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Affinity Metals acquires Carscallen extension adjacent to Melkior-KL Gold Project

Oct 5, 2020

It's starting to get crowded in West Timmins. Affinity Metals Corp. has entered into an option agreement to earn up to a 100% interest in the Carscallen Extension property located immediately adjacent to the Melkior Resources- Kirkland Lake Gold Carscallen Project approximately 25 km west of Timmins. Affinity's Carscallen Extension property consists of 47 claim units covering approximately 940 hectares.

Melkior's Carscallen property has gained considerable attention in recent months since Kirkland Lake Gold ("KL") first entered into negotiations to join with Melkior in advancing the property. On September 30th, 2020, Melkior closed a strategic partnership with KL in an option deal worth up to $110 million. The confidence of a major producer like KL entering into an agreement of this size is very promising and shows the potential of this newly discovered gold system.

The Carscallen hosts high-grade gold and has strong indications of a base metal volcanogenic massive sulphide (VMS) system. In a news release dated June 26th, 2020, Melkior reported that to date, they have delineated a potential 800m striking gold system running NW-SE through the Zam Zam and Shenkman Gold Zones that is also open in both directions. The Affinity Carscallen Extension property borders Melkior's property to the north and is located on trend approximately 1000m NW of the presently defined gold system with similar underlying geology.

Melkior's Carscallen property and Affinity's Carscallen Extension property are located on the western end of the Abitibi Greenstone Belt, in the geopolitically stable and resource friendly province of Ontario. Along with the Frasier Institute deeming it the 4th most attractive mining jurisdiction in the world, the Abitibi Greenstone Belt is home to dozens of world class deposits, and has reportedly produced in excess of 170 million ounces of gold, 400 million ounces of silver, 15 billion tons of copper, and 35 billion tons of zinc.

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