Kingfisher Highlights High-Grade Gold Potential at Thibert Project with Airborne Geophysical and Property-Wide Stream Sediment Surveys Returning Anomalies up to 1535.5 ppb Gold

VANCOUVER, British Columbia, March 29, 2022 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) announces results from its 100% owned Thibert Project. Thibert is located 50 km north-northwest of the town of Dease Lake and west of the Stewart-Cassiar Highway 37, British Columbia.

Highlights

  • The 130 km2 Thibert Project has seen placer gold production since the 1870s with ~200,000 oz of gold production within the Thibert-Dease Placer Camp. Placer gold is typically sourced from nuggety high grade gold in veins.
  • Kingfisher completed a property-wide (688-line km) airborne magnetic and radiometric survey which highlights the northwest trending crustal scale Thibert Shear Zone as well as easterly and northerly trending cross structures which may be responsible for gold mineralization.
  • Property-wide stream sediment sampling (n = 103) was completed to infill gaps in historical and government RGS sampling.
  • Stream sediment sampling identified highly anomalous streams up to 1535.5 ppb Au (1.53 g/t Au) in the headwaters of two placer bearing streams.
  • Highly anomalous stream sediments (26.9 and 243.3 ppb Au) from an area with no placer production identifies a new area prospective for bedrock hosted gold.
  • The Company is operating under a communications agreement with the Tahltan Central Council and intends to renew the agreement this spring.

“Although Goldrange remains our near-term priority, we are very encouraged by the prospectivity of the Thibert Project. The geological, geochemical, and geophysical signatures of this historical placer camp support our hypothesis that Thibert has the potential to host significant orogenic gold systems. This, coupled with historical placer gold production and anecdotal highlights, increases our confidence in this exciting project.”  Stated Dustin Perry, CEO, who explains the contents of this release in more detail in video format.

The 130 km2 Thibert Project covers an area of significant historical and contemporary placer gold production from Thibert Creek and several tributaries for which the bedrock source has not yet been discovered. The majority of placer production from Thibert and its tributaries occurred in the late 1800’s to early 1900’s with ~200,000 ounces of gold estimated to be produced from Thibert-Dease placer district.

The Thibert Project spans 27 km of strike length along the Thibert Shear Zone – a major crustal scale terrane bounding fault system separating the island arc Quesnel and oceanic Cache Creek Terranes.  The project is prospective for Cretaceous-aged mesozonal orogenic gold mineralization similar to that found within the Juneau Gold Belt in Alaska and the Motherlode District in California. While no bedrock source to the placer gold has been discovered through drilling, records from historical work provide compelling clues that it may be within in the current tenure:

  • Keystone Prospect: in 1931 stripping and open cutting exposed a zone of quartz stringers in quartz porphyry returned 9.1 g/t Au over 12.2 m. This exposure was believed to have been covered by placer workings and has not been exposed since (BC Annual Mines Report, 1931).*
  • Ficklin Prospect: anecdotal reports of prospector Homer Ficklin discovering a 100 lb angular quartz boulder from which he recovered ~60 oz Au (J.E. Wallis, 1989).* 
  • Defot Creek Placer Prospect: reports of multiple gold nuggets over 10 oz and up to 22 oz (BC Annual Mines Report, 1878).*

*Historical results from the Keystone, Ficklin, and Defot Prospects has not been verified by the Company and should not be relied upon. 

Figure 1: Thibert Project location, placer workings, and gold occurrences.

In 2021, 103 stream sediment samples were collected across the Thibert Project (Figure 2). The goal of property-wide geochemical sampling program was to infill gaps within the project not covered by the BC Regional Geochemical Survey or sampling from historical assessment reports. Combined 2021 and historical stream sediment samples total 131 (Table 1).

GOLD (ppb)

All Data (n = 131)2021 Data (n = 103)
Min. Value10.8
Max. Value1535.51535.5
Ave. Value2422.4
Median Value3.83.5
75th %tile7.25
90th %tile12.69.9
95th %tile51.525.4
Table 1: Summary statistics for the 2021 and historical stream geochemistry.

