Rockhaven Substantially Expands Mineralizing Footprint at the Klaza Gold-Silver Project, Yukon

Trenching at Rusk Zone exposes 8.7 m grading 3.9 g/t AuEQ¹ (2.1 g/t gold and 125 g/t silver)

VANCOUVER, BC / ACCESSWIRE / February 24, 2022 / Rockhaven Resources Ltd. (TSXV:RK) ("Rockhaven") is pleased to announce results from 2021 reconnaissance exploration completed at its 100% owned and road accessible Klaza gold-silver property, located in the Dawson Range Gold Belt of southern Yukon. The reconnaissance exploration program was designed to evaluate the potential for extensions to known mineralized zones and to discover new ones.

This program ran contemporaneously with a major diamond drill program, which included 14,256 m of drilling in 72 holes, that had the objective of upgrading and expanding the known mineral resources at Klaza. Results for 39 of these holes have been released, while those from the remaining 33 holes completed in 2021 are pending and will be released once assays are checked and data is compiled.

The Klaza Property covers a 286 km² area and hosts 18 documented mineralized occurrences that lie outside of the main Klaza Deposit, plus numerous other soil geochemical and geophysical targets awaiting evaluation. During 2021, mechanized trenching programs were carried out at three of these mineralized occurrences: Rusk, Western BRX Extension and Rico. Maps showing target and soil sample locations, including soil geochemical results for gold and arsenic (a pathfinder for gold), can be viewed on the Rockhaven website at www.rockhavenresources.com.

Highlight results from the 2021 reconnaissance trenching are summarized below:

Rusk Zone Trench (3 km Southeast of the Klaza Deposit)

• 2.1 g/t gold and 125 g/t silver (3.9 g/t AuEQ¹) over 8.7 m; and,
• 1.0 g/t gold, 283 g/t silver and 5.7% lead (5.0 g/t AuEQ¹) over 2.0 m.

Western BRX Extension Zone Trench (800 m West of the Klaza Deposit)

• 351 g/t silver, 9.9% lead and 2.0% zinc over 1.5 m.

Rico Zone Trench (2.3 km West of the Klaza Deposit)

• 6.9 g/t gold over 1.0 m.

"Results from the 2021 program, combined with earlier results, demonstrate a camp-scale mineralizing system spanning 10 km east to west and 8 km north to south, which is anchored by the plus million-ounce² Klaza gold deposit," stated Matt Turner, Rockhaven's CEO. "We look forward to further assessing these new areas for mineral resource potential as the Klaza Deposit continues to be advanced towards pre-feasibility."

Rusk Zone

The Rusk Zone, located 3 km southeast of the Klaza Deposit, was first identified through soil geochemical sampling in 2016. A maiden diamond drill program in 2020 confirmed the presence of a new vein complex, with numerous high-grade gold, silver, lead and zinc veins discovered in a fence of holes drilled across the 2.6 km² multi-element soil geochemical anomaly. Before the 2021 drill program commenced at this target, 450 m of mechanized trenching was completed. This work uncovered the main mineralized structure identified by the 2020 drilling, with chip samples averaging 2.1 g/t gold, 125 g/t silver, 1.3% lead and 1.3% zinc over 8.7 m. The trenching confirmed the orientation of the vein zones and other structural elements of the target area, thus optimizing the placement of ten drill holes for which results are pending. It also confirmed that the mineralization starts just below the surface. Highlights results from the trench are as follows:

Klaza Project - Rusk Zone - 2021 Highlight Trench Results

⁺ Represents the excavator trench sample length. True widths are estimated to be 70-95% of the interval as the majority of vein exposures were steeply dipping and thus near perpendicular to trench sample profile.

Contour soil sampling lines were completed along trend to the east and across the Nansen Creek valley, which hosts the richest placer gold workings in the Mount Nansen District. The soil geochemical results outlined multiple areas with strongly elevated values of gold, silver, arsenic, lead and zinc, featuring peak values of 800 ppb, 8.5 ppm, 171 ppm, 372 ppm and 396 ppm, respectively. These results suggest the potential for an easterly extension of the Rusk Zone structures and will be further investigated in 2022.

Western BRX Extension Zone

The Western BRX Extension Zone is located 800 m to the northwest of the Western BRX Zone, the highest-grade vein discovered to date on the property, which is bounded to the west by a fault with unknown displacement. In order to search for an off-set extension of this highly prospective structure, a fence of drill holes was completed in summer 2021. One of these holes (KL-21-492) discovered a silver-rich vein that returned 1,160 g/t silver, 8.4% lead and 5.2% zinc over 0.54 m (see press release dated December 15, 2021). Following this discovery, a single trench successfully exposed the surface projection of this vein, returning 351 g/t silver, 9.87% lead and 1.97% zinc across 1.5 m.

This discovery is considered to be highly significant because the 800 m between it and the Western BRX Zone are untested, and it may be possible to link these two mineralized zones through additional exploration. The silver/base metal mineralization seen in this more distal setting may transition toward the southeast into a more gold-rich mineral assemblage typical of the Western BRX Zone.

Rico Zone

The Rico Zone is located 2.3 km along trend, to the northwest of the Klaza Deposit, and is marked by strong magnetic and VLF-EM geophysical anomalies. Prior to this year, Rockhaven had never conducted mechanized exploration at this target. In late 2021, a single excavator trench was completed within the geophysical anomalous area. Several strongly weathered mineralized structures were identified in the trench, all of which correlated with magnetic lows - a geophysical signature characteristic of the mineralized zones comprising the Klaza Deposit. The best vein exposed returned 6.9 g/t gold over 1.0 m. Significant results are as follows:

Klaza Project - Rico Zone - 2021 Highlight Trench Results

⁺ Represents the excavator trench sample length. True widths are estimated to be 70-95% of the interval as the majority of vein exposures were steeply dipping and thus near perpendicular to trench sample profile.

