CEO.CA Chairman's Briefing

ROUYN-NORANDA, Québec, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Radisson Mining Resources Inc. (TSX-V: RDS, OTCQB: RMRDF) (“Radisson” or the “Company”) is pleased to announce additional results from eleven diamond drill holes completed at its 100% owned O’Brien Gold Project (“O’Brien” or the “Project”) located in the Abitibi region of Quebec (see location). These results are part of Radisson’s ongoing and fully-funded 35,000 metre drill program aimed at expanding the scope of gold mineralization and Mineral Resources at the Project.

Gold mineralization at the O’Brien Project is characterized by narrow and high-grade quartz-sulphide veins with prolific visible gold developed within rocks of the Piché Group adjacent to the Larder Lake-Cadillac Break (“LLCB”). The historic O’Brien mine produced over half a million ounces of gold from such veins at an average grade exceeding 15 grams per tonne (“g/t”), and today’s results demonstrate the same characteristic narrow and very high-grade vein intercepts.

Results Highlights:

• OB-24-320 intersected 137.00 g/t gold (“Au”) over 1.0 metres within a mineralized interval of 24.74 g/t Au over 6.0 metres, and 7.60 g/t Au over 3.0 metres within a mineralized interval of 4.61 g/t Au over 6.0 metres;
• OB-24-316 intersected 74.40 g/t Au over 1.3 metres within a mineralized interval of 42.31 g/t Au over 2.3 metres, and 8.76 g/t Au over 1.0 metres within a mineralized interval of 3.50 g/t Au over 6.1 metres;
• OB-24-317 intersected 20.20 g/t Au over 1.0 metres; and
• OB-24-313 intersected 6.47 g/t Au over 3.7 metres.

Matt Manson, President & CEO, commented: “Today’s drill results further illustrate the type of vein intercepts, very-high grades and abundant visible gold that the O’Brien Gold Project is known for. These latest results are from predominantly Trends 1 and 2, closer to the historic O’Brien mine, where we are seeing, perhaps, the best examples of the extensive high-grade near-vertical shoots that were so important for previous gold production. This is illustrated by the new drill hole OB-24-320 (137 g/t Au over 1.0 metres within a mineralized interval of 24.74 g/t Au over 6.0 metres) which is 290 metres down plunge on the same ‘Trend 1’ section and developed within the same Piche Group S3p greywackes as the previously published drill hole OB-23-284 (241 g/t Au over 1.0 metres within 81.83 g/t Au over 3.0 metres; Figures 2 & 3). Our drilling to date has been aimed at in-filling gaps in the geological model in the 200-500 metre depth range. Current drilling includes deeper step-out holes below Trends 0 and 1 and below the depth of the existing Mineral Resource. We now have two rigs at O’Brien and are approximately half-way through our fully-funded 35,000 metre drill program of resource expansion and step-out exploration. We will be reporting additional drill results on a regular basis as they become available.”

^{Notes on Calculation of Drill Intercepts
The O’Brien Gold Project March 2023 Mineral Resource Estimate (“MRE”) utilizes a 4.50 g/t Au bottom cutoff, a US$1600 gold price, a minimum mining width of 1.2 metres, and a 40 g/t Au upper cap on composites. Intercepts presented in Table 1 are calculated with a 3.00 g/t Au bottom cut-off, representing the lower limit of cut-off sensitivity presented in the March 2023 MRE. This methodology differs from previous Radisson disclosure, and intercepts reported in this release may not be directly comparable to historical published intercepts. Sample grades are uncapped. True widths, based on depth of intercept and drill hole inclination, are estimated to be 40-80% of core length. Table 2 presents additional drill intercepts calculated with a 1.00 g/t bottom cut-off over a minimum 1.0 metre core length so as to illustrate the frequency and continuity of mineralized intervals within which high-grade gold veins at O’Brien are developed.}

Gold Mineralization at O’Brien

Gold mineralizing quartz-sulphide veins at O’Brien occur within a thin band of interlayered mafic volcanic rocks, conglomerates, and porphyric andesitic sills of the Piché Group occurring adjacent to the east-west oriented LLCB. Gold, along with pyrite and arsenopyrite, is typically associated with shearing and a pervasive biotite alteration, and developed within multiple Piché Group lithologies and, occasionally, the hanging-wall Pontiac meta-sedimentary rocks.

Figure 1: Visible Gold in DDH OB-24-320 at 604.8 metres depth (top), OB-24-316 at 648.1 metres depth (middle) and OB-24-317 at 479.5 metres depth (bottom).

As mapped at the Historic O’Brien mine, and now replicated in the modern drilling, individual veins are generally narrow, ranging from several centimetres up to several metres in thickness. Multiple veins occur sub-parallel to each other, as well as sub-parallel to the Piché lithologies and the LLCB. Individual veins have well established lateral continuity, with high-grade near-vertical grade shoots developed over significant lengths. Historic gold production was derived predominantly from one such grade shoot, over a vertical extent of at least 1,000 metres and with a reported average recovered grade of over 15 g/t.

