TORONTO, Aug.  04, 2022  (GLOBE NEWSWIRE) -- Evergold Corp. (&#x201C;Evergold&#x201D; or the &#x201C;Company&#x201D;) (TSX-V: EVER, OTC: EVGUF). The Company is pleased to provide an updated exploration model (Figure 1) for its 100% owned Holy Cross Au-Ag property, located in central B.C approximately 30 kms south of Fraser Lake, in advance of fully-financed plans to carry out up to 2,500 metres of drilling, commencing in October. The Holy Cross property has drive-on access, moderate topography, is largely treeless and can be drilled year-round. The property has in the past attracted the attention of major mining companies including Noranda (1987-1989), Kennecott (1994), and Phelps Dodge (1995-1997) for its large-scale geochemical anomalies and potential to host epithermal-style, felsic intrusion-related Au-Ag mineralization with some similarities, such as in the age of the host rocks, elevated silver geochemistry, and presence of extensive silicification and pyritization, to the region&#x2019;s Blackwater deposit, presently being developed by Artemis Gold, and hosting published resources of almost 12 million ounces of gold, and 122 million ounces of silver. Prior operators at Holy Cross carried out some 2 kilometres of trenching, along with considerable soil geochemical sampling, geologic mapping, and local induced polarization (&#x201C;IP&#x201D;) surveys. However, the target areas on the property were never drilled, leaving the potential for a significant discovery intact.

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