VANCOUVER, British Columbia–(Newsfile Corp. – January 18, 2023)- Exploit Discovery Corp. (CSE: NFLD) (OTCQX: NFLDF) (FSE: 634) (“Exploits” or “Company”) is the Company’s detailed ground-based geophysical data conducted on Exploits’ highly promising Bullseye Gold. I am pleased to present the results and interpretations of my academic research. property. Data from this study support the location of the Appleton Fault Corridor that traverses the property over a strike length of approximately 1.2 kilometers. Bullseye is located about 1.8 kilometers north of the New Found Gold Lottery gold discovery.
President and CEO Jeff Swinoga commented: Drilling began in February, he said, and Bullseye could be a breakthrough catalyst for exploits and the state’s mining industry. “
Ken Tiley, vice president of exploration, added: promising area. “
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- Ground-based VLF/MAG surveys show that the Appleton fault corridor traverses the Bullseye property over a strike length of approximately 1.2 km.
- Additional low-order splay structures have also been identified at Bullseye, tending in both the NNW and NE directions.
- The Bullseye property sits between New Found Gold and recent significant gold discoveries by Labrador Gold.
shape: The map shows bullseye claims against the backdrop of the exploit’s interpreted structure and VLF (In-Phase) data. Both VLF (Very Low Frequency Electromagnetic) and MAG (In situ Magnetic) are industry-standard subsurface mapping tools that can display important geological features such as lithology indications, faults, and late intrusions.
Bullseye VLF and MAG Surveys
Exploits commissioned Simcoe Geoscience Ltd. to conduct the Bullseye Surface Geophysics Program. In late December 2022, a total of 48 line kilometers were walked with a line spacing of 50 meters. In conjunction with the VLF data, the magnetic results of this survey indicate that the Appleton Fault Corridor extends to the Bullseye site, providing an interpretation of the lower-order splay structures adjacent to the Appleton Corridor.
Bullseye Property
On September 27, 2022, Exploits acquired 11 mineral claims (2.8 km²) through the state’s map staking process. Exploits has 100% interest in these claims. Bullseye Creme is located about 3 kilometers north of the town of Appleton and is easily accessible via an existing forest road and trail network.
On December 7, the company announced it had received an Exploration Permit from the State of Newfoundland and Labrador relating to conducting responsibly exploration activities within its new ‘Bullseye’ claim. The central ‘h-shaped’ property is directly adjacent to the New Found Gold and Labrador Gold properties, which currently have over a dozen drill rigs in operation.
National Instrument 43-101 Disclosure
Ken Tylee, P.Geo., VP of Exploits with Exploration, is a qualified person for the provinces of Ontario, Newfoundland and Labrador as defined by NI 43-101. Tylee has reviewed and approved the technical information contained herein.
About Exploits Discovery Corp.
Exploits is a Canadian mineral exploration company that actively identifies, explores, acquires and advances gold projects in Newfoundland and Labrador, Canada. The exploit’s claims cover approximately 2,000 square kilometers of mineral facilities.our company’s Exploration 2.0 The methodology focuses on the discovery of high-quality structurally-hosted epizonal gold, similar to the success of new found gold in the Keats and Lotto zones of the Exploit subzone. Exploit is on his way to becoming one of the most widespread gold seekers in the Exploit subzone.
On behalf of the Board of Directors
/s/ “Jeff Swinoga” President and CEO
For more information, please contact:
Shanda Kilbourne
VPs, IRs
+1 (778) 819-2708
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https://exploitsdiscovery.com/
Neither the Canadian Stock Exchange nor its regulatory service provider (as that term is defined in the Canadian Securities Exchange Policy) assumes responsibility for the adequacy of the accuracy of this news release.
Forward-Looking Statements
This news release contains certain forward-looking statements that relate to future events or future performance and that reflect management’s current expectations and assumptions. Such forward-looking statements reflect the current thinking of management and are based on information and assumptions currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to market conditions, financing availability, our exploration and other activities, environmental risks, future metals prices, operational risks, accidents, Labor issues, delays in obtaining government approvals and permits, and other risks in mining. All forward-looking statements made in this news release are qualified by these cautionary statements and statements in the continuing disclosure documents available at SEDAR. www.sedar.com. These forward-looking statements are made as of the date hereof and we may update or revise them to reflect new events or circumstances, except as required by applicable law. assume no obligations.
Acknowledgments
Exploits Discovery would like to thank the Department of Natural Resources of the Government of Newfoundland and Labrador for financial support of the Junior Exploration Assistance Program.