Several new anomalous drainages were identified by the 2021 stream sediment survey. Additionally, some of the anomalous drainages identified by the historical stream sediment surveys are strongly supported by the 2021 survey. The most significant 2021 sample assayed 1535.5 ppb Au and was collected from Defot Creek, a productive placer drainage. This sample was collected in close proximity and slightly down stream from the historical Ficklin Prospect where anecdotal reports describe 60 oz of “spectacular free gold” coming from an angular 100 lb boulder.  This site was located in the pass separating Defot Creek from Porcupine Creek where Homer Ficklin built a cabin and dug trenches in an attempt to locate the source of this boulder in the late 1920s (J.E. Wallis, 1989).  Additionally, BC Annual Mine Reports from several years note the presence of large gold nuggets up to 22 oz in this area. 

Two of the 2021 samples and two of the historical samples draining into Adsit Lake (Figure 2) at the Thibert Project are highly anomalous in Au. The 2021 samples assayed 26.9 and 243.3 ppb Auand are located at Adsit Lake (26.9 ppb Au) and at a drainage located northwest of the lake (243.3 ppb Au).

A 2021 sample collected from a tributary draining into Mosquito Creek (Figure 2), an area of placer production, assayed 47.8 ppb Au. Northeast of Mosquito Creek an anomalous sample was collected that assayed 32.1 ppb Au.

Figure 2: Thibert Project stream geochemistry and magnetic susceptibility.

Precision Geosurvey Ltd. was contracted to fly a heliborne magnetic and radiometric survey during summer 2021 (Figure 3). Lines were flown at a 200 m spacing across the Thibert Project for a total of 688-line km surveyed.

The magnetic survey was successful in providing a structural framework for the 27 km-long project.  The crustal scale Thibert Shear Zone is highlighted by a series of mapped ultramafic intrusions that have exploited the favourable pathway of this terrane bounding fault.  Magnetic anomalies stretch across the length of the project that correlate with mapped ultramafic intrusions.  A large percentage of the project is masked by glacial till and therefore ultramafic intrusions have only been mapped where they outcrop.  The results of the magnetic survey indicate that these favourable host rocks may be more extensive than was previously known.

One significant area of interest outlined in the magnetic survey occurs near the Keystone Prospect where carbonate altered and serpentinized ultramafic rocks have been observed.  This area is located on a significant flexure point within the regional structural trend.  Inflections in structural trends are known to be important locations for orogenic gold mineralization.

Another broad area of interest is the northwestern portion of the project where ultramafic rocks have been mapped but are associated with a subdued magnetic response.  Given the consistency of highly anomalous gold in stream sediment samples, there is potential for a large-scale magnetically destructive alteration system.  Further geophysical analysis and ground truthing will be required to further this target area. 

Figure 3: Thibert Project magnetic susceptibility and geology.

Future Work

The Company continues to analyse data collected in 2021 and is in the process of formulating plans for a field program that will be completed in early fall 2022.  With a previously completed surficial geology map as well as the geochemical and geophysical programs detailed in this news release, the Thibert Project is now ready for more focused exploration work.  The targets that will be the focus of future work include the Adsit Lake area, the Porcupine and Defot drainages, and the Keystone Prospect further down Thibert Creek. 

Future programs will likely include more focused soil and till geochemical programs as well as ground-based geophysical programs.  The objective of these programs will be to further refine targets for initial scout drilling. 

Sampling Protocol

Transported silt often found in side pools and back eddies were targeted for stream sediment samples. Silt was collected from moss matts where no side pool or back eddies were readily accessible. Samples were collected in labelled cloth Hubco bags, which also contained an analytical tag with the sample ID. Stream sediment samples weighing approximately 1000 grams per sample were delivered by Company personnel to Acme Labs located in Vancouver, BC, an ISO9001:2008 accredited laboratory. The stream sediment samples were prepared using the SS80 method by drying them at 60˚C and sieving to less than 180 μm (80 mesh). A 30 gram split of the sieved stream sediment sample was then subjected to a modified aqua regia digestion (1:1:1 HNO3:HCl:H2O) and analyzed for 37 major and trace elements using ICP-ES/MS (method code AQ252).

Qualified Person

Dustin Perry, P.Geo., Kingfisher’s CEO, is the Company’s Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has prepared the technical information presented in this release.

About Kingfisher Metals Corp.

Kingfisher Metals Corp. (https://kingfishermetals.com/) is a Canadian based exploration company focused on underexplored district-scale projects in British Columbia. Kingfisher has three 100% owned district-scale projects that offer potential exposure to high-grade gold, copper, silver, and zinc. The Company currently has 84,673,300 shares outstanding.

For further information, please contact:

Dustin Perry, P.Geo.
CEO and Director
Phone: +1 236 358 0054
E-Mail: info@kingfishermetals.com   

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property. This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: formulation of plans for drill testing; and the success related to any future exploration or development programs.

