Goldseek Continues to Hit at Beschefer with 2.17 g/t Gold Over 13.2 Metres

(TheNewswire)

Highlights:

• 2.17 g/t gold over 13.2 metres,including 3.9 g/t gold over 5.6 metres, in the Central Shallow Zone

• 2.01 g/t gold over 13.0 metres in an up-dip East Zone Extension hole

• Rushed intervals from 7 of 17 holes completed during Goldseek’s maiden 5,000-metre program

• 6 of 7 holes returned gold values supporting the continuity of the B14 gold-bearing structure

• Base metal potential on intercepts is still to be determined based on alteration indicators and copper sulfide occurrences.

November 23, 2021 - TheNewswire - London, Ontario - Goldseek Resources Inc.(CNSX:GSK.CN)(FSE:4KG)(OTC:GSKKF) (“Goldseek” or the “Company”) is pleased to announce results from seven drill holes at the Beschefer Project, located approximately 30 kilometers southwest of Wallbridge Mining Company Limited’s (“Wallbridge”) Fenelon Gold Project on the Detour Gold Trend. BE-21-06 intersected 2.17 g/t Au over 13.2 metres, including 3.9 g/t Au over 5.6 metres, encountered in the Central Shallow Zone. In addition, gold was intercepted in 6 of 7 holes, including 2.01 g/t gold over 13 metres in BE-21-11, supporting the extension of the East Zone to the northeast.

BESCHEFER LONG SECTION

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The drill grid was designed to cut the modelled Central Shallow Zone and East Zone, covering approximately 700 metres of strike length following a general northeast trend. The mineralization extends from the bedrock interface down to a vertical depth of about 200 metres. The target structure dips at 40° to the southeast. Holes reported aimed at defining the gold grade envelope using 25 to 50-metre spacing.

Goldseek's President & CEO Jon Deluce states, “We are very excited to announce continued strong intercepts from our maiden 5,000-metre program at Beschefer. The results support the continuity of the northeast mineralized trend for over a kilometer once combined with all historical drilling. Our best results from this batch support identifying at least two gold shoots that present possibilities of down-dip extensions.

We look forward to the remainder of the results, with our three 100–175-metre extension/step-out holes on the East Zone still outstanding, which hit the mineralized zone with favourable indicators observed over intervals similar to previous holes. As we continue to process and report results, we are starting to plan our follow-up winter drill program with a targeted start in January 2022.”

Central Shallow Zone Highlights

Holes BE-21-05, BE-21-6 and BE-21-07 were drilled at resource spacing inside the core of the Central Shallow Zone historically drilled at wide spacing. The area covered represents a strike length of 100 metres for the same dip extension. The main highlight is the intersection of 2.17 g/t over 13.2 metres, including 3.9 g/t over 5.6 metres from 210.5 to 216.1m. The highest interval reached 12.4 g/t over 1.2 meters in this hole. Hole BE-21-05returned 1.4 g/t over 1 metre, whereas BE-21-07 had low gold anomalies.

The gold-bearing structure encountered by these three holes all corresponds to strong carbonatization and feldspathisation alteration hosted in a ductile deformation zone. Variable pyrite concentrations observed are linked to gold concentrations. Local micro-structures such as joints and breccia strongly influence gold grades, explaining result variations inside the structure thickness, which varies overall between 5 and 20 metres.

East Zone Highlights

Four holes were drilled to confirm the geometry and extension of the East Zone using a 25-metre-wide section with a dip of approximately 100 metres. In this area, historical holes returned high-grade intervals such as 55.63 g/t over 5.57 metres from BE13-038. East Zone drilling was targeted approximately 100 metres eastward of the Central Shallow Zone.

Holes BE-21-08 and BE-21-09 ended up being similar due to deviation in the drilling dip and azimuth due to harsh overburden conditions. Mineralized intervals from BE-21-10 and BE-21-11 were offset respectively 60 metres down-dip and 25 metres along strike from the first two holes.

