Relevant Gold Cuts Widespread Gold Mineralization at the Heavy Hand Target; 10 of 11 Drill Holes Hit in First-Ever Drill Program

VANCOUVER, BC / ACCESSWIRE / February 15, 2024 / Relevant Gold Corp. (the "Company" or "Relevant Gold")(TSXV:RGC)(OTCQB:RGCCF) is pleased to announce gold assay results for its 1,560 metre (m) diamond drilling exploration program at its Heavy Hand target - Lewiston Project, located in the Company's 15,095-hectare land package in the South Pass Gold Field, Wyoming, USA. Drilling intersected shear-hosted gold mineralization in 10 of 11 drill holes, cutting multiple near-vertical shears across a 500 m wide corridor, 600 m along strike, and to vertical depths of 225 m, illustrating a sizeable oxide gold footprint at the apex of a prominent orogenic gold system. Mineralized shear structures are highlighted by 10 m (core length) averaging 0.35 g/t Au in hole 23-LD011 and 6 m (core length) averaging 0.29 g/t Au in Hole 23-LD010 including 1 m (core length) of 0.96 g/t Au. Narrow higher-grade shears are highlighted by 0.5 m (core length) of 1.9 g/t Au. and 0.7m (core length) at 1.72 g/t Au.

"We cut gold in almost all of the first holes ever drilled into a 500 m X 1000 m target, demonstrating that Lewiston hosts a large, fertile orogenic gold system that is begging to be drilled deeper. So far, Heavy Hand checks all the early boxes necessary to quickly evolve into a major gold discovery in Wyoming," said Rob Bergmann, Relevant Gold CEO. "These results give us a second district-scale, Abitibi-like discovery opportunity and we have another 10 targets in the pipeline ready to advance across our portfolio."

Eleven holes were completed, totaling 1,560 m of HQ diamond core drilling (Figure 1) at the Heavy Hand target with over 90% (10 of 11) of drill holes intersecting reportable gold mineralization (0.1 g/t Au or greater). Assay Highlights include (full table of reportable results):

• Hole 23-LD011:
  • 10 m core length averaging 0.35 g/t Au from 273m - 283m; including 1 m of 0.96 g/t Au from 273 m - 274 m.
  • 2 m core length averaging 0.37 g/t Au from 302 m - 304 m within fresh Arsenopyrite-Pyrite-Pyrrhotite mineralization.
• Hole 23-LD010:
  • 0.5 m core length averaging 0.16 g/t Au from 18 m - 23 m
  • 0.7 m core length of 1.72 g/t Au from 78 m - 78.7 m.
  • 6 m core length averaging 0.29 g/t Au from 99 m - 105 m.
  • 10 m core length averaging 0.10 g/t Au from 137 m - 147 m.
• Hole 23-LD009:
  • 2.4 m core length averaging 0.30 g/t Au from 13.71 - 16.10 m.
  • 4 m core length averaging 0.18 g/t Au from 80 m - 84 m.
• Hole 23-LD007: 0.5 m core length of 1.9 g/t Au from 69 m-69.6 m.
• Hole 23-LD002A: 10.34 m core length averaging 0.1 g/t Au from 117.14 m - 127.48 m within a larger 33.5 m strongly altered hematite-chlorite-biotite-sericite-sulfide shear zone.

Figure 1. Plan view map of the Heavy Hand target with drill hole traces in red, gold assays in yellow and surface rock chip gold assays in green (100 ppb = 0.1 g/t) along with geology projected to surface. The cross-section line is also illustrated as a NW-SE slice in Figure 2.

The drill holes reported here from the 2023 Heavy Hand exploration program are some of the first efforts to identify district-scale orogenic gold opportunities in the historic Lewiston mining district within the South Pass Gold Fields in Central Wyoming. Heavy Hand is 1 of 6 (see Lewiston property map) high-grade targets at the 100% owned 5,620 ha Lewiston project which are permitted and awaiting future drill testing.

Hole 23-LD011 intersected multiple strongly altered hematite-chlorite-sericite-biotite-sulfide shear zones including 10 m (core length) averaging 0.35 g/t Au from 273-283 m as well as fresh arsenopyrite-pyrite-pyrrhotite mineralization including 2 m core length averaging 0.37 g/t Au from 302 m-304 m. Importantly, this indicates un-altered mineralization continues below the oxidized zone to depths of over 225m beneath the surface. Four other drill holes (Figure 1 and Figure 2) intersected the same mineralized shear zones along strike to the north, illustrating potential continuity of oxide gold mineralization over 250 m of strike length. The continuity of mineralization is highlighted by three distinct intervals in hole 23-LD010 including 5 m core length averaging 0.16 g/t Au from 18 m-23 m, 6 m core length averaging 0.29 g/t Au from 99 m-105 m, and 10 m core length averaging 0.1 g/t Au from 137 m-147 m respectively (Figure 2). The continuity of these structural corridors provides a "panel" of favorable conditions to target high-grade ore shoots common in orogenic gold systems.

