White Metal Begins 3,000 Meter Drill Program on Tower Stock Gold Project, Ontario


THUNDER BAY, Ontario, July 6, 2021 (GLOBE NEWSWIRE) – White Metal Resources Corp. (TSXV: WHM)
(FRA: CGK1) (OTCMKTS: TNMLF) (“White Metal” or the “Company”) is pleased to announce that it has commenced its summer drilling program on the Tower Stock gold property (the “Property”) which is located approximately 40 km to the west-northwest of the port city of Thunder Bay. , Ontario and covers approximately 1,968 hectares. The diamond drilling program is expected to take between four and five weeks and a total of 3,000 meters is expected.

Michael Stares, President and CEO of White Metal, said, “I am very excited to begin this second round of drilling and equally excited to drill the new Ellen area. We also have many other excellent targets that have been selected for drill testing from the recent DASVISION IP survey and 3D magnetic interpolation. The drilling program will also focus on untested areas of the Bench Zone which have separations in the borehole of up to 75 to 100 meters and therefore a considerable amount of detailed drilling is required. Another key aspect of the drilling program will be to test the possibility that the UV Zone, the Ellen Zone and the Bench Zone all connect to the South D Zone, which will give the gold zone a strike length of 1.5 km. The H Zone will also be tested by drilling to see if the gold mineralization does indeed dip 60 degrees to the southwest, as the results of last winter’s drill program suspect. I look forward to sending the core to the lab and communicating the test results to our shareholders. “

The newly discovered Ellen Zone, located approximately 340 meters south of the UV Zone and approximately 300 meters north of the Bench Zone, is an area that has not been historically drilled and is open in all directions. The drilling campaign will focus on several key areas, including:

  • To further test and expand the newly discovered Ellen Zone, as shown in drill hole TM-21-94, which returned 1.7 g / t Au over 82.5 meters, including 3 g / t Au over 45 meters, and including 1.5 meters at 58 g / t Au and 198 g / t Ag (see press release of April 20, 2021);
  • Tracing of the Ellen area to the northwest and southeast;
  • Extension of the bench area both to the north-west and to the south-east;
  • Extension holes to follow up drill hole TM-21-97, which intersected anomalous gold mineralization along most of its length of 347.71 m (47% of 229 samples> 100 ppb Au, up to a maximum of 2.16 g / t Au) and supported the interpretation that the Bench zone plunges 50 to 60 degrees to the southwest;
  • Confirming the Company’s interpretation that the Bench Zone is open in all directions;
  • Zone D extension test, TM-21-95 which returned 0.63 g / t Au over 63.5 meters. This large intersection of elevated gold mineralization is located 300 meters southeast of TM-21-95 and is believed to connect with the Bench Zone to the north;
  • Test up to three IP targets; 1) associated with and proximal to zone 04-36 which is not tested, 2) an extensive anomaly occurring between the UV and Bench zones and is largely untested, and 3) an anomaly located in the extent south of the overall target zone) with a historic hole TM-07-57 that drilled along the western edge of the anomaly and returned 0.37 g / t Au over 79.5 meters; and
  • Test through high resistivity which underlies the majority of the Ellen zone.

To view the attached infographic “Tower Stock Gold Property: Drill Holes, Geophysics, and General Geology”, please visit:
https://www.globenewswire.com/NewsRoom/AttachmentNg/180d4c2a-8e2e-4462-9e4f-85209e0af839

A detailed description of the planned drilling areas can be found on the Company’s website (https://www.whitemetalres.com/tower-stock-au.html).

All drill hole intersections shown here represent drill core lengths (intervals) and are not considered actual widths.

Qualified person
The technical information in this press release has been reviewed and approved by Dr. Scott Jobin-Bevans (P.Geo.), Vice President Exploration and Director of White Metal, who is a Qualified Person as defined by the standard. NI 43-101. .

About White Metal Resources Corp. :
White Metal Resources Corp. is a junior exploration company exploring in Canada and southern Africa. The two key properties of the company are the Flagship Tower Stock Gold project in Thunder Bay, Ontario, Canada and the Okohongo Copper-Silver project in Namibia, Africa. For more information about the company, please visit www.whitemetalres.com.

On behalf of the board of directors

Michael is watching
President and CEO

For more information contact:
Michael is watching
President and CEO
White Metal Resources Corp.
684 Squier Street
Thunder Bay, Ontario P7B 4A8
Telephone: +1 (807) 358-2420

Nancy Massicotte
Investor Relations
White Metal Resources Corp.
Telephone: +1 (604) 507-3377
TF: +1 (866) 503-3377
[email protected]

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS COMMUNICATION.

The information contained herein contains “forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements relate to information based on management’s assumptions, forecasts of future results and estimates of amounts not yet determinable. All statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements”.

Forward-looking statements are subject to various risks and uncertainties that could cause actual events or results to differ from those reflected in forward-looking statements, including, without limitation: risks relating to the inability to obtain adequate funding on a timely basis and on acceptable terms; risks associated with the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks associated with maintaining stock market listings; risks associated with environmental regulations and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; uncertainty of profitability; risks and uncertainties associated with the interpretation of drilling results, geology, grade and continuity of mineral deposits; risks associated with the inherent uncertainty of production and cost estimates and the potential for unanticipated costs and expenses; the results of pre-feasibility and feasibility studies, and the possibility that future exploration, development or mining results may not meet the Company’s expectations; risks associated with fluctuations in the price of gold and other commodities; and other risks and uncertainties relating to the prospects, properties and operations of the Company detailed elsewhere in the Company’s disclosure file. If one or more of these risks and uncertainties materialize, or if the underlying assumptions prove to be incorrect, actual results may differ materially from those described in forward-looking statements. Investors are cautioned against assigning undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company assumes no obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company’s expectations or projections.

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