VANCOUVER, British Columbia, April 11, 2018 (GLOBE NEWSWIRE) -- Pistol Bay Mining Inc. (TSX-V:PST) (Frankfurt:OQS2) (OTC/Pink Sheet symbol:SLTFF) (“Pistol Bay” or the “Company’) is pleased to provide an update on its 3,500-metre diamond drilling program on its 51,000-acre Confederation Lake property in northwestern Ontario.
Drilling of the first two holes on the Arrow Zone has been completed. Core samples from the first hole have been sent to the lab for assaying. The core from the second hole is currently being logged. Sampling of the second hole will be carried out after the hole has been logged.
The drill is being moved to the site of the third hole and drilling will commence on this hole as soon as the drill is set up.
Following is a selection of drill intersections from previous diamond drill holes on the Arrow Zone by Noranda Exploration in 1997-1998 and Tribute Minerals Inc. in 2004-2007.
| DDH-ID | From (m) | To (m) | Core Length | True width | Cu% | Zn% | Ag g/t | Au g/t |
| GL1997-02C | 451.80 | 456.10 | 4.30 | 3.51 | 3.07 | 27.16 | 50.4 | 2.105 |
| GL1997-04 | 469.00 | 474.80 | 5.80 | 4.25 | 1.61 | 9.36 | 37.0 | 0.818 |
| GL2004-08 | 325.00 | 335.20 | 10.20 | 7.13 | 0.95 | 8.50 | 25.3 | 1.018 |
| GL2006-18 | 513.50 | 518.90 | 5.40 | 3.84 | 0.66 | 18.71 | 25.6 | 0.446 |
| GL2006-27 | 304.90 | 309.05 | 4.15 | 3.20 | 0.59 | 10.59 | 19.6 | 0.730 |
| GL2006-39 | 338.83 | 343.10 | 4.27 | 3.00 | 1.21 | 18.54 | 8.2 | 0.413 |
| GL2007-50 | 526.50 | 537.60 | 11.10 | 7.99 | 0.92 | 2.45 | 15.1 | 0.496 |
| GL2007-53 | 560.35 | 567.40 | 7.05 | 5.39 | 1.20 | 4.28 | 25.4 | 0.834 |
Following drilling on the Arrow Zone, the drill will move to the Fredart Zone, which was drilled in the 1960s and contained copper mineralization of VMS type with associated silver values. Only the first four holes were assayed for gold.
The technical information in this news release was prepared and/or reviewed by Colin Bowdidge, Ph.D., P.Geo., a Qualified Person as defined in National Instrument 43-101.
About Pistol Bay Mining Inc.
Pistol Bay Mining Inc. is a diversified Junior Canadian Mineral Exploration Company with a focus on zinc and base metal properties in North America. The company has also created a subsidiary for resource driven blockchain applications. For additional information please visit the Company website at www.pistolbaymininginc.com or contact Charles Desjardins at pistolbaymining@gmail.com.
On Behalf of the Board of Directors
PISTOL BAY MINING INC.
"Charles Desjardins"
Charles Desjardins,
President and Director
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.
Cautionary note:
This report contains forward looking statements. Resource estimates, unless specifically noted, are considered speculative. Any and all other resource or reserve estimates are historical in nature and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.