GFG Resources Inc V.GFG

GFG Provides Exploration Update

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KEY HIGHLIGHTS:

• 2021 Step-out drilling on the MC East returned high-grade gold intercepts 8.26 grams of gold per tonne (“g/t Au”) over 1.0 metres (“m”) and 6.63 g/t Au over 1.5 m from hole MTC-21-012
• Expands high-grade gold mineralization, from hole MTC-21-05 (4.82 g/t Au over 26.0 m) and MTC-21-06 (8.34 g/t Au over 7.5 m) within the MC Central target, 100 m to the east into the MC East target
• Successfully completed the Phase 1 2022 drill program with 17 holes totalling 4,200 m, which confirmed regional scale gold mineralization
• 2022 Phase 1 infill and step-out drilling at the Montclerg Gold Project intercepted broad zones of sulphidation, quartz veining and alteration similar to holes MTC-21-05 and -06

SASKATOON, Saskatchewan, April 28, 2022 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) reports encouraging final assay results from its 2021 drill program and that it has completed the Phase 1, 4,200 m, 2022 drill program at the Montclerg Gold Project (the “Project” and/or “Montclerg”), located 48 kilometres (“km”) east of the prolific Timmins Gold District in Ontario, Canada (See Figure 1). In 2022, GFG plans to drill at least 10,000 m, in three phases, at Montclerg in parallel with a significant regional exploration program at its Goldarm and Pen gold properties, which are also located in the Timmins Gold District.

GFG Provides Exploration Update and Expands High-Grade Gold at Montclerg, East of the Prolific Timmins Gold District