CORRECTING and REPLACING — Manitou Gold Continues to Intersect Wide Zones of Gold Mineralization on the Baltimore Deformation Zone (“BDZ”); Commences Geophysical Surveying of Western 10 Km of BDZ

SUDBURY, Ontario, Feb. 09, 2021 (GLOBE NEWSWIRE) — In a launch issued below the identical headline earlier at this time by Manitou Gold Inc. (TSX-V: MTU), please be aware that hyperlinks to 2 maps had been inadvertently faraway from the Highlights part, beneath the bulleted textual content. The corrected launch follows:

Manitou Gold Inc. (TSX-V: MTU) (the “Firm” or “Manitou”) Is happy to announce further assay outcomes from its ongoing 10,000 metre drill program alongside the japanese portion of the Baltimore deformation zone (the “BDZ”) on its 100% owned Goudreau Mission in Northeastern Ontario. Highlights of drill outcomes are from the Stover incidence, the place the Firm is reporting assay outcomes from an further three drill holes accomplished in January of this 12 months. Drilling is constant with two diamond drill rigs to check the Stover incidence and 28 different excessive precedence targets on the japanese 4 km of the 17 km size of our BDZ.

Highlights:

• Drilling continues to intersect broad zones of gold mineralization alongside strike and down plunge of beforehand introduced, shallower drill gap intersections on the Stover Zone with highlights together with:
  ◦ 57.3 m at 0.3 g/t Au (beginning at 150.7 m down gap), together with 5.0 m at 1.5 g/t Au in gap MTU-21-03.
  ◦ 26.8 m at 0.3 g/t Au (beginning at 85.2 m down gap) and a separate intersection of 13.8 m at 0.5 g/t Au (beginning at 132.6 m down gap) which incorporates 1.6 m at 1.5 g/t Au in gap MTU-21-02.
• These intersections are beneath and down plunge of holes MTU-20-49, 52 and 56 which intersected:
  ◦ 39.9 m at 0.5 g/t in gap MTU-20-49, 0.8 g/t Au over 18.0 m, together with 3.3 g/t Au over 2.1 m in gap MTU-20-52; and
  ◦ 15 m grading 1.5 g/t Au, together with 5.3 m at 2.7 g/t Au in gap MTU-20-56.
• The Stover zone stays open in all instructions; further drilling to take a look at for greater grade shoots is ongoing. A second diamond drill is testing new targets alongside a 4 km portion of the BDZ.
• Outcomes to this point display unrealized potential of the BDZ which extends for 17 km on Manitou property with lower than 5000 m of historic gold exploration drilling. The present 10,000 metre drill program is greater than double all historic drilling alongside the BDZ.
• Firm is making ready to finish a giant 300 line km floor geophysical survey to cowl a further 10 km of strike size of the Baltimore deformation zone, which represents the fault offset extension of the Goudreau Localsh deformation zone internet hosting the Island Gold mine and the Magino deposit.

See map of BDZ illustrating Stover grid and new, Main grid.

See map illustrating drill plan at the Stover zone.

“Outcomes reported at this time present additional proof that the Baltimore deformation zone has the potential to host vital gold mineralization over giant areas. This helps our view {that a} a lot bigger exploration program is required to totally take a look at what’s believed to be the continuation of the Goudreau-Localsh deformation zone,” said Richard Murphy, President and CEO of Manitou Gold. “Concurrent with the continued 10,000 metre drill program, we shall be advancing the exploration of a further 10 kilometres of strike size of the Baltimore deformation zone with the purpose of producing drill prepared targets by the winter and spring which shall be transformational in advancing Manitou’s exploration of this underexplored a part of Michipicoten gold camp.”

Stover Zone

Up to now the Firm has accomplished 11 diamond drill holes totalling 2,335 meters on the Stover incidence, positioned throughout the Baltimore deformation zone. Beforehand launched drill holes (see news release dated December 16, 2020 & news release January dated January 12, 2021) intersected as much as 39.9 m at 0.5 g/t in gap MTU-20-49, 0.8 g/t Au over 18.0 m, together with 3.3 g/t Au over 2.1 m in gap MTU-20-52 and 15 m grading 1.5 g/t Au, together with 5.3 m at 2.7 g/t Au in gap MTU-20-56.

As we speak’s outcomes embody two drill holes collared alongside strike to the west in addition to vertically beneath MTU-20-49 which proceed to intersect broad gold mineralization with widths exceeding 57 meters and grading 0.3 g/t Au, together with 3.0 m at 2.0 g/t Au.

