Vancouver, BC, Canada – January 12, 2022
MINERAL HILL OUTLINES ANOMALOUS GOLD-BEARING ZONES ON THE DOT-APEX PROPERTY LOCATED IN SOUTHWESTERN BRITISH COLUMBIA, CANADA
Mineral Hill Industries Ltd. (“Mineral Hill” or “Company”) listed on the TSX Venture exchange (“TSXV”) under the trading symbol “MHI” and on the Deutsche Boerse, Frankfurt under the trading symbol “MLN” wishes to announce that it has now received the analytical lab results from its Phase I exploration program conducted on the Dot-Apex property (the “Apex-Property”) during the late season of 2021 and the Company is very pleasedthat a number of the rock and soil samples are anomalous and contain elevated gold and silver values. The exploration program consisted of soil and rock sampling surveys, limited geophysical VLF-EM survey and reconnaissance scale geological mapping, designed to investigate positive gold results documented in a National Instrument 43-101 technical report, dated Feb. 28, 2021 (Revised September 9, 2021) commissioned by Mineral Hill.
APEX ZONE Rock and Soil Sample Results:
Majority of the rock samples collected consist of disseminated arsenopyrite with minor pyrrhotite and pyrite mineralization. Eighteen (18) of the 27 rock samples collected contain anomalous gold with elevated values ranging from 0.233 g/t to a high of 4.92 g/t Au. Samples were obtained from both mildly siliceous-carbonate altered, biotite granodioritic intrusive rocks and skarn-altered sedimentary rocks associated with quartz-albite veinlets. Included in the reconnaissance rock sampling survey was an area not previously investigated, situated at least 1000 meters north of the gold highs noted above. Several samples collected consist of disseminated arsenopyrite with minor pyrite and pyrrhotite carrying gold values ranging 0.758 g/t to 1.9 g/t. This new target area hosts similar alteration and mineralization characteristics and is tentatively interpreted to be the northern extension of the anomalous gold-bearing intrusive granodioritic stock identified to the south.
Majority of the multi-element analyzed soil samples show arsenic (As) as a dominant element and is closely associated with the gold, suggesting arsenic is a good pathfinder and exploration tool. A number of the grid-line control soil samples collected along the southern portion of the Apex zone underlain by intrusive stock carry anomalous arsenic values as high as 7000 ppm with gold-in-soil values of up to 1.41 g/t. and indicate the potential of the mineralized intrusive extending further southward.
DOT ZONE The reconnaissance exploration surveys carried out over the Dot zone are a follow-up to the gold
values highlighted in the NI 43-101 technical report noted above. A number of rock samples documented in the report range from 0.094 g/t to 5.63 g/t Au,‘selected’ samples contained >15 g/t Au. The exploration program was curtailed due to late season inclement weather conditions. The results from the limited sampling surveys correlate with results documented in the NI 43101 technical report.
Rock and Soil Sample Results: A total of 15 rock grab samples were collected along a portion of a 40 meter-wide escarpment exposing a highly iron oxidized, sedimentary-hosted altered and mineralized section, representing the Dot zone. Majority of the 15 rock samples are anomalous containing: gold 0.687g/t – 2.07g/t; silver 1.0g/t – 10.2g/t and copper 265ppm – 1765ppm. Arsenopyrite (As) is closely associated with the anomalous samples ranging 4,910ppm – >1% As. Twenty three (23) reconnaissance soil samples were collected over the mineralized Dot zone. A number of the samples contained anomalous gold of up to 156 ppb Au (parts per billion) and up to 312ppm As.
VLF-EM Survey results: A limited VLF-EM (very low frequency-electromagnetic) reconnaissance survey was conducted over the northwest trending Dot zone covered by overburden with the objective to investigate the conductive field strength response of the underlying mineralized fault-shears hosted along the Dot zone. Two (2) VLF-EM profiles spaced at 100m apart were carried out, a conductive signature response was detected coincidental with arsenic soil anomalous high, which can be interpreted as the underlying extension of mineralized Dot zone, open to the northwest.
Follow-up detail mineral exploration surveys are warranted on the Apex-Property in order to properly constrain the Apex and Dot zones.
Mineral Hill’s exploration program was under the direct supervision of Mr. D.G. (Dan) Cardinal, P. Geo., F.G.A.C. and Q.P. Quality Assurance/Quality Control protocols were followed as set out in the National Instrument 43-101 guidelines. The samples were securely stored and transported to a national accredited laboratory in Vancouver, BC.
Mr. D. Cardinal, P. Geo./Q.P. has reviewed and approved the technical content of this News Release.
ABOUT MINERAL HILL’s PRESENT TRADING HALT
Although the exploration, development and 100% acquisition of the Dot-Apex Claim Group and the Master-ACE Claim Group, located in south-western British Columbia is a primary objective for the Company, Mineral Hill is still pursuing its due diligence in respect to the RTO-Project, consisting of alluvial gems and minerals located in South Africa as referred to in its announcements dated November 17, 2021 and December 13, 2021. The private placement, dedicated as “Bridge Financing” for the completion of the Company’s due diligence of the RTO-Project, announced in the December 13, 2021 news release, has not closed at this point.
Depending on the on the outcome and terms of the definitive agreement, the TSXV will determine the resumption of the Mineral Hill’s temporary “trading halt”.
The Company seeks Safe Harbour
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. There is no assurance the property option referred to above will be exercised or the private placement referred to above will close on the terms as stated, or at all. The Company disclaims any intention or obligation to revise or update such statements.
FOR FURTHER INFORMATION CONTACT:
Dieter Peter, President & CEO; Phone: +1 (604) 617-6794