Stallion Gold Reports Geochemical Survey Results and Adds Claims

VANCOUVER, Dec. 01, 2021 - Stallion Gold Corp. (TSX-V: STUD) (Frankfurt: HM4) ("Stallion" or the "Company") is pleased to report the results and mapping of the geochemical survey completed at their Horse Heaven Project (the "Project") in Valley County, Idaho. The survey results verify the occurrence of structurally controlled gold mineralization along the Golden Gate Fault Zone (the "GGFZ") at a length of over 2.8km. Further, the Company also announces the staking of 4 additional mining claims to cover anomalies in survey area.

"Our team was pleased to see the results from our initial geochemical survey along the Gold Gate Fault Zone, not only for the strong assay values, but also the continuity and continuation of the readings along the surveyed area of the fault zone. This encourages and validates our further exploration of the GGFZ," said Drew Zimmerman, CEO.

Soil Geochemical Survey

Stallion has received the assay results from the recently completed geochemical soil survey at the Project, along the GGFZ. The purpose of the survey was to validate gold mineralization along the structurally controlled GGFZ epithermal system.

The survey was comprised 789 soil samples, collected along east-west lines spaced 122m apart with individual sample spacing along the lines at 30.5m. Approximately 0.5 to 1 kg of "B" horizon soil was collected from a depth between 20-30 cm. The GGFZ was tested along a 2.6 km length, across widths of 900 m to 1500 m. The Company received gold, silver and multi-element pathfinder element assays. Gold assay results of more than 0.025 parts per million (ppm) occurred in 342 of the samples (43%). Of those samples 140 were more than 0.10 ppm Au (18%), 54 were more than 0.25 ppm Au (7%), 18 were more than 0.50 ppm Au (7%) and 6 were in excess of 1.0 ppm Au (0.75%). The highest assay was 1.99 ppm Au. (see figure 1)

"We are very pleased to see gold in soils distributed along the length of the GGFZ demonstrating the structural control of the mineralization," stated Bill Breen, President and VP Exploration. "The occurrence of the gold anomalies along the southern and northern slopes along the GGFZ could be an indication of down dip control of the mineralization, possibly related to the depth of gold deposition within the shear zone."

The finding of anomalous silver along the length of the GGFZ reinforces the observations found in gold. (see figure 2) Results from pathfinder elements of arsenic (As), tungsten (W), and antimony (Sb) elements in the soils are useful in planning and vectoring into future mineralized areas at Horse Heaven. Arsenic has an excellent correlation with presence of gold mineralization along the GGFZ. This correlation will be very useful during future geochemical surveys in other areas at Horse Heaven.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8dd89f37-b1f5-40d0-8680-51ead0eec705

Antimony (Sb) in soils results, forms an anomalous discrete linear trend along the entire length of the east side of the soil grid. Stallion believes the reason for this to be that the antimony mineralization is a possible vein, focused along the eastern side of the GGFZ and at depth it is associated to the antimony veins found on Antimony Ridge which was mined during WWII. (see figure 3)

Tungsten (W) is anomalous at the southern end of the soil grid. This is suggesting that tungsten used the same conduits as the gold mineralization at formation. The tungsten anomaly along the summit of Golden Gate Hill aligns with the gold reading and is the site of the historic Golden Gate Tungsten Mine. The area was last mined in 1980. (see figure 4)

Rock Geochemical Survey

A total of 45 rock samples were taken along the GGFZ, including grab, chip and float samples. Rock sampling verifies the mineralization occurring in the soils is related to outcrop and subcrop found along the shear zone. The gold assay results returned 33 samples out of the 45 greater than 0.10 ppm Au (73%), including 26 samples out of 45 equal or greater than 0.25 ppm Au (57%), including 17 out of 45 greater than 0.50 ppm Au (38%), and 8 out of 45 greater than 1.0 ppm Au (18%) with the highest gold value reported was 4.30 ppm Au. (see figure 5)

There were 2 areas of outcrop along southern slope within the GGFZ that were channel sampled. The first most southern area has 10 channel samples over 28 meters and returned an average assay of 0.778 ppm Au. The second area consisted of 5 samples over 13 meters with an average assay of 0.277 ppm Au. At the northern end of GGFZ there are three small prospect pits over a distance 15m and 54m up the ridge above the pits an outcrop. 8 samples were taken in the prospect pits and 1 sample taken off the outcrop with assay results averaging 0.921 ppm Au. The distance between the channel samples on the southern end of the GGFZ to the rock samples at the north end is over 2.8 km.

