Kingfisher Commences Diamond Drilling Program at Goldrange Project

VANCOUVER, British Columbia, June 14, 2022 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce the commencement of diamond drilling at the 100% owned 511 km2 Goldrange Project. Goldrange is located approximately 25 km south of the town of Tatla Lake in the Chilcotin region of Southwest British Columbia.

Highlights

  • An expanded and fully funded program of up to 10,000 m of diamond drilling.
  • Step out drilling of near-surface breccia targets in the Cloud Drifter Zone that graded up to 73.4 g/t Au over 1 m and 6.9 g/t Au over 9 m in the Pad 400 target area.
  • First-ever drilling of robust multi-element geochemical anomalies at the Cloud Drifter Zone on exploration trend with high-grade Au intercepts from 2021.
  • Day Trip, Langara, and Standard zones will see first-ever diamond drill holes contingent upon positive RAB drill results.

Dustin Perry, CEO states “Our second drill program will begin at the Cloud Drifter Zone and see shallow target follow-up drilling as well as the very first drill tests of two exciting gold targets within the zone. Drill results from last year identified high-grade gold along these easterly and north-easterly exploration trends in the lower (northern) mountain. This year, our drill targeting will focus on delineating feeder structures in the lower mountain responsible for widespread gold anomalism intercepted in the upper (southern) Cloud Drifter drill holes.  Additionally, we are allocating about a third of our program to follow up on results at Day Trip, Langara, and Standard zones from our ongoing RAB drill program.”

Figure 1. Diamond Drilling Target Areas

Overview

Last year Kingfisher drill tested approximately 10% of the Cloud Drifter Trend in the first-ever drill program on the 511 km2 project. The 2021 drill results indicated the presence of a large hydrothermal system with broad gold anomalism throughout and multiple high-grade intervals discovered by drilling in areas of forest cover.

Geological interpretations identify four target types at Cloud Drifter: 1) high-grade gold in steep shears, such as 73.40 g/t Au over 1 m in hole GR22-014; 2) complex structural zones and associated high-grade feeder breccia bodies, such as 6.88 g/t over 9 m in hole GR22-007; 3) quartz diorite hosted homogenous (disseminated and stockwork) mineralization styles that are yet to be tested with drilling; and 4) broad gold anomalism along subhorizontal lithological boundaries, such as 16 m of 0.60 g/t Au in GR22-004.

The 2022 drill strategy at Cloud Drifter is two-part: with both step out holes and new exploration holes planned. Step out drill holes will follow-up on high-grade intervals (e.g., 6.88 g/t Au in hole GR22-007 and 73.40 g/t Au in hole GR22-014; Figure 2). Structural interpretations indicate a common structural trend along these two intercepts that also coincides with a surface sample of 128.9 g/t Au.

Pad 400 Target Area

An important structural trend in the lower Cloud Drifter Zone correlates with multiple high-grade Au intercepts in 2021 drill holes. The structure strikes easterly and dips moderately south (Figure 2). The structural expression is more than 25 m true thickness, which also coincides with a coincident chargeability-conductivity geophysical anomaly. The high-grade Au intercepted along the structure (see Figure 2) is separated by 100 m and 60 m of true distance along the structure, and the there are no holes which test the deeper extents. Drilling in this area will test the potential for lateral and down-dip continuity of high-grade gold along the structure.

Figure 2. Pad 400 Target Area

Figure 3. Mineralization Style Pad 400 Target Area

Eastern Target Area

Initial exploration holes outboard of the Pad 400 Target Area will target previously untested geochemical, and geophysical anomalies located up to 450 m east (Figure 4) and 650 m west (Figure 6) from 2021 drill collars. At the Eastern Target Area (Figure 4), mapping and rock sampling of limited rock exposures in forest cover indicate the presence of both a high sulfide and a high vein density domain with homogeneous mineralization textures (Figure 5). Stockwork and disseminated mineralization styles in rocks in this area grade up to 9.7 g/t Au and coincide with strong multi-element (Au, Ag, As, Cu, Bi, Te, Sb, Zn, Mo, W) anomalism in soil geochemistry. Based on the homogeneous textures and consistent vein densities, there is potential for continuity of grade laterally between outcrops and vertically at depth.  

