Goldcliff Completes 100% Purchase of Ainsworth Silver Land Position

VANCOUVER, British Columbia, March 01, 2023 (GLOBE NEWSWIRE) -- George Sanders, President of Goldcliff Resource Corporation (“Goldcliff” or the “Company”) (GCN: TSX.V, GCFFF: OTCBB PINKS) reports that the Company has made the final payment to purchase an additional 2,915 hectares of mineral tenures in the historic Ainsworth silver camp near Kaslo, B.C. Details of the purchase agreement were disclosed in a News Release dated March 1, 2021. This purchase includes 295 hectares of Crown Granted Mineral Claims, several of which underlie or are adjacent to target areas in the vicinity of the No. 1 mine. The No. 1 mine was the largest and highest grade producer in the Ainsworth silver camp, with a recovered grade of 49.6 ounces per ton silver. Goldcliff now owns 100% of approximately 4,455 hectares, making it the largest land position in this historic silver district.

The additional claims host several old prospect pits and past producing small mines. The Ainsworth district hosted more than 50 properties from which silver-lead-zinc was produced from 1889 to 1964. Together with the nearby Sandon area in the “Silvery Slocan”, the region produced 92 million ounces of silver.

Two earlier reconnaissance prospecting and geochemical sampling programmes were conducted in 2020 and 2021 with a focus on the southern portion of the claim block around the No. 1, Dellie and Silver Hoard mines. In 2020, at the Silver Hoard, a black, manganiferous breccia outcrop sample yielded 359 g/t Ag. Upslope and west of the No.1 mine adit, a partially buried sample of rusty angular float in a recently logged area returned 335 g/t Ag and 4.73% Zn. Two lithic drainage sediment (LDS) samples taken below the No. 1 mine adit and below the mine dump yielded 825 g/t Ag and 498 g/t Ag respectively, with both also displaying highly anomalous base metal values. In 2021, rock values as high as 1,381 g/t silver and soil values as high as 218 ppm silver were obtained in samples across old historic trenches upslope from the No. 1 Mine adit. Sampling results from these two programmes confirm the higher grade setting on this portion of the property.

Further exploration activity will be designed around the Direct Shipping exploitation model. Ainsworth is approximately 120 kilometres from the Teck-Cominco smelter in Trail, B.C.

Goldcliff is a multi asset exploration and development company focused on projects where a bootstrap development strategy may be applicable. Current active projects include the Kettle Valley gold/silver, Panorama Ridge gold and Ainsworth silver properties in B.C. and the Nevada Rand gold/silver and Aurora West gold properties in Nevada.

Ed Rockel, P. Geo, qualified person as defined by National Instrument 43-101 supervised the preparation and verification of the technical information contained in this release.

For further information, please contact George W. Sanders, President, at 250-764-8879, toll free at 1-866-769-4802 or email at info@directroyalty.com.

GOLDCLIFF RESOURCE CORPORATION

Per: “George W. Sanders”

George W. Sanders, President

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