Warrior Gold Announces High-Grade Gold Drilling Results at Goodfish-Kirana Property, Kirkland Lake, Ontario

TORONTO, June 6, 2019 -  Warrior Gold Inc. (TSX-V - WAR) ("Warrior Gold Inc." or the "Company") is pleased to announce the results of the Company's winter diamond drilling program (15 drill holes - 2,218 m) at its 100% owned Goodfish-Kirana Project in the Kirkland Lake Camp in Ontario. Selected highlighted assay results from the Phase One program are provided in Table 1.

Program Highlights:

• Numerous significant gold assays obtained
• Repetition of historical high-grade assays achieved
• Confirmation of geological model

Significant Drill Results:

At C Zone:

• GF19-003: 21.33 g/t Au over 2.45 m (at a vertical depth of 90 m)
• • including 103 g/t Au over 0.50 m with visible gold
• GF19-004: 10.40 g/t Au over 0.90 m (at a vertical depth of 28 m)
• GF19-005: 7.75 g/t Au over 1.0 m (at a vertical depth of 47 m)
• GF19-005: 6.56 g/t Au over 0.95 m (at a vertical depth of 89 m)
• GF19-007: 104.5 g/t Au over 1.0 m (at a vertical depth of 53 m)

At A Zone:

• GF19-008: 9.04 g/t Au over 5.37 m (at vertical depth of 44 m) including 42.70 g/t Au over 1.0 m
• GF19-009: 1.12 g/t Au over 13.46 m (at vertical depth of 67 m) including 4.90 g/t Au over 1.35 m
• GF19-011: 1.75 g/t Au over 5.47 m (at vertical depth of 82 m) including 4.04 g/t Au over 1.2 m
• GF19-013: 6.47 g/t Au over 1.0 m (at vertical depth of 39 m) including visible gold

The Goodfish-Kirana Property is located five km north from downtown Kirkland Lake, in the Blake River Mafic Volcanics, north of the Cadillac Larder Lake Fault Zone, and within the Abitibi Greenstone Belt.The Property hosts three major gold mineralized geological structures, as well as many historical shallow pits and shafts that date back to the 1930s. The Goodfish-Kirana Property is a recently consolidated significant land package that has been underexplored due to past fragmental ownership. Warrior Gold Inc. has completed 2,800 m of drilling from 20 holes (five in 2018 and 15 in 2019) and the newly confirmed gold mineralization remains open along strike and at depth.

Danièle Spethmann, President and CEO commented: "We are very pleased with the results of this Phase One drilling campaign which has substantiated the historical high-grade gold results. The drilling results indicate that mineralization is open both along strike and at depth at the A and C Zone. Additionally, at Deloye drilling has been demonstrated that the auriferous cataclastic deformation zone (Friedman 2019), the Kirana Deformation Zone extends 1000 m westward to the Kirana Kirkland mine shaft. This drill program has increased our understanding of the geological controls and we look forward to applying this valuable knowledge to the summer field program and the subsequent drill campaign."

Table 1: Significant assay intercepts.

• Intervals have been presented in core length; diamond drill holes are planned to intersect mineralization as close to perpendicular to strike as possible or known; the true widths are estimated to be 75% - 85% of the downhole length when hole and dips of the mineralized horizons are considered. 
• Assays results as presented have not been capped. Intercepts occur within geological boundaries of major zones but have not been correlated to individual structures/horizons within these zones.
• Vertical depth is measured from the surface to the mid-point of the reported interval.

The drilling program was designed to validate the historic drill results, to gain an understanding of the mineralization controls as well as to test strike length and the depth of mineralization.

The Goodfish A Shear Zone is defined by an approximately 15 m wide, cross-cutting corridor of anomalous gold, localized high-grade Au domains, intense shearing, discrete fault damage zones and pervasive sericite + carbonate + silica alteration. Within the high-grade corridor defined by historic drilling, Warrior Gold Inc.'s drill program confirmed grade continuity intersecting 9.04 g/t Au over 5.37 m (GK19-008). Drilling at the A Zone successfully confirmed the continuation of the Goodfish deformation zone ~140 m west of historic intercepts where the drill-hole was terminated in the underground workings at the onset of gold mineralization. Visible gold was identified up-hole prior to intersecting the workings. The A Zone remains open in all directions and has been tested only by historic drilling to a vertical depth of 230 m. Warrior Gold Inc.'s 2019 program drilling did not exceed 100 m below surface.

