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TICKERS: C

Explorer Reports First Drill Results from Nevada Gold Project
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According to the company, the findings indicate potential for further extension of the mineralization there.

Contact Gold Corp. (C:TSX.V) announced in a news release assays from two holes drilled as part of its initial program at its Green Springs project in Nevada that expanded the known zones of gold mineralization.

Hole GS19-07 hit and extended high-grade oxide gold mineralization where the north-south and northwest oriented structural zones converged. The hole was a 40 meter (40m) stepback that tested a previously reported intercept in the Echo zone. Echo is located 500m south of the past-producing Delta zone and 1 kilometer south of the Charlie zone.

Highlight assays from GS19-07 were 2.36 grams per ton (2.36 g/t) oxide gold over 70.1m from 80.77m, including 4.26 g/t gold over 38.1m from 85.35m and including 8.05 g/t gold over 12.19m from 89.92m.

The bottom of GS19-07 encountered 0.26 g/t gold over 1.52m, suggesting the presence of further Chainman-Joanna hosted mineralization at depth, the company stated.

"Extending the high-grade oxide gold at the Echo zone is an important achievement in advancing the Green Springs project. This first hole into the Echo zone shows the potential for continued growth of Chainman-Joanna hosted gold mineralization extending south from the past producing pits," President and CEO Matt Lennox-King said in the release.

Hole GS19-08, which targeted known mineralization at the Chainman-Joanna contact in the Charlie zone, returned 0.3 g/t oxide gold over 10.67m from 68.58m.

Contact Gold will report the remaining Green Springs drill results when they are available, the company stated.

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