Red Lake Gold Inc. Deploys Prospecting and Soil Sampling Teams to Priority Areas at Whirlwind Jack
Vancouver, October 1, 2024 - Red Lake Gold Inc. (CSE: RGLD)("Red Lake Gold" or the "Corporation") reports that it has deployed geologists at its Whirlwind Jack Gold Project ("Whirlwind Jack") located near Red Lake, Ontario for an in-field prospecting program (the "Fall Prospecting Program") and, separately, a phase II soil sampling program (the "Fall Soil Sampling Program"). The Fall Prospecting Program, which began this morning, is being managed by Jordan Harris, the Corporation's Vice-President, Exploration alongside a senior consulting geologist from Red Lake, Ontario. The planned field work of the Fall Prospecting Program is focused on prospecting and mapping the Corporation's Box and Bug Lake Targets, both as previously defined and disclosed (see news release, Red Lake Gold Inc. Identifies Gold-In-Soil Anomalies, Highlights Multi-Kilometre Target Area Adjoining LP Fault, dated August 13, 2024).
The Fall Prospecting Program is funded by way of proceeds from the Corporation's recent financing (see news release, Red Lake Gold Inc. Closes Previously Announced Financing, dated September 4, 2024)(the "September Financing"), the market completion of that financing being achieved as a result of Insider provision of risk capital (as that capitalized term is defined by securities laws).
The Fall Prospecting Program is in addition to and separate from the field crews performing the Fall Soil Sampling Program (see news release, Red Lake Gold Inc. Retains Fladgate Exploration for a Phase II Fall Soil Sampling Program at the Whirlwind Jack Gold Project, dated September 9, 2024), which is also underway and seeks to intensify soil sampling at Whirlwind Jack around target areas identified in phase I (see news release, Red Lake Gold Inc. Identifies Gold-In-Soil Anomalies, Highlights Multi-Kilometre Target Area Adjoining LP Fault, dated August 13, 2024).
The Fall Soil Sampling Program is being performed by Fladgate Exploration Consulting Corp. ("Fladgate") and is also funded using capital supplied by the September Financing.
To maximize the combined output of the multiple teams performing the two independent but overlapping field programs, the Fall Prospecting Program is utilizing rapid-deployment charter-aircraft from Red Lake and the Fladgate personnel for the Fall Soil Sampling Program are already lodged and stationed within the project area.
Red Lake Gold currently has 45,239,169 common shares issued and outstanding.
About Red Lake Gold Inc.
Red Lake Gold Inc. is a Vancouver-based junior mining exploration company, traded on the Canadian Securities Exchange (CSE) under the symbol "RGLD". For more information, please visit www.redlakegold.ca.
The Corporation is subject to various risks and uncertainties, including those risks and uncertainties set out in its public filings, such public filings generally being available, without limitation, through SEDAR+ (www.sedarplus.ca) and the Corporation's Disclosure Hall on the CSE website (thecse.com/listings/red-lake-gold-inc/#disclosure).
On Behalf of the Board of Directors
Ryan Kalt
Chief Executive Officer
T: 604.687.2038
Email: info@redlakegold.ca
Forward-Looking Statements
This news release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties, including but not limited to the Corporation's intention to conduct exploration work at its Whirlwind Jack Gold Project, the timing and completion of such exploration work and the results of such exploration work, including but not limited to the Fall Prospecting Program and/or the Fall Soil Sampling Program, and to the extent any such work is successfully completed, as well as to the general exploration potential of the Whirlwind Jack Gold Project held by the Corporation, results of either the Fall Prospecting Program or the Fall Soil Sampling Program and the ability of the Corporation to access funding to advance and/or sustain its forward-looking corporate intentions/plans. Actual results may differ materially from those currently expected or forecast in such statements.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE Exchange) accepts responsibility for the adequacy or accuracy of this release.
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