Solstice Gold Completes Initial Drill Program and Announces Strategic Claim Acquisition at the Strathy Gold Project in the Temagami Greenstone Belt, Abitibi Subprovince, NE Ontario

Business Wire

02-07-2025

VANCOUVER, British Columbia--(BUSINESS WIRE)--Solstice Gold Corp. (TSXV: SGC) (' Solstice ', 'we', 'our' or the ' Company ') is pleased to announce the successful completion of the Spring 2025 drill program at the Strathy Gold Project (the ' Project '), located in the Temagami Greenstone Belt in the prolific Abitibi Subprovince in Ontario. Solstice also announces that we have entered into an agreement with an arms-length party to acquire 17 claims which expand our core Strathy Gold Project holdings by 50% (the ' Agreement ').
The combined area of the acquired claims will add 373 hectares to our core Strathy claim block, increasing its area by 50%
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Spring 2025 Drill Program
The Spring 2025 drill campaign was successfully completed on four target areas (Figure 1) for a total of 3,125m across 14 drill holes.
At least 50% more sampling than originally planned has extended assay timelines.
Assays are pending and will likely be received in July.
Land Acquisition
Solstice has entered into the Agreement to acquire a 100% interest in a group of 17 contiguous unpatented claims directly adjacent to the core claims of our Strathy Gold Project (the ' Acquisition '). These claims are underlain by the Archean-age Leckie-group metavolcanic assemblage, which is the main host rock for the Project's main targets. Targeting from Solstice's 2024 IP program show high priority targets may extend along strike onto these claims. They also contain OGS gold showings along a large structure parallel to the IP targets. The combined area of these claims will add 373 hectares to our core claim block, increasing its area by 50%.
Solstice has also been active in staking at the Strathy Gold Project since the Spring 2025 drill program began. Solstice has acquired 110 hectares of claims at the western side of the Project via staking. These claims are also underlain by an Archean-age metavolcanic assemblage and represent a valuable expansion of our wider land position.
Claim Agreement
Pursuant to the Agreement, in consideration for the purchase of the 17 unpatented claims pursuant to the Acquisition, Solstice must issue 175,000 common shares to an arms-length seller as soon as practicable following TSX Venture Exchange ('TSXV') approval. The common shares will be subject to a four month hold period. The Acquisition is subject to the approval of the TSXV. No finders fee is payable with respect to the Acquisition.
About the Strathy Gold Project
The Strathy Gold Project is an extensive 45 km 2 land package in the Archean-age Temagami Greenstone Belt, which is the southernmost extension of the Abitibi Subprovince in Ontario. The Project includes parts of the Net-Vermilion Deformation Zone and the Link Lake Deformation Zone, which are two prominent Northeast-Southwest-trending structures crosscutting Archean metavolcanics. It contains documented, widespread high-grade gold mineralization, hosting historic intercepts of 5.00 g/t Au over 17.28m and 7.66 g/t Au over 7.25m (core lengths) at vertical depths of approximately 50-100 metres below surface 1, and documented surface sample results of up to 62.7 g/t Au 2. Despite this demonstrated prospectivity, the core claims at Strathy have not been systemically explored in the past.
A 17.5 line kilometre IP program carried out in November 2024 has detected known mineralization, and in addition to this, the IP results show extensive, better-developed and untested IP anomalies along the North and South extensions of the Leckie Fault. The drill program described above marks be the first time that the core area of the Strathy Gold Project has been systematically drilled. The Strathy Gold Project is located along the Trans Canada Highway, has excellent access to infrastructure and mining expertise.
For more detailed information on the Project, including a technical review of the project and a detailed review of IP results and targeting, please visit www.solsticegold.com
The Company wishes to point out that, since assays are pending, there is no certainty that observed mineralization will contain elevated gold.
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About Solstice Gold Corp.
