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Florin Gold Project

Yukon Territory, Canada

St. James Gold Corp. Is Pleased To Announce Updated Resource On The Florin Gold Project, Yukon, With An Inferred Resource Of 2,474,000 oz Of Gold*

Florin Gold Project – Regional Geology

  • Inferred resource of 2.474 million ounces of gold in 171 million tonnes grading 0.45 g/t Au, with cut-off grade of 0.30 g/t Au at $1650/ oz gold.
  • The inferred resource estimate is located within a large prospective intrusive host rock that through geophysical interpretation covers a large area of the property. The prospective target area inclusive of the inferred resource measures 5 kilometers x 2.5 kilometers and extends to in excess of 500 meters in depth. Geophysical data indicates the intrusive rock forms the core of the dome, suggesting many cubic kilometers of prospective host rock.
  • 16,572 meters totalling 61 holes were previously drilled on the Florin Gold project.
  • Less than 1% of the project land package has been drill tested, geochemical & geophysical data suggests that gold mineralization remains open in all directions, both laterally and extending to depth from surface.
  • Drill ready and permit valid until March 2026.
  • Excellent infrastructure, road access, nearby private air strip, 54 km northwest of Mayo Hydro Dam and the town of Mayo, 29 km west of Victoria Gold’s producing Eagle gold mine.

Location Map, Yukon Territory, Canada

*(Ronald G. Simpson, 2021)

Key Technical Points

  • Drilling in an around the inferred resource area has not closed gold mineralization in any direction laterally or at depth, with the strongest mineralization open to extension along the NW Jethro Fault of the inferred resource and along strike to the SE where the Jethro and Treadwell Faults intersect.
  • The completed VTEM geophysical survey outlines the potential scope of the identified prospective volume of the host rock target and prospective exploration targets for future drilling programs.
  • Additional exploration programs were successful in defining prospective gold anomalies. Centered approximately 1 kilometer west of the current inferred resource the encouraging new exploration target exhibits a similar footprint to the inferred resource area with Geochem values at surface ranging from 99 ppb gold to 572.6 ppb gold over a broad area of approximately 1 km x 1 km. Another Geochem supported gold anomaly was also identified to the south east of the current resource area where the Treadwell fault intersects the Jethro fault.

Resource Drilling Area

Regional Activity

The project lies within the heart of the Tintina Gold Belt. Hart (2005) has estimated a total metal endowment on the order of 70 million ounces of gold within the Tintina gold belt. Key deposits include Brewery Creek, the Eagle deposit (Dublin Gulch/Victoria Gold) in the Yukon Territory and Kinross’s Fort Knox deposit, True North, Pogo and Donlin Creek in Alaska.

Kinross’ Fort Knox mine in Alaska with current Proven & Probable reserves of 3.37 million oz gold in 282 million tonnes at 0.37 g/t gold, plus past production of 7.5 million oz gold (J. Sims 2017 NI 43-101 Report).

The Brewery Creek deposit with 17.17 million tonnes at a gold grade of 1.45 g/t (0.726 million ounces; Barr, 2013).

Victoria Gold’s Eagle and Olive deposits with mineral resources estimates, (inclusive of proven & probable reserves of 3,261,000 oz gold in 155,000,000 tonnes at 0.65 g/t gold at $1,275/oz gold), which stand for Eagle at: measured & indicated 4,397,000 oz gold, in 217.4 million tonnes grading 0.63g/t gold, and inferred 361,000 oz gold in 21.5 million tonnes grading 0.52 g/t gold; and for Olive measured and indicated 329,000 oz gold, and 645,000 oz silver, in 9.5 million tonnes grading 1.98 g/t gold and inferred 210,000 oz gold and 400,000 oz silver in 7.3 million tonnes grading 0.89 g/t gold (2019 NI 43-101 Report)

The Florin Gold Project with an inferred resource of 2.474 million oz gold in 171 million tonnes grading 0.45 g/t Au, and cut-off grade of 0.30 g/t Au, pit constrained at $1650/ oz gold. (Ronald G. Simpson, 2021).

The Florin Gold tombstone intrusive is similar to other Intrusive deposit types in the area.

