• Hole V-23-056 returned 372.9 m averaging 1.45 g/t Au, including 2.07 g/t Au over 212.4 m from surface, demonstrating strong continuity of near-surface >2 g/t Au grades across a large area on the Rogue Project's Valley target
• Hole V-23-055 returned 359.4 m averaging 1.34 g/t Au from surface including 1.71 g/t Au over 132.5 m, extending near-surface >1 g/t Au mineralization by over 100 m towards the open northeast edge of the mineralized system at Valley
• Analytical results pending for 8,300 m from 21 holes (including one metallurgical hole at Valley) across 4 targets in addition to results of extensive surface exploration campaign.

VANCOUVER, BC / ACCESSWIRE / November 9, 2023 / SNOWLINE GOLD CORP (TSX-V:SGD)(OTCQB:SNWGF) (the "Company" or "Snowline") is pleased to announce further analytical results from exploration holes drilled on its Rogue Project in Canada's Yukon Territory. Holes drilled within the Valley intrusion show consistent gold mineralization across broad intervals from surface. Hole V-23-055 averages 1.34 g/t over 359.4 m downhole from surface and expands the known limits of near-surface >1 g/t mineralization by >100 m from previous hole V-23-047. Hole V-23-056 averages 2.07 g/t Au over 212.4 m downhole from surface, within a broader mineralized interval of 1.45 g/t Au over 372.9 m, demonstrating strong grade continuity between previous widely spaced holes with significant >2 g/t Au intervals that also begin at surface. Assays for more than 8,300 m of diamond drilling from Snowline's 2023 exploration efforts remain pending.

Table 1 -Highlight summary of Snowline's latest assay results. *Interval widths reported; true widths of the system are not yet known.

"The latest results from our Rogue Project's Valley target further de-risk the discovery, adding to the known footprint of near-surface gold mineralization and demonstrating strong consistency of higher (>2 g/t Au) gold grades," said Scott Berdahl, CEO & Director of Snowline. "Intervals of hundreds of metres averaging >1 g/t Au or even multiple grams per tonne gold have not only become the norm at Valley but are without exception among 32 holes drilled to date within a core area spanning up to 600 m by up to 400 m in the western part of the intrusion. This consistency results in higher efficiency and reduced risk in exploration, as well as in subsequent deposit modelling, in project development, and ultimately in responsibly and cost-effectively producing gold. We eagerly await assay results for 12 additional holes drilled in and around this zone at Valley, along with additional holes and surface work from other parts of our >330,000 ha land position."

Figure 1 - Plan view of the Rogue Project's Valley target showing analytical results from previous and current drilling, along with drill traces of outstanding holes. Current results build upon the consistency of unusually high grades for a reduced intrusion-related gold system at Valley, with mineralized intervals beginning at or near surface across a large area. The system remains open to the northeast and at depth in multiple locations.

HOLE V-23-056

Hole V-23-056 is collared in coarse-grained granodiorite within the Valley intrusion roughly 59 m east of V-22-014 (285.2 m @ 1.45 g/t Au including 128.2 m @ 2.48 g/t Au from surface, see Snowline news release dated November 15, 2022) and 44 m west of V-23-036 (414.5 m @ 1.53 g/t Au from surface including 143.5 m @ 2.92 g/t Au, see Snowline news release dated July 18, 2023).

The hole commences in strong sheeted gold-bearing quartz vein mineralization from bedrock surface at 2.6 m downhole, averaging 2.07 g/t Au across the next 212.4 m. This marks the top of a broader 372.9 m downhole interval averaging 1.45 g/t Au overall. The highest sustained grades in the hole begin at 52.5 m downhole, averaging 3.50 g/t Au over the following 42.5 m. The hole exits the intrusion into weakly mineralized hornfels at 376.7 m downhole, marking the end of the consistently mineralized interval.

Figure 2 - Cross-section B, showing V-23-056 in the context of adjacent holes and a simplified, schematic geological model. Top: Analytical results received to date and still pending (thin black lines with blue collars). Bottom: Vein densities alongside instances of trace visible gold observed during logging. V-23-056 carries strong gold grades from surface to greater depths than expected based on adjacent hole V-22-014. Note that V-22-014 and V-23-036 are respectively behind and in front of the section, and thus they appear closer to V-23-056 in the section view than they are (see Figure 1). The high vein densities and visible gold count in V-23-067 suggest the near-surface system is still open to the east.

The consistency of mineralization in V-23-056 is highlighted by its capped values (Table 2), which-setting any >10 g/t Au assays equal to 10 g/t Au-remain unchanged. The highest assay value ran 9.35 g/t Au over 1.5 m from 87.0 m downhole. Consistency is further highlighted by the distribution of grades. Within the top 212.4 m interval, 77% of assays (measured by core length) returned >1 g/t Au and no assays returned <0.2 g/t Au. Within the higher-grade zone averaging 3.50 g/t Au over 42.5 m, all assays returned >1.3 g/t Au.

