Endurance Gold Seeing Positive Drill Results at Reliance Gold Project in B.C.

• Endurance Gold has made a significant new gold discovery called Reliance near Vancouver with high-grade, shallow intersections over long widths.
• They have drilled 60 holes so far, with 70% containing good intersections of over 3 meters width and 10+ grams per tonne gold.
• The CEO believes Reliance could be a multi-million ounce gold deposit and plans to continue aggressive drilling in 2023 with 10,000-15,000 meters to prove up the size.
• The share price has underperformed despite great drill results, possibly due to the tight share structure with insiders owning 55% of the company.
• Endurance is focused on advancing Reliance as their top priority for creating shareholder value, rather than monetizing other assets in their portfolio.

About Endurance Gold Corp

Endurance Gold Corp is a Vancouver-based mineral exploration company focused on the acquisition, exploration and development of highly prospective North American mineral properties. The company’s key asset is the Reliance Gold Property located 5 km from the village of Gold Bridge and 10 km from the historic Bralorne-Pioneer Gold Mining Camp in southwestern British Columbia, Canada.

Interview with Robert Boyd, President & CEO of Endurance Gold

High-Grade Shallow Gold Intersected

In an interview at PDAC 2023, Endurance Gold CEO Robert Boyd provided an update on recent exploration results at the Reliance Gold Project. Boyd highlighted that out of 60 diamond drill holes completed so far, 70% have intersected significant gold mineralization with widths exceeding 3 meters and gram-meter values greater than 10.

11 holes returned exceptional intersections between 63 and 400 gram-meters, including 15 grams per tonne (g/t) over 24.8 meters in one hole and 3 g/t over 139 meters (estimated 15-30 meter true width) in another recent hole. The average depth of drilling intersections discovered so far is shallow at less than 70 meters below surface.

Boyd noted that they are dealing with an aerogenic gold system at Reliance, which has potential to continue to significant depth. The mineralization style is different than the high-grade crack-and-seal vein systems at the nearby historic Bralorne mine, with Reliance exhibiting wide breccia zones averaging about 9 meters true width over 550 meters of strike.

Large Scale Potential at Depth

According to Boyd, the Reliance system remains open at depth and along strike. Endurance is planning an expanded 10,000-15,000 meter drill program in 2023 focused on testing the depth potential of the known zones.

The company will start with one rig, expanding to two rigs, with at least one dedicated to targeting the mineralized breccia zones at depth to demonstrate the large-scale potential. The drill targets benefit from proximity to existing infrastructure, located just 5 km from a hydroelectric power facility.

Advancing Towards a Major Gold Discovery

Boyd stated that Endurance’s priority and focus is advancing the Reliance Gold Project, with the goal of unlocking the potential for a multi-million ounce gold deposit. The company’s objective in 2023 is to continue adding value through self-funded exploration, growing the known zones through additional drilling.

While Reliance is the prime focus, Endurance also holds the 100% owned Bandito rare earth-niobium project and the Elephant Mountain gold project in Alaska, both currently on care and maintenance. Monetization options are being considered for these assets to provide additional financial flexibility to advance Reliance.

Conclusion

The positive and consistent drill results emerging from the Reliance Gold Project demonstrate that Endurance Gold is onto a significant new shallow gold discovery exhibiting potential large scale size. The company is fully focused on systematically advancing Reliance, with an expanded 2023 drill program targetingExtensions of the known zones to depths beyond 70 meters underground intersected so far.

With a tight share structure, successful exploration results, and proven technical team, Endurance Gold represents an attractive speculative investment opportunity in a rising gold market, as the company aims to continue advancing Reliance towards demonstrating million ounce gold deposit potential.