Evergold Samples Up to 16.2% Copper, 735 g/t Silver With a Man-Portable Drill, Highlighting Exploration Potential in Areas Adjacent to GL1 Main Zone, B.C.

Toronto, Ontario – January 13, 2022 – Evergold Corp. (“Evergold” or the “Company”) (TSX-V:EVER, WKN:A2PTHZ) is pleased to report that sampling carried out with a small man-portable diamond core drill at five mineralized outcrop sites within a 1.5 km radius of the emerging GL1 Main gold-silver zone, located on the Golden Lion property, north-central B.C., has returned strong to locally very high grades of copper and/or silver, and some gold.  The drilling was focused on mineralized outcrop at four sites (Figure 1) within the broad GL2 target area, which is located across a prominent ridge and fault which separates the host Lower Jurassic rocks to the southwest at GL1 Main from mainly older Triassic and Paleozoic(?) rocks to the northeast. Sampling also took place at one location toward the southern end of GL1 Main.
 
Portable Drilling Highlights:

• 16.2% copper, 1.88 g/t gold and 92.1 g/t silver over 0.5 metres in hole GL-21-BPD-014b
• 11.5% copper, 0.92 g/t gold and 31.1 g/t silver over 1.14 metres in hole GL-21-BPD-022
• 11.9% copper, 0.69 g/t gold and 37.9 g/t silver over 1.47 metres in hole GL-21-BPD-024
• 15.1% copper, 1.36 g/t gold and 43.9 g/t silver over 0.7 metres in hole GL-21-BPD-030
• 735 g/t silver over 0.3 metres in hole GL-21-BPD-012

 
Readers should note that sampling with a man-portable drill generally drills short, shallow holes and the results are not necessarily representative of the overall mineralization to depth or along trend at any particular site.
 
“These strong sampling results demonstrate the exploration potential of areas adjacent to the developing GL1 Main zone, in particular for copper, but also for gold and silver,” said Kevin Keough, President & CEO. “We observe high-grade polymetallic mineralization in outcrop at several sites lateral to the prominent N-S trending ridge that bisects the GL1 and GL2 target areas, and to the north as well.  As we focus in the coming field season on unfolding the high-grade gold-silver story at the GL1 Main zone, we’ll be keeping in mind the potential of these nearby targets, and their possible relationship to the large GL1 Main epithermal system.”
 
Details of Portable Drill Program
 
The objective of the portable drill program was to better evaluate surface prospects and showings located across the Golden Lion Property, outside of the GL1 Main zone, some of which had been partially tested in 2020 (see news, January 26, 2021). The drill produces BQ diameter (36 mm) rock core from shallow drill holes. The shallow drill holes provide a more representative sample than surface chip or channel sampling and allow for collection of important geological data. A total of 65 holes ranging from 0.5 to 6.4 metres in depth were completed, with assay results ranging from nil to 16.2% Cu, nil to 735 g/t Ag, and nil to 1.96 g/t Au.  The results confirm the presence of high-grade mineralization in the immediate sub-surface at the sampled prospects, and that the potential for precious metals enriched skarn, porphyry and vein-style mineralization in the GL2 target area remains high. Plans for further exploration, including detailed ground magnetometer work, geologic mapping, and soil geochemical sampling and prospecting, are being formulated. Should this work provide further encouragement, emerging targets may be drill-tested.
 
GL1 South Showing
 
Holes BPD-012 and 013 from the GL1 South area (see Table 1) were drilled into weakly stockwork-veined outcrops located within a strong silver-rich soil geochemical anomaly near the southern end of the known GL1 Main trend.  The quartz veining was hosted within trachytic volcanic rocks that were locally silicified and generally strongly clay altered. Mineralization within the veins consisted chiefly of limonite although trace pyrite and chalcopyrite were noted.  The veins were located near to where prospectors employed by Newmont in the mid-1980’s discovered veins in outcrop which contained the very high-grade silver-bearing mineral linarite, but unfortunately the specific mineralized zone was snow-covered at the time of the portable drill program.
 
GL2 East Ridge Showing

Most of the man-portable holes drilled in this area targeted dense stockwork vein-style mineralization hosted within chlorite-sericite-silica altered granitic rocks (diorite?). The veins host chalcopyrite and the results are intriguing in that both the granitic rocks and nearby limestone are mineralized, perhaps during an event more or less synchronous with emplacement of the granitic rocks. Elevated silver grades are also notable.
 
GL2 Skarn Showing
 
Holes GL-21-BPD-014a and 014b returned limestone (locally recrystallized)-hosted intercepts of chalcopyrite and pyrite bearing lenses, quartz veins with locally massive and more commonly semi-massive to disseminated sulphides, and disseminated sulphides also hosted locally within the wallrocks. The intercepts hosting heavier sulphides (chiefly chalcopyrite) show appreciable thicknesses (up to 1.42m) and also clearly show that gold and silver are closely associated with the copper mineralization.  This showing was also tested with a single hole in 2020 (GL-20-014) which returned a 1-metre intercept of chalcopyrite-rich sulphides within brecciated limestone between 44.36 and 45.36 metres, and assayed an encouraging 3.66 g/t Au, 33.89 g/t Ag, and 3.34% Cu.
 
GL2 Claw Pond Showing
 
The two samples drilled at GL2 Claw Pond lie along trend from an area characterized by encouraging copper and gold soil geochemical values.  The results clearly show that precious metals (gold and silver) are closely associated with copper and that there is clearly potential for vein, skarn and porphyry-style(?) copper-gold-silver mineralization east of the fault bounding the GL1 Main area on its northeast side.
 
Table 1 – Significant Portable Drill Results