The results of V-23-056 demonstrate the integrity and spatial continuity of >2 g/t Au, near-surface mineralization towards the southeastern part of the Valley gold system.

HOLE V-23-055

Hole V-23-055 is collared in coarse-grained granodiorite of the Valley stock, roughly 101 m across strike from and along section with the nearest hole, V-23-047 (228.6 m @ 1.62 g/t Au from surface including 100.5 m @ 2.56 g/t Au, see Snowline news release dated September 11, 2023).

The hole encountered strong sheeted gold-bearing quartz vein mineralization from bedrock surface at 3.1 m downhole. The main interval of mineralization within the hole averages 1.34 g/t Au over 359.4 m from bedrock surface, with a higher-grade zone averaging 1.71 g/t Au over 132.5 m from 89.0 m downhole. The hole exits the intrusion at 352.1 m, and lower grade mineralization continues into the surrounding hornfels (averaging 0.16 g/t Au across 23.0 m from 369.0 m downhole, and the hole ends with the final 1.0 m @ 0.30 g/t Au).

As with V-23-056, gold grades in V-23-055 are not affected by grade capping at 10 g/t Au, demonstrating the consistent nature of mineralization across the broad mineralized interval.

The hole increases the known extent of broad, at-surface >1 g/t Au mineralization by >100 m from the nearest holes to the southwest, south and southeast, all of which carry similar or stronger gold intersections beginning from surface.

Table 2 - Summary of significant mineralization returned from current holes at Valley. The consistency of strong mineralization on the target is reinforced by the capped values in the rightmost column, wherein any assay result >10 g/t Au is replaced by 10.0 g/t Au to calculate the average interval grades. V-23-057 & V-23-058 were drilled well outside of the Valley intrusion to test for possible extensions of the broader intrusion-related gold system based on geological observations. *Interval widths reported; true widths of the system are not yet known, with different vein generations, orientations, and grade distributions present within various intervals through the bulk tonnage gold target at Valley.

Figure 3 - Cross-section A, showing V-23-055 in the context of adjacent holes and a simplified, schematic geological model. Top: Analytical results received to date and still pending (thin black lines with blue collars). Bottom: Vein densities alongside instances of trace visible gold observed during logging. The mineralized intersection from surface extends the known limit of at-surface >1 g/t Au mineralization by >100 m from the nearest previous hole, V-23-047, and it demonstrates a strong continuity to depth, with mineralization dropping off only after the hole leaves the Valley intrusion into surrounding hornfels.

REGIONAL DRILLING

Satellite Target Drilling, Rogue Project

At Cujo, a single-hole Phase I drill program intersected a broad zone of low to moderate spatial density quartz veins with trace visible gold in a coarse-grained granodiorite. Multiple intervals of low-grade gold mineralization are present (Table 3), including 32.0 m @ 0.38 g/t Au from 90.0 m downhole and 10.0 m @ 0.42 g/t Au from 225.0 m downhole. The entire hole averaged 0.11 g/t Au over 407.4 m. The results compliment surface work demonstrating the presence of a gold-bearing reduced intrusion at Cujo. Further work will seek to determine whether consistent higher grades are present within the intrusion.

At Gracie, assays for G-23-007 have been received. This hole was drilled away from the primary anomaly, targeting mineralized dikes observed on surface. The dikes were not encountered in the drill hole, and no gold values >1 g/t Au were returned from the hole, with elevated gold results occurring as rare, isolated instances. Higher bismuth values-an important pathfinder element for Valley-like intrusion-related gold systems-are present in this hole than in any of the 6 holes previously drilled at Gracie. Analytical results for an additional 2 holes from Gracie remain pending.

Tosh Project Drilling

Analytical results have been received for two holes from a six-hole Phase I diamond drill program at the Yarrow target on Snowline's Tosh Project, in the southwestern Yukon. This program represents the first-ever drill testing anywhere on the broader Tosh project area.

Localized, elevated gold values (0.10 to 0.46 g/t Au) were present as rare, discrete intervals in both holes, variously associated with faulting, brecciation and, in T-23-005, lenses of semi-massive sulphides in metamorphosed sedimentary host rocks. Three semi-massive sulphide zones, up to 0.2 m in thickness, carried anomalous silver (9.50 to 48.4 g/t Ag), copper (165 ppm to 0.27% Cu) and zinc (>1% detection limit) across broader downhole sample interval widths (0.7 m to 0.9 m). Dominant minerals are pyrite and pyrrhotite.

These initial results at Tosh demonstrate the presence of multiple styles of mineralization and the potential for multiple gold depositional events. Assays are pending for an additional four holes from the 2023 drill program.

Figure 4 - Map showing the location of the Tosh Project, in the southwest Yukon. Tosh covers a series of untested, kilometers-scale orogenic gold targets with geological similarities to the White Gold district roughly 100 km to the north. Resource figures shown are based on public disclosure from third parties and have not been verified by the Company.

