommended to systematically define the best portions of this >1 km long structure to assess resource potential.

Etzel Zone (Five holes drilled in 2020)

The Etzel Zone, located 2 km east of the Klaza Deposit, is defined by a large Au-As anomaly. High-grade structures were intersected including 9.69 g/t gold, 82.74 g/t silver and 2.62% copper across 1.50 m (KL-20-483) and 838 g/t silver over 1.50 m (KL-20-484).

Of note, two holes spaced 200 m apart encountered widespread, anomalous gold and silver mineralization. KL-20-484 returned 0.25 g/t gold and 17.21 g/t silver over 81.63 m and KL-20-489 averaged 0.15 g/t gold and 0.7 g/t silver across 162.51 m. Further exploration is definitely warranted at the Etzel zone, especially towards the southeast, where no exploration work has yet been conducted.

Victoria Zone (two holes drilled in 2020)

The Victoria Zone, discovered in 2017 by prospecting and excavator trenching, is located 1.5 km east of the Klaza Deposit. Rock samples of vein float collected from a series of parallel gullies have yielded numerous high-grade results, including 35.30 g/t gold with 1,145 g/t silver and 12.10 g/t gold with 2,360 g/t silver. Two holes were drilled in 2020 below the western projections of these samples, with the most southerly hole (KL-20-485) intersecting 9.8 g/t gold and 50.2 g/t silver over 0.50 m.

Intermediate & Low Sulphidation Vein Style

Mineralized vein zones on the Klaza property typically consist of galena, sphalerite, pyrite and arsenopyrite hosted in a quartz-carbonate gangue. The vein system is multi-episodic with both Intermediate Sulphidation and Low Sulphidation Epithermal Veins. All veins are largely open for expansion vertically and along their projected trends. Detailed maps showing the drill hole locations and cross-sections pertaining to this release can be viewed on the Rockhaven website at www.rockhavenresources.com.

Significant assays from the 2020 drill holes are shown in the following table.

⁺ Represents the diamond drill hole core length. True widths are unknown at this time, although the majority of vein intersects had contacts that were at or near perpendicular to core axis.
*Represents 2020 drill holes previously announced (see Rockhaven Press Release dated January 13, 2021).
KL-20-469 was terminated early due to poor ground conditions
KL-20-472, -481 and -486 did not return significant assay results
KL-20-474 was lost in overburden
KL-20-484 was terminated early due to poor ground conditions and ended in mineralization

QA/QC

All analyses for rock and core samples from the 2020 program were performed by ALS Minerals with sample preparation in Whitehorse and assays and geochemical analyses in North Vancouver. Core samples were routinely analyzed for gold by fire assay followed by atomic absorption (Au-AA24) and 48 other elements by inductively coupled plasma-mass spectrometry (ME-MS61). Samples that exceeded the detection limits of the routine methods were assayed for silver, copper, lead and zinc by inductively coupled plasma-atomic emission spectroscopy (Ag/Cu/Pb/Zn - OG62) and gold by gravimetric analysis (Au-GRA22). Rigorous procedures were in place regarding sample collection, chain of custody and data entry. Certified assay standards, coarse reject duplicates, field duplicates and blanks were routinely inserted into the sample stream to ensure integrity of the assay process. All of the results reported have passed the QA/QC screening.

Qualified Persons

Technical information in this news release has been approved by Matthew R. Dumala, P.Eng., a geological engineer with Archer, Cathro & Associates (1981) Limited and qualified person for the purpose of National Instrument 43-101.

About Rockhaven

Rockhaven Resources Ltd. is a well-funded explorer focused on the exploration and development of its 100%-owned, camp-scale Klaza Property, which hosts the Klaza Deposit and numerous lightly explored exploration targets. The Klaza Deposit has indicated resources of 4.5 Mt containing 686,000 oz gold and 14,071,000 oz silver at grades of 4.8 g/t gold and 98 g/t silver, and inferred resources of 5.7 Mt containing 507,000 oz gold and 13,901,000 oz silver at grades of 2.8 g/t gold and 76 g/t silver. An updated Preliminary Economic Assessment of the Klaza Deposit returned a Post-Tax NPV(5%) of CAD$378 million and an IRR of 37%, using US$1450/oz gold and US$17/oz silver (see Klaza Property Technical Report with an effective date of July 10, 2020 and titled, "Technical Report and Preliminary Economic Assessment Update for the Klaza Property, Yukon, Canada." which can be viewed at www.sedar.com under the Rockhaven profile or on the Rockhaven website at www.rockhavenresources.com.).

Matthew Turner
President, CEO and Director
Rockhaven Resources Ltd.
T:604-687-2522
mturner@rockhavenresources.com

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 based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.

SOURCE: Rockhaven Resources Ltd.