Kingfisher Provides Update on Diamond Drilling and Regional Exploration at the Goldrange Project

VANCOUVER, British Columbia, August 9, 2021 – Kingfisher Metals Corp. (TSX-V: KFR, FSE: 970) (“Kingfisher” or the “Company”) is pleased to provide an update on diamond drilling and regional exploration at the Goldrange Project as the Company awaits analytical results. Goldrange is located approximately 25 km south of the town of Tatla Lake in Southwest British Columbia.

The maiden diamond drill program consists of approximately 5,000 m over ~15 holes.  Diamond drilling is testing the Cloud Drifter Trend which is defined by a 3 km long gold-in-soil anomaly including 50 samples over 1 g/t Au and rock samples grading up to 128.9 g/t Au.  Outside of the Cloud Drifter Trend, regional exploration consisting of rock, stream, and soil sampling is being completed across the 367 km2 project.  To date, 4 drill holes have been completed totalling 1,258 m.

Highlights

  • Drilling has encountered widespread zones of quartz-carbonate-sulfide veins, quartz-carbonate-sulfide breccias, and disseminated sulfides within all drill holes completed to date.
  • Sulfide mineralogy includes arsenopyrite, pyrite, marcasite, chalcopyrite, pyrrhotite, sphalerite, boulangerite, stibnite, tennantite-tetrahedrite, and molybdenite.
  • Ongoing regional exploration has collected 2,365 soil samples and 217 rock samples across the tenure with multiple arsenic anomalies identified.

Dustin Perry, CEO of Kingfisher states “Drilling to date has furthered our belief that the Cloud Drifter Trend may host a significant hydrothermal vein system. All drill holes completed to date have intersected widespread quartz-carbonate-sulfide veins, breccias and disseminated sulfides over 300 m of strike and ~430 m of vertical extent.  Diamond drilling has collaborated the styles of mineralization and alteration identified on surface in 2020. Outside of the Cloud Drifter Trend, regional grassroots exploration has been moving at an efficient pace and has outlined several areas of arsenic anomalism in soils identified with a portable XRF.  Initial prospecting has identified quartz-sulfide veins at several of these locations.”

The Goldrange Project covers a significant deformation zone with numerous precious metal veins across the project.  Mineralization at Goldrange occurs within the orogenic Yalakom Gold Belt, which is host to the Bridge River District that includes the past producing Bralorne Mine. Several areas of historical hand mining are located within the project and date back to the 1930s.

Diamond Drilling Update

Diamond drilling at the Cloud Drifter Trend has been completed over 4 drill holes totalling 1,258 m (table 1). Figure 1 outlines the drilling progress to date and remaining planned holes.

Planned Drillhole IDEasting (UTM NAD83)Northing (UTM NAD83)Elevation (masl)Depth (m)AziDip
GR21-00138836457053161863218341-45
GR21-00238836457053161863482341-64
GR21-00338854457055321717272342-50
GR21-00438854457055321717286320-64
Table 1: 2021 Cloud Drifter Drill Collars

GR21-001 and GR21-002

The initial two drill holes at the Cloud Drifter Trend were collared from the same drill pad above a thrust fault deformation zone west of the main Cloud Drifter soil anomaly. Field work in 2020 at this location identified an array of east-dipping quartz-carbonate-sulfide veins and quartz-carbonate-sulfide breccia.

GR21-001 (341/-45) intersected a sequence of porphyritic andesite, volcaniclastic conglomerate and siltstone. The upper 44 m intersected the brittle deformation zone with poor recovery and highly oxidized rock. The deformation zone is characterized by abundant Fe-oxide minerals in and near quartz-carbonate veins, interpreted to reflect oxidized sulfide minerals. Intervals of Fe-oxide are associated with high arsenic values (1000 – >10,000 ppm As) identified by a portable XRF* device. Discreet zones of brecciation were encountered throughout the drill hole, associated with pervasive quartz-carbonate alteration and bleaching. Pyrite, arsenopyrite, chalcopyrite, sphalerite, pyrrhotite, and molybdenite were most commonly associated with the brecciated and bleached zones. The drill hole was lost at a final depth of 218 m in what is interpreted to be the principle thrust fault of the deformation zone.

GR21-002 (341/-64) intersected an upper sequence of porphyritic andesite, volcaniclastic conglomerate and siltstone to a depth of 261.1 m. The upper 39 m intersected the brittle deformation zone with poor recovery and highly oxidized rock. The deformation zone is characterized by abundant Fe-oxide minerals in and near quartz-carbonate veins, interpreted to reflect oxidized sulfide minerals. Intervals of Fe-oxide are associated with high arsenic values (1000 – >10,000 ppm As) identified by a portable XRF* device. 

