Mistango Announces beginning of its 5,000 Metre Phase 2 Drill Program at the Kirkland West Gold Project

TORONTO, Nov. 9, 2021 - Mistango River Resources Inc. ("Mistango" or the "Company") (CSE: MIS) is pleased to announce that the 5,000 metre Phase 2 drilling program at its 100%-owned Kirkland West Gold Project, adjacent to Kirkland Lake Gold's Macassa Mine near Kirkland Lake, Ontario, is now under way. Drilling began on October 17 and approximately 1,600 metres have been completed thus far in two drill holes.

The Phase 2 program in the Baldwin Zone is designed to test a new exploration target area that was recently identified as the result of integrated 3-D geological and geophysical modeling and data-driven machine learning applied to exploration targeting. The modeling exercise resulted in the identification of an interpreted extension of the Main Break fault structure that is associated with high-grade gold mineralization in the Kirkland Lake camp, about 6,000 metres to the Northeast of the newly identified target zone (Figure 1). A total of 6 diamond drill holes have been planned and were designed to test a zone of apparent structural complexity where a significant jog would be present along the Main Break as well an East-Northeast trending second-order fault structure that would be linked to the principal Main Break structure. The planned drill holes are shown in blue in Figure 1. The structurally complex zone was identified as highly prospective by the machine learning exercise (Figure 1).

Approximately 200 samples have thus far been delivered to the assay lab and all results are pending. Mistango is looking forward to reporting results from the drilling program in the coming weeks.

Further Technical Detail
Additional information on the Kirkland West Gold Project can be found here. Phase 1 exploration drilling was focused on the Baldwin Zone where 7,014 metres, representing 18 drill holes, had been completed prior drilling being paused on April 30, 2021 due to difficult ground conditions in the locally rugged terrain arising from an early and rapid spring thaw (News Release dated May 4, 2021).

The structural and geophysical modeling and the exploration targeting that used data-driven machine learning were performed for Mistango by Mira Geoscience, of Montreal. Figure 1 shows a horizontal slice through the 3-D prospectivity model that resulted from the machine learning exercise, at a vertical depth of around 440 metres. Traces of the principal modeled structures in the southern part of the Baldwin Zone are also shown in Figure 1 as black traces where the structures would intersect the depth slice. The machine learning model points to a highly prospective zone (illustrated by hot colours) that is associated with the modeled Main Break structure and with an East-Northeast trending second order structure that is linked to the Main Break in the "hot zone". Structurally complex zones where multiple fault structures are physically and/or kinematically linked are considered to be highly prospective for orogenic gold deposits due to the localization of intense rock deformation that is expected in such structural contexts. The intense deformation result in a high degree of permeability hence the localization of a strong flux of mineralizing fluids. Mistango believes that the newly identified target zone could represent a zone of gold mineralization that might be similar to high-grade mineralized zones of the Kirkland Lake camp, to which it is adjacent.

Click Here for Figure 1. Horizontal slice through the prospectivity model in the southern Baldwin Zone, at about 440 metres depth.

Notes: The depth slice shown is 110 metres below sea level (around 440 metres vertical depth). Hot colours indicate zones of higher prospectivity as identified by the data-driven machine learning exercise that calculated the average values of 25 runs using 20 metre resolution. The principal modeled fault structures are shown as black traces. Planned drill hole traces are projected to the horizontal and are shown in blue. The limits of the Kirkland West properties in the Baldwin Zone are shown with a grey trace.

About the Kirkland West Project
The Kirkland West Project is adjacent to Kirkland Lake Gold's (KL:TSX) Macassa Mine and includes two main zones, the Baldwin Zone and the Eby Zone that are distinguished by different geological settings. The Baldwin Zone includes land holdings in the western Teck, Grenfell and Eby townships and share a similar geological setting with the Kirkland Lake mining camp. The Eby Zone is 3 km to the southwest within Eby township and features a geological environment that is somewhat distinct from the Baldwin Zone and that is considered to be highly prospective.

QP Statement
The technical information contained in this news release has been reviewed and approved by Dr. Keith Benn, P.Geo., Vice President Exploration for Mistango, who is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."

About Mistango River Resources Inc.
Mistango is a Canadian-based exploration and development company focused on its Kirkland Lake West and Omega projects in the Kirkland Lake District of Ontario's Abitibi Greenstone Belt. The Company is listed on the Canadian Securities Exchange (CSE) under the symbol MIS.

Neither Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Mistango assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Mistango. Additional information identifying risks and uncertainties is contained in filings by Mistango with Canadian securities regulators, which filings are available under Mistango profile at www.sedar.com.

SOURCE Mistango River Resources Inc.