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Figure 1: Plan Map of Belted Targets on the Pen Gold Action

Figure 1: Plan Map of Belted Targets on the Pen Gold Project

Figure 2: Plan Map of Slate Bedrock East

Figure 2: Plan Map of Slate Bedrock East

Figure 3: Slate Bedrock East Prospect Cross Section

Figure 3: Slate Bedrock East Prospect Cross Section

Figure 4: PEN-20-049 Amount Photo with Base Arresting Gold

Figure 4: PEN-20-049 Amount Photo with Base Arresting Gold

Figure 5: Plan Map of Deerfoot Aisle (HGM Prospect)

Figure 5: Plan Map of Deerfoot Aisle (HGM Prospect)

Figure 6: HGM Prospect Cross Section

Figure 6: HGM Prospect Cross Section

Figure 7: HGM Prospect Longitudinal Map

Figure 7: HGM Prospect Longitudinal Map

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SASKATOON, Saskatchewan, June 18, 2020 (GLOBE NEWSWIRE) — GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) letters appraisal after-effects for the six absolute holes from the 3,300 m, Phase 1 2020 assignment program. In addition, the Aggregation announces a decidedly broadcast 2020 appraisal affairs at its 100% endemic Pen Gold Action (the “Project”) amid 40 kilometres west of the abounding Timmins Gold Commune in Ontario, Canada.

“The after-effects from our Phase 1 assignment affairs were significant. We fabricated a high-grade gold appraisal at Nib, intercepted cogent arresting gold and ample zones of gold mineralization at Slate Bedrock and broadcast the mineralized arrangement at HGM,” declared Brian Skanderbeg, President and CEO of GFG. “Following a acknowledged costs in May, which included affable Alamos Gold Inc. as a cardinal investor, we are in a position to outline a added advancing appraisal affairs for the added bisected of 2020. Beginning in July, we will resume conduct at the Action with a primary focus on the Nib appraisal and will appraisal added awful -to-be belted targets. The revised appraisal affairs will be our bigger assignment attack to date and we are assured that we will abide to authenticate the abeyant that exists beyond our 480 aboveboard kilometre acreage amalgamation amid in one of the richest gold districts in the world.”

2020 Phase 1 Assignment Affairs ResultsDuring the aboriginal division of 2020, the Aggregation completed an eight-hole (3,300 m) Phase 1 assignment affairs testing targets at the Nib, HGM and Slate Bedrock East affairs (See Table 1 and Figures 1-5). The Aggregation ahead appear after-effects from two assignment holes (See account absolution anachronous April 6, 2020) that included a new gold appraisal at the Nib Prospect (PEN-20-47: 71.27 g/t Au over 8.5 m, including 511.00 g/t Au over 1.15 m). The absolute after-effects from the Phase 1 affairs at the Slate Bedrock and HGM Affairs are provided below.

Slate RockThe Slate Bedrock arena hosts an underexplored and awful -to-be mineralized arrangement that is centered on a dioritic advancing circuitous that extends for over four kilometres in the abundantly overburden- and lake-covered northwest allotment of the Action (See Figures 1-2). 

Broadly spaced conduct at Slate Bedrock East alternate multiple, advanced intervals of low-grade gold mineralization in variably askew diorite and porphyritic diorite that are associated with quartz-carbonate veins and veinlets, abstinent to acute quartz-albite-sericite-carbonate about-face and broadcast and veinlet pyrite (See Figures 2-4). 

Despite the low gold grades encountered at Slate Bedrock to-date, the ambition charcoal a aerial antecedence for added conduct due to absence of drilling, the abeyant for high-grade mineralization as exemplified from bedrock samples and the attendance of base arresting gold in assignment amount (See Figure 4).

PEN-20-048 targeted the southern acquaintance of the advancing circuitous with felsic volcanics, intersected two zones of mineralization aural a porphyritic diorite assemblage centralized to the circuitous that alternate 0.22 g/t Au over 7.3 m and 0.31 g/t Au over 14.2 m at 74.5 and 114.4 m down-hole, respectively. 