"As the first-ever drilling program, the widespread gold intercepts intersected within multiple shears at Heavy Hand illustrate a well mineralized, near vertical gold system, just like we see in the Abitibi Gold Belt," said Brian Lentz, CXO of Relevant Gold. "The intense alteration and sulfides associated with mineralized shears suggests we are at the top of the system and provides strong vectors for a deeper drilling program. We look forward to getting full geochemical results back and fine tuning our geologic model as we prepare for follow-up drilling."

Figure 2. Cross section of drill holes looking NE illustrate gold assays and geology.

The significant corridor of multiple near-vertical mineralized shear zones observed at Heavy Hand is consistent with known fertile orogenic gold systems and provides additional proof of concept that large-scale Abitibi-style mineralization may exist in central Wyoming. Furthermore, this suggests that modern orogenic gold exploration concepts such as those developed in the prolific Canadian Abitibi Gold Belt (>200 million ounces of gold production) can be applied in the region. Importantly, recent plate tectonic studies suggest that Wyoming was connected to the Abitibi Gold Belt at the time of mineralization and was later rifted apart to its present position. This increases the potential that the multiple shears identified to date within the Company's 15,095-hectare land package should have excellent potential for a major gold discovery.

Key Observations from Drill Core

The Company's primary focus for this drilling program was to test mapped surface shear zones to depth along strike, and to begin to define the subsurface geology, architecture, alteration, and pathfinder geochemistry. The following key observations were made (see core photo and assay highlights).

• Geology:
  • The geology at Heavy Hand is comprised of metagraywacke-slates of the Miners Delight Formation interlaced with brittle-ductile shearing and complex orogenic quartz-carbonate vein arrays.
  • Mafic greenstone rocks have been observed in core and mapped at surface to the south and indicate a more complex geological framework than ever previously recognized.
  • Continued detailed logging and geologic modeling will better identify lithological context, contact zones, and relationships to gold mineralization.
• Structure:
  • The Heavy Hand stacked shear zone corridor has been mapped on surface as a 500 m wide zone traceable along strike for at least 1 km north-south.
  • Drilling intersected a total of 9 mineralized shear zones, including 3 blind shear zones and has traced these shear zones from surface to a vertical depth of 225 m.
  • A >600 m strike length of mineralized shear zones was drilled and intersected within multiple drill holes illustrating continuity both at depth and along strike.
  • Shear zones consist of an anastomosing, multi-strand array of NE-SW striking, steeply west (70°-90°) dipping sub-vertical structures that vary in width from 1.0 m to >45 m.
• Alteration
  • Intense oxidized orogenic/Abitibi-style alteration was observed in all 11 drill holes.
  • Alteration mineralogy includes an assemblage of strongly oxidized and altered rock including hematite, biotite, chlorite, actinolite, sericite, tourmaline and silicification (Figure 3).
• Mineralization:
  • Gold mineralization exists within the oxide zone of intensely altered hematite-chlorite-sericite-biotite shear intervals and contact zones within the Miner's Delight formation host rock.
  • The last drill hole 23-LD011 intersected fresh arsenopyrite-pyrite-pyrrhotite mineralization at 225 m below the surface and confirmed an oxidation zone boundary at about 175 m-200 m depth below the surface.
  • Abundant episodic, orogenic quartz vein arrays were cut in every drill hole.
  • The style of orogenic quartz-sulfide veining is typical of that occurring in a brittle-ductile transition zone including pyrite-arsenopyrite-pyrrhotite assemblages (Figure 4).
  • The mineralization and geochemistry observed from drilling at Heavy Hand support that it's lying in the apex of a larger mineralized system.

Figure 3: Photo of section of core from hole 23-LD002A displaying intense hematite, chlorite, sericite alteration, complex quartz-carbonate veining and rusty oxidized remnant sulfides.

Figure 4: Photo of core from hole 23-LD011 displaying fresh, unaltered, fine to coarse grained, euhedral arsenopyrite within a complex quartz-carbonate vein with dark green chlorite alteration selvages.

