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pXRF Analysis identifies significant mineralized intervals in 14 drill holes

Endurance Gold Corporation (EDG -- TSX.V) (the “Company) is pleased to provide an update on the geological evaluation of the reverse circulation (“RC”) drill program recently completed at its Reliance Gold Property (the “Property”) in southern British Columbia. The Property is located 4 kilometres (“km”) east of the village of Gold Bridge with year-round road access, and 10 km north of the historic Bralorne-Pioneer Gold Mining Camp which has produced over 4 million ounces of gold.

Portable X-Ray Fluorescence (“pXRF”) of the RC chips has identified interval widths enriched in arsenic (“As”) and antimony (“Sb”) in 14 of the RC drill holes completed on the Eagle, Eagle South and Imperial Zones. The pXRF technique does not report quantifiable gold but previous work by the Company has shown that As and Sb mineralization has a strong positive correlation with gold mineralization.

Highlight pXRF results include 3,227 parts per million (“ppm”) pXRF As and 3,774 ppm pXRF Sb over 24.4 metres (“m”) commencing at the drill collar of RC20-015 on the Eagle Zone. This RC drill hole was drilled under the Eagle 1 channel sample reported in October 2020 that averaged 5.89 grams per tonne (“gpt”) Au and 3,757 ppm As over 31.5 m. Mineralized intervals identified with the pXRF from all RC holes are reported below.

A total of 609 RC samples have also been submitted to the ALS Global laboratory for gold assay and multi-element ICP analysis. Complete gold assays are expected in 8 to 10 weeks and results will be reported when received.

Geological descriptions and pXRF analysis of the retained reference RC chips was completed through to the end of December. A December 2020 map showing all the 2020 drill hole locations is available on the Company’s website.

Eagle Zone pXRF Results.

Nine RC drill holes were completed on the Eagle Zone and all drill holes intersected mineralized widths varying from 7.6 m to 24.4 m defined by elevated pXRF As and pXRF Sb concentrations similar in tenor to previously reported channel samples with high-grade gold mineralization. Current geological interpretations indicate that drilling at the Eagle Zone has intersected three subparallel shear strands striking at 350 degrees and dipping about 60 to 70 degrees to the west. All of the shear strands are hosted within sheared and intensely ankerite (iron carbonate) and sericite altered andesitic volcanics. The nine RC drill holes at Eagle were drilled perpendicular to the interpreted shear strands and therefore drill intervals approximate true widths. A detailed map showing the Eagle Zone drill hole locations with pXRF results and the northern and southern vertical cross-sections are appended below. Based on the pXRF results and RC chip observations, the three most significant strands of the Royal Shear at the Eagle Zone are designated as the Eagle 3 Shear Strand, Eagle 1 Shear Strand, and the Eagle 0 Shear Strand.

Eagle 3 Shear Strand -- This is the most easterly shear strand identified to date and is located near a contact between strongly altered andesitic volcanics and a sedimentary sequence of argillite-chert (see Section 5635770N). The strike and dip of the Eagle 3 Shear Strand is based on five RC drill holes that intersected mineralization on multiple sections, and the Eagle 3 channel sample which identified mineralization at surface. As reported on November 16, 2020 , channel sampling from outcrop at the Eagle 3 road cut averaged 4.88 gpt gold over 23.5 m, including two higher grade intervals of 8.60 gpt gold over 9.1 m and 10.87 gpt gold over 2.1 m. This Eagle 3 surface channel sample zone also averaged 3,109 ppm As and 2,158 ppm Sb over the 23.5 m interval. The strike and dip extent of the Eagle 3 Shear Strand was defined with the five drill holes RC20-009 to RC20-013 which returned intervals ranging between 1,000 ppm and 1,763 ppm pXRF As, and 781 ppm to 3,829 ppm pXRF Sb over widths between 7.6 m and 19.8 m. Pyrite, arsenopyrite and stibnite bearing quartz vein chips were observed in three of the five RC drill holes.

Eagle 1 Shear Strand -- The most significant exposure of the Eagle 1 Shear Strand is located on the Eagle 1 road cut. As reported on October 26, 2020 , Eagle 1 channel sampling from outcrop averaged 5.89 gpt gold over 31.5 m including a higher grade interval of 9.69 gpt gold over 9.1 m. This Eagle 1 surface channel sample zone also averaged 3,757 ppm As and 8,184 ppm Sb over the 31.5 m. Drill holes RC20-014 and RC20-015 were collared approximately 10 m from the Eagle 1 channel sampled outcrop and were inclined to test below the mineralized interval. Both of these drill holes collared in mineralization and returned values of 1,980 ppm and 3,227 ppm pXRF As, & 5,222 ppm and 3,774 ppm pXRF Sb over widths of 21.1 m and 24.4 m respectively. A third hole RC20-016 was collared about 30 m to the south and intersected the interpreted strike extension of the Eagle 1 Shear Strand further down hole with values of 1,203 ppm pXRF As and 547 ppm pXRF Sb over 19.8 m. It is also possible that the Eagle 3 Shear Strand was intersected near the bottom of all three RC drill holes that tested this Eagle 1 Shear Strand. Pyrite, arsenopyrite and stibnite bearing quartz vein chips were observed in all three holes associated with the better elevated pXRF As intersections.

