Taura Discovers New Gold Zone in 2022 Shabu Exploration Program

VANCOUVER, BC / ACCESSWIRE / March 27, 2023 / Taura Gold Inc. (TSXV:TORA) (the "Company" or "Taura") is pleased to announce positive results from its 2022 exploration program at the Shabu project in the Birch Uchi area in the Red Lake Mining Division (Figure 1). The program aimed to expand a upon a previous soil grid covering the western portion of the Property, conduct geological mapping and prospect for gold and silver mineralization. Numerous highly anomalous results from grab sampling grading up to 6.4 g/t Au, identified a new area of gold mineralization and confirmed gold mineralization in the area of historic diamond drilling (Figure 2). These two gold targets, separated by a distance of 1.2 km, are connected by a trend of Au-Bi-Te-W anomalous soil samples.

News Highlights

• New Gold Zone Identified. A total of 69 grab sample results were collected at the Shabu property with numerous highly anomalous results grading up to 6.4 g/t Au (Table 1, Figure 3). These results confirm historic gold mineralization and identified a new area of mineralization 1.2 km to the southeast.
• 2 km Trend of Anomalous Soil Results. Results from the 2022 soil survey yielded 2 km northwest-southeast long trending of gold-bismuth-tellurium anomalies. This anomalous area correlates to known gold mineralization in bedrock. In 2022, 501 soil samples were collected, bringing the total database to 1024 soil samples. The highest gold in soil sample was 1.1 g/t Au.
• New Targets Identified. Several targets for future exploration programs have been identified as a result of the 2022 exploration program. Next steps include additional prospecting to test the extent of known gold mineralization along the 1.2 km trend, investigating the eastern portion soil anomalies that are unaccompanied by known mineralization in bedrock, and extending the coverage of soil sampling throughout the Property.

Table 1. Grab sample result highlights from the 2022 work program at the Shabu property.

About the Shabu Project

The Shabu property is located in the Birch-Uchi greenstone belt, approximately 80 km northeast of Red Lake, Ontario. The road accessible property is made up of 32 mining claims that cover an area of 720 ha. Historic work on the property has defined gold mineralization at surface through trenching and diamond drilling. Gold mineralization at the property occurs in quartz-carbonate veins with 2-3% pyrite hosted in shear zones associated with contacts of the granodiorite and porphyritic dykes.

About Taura Gold

Taura Gold is focused on gold exploration in Canada. It is currently actively exploring the Shabu Project in the Red Lake District of Northwestern Ontario. The Company is also active in assessing acquisition and joint venture opportunities in various jurisdictions from time to time.

The technical content of this news release has been reviewed and approved by Karly Oliver, P. Geo., Qualified Person pursuant to National Instrument 43-101.

ON BEHALF OF THE BOARD OF TAURA GOLD INC.

Dominic Verdejo
President and Chief Executive Officer

For further information, please call 604-678-5308 or email info@tauragold.com.

Neither TSX Venture Exchange nor its Regulation Service 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 statements, which are subject to a number of known and unknown risks, uncertainness and other factors that may cause the actual results to differ materially from those anticipated in our forward-looking statements. Although we believe that the expectations in our forward-looking statements are reasonable, actual results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.

SOURCE: Taura Gold Inc.