These forward-looking statements and information reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include; success of the Company’s projects; prices for gold remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company’s projects; capital, decommissioning and reclamation estimates; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour- related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.

The Company cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: risks related to the COVID-19 pandemic; fluctuations in gold prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the U.S. dollar); operational risks and hazards inherent with the business of mineral exploration; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices, including environmental, export and import laws and regulations; legal restrictions relating to mineral exploration; increased competition in the mining industry for equipment and qualified personnel; the availability of additional capital; title matters and the additional risks identified in our filings with Canadian securities regulators on SEDAR in Canada (available at www.sedar.com). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described, or intended. Investors are cautioned against undue reliance on forward-looking statements or information. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.

Kingfisher Expands Cloud Drifter Trend with New Sampling at Langara Zone Grading up to 60.4 G/T Gold

VANCOUVER, British Columbia, March 9, 2022 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) announces assay results from the Langara Zone, part of the Cloud Drifter Trend within the Goldrange Project. Goldrange is located approximately 25 km south of the town of Tatla Lake in the Chilcotin region of Southwest British Columbia.

Highlights

  • Expansion of mineralized footprint to over 400 x 600 m with more than 360 m of vertical extent. 
  • Hand trenching extends high-grade gold mineralization 150 m to the east with the discovery of a ~60 m trend of veins and breccia grading up to 38.6 g/t Au in rock chips and 8.42 g/t Au over 1 m in backpack drilling.
  • Prospecting of the western Langara Zone identified several new mineralized veins with rock chips grading up to 60.4 g/t Au, which doubles 2020 and historical grades from the zone. 
  • An additional undocumented historical adit was located with dump samples grading up to 9.57 g/t Au.
  • The Langara Zone will be drill tested in May to June of 2022.

Dustin Perry, CEO of Kingfisher states “After two years of field work at the Langara Zone, we are now ready to move towards drill testing this exciting target. It’s no surprise that hand mining activities from the 1930s are centered on a major structural intersection that we have outlined with our own mapping. Although prospectors from the 1930s likely did not understand the exploration implications of this structural setting, we believe the geology is highly prospective for the continuation of surface mineralization to significant depths. The Langara Zone is one of the first targets we will test this year with a reverse circulation (RC) drill in late May to early June.

The Langara Zone is located at the eastern extent of Cloud Drifter Trend (Figure 1), a ~3 x 2 km gold anomaly. The Langara target is centered on a diorite intrusion that is part of the Bendor suite, emplaced into sandstone of the Cloud Drifter Formation. Quartz-sulfide veins are focused along northerly lithological contacts and easterly dextral-reverse faults. Hydrothermal breccia bodies lie in structural intersection domains and were the focus of hand mining activities in the 1930s. Previous assay results from 2020 work at Langara can be found in the release dated April 14, 2021.

Figure 1: Cloud Drifter Trend Geochemical Anomaly with Select Highlights

In 2021, two backpack drill holes were completed and 39 grab and rock chip samples were collected at the Langara Zone (see Table 1). A total of 24 rock chip samples and two backpack drill holes were completed at a ~60 m-long trench located 150 m east of the bedrock mineralization sampled in 2020. This trench was discovered by following up on a northeast trending line of highly anomalous soil samples that assayed between 0.66 and 5.76 g/t Au. Hand trenching exposed a continuous trend of veins and breccia that grades up to 38.6 g/t Au, 212.0 g/t Ag, 0.55 % Cu, and 357.8 ppm Te in rock chip samples. Backpack hole BP-LG-21-09 tested veins within the hand trench and returned a highlight interval of 8.42 g/t Au, 49.3 g/t Ag and 115 ppm Te over 1 m.

The remaining rock samples collected in 2021 are located north, northeast, and west of the area of 2020 rock sampling. Prospecting at Langara identified an undocumented historical adit, with dump samples grading up to 9.57 g/t Au, 54.9 g/t Ag, and 8.7 ppm Te. Southwest of this adit, a grab sample grading 60.4 g/t Au, 97.1 g/t Ag, and 0.21% Cu was collected, which doubles the 2020 and historical Au grades from the Langara Zone in rocks.

