CEO.CA Chairman's Briefing

TORONTO, March 30, 2023 /CNW/ - Orford Mining Corporation (TSXV: ORM) (Orford) is pleased to report that it has drilled a possible new gold bearing horizon 150 meters to the north of the South Gold Zone on the Joutel Eagle Property ("Joutel Eagle"). Hole 23-JE-007 has reported 1.3 g/t Au over 16.1 metres from 201.0 metres including higher grade intervals of up to 4.5g/t Au over 1.1 m, in a previously untested area of the Joutel Eagle Property  (Table 1, Figure 1). New Results from hole 23-JE-015 in the South Gold Zone reported 1.10g/t Au over 54.7 metres including higher grade intervals of up to 9.1g/t over 0.4 m (Table 1, Figure 1). This hole was drilled in the South Gold Zone, 25 metres southeast of the previously reported results from 23-JE-004 (14.6 metres of 4.1 g/t).  The majority of assays from the recently completed 2023 drill program are pending (Table 2). Note that all drilling intervals are down-hole lengths. True thicknesses cannot be estimated with available information.

David Christie, President and CEO of Orford, commented, "The 2023 drill campaign on our Joutel Eagle property has proven that the property has tremendous potential value with the discovery of a new zone 150 metres to the north of the South Gold Zone.  Drilling on the South Gold Zone continues to prove mineralized continuity along strike which was the main purpose of the program."

The Joutel Eagle Property is located along the fertile Casa-Berardi Structural Zone and historical Eagle-Telbel Mine Trend in the Abitibi Greenstone belt. A total of 14 holes and 2,535 metres (Table 3) have been drilled in 2023. This drilling program has tested a 400-metre strike of the South Gold Zone (Figure 1). Both the 2022¹ and preliminary 2023² drilling results Orford received to date have shown that the South Gold Zone hosts higher grade gold over wider intersections than had been reported historically. Holes 23-JE-007 and 23-JE-006 (Table 1, Figure 1) were drilled to test:

• possible parallel mineralized horizons to the north of the South Gold Zone,
• possible cross structural corridors which may contribute to concentrating gold mineralization on the property.

The gold results obtained in Holes 23-JE-007 and 23-JE-006 (Table 1) successfully demonstrate the occurrence of additional gold mineralized zones in addition to the exciting thick South Gold Zone results. All other remaining assays are pending.

Data was collected during the drill program with a core orientation tool and a full structural interpretation will be completed once all assays have been received and reported to identify 1) additional targets in the South Gold Zone, 2) secondary targets which may be associated with structures hosting higher grades oblique to the South Gold Zone, and 3) other targets along strike and parallel to the South Gold Zone to the northwest and southeast  along the Eagle mine horizon.

Table 1: Highlight of Joutel Eagle Drill hole assays received to date. All drilling intervals are downhole lengths. True thicknesses cannot be estimated with available information. Composited intervals are reported at a cut-off of 0.5g/t Au.

Table 2: Status of Assay Results Received from the 2023 Joutel Eagle Drilling Program (SGZ=South Gold Zone)

Table 3: Joutel Eagle: South Gold Zone Drill Hole Coordinates (UTM NAD83 Zone 17)

Assays

Sample shipments were sealed and shipped to AGAT Laboratories, Val-d'Or, Québec. All gold assays reported were obtained by standard fire assay on 50 gram nominal weight with an atomic absorption spectroscopy finish or by gravimetric finish in the case of overlimit and on request (methods 202551 and 202564) at AGAT Laboratories, Mississauga, Ontario. All samples were also analyzed for multi-elements, including copper and silver, using a four-acid method with an ICP-OES finish (method 201070) at AGAT Laboratories, Mississauga, Ontario. 

Drill program design, Quality Assurance/Quality Control ("QA/QC") and interpretation of results are performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are inserted at a minimum of 10% for QA/QC purposes in addition to those inserted by the lab. A subset of samples has not yet been sent for a verification assay at another lab. AGAT Laboratories are accredited by the Standards Council of Canada and found to comply with the requirements of ISO/IEC 17025:2017. 

About the Joutel Eagle Property

The property is situated just to the northwest of Agnico Eagle's past producing Eagle-Telbel operation which produced in excess of 1.1 Moz of gold³ from 1974 to 1993. The Joutel Eagle property covers 11 km of the Casa Berardi structural zone south splay (CBSZ) which is associated with several gold deposits and, together with our McClure East property, gives Orford over 17 km coverage on the prolific CBSZ. The Joutel Eagle Property sits to the north of Orford's 100% owned Joutel South Property and to the west of Orford's 100% owned McClure East property. Information from neighbouring properties is not necessarily indicative of the mineralization on Orford Mining's properties. On November 30, 2021 Orford announced that it had entered an option to acquire 100% of the 50 square kilometer Joutel Eagle Project from Globex Mining Enterprises Inc. (TSX: GMX) (OTCQX International: GLBXF) (Frankfurt: G1MM). 

About Orford Mining Corporation

Orford Mining is a gold and critical mineral explorer focused on highly prospective and underexplored areas of Northern Quebec. Orford's principal assets are the Qiqavik, West Raglan and lithium exploration projects comprising a land package totaling over 111,000 hectares in the Cape Smith Belt of Northern Quebec. The Qiqavik Project hosts several new high-grade gold discoveries along a mineralized trend in excess of 40 km. The West Raglan Project hosts a number of high-grade Raglan-style nickel/copper/platinum group metal discoveries along a 55 km mineralized trend. In early 2023 Orford acquired large claim blocks targeting Lithium in the Nunavik Region. These Lithium claim blocks have been carefully selected as having promising lithium potential after an exhaustive compilation of available data. Orford also has four property positions in the Joutel region of the Abitibi District of Northern Quebec, which hosts historical deposits such as the Eagle/Telbel, Joutel Copper, Poirier Copper, and Vezza deposits. Orford continually seeks new gold exploration opportunities in North America. Orford's common shares trade on the TSX Venture Exchange under the symbol ORM. This information from neighbouring properties is not necessarily indicative of the mineralization on Orford Mining's properties.

Qualified Person

The disclosure of scientific and technical information contained in this news release has been approved by Alger St-Jean, P.Geo., Chief Geoscientist of Orford, a Qualified Person under NI 43-101. The historical assays referred to in this release and shown in this figure were obtained from historical work reports filed with the Quebec Ministry of Energy and Natural Resources and has not been independently verified by a Qualified Person as defined by NI 43- 101.

Cautionary Statement Concerning Forward-Looking Statements

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

This news release contains "forward-looking information" including without limitation statements relating to the liquidity and capital resources of Orford and potential of one or more of the Qiqavik, and West Raglan, properties.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Orford to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of drilling; inability to raise the money necessary to incur the expenditures required to retain and advance the properties; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war; or delays in obtaining governmental approvals, failure to obtain regulatory or shareholder approvals. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Orford's filings with Canadian securities regulators available on SEDAR at www.sedar.com.

Although Orford has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward- looking statements contained herein are made as of the date of this news release and Orford disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

The TSXV has neither approved nor disapproved the contents of this news release.

SOURCE Orford Mining Corporation

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