Renforth drills 23.2 m of 1.25 g/t Au at Parbec

Jan 23, 2018

2018-01-23 11:44 ET – News Release

Ms. Nicole Brewster reports

RENFORTH EXTENDS PARBEC GOLD DEPOSIT STRIKE 60M WITH GOLD IN ALL 7 DRILLHOLES

Renforth Resources Inc.’s December, 2017, drilling has extended the mineralized resource model horizons at Parbec by 60 metres on strike to the northwest with gold intersected in each of seven holes. In fact, the northwesternmost hole, PAR-17-69, encountered gold over a total of 22 metres in one lithology. The December drill program was a success and validated management’s interpretation of the deposit. A comprehensive program summary, including assay results, discussion of results of each hole and comparison to the adjacent East Amphi mine portion of the Canadian Malartic Mine property, is included in this press release. Renforth has made the January, 2018, payment of $125,000 required under the option agreement; at this time, the January, 2018, drill program at Parbec is continuing and results for the current program will be released once available.

“Our first exploration drilling at Parbec extended the mineralization outside of our model, or filled in gaps within our model, with every drill hole. With downdip, updip and strike extensions where our resource model and geological understanding indicated they should be found, we have validated our model and increased the known mineralization at Parbec. It is very exciting to have the opportunity to build value while we grow our deposit size right beside one of Canada’s largest gold mines, in a very mature mining camp, in the most cost-effective project setting we could desire. I look forward to continuing to drill off this deposit,” stated Nicole Brewster, president and chief executive officer of Renforth.

                  SELECTED ASSAY RESULTS
   
Hole No.              From         To     Length         Au 
                        (m)        (m)        (m)      (g/t)

PAR-17-63            44.75       55.8      11.05       2.34
Including             45.3         48        2.7       6.15
Including               53       55.8        2.8       2.33
PAR-17-63              188      192.4        4.4       1.11
Including            189.7      190.7          1        4.4
PAR-17-64             48.4         54        5.6       0.42
Including             52.5         54        1.5       1.95
PAR-17-64             93.8       94.8          1       1.68
PAR-17-64              103     118.35      15.35       1.15
Including              103        104          1       2.46
Including            108.2     110.75       2.55       2.94
Including            112.7      117.4        4.7       1.11
PAR-17-65               13         15          2       1.31
PAR-17-66               81      84.05       3.05       0.41
PAR-17-67             76.5       79.5          3       1.34
PAR-17-67            122.9      127.9          5       1.14
Including            124.9      125.9          1       3.22
PAR-17-67            162.5        189       26.5       0.64
Including              166        183         17       0.67
Including              166        171          5       0.99
PAR-17-68               83         86          3       0.74
Including               85         86          1       1.42
PAR-17-68             89.9      113.1       23.2       1.25
Including               92       98.3        6.3       2.64
Including               92         96          4       3.39
Including               94         96          2       5.36
PAR-17-69             23.6         26        2.4       1.03
Including               25         26          1       2.34
PAR-17-69             49.1       71.4       22.3        0.6
Including             61.7       71.4        9.7       0.81
Including             61.7       66.4        4.7       1.26

Drill program results by drill hole

Drill holes are numbered in the order drilled, the P series of numbers refers back to Renforth’s Nov. 29, 2017, press release announcing the program, the hole target is referred to in the same release, the line number indicates the UTM easting the hole was collared on; drilling covered 525 metres east/west.

PAR-17-63, P12, No. 2 zone infill, line 5450:

This hole was designed to twin PAR-86-06, which gave results of 5.46 grams per tonne gold over 12.5 metres;
Successfully twinned with a result in PAR-17-63 of 2.34 grams per tonne gold over 11.05 metres; results demonstrate nugget effect.

PAR-17-64, P13, No. 2 zone infill, line 5525:

This hole resulted in a 45-metre downdip extension of mineralization modelled on diorite and porphyry horizons and confirms the tuff zone.

PAR-17-65, P11, Camp zone expansion and infill, line 5375:

This hole resulted in an updip extension of 45 metres, filling a gap in the model.

PAR-17-66, P10, Camp zone expansion and infill, line 5250:

This hole resulted in a 30-metre updip extension of the tuff zone.

PAR-17-67, P7, Camp zone expansion and infill, line 5125:

This hole resulted in downdip extension of the tuff mineralization by 55 metres and a 25-metre strike extension.

PAR-17-68, P4, West Camp zone extension, line 5025:

This hole successfully intersected the tuff mineralization seen in drilling from the 1940s, a 35-metre downdip extension as well as intersecting other mineralized horizons.

PAR-17-69, P2, West Camp zone extension, line 4925:

This hole extended the mineralized package at Parbec by 60 metres on strike to the northwest, including the tuff zone at depth in the hole and a total of 22 metres of mineralized diorite and porphyry lenses in the top of the hole.

Canadian Malartic/East Amphi mine relationship

The East Amphi mine was operated by McWatters as an open pit in the B zone after acquisition in 1998 with production of 120,427 tonnes of ore at an average diluted grade of 5.66 grams per tonne gold. After acquisition in 2003, Richmont Mines Inc. established resources in the measured and indicated category as of Dec. 31, 2005, of 1,436,052 tonnes at a grade of 5.33 grams per tonne gold for a total of 246,295 ounces of gold and inferred resources stand at 332,711 tonnes at 6.09 grams per tonne gold for 65,134 ounces of gold. In June, 2007, Richmont Mines recorded the sale of East Amphi to Osisko Exploration Ltd. for proceeds of $8,536,0003; today, the East Amphi mine forms part of the Canadian Malartic mine property.

Renforth has interpreted the mineralized zones at East Amphi (A, B and P) as similar to those at Parbec. The A zone is similar to Parbec’s tuff zone, lying within the chlorite schists. The B zones lie on the sheared contacts of porphyry and diorite bodies, similar to the diorite-hosted zones at Parbec’s No. 2 zone. The East Amphi P zone is interpreted as the same as the Parbec porphyries. The resource that was outlined at East Amphi was to a depth of 600 metres, the deepest mineralization within the Parbec resource is at 275 metres; the deepest gold intersection within the Parbec deposit is at a vertical depth of 738 metres.

Mark Wellstead, PGeo, OGQ special authorization No. 388, of Minroc Management is a qualified person pursuant to the guidelines of National Instrument 43-101 and has reviewed and approved the technical disclosure in this press release.

We seek Safe Harbor.

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