PEN-20-049 was advised to appraisal modelled structures centralized to the circuitous axiomatic in aerial alluring abstracts and intersected four ample zones of mineralization. The best cogent breach alternate 0.29 g/t Au over 25.5 m at 127.5 m down-hole. This ambush included 2.36 g/t Au over 1.0 m and 1.38 g/t Au over 1.0 m with the attendance of base arresting gold aural a sheared, biotite-rich breach (See Figure 4). This is the aboriginal authentic case of arresting gold at Slate Bedrock and its accord to a ahead anonymous microburst area provides admired advice to agent appear college brand gold mineralization.

HGMThe HGM Prospect is in the eastern allocation of the Action forth the Deerfoot anamorphosis zone.  Assignment testing for abyss addendum at HGM connected to bisect assorted zones of gold mineralization and can now be traced to a abyss of 500 m beneath apparent (See Figures 5-7). The mineralized zones action aural a axial mafic agitable assemblage that is belted by dominantly ultramafic bodies.  The high-grade attributes of the mineralization at HGM has been accepted with absolute intercepts of 7.53 g/t Au over 2.2 m and 25.96 g/t Au over 1.0 m in aperture PEN-19-039 and 21.54 g/t Au over 3.9 m in aperture DF94-18.

PEN-20-043 was advised to appraisal for an eastward attempt to the gold zones and encountered the ambition mafic agitable assemblage and intersected two zones of gold mineralization. The aboriginal zone, occurring in an acutely quartz-sericite adapted felsic dike, alternate 0.31 g/t Au over 13.4 m at 329.9 m down-hole. The added area alternate 1.31 g/t Au over 1.2 m in a sulphidized, quartz-carbonate adapted and acutely askew mafic volcanics at 449.1 m down-hole.

PEN-20-045 activated for a westward attempt to the gold zones 150 m from PEN-20-043 and encountered three zones of gold mineralization aural the ambition mafic agitable unit.  The aboriginal zone, occurring abreast the hanging-wall acquaintance with the arctic ultramafic body, alternate 4.50 g/t Au over 3.1 m and included 12.80 g/t Au over 1.0 m. This area consists of acutely askew and quartz-carbonate adapted mafic agitable with stockwork quartz-carbonate veinlets and 3-5% broadcast and veinlet pyrite and an adapted felsic dike. The added area occurs aural agnate adapted mafic agitable rocks and alternate 0.56 g/t Au over 3.0 m and 0.91 g/t Au over 4.9 m. The third area occurs in acutely askew mafic volcanics at the southern, or lower, acquaintance with a felsic barricade agnate to the high zone.

PEN-20-051 was advised to appraisal the gap amid holes PEN-20-043 and PEN-20-045, intersected three zones of mineralization. The high two zones action with askew and adapted mafic volcanics and alternate 0.37 g/t Au over 3.0 m and 1.89 g/t Au over 1.0 m.  The third area occurs in an acutely quartz-sericite adapted felsic barricade with quartz stockwork veining and 3-5% broadcast pyrite.

This affiliation of gold mineralization with felsic dikes empiric in PEN-20-45 and PEN-20-051 is not archetypal of HGM mineralization at shallower base but does action 400 m to the west at the Crawford Prospect advertence it is an important adapted of gold mineralization in this articulation of the Deerfoot anamorphosis zone. Assignment aperture abstracts is currently actuality advised to accent assignment targets forth this trend which has accustomed its prospectivity for high-grade gold mineralization.

2020 Appraisal and Assignment ProgramsFollowing the new appraisal at the Nib ambition in April and able banknote position of about C$7.1 million, the Aggregation has angled its 2020 appraisal account for the Pen Gold Action to about C$4.0 million. The revised appraisal affairs and account will focus abundantly on drilling, a adverse from antecedent appraisal campaigns back accepting the acreage amalgamation in 2018.

