May 16, 2017
Highway 50 Gold Recommences and Expands Monroe Project Drill Program
Vancouver, British Columbia -- Highway 50 Gold Corp. (TSX.V -- HWY)
Highway 50 Gold Corp. (the "Company") is pleased to announce the recommencement and expansion of drilling at the Monroe project located in southeastern British Columbia. The drilling program has been designed to test for stratiform lead-zinc-silver mineralization in a projected third-order sub-basin east of Monroe Lake. As a result of the recent successful closing of a $550,000 financing and the conclusion of spring breakup, the Company has elected to expand the existing drilling program. This will include the completion of drillhole HWY 17-003 which recommenced on May 15th, followed by the deepening of drillholes HWY 16-001 and HWY 16-002 through to definitive Lower Aldridge Formation.
As reported on April 6, 2017, drillhole HWY 17-003 was stopped at a depth of 785 m and was drilled with "HQ" diameter core (6.5 cm). Drillhole Hwy 17-003 will be cased to 785 m and reduced to NQ core (4.5 cm). A 6 m zone of vented albite fragmental was encountered at 742 m, similar to the alteration that occurs in the immediate hanging wall of the Sullivan Mine. Immediately beneath the albite fragmental are intensely sericitized sediments with veinlets and disseminations of sphalerite and galena (ZnS, PbS) present locally to the bottom of the hole.
The Company has an option to earn a 50% interest in the Monroe property by spending annual optional exploration expenditures totaling $3,000,000 over the next four years. The Company has spent $500,000 on the project over the last year.
The scientific and technical disclosure in this news release has been approved by Gordon P. Leask, P.Eng., President and CEO of the Company, and a Qualified Person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects).
For additional information:
Gordon P. Leask, P.Eng. or John M. Leask, P.Eng.
Email: email@example.com or firstname.lastname@example.org
About Highway 50 Gold Corp.
Highway 50 Gold Corp. is a mineral exploration stage company led by a team of experienced explorers and deal-makers. The Company is executing an exploration plan refined over 25 years of experience in Nevada and the Aldridge Formation of southeastern B.C. The exploration focus on its projects are a result of what management believes to be breakthroughs in the understanding of north-central Nevada's crustal architecture and new geological understanding on the Monroe property in B.C.
Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note This news release contains certain forward-looking statements, including statements regarding the Company's proposed plans for the exploration of the Monroe property; and the business and anticipated financial performance of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the Company may not obtain satisfactory results from its drilling program and exploration activities, changes in metal prices, changes in the availability of funding, unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ martially from those projected in the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward looking statements, oral or written, made by itself or on its behalf.