Lewiston Project Summary

The Lewiston Project is located southeast of the Wind River Mountain Range in Fremont County of west-central Wyoming, 65 kilometers southeast of Lander, Wyoming. The property is composed of both private land and public land managed by the Bureau of Land Management (BLM) totaling 13,887 acres (5,620 hectares) of active BLM mining claims, including 58 acres (23 hectares) of patented claims at Hidden Hand. Relevant Gold has two permitted drill targets at Lewiston with a third permit pending.

Early data analysis combined with detailed mapping and sampling identified a >10 km mineralized shear zone trend runs through the district. Relevant Gold's Lewiston project claims include the historic Hidden Hand, Burr, Goodhope, and Lone Pine mines where historically reported samples include 1,690 oz/ton Au.

Relevant Gold rock chip samples are highlighted by 62 g/t Au + 8.1% Cu from arsenic (As), antimony (Sb), tungsten (W) and copper (Cu) from enriched shear zones that historically have reported significant high-grade bonanza-style gold within the shear structures and associated veining. Numerous shear zones have been mapped in detail throughout the district ranging from <1 m to >15 m wide at surface. Mineralization is seen as gold-bearing quartz veins with arsenopyrite + pyrite + chlorite +/- biotite +/- scheelite within the shear zone. The shear zones are flanked by brittle stockworks and alteration consisting of silicification and chloritization.

The Heavy Hand target is a 500 m x 1 km+ greenfield target identified as multiple sub-parallel and near vertical orogenic shear zones with high-grade gold (Relevant Gold surface rock chip sample highlights include 62.4 g/t Au), distinct hydrothermal alteration, and associated orogenic geochemistry (As, W, Bi, Te, Sb, Ag). Heavy Hand is one of six major targets in the Lewiston project identified to date through systematic exploration (see Lewiston property map).

For a full technical summary, view the Company's Lewiston 43- 101 technical report.

QA/QC

Samples were submitted to the accredited MSALabs laboratory for preparation and analysis at their Val-d'Or, Quebec and Langley, B.C. facilities in Canada. Samples were prepared and analyzed for gold using the PhotonAssay^TM at the Val-d'Or location and multi-element geochemistry at the Langley, B.C. location. All samples were assayed for gold using the CPA-Au1 method with a >250 g sample, and also analyzed for multi-element ICP-MS geochemistry using method IMS-230 with a 4-acid digestion.

MSALabs employs an internal QA/QC to ensure proper sample preparation and equipment calibration. Additionally, Relevant Gold's QA/QC program includes regular insertion of CRM standards, duplicates, and blanks in the sample batches to further monitor lab accuracy, precision and equipment calibration.

All results and QA/QC have been reviewed by Mr. Brian Lentz, CPG, who is the Chief Exploration Officer and Qualified Person for the Company.

About Relevant Gold Corp.

Relevant Gold Corp. is a North American gold exploration company founded by experienced exploration geologists and operated by a highly respected team with a proven record of significant value creation for shareholders. Relevant Gold is focused on the acquisition, exploration, discovery, and development of district-scale gold projects in the state of Wyoming - one of the most mining-friendly jurisdictions in the United States and globally.

On behalf of Relevant Gold Corp.,

Rob Bergmann, Chief Executive Officer

More information

For further information about Relevant Gold Corp. or this news release, please visit our website at www.relevantgoldcorp.com or contact Rob Bergmann, President and CEO, or Kristopher Jensen, Manager of Investor Relations, at 763-760-4886 or by email at investorrelations@relevantgoldcorp.com.

Cautionary Note Regarding Forward-Looking Statements and Historical Information

This news release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws. These statements relate to future events of Relevant Gold Corp. ("Relevant" or "Relevant Gold" or "the Company"). Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "outlook" and similar expressions) are not statements of historical fact and may be forward-looking information. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking information. Such risks include, among others, the inherent risk of the mining industry; adverse economic and market developments; the risk that the Company will not be successful in completing additional acquisitions; risks relating to the estimation of mineral resources; the possibility that the Company's estimated burn rate may be higher than anticipated; risks of unexpected cost increases; risks of labour shortages; risks relating to exploration and development activities; risks relating to future prices of mineral resources; risks related to work site accidents, risks related to geological uncertainties and variations; risks related to government and community support of the company's projects; risks related to global pandemics and other risks related to the mining industry. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not intend and does not assume any obligation, to update any forward‐looking information except as required by law. This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States, or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors.

The scientific and technical contents of this release have been approved by Mr. Brian C. Lentz, CPG #11999, Chief Exploration Officer of the Company, who is a "Qualified Person" as defined by Canadian National Instrument 43-101 (Standards of Disclosure for Mineral Projects). Mr. Lentz is not independent of the Company.

SOURCE: Relevant Gold Corp.