The broadcast 2020 appraisal affairs will accommodate about 8,500 m of conduct that is advancing to activate in July and to be completed in December. The majority of the assignment affairs will focus on testing for extensions to the Nib appraisal and adjacent targets that are in agnate geological settings. The assignment affairs will additionally accommodate aftereffect conduct forth the Deerfoot aisle and testing new targets such as Broadway and Boundary (See Figure 1).

In accession to the assignment program, the Aggregation has accomplished several field-based programs that accommodate bombinate alluring surveys, IP, till sampling, prospecting and mapping with the cold to beforehand belted targets to a drill-ready stage.

Table 1: After-effects from the 2020 Phase 1 Assignment Affairs at the Pen Gold Project

*Gold intervals appear in the aloft table are at 0.2 and 1.0 g/t cut-offs. Weighted averaging has been acclimated to account all appear intervals. True widths are estimated at 70-90% of accomplished thickness.(1) Ahead appear composites at the Nib Prospect.

Figure 1: Plan Map of Belted Targets on the Pen Gold Project

Figure 2: Plan Map of Slate Bedrock East

Figure 3: Slate Bedrock East Prospect Cross Section

Figure 4: PEN-20-049 Amount Photo with Base Arresting Gold

Figure 5: Plan Map of Deerfoot Aisle (HGM Prospect)

Figure 6: HGM Prospect Cross Section

Figure 7: HGM Prospect Longitudinal Map

About GFG Resources Inc.

GFG Resources is a North American adored metals appraisal aggregation focused on commune calibration gold projects in bank one mining jurisdictions, Ontario and Wyoming. In Ontario, the Aggregation owns 100% of the Pen and Dore gold projects, two ample and awful -to-be gold backdrop west of the abounding gold commune of Timmins, Ontario, Canada. The Pen and the Dore gold projects accept agnate geological settings that host best of the gold deposits begin in the Timmins Gold Camp which accept produced over 70 actor ounces of gold. The Aggregation additionally owns 100% of the Rattlesnake Hills Gold Project, a commune calibration gold appraisal action amid about 100 kilometres southwest of Casper, Wyoming, U.S.  The geologic setting, about-face and mineralization apparent in the Rattlesnake Hills are agnate to added gold deposits of the Rocky Mountain acrid arena which, collectively, accept produced over 50 actor ounces of gold.

For added information, amuse contact:

Brian Skanderbeg, President & CEOPhone: (306) 931-0930orMarc Lepage, Vice President, Business DevelopmentPhone: (306) 931-0930Email: [email protected]: www.gfgresources.com

Stay Connected with UsTwitter: @GFGResourcesLinkedIn: https://www.linkedin.com/company/gfgresources/Facebook: https://www.facebook.com/GFGResourcesInc/

Qualified PersonsBrian Skanderbeg, P.Geo. and M.Sc., President and CEO, is the Qualified Person for the advice independent in this columnist absolution and is a Qualified Person aural the acceptation of National Instrument 43-101. Mr. Skanderbeg has advised the sampling and QA/QC procedures and after-effects thereof as appraisal of the sampling abstracts appear aloft and has accustomed the advice independent in this account release.

Sampling and Affection ControlDrill amount samples are actuality analyzed for gold by Activation Laboratories Ltd. in Timmins, Ontario. Gold appraisal consists of the alertness of a 500-gram lurid and an appraisal of a 50-gram aliquot by Pb accumulating blaze appraisal with an Atomic Absorption Spectrometry accomplishment (Package 1A2-50. Samples assaying aloft 5 ppm Au are commonly re-run application a gravimetric accomplishment (Package 1A3-50). Mineralized zones absolute arresting gold are analyzed by a awning brownish blaze appraisal method. Selected samples are additionally ability multi-element appraisal for 59 added elements application a four-acid assimilation and an ICP-MS accomplishment (Package MA250) by Bureau Veritas Commodities Canada Ltd. in Vancouver, British Columbia. Affection ascendancy and affirmation measures accommodate the ecology of after-effects for amid certified advertence materials, base blanks and alertness duplicates of assignment core.