Below this sequence are biotite-amphibole quartz diorite and amphibole-pyroxene diorite that were intersected to a depth of 436.3 m, beneath which siltstone was cored to the end of the drill hole. Discreet zones of brecciation were encountered throughout, associated with pervasive quartz-carbonate alteration and bleaching. Zoned chlorite-epidote and biotite hornfels were present at the upper contact between the sedimentary and intrusive rocks.   Pyrite, arsenopyrite, chalcopyrite, sphalerite, pyrrhotite, arsenopyrite, and molybdenite were identified within brecciated and bleached intervals in the upper volcanic-sedimentary sequence as well as quartz-carbonate veins in the intrusions. GR21-002 was terminated at a final depth of 482 m.

GR21-003 and GR21-004

The first drill holes designed to test the broad gold-in-soil anomaly at the Cloud Drifter Trend were collared from the same pad upslope of an area of mineralization outlined in 2020.  2020 sampling in this area returned a channel sample grading 2.08 g/t Au over 6 m as well as highlight grab sample up to 53.9 g/t Au.

GR21-003 (341/-50) intersected an upper sequence of biotite hornfels-altered volcaniclastic siltstone, sandstone and conglomerate to a depth of 49.8 m.  Within the upper sequence, the top 30 m consisted of highly fractured and oxidized rock with poor recovery.  The deformation zone is characterized by abundant Fe-oxide minerals in and near quartz-carbonate veins, interpreted to reflect oxidized sulfide minerals. Intervals of Fe-oxide are associated with high arsenic values (1000 – >10,000 ppm As) identified by a portable XRF* device. 

Below the sedimentary rocks, drilling intersected biotite-amphibole quartz diorite and amphibole-pyroxene diorite to 183.4 m, below which siltstone was cored to the end of hole. Pervasive quartz-carbonate-sericite±chlorite alteration is spatially associated with quartz-carbonate-sulfide veins. Pyrite, arsenopyrite, chalcopyrite, marcasite, stibnite, boulangerite, tetrahedrite-tennantite, sphalerite and pyrrhotite were identified within and proximal to quartz-carbonate veins. Vein textures include open space growth, local quartz-carbonate-cement breccia, laminated and shear-banded. GR21-003 was terminated at a final depth of 272 m.

GR21-004 (320/-64) was drilled down dip from GR21-003 and slightly to the west.  Drill core logging has not been completed at the time of this news release.

The 2021 diamond drill program is guided by detailed surface geochemical and structural data collected in 2020 in addition to the 2021 IP geophysical survey.  Initial drilling is focused on a ~500 m segment of the Cloud Drifter Trend, within the Cloud Drifter Zone, and is defined by the best bedrock exposure and geological confidence.  Initial results from the IP geophysical survey indicate the presence of strong chargeability anomalies associated with high-tenor soil geochemical anomalies, strongly anomalous rock chip samples, and mapped mineralization at surface. Analytical results will be released as they become available.

Figure 1: Cloud Drifter Zone – Drill Update

Regional Exploration Update

Regional exploration at Goldrange is ongoing and has been completed across the length of the project (figure 2).  As of the time of this news release, 2,356 soil and talus fine samples have been completed, primarily on grassroots targets.  Additionally, 217 rock samples and 7 stream sediment samples have been collected.  Backpack drilling has been completed over 13 holes for a total of 37.61 m. 

Samples have been analysed daily with a portable XRF* and numerous zones of anomalous As, Sb, Zn, Pb, and Cu have been identified.  Infill sampling has been completed at several of these zones.  Prospecting within several of these zones has identified areas of quartz-sulfide veining. Analytical results will be released as they become available.

Figure 2: Goldrange Project – Regional Exploration Update

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 78,747,101 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.

*Readers are cautioned that Portable XRF (X-Ray Fluorescence) spot analyses are not equivalent to laboratory assays; they simply give an indication of the presence of certain metal elements in the drill core. Spot analyses referenced here were collected using an Olympus Vanta XRF Analyzer, which cannot reliably detect Gold, but does detect the geochemical pathfinder elements such as Arsenic, Bismuth, Copper, Antimony, Molybdenum, Lead, and Zinc that are commonly associated with Gold. Assay results are pending.