Eagle 0 Shear Strand -- As reported on October 26, 2020 , channel sampling from the Eagle 0 outcrop averaged 3.63 gpt gold over 17.7 m including two higher grade intervals of 7.19 gpt gold over 3.7 m and 6.35 gpt gold over 4.9 m. This Eagle 0 surface channel sample zone also averaged 1,727 ppm As and 2,586 ppm Sb over the 17.7 m. At Eagle 0, RC20-017 was collared just to the south of the sampled road cut and drilled at minus 45 degrees under the outcrop. RC20-017 collared in the Eagle 0 Shear Strand and intersected values of 1,763 ppm pXRF As & 3,429 ppm pXRF Sb over 19.8 m. Pyrite, arsenopyrite and stibnite bearing quartz vein chips were observed in RC20-017.

Eagle South Zone pXRF Results

As reported on October 15, 2020 , channel sampling from outcrop returned 8.9 gpt gold over 9.6 m within a wider mineralized zone of 6.92 gpt gold over 13.4 m. The Eagle South surface channels also returned an average 2,230 ppm As and 544 ppm Sb over the 13.4 m. The collar for both RC20-007 and RC20-008 was located 9 m southwest of the channel-sampled outcrop and the inclined holes were designed to test for mineralization at depth and along strike. pXRF results were weaker than expected with the best results being 1,292 ppm pXRF As over 3.0 m and 1,112 ppm pXRF over 3.0m from the two holes respectively. A secondary, shallower intersection of 404 ppm pXRF As over 6.1 m was also returned from RC20-007.

Imperial Zone pXRF Results

The Imperial Main Zone has never been identified at surface and drill holes RC20-003, RC20-005 and RC20-006 were completed to test for the near-surface extent of mineralization based on interpretation of historic drilling results. RC20-005 had no significant enriched intervals, however RC20-003 and RC20-006 returned values of 597 ppm and 1,253 ppm pXRF As over widths of 13.7 m and 15.2 m respectively.

As reported on November 23, 2020 , channel sampling from the Imperial North outcrop averaged 3.14 gpt gold and 1,780 ppm As over 6.7 m. RC holes RC20-001 and RC20-002 were collared 35 m south of the Imperial North channel sample. The most encouraging scan result indicates a zone at the collar of RC20-002 that average 663 ppm pXRF As over 6.1 m.

Option Agreement Proceeding and Next Steps

In December 2020, the Company completed the required payment of $20,000 cash and 300,000 shares to the Vendors of the Reliance Property to maintain the option to earn 100% interest. In addition, a final payment of 100,000 shares was completed to the Finder who introduced the Vendors to the Company. In December, the Company also completed the purchase of an adjoining mining claim contiguous with the property.

While we await the assay results from the RC Drilling, the Company is preparing updates for shareholders on the 2020 biogeochemical survey and other geological studies. We will also continue with preparation and completion of technical reports for the 2020 program and, in anticipation of encouraging results from the 2020 drilling, we will initiate planning for next stage of 2021 drilling on the property.

Endurance Gold Corporation is a company focused on the acquisition, exploration and development of highly prospective North American mineral properties with the potential to develop world-class deposits.



Robert T. Boyd

Endurance Gold Corporation www.endurancegold.com
(604) 682-2707, info@endurancegold.com


RC samples were collected under the supervision of a geologist at the drilling rig. Drilling was completed using a 3.5 inch hammer bit and rock chip samples were collected using a cyclone. Sample size were reduced to 1/8th size with a riffle splitter at the drilling rig. A second duplicate split and coarse chips were collected for reference material and stored at the property. All RC samples were submitted to ALS Global in North Vancouver, BC, an ISO/IEC 17025:2017 accredited laboratory, where they are crushed to 70% <2 mm then up to 250 gram pulverized to <75 microns. Samples are then submitted for four-acid digestion and analyzed for 48 element ICP-MS (ME-MS61) and gold 30g FA ICP-AES finish (AU-ICP21). Over limit samples returning greater than 10 ppm gold will be re-analyzed by Au-GRA21 methodology and over limit antimony returning greater than 10,000 ppm Sb will be re-analyzed by Sb-AA08 methodology. pXRF analysis was conducted by a Company geotechnician at the project site on the RC coarse chips that were saved as reference material. An Olympus Vanta XRF Analyzer was used for the analysis which is capable of measuring elements from concentrations as low as single parts per million (ppm). Duplicate pXRF analysis was also conducted on a select set of the duplicate split samples to test for reproducibility.

The work program was supervised by Darren O’Brien, P.Geo., an independent consultant and qualified person as defined in National Instrument 43-101. Mr. O’Brien has reviewed and approved this news release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from the expected results.