Prosper Gold Adds Second Drill at the Golden Corridor and Increases Drilling to 15,000 metres - Red Lake, ON

 

VANCOUVER, British Columbia, June 22, 2021 (GLOBE NEWSWIRE) -- Prosper Gold Corp. ("Prosper Gold" or the "Company") (TSXV:PGX) is pleased to announce that it has added a second drill and increased the 2021 Phase 1 diamond drilling program to 15,000 metres at the Golden Sidewalk Project (the “Project”). Drilling will continue to focus on the newly identified Golden Corridor target area. (for details of the Golden Corridor see the Company’s Dec. 1, 2020 news release).

“Prosper has a strong cash position and is fully funded to increase the Phase 1 drill program,” commented Peter Bernier, CEO. “We are excited to have Laframboise Drilling Inc. on site with 2 rigs. They are the most capable drillers I have come across in my 40 years in the business.”

Till Sampling Update

154 till samples have been collected in 2021 along 11 kilometres of the regional unconformity – a crustal-scale fault that has been the focus of the Company’s exploration strategy to date. Infill till sampling following 200 metre by 200 metre grid spacing to the east and west of the Golden Corridor is ongoing. Samples have been shipped to Overburden Drilling Management Ltd. in Nepean, Ontario for processing.

About the Golden Sidewalk

The Golden Sidewalk is a district-scale gold exploration project covering over 160 square kilometres of contiguous mineral claims and mining leases (see the Company's Aug. 10, Sept. 8, and Sept. 15, 2020 news releases for details) in the western Birch-Uchi Greenstone Belt, approximately 60 km east of Red Lake, Ontario. The vehicle-accessible project straddles 12 kilometres of the Balmer Assemblage – Narrow Lake Assemblage unconformity, a regional-scale feature that has been the Red Lake exploration guide, but which has seen limited exploration in the project area. The recently identified “Golden Corridor” lies immediately north of the unconformity in the western portion of the property and is characterized as a highly prospective, greater than 5 kilometre trend of coincident favourable magnetic and resistivity lineaments supported by highly anomalous gold-in-till samples covering 3.3 by 0.5 kilometres.

For a detailed overview of Prosper Gold visit www.ProsperGoldCorp.com

Qualified Person

The scientific and technical information in this news release has been reviewed by Rory Ritchie, P.Geo., a Qualified Person under National Instrument 43-101.

ON BEHALF OF THE BOARD OF DIRECTORS

Per: “Peter Bernier”
Peter Bernier
President & CEO

For further information, please contact:

Peter Bernier
President & CEO
Prosper Gold Corp.
Cell: (250) 316-6644
Email: Pete@ProsperGoldCorp.com

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation, statements about the planned exploration of the Golden Sidewalk project, are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume and the additional risks identified the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

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