Day: February 23, 2023

“Early surface exploration results received thus far demonstrate the presence of high-grade gold and silver mineralization in structural trends over more than forty square kilometres (40 km2). We look forward to initiating a maiden drill program on the properties, with the aim of making new discoveries in the region.”

Mr. John Antwi, President and CEO of Bendito, commented: “Phase 1 drilling at Alacrán has achieved our expectations of significantly extending the epithermal system to the southeast of the known historical resource estimates. The exciting holes, including BSS-23-005 that shows 1.49g/t AuEq over 51m starting at 1.5m from surface, demonstrate the potential for open pit mining. These results underpin our focus on generating shareholder value at Alacran.”

“The first three holes can only be described as a success. We now know that the breccia continues to depth and appears to be of similar quality to what we had in REG-22-01. Our geologic understanding has increased significantly and our ability to target effectively in further step outs will only improve going forward” – Michael Tucker – Director and Lead Geologist.

James Anderson, Chairman and CEO said, “SI22-006 is the best drill hole the Company has drilled at any of its mines recently acquired from Great Panther Mining in August of 2022. With almost five meters of true width intersecting 1,219 g/t AgEq, which includes 0.42m true width of 6,981 g/t AgEq, this may represent a game changing result for the mine.”

The focus on this year’s drilling plan will be led by discovery drilling on a number of gold bearing breccia pipes in the cluster that comprise the Santana project. Some of these priority targets like Zata and Benjamin West have never been drilled before but have been shown to be gold bearing from several passes of surface sampling programs completed in recent years.