Au (g/t)Ag (g/t)Cu (%)Te (ppm)
Min. Value0.010.100.3 
Max. Value60.40212.00.55357.8 
Ave. Value8.1740.30.1180.8 
Median Value1.6412.50.064.6 
90th Percentile25.10107.30.33299.7 
Table 1: 2021 rock sample statistics (n = 39)

Since 2020, Kingfisher collected a total of 97 grab samples at the Langara Zone, outlining mineralization over a surface area of more than 400 by 600 m and over 360 m in vertical extent. Grab samples are highly anomalous in gold, silver, copper, and tellurium with maximum assays of 60.4 g/t Au, 1500.1 g/t Ag, 6.77 % Cu and 554.3 ppm Te (Table 2). The Langara surface mineralization coincides with highly anomalous Au-Ag-Sb-Cu-As-Bi-Te soil geochemistry over a ~700 by 1150 m area.

Au (g/t)Ag (g/t)Cu (%)Te (ppm)
Min. Value0.010.10.000.3 
Max. Value60.401500.16.77554.3 
Ave. Value6.8777.10.3798.5 
Median Value3.5723.80.0942.4 
90th Percentile20.20189.61.03300.4 
Table 2: 2020 and 2021 rock sample statistics (n = 97)

Figure 2: Langara Zone gold soil anomaly and 2021 sampled areas

Future Work

The 2022 exploration program will use an RC drill and a diamond drill to follow up on the highly anomalous Au-Ag-Cu-Te surface mineralization discovered at Langara. The goal of the 2022 program is to drill-test the subsurface projection of the northerly and easterly sheeted vein bodies in the central Langara Zone. Drilling will also target the subsurface projection of a hydrothermal breccia body at the southern Langara adit, which lies at the intersection of the two structural trends (Figure 2).

QAQC and Core Sampling Protocols

Backpack drillholes at the Goldrange Project were BQ sized (36.4 mm diameter). A continuous series of one half to one-metre-long full core samples was taken down the entire length of each backpack drill hole. Unlabelled certified reference materials (CRM) were inserted systematically throughout the backpack drillhole sample sequence along with blanks. The total number of blanks, and CRM samples equals approximately 5% of the total samples taken.

Grab and chip rock samples are selective by nature and values reported may not be representative of mineralized zones. Rock and backpack drill core samples were submitted to Acme Labs, a division of Bureau Veritas, located in Vancouver, British Columbia, an ISO9001:2008 accredited laboratory. The samples were prepared using the PRP70-250 method by crushing 1.0 kg of rock to =>70% passing through a 2 mm sieve. Two hundred and fifty grams was then pulverized so that =>85% passes through a less than 75 μm sieve. A 0.25 g split was then subjected to a 4 acid near total digest where the split is heated in a HNO3, HClO4 and HF solution to fuming, dried and then dissolved in HCL. The resulting solution was then analyzed for 45 major and trace elements using ICP-ES/MS (method code MA200). A 30 g split was analyzed for gold using a lead collection fire assay fusion that was then digested and analyzed using AAS (method code FA430).

A 30 g split of samples that assayed >10 ppm gold and/or >200 ppm Ag were analyzed using a lead collection fire assay fusion with a gravimetric finish (method code FA530). Samples that assayed for >200 ppm W, > 4000 ppm Bi, Mo, Sb, >10000 ppm Cu, Pb or Zn were digested using a HNO3, HClO4 and HF solution to fuming, dried and then dissolved in HCL. The resulting solution was then analyzed using ICP-ES (method code MA370). Samples that assayed > 10000 ppm As were digested using a modified aqua regia digestion (1:1:1 HNO3:HCl:H2O) and analyzed using ICP-ES (method code MA370).

Qualified Person

Dustin Perry, P.Geo., Kingfisher’s CEO, is the Company’s Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has prepared the technical information presented in this release.

About Kingfisher Metals Corp.

Kingfisher Metals Corp. (https://kingfishermetals.com/) is a Canadian based exploration company focused on underexplored district-scale projects in British Columbia. Kingfisher has three 100% owned district-scale projects that offer potential exposure to high-grade gold, copper, silver, and zinc. The Company currently has 84,673,300 shares outstanding.

For further information, please contact:

Dustin Perry, P.Geo.
CEO and Director
Phone: +1 236 358 0054
E-Mail: info@kingfishermetals.com   

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property. This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: formulation of plans for drill testing; and the success related to any future exploration or development programs.

These forward-looking statements and information reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include; success of the Company’s projects; prices for gold remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company’s projects; capital, decommissioning and reclamation estimates; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour- related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.

