Kingfisher Metals Corp. Samples 10.84 G/T Gold over 6.90 m at Goldrange

Highlights

• Backpack drilling of 10.84 g/t Au over 6.9 m from surface.
• 33 rock samples with an average grade of 11.64 g/t Au and a median grade of 4.73 g/t Au.
• 8 rock samples over 10 g/t Au with highlights of 82.10 g/t Au, 63.90 g/t Au, 40.40 g/t Au, and 31.80 g/t Au.

"The results from our Cloud Drifter Trend continue to impress us. Our 2020 work has now returned 312 rock samples averaging 6.26 g/t Au. Additionally, it is very encouraging to see good grades over significant widths from surface in backpack drilling. We are very excited to put the first diamond drill holes into the Cloud Drifter Trend this summer." Stated CEO, Dustin Perry.

"In just a handful of field days our exploration team discovered two new gold showings and collected outstanding results from the Standard Zone. These time-efficient products are a testament to our hard working, results-driven team. This new mineralization style provides us with a key vector for analogous focused gold corridors within the Cloud Drifter Trend." Stated VP Exploration, Gayle Febbo.

The Goldrange Project covers a significant deformation zone with numerous precious metal veins across the project. Mineralization at Goldrange occurs as orogenic gold of similar age of the Bridge River camp, part of the Yalakom Gold Belt. Several areas of historical hand mining are located within the project and date back to the 1930s.

The 2020 exploration program was focused on defining drill targets at the Cloud Drifter Trend as well as evaluating the potential of several historically sampled mineralized zones on the project.

The Cloud Drifter Trend is a band of several historical zones of mineralization tied together by a highly anomalous Au-Ag-As-Sb-Cu-Bi-Te soil anomaly with grades up to 22.08 g/t Au (see March 31, 2021 release). Limited historical rock sampling was completed within the highest strength geochemical anomaly at the Cloud Drifter Zone and was the focus of 2020 work.

Previously released rock sampling at the Cloud Drifter Trend outlined 279 rock samples grading up to 128.90 g/t Au and averaging 5.62 g/t Au (see April 14, 2021 release).

The current release includes 33 rock samples (figure 1) and one backpack drill hole totalling 9.60m. Rock chip sampling returned grades from 0.03 g/t Au to 82.1 g/t Au with an average grade of 11.64 g/t Au (table 1). Rock grab samples are selective in nature and cannot be considered as representative of the underlying mineralization. Backpack drilling returned 10.84 g/t Au over 6.90m from surface at the Standard Zone.

Figure 1: Cloud Drifter Trend 2020 Rock Samples

Table 1: Standard, Essential, and Waterfall 2020 Rock Samples

The Standard, Essential, and Waterfall Zones (figure 2) occur along north trending fold corridors that project under talus cover towards the Cloud Drifter Zone. Mineralization is focused along gentle to moderately east-dipping veins and local sulfide-cement breccia along the fold hinge.

A more detailed presentation of the results included with this release can be found on the Company's website: Southern Cloud Drifter Trend 2020 Rock Sampling Results. Additionally, Dustin Perry and Gayle Febbo discuss the presentation in more detail: Goldrange: Southern Cloud Drifter Trend 2020 Rock Sampling Results - YouTube.

Figure 2: Standard, Essential, and Waterfall 2020 Rock Samples

Backpack drilling was completed in one hole (BP-ST-20-01) above the historical workings. Drilling was collared to test a prominent gossan up slope of the adit. The 9.6m vertical drill hole was oriented perpendicular to flat lying veins in the area and down the hinge of an anticline. Drilling encountered gold mineralization throughout the hole with a highlight intercept of 10.84 g/t Au over 6.90m from surface containing a sub-interval of 18.35 g/t Au over 2.90m from 1.09m. Detailed drill results can be found within the appendix of the linked technical presentation.

Quality Assurance and Quality Control

Rock samples were submitted to Acme Labs, a division of Bureau Veritas, located in Vancouver, British Columbia, an ISO9001:2008 accredited laboratory. The rocks samples were prepared using the PRP70-250 method by crushing 1.0kg of rock to =>70% passing through a 2mm sieve. Two hundred and fifty grams was then pulverized so that =>85% passes through a less than 75 μm sieve. A 0.25g split was then subjected to a 4 acid near total digest where the split is heated in a HNO₃, HClO₄ and HF solution to fuming, dried and then dissolved in HCL. The resulting solution was then analyzed for 45 major and trace elements using ICP-ES/MS (method code MA200). A 30g split was analyzed for gold using a lead collection fire assay fusion that was then digested and analyzed using AAS (method code FA430).

A 30g split of samples that assayed >10ppm gold and/or >200ppm Ag were analyzed using a lead collection fire assay fusion with a gravimetric finish (method code FA530). Samples that assayed for >200 ppm W, > 4000ppm Bi, Mo, Sb, >10000 ppm Cu, Pb or Zn were digested using a HNO₃, HClO₄ and HF solution to fuming, dried and then dissolved in HCL. The resulting solution was then analyzed using ICP-ES (method code MA370). Samples that assayed > 10000ppm As were digested using a modified aqua regia digestion (1:1:1 HNO₃:HCl:H₂O) and analyzed using ICP-ES (method code MA370).

Qualified Person

Dustin Perry, P.Geo., Kingfisher's CEO, is the Company's Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has prepared the technical information presented in this release.

About Kingfisher Metals Corp.

Kingfisher Metals Corp. (https://kingfishermetals.com/) is a Canadian based exploration company focused on underexplored district-scale projects in British Columbia. Kingfisher has three 100% owned district-scale projects that offer potential exposure to high-grade gold, copper, silver, and zinc. The Company currently has 68,945,801 shares outstanding.

For further information, please contact:

Dustin Perry, P.Geo.
CEO and Director
Phone: +1 236 358 0054
E-Mail: info@kingfishermetals.com

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

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: formulation of plans for drill testing; and the success related to any future exploration or development programs.

These forward-looking statements and information reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include; success of the Company's projects; prices for gold remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company's projects; capital, decommissioning and reclamation estimates; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour- related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.

The Company cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: fluctuations in gold prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the U.S. dollar); operational risks and hazards inherent with the business of mineral exploration; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices, including environmental, export and import laws and regulations; legal restrictions relating to mineral exploration; increased competition in the mining industry for equipment and qualified personnel; the availability of additional capital; title matters and the additional risks identified in our filings with Canadian securities regulators on SEDAR in Canada (available at www.sedar.com). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described, or intended. Investors are cautioned against undue reliance on forward-looking statements or information. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.

SOURCE: Kingfisher Metals Corp.