Figure 4. Eastern Target Area

Figure 5. Homogeneous Mineralization Style in Eastern Target Area

Western Target Area

Planned holes at the Western Target Area (Figure 6) will target the highest multi-element soil geochemical anomaly (Au, Ag, Cu, Zn, Pb, Sb, Bi, Te, W) in the Cloud Drifter Zone coupled with a coincident conductivity and chargeability anomaly. Geological mapping in 2020 identified an Fe-oxide alteration body uphill of this soil anomaly (Figure 6). This alteration domain hosts abundant Fe-oxide veins (Figure 7) interpreted to reflect the reaction of sulfide minerals with meteoric water and air. One of the samples with the least Fe-oxide and most primary sulfide graded 21.4 g/t Au. The Western Target Area has seen little exploration to date due to the steep nature of the terrain, yet it is large in scale and exploration potential.  It will be initially tested with relative long drill holes to transect the broad Fe-oxide alteration on the slope.

Figure 6. Western Target Area

Figure 7. Western Target Area Fe-oxide Alteration

Options Grant

The Company also announces the grant of 2,000,000 stock options exercisable for a period of five years at a price of C$0.30 per share to various directors, officers, and employees.  The options will be subject to deferred vesting over one year and is part of Kingfisher’s ongoing strategy of granting stock options to attract and retain talent.

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 103,007,272 shares outstanding.

For further information, please contact:

Dustin Perry, P.Geo.
CEO and Director
Phone: +1-778-606-2507
E-Mail: [email protected]   

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 Announces Closing of Upsized Private Placement Financing

VANCOUVER, British Columbia – June 7, 2022 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce that, further to the Company’s news releases dated April 27, 2022 and May 26, 2022, it has closed its upsized private placement financing (the “Offering”) for gross proceeds of approximately C$4.85 million through the issuance of 15,250,000 charity flow-through units at a price of C$0.28 per charity flow-through unit and 2,433,972 flow-through units at a price of C$0.24 per flow-through unit of the Company (collectively, the “Offered Units”).

Each Offered Unit is comprised of one common share of the Company (each, a “Common Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”), with each Warrant being exercisable for one Common Share at an exercise price of C$0.35 per Common Share at any time up to 24 months following the closing date of the Offering.

The aggregate gross proceeds raised from the Offering will be used before 2024 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.

Dustin Perry, CEO of Kingfisher, commented: “We are very pleased with the result of this oversubscribed non-brokered financing. Kingfisher is well positioned financially and operationally as we embark on our 2022 discovery-focused drilling program at our 100% owned Goldrange Project in Southwest British Columbia.”

In connection with the Offering, commissions on the sale of the Offered Units were paid to eligible finders (the “Finders”) in accordance with the policies of the TSX Venture Exchange and applicable securities law.  The Company paid an aggregate of C$69,500 in cash commissions and issued 327,083 finder warrants (the “Finder Warrants”) to the Finders.  Each Finder Warrant entitles the holder thereof to acquire one Common Share at a price of C$0.35 at any time prior up to 24 months following the closing date of the Offering.

All securities issued pursuant to the Offering, including Common Shares issuable upon the exercise of Warrants or Finder Warrants, are and will be subject to a hold period of four months and one day after the date of closing of the Offering.

Dustin Perry, CEO of Kingfisher, participated in the Offering and purchased 20,800 Offered Units, for an aggregate subscription of C$4,992.00. Alejandro Emiliano Gubbins Cox also participated in the Offering and purchased 4,000,000 Offered Units, for an aggregate subscription of C$1,120,000.00. Participation by Messrs. Perry and Gubbins Cox in the Offering constituted a “related party transaction” for the Company within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). MI 61-101 provides exemptions from the requirements to obtain a formal valuation and minority shareholder approval in connection with the participation by Messrs. Perry and Gubbins Cox in the Offering, and the Company has relied on the exemptions available in sections 5.5(a) and 5.7(1)(a) of MI 61-101.