Sampling protocols, affection ascendancy and affirmation measures and geochemical after-effects accompanying to celebrated till, bedrock grab, and assignment amount samples quoted in this account absolution accept not been absolute by the Qualified Person and accordingly charge be admired as estimates.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

All statements, added than statements of absolute fact, independent in this account absolution aggregate “forward-looking information” aural the acceptation of applicative Canadian balance laws and “forward-looking statements” aural the acceptation of the United States Private Balance Litigation Reform Act of 1995 (referred to herein as “forward-looking statements”).  Advanced statements include, but are not bound to, the approaching amount of gold, success of appraisal activities and metallurgical appraisal work, acceptance time lines, bill barter amount fluctuations, requirements for added capital, government adjustment of appraisal work, ecology risks, hasty affirmation expenses, appellation disputes or claims and limitations on allowance coverage.  Generally, these advanced statements can be articular by the use of advanced analogue such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate” or “believes”, or the abrogating association thereof or variations of such words and phrases or accompaniment that assertive actions, contest or results, “may”, “could”, “would”, “will”, “might” or “will be taken”, “occur” or “be achieved” or the abrogating association thereof. 

All advanced statements are based on assorted assumptions, including, after limitation, the expectations and behavior of management, the affected abiding amount of gold, that the Aggregation will accept adapted permits and admission to apparent rights, that the Aggregation can admission financing, adapted accessories and acceptable labour, and that the political ambiance aural Canada and the United States will abide to abutment the development of mining projects in Canada and the United States.  In addition, the affinity or adjacency of added gold deposits to the Rattlesnake Hill Gold Project, the Pen Gold Action and the Dore Gold Action is not all-important apocalyptic of the geological setting, about-face and mineralization of the Rattlesnake Hills Gold Project, the Pen Gold Action and the Dore Gold Project.

Forward-looking statements are accountable to accepted and alien risks, uncertainties and added factors that may account the absolute results, akin of activity, achievement or achievements of GFG to be materially altered from those bidding or adumbrated by such advanced statements, including but not bound to: absolute after-effects of accepted appraisal activities; ecology risks; approaching prices of gold; operating risks; accidents, labour issues and added risks of the mining industry; delays in accepting government approvals or financing; and added risks and uncertainties.  These risks and uncertainties are not, and should not be construed as being, exhaustive. 

Although GFG has attempted to analyze important factors that could account absolute after-effects to alter materially from those independent in advanced statements, there may be added factors that account after-effects not to be as anticipated, estimated or intended.  There can be no affirmation that such statements will prove to be accurate, as absolute after-effects and approaching contest could alter materially from those advancing in such statements.  In addition, advanced statements are provided alone for the purpose of accouterment advice about management’s accepted expectations and affairs and acceptance investors and others to get a bigger compassionate of our operating environment.  Accordingly, readers should not abode disproportionate assurance on advanced statements. 

Forward-looking statements in this account absolution are fabricated as of the date hereof and GFG assumes no obligation to amend any advanced statements, except as adapted by applicative laws.

Photos accompanying this advertisement are accessible at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/e6316dab-507e-4ae7-bcdc-c160ab05da48

https://www.globenewswire.com/NewsRoom/AttachmentNg/a1cc9403-afa2-4d68-bb73-647b1174826d

https://www.globenewswire.com/NewsRoom/AttachmentNg/5d82fc4e-2c1a-4844-94ab-7507b4f179f3

https://www.globenewswire.com/NewsRoom/AttachmentNg/ab9ef05f-7b9d-44ac-84a5-0827d5dc70f5

https://www.globenewswire.com/NewsRoom/AttachmentNg/d495906d-34e0-4068-a32b-81300da8f95f

https://www.globenewswire.com/NewsRoom/AttachmentNg/8e928ed9-541f-4191-be4b-4f982f80a564

https://www.globenewswire.com/NewsRoom/AttachmentNg/ec360be8-a1e7-41a0-aa2e-bb21a2c5218a

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