Goldflare Concluded A Second Phase Of Drilling On The Condor Project

PIEDMONT, Nov. 30, 2022 - Goldflare Exploration Inc. (TSXV: GOFL) (« Goldflare » or « the Society ») announces the second phase of drilling on its Condor property was completed with 1,639 metres drilled in ten holes.

The Condor property, located at 35 km north-east of the town of Rouyn-Noranda, is centered on the Clericy syenite pluton. Following targeting (see Goldflare press release of October 5^th, 2022), 13 blind targets were identified, coherent with a series of structures spaced 200 to 500 metres apart following general north-west orientation. Following that, 50 drilling emplacement were permitted to test 13 distinct targets covering an area of about 4 square kilometers.

The current program was initiated to first test the immediate extension of the Condor-1 gold showing along a strike length of about 250 metres using five short holes parallel drilled at about 50 metres spacing following a north-east direction.

A first step out was done to test a second target at about 500 metres from Condor-1 following a north-west strike. Three short holes with length between 150 and 175 metres were drilled following varied orientation to test a combination of geophysical anomalies and inferred structures.

Finally, the new Gord surface showing located close to a strong geophysical signature, some 1500 metres north-west from Condor-1 was tested with two holes.

"Observations made on most cores so far confirm in many cases our best expectations that we have intercepted a strongly altered syenite intrusions with local pyritization, which remained unknown to this day. Even if we cannot say at this stage if gold is truly there, we are determined to think things throught and evaluate if the strong density of targets known on the property hides evidences of a gold deposit" Ghislain Morin, President and CEO.

All the holes explained geophysical anomalies and succeeded to intercepted magmatic structures and alteration zones that stand out strongly in the geological landscape visible at surface. To date, 8 out of the 10 holes have been logged. The sampling and assaying process is progressing.

Targets intercepted are composed of an assemblage of lamprophyre and varied textures syenite. Hematite alteration is widespread in the syenite while more local fracturing is associated with carbonate-chlorite assemblage. A weak pyritization can be observed sporadically over multiple intervals.

Observations made to date returned noticeable structural and alteration features that contrast strongly with the surrounding main syenite intrusion.

Cautionary note: following geological observation along drilled intervals can not be considered as indicators, or correlatable with gold assays results.

The Condor project is located about 35km north-east of Rouyn-Noranda, Québec, at the eastern extension of the Porcupine-Destor Break. The property is part of a 2,910 hectares land package, adjoining other claims where Goldflare detains interests. The project shares boundaries with Iamgold which currently evaluated economic conditions for a production decision of the Fayolle project.

A surface gold discovery occurred in 2021 during a first prospecting program. Following months seen the completion of varied exploration work such as the stripping of the Condor-1 showing followed by a soil geochemistry survey doubled by a OreVision ^R ground survey. A first drill program made of twelve short holes succeeded to identify a 100 metres wide gold bearing structure (Goldlfare Exploration, March 3, 2022).

The technical information contained in this press release has been reviewed by Martin Demers, P.Geo. (ogq No. 770), consultant for Goldflare Exploration and qualified person under National Instrument 43-101 Respecting Disclosure of Mineral Projects.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in the rules of the TSXV Exchange) is responsible for the accuracy or truthfulness of this release.

SOURCE Goldflare Exploration Inc.