The Company cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: risks related to the COVID-19 pandemic; fluctuations in gold prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the U.S. dollar); operational risks and hazards inherent with the business of mineral exploration; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices, including environmental, export and import laws and regulations; legal restrictions relating to mineral exploration; increased competition in the mining industry for equipment and qualified personnel; the availability of additional capital; title matters and the additional risks identified in our filings with Canadian securities regulators on SEDAR in Canada (available at www.sedar.com). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described, or intended. Investors are cautioned against undue reliance on forward-looking statements or information. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.

Kingfisher Intersects 18.69 G/T Gold over 2 m from 14 m depth at the Cloud Drifter Trend

VANCOUVER, British Columbia, March 2, 2022 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) announces assay results from the remaining seven drill holes from its initial 14-hole (4925.3 m) drill program on the Goldrange Project.  Goldrange is located approximately 25 km south of the town of Tatla Lake in the Chilcotin region of Southwest British Columbia.

Highlights

  • Initial drilling at the Cloud Drifter Trend has outlined a large open-ended mineralizing system highlighted by multiple high-grade structures within a broad halo of anomalous gold mineralization. 
  • To date, less than 10% of the ~3 x 2 km Cloud Drifter Trend has been drill tested with mineralization encountered over 550 m of vertical extent. 
  • Drilling in 2022 will follow up on high-grade structures discovered in 2021 as well as numerous other targets across and beyond the Cloud Drifter Trend including the Standard, Langara, and Day Trip Zones.

The inaugural 2021 drill program targeted a small part (350 m x 600 m) of the western end of the gold-in-soil geochemical anomaly that defines the ~3 by 2 km Cloud Drifter Trend (Figure 1), in an area of extensive forest cover and limited outcrop. Significant intercepts from 7 drill holes are highlighted in Table 1 and Figure 2, more detailed drill hole summaries are given below. Previous assay results from the 2021 drill program can be found in releases dated November 16, 2021 and February 1, 2022.  The results presented in this news release are discussed by Kingfisher’s CEO Dustin Perry and VP Exploration Gayle Febbo in a summary video.

Dustin Perry, CEO of Kingfisher states “The inaugural grassroots drill program at the Cloud Drifter Trend has successfully identified a significant gold system with broadly anomalous gold mineralization surrounding multiple high-grade structures.  Drilling in 2021 tested less than 10% of the Cloud Drifter Trend and was focused in an area of extensive forest cover.  Hitting blind mineralization over a vertical extent of 550 m bodes very well for expanded drilling across the trend in 2022.  This year’s program will follow up on the high-grade structures intercepted in 2021 as well as testing many other exciting targets throughout the highly prospective Cloud Drifter, Standard, Langara, and Day Trip Zones. 

HoleFrom (m)To (m)Interval (m)Au g/tAg g/tCu %
GR21-0045470160.60
incl. 636412.68
and 8091110.44
and 155165100.33
GR21-0059910230.68
and158158.80.81.00
and164176120.30
incl17417511.89
GR21-00610811022.03
and12012330.34
and 16517050.31
GR21-00817517940.80
and 189.920212.10.38
incl. 20120212.190.17
and 21221970.39
and 29129322.52
incl. 29129214.76
and 34835350.36
GR21-009414211.47
and 173183101.22
incl.17517942.620.19
GR21-010101666.7813.20.20
incl.1416218.6935.00.47
incl.1516130.2045.70.29
and 313650.28
and 19519940.42
and 38038111.63
GR21-0114252100.340.10
and15415950.44

*True widths are not known at this time. All widths reported are drilled widths. Values less than 10 g/t Ag and < 0.1% Cu not reported within the highlight table.

Table 1: Highlight drill intercepts from oriented core diamond drilling at the Goldrange project­

Figure 1: Cloud Drifter Trend Geochemical Anomaly with Select Drill Intercepts

Geology and Mineralization of the Cloud Drifter Trend

The Cloud Drifter Trend (Figure 1) is a ~3 by 2 km zone of highly anomalous Au-Ag-Sb-Cu-As-Bi-Te geochemistry that is coincident with quartz-sulfide and sulfosalt veins, sulfide-cement breccias, and quartz-sulfide replacement zones.  In 2020, Kingfishers’ work along the Trend included prospecting that yielded 312 rock geochemical samples yielding an average grade of 6.26 g/t Au and soil sampling which produced an extensive soil geochemical anomaly with 50 samples over 1 g/t Au. 

