Evergold Gearing Up to Drill its Two Flagship Projects in Northern B.C. This Season

TORONTO, April 21, 2020 (GLOBE NEWSWIRE) -- Evergold Corp. (TSXV: EVER) (“Evergold” or the “Company”), is pleased to report that work initiated some ten days ago on the bridges along the access road leading toward its Golden Lion property in northern British Columbia, Canada, is expected to conclude late this week.  The work is being carried out by contractors from the Tsay Keh Dene and Kwadacha First Nations with financial support from a consortium of industry participants including the Company, along with the B.C. Government.

“We are preparing to drill both our flagship properties, Golden Lion and Snoball, this field season,” said Kevin Keough, President & CEO. “Among the factors that provide us with confidence in our ability to execute, COVID-19 notwithstanding, is the expeditious manner in which these bridge repairs are being carried out. Moreover, B.C. Solicitor General Mike Farnworth has designated mineral exploration and development an “essential service” under COVID-19 State of Emergency orders, and the province as a whole has really managed to flatten the pandemic curve.  We now also have drill permits in hand for both our Snoball and Golden Lion properties, and ample funds following our successful $3.45 million initial public offering last fall. Lastly, all of our key suppliers are located relatively close to site in northern and central interior B.C. In sum, all the key elements are in place for a season of discovery success, and we’re really looking forward to getting the drills turning.”    

Field work at Golden Lion is scheduled to commence in late May with baseline environmental work, to be followed about mid June, subject to snow conditions, by geophysical, geochemical and geological programs to refine drill targets. Drilling will then start in the latter half of July. At Snoball, where key drill pads are already in place, field work will commence about mid June, also subject to snow conditions, to be followed shortly thereafter by drilling.

Details of the Company’s plans and properties may be found in the prospectus and two NI 43-101 technical reports filed to SEDAR in support of the Company’s IPO and listing on the TSXV, which closed October 4, 2019.  The technical reports are also available from the Company’s website at www.evergoldcorp.ca. 

COVID-19 mitigation plans and protocols

The Company understands that the isolated First Nation communities of northern British Columbia are at particular risk from the COVID-19 pandemic.  Fortunately, neither the Golden Lion nor the Snoball properties are located anywhere near communities, and travel to them is for the most part through remote, unpopulated country. Regardless, for the safety of all involved, virus mitigation protocols – for both Evergold personnel and contractors - will emphasize firstly ensuring that field crew personnel are free of the virus prior to traveling to exploration sites and, once there, that physical distancing and other mitigation measures are enforced.   

To this end, personnel will be required to self-isolate and maintain social distancing for two weeks ahead of the start of work.  Moreover, immediately prior to traveling to site, each member of a crew will be required to complete and attest to a questionnaire confirming the absence of symptoms such as fever and shortness of breath, commonly associated with the COVID-19 virus.  Additionally, a temperature check and “fast test” for the presence of the virus using COVID-19 testing equipment supplied by Spartan Biosciences Inc. of Ottawa, Ontario, will also be performed immediately prior to crew departure.

During transit to site by vehicle and/or helicopter, when crew members cannot adequately physically distance, masks will be required.  Crew sizes for all exploration activities will be limited to the minimum required personnel, and physical distancing will be required to be practiced during field operations.  Additional precautions will include hand sanitizer stations at staging areas and drill sites, and the regular disinfection of “high-touch” areas. In order to decrease the frequency of crew changes and travel required, the Company is also discussing with its contractors and the Ministry the possibility of extending personnel rotations beyond the norm.

Quality Assurance and Quality Control

Andrew J. Mitchell, P.Geo., Vice President, Exploration for Evergold Corp. and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical information in this news release.

About Evergold

Evergold Corp. has been assembled by a team with a record of recent success in British Columbia, combining four 100%-owned properties in prime geological real estate from one of BC’s best-known geologists, C.J. (Charlie) Greig, with seasoned management and a qualified board.  The Company’s flagship assets consist of the 3,545 hectare Snoball property, located in the heart of BC’s famed Golden Triangle only 12 kilometres off highway 37, where the Company believes it has located the source of a large, strong gold-silver anomaly up-slope of previous work, and the 5,099 hectare Golden Lion property, located well to the east of Snoball in similar Stikine terrane rocks, at the north end of the Toodoggone region, where multiple strong gold-silver-copper targets have been outlined.  The Company intends to carry out the first-ever drilling of selected targets on both properties in the forthcoming 2020 field season. 

Peak Investor Marketing Retained

The Company has retained the services of Peak Investor Marketing Corp. (“Peak”) on a month-to-month basis to assist with marketing, communications and public relations.  In consideration for these services, the Company has granted Peak a monthly retainer of $10,000, and issued 100,000 stock options at an exercise price of $0.20, vesting as to 25% on each of the 3, 6, 9 and 12-month anniversaries of the agreement.                           

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 news release.

Cautionary Statement Regarding Forward-Looking Information

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. 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 as disclosed under the heading "Risk Factors" described in the Company’s Prospectus and elsewhere in the Company's filings with Canadian securities regulators. There can be no assurance that such statements 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 statements. 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.