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Dryden Gold Corp. welcomes Rob McEwen as new investor

Jan 15, 2024

Dryden Gold Corp. has provided an update for its 2023 and 2024 exploration program. The company would also like to welcome Mr. Rob McEwen to its growing shareholder base. Mr. McEwen was a lead order in the company's recent RTO financing and currently holds 5.01% of Dryden Gold's common shares on a fully diluted basis. For complete details of the financing see the Company's press release of January 4, 2024, and filed on SEDAR+.

As the founder and former Chairman of Goldcorp, Mr. McEwen operated the Red Lake Mine in Ontario and discovered the prolific high-grade zone (HGZ). The Red Lake mining district has produced over 26 million ounces of gold through 2020. Currently, Mr. McEwen is the Executive Chairman and Chief Owner of McEwen Mining Inc. He commented on his Dryden Gold investment, "I am very familiar with Dryden Gold's property and have always felt it had high-grade potential and was under-explored. Goldcorp, now Newmont Corporation (NYSE: NEM) held the patented claims for many years and I was disappointed to see it sold without ever being drilled by Goldcorp".

"We are honored to have Mr. McEwen as a significant shareholder, as he is very experienced in orogenic gold systems from his past success in Red Lake. Our technical team looks forward to Mr. McEwen's input as we develop our strategic land package in the Dryden District," stated Maura Kolb, the President and Head of Exploration for the Company.

Exploration Update

Dryden Gold initiated an exploration drilling campaign at the Gold Rock Camp in November 2023. The ongoing program consists of four distinct phases. This phased approach enables an integrated geological approach and the insights gained from each phase of the program are worked into the subsequent phases, enhancing the understanding and targeting strategy. Dryden has accomplished approximately half of the anticipated 3,000-meter drill program during November and December. Up to this point, a total of 13 holes have been drilled, accounting for 1,613 meters in total depth. Assays from these holes are pending.

In November, the initial drilling phase concentrated on extending the known strike along the northeast portion of the Big Master vein system. This vein system has a history of shallow mining dating back to the early 1900's and has undergone exploration by Dryden's predecessors. These initial five holes were strategically designed to test the areas beneath mapped and chip-sampled veins that had never undergone drill testing before.

In December's drilling phase, the primary objective was to enhance our comprehension of the orientation of high-grade mineralization in the Big Master vein system. In 2011, the property yielded its highest-grade historic intercept, recording a grade of 3,497 g/t Au over 8.45 meters including, within the vein itself, 53,700 g/t Au over 0.55 meters. For more information, refer to the Assessment Report filed with the Ontario Mining Ministry by Manitou Gold Inc. on the Kenwest Property-2011 and 2012 Diamond Drill Program (January 2013) found here.

The working hypothesis suggests that the high-grade mineralization aligns with the steep plunge of either the intersection lineation of fault structures or the regional folding. To validate this theory, the geology team conducted drilling along this steep plunge projection, adjacent to the previously drilled high-grade mineralization.

In 2024, the January drill phase will center on testing the Elora vein trend. This trend notably encompasses two historic mines dating back to the turn of the century. Previous drilling conducted during the 1980s and 1990s rendered promising results. The upcoming drill program aims to test the southward extension of this vein trend. This drill phase involves both infilling the existing trend and further extending its reach along the strike.

The Company has prepared and filed a technical report in respect of the Dryden Gold Properties titled "NI 43-101 Technical Report Dryden Gold Project" and dated effective September 6, 2023, prepared for the Company by Calvin Church, P.Geo, a copy of which can also be found under the Company's profile at www.sedarplus.ca.


Dryden Gold Corp. is an exploration company focused on the discovery of high-grade gold mineralization listed on the TSX Venture Exchange ("DRY"). The Company has a strong management team and Board of Directors comprised of experienced individuals with a track record of building shareholder value through property acquisition & consolidation, exploration success and merger & acquisitions. Dryden Gold controls a 100% interest in a dominate strategic land position in the Dryden District of Northwestern Ontario. Dryden Gold's property package includes historic gold mines but has seen limited modern exploration. The property hosts high-grade gold mineralization over 50km of potential strike length along the Manitou-Dinorwic deformation zone. The property has excellent infrastructure, enjoys First Nations support and proximity to an experienced mining workforce.


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