Kingfisher Begins Diamond Drilling at the Goldrange Project to Test the Cloud Drifter Trend

VANCOUVER, British Columbia, July 7, 2021 – Kingfisher Metals Corp. (TSX-V: KFR, FSE: 970) (“Kingfisher” or the “Company”) is pleased to announce the commencement of drilling at the Goldrange Project, located approximately 25 km south of the town of Tatla Lake in Southwest British Columbia.  The maiden diamond drill program will consist of approximately 5,000 meters over ~15 holes.  Diamond drilling will test the Cloud Drifter Trend which is defined by a 3 km long gold-in-soil anomaly including 50 samples over 1 g/t Au and rock samples grading up to 128.9 g/t Au.

The previously announced induced polarization (IP) geophysical survey at the Goldrange Project is currently underway and surveying to date has highlighted several chargeability and resistivity anomalies throughout the trend.  Incoming IP geophysical data is being used for drill targeting and the final results of this survey will be communicated to the market once the survey and analysis is completed.

Dustin Perry, CEO of Kingfisher states “We are thrilled to begin drill testing this exciting epizonal gold target. Since beginning our 2021 field program at the Goldrange Project in early May, we have made significant progress on our regional programs in addition to completing initial drill pad construction and IP geophysical surveying at the Cloud Drifter Trend.  Initial IP geophysical data has highlighted several chargeability anomalies coincident with mapped zones of quartz-sulfide vein swarms and high tenor gold-in-soil geochemical anomalies.  This provides additional confidence in our drill targeting within the prospective Cloud Drifter Trend.”

The Goldrange Project covers a significant deformation zone with numerous precious metal veins across the project.  Mineralization at Goldrange occurs within the orogenic Yalakom Gold Belt, which is host to the Bridge River District that includes the past producing Bralorne Mine. Several areas of historical hand mining are located within the project and date back to the 1930s.

Initial work completed by Kingfisher in 2020 included infill and confirmation soil sampling within the Cloud Drifter Trend.  The 2020 survey (see March 31, 2021  release) outlined a 3 km-long gold-in-soil anomaly with 134 samples over 0.5 g/t Au and 50 samples over 1 g/t Au with a highlight of 22.08 g/t Au.  Rock sampling returned highly anomalous gold grades with 312 samples (see April 14, 2021 release) averaging 6.26 g/t Au and a highlight of 128.9 g/t Au.  Backpack drilling within the Cloud Drifter Trend included highlights of 6.9 m of 10.84 g/t Au (BP-ST-20-01) (see April 21, 2021 release) and 8.3 m of 0.97 g/t Au (BP-CD-20-02) separated by ~750 m.  Plan view maps of the initial planned drill holes at the Cloud Drifter Trend are outlined in figures 1 and 2 below.

Figure 1: Cloud Drifter Trend: Initial Planned Diamond Drill Holes
Figure 2: Cloud Drifter Zone: Initial Planned Diamond Drill Holes

Geological mapping by VP-Exploration Gayle Febbo, outlined a robust structurally hosted vein system with multiple styles and phases of quartz-sulfide mineralization within sedimentary, volcanic, and intrusive rocks (figure 3).  Additionally, Kingfisher completed a high-resolution airborne magnetic and radiometric survey over the Cloud Drifter Trend.  Prior to the 2021 field season, the Company prepared a 3D geological and structural model for the Cloud Drifter Trend. 

Figure 3: Cloud Drifter Zone Geology: Initial Planned Diamond Drill Holes

The 2021 diamond drill program is guided by detailed surface geochemical and structural data collected in 2020 in addition to the ongoing IP geophysical survey.  Initial drilling is focused on a ~500 m segment of the Cloud Drifter Trend, within the Cloud Drifter Zone, and is defined by the best bedrock exposure and geological confidence.  Initial results from the IP geophysical survey indicate the presence of strong chargeability anomalies associated with high-tenor soil geochemical anomalies, strongly anomalous rock chip samples, and mapped mineralization at surface. 

A more detailed explanation of the planned initial drill holes at the Cloud Drifter Trend, including geological and geophysical cross sections can be found on Kingfisher’s website: Drill Target Presentation.

Additionally, Dustin Perry, CEO and Gayle Febbo, VP-Ex discuss the planned program in video format on Kingfisher’s YouTube channel: Goldrange: Maiden Drill Program Target Selection.

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 78,335,301 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

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 Metals Announces Closing of $4.6 Million Private Placement Financing

VANCOUVER, British Columbia, June 3, 2021 – Kingfisher Metals Corp. (TSX-V: KFR) (“Kingfisher” or the “Company”) is pleased to announce the closing of its upsized marketed best efforts private placement for aggregate gross proceeds of C$4.6 million (the “Offering”). The Offering was led by PI Financial Corp. (the “Agent”) as sole bookrunner.

