NewOrigin Further Defines Nickel-Copper Potential at its South Abitibi Property

(TheNewswire)

Toronto, ON - TheNewswire - February 23, 2023 - NewOrigin Gold Corp.(TSXV:NEWO) has received assay results from a reconnaissance mapping and sampling program completed during the fall of 2022 at its South Abitibi Project (“South Abitibi”). South Abitibi covers 16,485 hectares and is located 15 kilometres southwest of Cobalt, Ontario near the southern margin of the Abitibi Greenstone Belt. Results have highlighted the exploration potential for nickel-copper discoveries at and along trend east of previously explored areas outlined by NewOrigin during past field seasons.

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Massive and Semi-Massive Sulphide Contact in the Newly Sampled Area

A total of nine rock samples were collected within a small area at the center of the property which hosts historic occurrences of nickel (“Ni”) and copper (“Cu”). Ni-Cu occurrences can historically be traced along a 1.7 km east-west trend with the most recent samples taken from an area at the eastern portion of the trend and returned assays up to 1.0% Ni and 0.5% Cu. Sample values for base metal sulphides were returned as follows:

The sample area hosts a Ni-Cu sulphide zone up to 7 metres thick and appears to be located at the contact between steeply-dipping ultramafic and mafic volcanic rocks to the north and felsic volcanic/cherty sedimentary rock to the south. The zone is characterized by disseminated to massive and semi-massive sulphides dominated by pyrite, pyrrhotite, chalcopyrite and pentlandite.

The western portion of the Ni-Cu trend is associated with massive and semi-massive sulphide nearby mafic intrusive rocks similar to those at the Kanichee Cu-Ni mine 10 kilometres southwest of South Abitibi. In addition, a 1.5 kilometre long series of airborne electromagnetic anomalies was detected by a “VTEM” survey flown by NewOrigin in 2015. The VTEM target anomalies are located in a north-south trend 1 kilometre southeast of the sampled area within mafic volcanic rocks. This 1.5 kilometre long trend is not exposed at surface and has never been drill tested.

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NewOrigin’s exploration to date at South Abitibi includes airborne magnetic and electromagnetic surveying, prospecting, geological mapping, induced polarization geophysics and diamond drilling conducted between 2015 and 2018. The majority of exploration work to date has been focused on evaluating gold mineralization north of the 1.7 km Ni-Cu trend. In 2018, NewOrigin completed 2 drill holes at the western end of the Ni-Cu trend and intersected up to 0.21% Ni across 1 metre and 0.39% Ni across 0.2 metres. The trend remains open to the west. The gold occurrences remain a key focus and warrant further work. However, rising global demand for “Critical Minerals” has prompted re-evaluation of the extensive Ni-Cu and cobalt potential of the South Abitibi Project.

Historic exploration of the Ni-Cu trend was conducted primarily by Rib Lake Copper Mines (1952), Coniagas Mines Ltd (1956), Nickel Rim Mines Ltd (1963, 1964, 1965, 1971 and 1972). These companies completed approximately 40 drill holes and identified a trend of prospective sulphide occurrences over a 1.7 km strike length. Drilling returned values of up to 0.6% Ni and 0.2% Cu across 7.04 metres. Importantly, this area was placed under an exploration moratorium from 1972 to 1996 (24 years) during which time no mineral exploration could be conducted. Following the moratorium, 4 drill holes were completed in the area by Raven Resources in 1999 and 2 holes by Temex in 2011. Raven Resources hole WL-4-99 returned 0.5% Ni and 0.3% Cu across 5.5 metres. Much of the earlier work was conducted without the assistance of modern geophysical targeting and data analytics methods and all occurrences identified to date remain open along strike and at depth.

South Abitibi is located within a very metal-endowed segment of the Abitibi Greenstone Belt with the world-class districts of Sudbury (Ni-Cu-PGEs) to the southwest, Cobalt (Co-Ag) to the northeast and Kirkland Lake (Au) to the north. NewOrigin plans further investigation of the “Critical Mineral” potential of the South Abitibi property and is seeking a partner to advance the property.

About NewOrigin Gold Corp.

NewOrigin Gold Corp. (formerly Tri Origin Exploration Ltd.) is a Canadian exploration company focused on drill discovery at its gold projects in the Canadian Shield. NewOrigin’s management and board have extensive experience in the delineation and development of gold deposits. Company shareholders include O3 Mining Inc. and Osisko Mining Inc. NewOrigin Gold trades on the TSX Venture Exchange under the ticker “NEWO”.

Technical Information

Samples were submitted to Activation Laboratories in Ancaster, ON. Samples targeting gold mineralization were analyzed using fire assay with atomic absorption (FA-AA) finish and trace elements analyzed by ICP-MS with 4-acid digestion. Massive and semi-massive sulphide samples were analyzed by ICP-OES and ICP-MS with sodium peroxide fusion. Results obtained from grab samples of rock are not indicative of the overall metal content of the rock unit sampled. Accuracy of metal content quoted from historic assays cannot be verified by the Company. Historic assays quoted in this news release were obtained from records stored by the Ontario government in mineral assessment files. This press release and technical data referred to in the release was reviewed by Mr. Mark Petersen, P. Geo., an advisor to NewOrigin. He is a Qualified Person as defined by National Instrument 43-101.

For Further Information Contact:

Andrew Thomson, CEO
Ph: 905 727-1779 or visit www.neworigingold.com

Cautionary Statement regarding Forward Looking Statements:

Neither 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. This News Release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the intention to complete the foregoing, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, the Company’s ability to obtain all approvals required in connection with the foregoing, the Company’s ability to predict or counteract potential impact of COVID-19 coronavirus on factors relevant to the Company’s business failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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