Mineralization within the Trend and throughout the 487 km2 Goldrange Project is closely associated with and largely hosted by a complex of Late Cretaceous quartz diorite and diorite intrusions emplaced into Triassic to Cretaceous sedimentary and volcanic rocks. 

Figure 2: Cloud Drifter Zone – 2021 Drilling

Descriptions of Drill Holes

­­Drill holes in this release (Figures 3-7) targeted a gold in soil geochemical anomaly in an area with limited surface outcrop exposure and sampling.  All holes collared uphill of the upper contact of the diorite intrusion and a gold in soil geochemical anomaly.  A 15-200 m thick interval of diorite is intersected in all holes with sedimentary siltstone and sandstone in the footwall and hanging wall. Holes GR21-008 and -010 intersected >100 m interval of quartz diorite at depth.  Vein and breccia of quartz-carbonate-arsenopyrite-pyrite ± chalcopyrite ± sphalerite are developed in both sedimentary and intrusive rocks, flanked by pervasive quartz-carbonate-sericite alteration.

Further geological descriptions of drill core and drill collar locations can be found in news releases dated September 2, 2021 and October 6, 2021.

Figure 3: Cross-section of GR21-010 and GR21-007 within 20 m envelop, view north-northeast
Figure 4: Cross-section of GR21-011, GR21-003 and GR21-007 within 20 m envelope, view north-northeast
Figure 5: Cross-section of GR21-005 and GR21-006, view east
Figure 6: Cross-section of GR21-004 and GR21-003 within 20 m envelope, view northeast
Figure 7: Cross-section of GR21-008 and GR21-009, view northeast

Future Work

The Company is currently analysing drill hole data in 3D and determining drill targets for the upcoming 2022 drill campaign.  Planning for the upcoming drill program has begun and a diamond drill rig and RAB drill rig have been contracted.  It is anticipated that drilling will begin by mid May 2022. 

QAQC and Core Sampling Protocols

All drillholes at the Goldrange property were NQ sized (47.6 mm diameter). A continuous series of one-metre-long half-split core samples was taken down the entire length of each drill hole. Sample lengths were reduced to a minimum of half a meter to avoid crossing lithologic contacts or other features deemed important by Kingfisher geologists.

Unlabelled certified reference materials (CRM) were inserted systematically throughout the sample sequence along with blanks and duplicate samples. The total number of blanks, duplicates and CRM samples equals approximately 5% of the total samples taken.

Core samples were shipped to Acme Labs, a division of Bureau Veritas, located in Vancouver, British Columbia, for preparation and analysis.  Bureau Veritas is an ISO 9000 accredited analytical laboratory and is independent of Kingfisher Metals an its Qualified Person. Samples were prepped using the PRP7-250, PUL85 and SPTPL packages and analysed for 45 major and trace elements using ICP-ES/MS (method code MA200). A 30 g split from each sample was analyzed for Au using a lead collection fire assay fusion that was digested and analyzed using AAS (method code FA430). A 30g split from samples that assayed >10 ppm Au and/or >200 ppm Ag was analyzed using a lead collection fire assay fusion with a gravimetric finish (method code FA530).

Qualified Person

Dustin Perry, P.Geo., Kingfisher’s CEO, is the Company’s Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has prepared the technical information presented in this release.

About Kingfisher Metals Corp.

Kingfisher Metals Corp. (https://kingfishermetals.com/) is a Canadian based exploration company focused on underexplored district-scale projects in British Columbia. Kingfisher has three 100% owned district-scale projects that offer potential exposure to high-grade gold, copper, silver, and zinc. The Company currently has 84,673,300 shares outstanding.

For further information, please contact:

Dustin Perry, P.Geo.
CEO and Director
Phone: +1 236 358 0054
E-Mail: info@kingfishermetals.com   

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property. This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: formulation of plans for drill testing; and the success related to any future exploration or development programs.

These forward-looking statements and information reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include; success of the Company’s projects; prices for gold remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company’s projects; capital, decommissioning and reclamation estimates; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour- related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.

The Company cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: risks related to the COVID-19 pandemic; fluctuations in gold prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the U.S. dollar); operational risks and hazards inherent with the business of mineral exploration; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices, including environmental, export and import laws and regulations; legal restrictions relating to mineral exploration; increased competition in the mining industry for equipment and qualified personnel; the availability of additional capital; title matters and the additional risks identified in our filings with Canadian securities regulators on SEDAR in Canada (available at www.sedar.com). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described, or intended. Investors are cautioned against undue reliance on forward-looking statements or information. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.