Solstice is an exploration company with quality, district-scale gold projects in established mining regions of Canada. Our 45 km 2 Strathy Gold Project hosts high grade gold mineralization over a wide area straddling two NE-SW-trending structures. It is located in the Abitibi Subprovince of the Superior Craton and has never been systematically explored in its history. Our Qaiqtuq Gold Project which covers 662 km 2, hosts a 10 km 2 high grade gold boulder field, is fully permitted and hosts multiple drill-ready targets. Qaiqtuq is located in Nunavut, only 26 km from Rankin Inlet and approximately 7 km from the Meliadine Gold Mine owned by Agnico Eagle Mines Limited. Our district-scale Atikokan Gold Project is approximately 26 km from the Hammond Reef Gold Project owned by Agnico Eagle Mines Limited. Our 194 km 2 Red Lake Extension (RLX) and New Frontier projects are located at the northwestern extension of the prolific Red Lake Camp in Ontario and approximately 45 km from the Red Lake Mine Complex owned by Evolution Mining. An extensive gold and battery metal royalty and property portfolio of over 80 assets was purchased in October 2021. Well over $2.5 million in value and over 20 new royalties have been generated since the acquisition.
Solstice is committed to responsible exploration and development in the communities in which we work. For more details on Solstice Gold, our exploration projects and details on our portfolio of projects please see our Corporate Presentation available at www.solsticegold.com.
Solstice's Chairman, David Adamson, was a co-award winner for the discovery of Battle North Gold Corporation's Bateman Gold deposit and was instrumental in the acquisition of many of the district properties in the Battle North portfolio during his successful 16 years of exploration in the Red Lake.
Sandy Barham, M.Sc., P.Geo., Senior Geologist, is the Qualified Person as defined by NI 43-101 standards responsible for reviewing and approving the technical disclosures of this news release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements and Additional Cautionary Language
This news release contains certain forward-looking statements ('FLS') including, but not limited to the need for more prospecting and analysis, the completion of the Acquisition including issuance of the common shares and TSXV approval, . FLS can often be identified by forward-looking words such as 'approximate or (~)', 'emerging', 'goal', 'plan', 'intent', 'estimate', 'expects', 'potential', 'scheduled', 'may' and 'will' or similar words suggesting future outcomes or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. In respect of the FLS, the Company has made certain assumptions that management believes are reasonable at this time. The assumptions include that the Company will have sufficient financial resources for sampling and prospecting this year and that the Acquisition will receive TSXV approval, however, there can be no assurance that such assumptions and statements will prove to be accurate and actual results could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from any FLS include, but are not limited to, limited capital or access to additional capital for prospecting, delays in obtaining or failures to obtain required TSXV, failure to complete the Acquisition, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, regulatory approvals and other factors. FLS are subject to risks, uncertainties and other factors that could cause actual results to differ materially from expected results.
Potential shareholders and prospective investors should be aware that these statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the FLS. Shareholders are cautioned not to place undue reliance on FLS. By their nature FLS involve numerous assumptions, inherent risks and uncertainties, both general and specific that contribute to the possibility that the predictions, forecasts, projections and various future events will not occur. Solstice undertakes no obligation to update publicly or otherwise revise any FLS whether as a result of new information, future events or other such factors which affect this information, except as required by law.
Historical Sampling and Drilling Data and Information
The sampling and drilling data and information presented in this news release (the 'Historical Exploration Information') is historical in nature. The reader is cautioned that the Historical Exploration Information is based on prior data and reports previously prepared by third parties without the involvement of Solstice. Solstice has not undertaken any independent investigation, nor has it independently analyzed the results of the Historical Exploration Information in order to verify the results. The reader is cautioned not to treat Historical Exploration Information, or any part of it, as current and that a qualified person has not done sufficient work to verify the results and that they may not form a reliable guide to future results. No independent quality assurance/quality control protocols are known for these historic samples and drill holes and therefore the Historical Exploration Information may be unreliable. Solstice considers these historical drill results relevant as the Company will use this data as a guide to plan future exploration and drilling programs. Solstice considers the data to be reliable for these purposes, however, the Company's future exploration work will include verification of the data through drilling.