The Offering was comprised of (i) 5,450,000 charity flow-through units (the “Charity FT Units”) at a price of C$0.63 per Charity FT Unit for gross proceeds ofC$3.4 million; and (ii) 2,437,000 flow-through units (the “FT Units”) at a price of C$0.51 per FT Unit for gross proceeds of C$1.2 million.

As previously announced, each Charity FT Unit consists of one charity flow-through common share and one half of one transferable non-flow-through common share purchase warrant (each whole such common share purchase warrant, a “Warrant”). Each FT Unit consists of one flow-through common share and one half of one transferable non-flow-through common share purchase Warrant. Each Warrant shall be exercisable into one additional non-flow-through common share of the Company for 24 months at an exercise price of C$0.70.

The net proceeds raised from the Charity FT Units and FT Units will be used by the Company to incur eligible Canadian exploration expenses that will qualify as “flow-through mining expenditures” as such terms are defined in the Income Tax Act (Canada) related to the Company’s projects before 2023.

In connection with the Offering, the Agent received an aggregate cash fee equal to 7.0% of the gross proceeds from the Offering, other than to certain purchasers identified by the Company to the Agent in which case a cash fee of 2% was paid. In addition, the Company issued to the Agent 529,334 non-transferable compensation warrants (the “Compensation Warrants”). Each Compensation Warrant will entitle the holder thereof to purchase one common share at an exercise price equal to $0.51 for a period of 24 months following the closing of the Offering.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Dustin Perry, CEO, stated “The proceeds of this financing will immediately go to work in funding our 2021 exploration campaign which is underway.  Our exploration team is filled with excitement as we embark on the inaugural drilling campaign at the highly prospective Cloud Drifter Trend.”

The securities issued pursuant to the Offering will be subject to a four-month and one day hold period under applicable securities laws in Canada.

Closing of the Offering is subject to final approval by the TSX Venture Exchange.

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 77,782,801 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.

Disclaimer and Forward-Looking Information

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: use of proceeds of the Offering, the incurrence of eligible Canadian exploration expenses that will qualify as “flow-through mining expenditures”, and the Company’s exploration plans and strategies. 

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 Reports Q1 2021 Results

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Vancouver, B.C. – May 31, 2021 – Kingfisher Metals Corp. (TSX-V: KFR and FSE: 970) (“Kingfisher” or the “Company”) is pleased to report the filing of its first quarter results for the interim period ending March 31, 2021. Highlights over the period include:

  • On March 12, 2021, the Company completed its acquisition of all the issued and outstanding shares of Kingfisher Resources Ltd. and a concurrent financing totaling $6,030,000.
  • On March 18, 2021, the Company commenced trading on the TSX Venture Exchange under the symbol “KFR”.
  • The Company’s shares were accepted for listing on the Frankfurt Stock Exchange and commenced trading on March 25, 2021 under the symbol “970”.
  • On March 31, 2021, Kingfisher announced initial results from the 2020 exploration program at its 100% owned Goldrange Project, located in Southwestern B.C. Initial soil sampling returned highly anomalous gold grades up to 22.08 g/t Au with 30 samples over 1 g/t Au.
  • At March 31, 2021, the Company had C$5,949,772 (December 31, 2020: C$116,735) in cash and cash equivalents and C$5,820,392 (December 31, 2020: C$84,879) in working capital. The Company also has no debt.

Kingfisher continues to manage its costs and allocate the necessary resources towards its upcoming exploration programs at its Goldrange, Ecstall, and Thibert properties in order to maximize value for its shareholders.

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 69,895,801 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

Statements contained in this release that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of Kingfisher. In making the forward-looking statements, Kingfisher has applied certain assumptions that are based on information available, including Kingfisher’s strategic plan for the near and mid-term. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Kingfisher does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Kingfisher Strengthens Advisory Board with the Addition of Charlie Greig

Vancouver, B.C. – May 26, 2021 – Kingfisher Metals Corp. (TSX-V: KFR and FSE: 970) (“Kingfisher” or the “Company”) is pleased to announce the appointment of Charlie Greig to the Company’s Technical Advisory Board, effective immediately.  Mr. Greig has joined the team with the objective of providing technical guidance on Kingfisher’s 100% owned district-scale projects in British Columbia. Kingfisher’s Technical Advisory Board now consists of Greg Liller, Jim Miller-Tait, Zach Flood, Francis MacDonald and Charlie Greig.

Kingfisher CEO Dustin Perry stated, “We are very pleased to welcome Charlie to our technical team.  He has a long-standing track record for exploration success within British Columbia and adds another strong vote of confidence for the highly prospective projects that Kingfisher is exploring.” 

