VANCOUVER, British Columbia, June 27, 2018 (GLOBE NEWSWIRE) -- Goldstrike Resources Ltd.
(TSX-V:GSR) (OTC PINK:APRAF) (Frankfurt:KCG1) is pleased to provide an update on the 2018 drill program at its 156 square kilometre
Lucky Strike Property. Lucky Strike is located in the heart of the Yukon’s White Gold District and is 100%-owned by Goldstrike with
no underlying payments or royalties.
Diamond drilling began June 16th, 2018 in the Monte Carlo zone. Drilling will expand upon 2017’s 1033m drill
program; the first drilling to date on the property (5.36 grams per tonne gold over 22 metres - November 20, 2017 news release). Drill holes are planned around mechanical trenching results, soil sample
geochemistry, and the results of a 2016 induced polarization (IP) survey. By the end of the program, the company is expected to
cover ~700m of strike length at Monte Carlo. Details of the 10 km trend containing multiple gold mineralized zones can be
found in the May 22, 2018 news release.
A geophysical crew has also mobilized to Lucky Strike to perform an IP survey. The survey will consist of
approximately nine kilometres of survey lines and expand the original survey to the north, further delineating a prominent
northwest structure, and a separate, untested chargeable anomaly at depth which is considered to have strong potential providing
for additional drill targets.
Goldstrike has also commenced reconnaissance soil sampling and prospecting of the large under-explored areas
that contain several new targets and structures identified using the 2017 data and a property wide LIDAR survey. Over 500 samples
have been taken to date and up to an additional 1500 samples are planned.
100 % Owned Hotspot Property Exploration Program
The highly anticipated inaugural trenching and ground geophysics programs at Hotspot (80 kilometres west of
Lucky Strike) are expected to begin June 27th, 2018. Trenching and ground geophysics will focus on delineating drill targets on the
Sure Bet zone, a 100 x 150 metre geochemical anomaly that yielded soil samples assaying up to 4.1 grams per tonne gold and rock
samples from hand pits assaying up to 0.39 grams per tonne gold (November 21 news
release). The zone remains open to the north and south.
Additional reconnaissance prospecting and soil sampling are also planned for the rest of the property, located
in a key geologic terrane.
News updates will remain ongoing as the program continues to unfold, and results will be released once received,
compiled and interpreted.
OTHER
Sample analysis and assaying for all of Goldstrike's projects have been conducted by Bureau Veritas Mineral
Laboratories Canada (formerly Acme Analytical Laboratories Ltd) in Vancouver, BC, which is ISO 9001 accredited laboratory.
Rock and drill core samples are crushed, split and pulverized to 250 g pulp, 200 mesh. Analysis includes AQ200 modified 1:1:1
aqua regia (HCl-HNO3-H20) digestion and 36-element ICP-MS which includes semi-quantitative gold with a lower detection limit of 0.5
ppb Au and an upper detection limit of 100 ppm Au. In addition gold content is analysed using the ICP-ES FA350-Au fire assay
procedure. Over-limit samples are analysed using the FA530-Au fire assay with gravimetric finish and FA652-Au metallic screen fire
assay procedures. Rigorous procedures are in place regarding sample collection, chain of custody and data entry.
Certified QA/QC assay standards samples and blanks are routinely inserted into the sample stream to ensure integrity of the assay
process. The reader is cautioned that grab samples are spot samples which are typically, but not exclusively, constrained to
mineralization. Grab samples are selective in nature and collected to determine the presence or absence of mineralization and are
not intended to be representative of the material sampled.
Stefan Kruse, Ph.D., P. Geo., Chief Geologist, is a qualified person as defined by National Instrument 43-101,
for Goldstrike's Yukon exploration projects and had supervised the preparation of, and has reviewed and approved, the technical
information in this release.
ON BEHALF OF THE BOARD
Terrence E. King
President and Chief Executive Officer
For new information from the Company’s programs, please visit Goldstrike’s website at GoldstrikeResources.com.
For further information follow the Goldstrike’s tweets at Twitter.com/GoldstrikeRes or contact Jeff Stuart of King James Capital
Corporation, handling Investor Relations for the Goldstrike, by telephone at (604) 210-2150 or by email at jstuart@kingjamescapital.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking
statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the
United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to,
disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic
conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related
permitting; and the plans for completion of the contemplated transactions with Newmont as set out above. In certain cases,
Forward-Looking Information can be identified by the use of words and phrases such as "anticipates", "expects", "understanding",
"has agreed to" or variations of such words and phrases or statements that certain actions, events or results "would", "occur" or
"be achieved". Although Goldstrike has attempted to identify important factors that could affect Goldstrike and may cause
actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other
factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking
statements in this news release, if any, Goldstrike has applied several material assumptions, including the assumption that general
business and economic conditions will not change in a materially adverse manner. There can be no assurance that
Forward-Looking Information 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 Information.
Except as required by law, Goldstrike does not assume any obligation to release publicly any revisions to Forward-Looking
Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