Market Cap – 8.8 B

Market Cap – 647 M

Grub Line Property

Gander area, Newfoundland

Regional Geology

The Island of Newfoundland forms the easternmost part of Appalachian Orogen and is divisible into four main tectonic zones (Figure 3). From west to east are the Humber Zone, which represents the ancient, Laurentian continental margin, the Dunnage Zone, which represents a series of Cambrian to Ordovician arcs and back-arc basin assemblages, the Gander Zone, which is dominated by metasedimentary rocks sourced from the Gondwanan margin, and the Avalon Zone, which contains Neoproterozoic rocks overlain by Cambrian-Ordovician sedimentary rocks that have Gondwanan affinities. The Dunnage Zone is further subdivided into the Notre Dame Subzone and the Exploits Subzone.

The Grub Line licence area lies in the Exploits subzone near the eastern edge of the Dunnage Zone in units of the Davidsville Group, a NNE-trending belt of mainly slate, interbedded with thick, coarse-grained greywacke units and intruded by linear, mafic to ultramafic, dykes that trend NNE and NNW and are thought to dip subvertically. They represent relics of an ophiolitic complex thrusted upon Middle Cambrian to Lower Ordovician arenites and shales of the Gander Zone. This tectonic margin forms a continental suture that is traceable through Newfoundland and into Ireland and Great Britain.

Dunnage Zone consists of various Cambro-Ordovician island arc and ophiolitic terranes overlain by turbiditic sedimentary cover and locally by late-orogenic (Late Ordovician– Silurian) molasse sequences formed during Taconid and Penobscot orogenies. The Dunnage Zone was subjected to later deformation during the Silurian Salinic orogeny and was intruded by Devonian granitoid plutons, and mafic stocks and dykes. Gold mineralization within the Dunnage Zone occurred coincident with late syn- to post Salinic orogenic events and is typically spatially related to major structural features and proximal to, or hosted in, intrusive bodies.

Quinn Lake Property

Central Newfoundland

Regional Geology

The Island of Newfoundland forms the easternmost part of Appalachian Orogen and is divisible into four main tectonic zones (Figure 3). From west to east are the Humber Zone, which represents the ancient, Laurentian continental margin, the Dunnage Zone, which represents a series of Cambrian to Ordovician arcs and back-arc basin assemblages, the Gander Zone, which is dominated by metasedimentary rocks sourced from the Gondwanan margin, and the Avalon Zone, which contains Neoproterozoic rocks overlain by Cambrian-Ordovician sedimentary rocks that have Gondwanan affinities. The Dunnage Zone is further subdivided into the Notre Dame Subzone and the Exploits Subzone.

The Grub Line licence area lies in the Exploits subzone near the eastern edge of the Dunnage Zone in units of the Davidsville Group, a NNE-trending belt of mainly slate, interbedded with thick, coarse-grained greywacke units and intruded by linear, mafic to ultramafic, dykes that trend NNE and NNW and are thought to dip subvertically. They represent relics of an ophiolitic complex thrusted upon Middle Cambrian to Lower Ordovician arenites and shales of the Gander Zone. This tectonic margin forms a continental suture that is traceable through Newfoundland and into Ireland and Great Britain.

Dunnage Zone consists of various Cambro-Ordovician island arc and ophiolitic terranes overlain by turbiditic sedimentary cover and locally by late-orogenic (Late Ordovician– Silurian) molasse sequences formed during Taconid and Penobscot orogenies. The Dunnage Zone was subjected to later deformation during the Silurian Salinic orogeny and was intruded by Devonian granitoid plutons, and mafic stocks and dykes. Gold mineralization within the Dunnage Zone occurred coincident with late syn- to post Salinic orogenic events and is typically spatially related to major structural features and proximal to, or hosted in, intrusive bodies.

Newfoundland Comparables:

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Press Releases

Latest News

7/28/2021

St. James Gold Corp. (TSX-V: LORD) Commences Diamond Drill Program at Florin Project, Yukon Territory, Canada

St. James Gold Corp. (TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3), St. James Gold Corp. (the “Company”) is pleased to announce that diamond drilling has commenced at the road- accessible, Florin Gold Project located in Mayo District, Yukon Territory, Canada (the “Florin Gold Project” – Figure 1). The Company is planning to complete a minimum of 7,000 metres of diamond drilling on the Florin Gold Project from now until mid-September aimed at expanding the 2.47-million-ounce inferred gold resource (170,993,000 tonnes grading 0.45g/t Au with a 0.30g/t Au cut-off) which sits on the northwest striking Jethro Fault (see the Company news releases dated April 9, 2021 and June 8, 2021)...