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 103,007,272 shares outstanding.

For further information, please contact:

Dustin Perry, P.Geo.
CEO and Director
Phone: +1-778-606-2507
E-Mail: [email protected]    

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 statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Forward-looking statements in this news release include, among others, statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance; and the impact of COVID-19.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

Kingfisher Commences RAB Drilling Program at Goldrange Project

VANCOUVER, British Columbia, May 30, 2022 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce the commencement of rotary air blast (RAB) drilling at the 100% owned 511 km2 Goldrange Project. Goldrange is located approximately 25 km south of the town of Tatla Lake in the Chilcotin region of Southwest British Columbia.

Highlights

  • The Company plans for a 35-day rotary air blast (RAB) drill program to test the Day Trip, Langara, and Standard zones. Production with the RAB drill averages one hole per day with a depth capability of up to 100 m.
  • Proposed RAB holes at the Day Trip Zone will test several targets where highly anomalous geochemistry (up to 20.1 g/t Au in subcrop and up to 8.3 g/t Au in talus fines) coincides with very high IP chargeability (up to 97 mV/V) and conductivity.
  • At the Langara Zone, planned holes will target below a historical adit and sheeted quartz-sulfide veins mapped on surface. Rock samples at Langara grade up to 60.4 g/t Au, 1500.1 g/t Ag, and 6.8 % Cu.
  • Results from backpack drilling in 2020 at the Standard Zone of 10.84 g/t Au over 6.9 m will be followed-up with RAB, which will also target the Standard adit downslope.

Dustin Perry, CEO states “We are excited to be back at Goldrange for an expanded 2022 discovery-focused drill program.  Initial RAB drilling will test high quality, shallow targets at the Day Trip, Langara, and Standard Zones, which have been substantially de-risked through structural mapping, IP geophysics and backpack drilling. The RAB drill provides us with a low-cost drill option for near-surface targets as an initial pass prior to diamond drilling.”

Figure 1. Proposed RAB and Diamond Drilling

About Goldrange

The 511 km2 Goldrange Project spans over 43 km along a complex structural zone within the Yalakom Gold Belt in southwest British Columbia. Goldrange was acquired to cover a broad area of widespread anomalous gold mineralization in streams, soils, and rocks. In 2021, Kingfisher completed the first-ever diamond drill program on the property which focused on approximately 10% of the Cloud Drifter Trend – the most advanced target on the property that includes the Cloud Drifter, Langara, Standard, Essential, and Waterfall Zones.  Initial results returned highlights of 73.4 g/t Au over 1 m, 6.9 g/t Au over 9 m and 18.7 g/t Au over 2 m.  Widespread anomalous gold mineralization was intercepted throughout the area of drilling which spanned ~600 m by ~350 m and tested over 550 m of vertical extent. 

The RAB drilling program in 2022 is focusing on shallow targets at the Day Trip, Langara, and Standard zones shown on Figure 1 and each zone is explained in more detail below.  The diamond drilling program in 2022 will focus on the lower elevation areas of the Cloud Drifter Zone and is scheduled to begin in mid-June. Details on diamond drill targets will be announced in future releases.

