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GoldHaven Field Team Discovers Copper Mineralization at Smoke Mountain, BC

14.10.2021  |  Newsfile

Vancouver, October 14, 2021 - GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) (FSE: 4QS) ("GoldHaven" or the "Company") announces that a 7-day reconnaissance mapping, prospecting and sampling program has been completed at the Company's Smoke Mountain Property located in the Central British Columbia porphyry/ polymetallic Belt. The Smoke Mountain project is strategically located adjacent to Surge Copper's claims located 15 km northeast of Berg and 23 km north of the Imperial Metals Huckleberry project. Surge Copper recently intersected 495 metres grading 0.54% copper equivalent including 355 metres grading 0.62% copper equivalent and 126 metres grading 0.85% copper equivalent on their Ootsa project (SURG.V News Release October 12th, 2021; Figure 1).

Daniel Schieber, GoldHaven's CEO, stated, "GoldHaven is well hedged with its gold projects but also its copper exposure through Smoke Mountain, which is showing very positive signs of copper endowment from our 2021 Phase I exploration program. Smoke Mountain is situated in an 85 km belt of rocks that are prospective for gold and silver epithermal deposits as well as porphyry copper-gold deposits. The company is excited that initial mapping, sampling and prospecting has identified significant copper oxide and sulphide mineralization. "



Figure 1. Selected samples from initial mapping, prospecting, and sampling at Goldhaven's Smoke Mountain Project, located the Central British Columbia porphyry/polymetallic Belt including A) granodiorite with fracture infill of chalcopyrite, malachite, quartz and carbonate, and B) quartz epidote vein with disseminated and 1-3mm blebs of chalcopyrite with malachite.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/7246/99574_85373f93042eeaca_002full.jpg



Figure 2. The location of the Smoke Mountain property in the Central BC porphyry-epithermal belt. Note, the mines, deposits and prospects in this part of BC provide geologic context for the Smoke Mountain property, but these are not necessarily an indication that the Property hosts similar grades or tonnages of mineralization.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/7246/99574_85373f93042eeaca_003full.jpg

Field Program at Smoke Mountain

GoldHaven has completed a 7-day Phase 1 reconnaissance mapping, sampling, and prospecting exploration program. Mineralization and alteration have been identified in the field in the early stages of the program:

  • Mineralization is present and has been sampled in several locations on the property.

  • Sampling includes rocks from outcrops with chalcopyrite, malachite and pyrite occurring as infill within fracture zones.

  • Blebs and disseminated chalcopyrite and pyrite have also been noted, associated with epidote alteration and quartz veining.

  • Significant porphyry-style alteration footprints have been observed in outcrop including secondary biotite alteration in addition to quartz-sericite-pyrite alteration.

The Smoke Mountain Project constitutes a strategic land position within an 85 kilometer long belt of copper, gold and silver endowed magmatic-hydrothermal mines, deposits, and occurrences in west central British Columbia (Figure 1). Historic work at Smoke Mountain includes mapping and sampling which highlights the presence of high-grade gold mineralization, in addition to a significant surface area with mineralized veins and alteration footprints. The Smoke Mountain land position is road accessible and highly prospective for gold and copper.

Path Forward

In addition to Smoke Mountain, GoldHaven controls 251 km2 across 7 assets in the highly prospective Maricunga Gold Belt. The company completed Phase 1 and is preparing its Phase 2 drill campaigns. These targets have been designated as high-priority based on extensive and pervasive alteration, favourable geology, highly anomalous rock geochemistry results, and their relative proximity to existing major deposits. GoldHaven now controls 228 km2 in the highly prospective Central Newfoundland Gold Belt and is preparing the two projects for exploration.

Qualified Person

Daniel MacNeil, P.Geo, a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has read and approved all technical and scientific information contained in this news release.