Charlie Greig, VP-Exploration for recently acquired GT Gold stated, “I’m very pleased to join Kingfisher in an advisory role. I was an early investor with Dustin and Dave, having recognized their drive and determination, and have been further encouraged with the addition of Gayle Febbo to their team. With all that energy, an exciting property portfolio with excellent drill targets, and with a recently completed financing, I look forward to what the field season brings.” 

About Mr. Greig

Charlie Greig is a geologist with forty years of geological experience, mainly in the exploration industry. He has worked on exploration projects, mainly as a mapper, ranging from grassroots to development. Charlie has mapped, or worked on, several projects which have subsequently been taken to production, including La India in Mexico (Grayd–Agnico Eagle), Wolverine in Yukon (Atna-Westmin, Yukon Zinc), Alamo Dorado in Mexico (Corner Bay-Pan American Silver), Bisha (Nevsun) and Emba Derho (Sunridge Gold) in Eritrea, and Brucejack (Pretivm) in B.C. He has also worked on a number of other advanced exploration projects including Asmara (Adi Nefas, and Debarwa, for Sunridge Gold), Red Mountain (Lac Minerals, Seabridge, IDM, Ascot), Casino (Western Copper and Gold), Silbak Premier-Big Missouri (Westmin, Ascot Resources), and the recently discovered Saddle North porphyry Cu-Au and Saddle South epithermal Au-Ag zones for GT Gold, for which he was awarded the 2020 H.H. “Spud” Huestis Award, by AME (the Association for Mineral Exploration of British Columbia) for significant contributions to enhancing the mineral resources of BC and the Yukon Territory.

Kingfisher also announces the grant of 360,000 stock options exercisable for a period of five years at a price of C$0.55 per share to various consultants, which is part of Kingfisher’s strategy to attract and retain talent. The options will be subject to deferred vesting over one year.

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 69,895,801 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

Statements contained in this release that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of Kingfisher. In making the forward-looking statements, Kingfisher has applied certain assumptions that are based on information available, including Kingfisher’s strategic plan for the near and mid-term. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Kingfisher does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Kingfisher Samples up to 20.1 G/T Gold in Rock and 8.4 G/T Gold in Talus Fines from New Discovery

Vancouver, B.C. – May 13, 2021 – Kingfisher Metals Corp. (TSX-V: KFR, FSE: 970) (“Kingfisher” or the “Company”) is pleased to announce sampling results from the newly discovered Day Trip Zone which is located ~3.5km southeast of the Cloud Drifter Trend on the Goldrange Project.  The Goldrange Project is located approximately 25 km south of the town of Tatla Lake with logging road access to the north end of the 367 km2 project. 

Highlights

  • Discovery of a 90 x 70 m zone of extensive gold bearing sulfide-cement breccias in float with grades up to 20.1 g/t Au.
  • Discovery of sheeted quartz-sulfide veins up to 6.7 g/t Au in outcrop.
  • Open-ended talus fines anomaly up to 8.4 g/t Au.
  • Identification of a previously unrecognized intrusive-hosted orogenic gold system similar in style and scale to the Cloud Drifter Trend.

“The Day Trip Zone was discovered over a 3-day trip last summer when David Loretto, Kingfisher’s President, and I camped in the alpine to try and explain a conspicuous gossan we had seen from the air.  The discovery of this new zone of high-grade gold mineralization ~3.5 km away from the nearest sample at the Cloud Drifter Trend highlights the regional prospectivity of the Goldrange Project.” Stated Dustin Perry, CEO.

The Goldrange Project covers a significant deformation zone with numerous precious metal veins across the project.  Mineralization at Goldrange occurs as orogenic gold and intrusion-related gold systems.  Several areas of historical hand mining are located within the project and date back to the 1930s.

The Day Trip Zone was discovered by prospecting a gossan formed from hornfels alteration of sedimentary rocks intruded by a Bendor Suite monzonite intrusion.  The area is situated on flat to low angled slopes on a mountain approximately 3.5km to the southeast of the nearest samples within the Cloud Drifter Trend in an area with no documented historical exploration.

Ridgetop talus fine sampling (85 samples) revealed an area over 500 m long of high-contrast gold anomalism (figure 1) with coincident anomalous Ag, As, Sb, Cu, Bi, Hg, Te, and W.  Talus fine sampling includes values from below detection limit to 8386.2 ppb Au (8.4 g/t Au) with 2 samples over 1 g/t Au and 9 samples over 0.5 g/t Au. 