Figure 2. Day Trip Zone and Proposed RAB Drilling

Day Trip Zone

The Day Trip Zone covers a rounded to flat mountain top approximately 5 km southeast of the Cloud Drifter Trend (Figure 2).  The target covers a minimum 900 x 500 m area of geophysical and geochemical anomalism that projects under talus cover on all sides The target is situated between two fault splays rooted in the regional Ottarasko Fault.  Intrusive-hosted veins up to 2 m in width occur over an area ~100 m by 400 m.  Quartz veins from this area returned grades from below detection limit to 6.7 g/t Au over 2 m.  Adjacent to the intrusion is a ~70 m x 90 m area of arsenopyrite-cement breccia in subcrop.  Approximately 20% of the subcrop material in this area consists of arsenopyrite-cement breccia and grades from 3.4 to 20.1 g/t Au (see release dated May 13, 2021).  Talus fine sampling in 2020 and 2021 outlined a broad area of gold anomalism (>100 ppb Au) over ~100 m x 450 m and grades up to 8.4 g/t Au over the subcrop breccia area.  Talus fine anomalies are coincident with areas of gold in outcrop and subcrop that graded up to 20.1 g/t Au.  Rock and talus fine geochemistry both yield a strong multi-element signature of elevated As, Ag, Cu, Bi, Te, and Pb associated with Au.

IP surveying was completed in 2021 and consisted of 5 lines spanning 4.2 km (see release dated January 12, 2022).  The survey delineated three domains with significant high chargeability values (>32 mV/V), the largest of which is broadly coincident with areas of known mineralization and talus fine anomalies. The strongest chargeability values (>60 mV/V) within the survey area are coincident with high conductivity responses on survey lines 3500, 3600, and 3700. Anomaly 3600E (Figure 5) coincides with a 90 x 70 m subcrop of sulfide-cement breccia. The geophysical anomalies are open to the south, north, and southwest as well as at depth. No rock or soil samples have been collected in the western chargeable zones to date.

Proposed RAB drill holes at Day Trip will target multiple at-surface and near-surface coincident geophysical and geochemical anomalies.  The proposed holes will drill below mapped mineralization hosted in sheeted veins on surface (see Figure 4) as well as below a sulfide-cement body mapped in subcrop (see Figure 5).  The chargeability targets each demonstrate an excellent correlation with known structural features projected to depth, such as faults, intrusive contacts or projection of breccia body.  One chargeability anomaly (3600E, Figure 5) does not continue to surface despite a spatial association with surface mineralization. This low chargeability area is interpreted to reflect a loss of sulphide near surface due to oxidation, which is also identified in rocks on the surface (e.g., Figure 3).

Figure 3: Oxidized Sulfide-Cement Breccia Grading 20.1 g/t Au

Figure 4: Day Trip Section 3700

Figure 5: Day Trip Section 3600

Langara Zone

The Langara Zone (Figure 6) is located at the eastern extent of Cloud Drifter Trend, 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 fossil-rich 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 6.  Langara Zone Proposed RAB Drilling

RAB drill targets at Langara were selected from detailed surface structural mapping coupled with surface geochemical results. An IP geophysical survey was not employed at Langara due to the presence of chargeable geology in the background rocks. The principal target at Langara is below the historical adit, which is located in a major structural interference zone (Figure 6) between a northerly vein swarm and an easterly brittle fault and shear vein corridor. The planned RAB holes will target both the northerly sheeted veins (Figure 7) and easterly shear veins and the Langara adit breccia-style mineralization, projected to plunge steeply to the south (Figure 8).

Figure 7: Langara Section 1

Figure 8: Langara Section 2

Standard Zone

The Standard Zone is the site of a historical adit (1930s) and is located on a steep cliff band to the south of the Cloud Drifter Zone (Figure 9).  Mineralization occurs along a north-trending fold corridor that projects under cover to the north.  Mineralization is focused within gentle to moderately dipping veins as well as sulfide-cement breccia within the fold hinge. The planned RAB hole will target the projection of the ore shoot mined in the 1930s and a backpack hole drilled in 2020, which included 10.84 g/t Au over 6.9 m in breccia (see core photo Figure 10 and release dated April 21, 2021). Drill and surface sampling results have confirmed that arsenopyrite-rich, breccia-style mineralization at Goldrange is associated with the highest-grade gold intercepts.