Silver assay values in the rock samples showed that 28 of the 45 samples (62%) are 0.5 ppm Ag or greater, including 15 of 45 samples (33%) have 1 ppm Ag or greater and 5 of 45 samples (11%) have a silver value greater than 10 ppm. The highest silver assay is 132 ppm. Higher silver values are associated with anomalous gold values. (see figure 6)

Stream Sediment Survey

A stream sediment survey program was completed on the drainages flowing in and around the GGFZ. A total of 28 stream samples were taken in the active stream channel. 10 of the 28 (36%) samples had a gold assay of greater than 0.10 ppm Au. The highest gold assay was 0.592 ppm Au. Stream sediment sample program on other areas on the Project will be very instrumental in finding further mineralization.

Conclusions

Soil, rock and stream sediment sampling results verify the occurrence of structurally controlled gold mineralization along the GGFZ at a length of over 2.8km. The results have also highlighted other areas to be further explored. The use of geophysical techniques will be used to further define drill targets along the GGFZ. Planning has already begun to implement a geophysical survey over the GGFZ. Additional stream sediment, rock sampling and soil sampling will be planned and executed in 2022 over the other prospective target areas of the Project as the Company looks for further mineralization.

Claim Staking

Stallion located 4 additional claims at the Project, and now hold a total of 699 mining claims. The new claims added 172.9 hectares of mineral rights for a total of 5,817 hectares. The new claims were added to cover anomalies discovered in the 2021 soil survey.

QA/QC

The samples were placed into numbered sample bags, registered, sealed in rice bags and stored in company premises prior to being sent for analysis. Sample preparation was done by ALS Twin Falls, Idaho and assaying were done by ALS Reno, NV lab. Samples were crushed and pulverised, gold and a 35 multi-element suit was analyzed by aqua regia with an ICP-MS finish.

Rock results presented in this news release and accompanying figures are from 0.5 to 1 kg selected grab of outcrop, sub-crop and float samples. The grab samples of float material reported in this announcement are believed to originate from the underlying bedrock. The Company cautions that grab samples are selective by nature and may not be representative of typical mineralization on the property. Sample preparation was done ALS Twin Falls, Idaho and assaying were done by ALS Reno, Nevada Lab. Samples were crushed and pulverized, and gold was analyzed by 30 gram-charge Fire Assay and AAS finish. A 35 multielement analysis including silver was done by aqua regia and ICP-MS determination.

A Chain-of-Custody was established between the Company and receiving laboratory to ensure the integrity of the samples during transportation from site to the lab.

Stallion inserted 4 duplicate samples, 3 certified reference standard samples, and 4 blank samples every 100 soil samples, to assess repeatability and assaying precision of the laboratory. In addition, the laboratory applied its own internal Quality Control procedure that includes sample duplicates, blanks & geochemical standards. They report these results with the certified Assay Report. Laboratory procedures and QAQC protocols adopted are considered appropriate. The CRMs and internal QC-QA results fall within acceptable levels of accuracy & precision and are considered to lack any bias.

Horse Heaven Gold Project

The Project is comprised of 699 mining claims covering 5,817 hectares in Valley County, Idaho making it one of the largest single parcel exploration projects in the state. The Project shares its eastern boundary with Perpetua Resources' Stibnite Gold Project, one of the largest independent gold reserves, not only in the state, but in the country with over 6 million ounces gold (measured &indicated). The state has seen increased mining and exploration activity as companies alongside Stallion desire projects in stable geopolitical locations with clear permitting procedures.

Qualified Person

William Breen (Registered Member 04203997 of SME) is the Qualified Person as defined by NI 43-101, Standards of Disclosure for Mineral Projects, who has reviewed and approved the scientific and technical content of this press release. Mr. Breen is an officer of the Company.

About Stallion Gold

Stallion Gold is a mineral exploration company focused on the exploration of precious metals and critical minerals at its Horse Heaven Gold Property in Idaho. Stallion Gold is using modern exploration techniques to explore historical and new mineral targets on its expansive land package. A strong management team brings expertise in both the capital markets and the technical talent for acquiring early-stage property with highly prospective targets. The shares of Stallion Gold trade on the TSX-V under the symbol: STUD. Stalliongold.com

On Behalf of the Board

"Drew Zimmerman"

Drew Zimmerman
Chief Executive Officer
(778) 686-0973

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.

Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company.