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Solstice Gold commences field programs at RLX Project, Red Lake

May 27, 2021

Solstice Gold Corp. has announced they have completed a preliminary interpretation and commenced field programs at their 55 km2 RLX project, located in the prolific Red Lake Mining Camp approximately 25 km North-East of Red Lake.

The interpretation utilizes the Company’s recently completed 50 m-spaced magnetic survey combined with previous mapping, electromagnetic and magnetic surveys completed by the Ontario Geologic Survey (OGS)* and limited drilling completed by Placer Dome in 1980. A preliminary compilation map is presented in Figure 1. Ground programs in May-June 2021 will include mapping, prospecting and soil and biogeochemical surveys of initial target areas.

Summary of Project compilation

Solstice acquired RLX because it is an under-explored extension of the main Red Lake greenstone belt in a similar geological setting to the nearby Sidace Gold Deposit (Evolution Mining Ltd. and Pacton Gold Ltd.). Like Sidace, RLX is characterized by greenstone sequences associated with extensive electromagnetic conductors. In addition, RLX lies at the confluence of several major structures (Figure 1) supported by OGS and other data sources. Recently, Ministry of Northern Development and Mines (“MNDM”) geologists drew attention to the potential presence of a prominent geological structure as the third major structure in the district**. Other similar structures are located close to major gold deposits according to the MNDM. The location of a major crustal structure in the vicinity of RLX is further supported by seismic studies in 20043 and the documented presence of deep-sourced intrusives (Sanukitoids) on the property.

Based on a 2008 OGS 200 metre-spaced airborne EM* survey, we currently recognize four extensive EM trends/target areas A-D (Figure 1). Major NNW-trending faults are part of the Nungessor Deformation Zone (NDZ). Other NNE-trending faults are present. These appear to be rooted in the NDZ. One of these structures (target area D) is observed to extend through the NDZ. The fault(s) in this area may extend to the Sidace gold deposit area and at RLX are associated with NE-trending EM anomalies and possible rotation of stratigraphy. In 1980, Placer Dome drilled 12 short drill holes (1352m) on the property representing very wide-spaced tests. According to logs and filed location data in assessment files, four of these drill holes either did not test their intended target or were drilled in the wrong direction. All holes appear to be under-sampled with only 10% of the material being assayed despite descriptions of extensive sulphide mineralization in the drill logs. Despite this, two drill holes intercepted gold (0.68g/t in three sampled sections totalling 10 feet). A further two drill holes were sampled but assays were not reported in filed assessment logs. Drill logs note the presence of felsic volcanics over 1.5km strike length (open) and three drill holes report well mineralized skarns. Collectively, these observations lend support to an environment similar to Sidace where the aforementioned features are also observed.

Figure 1: RLX Project https://www.globenewswire.com/NewsRoom/AttachmentNg/74176d65-90c3-4d5e-b65b-0a044e8ca747

2021 Ground Based Exploration Program

Mapping and prospecting designed to further evaluate the initial target areas and to upgrade project geology is headed up by Solstice lead geologist, Sandy Barham. Sandy has over 30 years of experience running field programs and his work has successfully led to the discovery and development of multi-million ounce gold deposits.

We shall also be carrying out soil and biogeochemical sampling surveys over four initial target areas. Because we expect relatively deep overburden in the area of EM conductors, these surveys are designed to test for a geochemical response in humus (Ah soil horizon) and/or certain tree/shrub species. The design and interpretation of this work will be conducted under the supervision of a leading expert in the field of Biogeochemistry, Dr. Colin Dunn.

“We identified the potential of RLX using our previous experience in the Sidace area along with a review of all available scientific data. As OGS and other data show, RLX occupies the extension of the prolific Red Lake greenstone belt in an area where several major crustal scale structures coalesce. This represents a prime setting for gold mineralization. Despite the property having seen only cursory exploration to date, we do know gold is present along with extensive sulphides and alteration which we believe may be analogous to the geological setting of the Sidace gold deposit. It is interesting to note that, like RLX, Sidace was also explored by Placer Dome (1979) who reported some gold in drilling. However, it would be 20 or so years later before the Sidace deposit was discovered. This Program will provide the data required for the next level of targeting as we continue to advance towards our goal of a drill program on RLX in late 2021 to early 2022,” stated David Adamson, Chairman.

During his successful 16 years of exploration in the Red Lake camp, David Adamson was a co-award winner for the discovery of the Bateman Gold deposit which was recently acquired by Evolution Mining for C$343 million4. In addition, David was instrumental in the acquisition of many of the Red Lake district properties in the Battle North portfolio that was also acquired by Evolution Mining.

During the course of our exploration program Solstice staff will adhere to health and safety protocols and guidelines, in particular those related to COVID-19, as provided by the Departments of Public Health of both the Federal and Provincial Governments.

Additional details regarding the RLX Project are available in the Company’s news releases dated February 2, 10, 11 and March 16, 2021 and in the updated presentation on the Company’s website at www.solsticegold.com.

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