Figure 9: Standard Zone

Figure 10: BP-ST-20-01

Future Plans

Diamond drill pad construction is currently underway, and the Company anticipates the arrival of a diamond drill on or about June 10, 2022.  Diamond drill targets at the Cloud Drifter Zone will be outlined in future releases.

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 85,173,300 shares outstanding.

For further information, please contact:

Dustin Perry, P.Geo.
CEO and Director
Phone: +1-778-606-2507
E-Mail: [email protected]   

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 Announces Upsize to Private Placement Financing

VANCOUVER, British Columbia – May 26, 2022 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce that, further to its news release dated April 27, 2022, and due to investor demand, it has upsized its non-brokered private placement (the “Offering”) from gross proceeds of up to C$3.0 million to up to C$4.9 million through the issuance of charity flow-through units at a price of C$0.28 per charity unit and flow-through units at a price of C$0.24 per flow-through unit of the Company (collectively, the “Offered Units”).

The aggregate gross proceeds raised from the Offering will be used before 2024 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.

All terms of the Offering remain the same, provided that the Company intends to issue up to a total of 17,891,671 Offered Units. Each Offered Unit will be comprised of one common share of the Company (each, a “Common Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”), with each Warrant being exercisable for one Common Share at an exercise price of C$0.35 per Common Share at any time up to 24 months following the closing date of the Offering.

In connection with the Offering, the Company may pay finder’s fees to certain finders, which fees would be a cash payment equal to up to 7% of the gross proceeds raised by purchasers introduced by such finders, and the issuance of non-transferable compensation warrants equal to up to 7% of the number of Offered Units purchased by purchasers introduced by such finders (each, a “Compensation Warrant”). Each such Compensation Warrant will be exercisable for one Common Share at an exercise price of C$0.35 per Common Share at any time prior up to 24 months following the closing date of the Offering.

The Offering is expected to close on or about June 7, 2022, and is subject to approval of the TSX Venture Exchange. All securities issued pursuant to the Offering and as payment of any finder’s fees, including Common Shares issuable upon the exercise of Warrants or Compensation Warrants, if any, will be subject to a hold period of four months and one day after the date of 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.

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 85,173,300 shares outstanding.

For further information, please contact:

Dustin Perry, P.Geo.
CEO and Director
Phone: +1 236 358 0054

E-Mail: [email protected]    

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 statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Forward-looking statements in this news release include, among others, statements relating to expectations regarding the expected closing date of the Offering, and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance; and the impact of COVID-19.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

Kingfisher Announces $3.0 Million Private Placement Financing

VANCOUVER, British Columbia – April 27, 2022 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) is pleased to announce a non-brokered private placement of charity flow-through units (the “Charity FT Units”) at a price of C$0.28 per Charity Unit and flow-through units (the “FT Units” and, collectively with the Charity FT Units, the “Offered Units”) at a price of $0.24 per FT Unit of the Company to raise aggregate gross proceeds of up to approximately C$3.0 million (the “Offering”).

The Offered Units will be offered 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. Each Offered Unit shall consist of one 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 Warrant will be exercisable to acquire one additional non-flow-through common share of the Company for 24 months from the Closing Date at an exercise price of C$0.35.The aggregate gross proceeds raised from the Offered Units will be used before 2024 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.

The Offering is expected to close on or about May 19, 2022 and is subject to the receipt of all necessary regulatory and other approvals, including, but not limited to, the listing of the “flow-through” shares on the TSX Venture Exchange. Closing of the Offering is subject to approval of the TSX Venture Exchange. The Offered Units will be subject to a hold period of four months and one day from the closing date in accordance with applicable securities laws. The Company may pay finder’s fees to certain finders in connection with 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.

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 85,173,300 shares outstanding.

For further information, please contact:

Dustin Perry, P.Geo.

