Renforth drills 19.3 m of 3.64 g/t Au at Parbec

May 9, 2018

2018-05-09 09:13 ET – News Release

Ms. Nicole Brewster reports

RENFORTH INTERSECTS 3.64 G/T AU OVER 19.3M IN DRILLING AT PARBEC AND IDENTIFIES NEW GOLD TARGET

Renforth Resources Inc. has released its most recent Parbec drill results, including an intersection of 3.64 grams per tonne gold over 19.3 metres in PAR-18-78 in chlorite schist and diorite, which includes 4.2 m grading 11.7 g/t Au in a magnetic diorite body. This magnetic diorite is also seen in PAR-18-77, the first hole in this recent program and the most easterly drilled to date, and is visually similar to a mineralized diorite sill in PAR-17-63 which graded 9.42 g/t Au over 0.9 m, part of a wider interval of 2.34 g/t over 11.05 m (between 44.75 m and 55.8 m depth), drilled in December and previously press released, located 450 m to the west of PAR-18-78.

Parbec observations

Extended gold mineralization: Renforth drilled 19 holes at Parbec since December, 2017. Each of these holes returned gold values, extending the mineralization outside of the National Instrument 43-101 resource statement model.
New gold target identified: Newly identified magnetic diorite mineralized body located from the central part of the resource area to the eastern end of current drilling, a distance of about 450 metres to 500 metres. Higher assays may correlate with brecciated zones within the diorite welded with quartz and albite.
- The magnetic diorite zone in PAR-18-78 appears to line up with a zone seen in 1940s drilling where a grey porphyry gave several assays over one ounce/ton. These results are historic in nature and not to be relied upon.
- Unsampled core, from a unit logged as similar to the magnetic diorite and about 25 m to the east, previously drilled in hole PAR-10-06, is available to Renforth and will be sampled and assayed.
- In an initial review of existing data it is apparent PAR-86-06 intersected the magnetic diorite with an assay of 1.97 oz/t Au over 2.5 feet, drilled, logged and sampled by Brian H. Newton, PGeo. In the resource modelling process, this stood out as a higher-than-usual unique gold occurrence — the significance of the lithology was not realized at the time.

Magnetic diorite significance

Magnetic diorite identified at Parbec corresponds to iron-rich diorite intrusions documented in gold deposits previously mined in the Malartic camp. The former Barnat and East Malartic mines, part of the current adjacent Canadian Malartic mine property, totalled a production of 26.4 million tonnes for four million ounces at an average grade of 4.7 grams per tonne gold, principally developed inside the Piche Group, in a setting like the Parbec mineralization.

Iron-rich diorite can be typically called an altered rock with a composition usually observed within gold mineralization zones that includes biotite, tourmaline, pyrite and magnetite.

The relationship between the gold system, a particular type of intrusion and the mineralogical composition creates a strong exploration vector at Parbec. Extensive quartz veining is not expected from the diorite lithology, the company is targeting fractures and veinlet control inside a disseminated pyrite environment, which could form a continuous lens.

The next steps at Parbec will include data integration and interpretation, this will focus on a better understanding of data and information between historic drill logs, current drill core, geophysical and structural data, mineralogy, and geochemistry in order to identify the extent of the newly recognized magnetic diorite body and formulate future exploration targets.

Highlights of assay results for PAR-18-77 (which has been previously released) through to PAR-18-81.

                        PARBEC DRILL RESULTS PAR-18-77 TO PAR-18-81

DDH               From (m)  To (m)   Width (m)  Au (g/t)                                         Litho

PAR-18-77            14.2   17.85        3.65      0.45                               Porph, kspar alt
including            16.7   17.85        1.15      1.06
PAR-18-77           100.5   103.5           3      0.61                               Porph, kspar alt
including             102   103.5         1.5      1.08
PAR-18-77             126   129.1         3.1      0.61     Magnetic black diabase lenses within porph
including           128.5   129.1         0.6      1.68
PAR-18-77           147.5   156.5         7.5     1.104                     Breccia zone within schist
or                  144.7     152         4.5      1.48
PAR-18-77           172.8   173.5         0.7      2.99    Silicified, magnetic diorite zone in schist
PAR-18-77           181.7   184.7           3      1.17    Silicified, magnetic diorite zone in schist
PAR-18-77           270.8   271.8           1      2.01                    Tuff and tourmaline veining

PAR-18-78              11    11.6         0.6       7.2                   Porph contact k-spar altered
PAR-18-78            23.6    25.1         1.5       1.9                              Greywacke/felsite
PAR-18-78           123.9   128.4         4.5      0.87                            Porphyritic diorite
PAR-18-78           144.9   164.2        19.3      3.64                    Chlorite schist and diorite
including           151.7   164.2          14      4.76                    Chlorite schist and diorite
or including        154.7   164.2           8      6.34   Chlorite schist and diorite/magnetic diorite
or including          160   164.2         4.2      11.7                               Magnetic diorite
PAR-18-78             237     238           1      0.78             Sil magnetic diorite within schist

PAR-18-79            13.1    25.2        12.1      1.34                 Diorite, felsite and porph dio
including            14.6    21.4         6.8      1.54                            Diorite and felsite
or including         16.9    19.9           3      2.14                                        Felsite
PAR-18-79              42    43.5         1.5      0.54                                        Diorite
PAR-18-79              48      49           1      0.55                                        Diorite

PAR-18-80            33.6    40.1         6.5      0.99                             Silicified diorite
including            35.5      37         1.5      1.52                             Silicified diorite
PAR-18-80            47.9      49         1.1       1.5                      Felsite/chert welded zone
PAR-18-80            91.5    93.1         1.6       3.1                                    Quartz vein
including           92.75    93.1        0.35     13.17
PAR-18-80           123.1   124.6         1.5       0.5            Chlorite schist with diorite lenses

PAR-18-81              70    74.6         4.6      1.47                             Silicified diorite
including            71.2      72         0.8      3.78                             Silicified diorite
PAR-18-81            97.2   100.2           3       0.5                                        Diorite
PAR-18-81           172.2   173.2           1      0.59                             Silicified diorite
PAR-18-81             200   200.3         0.3      0.57                                        Felsite
PAR-18-81           215.5   216.5           1      0.56              Iron formation in mafic volcanics

Lengths and widths referred to in this press released are as measured in core, not true widths. Samples were selected, cut, bagged and tagged in the field under supervision, delivered to Bourlamaque Assay Laboratory securely, and fire assayed for gold.

The technical information in this press release has been reviewed and approved by Francis Newton, PGeo, OGQ No. 2129, a qualified person.

Martin Demers, PGeo, OGQ No. 770 is a qualified person and has provided, reviewed and approved the technical disclosure in the section magnetic diorite significance of this press release.

Mr. Newton, PGeo, is a qualified person and has reviewed and approved technical disclosure in this press release generally and specifically relating to the reference to PAR-86-06.

We seek Safe Harbor.

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