Further drilling is underway to higher set up the presence and continuity of higher-grade mineralized shoots. Indications primarily based on the presence of upper grade mineralization in holes MTU-20-52 and MTU-20-56 are very constructive.

Important drill outcomes for the three further diamond drill holes accomplished on the Stover zone since January are summarized in Desk 1 beneath. Outcomes for a further two drill holes are pending and shall be launched as assays develop into obtainable.

Desk 1: Stover Zone Drill Gap Intersections

True widths should not identified at the moment.

The Stover zone is characterised by broad zones of intense sericite-carbonate and domestically intense potassic and fuchsite alteration. Sulfide mineralization consisting of hint to fifteen% pyrite (+/- arsenopyrite and minor pyrrhotite) happens in compressional quartz veins and alteration zones.

Mineralization intersected on the Stover zone is coincident with a linear, 4 kilometre lengthy southeast hanging magnetic-low, in addition to reasonable IP chargeability and resistivity traits, that are typically interpreted as a sign of gold-associated mineralization. Drilling alongside this pattern is ongoing.

Exploration Potential alongside the rest of the BDZ

The japanese half of Manitou’s Goudreau venture is centrally positioned over the Baltimore deformation zone, encompassing 17 kilometre of strike size of the BDZ. Geological and geophysical interpretation means that the BDZ is the fault offset continuation of the Goudreau Localsh deformation zone internet hosting Alamos Gold’s Island gold deposit and Argonaut Gold’s Magino deposit, along with quite a few smaller-scale previous producing mines together with the Cline and Edwards.

As a fault offset extension of the Goudreau-Localsh deformation zone which hosts two multi-million ounce gold deposits, and has seen an estimated 1,000,000 metres of drilling for gold, the BDZ has been extraordinarily under-explored alongside its 17 kilometre lengthy pattern, with solely 4400 metres of historic gold drilling.

With the intention to advance exploration alongside this extremely potential, largely unexplored pattern, the Firm plans a 300 line-kilometer induced polarization and floor magnetic survey to cowl a further 10 km strike size of the Baltimore deformation zone to delineate new drill targets.

Concerning the Goudreau Mission

The Goudreau venture is positioned 50 kilometres northeast of Wawa, Ontario and is underlain by Archean-aged rocks of the Michipicoten Greenstone belt. The venture space is traversed by a number of broad-scale deformation corridors, which host the vast majority of the vital regional gold deposits and showings within the area. The Goudreau venture covers roughly 350 sq. kilometres on this re-emerging gold camp that hosts Alamos Gold’s Island Gold deposit and Argonaut Gold’s Magino deposit to the west and the previous producing Renabie mine to the east.

Manitou has strategic shareholders together with Alamos Gold and O3 Mining.

Sampling and High quality Management

Samples had been delivered to Activation Laboratories (“Actlabs”) in Thunder Bay, Ontario. On the laboratory, samples had been crushed as much as 80% passing 2 mm, riffle cut up (250 g) after which pulverized to 95% passing 105 microns. Gold was analyzed by hearth assay with an AA end, utilizing the 50 g sub-sample. Over restrict evaluation was carried out on all major assay outcomes >3 g/t gold. Throughout limits had been examined by hearth assay with gravimetric end utilizing a 50 g sub-sample. Actlabs is a licensed and ISO 17025 accredited laboratory. Requirements and blanks had been routinely inserted into the stream of core and channel samples. No less than 20 p.c of the core and channel samples submitted to the laboratory comprise samples used for high quality management. Actlabs routinely inserts their very own licensed reference supplies for at the very least 20 p.c high quality management in every batch.

Richard Murphy, P.Geo is the certified particular person accountable for the technical content material contained on this launch. He has reviewed and authorised the content material contained herein.

For additional info on Manitou Gold Inc. contact:

Richard Murphy, CEO
Phone: 1 (705) 698-1962
Electronic mail: info@manitougold.com

Neither TSX Enterprise Trade nor its Regulation Providers Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Trade) accepts accountability for the adequacy or accuracy of this launch.

Ahead Wanting Statements – Sure info set forth on this information launch could include forward-looking statements that contain substantial identified and unknown dangers and uncertainties. These forward-looking statements are topic to quite a few dangers and uncertainties, sure of that are past the management of Manitou, together with, however not restricted to the receipt of relevant shareholder approvals. Readers are cautioned that the assumptions used within the preparation of such info, though thought-about cheap on the time of preparation, could show to be imprecise and, as such, undue reliance shouldn’t be positioned on forward-looking statements.