Galleon Gold Corp (PNCKF)

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Galleon Gold Continues to Define Gold at West Cache Project

Resource World - April 14, 2021

Galleon Gold Corp. (TSXV: GGO) (the “Company” or “Galleon Gold”) is pleased to announce additional Zone #9 intercepts from its 100% owned West Cache Gold Project, Timmins, Ontario.

Zone #9 – continued definition of grade and mineralization

WC-21-174 intersected 8.28 g/t Au over 13.04 m (211 to 224.04 m) including 14.58 g/t Au over 6.04 m (218 to 224.04 m); true thickness of these intervals is estimated at 98% of the reported intercept length

WC-21-119 intersected 7.93 g/t Au over 2.0 m (358.0 to 360.0 m) and 4.90 g/t Au over 1.5 m (364.5 to 366.0 m); true thickness of these intervals is estimated at 94% of the reported intercept length

Hole WC-21-174, located mid-way between previously announced holes WC-20-42 (7.44 g/t Au over 10.7 m) and WC-20-97 (7.66 g/t Au over 10.0 m), offers a strong confirmation of grade/thickness in a key portion of the Zone #9 mineralized shoot at 160 m below surface (see press releases dated September 29, 2020 and January 26, 2021). Assays and geologic data from Hole 174 will provide additional support for the modeling and resource work now underway as part of the Company’s upcoming Preliminary Economic Assessment (“PEA”).

Hole WC-21-119 was designed to test the dip extent and plunge of the lower portion of the Zone #9 shoot – this deeper intercept, located 258 m below surface, indicates that the mineralized Upper Shoot projects towards the West Deep gold deposit below.  In all, this most recent drilling supports the Company’s working model that the Upper Zone #9 Shoot, discovered in 2020, is likely linked to the much deeper West Deep shoot discovered a decade ago (TPW-10-30, 9.21 g/t over 11.0 m).  Importantly, there are over 400 meters of untested ground at depth between these upper and lower portions of the Zone #9 shoot.

Note from the CEO-Â
R. David Russell CEO and President of Galleon Gold comments, “We are very pleased with recent results from Zone #9.  Drilling in this area continues to provided ample data and information to make a meaningful contribution to our upcoming PEA.  Moreover, these results continue to support our planning for the next phase of development as we identify and design the portal and ramp for our initial bulk sample. This is a very exciting time for the project, and I believe we are well on our way to building the next gold mine in the Timmins camp.”

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