Scottie Resources Intercepts 36.3 G/t Gold Over 5.0 Metres At Emerging D Zone Target

VANCOUVER, Jan. 9, 2024 - Scottie Resources Corp. ("Scottie" or the "Company") (TSXV: SCOT) is pleased to report new assays on its Scottie Gold Mine Project in British Columbia's Golden Triangle, including new high-grade intercepts on its D Zone target. The D Zone is located 200 metres east of the Blueberry Contact, and 1.7 kilometres northeast of the 100% owned and royalty free, past-producing high-grade Scottie Gold Mine, 35 kilometres north of the town of Stewart, BC, along the Granduc Road.

• Drillhole SR23-286 intersected a high-grade D Zone vein, grading 36.3 grams per tonne (g/t) gold over 5.0 metres (m) including 91.5 g/t gold over 1.07 m (Table 1, Figures 1, 2, 3)
  • Intercept is located approximately 85 m from existing underground workings
  • Intercept is located 220 m east of the Blueberry Contact Zone
• Drillhole SR23-289 intersected a high-grade D Zone vein running 20.1 g/t gold over 1.00 m (Table 1, Figures 1, 2, 3)
  • Represents >50 metre step-out from the 2022 discovery intercepts of SR22-188 (31.8 g/t gold over 4.00 m) and SR22-182 (6.82 g/t gold over 6.85 m)
  • Mineralization remains open at depth
• Drillhole SR23-304 intersected a newly identified high-grade D Zone vein running 5.90 g/t gold over 3.00 m (Table 1, Figures 1, 2, 3)
  • New follow-up target for 2024

President and CEO, Brad Rourke commented: "These results from D Zone support our exploration concept of a major structurally controlled mineralizing corridor that is transitional from the Blueberry Contact Zone southwest towards the historic Scottie Gold Mine. Future exploration on the Scottie Project will target additional zones between these high-grade systems. The discovery and expansion of the high-grade D Zone is particularly interesting given its location relative to an existing underground tunnel used by the Scottie Gold Mine for access purposes."

Table 1: Selected results from new drill assays (uncut) from the C and D Zones.

Drilling of the D zone during 2023 was designed around expanding the extent of the newly discovered mineralized structure. Another goal of the drilling was to evaluate the relationship between the cross-cutting sulphide-rich structures at the Blueberry Contact Zone and the mineralization present at C and D Zones. While a gold-rich surface anomaly at D Zone has been know for many years, the 2022 drilling of the D Zone was the first time the gold mineralization was successfully intercepted at depth. The interpretation of the 2022 drilling results at D Zone suggested a possible orientation that was consistent with the regular array of veins present along the Blueberry Contact Zone (Figure 1). Drill results of holes 286, 287, and 289 from 2023 also support this concept, and provide clear targets to extend mineralization at depth and along strike (Figures 2, 3).

About the C and D Zones

The C and D Zones are located approximately halfway between the Blueberry Vein and the past-producing Scottie Gold Mine. Historic work on the zones included geological mapping, rock and chip sampling and limited drilling. Mineralization is vein controlled and is comparable to the vein types observed at both the Scottie Gold Mine as well as the Blueberry Vein. Historic drill intercepts on the C Zone generated gold-rich intervals up to 14.2 g/t gold over 5 m. Drilling by Scottie Resources in 2021 extended the strike length of the mineralization further to the west with multiple high-grade intercepts, including 11.1 g/t gold over 1.0 m and 8.65 g/t gold over 1.0 m. Historic drilling on the D Zone failed to produce results comparable to the numerous high-grade surficial samples associated with the zone (up to 53 g/t gold), likely due to poor targeting of the primary mineralized structure which is obscured by steep terrain and heavy vegetation. However, reinterpretation of existing data and exploration drilling by Scottie in 2022 revealed high-grade vein-controlled mineralization at D Zone, returning grades of 31.8 g/t Au over 4.00 m and 6.82 g/t Au over 6.85 m. The surficial expressions of both the C and D Zones overlie an access tunnel which connects the A portal to the Scottie Gold mine, that was put into reduce avalanche risk during the mine's operation (Figure 1). Drilled in 2022, the intersection between the C Zone structure and the Blueberry Contact Zone returned an interval of 9.12 g/t gold over 16.15 m.

Dr. Thomas Mumford, P.Geo., a qualified person under National Instrument 43-101, has reviewed the technical information contained in this news release on behalf of the Company.

Quality Assurance and Control

Results from samples taken during the 2023 field season were analyzed at SGS Minerals in Burnaby, BC. The sampling program was undertaken under the direction of Dr. Thomas Mumford. A secure chain of custody is maintained in transporting and storing of all samples. Gold was assayed using a fire assay with atomic absorption spectrometry and gravimetric finish when required (+9 g/t gold). Analysis by four acid digestion with multi-element ICP-AES analysis was conducted on all samples with silver and base metal over-limits being re-analyzed by emission spectrometry.

Scottie owns a 100% interest in the Scottie Gold Mine Property which includes the Blueberry Contact Zone and the high-grade, past-producing Scottie Gold Mine. Scottie also owns 100% interest in the Georgia Project which contains the high-grade past-producing Georgia River Mine, as well as the Cambria Project properties and the Sulu and Tide North properties. Altogether Scottie Resources holds approximately 60,000 hectares of mineral claims in the Stewart Mining Camp in the Golden Triangle.

The Company's focus is on expanding the known mineralization around the past-producing mines while advancing near mine high-grade gold targets, with the purpose of delivering a potential resource.

All of the Company's properties are located in the area known as the Golden Triangle of British Columbia which is among the world's most prolific mineralized districts.

Forward Looking Statements
This news release may contain forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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

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SOURCE Scottie Resources Corp.