The C Zone drilling determined the high-grade potential of the area by intersecting two 100 g/t gold intervals (GK19-03 and GF19-07). Drilling encountered multiple zones of intense deformation and sericite-carbonate alteration. Inferred structural complexity from airborne magnetics suggests the presence of a cross-cutting structure which requires additional testing. 

Drilling at Deloye achieved the program objectives by successfully testing the stratigraphy around the historic workings providing an understanding of the mineralization style and control of previously mined rock. First pass drilling intersected a significant deformation zone, inferred to be the auriferous cataclastic Kirana Deformation Zone (Friedman 2019), at the margin of a substantial quartz-feldspar porphyry. Lower grade gold was encountered along the margins of the intrusion within the sheared domain.  

For further reference Warrior Gold Inc. has uploaded geological cross and long sections to it's website at: www.warriorgoldinc.com.

"The high-grade gold intersections with visible gold at the A and C Zones are open in all directions and have been encountered at relatively shallow depths for the Abitibi Greenstone Belt. Future drilling will focus on these zones as well as the auriferous Kirana Deformation Zone." added Tom Neelands, Warrior Gold Inc.'s Chief Geologist.

Table 2. Drill Hole Collar data.

This table corrects the error in Warrior Gold Inc.'s April 18, 2019 news release and correctly indicates that five holes were drilled in Goodfish C Zone (not six) and eight holes (not seven) in Goodfish A Zone.

Analytical Procedures and QA/QC

Program design, management, and Quality Control/Quality Assurance are conducted by Warrior Gold Inc.'s exploration group under the supervision of Tom Neelands, P.Geo, the Company's Qualified Person. GeoVector Management Inc. of Ottawa, Ontario led by Tim Chadwick, MSc. supervised all aspects of the core logging which included: core orientation, photography, geology, structural measurements, magnetic susceptibility, core lost and the insertion of standards and blanks. Standards were obtained from Analytical Solutions Ltd. and the QA/QC results were reviewed by Naaznin Pastakia.

Drill core samples were cut by diamond saw at Canadian Exploration Services Ltd. (CXS) in Larder Lake, Ontario, 27 km east of Kirkland Lake. Field duplicate samples, blank rock samples and certified reference materials were inserted into the sample sequence at a frequency of one per 20 samples. A halved core sample is left in the core box with the other half core sampled and transported by Warrior Gold Inc.'s personnel in securely sealed bags to ALS Limited's sample preparation laboratory in Timmins, Ontario.  After sample preparation, samples are shipped to ALS's Vancouver facility for gold and ICP analysis. Gold assays greater than three g/t are re-assayed on a 30 g split by fire assay with a gravimetric finish. ALS is a certified and accredited laboratory service. ALS routinely inserts certified gold standards, blanks and pulp duplicates, and results of all QC samples are reported.

The technical information contained in this news release has been approved by Tom Neelands, P.Geo., the Chief Geologist for Warrior Gold Inc., who is a Qualified Person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Warrior Gold Inc.

Warrior Gold Inc. is a TSX Venture Exchange listed Company that owns the Goodfish-Kirana Property located five km from the Town of Kirkland Lake, Ontario. The Property is located in the historic Kirkland Lake Gold Ltd. Camp which is situated in the prolific Abitibi Greenstone Belt, recognized as one of the world's highest grade greenstone belts with over 200 million ounces of gold produced to date.

The Goodfish-Kirana Property is 11.5 km long by roughly three km wide (34 km²) and contains three major structural trends: the east-west trending Kirana Deformation Zone; the northeast trending Goodfish Deformation Zone; and the Victoria Creek Deformation Zone on the recently acquired Sutton claims on the northeast side of the property. The Property contains numerous historical gold showings, as well as 18 historical pits and shafts.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements: This press release contains forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. The forward-looking statements are based on certain key expectations and assumptions made by the Company. Although Warrior Gold Inc. believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Warrior Gold Inc. can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. In addition to other risks that may affect the forward-looking statements in this press release are those set out in the Company's Management Discussion and Analysis of the financial condition and results of operations for the year ended March 31, 2018 and the third quarter ended December 31, 2018, which are available at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof and Warrior Gold Inc. undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

This press release does not constitute an offer, invitation or recommendation to subscribe for or purchase any securities and neither this press release nor anything contained in it shall form the basis of any contract or commitment. In particular, this press release does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal.

SOURCE Warrior Gold Inc.