Figure 1: 2020 Talus Fine Samples

Rock sampling (figure 2) at the Day Trip Zone outlined a 90 x 70 m zone of arsenopyrite-cement breccia interpreted to be subcrop.  The zone is located on an alpine plateau where transport of the material is unlikely.  Within the area of anomalous gold in talus fines, sulfide-cemented breccia rubble comprises ~20% of all rock in the area.  Subcrop material of sulfide-cemented breccia are up to 1m in length and 40 cm wide.  This zone of sulfide mineralisation is highly anomalous in gold with grades from 3.4 g/t Au up to 20.1 g/t Au with coincident highly anomalous pathfinders (Ag, As, Sb, Cu, Bi, Te, Zn, and W). 

To the west and slightly down slope of the area of sulfide-cement breccia is an area of intrusive-hosted sheeted quartz veins.  Quartz veins textures are indicative of a high-level epizonal setting and are up to 2m wide.  Within this area, samples range from below detection limit to 6.7 g/t Au.  The area has limited outcrop exposure with extensive quartz vein subcrop, potentially indicating that veins are more common than seen in outcrop.  Additionally, a float sample of sulfide-cement breccia occurs downslope of this area and returned 18.2 g/t Au and potentially indicates a second breccia body to the west.

Figure 2: 2020 Rock Samples

Geological mapping of the Day Trip Zone revealed a similar geological and structural setting (figure 3) to the Cloud Drifter Trend.  A Bendor Suite monzonite intruded Cloud Drifter Formation sedimentary rocks which overlaps with a regional-scale dextral faulting event which is associated with gold mineralization within the Yalakom Gold Belt.

A more detailed presentation of the results included with this release can be found on the Company’s website: Day Trip 2020 Rock and Talus Sampling Results.  Additionally, Dustin Perry and Gayle Febbo discuss the presentation in more detail: Goldrange: Day Trip 2020 Rock and Talus Sampling Results – YouTube.

Figure 3: Geology

Quality Assurance and Quality Control

Soil samples weighing approximately 250 grams per sample were delivered by company personnel to Acme Labs, a division of Bureau Veritas, located in Vancouver, BC, an ISO9001:2008 accredited laboratory.  The soil 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 soil 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). Field duplicates were collected and submitted every 40 samples.

Rock samples were submitted to Acme Labs, a division of Bureau Veritas, located in Vancouver, BC, an ISO9001:2008 accredited laboratory. The rocks 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 >10ppm gold and/or >200ppm Ag were analyzed using a lead collection fire assay fusion with a gravimetric finish (method code FA530). Samples that assayed for >200 ppm W, > 4000ppm 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 68,945,801 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

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 Metals Announces Upsize of Private Placement Financing to $4.6 Million

VANCOUVER, British Columbia, May 10, 2021 – Kingfisher Metals Corp. (TSX-V: KFR) (“Kingfisher” or the “Company”) is pleased to announce that the Company has entered into an agreement with PI Financial Corp. (“PI Financial”) as sole bookrunner, to increase the size of the previously announced marketed best efforts private placement from C$4.0 million to up to approximately C$4.6 million (the “Offering”).

Pursuant to the amended terms, the Offering will now consist of (i) up to 5,450,000 charity flow-through units (the “Charity FT Units”) at a price of C$0.63 per Charity FT Unit for gross proceeds of up to approximately C$3.43 million; and (ii) up to 2,437,000 flow-through units (the “FT Units”) at a price of C$0.51 per FT Unit for gross proceeds of up to approximately C$1.24 million.

The aggregate gross proceeds raised from the Charity FT Units and FT Units will be used before 2023 for general exploration expenditures, which will constitute Canadian exploration expenses (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”)), that will qualify as “flow through mining expenditures” within the meaning of the Tax Act.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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 68,945,801 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.

Disclaimer and Forward-Looking Information

Statements contained in this release that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of Kingfisher. In making the forward-looking statements, Kingfisher has applied certain assumptions that are based on information available, including Kingfisher’s strategic plan for the near and mid-term. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Kingfisher does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Kingfisher Receives Drill Permit and Provides Corporate Update

Vancouver, B.C. – May 4, 2021 – Kingfisher Metals Corp. (TSX-V: KFR, FSE: 970) (“Kingfisher” or the “Company”) is pleased to announce its plans for the 2021 exploration season on its three 100% owned projects in British Columbia.

The Company has been informed that its Notice of Work Application for a 5-year drill permit at its Goldrange Project in southwest British Columbia has been approved.  The Goldrange Project is located approximately 25km south of the town of Tatla Lake with logging road access to the north end of the 367km2 project. 

The multiyear area based (MYAB) permit for the Goldrange Project includes diamond drilling from 20 drill pads and induced polarization (IP) geophysical surveys in year one. 