News Release References

1 Giroux, G.H., 2012. MINERAL RESOURCE UPDATE On The POPLAR DEPOSIT, OMINECA MINING DIVISION BRITISH COLUMBIA. Prepared for Lions Gate Metals Inc. Prepared by Giroux Consultants Ltd. Effective Date: March 30, 2012 https://www.universalcopper.com/UNV_Presentation_Web.pdf?a28db

2 https://surgecopper.com/projects/berg-joint-venture/

3 Christensen, K., Connaughton, G.R., and Ogryzolo, P., 2011. TECHNICAL REPORT ON THE MAIN ZONE OPTIMIZATION HUCKLEBERRY MINE OMINECA MINING DIVISION BRITISH COLUMBIA, CANADA. Prepared for Huckleberry Mines Ltd. and Imperial Metals Corp. November 22, 2011 The effective date of the exploration data is September 1, 2011, Amended May 11, 2016. https://www.imperialmetals.com/assets/docs/2016-hml-43-101-technical-report-on-the-main-zone-optimization.pdf

4 Burga D., Barry J., Grant D., Hutter J., Puritch E., Sutcliffe, R.H., and Wu, Y., 2019. INITIAL MINERAL RESOURCE ESTIMATE AND TECHNICAL REPORT ON THE NUMBER 3 VEIN, SILVER QUEEN PROPERTY, OMINECA MINING DIVISION, BRITISH COLUMBIA, CANADA. Prepared for NEW NADINA EXPLORATIONS LIMITED

NI 43-101 & 43-101F1 TECHNICAL REPORT by P&E Mining Consultants Inc. Effective Date: July 15, 2019 Signing Date: August 29, 2019. https://equitymetalscorporation.com/site/assets/files/3673/sq_ni43-101_aug29_2019.pdf

5https://sunsummitminerals.com/news/2021/sun-summit-drills-31-6-g-t-gold-over-4-0-metres-including-246-g-t-gold-over-0-5-metres-in-the-trench-zone-and-1-07-g-t-gold-over-109-metres-including-7-17-g-t-gold-over-5-2-metres-in-the-horseshoe-zo/

6 https://surgecopper.com/news-releases/surge-copper-intersects-495-metres-of-0.54-cueq-including-126-metres-of-0.85-cueq-at-west-seel-and-previews-upcoming-news-flow/

About GoldHaven Resources Corp.

GoldHaven Resources is a Canadian precious metals exploration company focused on acquiring and unlocking highly prospective gold projects in the Central Newfoundland Gold Belt (Canada) & the Maricunga Gold Belt (Chile). All properties have large scale discovery potential and all properties in Chile are drill-ready. GoldHaven currently holds the Pat's Pond and O'Neill projects covering approximately 228 km2 of mineral tenements in Newfoundland, Canada. The Company also holds seven Chilean projects covering approximately 251 km2; many in close proximity to renowned discoveries or large precious metals mines including Salares Norte (Gold Fields), Esperanza (TDG), La Coipa (Kinross), Cerro Maricunga (Fenix Gold), Lobo Marte (Kinross), Volcan (Volcan), Refugio (Kinross/Bema), Caspiche (Goldcorp/Barrick), Cerro Casale (Goldcorp/Barrick).

On Behalf of the Board of Directors

Daniel Schieber

For further information, please contact:

Bonn Smith,
Head of Business Development

www.goldhavenresources.com
bsmith@goldhavenresources.com
Office Direct: (604) 638-3073

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE- Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statements Regarding Forward-Looking Information

This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, the intended use of the proceeds received from the Offering, the possible acquisition of the Projects, the Company's expectation that it will be successful in enacting its business plans, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believes", "will", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "potential", "scheduled", or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that investor interest will be sufficient to close the Offering, and the receipt of any necessary regulatory or corporate approvals in connection with the Offering and the Assignment, that there will be investor interest in future financings, market fundamentals will result in sustained precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration and development of the Company's projects in a timely manner, the availability of financing on suitable terms for the exploration and development of the Company's projects and the Company's ability to comply with environmental, health and safety laws.

The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, the estimation or realization of mineral reserves and mineral resources, the inability of the Company to obtain the necessary financing required to conduct its business and affairs, as currently contemplated, the inability to close the Offering, the inability of the Company to enter into definitive agreements in respect of the Letters of Intent which are the subject of the Assignment, the timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital, future prices of precious metals, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in future financings, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any necessary permits, consents, approvals or authorizations, including by the Exchange, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks related to joint venture operations, and other risks and uncertainties disclosed in the Company's latest interim Management's Discussion and Analysis and filed with certain securities commissions in Canada. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/99574


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