VANCOUVER, B.C. December 13, 2021 – STEVENS GOLD NEVADA INC. (CSE:SG, OTCQB:STVGF, FSE:311) (the “Company” or “Stevens Gold”), is pleased to announce assay results and additional information from the project areas making up the proposed acquisition from Fiddlehead Mining Corp. (“FMC”) of certain mineral property interests (see Stevens Gold News Release dated November 29, 2021) in the Nine Mile Brook and Canoe Landing Lake West Project Areas (Figure 1). The Project areas cover approximately 3,800 sq. kms in the province of New Brunswick, Canada, located in the east central portion of the Bathurst Mining Camp (“BMC”), one of Canada’s most prolific base metal mining camps. Known for its volcanogenic massive sulphide (VMS) deposits, including the giant Brunswick #12 mine, the BMC is host to 45 deposits and close to 100 significant VMS occurrences including the Willett VMS Lens (Figure 2), which is partially exposed at Nine Mile Brook. The deposits are associated with felsic volcanism, represented on both properties by the California Lake Group, the rocks of which host 13 of the 45 known deposits including the producing Caribou Mine operated by Trevali Mining Corporation.
The Nine Mile Brook Project consists of 93 claim units (2,046 hectares) and covers the exposed Willett VMS Lens, a high-grade Cu, Pb, Zn massive sulphide lens located approximately 10.5 kilometers southwest of the Brunswick # 12 mine, a 335 MT orebody which produced for more than 50 years. The observed mineralization is well banded and massive in character, typical of the mineralization found in the BMC. Assays from select grab samples collected under the supervision of FMC from the Willett VMS Lens were submitted by FMC to Bureau Veritas Labs based in Timmins, Ontario, are shown in Tables 1 and 2.
The Canoe Landing Lake West Project is located approximately 8 kilometers west of Nine Mile Brook and consists of 24 claim units covering 528 hectares. The property also covers a large portion of the California Lake Group volcanics and lies proximal to 10 VMS / Ag occurrences including the 22.8 MT Canoe Landing Lake deposit, hosted in the California Lake Group, 2 kilometers southeast.
The proposed acquisition has been unanimously approved by the Board of Directors of each of Stevens Gold and FMC. The completion of the proposed acquisition is subject to certain customary closing conditions for transactions of this nature. The proposed acquisition does not require the approval of the shareholders of Stevens Gold.
Table 1: Group I Grab Sample Results*, Nine Mile Brook
* Upper Assay Limit
The Silver results ranged from 4.47 oz to a prolific 25.24 oz/ton. The Gold results were 1.76 – 3.67 g/t with 6 samples reporting > 2.31 oz.
Recent sampling also included rocks from the main VMS exposure and from adjacent boulders, the samples consisting of well banded VMS with varying <1 to 1 inch + bands of visible copper, lead and zinc mineralization. Samples 20NM0200 and 20NM0201 were split in half prior submission to check on the homogeneity of the respective samples. In this sample set, the samples were either primarily high-grade copper with lead and zinc or high-grade lead-zinc with less copper. There are very good gold values ranging between 1.089 and 3.764 g/t Au, while the silver was more consistent than the results above, the results in Table 2, all over 2 oz per ton.
Table 2: Group II Grab Sample Results*, Nine Mile Brook
Both sample sets (Tables 1 & 2) demonstrate the high-grade base metal potential at the Nine Mile Brook VMS Project.
*The reader is cautioned that these grab samples characterize the higher – grade mineralization. Not all samples should be considered representative of the mineralized zones hosted within the projects, documented in part by these samples.
For more information on the Nine Mile Brook and Canoe Landing Lake West projects, please see the Technical Report titled Nine Mile Brook and Canoe Landing Lake West Projects Bathurst Mining Camp, New Brunswick, Canada, dated October 6, 2021, filed on SEDAR for more information.
“The base and precious metal values encountered in this last round of sampling are outstanding in both grade and consistency. The assay results demonstrate the variability within the VMS sequence at Nine Mile Brook Project, highlighted by discreet, higher-grade sections of both base and precious metals,” stated Gary Lohman, COO, FMC.
Figure 1: Regional Location
Figure 2: Sample Location, Willett Occurrence
Fiddlehead Mining Corp. is a private Canadian junior exploration company focused on VMS exploration opportunities in the famous Bathurst Mining Camp in Bathurst, New Brunswick, Canada
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 and review and approved by Gary Lohman, B.Sc., P. Geo. who acts as Stevens Gold’s Qualified Person and as the COO of Fiddlehead Mining Corp., and is not independent of Stevens Gold.
ON BEHALF OF STEVENS GOLD NEVADA INC.
CEO, President, Director & Secretary
The opinions, estimates, and/or projections contained herein are those of Fiddlehead Mining Corp. (FMC) as of the date thereof and are subject to change without notice. FMC makes every effort to ensure the contents contained herein have been compiled or derived from sources believed reliable and contain information and opinions, which are accurate and complete. However, FMC makes no representations or warranty, express or implied, in respect thereof, takes no responsibility for errors or emissions which may be contained herein and accepts no liability whatsoever for information and its contents.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities. In addition, the securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or the securities laws of any state and may not be offered or sold within the United States or to or for the benefit or account of U.S. persons, absent such registration or an applicable exemption from such registration requirements.
Certain of the information contained in this news release constitutes ‘forward-looking information’ and ‘forward-looking statements’ within the meaning of applicable Canadian and U.S. securities laws (“forward-looking statements”) and involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements, including but not limited to statements relating to: the Company’s proposed acquisition of the mineral property interests in Nine Mile Brook and Canoe Landing Lake West projects; the anticipated timing, benefits and effects of the completion thereof, the proposed advancement of projects; and, expectations regarding the projects, involve risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements. Such factors include, among others, any inability to satisfy the conditions under the proposed acquisitions; obtaining any required regulatory approvals in connection with the proposed acquisitions; any inability to satisfy the other conditions to such completion or to realize the benefits of the proposed transaction; any inability to execute proposed plans for the projects; and, other key risks and uncertainties set forth in the risk factors detailed from time to time in the Company’s publicly filed documents under its profiles at www.sedar.com and www.otcmarkets.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws. The Company cautions that the foregoing list of material risk factors and assumptions is not exhaustive.