PJX Resources - Sullivan Mining District Possible Second Gold Bearing Intrusion Identified by Geophysics on Zinger Property & Gold Shear Property Update

TORONTO, ON / ACCESSWIRE / March 7, 2022 / PJX Resources Inc.'s ("PJX") is pleased to announce that Airborne geophysics has expanded the potential of intrusive related gold mineralization on the Zinger Property. The GAR intrusion with grab samples of quartz veins ranging from anomalous to 28.84 g/t gold may be on the edge of a much larger intrusive buried under overburden according to airborne magnetic geophysics. Together, the large targets represent over 3 km of potential gold bearing intrusions on PJX's Zinger Property in the Vulcan Gold Belt of the Sullivan Mining District near Cranbrook, southeastern British Columbia, Canada.

Highlights

• As announced in August 2021, the GAR granitic intrusion has multiple phases of quartz veining with grab samples of quartz veins ranging from anomalous to 28,841 ppb (28.84 g/t) gold, and a 1.6 km long untested gold in soil anomaly (Figures 1 & 2 below).
• Gold occurs as visible gold or with minor sulphide in multiple phases of veining, including sheeted veins (Photos A, B & C below).
• Bismuth and molybdenum soil anomalies also occur in the Gar intrusive and host metasediments.
• Three dimensional (3D) inversion of airborne magnetic data by Expert Geophysics has defined a magnetic low core to the GAR intrusive rimmed by more magnetic material (Figure 3 below).
• A larger magnetic low rimmed by more magnetic material has been identified adjacent to the large GAR intrusive target and may represent a second larger gold mineralized intrusion.
• The second larger magnetic target has an elongated shape trending north to northeast which is similar in orientation to gold bearing sheeted veins in the GAR intrusive.
• The GAR intrusive area with magnetic low has limited rock exposure and is predominantly covered with overburden.
• The possible second gold bearing intrusive defined by the larger magnetic low is buried under overburden and has not been explored with a soil survey.
• The large GAR Intrusive with magnetic low area and the larger second magnetic low target area have not been drilled.

"The 1600 m long gold in soil anomaly crossing the Gar intrusive and adjacent sediments makes this a large target to explore with potential to discover a deposit similar in type to the Fort Knox gold deposit in Alaska" states Mr. John Keating, President and CEO of PJX Resources. "The deposit potential of the area is further enhanced by the possibility of a second adjacent gold bearing intrusive that may be larger than the GAR target. Additional compilation and interpretation of the 3D Inversion MT-Mag airborne survey data is on-going with more results to be announced."

Fort Knox has produced 7.5 million ounces of gold since 1969. The Fort Knox granite host rock has a surface exposure of approximately 1100 by 600 meters "m"). This is comparable to PJX's Gar intrusive target with an interpreted near surface area, from mapping, of approximately 1200 by 500 m.

Figure 1 - Gold in rock grab samples (1,000ppb = 1g/t)

Figure 2 - 1600m long gold in soil anomaly

Photo A - Sheeted vein in Gar Granitic Intrusive, 1365 ppb (1.36 g/t) gold

Photo B -Visible Gold in quartz vein in Gar Intrusive (magnified photo)

Photo C-Visible Gold in Pyrite in quartz vein in Gar Intrusive (magnified photo)

Figure 3 - Airborne Magnetic Survey identifies a possible gold bearing intrusion larger in size than the GAR intrusion that has gold mineralization in quartz veins. The GAR intrusive has limited rock exposure and the larger magnetic low target has less rock exposure than the GAR.

PJX has consolidated the mineral rights to the largest land package in the Sullivan Mining District and has identified over 20 gold and/or copper, lead, zinc, silver, cobalt target areas to date. The Gar intrusive is just one of these target areas, another is the high-grade David Gold Zone on PJX's Gold Shear Property. Go to https://pjxresources.com/ for more information.

Gold Shear Property Drilling Update

The David Gold Zone on the Gold Shear Property occurs within a 4 to 5 m wide shear zone with a central core of high-grade mineralization with the highest grade being 0.8 m of 196.69 g/t gold in historical hole 91-43 (See photo below). PJX drilled on strike and along the interpreted plunge of the David Gold Zone in October-November, 2021. PJX has been informed by Bureau Veritas Laboratory that a cyber attack on their company in November-December 2021 has resulted in a delay in lab results. The next date for completion of analysis of all the core may be possibly 4 weeks or more away. Once received, PJX will be in a position to analyse the data and then communicate the results along with proposed plans for the David Gold Zone and other targets on PJX's Gold Shear and adjacent Eddy Properties.

David Gold Zone - High-grade gold mineralization in historical 1991 drill core. Drill hole 91-43 intersected 0.8m (67.20m-68.00m) of 196.69g/t gold, 17.9 g/t silver, 2.46% lead, 1.73% zinc, and 0.25% copper.

Qualified Persons

The foregoing geological disclosure has been reviewed and approved by John Keating P.Geo. (qualified persons for the purpose of National Instrument 43-101 Standards of Disclosure for Mineral Projects). Mr. Keating is the President, Chief Executive Officer and a Director of PJX.

About PJX Resources Inc.

PJX is a mineral exploration company focused on building shareholder value and community opportunity through the exploration and development of mineral resources with a focus on gold, silver and base metals (zinc, lead, copper). PJX's primary properties are located in the historical Sullivan Mine District and Vulcan Gold Belt near Cranbrook and Kimberley, British Columbia.

Please refer to our web site http://www.pjxresources.com for additional information.

FOR ADDITIONAL INFORMATION PLEASE CONTACT:

Linda Brennan, Chief Financial Officer
(416) 799-9205
info@pjxresources.com

Forward-Looking Information

This News Release contains forward-looking statements. Forward looking statements are statements which relate to future events. Forward-looking statements include, but are not limited to, statements with respect to exploration results, the success of exploration activities, mine development prospects, completion of economic assessments, and future gold production. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", believes", "estimates", "predicts", "potential", or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking-statements.

Although PJX has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

This press release is not intended for disclosure in the United States of America.

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.

SOURCE: PJX Resources Inc.