Nine Mile Metals completes successful Phase 1 drill program at its California Lake (BMC) NB project


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VANCOUVER, British Columbia, Nov. 14, 2022 (GLOBE NEWSWIRE) — NINE MILE METALS LTD. (CSE: NINE, OTCQB: VMSXF, FSE: KQ9) (the “company” or “nine mile”) is pleased to announce that it has completed its first stage 1 drill program at its California Lake VMS project. The initial program consisted of 1,226 meters of diamond drilling in 13 holes at its California Lake VMS project at Bathurst Mining Camp, New Brunswick (“BMC”). There were 2 initial orientation holes, 3 holes targeted a new gold target 400m north along the prospective VMS trend and 8 holes were drilled to intersect VMS mineralization along a 1.5km long late-age electromagnetic conductivity anomaly defined by EarthEx Geophysical Solutions Inc. (“EarthEx”). To date, 7 drill cores have been logged, photographed and intersected with 59 samples submitted to ALS Global Laboratories Ltd. in Moncton, NB for “RUSH” grade base and precious metal laboratory certified assay.

DDH - CL2203 -CL2205 (New gold target).  Sectioned samples were sent to ALS Global Laboratories for Au fire assay.

Patrick J. Cruickshank, MBA, CEO and Director stated, “We couldn’t be more excited about the future of our California Lake VMS project. This early stage 1st pass drilling program was based on an initial reprocessing of public MegaTEM datasets by our technical partner EarthEX and the overlay of late age conductive responses used by its algorithm analysis, and further cements our unique state-of-the-art exploration processes at the BMC. The success of our technology-driven Phase 1 drill program justifies the advanced investment in our California Lake model. Having VMS results in 7 of the 8 drill holes on the VMS target in a flat program is exceptional. We will now model our results in 3D and design a 2023 UAV drone and IP-EM surface grid exploration program. We look forward to analyzing the entire 1.5 km long VMS anomaly and testing this area at depth once expanded metrics become available.”

Having defined a large geophysical anomaly, the first two holes, CL2201 – CL2202, were drilled as orientation holes (116m and 107m depth respectively) to confirm the geological units and associated structure. Geological units drilled approximately due west perpendicular to the anomaly have been confirmed along with a controlling structural feature.

Holes CL2203 – CL2205 (160m, 50m and 119m depth) were drilled approximately 400 meters to the north and targeted the same anomaly and associated feature identified immediately to the west. Drill holes, which targeted gold mineralization, intersected disseminated sulphides in addition to locally widespread silicification and breccias indicative of potential mineralization. Samples have been submitted for fire assay gold analysis.

DDH - CL2203 -CL2205 (New gold target).  Sectioned samples were sent to ALS Global Laboratories for Au fire assay.DDH - CL2203 -CL2205 (New gold target).  Sectioned samples were sent to ALS Global Laboratories for Au fire assay.DDH - CL2203 -CL2205 (New gold target).  Sectioned samples were sent to ALS Global Laboratories for Au fire assay.

DDH – CL2203 -CL2205 (New gold target). Sectioned samples were sent to ALS Global Laboratories for Au fire assay.

Holes CL2206 and CL2207 (89m and 90m depth) were drilled approximately 75 meters northeast of the orientation holes and drilled west perpendicular to the geophysical anomaly. Both drill holes, collared approximately 15 meters apart, intersected visible VMS mineralization at approximately 40 to 50 meters depth. From the same drill pad, holes CL2208 – CL2210 (deep 89m, 104m and 80m) were then drilled at angled angles to trend to expand the mineralized footprint, with holes CL2208 and CL2210 intersecting visible VMS mineralization. Hole CL2211 (80m depth) was collared approximately 20 meters north of CL2206 and drilled to the west again intersecting visible VMS mineralization.

Holes CL2212 and CL2213 (62m and 80m depth) were collared approximately 75 meters west of CL2206 and drilled west to east to test the west side of the anomaly. Holes drilled from the same neck had dips of -45 and -55 degrees, respectively. Numerous zones of visible VMS mineralization were intersected in both drill holes from depths of 50 to 60 meters.

“The Phase 1 drill program at California Lake was successful and intersected visible VMS mineralization (Cu, Pb, Zn, Ag and Au) in 7 of the 8 drilled VMS target holes and potential Au mineralization in the 3 new EarthEX Target drill holes along strike to the north. We look forward to completing logging and both XRF and certified lab analysis. Assay results will be reported upon processing and receipt,” said Gary Lohman, B.Sc., P.Geo., Director. The disclosure of technical information in this news release has been prepared in accordance with Canadian regulatory requirements pursuant to National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and has been reviewed and approved by Gary Lohman. B.Sc., P.Geo., Director who acts as the Company’s Qualified Person and is not independent of the Company.

About Nine Mile Metals Ltd:

Nine Mile Metals Ltd. is a publicly traded Canadian mineral exploration company focused on the exploration of Critical Minerals VMS (Cu, Pb, Zn, Ag and Au) in the world-renowned Bathurst Mining Camp, New Brunswick, Canada. The Company’s primary business objective is exploration of its three VMS projects: Nine Mile Brook VMS Project; California Lake VMS Project; and the Canoe Landing Lake (East-West) VMS project. The Company is focused on Minerals for Technology (MFT) exploration and is positioning itself with a gold hedge for the boom in electric vehicles and green technologies that require copper, silver, lead and zinc.

ON BEHALF OF NINE MILE METALS LTD.

“Patrick J Cruickshank, MBA”CEO and Director T: 506-804-6117E: [email protected]

Forward-Looking Information:

This press release may contain forward-looking information within the meaning of Canadian securities legislation relating to Nine Mile’s business. Forward-looking information is based on certain material expectations and assumptions of Nine Mile’s management. In some cases, you can identify forward-looking statements by the use of words such as “will”, “may”, “would”, “expect”, “intend”, “plan”, “aim”, “anticipate”. “believe”, “estimate”, “predict”, “potential”, “continue”, “likely”, “could” and variations of these terms and similar expressions or the negative of these terms or similar expressions. . Forward-looking statements in this news release include that (a) the Company will now 3D model our results and design a 2023 UAV drone and IP-EM surface grid exploration program, (b) the results of the SRF and laboratory analysis will be reported upon receipt, (c) the drill holes targeting gold mineralization intersected disseminated sulphides in addition to locally widespread silicification and brecciation indicating potential mineralization, and (d) the Phase 1 drilling program at California Lake was successful and intersected visible VMS mineralization (Cu, Pb, Zn, Ag and Au) in 7 of the 8 drilled VMS target holes and potential Au mineralization in the 3 new EarthEX target holes along strike to the north. Although Nine Mile believes that the expectations and assumptions upon which such forward-looking information is based are reasonable, undue reliance should not be placed on forward-looking information as Nine Mile cannot guarantee that it will prove to be accurate.

The Canadian Securities Exchange (CSE) has not reviewed the contents of this press release and accepts no responsibility for the adequacy or accuracy of the contents of this press release.

Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cf8ce5f2-f55d-441b-b833-553c6908fc4f

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DDH – CL2203 -CL2205 (New gold target). Sectioned samples were sent to ALS Global Laboratories for Au fire assay.

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DDH – CL2203 -CL2205 (New gold target). Sectioned samples were sent to ALS Global Laboratories for Au fire assay.

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DDH – CL2203 -CL2205 (New gold target). Sectioned samples were sent to ALS Global Laboratories for Au fire assay.

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DDH – CL2203 -CL2205 (New gold target). Sectioned samples were sent to ALS Global Laboratories for Au fire assay.

Source: Nine Mile Metals Ltd.

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