CEO and Director

Phone: +1 236 358 0054

E-Mail: [email protected]    

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 statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Forward-looking statements in this news release include, among others, statements relating to expectations regarding the expected closing date of the Offering, and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance; and the impact of COVID-19.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

Kingfisher Reports Remaining Regional Surface Results Including up to 113.9 G/T Gold, Goldrange Project 

VANCOUVER, British Columbia, April 19, 2022 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) announces results from its 100% owned GoldrangeProject. Goldrange is located approximately 25 km south of the town of Tatla Lake in the Chilcotin region of Southwest British Columbia.

Highlights

  • Fieldwork outlined two areas (Lotus and Lost Fiddle) with bonanza gold grades in outcrop.Mineralization at both projects under forest and till cover and is open laterally and at depth.
  • Rock chip sampling at Lotus returned four samples greater than one ounce per ton gold with up to 113.9 g/t Au and backpack drill resultsinclude up to 13.4 g/t Au over 0.43 m. 
  • At the Lost Fiddle Prospect, which is only 2 km north of the Cloud Drifter Trend, backpack drilling of historical blast trenches returned up to 17.1 g/t Au, 431 g/t Ag, and 4.12% Cu over 0.45 m. 

Dustin Perry, CEO states “Regional sampling in 2021 highlights the high-grade discovery potential at the district-scale Goldrange Project.  The Lotus and Lost Fiddle prospects are particularly attractive as there are no limitations on dimensions.  Outcrop exposures at both locations contain bonanza grades that disappear under forest or till cover leaving excellent upside for future discoveries.”

The Lost Fiddle Prospect is located 2 km north of the Cloud Drifter Trend, the most advanced target within the district (Figure 1). Kingfisher geologists located historical blast trenches for the first time since the 1960s. The only available information on the Lost Fiddle Prospect was from government records, which provided an approximate location but no assay results. The blast trenches were located by Kingfisher some 325 m northwest of where records indicated. 

Figure 1. Target areas in the southern Goldrange Project

During the 2021 field program, nine short backpack drill holes totalling 16.07 m, 198 soil samples and 27 grab and rock chip samples were collected at Lost Fiddle (Figure 2; Tables 1 and 2). The backpack drill and rock chip samples were focused around three historical blast trenches and mineralized exposures. Soils were collected on a 25 m grid. Rock samples returned several high-grade gold results including the previously reported (Sept 28, 2021) 42.80 g/t Au, 1097.0 g/t Ag, and 1.27% Cu (Figure 2; Table 1). Anomalous soils were located proximal to the historical blast trenches with grades up to 1402 ppb Au (1.4 g/t), 49,718 ppb Ag (49.7 g/t) and 2062.8 ppm Cu (0.21%; Figure 2, Table 2). The soil grid was covered in a thick layer of till, which may account for a lower soil response outboard of the outcrop area. Backpack drilling was focused around the western blast trench. Hole BP-LF-21-05 graded 17.1 g/t Au, 431 g/t Ag, and 4.12% Cu over 0.45 m hosted in a strongly oxidized quartz vein with vuggy boxwork. Hole BP-LF-21-09 intersected 50 cm of massive pyrite-pyrrhotite-chalcopyrite-arsenopyrite sulfide (true thickness unknown) from 2.4 to 2.9 m grading 13.4 g/t Au, 251 g/t Ag, and 5.24% Cu hosted in volcaniclastic conglomerate. Kingfisher’s sampling at Lost Fiddle delineated a mineralized footprint measuring at least 200 x 200 m.

Figure 2. Lost Fiddle Prospect sampling and backpack drill results

 Au (g/t)Ag (g/t)Cu (%)
Min. Value0.010.10.01
Max. Value42.801097.01.27
Ave. Value3.83131.40.39
Median Value1.1037.20.23
90th Percentile8.11429.21.16

Table 1: 2021 Lost Fiddle rock sample statistics (n = 27)

 Au (ppb)Ag (ppb)Cu (ppm)
Min. Value0.1246.1
Max. Value1402.0497182062.8
Ave. Value18.758254.9
Median Value2.311323.6
90th Percentile16.768888.1

