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Go Metals Clarification to Corporate Update

newsfilecorp

Vancouver, British Columbia–(Newsfile Corp. – March 13, 2020) – Go Metals Corp. (CSE: GOCO) (“Go Metals” and/or the “Company“) wishes to clarify and/or retract statements from the news release disseminated by the Company on March 11, 2020.

The company wishes to clarify the following statement:

The Monster property is a large IOCG property in Yukon, Canada and traditional territory of Tr’ondëk Hwëch’in.

The Monster Property is 65 km2 and centered on a set of hematitic breccias of several km in diameter. Alteration mapping by the company in 2019 (News Release dated August 28th, 2019) confirmed the presence of IOCG-style alteration and mineralization.

The company also wishes to clarify the following statement:

Mineralization on the claim is similar to the giant Olympic Dam IOCG deposit.

Comparisons of the Monster Property to the Olympic Dam deposit concern the deposit model and general geological characteristics such as age, mineralogy, and alteration only. As noted above the IOCG deposit model is substantiated by Go Metals alteration mapping.

The Company also wishes to retract the following statement:

The geochemical results were also encouraging, as the highest gold value assayed was 3.4 g/t Au (n=28 samples, average 0.185 g/t Au, 3 values over 100 ppb). This value further highlights the potential of the Monster to host a significant amount of gold.

No defined resource currently exists for the Monster Property. Therefore, the premise that the Monster hosts a significant amount of gold cannot be substantiated by work completed to date.

Average Highest
Co 0.197% 2.037%
Cu 0.165% 0.948%
Ag 2.158 g/t 30.450 g/t
Au 0.185 g/t 3.407 g/t

Samples were sent to Groundtruth Exploration in Dawson, YT for geophysical property measurements. Following measurement samples were sent by truck to the Company, which sent part of the sample to MS Analytical in Langley for geochemical measurements. Samples were dried, crushed and pulverized according to preparation method PRP-710 and analyzed through Aqua Regia ICP-AES/MS according through method IMS-131. Samples with more than 1% Co were analyzed through ore grade aqua regia ICP-AES according through method ICA-6Co and samples with Au over 0.01 ppm were analyzed through fire assay FAS-415. Blanks and duplicates were inserted according to MS Analytical’s standard procedures. All lab standards and duplicates fall within acceptable limits.

The company wishes to retract the following statement because it might be considered overly promotional and is potentially misleading to investors:

We believe the Monster has world-class potential.

The Monster Property is an early stage exploration project.

The Company also wishes to add NI43-101 disclosures to the following statement:

The Bloom target is confirmed by several mineralized showings that grade up to 9.6% Co, 1.2 g/t Au and >1% Cu.

The Bloom is a drill target that has not been confirmed by drilling. The sample results and target geological characteristics were disseminated in a prior news release dated November 7th, 2018.

The Bloom consists of a coincident positive magnetic and gravity anomaly bounded by intermittent surface mineralization to the west, north and east. The Company considers this a geochemical confirmation of a geophysical exploration target, as opposed to a target based on geophysics alone. 30 Grab samples were taken around the Bloom target in 2018 and 2019.

Average Highest
Co 0.42% 9.6%
Cu 0.67% 3.2%
Ag 1.52 g/t 11.31 g/t
Au 0.06 g/t 1.16 g/t

Samples were sent to MS Analytical in Langley for geochemical measurements. Samples were dried, crushed and pulverized according to preparation method PRP-710 and analyzed through Aqua Regia ICP-AES/MS according through method IMS-131. Samples with more than 1% Co and/or Cu were analyzed through ore grade aqua regia ICP-AES according using method ICA-6Co and/or ICA-6Cu, samples with more than 5% Co were analyzed with sodium peroxide fusion ICP-AES using method PER-7Co, and samples with Au over 0.01 ppm were analyzed through fire assay FAS-415. Blanks and duplicates were inserted according to MS Analytical’s standard procedures. All lab standards and duplicates fall within acceptable limits.

The Company would further like to retract the statement:

Go Metals develops battery metal projects in Canada.

The Company is currently conducting early stage surface exploration on the Monster property and should not be considered a mining developer.

Qualified Person

Adrian Smith, P.Geo, is the qualified person for the Company as defined in the National Instrument NI43-101 and has reviewed the technical information presented in this news release.

For further information, please contact:

Scott Sheldon, President
Telephone: 604.725.1857
Email: scott@gometals.ca

Forward-Looking Information:

This press release may include “forward-looking information” (as that term is defined by Canadian securities legislation), concerning the Company’s business. Forward-looking information is based on certain key expectations and assumptions made by the Company’s management, including future plans for the exploration and development of its mineral properties. Although the Company believes that such expectations and assumptions are reasonable, investors should not rely unduly on such forward-looking information as the Company can give no assurance they will prove to be correct. Forward-looking statements in this press release are made as of the date of this press release. The company disclaims any intent or obligation to publicly update any forward-looking information (whether as a result of new information, future events or results, or otherwise) other than as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/53428