INVENTUS MINING PROVIDES UPDATE, SAMPLES 27 G/T GOLD, 1.7% COPPER FROM SELECTED GRAB SAMPLES ON SUDBURY 2.0 PROJECT

TORONTO, ONTARIO (August 6, 2020) - Inventus Mining Corp. (TSX VENTURE: IVS) (“Inventus” or the “Company”) is pleased to provide an exploration update on the Sudbury 2.0 project and to announce that Canadian Continental Exploration Corp. (“CCEC”), a private company of which Inventus is the largest shareholder with approximately 17%, has entered into a conditional asset purchase agreement with Conquest Resources Limited (TSX-V:CQR). See CQR news release: https://www.conquestresources.com/news/news-releases/2510/

 

Wolf Lake and Cobalt Hill Properties

 

New surface sampling at the Wolf Lake occurrence has returned additional high-grade results, with seven selected grab samples returning assays ranging from 0.2 to 27.0 g/t gold and from 0.1 to 1.7 % copper with anomalous cobalt, nickel, and rare-earth element (REEs) values. Grab samples are not representative of the mineralization hosted on the property.

 

Table 1. Inventus Assays of the Wolf Lake Mineralization

 

 

These assays are consistent with historic sampling from the area. In advance of drilling, Inventus has generated the first 3D geologic model derived from historic drill holes at Wolf Lake. This work has identified a northeast plunging pipe-shaped breccia body that hosts the gold-copper mineralization. Previous drilling was not designed to target a pipe-shaped breccia structure, and consequently did not test the mineralization beyond 200 metres depth, where it remains open.

 

Wolf Lake has been permitted for drilling and an application has recently been made for a permit to drill at the Cobalt Hill occurrence, which is 1.5 km to the south. Selected grab samples by Inventus in 2019 from the Cobalt Hill returned assays up to 0.25% cobalt, 0.34% nickel and 2.8 g/t gold (see Nov 27, 2019 news release). The Cobalt Hill mineralization was poorly tested by historic drilling and remains open at depth.

 

Drill Hole SH-01 in Sheppard Township

 

Recent examination of a historic drill hole (SH-01) on the Sudbury 2.0 project in Sheppard township, which had not previously been assayed, retuned 7.7 g/t gold over 0.4 metres at 826 metres. The hole was drilled by Wallbridge Mining in the year 2000 under a joint venture agreement with Falconbridge Ltd. to test a conductive anomaly associated with the Temagami Geophysical Anomaly (TGA). Examination of the drill core revealed the metasediments contained pervasive carbonate alteration over approximately 200 metres where quartz veins are present (see Figure 1). Hole SH-01 is located approximately 1.2 km east of Nick’s Lake, where similar quartz carbonate veins returned 15.6 g/t gold on surface (see July 2, 2020 news release). The alteration and veining in the core further support our belief that an intrusion-related gold-copper system is present above the TGA.

 

Sudbury 2.0 Project Developments

 

Since the Sudbury 2.0 project began in 2018, Inventus has identified many new mineral prospects above the TGA (see Figure 2). Recently, 20 square kilometres of mineral claims have been added to the project bringing the total area to approximately 216 square kilometres. The alteration, brecciation, veining systems, and their associated rare-earth-element enrichment have shown that an intrusion-related gold and copper mineral system is present and occurring above the TGA. This mineralizing system appears to have been active during the Sudbury impact event that generated the Ni-Cu-PGE ore deposits around the Sudbury basin.

 

Inventus has discovered multiple areas of Sudbury impact-related geology including Sudbury breccia and offset dykes. The possibility of Sudbury rocks interacting with the TGA intrusion presents intriguing opportunities for ore formation and a possible second age of Sudbury discovery.

 

Canadian Continental Exploration

 

Following completion of the transaction with CQR and concurrent financing, Inventus will hold approximately 6% of the issued and outstanding shares of CQR. Together, Inventus and Conquest will hold a dominant land position over the TGA.

 

Figures 1 & 2: http://www.inventusmining.com/s/IVS_Aug_6_Figures.pdf

 

About Inventus Mining Corp.

 

Inventus is a mineral exploration and development company focused on the world-class mining district of Sudbury, Ontario. Our principal assets are a 100% interest in the Pardo Paleoplacer Gold Project and the Sudbury 2.0 Project located northeast of Sudbury. Pardo is the first important paleoplacer gold discovery found in North America. Inventus has 122,701,069 common shares outstanding (145,925,289 shares on a fully diluted basis).

 

For further information, please contact:

 

Mr. Stefan Spears

Chairman and CEO

Inventus Mining Corp.

Tel: (647) 258-0395 x280

E-mail: info@inventusmining.com