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ML Gold Reports Final Three Holes from 2018 Program Including 0.3% Cu, 0.39% CuEQ over 94.5 Metres

09.01.2019  |  Newsfile

Vancouver, January 9, 2019 - ML Gold Corp. (TSX-V: MLG; FSE: XOVN.F) ("ML Gold" or the "Company") reports the final three holes of the 2018 diamond drilling program. Porphyry copper mineralization has now been intersected in holes 014, 015 and 016 (DD18SS014 - DD18SS016). Well-developed copper mineralization discovered at the Stars Project has a mineralized strike length of greater than 400 metres, width of greater than 200 meters and depth of greater than 350 metres and remains open in all directions. Significant intersections from the final three holes are set out in table 1 below.

The Stars Project is located in Central British Columbia, Canada, 60km southwest of the resource town of Houston, B.C. The project site is low-elevation, gentle topography, and is accessible by all-season main line resource roads.

Table 1: Significant intersections from holes 14, 15 and 16 (DD18SS014, DD18SS015, DD18SS016)

Hole DD18SS015
From (m) To (m) Interval (m) Cu (%) Mo (%) Ag (g/t) Au (g/t) CuEQ(%)
157.9 368.2 210.3 0.21 0.011 0.86 0.03 0.28
incl. 215.8 310.3 94.5 0.30 0.013 1.30 0.04 0.39
and incl. 231.0 298.1 67.1 0.35 0.015 1.56 0.05 0.45
444.4 454.3 (EOH) 9.9 0.45 0.002 0.54 0.02 0.48

Hole DD18SS014
From (m) To (m) Interval (m) Cu (%) Mo (%) Ag (g/t) Au (g/t) CuEQ(%)
29.6 185.0 155.4 0.22 0.004 0.93 0.02 0.26
incl. 57.0 121.0 64.0 0.34 0.006 1.71 0.03 0.40
233.78 474.6 240.8 0.145 0.006 0.43 0.02 0.19
incl. 236.83 349.61 112.8 0.20 0.005 0.56 0.02 0.24

Hole DD18SS016
From (m) To (m) Interval (m) Cu (%) Mo (%) Ag (g/t) Au (g/t) CuEQ(%)
72.2 282.5 210.3 0.12 0.002 0.42 0.02 0.14
(1) The intervals reported in these tables represent drill intercepts and insufficient data is available at this time to state the true thickness of the mineralized zone
(2) CuEq (Copper Equivalent) values are calculated using metal spot prices at market close on August 20th 2018 USD $2.70 / lb Cu, $11.80 / lb Mo, $14.75 / oz Ag, $1195 / oz Au

Table 2: Stars drill hole collar information

Hole ID Assays UTM 83E UTM 83N Elevation Azimuth Dip Length (m)
DD18-SS014 Reported 613825 6010867 908 208° -60° 474.57
DD18-SS015 Reported 613796 6010613 868 028° -80° 454.27
DD18-SS016 Reported 613541 6010530 861 028° -60° 450.19

Maps

Figure 1: Plan Map of Tana Zone Area Drilling at Stars Project



To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5509/42008_c5588b82a44b5a96_001full.jpg

Figure 2: Drill cross-section A-A' from Figure 1 at the Stars Project; top image: plan map showing sections location over airborne magnetics; bottom image: cross-section with copper assays and geologic interpretation.



To view an enhanced version of this Fihure 2, please visit:
https://orders.newsfilecorp.com/files/5509/42008_c5588b82a44b5a96_002full.jpg

Additional maps are available on the Stars Project page at www.mlgoldcorp.com

Quality assurance/quality control procedures:

All drill core was logged, photographed, cut and sampled by ML Gold personnel. Prior to shipment to MS Analytical's sample preparation facility in Langley, B.C., certified reference material standards and blanks were inserted at a ratio of approximately one in every 10 drill core samples. Base metal assays are determined by IMS-230 4-acid digestion with ICP-AES/MS finish method, which reports results as parts per million (ppm). All analyses that reach the overlimit of IMS-230 are reanalyzed with an ore-grade method. The analytical results are verified with the application of industry-standard quality control and quality assurance procedures. The gold assays are determined by FAS-111 fire assay method which reports results in parts per million (equivalent to grams per tonne). Any samples with a fire assay that report gold concentrations equal to or higher than 10.0 g/t Au are analyzed by metallic screen method (Au-SCR24).

Adrian Smith, P.Geo., is the qualified person for the Company as that term is defined in National Instrument 43-101, and has supervised the technical information presented within this news release.

ABOUT ML GOLD CORP.
ML Gold Corp. is a Canadian listed Company, focused on creating shareholder value through discoveries and strategic development of mineral properties in Canada and the United States.

For additional information please visit the Company's website at www.mlgoldcorp.com. You may also email info@mlgoldcorp.com or call investor relations at (604) 669-2279.

ML Gold Corp.
"Adrian Smith"
Adrian Smith
President

NEITHER THE 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.

This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of US$ for CDN$, changes in exploration costs and government royalties or taxes in Canada, the United States or other jurisdictions and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.


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