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Prime Meridian Resources Corp. releases overview of Red Lake Projects

Sep 15, 2021

Prime Meridian Resources Corp. (TSXV: PMR) ("PMR" or the "Company") is pleased to provide the following overview of both the Company's projects and its neighbors' activity in the Dixie Lake area of the Red Lake Mining District. Historically, the Red Lake Mining District has produced approximately 30,000,000 ounces of gold.

PMR's total land position in the Red Lake Dixie area now comprises 10,180 hectares. The Company's claims in the Bruce Lake and Camping Lake projects now cover approximately 8.5 kilometres of the Pakwash Lake Fault Zone and 18.0 kilometres of the Sydney Lake Fault Zone.

Deep Fault Interpretation

The source of gold mineralization at the main mine trend at both Red Lake and the LP Zone of Great Bear Resources' Dixie Project is believed to be related to a similar deep crustal source. A 2006 geophysical survey suggests that the same structure associated with GBR's LP Zone is associated with the Pakwash Lake Fault Zone (PLFZ) and Sydney Lake Fault Zone (SLFZ), which underlie a large extent of Prime Meridian's newly-expanded land position (Figure 2).

A 3D seismic traveltime tomography cross-sectional interpretation from Zeng and Calvert (2006) identifies two major crustal-scale structures underlying the Red Lake district. One structure is associated with the main mine trend at Red Lake (right, north along cross-section), while the second structure is believed to be associated with the LP Fault Zone of Great Bear Resources' Dixie Project (left, south along cross-section).

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