Table 2: 2021 Lost Fiddle soil sample statistics (n = 198)

The Lotus Prospect was discovered in the 1990s in a gully exposure within broad forest and till cover. Lotus hosts a northwesterly-striking, moderately west-dipping shear banded quartz vein and reverse brittle fault zone with a minimum 3 m width. The true thickness of the zone is unknown due to forest cover on both west and east continuations. Veins of quartz, carbonate, pyrite and arsenopyrite cut volcanic and sedimentary rocks. The target lies on trend with a district-scale thrust fault and is proximal to a regional-scale contact with Bendor plutonic rocks, known as an important focus for mineralization at the Goldrange Project.

In 2021, Kingfisher geologists completed a program of hand trenching, backpack drilling and rock chip sampling. Five shallow backpack holes totalling 11.85 m and an additional 10 rock chip samples were collected (Figure 3, Table 3). Rock chips collected from the vein exposure returned four samples more than one ounce per ton gold with grades up to 113.9 g/t Au (Table 3). Backpack drill highlights include hole BP-LT-21-01, which graded 13.4 g/t Au over 0.43 m.  Backpack drilling was plagued with poor recovery with a considerable amount of sulfide material washed out of the drill hole in a slurry. Mineralization within the gully projects laterally uphill beneath till cover, laterally and downhill beneath forest cover and has never been tested with a diamond drill. The width extent of the vein is masked by the presence of a post-mineral, tabular felsic dike following the western margin of the gully exposure

Figure 3.  Lotus Prospect sampling and backpack drill results

 Au (g/t)Ag (g/t)Cu (%)Te (ppm)
Min. Value0.000.10.000.3
Max. Value113.90205.00.44217.7
Ave. Value15.8825.10.0431.4
Median Value0.712.50.013.6
90th Percentile69.17104.50.20133.6

Table 3: 2020 and 2021 Lotus rock sample statistics (n = 16)

Future Plans

The Company intends to file an amendment to its current 5-year area-based permit to incorporate the Lost Fiddle and Lotus prospects so that permitted work including IP geophysics and drilling can be completed.

Sampling Protocol

Backpack drillholes at the Goldrange Project are 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. Unlabeled 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 Analytical Laboratories Inc., a division of Bureau Veritas Commodities Canada Ltd., 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. A sample of 250 grams was then pulverized so that greater than or equal to 85% passes through a less than 75 μmsieve. 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, or 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).

Soil samples weighing approximately 250 grams per sample were delivered by company personnel to Acme Laboratories Inc..  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.

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 85,173,300 shares outstanding.

For further information, please contact: 

Dustin Perry, P.Geo. 

CEO and Director

Phone:​+1 236 358 0054

E-Mail: [email protected]  

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 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: [email protected]   

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: [email protected]   

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. 20120212.19–0.17
and 21221970.39––
and 29129322.52––
incl. 29129214.76––
and 34835350.36––
GR21-009414211.47––
and 173183101.22––
incl.17517942.62–0.19
GR21-010101666.7813.20.20
incl.1416218.6935.00.47
incl.1516130.2045.70.29
and 313650.28––
and 19519940.42––
and 38038111.63––
GR21-0114252100.34–0.10
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: [email protected]   

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 Reports Shallow Drilling Intersects 73.40 g/t Gold over 1 m at Cloud Drifter Discovery

VANCOUVER, British Columbia, February 1, 2021 – Kingfisher Metals Corp. (TSX-V: KFR) (FSE: 970) (OTCQB: KGFMF) (“Kingfisher” or the “Company”) announces assay results from three additional holes from its initial 14-hole (4925.3 m) drill program on the Goldrange Project. Assay results for seven remaining drill holes are pending. Goldrange is located approximately 25 km south of the town of Tatla Lake in the Chilcotin region of Southwest British Columbia. 

