March 1, 2022, VANCOUVER, B.C., ESGOLD Metals Corp. (The “Company”) (CSE: SEK  ::  FSE: N4UN  ::  OTC: SEKZF) is pleased to announce the mobilization of a sonic drill rig to the Montauban Gold Project in order to complete a resource definition drilling program.

The drilling program will be comprised of roughly 275 holes at 25m spacings and at depths of up to 15m. The focus of the exploration will be on all five tailings sites on the property, including the Montauban United site, which has not been previously evaluated. The upcoming program will build upon previous campaigns with a higher density of holes and a full analytical suite leading to an even higher degree of confidence in the amount of metals contained.

Concurrent to the sonic drilling, a geophysical crew will conduct a combination of seismic refraction and Ground-Penetrating Radar (“GPR”) surveys to accurately delineate the depth of the tailings for a more precise volumetric measurement.

This campaign results will be submitted to BBA Engineering Ltd., who will conduct a resource estimation and subsequent Preliminary Economic Assessment (see December 29 news release).

Figure 1: Detailed Drilling Targets at Montauban

“As you can see from the targets on the attached map, the drilling at Montauban is a systematic and methodical exploration program designed to expand the resource, fill in and complete the areas missed in historical drilling, and aid in the logistics of actually processing the tailings,” stated Brad Kitchen, CEO. of ESGOLD Metals.  “This will not be the only exploration program at Montauban this year.  Immediately upon completion of this program, ESGOLD will be working with Longford Exploration to develop and implement a hard rock drilling program below the tailings resource at Montauban.

Figure 2: Mobilization of Drill Rig at Montauban

 

Qualified Person: Alexander Beloborodov (P. Geo) is a Qualified Person (“QP”) as defined by National Instrument 43-101 guidelines, and he has reviewed and approved the technical content of this news release.

About the Company

ESGOLD Metals Corp. is a Canadian environmentally aware resource exploration and processing company. Management has demonstrated expertise in advancing gold exploration projects into acquisition targets, most notably in the province of Quebec. ESGOLD’s principal restoration and recovery project is the Montauban property situated in Quebec, just 80 kilometers west of Quebec City. The Company is proposing to commence operations by the end of 2022. The Company’s main exploration focus is its 100% ownership of the Eagle River project, which is adjacent to and on-trend to several gold projects in the Windfall Lake district of Urban Barry in Quebec. ESGOLD will use its expertise in early-stage exploration to create shareholder value by attempting to prove out the resource in these assets.

For more information on ESGOLD Metals Corp., please contact info@esgold.com, Tel: +1 604-558-5397 or visit the website at https://esgold.com for the French version of this news release, past news releases, media interviews and opinion-editorial pieces by CEO and Chairman Brad Kitchen. You can also follow ESGOLD on Telegram forum at: https://t.me/ESGOLD

On Behalf of the Board of Directors, ESGOLD METALS CORP.

“Brad Kitchen”

Chairman, CEO, and Director

Tel: +1 604-506-7555

Email: info@esgold.com

This press release contains “forward-looking information” that is based on the Company’s current expectations, estimates, forecasts, and projections. This forward-looking information includes, among other things, statements with respect to the Company’s exploration and development plans. The words “will”, “anticipated”, “plans” or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward looking information.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.