The best intercept from the East Zone was BE-21-11 with 2.01 g/t over 13.0 metres, including 3.9 g/t over 2.3 metres. BE-21-08 encountered 4.6 g/t over 0.85 metres, whereas hole BE-21-09 intercepted 1.1 g/t over 10.75 metres. Peripheric hole BE-21-10 returned 0.81 g/t over 10 metres.

East Zone geological environment is distinct with the predominance of felsic rocks at the hanging wall of the gold-bearing structure, collared and crosscut over 150 to 200-metre lengths. In this context, partial quartz-sericite alteration affects an interlayered sequence of porphyric felsic flows and volcanic breccia layers. Pyritization is widespread with common disseminated chalcopyrite.

RESULTS FROM 7 DRILL HOLES (RUSHED SECTIONS ONLY)

* Stated lengths are core lengths as drilled. True widths are estimated to be between 85% and 100%of reported core length intervals.

The program was carried out under the supervision of Martin Demers, P.Geo and a consultant for Goldseek Resources, the qualified person responsible for this news release. The field program was run by SL Exploration. The drill core was split at the Technominex facility in Rouyn-Noranda with half sent to AGAT Labs in Val D’Or, QC, and fire assayed with an AA and gravimetric finish. Assays on metallic sieving are performed on whole samples greater than 10 g/t gold and samples containing visible gold. Duplicates, standards and blanks were inserted into the sample stream.

About the Beschefer Project:

• Advanced gold exploration project with significant near-term resource potential

• Located in a favourable orogenic gold setting 45 km northeast of the Casa Berardi Mine and 30 km southwest of Wallbridge’s Fenelon Gold Project.

• Highlights of the best intersections include 55.63 g/t gold over 5.57m in hole BE13-038 (including 224 g/t over 1.23m ; 13.95 g/t over 0.68m and 13.70 g/t over 0.73m), 13.07 g/t gold over 8.75m in hole B12-014 (including 58.5 g/t over 1.5m), 3.56 g/t gold over 28.4m in hole B14-006 (including 7.42 g/t over 5.5m), 10.28 g/t gold over 8.00m in hole B14-35 (including 86.74 g/t over 0.60m), and 12.40 g/t gold over 3.78m in hole B11-003. True width in these sections vary between 89% and 99% of the intercepted width.

• The mineralization shows high-grade gold-bearing structures hosted in a lower grade envelope, which highlights the regional potential along the already defined shear zones located on the Property.

• Continuous large-scale gold-bearing structure (B-14 Zone) with known continuity and additional known parallel mineralized shear zones.

Qualified Person

This press release was reviewed and approved by Martin Demers, P.Geo,ogq No 770, who is a qualified person as defined under National Instrument 43-101, and responsible for the technical information provided in this news release.

ON BEHALF OF THE BOARD

Jonathon Deluce

Chief Executive Officer

Telephone: 226-271-5170

For more information, please contact:

Goldseek Resources Inc.

E-mail: goldseekresources@gmail.com

The reader is invited to visit Goldseek's web site https://www.goldseekresources.com/

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

This news release contains certain statements that may be deemed “forward-looking statements” with respect to the Company within the meaning of applicable securities laws, including statements with respect to the Company’s future plans of Beschefer. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, the Company’s ability to obtain all requisite approvals, including approval of the Canadian Securities Exchange and securities regulatory authorities, if required for a transaction or financing, the Company’s ability to raise sufficient capital to fund its obligations under its property agreements going forward, to maintain its mineral tenures and concessions in good standing, to explore and develop Beschefer or its other projects and for general working capital purposes, changes in economic conditions or financial markets, the inherent hazards associates with mineral exploration, changes in general economic conditions, the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop its projects and if obtained, to obtain such permits and consents in a timely fashion relative to the Company’s plans and business objectives for the projects, changes in environmental and other laws or regulations that could have an impact on the Company’s operations, compliance with environmental laws and regulations, aboriginal title claims and rights to consultation and accommodation, dependence on key management personnel and general competition in the mining industry. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

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