The Project has estimated Indicated Mineral Resources of 0.50 million ounces (1.52 million tonnes at 10.26 g/t Au), with additional Inferred Mineral Resources of 0.45 million ounces (1.62 million tonnes at 8.64 g/t Au). Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

Current exploration is focussed on delineating well developed vein mineralization to the east of the historic mine, with additional high-grade shoots becoming evident in the exploration data over what has been described as a series of repeating trends (“Trends 0 to 5”, Table 1 and Figures 1 and 2).

Today’s Drill Results

Today’s results are from eleven drill holes over 5,622 metres in Trends 1, 2 and 3. Visible gold was observed in eight holes, including impressive examples in holes OB-24-320 and OB-24-317 (see Figure 1). Holes were drilled on northerly declinations at inclinations of between -50 and -75 degrees, providing a high angle of incidence with the southerly dip of the Piché Group rocks and the vein mineralization. Each drill hole was targeted at gaps within the existing geological model, between depths of -200 and -500 metres where, on the basis of previous drilling, Mineral Resources were absent or of lower confidence.

QA/QC

All drill cores in this campaign are NQ in size. Assays were completed on sawn half-cores, with the second half kept for future reference. The samples were analyzed using standard fire assay procedures with Atomic Absorption (AA) finish at ALS Laboratory Ltd, in Val-d’Or, Quebec. Samples yielding a grade higher than 5 g/t Au were analyzed a second time by fire assay with gravimetric finish at the same laboratory. Mineralized zones containing visible gold were analyzed with metallic sieve procedure. Standard reference materials, blank samples and duplicates were inserted prior to shipment for quality assurance and quality control (QA/QC) program.

Qualified Person 

Disclosure of a scientific or technical nature in this news release was prepared under the supervision of Mr. Richard Nieminen, P.Geo, (QC), a geological consultant for Radisson and a Qualified Person for purposes of NI 43-101. Mr. Nieminen is independent of Radisson and the O’Brien Gold Project.

Radisson Mining Resources Inc.

Radisson is a gold exploration company focused on its 100% owned O’Brien Gold Project, located in the Bousquet-Cadillac mining camp along the world-renowned Larder-Lake-Cadillac Break in Abitibi, Québec. The Bousquet-Cadillac mining camp has produced over 25 million ounces of gold over the last 100 years. The Project hosts the former O’Brien Mine, considered to have been Québec’s highest-grade gold producer during its production. Indicated Mineral Resources are estimated at 0.50 million ounces (1.52 million tonnes at 10.26 g/t Au), with additional Inferred Mineral Resources estimated at 0.45 million ounces (1.62 million tonnes at 8.64 g/t Au). Please see the NI 43-101 “Technical Report on the O’Brien Project, Northwestern Québec, Canada” effective March 2, 2023, Radisson’s Annual Information Form for the year ended December 31, 2023 and other filings made with Canadian securities regulatory authorities available at www.sedar.com for further details and assumptions relating to the O’Brien Gold Project.

Figure 2: Long Section and Plan View of Gold Vein Mineralization and Mineral Resources at the O’Brien Gold Project, with DDH OB-24-309 to 320 illustrated.

Figure 3: Cross Section of Trend 1 locating drill hole OB-24-320 and the previously published OB-23-283 and 284 drill holes. 

For more information on Radisson, visit our website at www.radissonmining.com or contact:

Matt Manson
President and CEO
416.618.5885
mmanson@radissonmining.com

Kristina Pillon
Manager, Investor Relations
604.908.1695
kpillon@radissonmining.com

Forward-Looking Statements

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections, and interpretations as at the date of this news release. Forward-looking statements including, but are not limited to, statements with respect to planned and ongoing drilling, the significance of drill results, the ability to continue drilling, the impact of drilling on the definition of any resource, the ability to incorporate new drilling in an updated technical report and resource modelling, the Company's ability to grow the O’Brien project and the ability to convert inferred mineral resources to indicated mineral resources. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements Forward-looking information is based on estimates of management of the Company, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the drill results at O’Brien; the significance of drill results; the ability of drill results to accurately predict mineralization; the ability of any material to be mined in a matter that is economic. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Company believes that this forward-looking information is based on reasonable assumptions, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. The Company does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law. These statements speak only as of the date of this news release.

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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/3022f833-aaa9-48b6-b065-85632c09b1b6
https://www.globenewswire.com/NewsRoom/AttachmentNg/ed8af9b8-43c2-49fb-ad70-2167624e5d0f
https://www.globenewswire.com/NewsRoom/AttachmentNg/63f630fb-f3af-42cb-9f0a-a1cec1eef495

Figure 1:

Visible Gold in DDH OB-24-320 at 604.8 metres depth (top), OB-24-316 at 648.1 metres depth (middle) and OB-24-317 at 479.5 metres depth (bottom)

Figure 2:

Long Section and Plan View of Gold Vein Mineralization and Mineral Resources at the O’Brien Gold Project, with DDH OB-24-309 to 320 illustrated.

Figure 3:

Cross Section of Trend 1 locating drill hole OB-24-320 and the previously published OB-23-283 and 284 drill holes.