Highlights

  • Shallow drilling has revealed broad zones of near-surface mineralization over significant widths, such as 0.76 g/t Au over 8 m in hole GR21-012 and 0.36 g/t Au over 17 m in hole GR21-013.
  • Initial drilling at the Cloud Drifter Trend has now confirmed multiple intercepts of open-ended gold mineralization throughout the 550 m of vertical extent that was partially tested in 2021.   Approximately 90% of the ~3 km Cloud Drifter Trend remains untested by drilling.  
  • Drill core from the previously released intercept of 6.88 g/t Au over 9 m (GR21-007) as well as two other visually significant intercepts from GR21-009 and GR21-010 (pending assays) will be on display at the AMEBC Roundup conference in Vancouver, BC on Feb 2-3.  Drill core photos of these intercepts are included within this release.

Dustin Perry, CEO of Kingfisher states “The headline intercept in GR21-014 demonstrates the potential for very high-grade gold mineralization within the Cloud Drifter Trend. The high-grade gold intercepts in GR21-014 and GR21-007 (see November 16, 2021 press release) are located at low relative elevations and are close to surface, 68 m and 140 m respectively. These shallow targets are part of an emerging trend of high-grade gold mineralization hosted in lower quartz diorite intrusions. Prospecting in 2020 identified several areas of disseminated and stockwork mineralized quartz diorite that grade up to 9 g/t Au. Seeing these styles of mineralization on trend and up to 500 m away from these high-grade drill intercepts has our exploration team excited as we move towards the 2022 drill program.

The 2021 drill program targeted a small part (350 m) of the western end of the gold-in-soil geochemical anomaly that defines the ~3 by 2 km Cloud Drifter Trend (Figure 1). It lies in an area of extensive forest cover and limited outcrop. Significant intercepts from the three drill holes included in this release are highlighted in Table 1 and Figures 2-4, with more detailed drill hole summaries presented below. 

HoleFrom (m)To (m)Interval (m)Au g/tAg g/tCu %
GR21-012151611.76––
and748060.31––
and848731.09––
incl.868713.11––
and9310180.76––
incl.959612.41––
GR21-013717321.23––
and778140.46––
incl.777811.35––
and10210314.52––
and12012112.32––
and213230170.36––
incl.21421512.86––
and23524160.42––
GR21-014737411.17––
and959940.34––
and109111237.8220.00.16
incl.110111173.4039.50.29
and12012440.52––

*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 diamond drilling at the Goldrange project­

Figure 1: Cloud Drifter Trend

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-cemented 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 returning 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

Drill Hole Descriptions

Drill holes GR21-012, -013 and -014 (Figures 3 and 4) were drilled from the same drill pad and targeted a gold in soil geochemical anomaly in an area with limited surface exposure. All three holes collared uphill of the upper contact of the quartz diorite intrusion from which limited surface grab samples grade up to 128.9 g/t Au. A 120-150 m thick sill of quartz diorite, dipping gently to the south, was intersected in all holes with sedimentary rocks in the footwall and hanging wall. Veins and breccias of quartz-carbonate-arsenopyrite-pyrite ± chalcopyrite ± sphalerite are developed in both sedimentary and intrusive rocks and are flanked by pervasive quartz-carbonate-sericite alteration.

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

Figure 3: Cross-section of GR21-012 and GR21-014, view north-northeast

Figure 4: Cross-section of GR21-013, view east

Outstanding Assays and Future Plans

The Company awaits the remainder of analytical results from the 2021 drill program. The remainder of assays will be released once they are received and QAQC protocols have been completed.  

Kingfisher is currently in the planning stages for the 2022 drill program that is anticipated to begin in early to mid May.

AMEBC Roundup Coreshack

Select polished drill core and rock samples from the Goldrange Project will be on display at the AMEBC Roundup Coreshack on February 2and 3, 2022. Drill core from visually significant intercepts in GR21-007, -009, and -010 will be presented.

Representative photographs of the drill core that will be on display are included below:

GR21-007

GR21-009

GR21-010

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: +1 778 606 2507
E-Mail: [email protected]

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.