The proposed exploration program at the Goldrange Project will include 5000m of diamond drilling, IP surveys, and detailed regional exploration across the 367km2 project.  The Company has contracted Omineca Diamond Drilling to complete the drill program which will begin in early July with the proposed program totalling ~$3.3 million.  Camp construction, regional field work, and IP geophysics are expected to commence in May.

The 284km2 Ecstall Project is located at tidewater, 60km northwest of the resource town of Kitimat, B.C.  The Company will undertake a property-wide LiDAR survey in addition to detailed gravity geophysical surveys over high-priority Cu-Au VMS targets in preparation for drilling in 2022. The proposed program totals ~$0.4 million and is expected to commence in mid-July.

The 124km2 Thibert Project is located 40km north of Dease Lake, B.C.  The project covers 25km of strike length of the crustal-scale Teslin-Thibert Fault where approximately 200,000 oz of placer gold has been produced.  The Company has contracted Precision GeoSurveys to complete property-wide airborne magnetics and radiometrics at Thibert.  Additionally, detailed stream-sediment sampling will be completed across the project area aimed at refining orogenic gold targets for more advanced exploration in 2022.  The proposed program totals ~$0.3 million and is expected to commence in June or July.

“2021 is going to be a very exciting year for Kingfisher as we advance all three of our 100% owned projects.  We are very excited to complete the first-ever diamond drill program on the Goldrange Project which will test the highly prospective Cloud Drifter Trend.  Additionally, we will be completing detailed regional exploration across the district-scale project.  While this is happening, we will be further advancing our Ecstall and Thibert Projects and continuing to deliver value to our shareholders.” Stated Dustin Perry, CEO.

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 68,945,801 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

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 Metals Announces $4.0 Million Private Placement Financing

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISEMMINATION IN THE UNITED STATES

Vancouver, B.C. – April, 27, 2021 – Kingfisher Metals Corp. (TSX-V: KFR) (“Kingfisher” or the “Company”) is pleased to announce that the Company has entered into an agreement with PI Financial Corp.  (“PI Financial”) as sole bookrunner, in connection with a marketed best efforts private placement of up to 4,760,000 charity flow-through units (the “Charity FT Units”) and 1,965,000 flow-through units (the “FT Units”) of the Company to raise aggregate gross proceeds of up to approximately C$4.0 million.

The Charity FT Units will be offered by way of a best efforts private placement pursuant to exemptions from the prospectus requirements to residents of the Provinces of British Columbia, Alberta, Saskatchewan, Ontario, Quebec, and such other Canadian jurisdictions as may be agreed to by the Company and PI Financial, at a price of C$0.63 per Charity FT Unit. Each Charity FT Unit shall consist of one charity flow-through common share and one half of one transferable non-flow-through common share purchase warrant (each whole such common share purchase warrant, a “Warrant”).

The FT Units will be offered by way of a best efforts private placement pursuant to exemptions from the prospectus requirements to residents of the Provinces of British Columbia, Alberta, Saskatchewan, Ontario, Quebec, and such other Canadian jurisdictions as may be agreed to by the Company and PI Financial, at a price of C$0.51 per FT Unit. Each FT Unit shall consist of one flow-through common share and one half of one transferable non-flow-through common share purchase Warrant.

Each Warrant shall be exercisable into one additional non-flow-through common share of the Company for 24 months from the Closing Date at an exercise price of C$0.70.

The aggregate gross proceeds raised from the Charity FT Units and FT Units will be used before 2023 for general exploration expenditures which will constitute Canadian exploration expenses (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”)), that will qualify as “flow through mining expenditures” within the meaning of the Tax Act.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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 68,945,801 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.

Disclaimer and Forward-Looking Information

Statements contained in this release that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of KFR. In making the forward-looking statements, KFR has applied certain assumptions that are based on information available, including KFR’s strategic plan for the near and mid-term. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. KFR does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Kingfisher Samples 10.84 G/T Gold over 6.90 m at Goldrange

Vancouver, B.C. – April 21, 2021 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE:970) (“Kingfisher” or the “Company”) is pleased to announce rock sampling and backpack drilling results from the 2020 exploration program at its 100% owned Goldrange Project, located in southwestern British Columbia.  The Goldrange Project is located approximately 25km south of the town of Tatla Lake with logging road access to the north end of the 367km2 project. 

Highlights

  • Backpack drilling of 10.84 g/t Au over 6.9 m from surface.
  • 33 rock samples with an average grade of 11.64 g/t Au and a median grade of 4.73 g/t Au.
  • 8 rock samples over 10 g/t Au with highlights of 82.10 g/t Au, 63.90 g/t Au, 40.40 g/t Au, and 31.80 g/t Au.