The Rico Zone is the most westerly area of mineralization discovered to date on the Klaza Property. Its metal signature is not consistent with the trends seen elsewhere on the property and it is possible that this discovery may be part of a different mineralizing event.

Dade and Bear Zones

The Dade Zone hosts epithermal mineralization and lies approximately 8.5 km east of the Klaza Deposit. Intermittent exploration work has been completed at the zone with encouraging results including rock samples grading to a maximum of 73 g/t gold, a trench exposure averaging 12.5 g/t gold over 6.0 m and a reverse circulation drill intercept grading 5.3 g/t gold across 1.5 m.

The Bear Zone is located 2 km southeast of the Dade Zone. Only cursory work was completed by previous operators, with the best float sample yielding 8.7 g/t gold and 58 g/t silver. In 2020, soil sampling was completed by Rockhaven that verified the target's potential by identifying an area of anomalous gold and arsenic with peak values of 1,140 ppb and 820 ppm, respectively.

There are no bedrock exposures between the Dade and Bear zones, but geophysical data, regional geological mapping and analysis of drill logs from the Dade Zone suggest that it and the Bear Zone lie within the same structural corridor. Soil geochemical sampling was done in 2021 to test this idea. Although deep overburden and permafrost hindered sampling, samples taken between the two zones returned anomalous results for gold and arsenic with peak values of 172 ppb and 886 ppm respectively.

Sked Zone

The Sked Zone is the most southerly advanced target on the property, located 8 km south of the Klaza Deposit. It was discovered in 1987 and was intermittently drilled and trenched throughout the 1980s and 1990s. This work indicated that the Sked Zone is an upper-level epithermal gold target. Highlight trench results were 2.3 g/t gold over 21.5 m and highlight drill results were 2.4 g/t gold over 7.5 m. Further trenching was attempted following receipt of these highly encouraging results, with the goal of extending the strike length of the veins; however, extensive permafrost hindered the program and none of these trenches reached bedrock. A single rock sample taken from the material excavated from these trenches returned 6.7 g/t gold, suggesting that the mineralization may continue along strike. Rockhaven intends to revisit these trenches and excavate them to bedrock.

Collectively, the data from the out-lying zones on the Klaza Property demonstrate a camp-scale system with excellent potential for new discoveries, which could expand the mineral resources beyond the known Klaza Deposit.

QA/QC

All analyses for trench samples from the 2021 program were performed by ALS Minerals with sample preparation in Whitehorse and assays and geochemical analyses in North Vancouver. All samples were routinely analyzed for gold by fire assay followed by atomic absorption (Au-AA24). Trench samples were analyzed for 48 other elements by inductively coupled plasma-mass spectrometry (ME-MS61). Samples that exceeded the detection limits of the routine methods were assayed for silver, copper, lead and zinc by inductively coupled plasma-atomic emission spectroscopy (Ag/Cu/Pb/Zn - OG62) and gold by gravimetric analysis (Au-GRA22). Soil samples were routinely analyzed for 36 other elements by inductively coupled plasma-atomic emission spectrometry (ME-ICP41). Rigorous procedures were in place regarding sample collection, chain of custody and data entry. All of the results reported have passed the QA/QC screening.

Qualified Persons

Technical information in this news release has been approved by Matthew R. Dumala, P.Eng., a geological engineer with Archer, Cathro & Associates (1981) Limited and qualified person for the purpose of National Instrument 43-101.

About Rockhaven

Rockhaven Resources Ltd. Is a well-funded explorer focused on the exploration and development of its 100%-owned, camp-scale Klaza Property, which hosts the Klaza Deposit and numerous lightly explored exploration targets. Rockhaven has completed a mineral resource estimate and a preliminary economic assessment on the Klaza deposit (see Klaza Property Technical Report with an effective date of July 10, 2020 and titled, "Technical Report and Preliminary Economic Assessment Update for the Klaza Property, Yukon, Canada." Which can be viewed at www.sedar.com under the Rockhaven profile or on the Rockhaven website at www.rockhavenresources.com).

Matthew Turner
President, CEO and Director
Rockhaven Resources Ltd.
T:604-687-2522
mturner@rockhavenresources.com

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.

Information contained in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "encouraging", "potential", "demonstrate", "possible", "suggest", "discover", "objective" and similar expressions, or that events or conditions "may", "could" or "will" occur. Rockhaven cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the control of Rockhaven. Such factors include, among other things: risks and uncertainties relating to exploration and development and the results thereof, including the results of the recently completed drill program, the impact on mineral resource estimates, the potential for new discoveries including porphyry deposits, and the results of planned metallurgical programs, as well as the ability of Rockhaven to obtain additional financing, the need to comply with environmental and governmental regulations, fluctuations in the prices of commodities, operating hazards and risks, competition and other risks and uncertainties, including those described in Rockhaven's financial statements available under the Rockhaven profile at www.sedar.com. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Rockhaven undertakes no obligation to publicly update or revise forward-looking information.

¹Gold equivalent (AuEQ) values assume a similar metallurgy to the nearby Klaza Deposit and uses $1,800/oz Au, $22/oz Ag, $1.05/lb Pb, and $1.60/lb Zn, and variable recoveries for the different metals. The equation used is AuEq=1*Au+Ag/103.42+Pb/4.64+Zn/3.63

²See Rockhaven news release dated June 21, 2018 for the mineral resource estimate for the Klaza Deposit.

SOURCE: Rockhaven Resources Ltd.