Table 3 - Summary of mineralization returned from current holes on satellite targets and projects. "T-23-xyz" holes were drilled on the Tosh Project, whereas "CU-23-xyz"and "G-23-xyz" holes were drilled on the Cujo and Gracie targets respectively, both on the Rogue Project. Various lesser intervals are present but not listed. Coordinates are presented in NAD83 Zone 7 for the Tosh project (T-23-001 and T-23-005) and in NAD83 Zone 9 for the Gracie and Reid targets. **Interval widths reported; true widths of the systems are not yet known.

QA/QC

On receipt from the drill site NQ2-sized drill core was systematically logged for geological attributes, photographed and sampled at Snowline's 2023 field camp. Sample lengths as small as 0.5 m were used to isolate features of interest, but most samples within moderate to strong mineralization were 1.0 m in length; otherwise, a default 1.5 m downhole sample length was used. Core was cut in half lengthwise along a pre-determined line, with one half (same half, consistently, dictated by orientation line where present or by dominant vein orientation where absent) collected for analysis and one half stored as a record. Field duplicates were collected at regular intervals as ¼ core samples by splitting the ½ core sent for sampling, leaving a consistent record of half core material from duplicate and non-duplicate samples alike. Standard reference materials and blanks were inserted by Snowline personnel at regular intervals into the sample stream. Bagged samples were sealed with security tags to ensure integrity during transport. They were delivered by expeditor to Bureau Veritas' preparatory facility in Whitehorse, Yukon. Sample preparation was completed in Whitehorse, with analyses completed in Vancouver.

Similar procedures were employed on the Tosh Project, though drill core was transported to Whitehorse in advance of detailed logging and sampling.

Bureau Veritas is accredited to ISO/IEC 17025 and ISO9001 for quality management. Samples were crushed by BV to >85% passing below 2 mm and split using a riffle splitter. 250 g splits were pulverized to >85% passing below 75 microns. A four-acid digest with an inductively coupled plasma mass spectroscopy (ICP-MS) finish was used for 59-element analysis on 0.25 g sample pulps (BV code: MA250). All samples were analysed for gold content by fire assay with an atomic absorption spectroscopy (AAS) finish on 30 g samples (BV code: FA430). Any sample returning >10 g/t Au was reanalysed by fire assay with a gravimetric finish on a 30 g sample (BV code: FA530).

For the purposes of this release, mineralized intervals are defined as runs of mineralization with no break >5.0 m assaying <0.1 g/t Au, including any subsections thereof.

ABOUT ROGUE

The Valley target on Snowline's flagship Rogue Project is a newly discovered, bulk tonnage style, reduced intrusion-related gold system (RIRGS), with geological similarities to multi-million-ounce deposits currently in production such as Kinross's Fort Knox Mine in Alaska and Victoria Gold's Eagle Mine in the Yukon. Early drill results demonstrate unusually high gold grades for such a system, present near surface across drill intersections of hundreds of metres. Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays within and along the margins of a one-kilometer-scale, mid-Cretaceous aged Mayo-suite intrusion. Valley is an early-stage exploration project without a resource estimate, and while initial results are encouraging, the presence or absence of an economically viable orebody cannot be determined until additional work is completed.

The Rogue Project area hosts multiple intrusions similar to Valley along with widespread gold anomalism in stream sediment, soil and rock samples. Elsewhere, RIRGS deposits are known to occur in clusters. The Rogue Project is thus considered by the Company to have district-scale potential for additional reduced intrusion-related gold systems.

ABOUT SNOWLINE GOLD CORP.

Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering >333,000 ha. The Company is exploring its flagship >94,000 ha Rogue gold project in the highly prospective yet underexplored Selwyn Basin. Snowline's project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross's Fort Knox Mine, Newmont's Coffee deposit, and Victoria Gold's Eagle Mine. The Company's first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

Figure 5 - Project location map for Snowline Gold's eastern Selwyn Basin properties: Rogue, Einarson, Ursa, Cynthia and Olympus. The Valley target is one of several prospective reduced intrusion-related gold targets on the broader 30 x 60 km Rogue Project.

QUALIFIED PERSON

Information in this release has been prepared under supervision of and approved by Thomas K. Branson, M.Sc., P. Geo., VP Exploration of Snowline Gold Corp, as Qualified Person for the purposes of National Instrument 43-101.

ON BEHALF OF THE BOARD

Scott Berdahl
CEO & Director

For further information, please contact:
Snowline Gold Corp.
+1 778 650 5485
info@snowlinegold.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including statements regarding the significance of analytical results, the relationship between vein densities, visible gold and resultant analytical gold grades, cost-effective production of gold, the discovery potential within the Valley intrusion, the potential for investors to participate in multiple future discoveries, the Rogue project having district-scale prospectivity, the creation of a new gold district and the Company's future plans and intentions. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Such factors include, among other things: risks related to uncertainties inherent in drill results and the estimation of mineral resources; and risks associated with executing the Company's plans and intentions. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

SOURCE: Snowline Gold Corp.