“The results from our Cloud Drifter Trend continue to impress us.  Our 2020 work has now returned 312 rock samples averaging 6.26 g/t Au.  Additionally, it is very encouraging to see good grades over significant widths from surface in backpack drilling. We are very excited to put the first diamond drill holes into the Cloud Drifter Trend this summer.” Stated CEO, Dustin Perry.

“In just a handful of field days our exploration team discovered two new gold showings and collected outstanding results from the Standard Zone. These time-efficient products are a testament to our hard working, results-driven team. This new mineralization style provides us with a key vector for analogous focused gold corridors within the Cloud Drifter Trend.”  Stated VP Exploration, Gayle Febbo. 

The Goldrange Project covers a significant deformation zone with numerous precious metal veins across the project.  Mineralization at Goldrange occurs as orogenic gold of similar age of the Bridge River camp, part of the Yalakom Gold Belt.  Several areas of historical hand mining are located within the project and date back to the 1930s.

The 2020 exploration program was focused on defining drill targets at the Cloud Drifter Trend as well as evaluating the potential of several historically sampled mineralized zones on the project. 

The Cloud Drifter Trend is a band of several historical zones of mineralization tied together by a highly anomalous Au-Ag-As-Sb-Cu-Bi-Te soil anomaly with grades up to 22.08 g/t Au (see March 31, 2021 release).  Limited historical rock sampling was completed within the highest strength geochemical anomaly at the Cloud Drifter Zone and was the focus of 2020 work.

Previously released rock sampling at the Cloud Drifter Trend outlined 279 rock samples grading up to 128.90 g/t Au and averaging 5.62 g/t Au (see April 14, 2021 release). 

The current release includes 33 rock samples (figure 1) and one backpack drill hole totalling 9.60m.  Rock chip sampling returned grades from 0.03 g/t Au to 82.1 g/t Au with an average grade of 11.64 g/t Au (table 1).  Rock grab samples are selective in nature and cannot be considered as representative of the underlying mineralization.  Backpack drilling returned 10.84 g/t Au over 6.90m from surface at the Standard Zone.

 

Figure 1: Cloud Drifter Trend 2020 Rock Samples
  Au g/t Ag g/t Cu %
# Samples 33 33 33
Minimum Value 0.033 0.2 0.0015
Maximum Value 82.067 47.6 0.99
Average Value 11.64 10.2 0.17
Median Value 4.73 5.1 0.05
90th Percentile 36.96 30.24 0.57

Table 1: Standard, Essential, and Waterfall 2020 Rock Samples

The Standard, Essential, and Waterfall Zones (figure 2) occur along north trending fold corridors that project under talus cover towards the Cloud Drifter Zone.  Mineralization is focused along gentle to moderately east-dipping veins and local sulfide-cement breccia along the fold hinge.

A more detailed presentation of the results included with this release can be found on the Company’s website: Southern Cloud Drifter Trend 2020 Rock Sampling Results.  Additionally, Dustin Perry and Gayle Febbo discuss the presentation in more detail: Goldrange: Southern Cloud Drifter Trend 2020 Rock Sampling Results – YouTube.

 

Figure 2: Standard, Essential, and Waterfall 2020 Rock Samples

Backpack drilling was completed in one hole (BP-ST-20-01) above the historical workings.  Drilling was collared to test a prominent gossan up slope of the adit.  The 9.6m vertical drill hole was oriented perpendicular to flat lying veins in the area and down the hinge of an anticline.  Drilling encountered gold mineralization throughout the hole with a highlight intercept of 10.84 g/t Au over 6.90m from surface containing a sub-interval of 18.35 g/t Au over 2.90m from 1.09m.  Detailed drill results can be found within the appendix of the linked technical presentation.

Quality Assurance and Quality Control

Rock samples were submitted to Acme Labs, a division of Bureau Veritas, located in Vancouver, British Columbia, an ISO9001:2008 accredited laboratory. The rocks samples were prepared using the PRP70-250 method by crushing 1.0kg of rock to =>70% passing through a 2mm sieve. Two hundred and fifty grams was then pulverized so that =>85% passes through a less than 75 μm sieve. A 0.25g 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 30g split was analyzed for gold using a lead collection fire assay fusion that was then digested and analyzed using AAS (method code FA430).

A 30g split of samples that assayed >10ppm gold and/or >200ppm Ag were analyzed using a lead collection fire assay fusion with a gravimetric finish (method code FA530). Samples that assayed for >200 ppm W, > 4000ppm 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 > 10000ppm 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 68,945,801 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

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: 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.