CEO.CA Chairman's Briefing

CANADIAN SECURITIES EXCHANGE: WGC

WINNIPEG, Nov. 15, 2016 /CNW/ - Winston Gold Mining Corp. ("Winston Gold" or the "Corporation") (CSE: WGC) (OTCQB: WGMC) is pleased to announce that it has received the first assay results from its Phase-1 drilling campaign on its wholly owned Winston gold project near Helena, Montana.

• Hole W1630 intersected 18.27 g/t gold over 5 ft.
• Hole W1631 intersected 6.51 g/t over 8 ft. and 5.45 g/t over 3 ft.

"We are very excited by these drill results because they confirm our initial predictions about the high-grade nature of this gold system," commented Murray Nye, CEO and Director of Winston Gold. "We believe that these two holes may have intersected the down-dip extension of the Edna Vein Trend. If this is the case, it proves there is good continuity of these vein structures."

Hole W1630 was drilled towards the south at a dip of minus 70 degrees. It intersected 7 ft. (true width 5 ft.) averaging 0.533 ounces per ton gold (18.27 grams per tonne).  The intercept occurred at a down-hole depth of 116 ft. (35.3 metres). 

Hole W1631 was collared on the same drill pad and was drilled above hole W1630 at an angle of minus 45 degrees. It intersected two intervals of gold mineralization: 8 ft. (estimated true width 5.5 ft.) averaging 0.19 opt gold (6.51 g/t) and 3 ft. (true width) averaging 0.159 opt gold (5.45 g/t). The intercepts occurred at a down-hole depth of 174 ft. (53.0 metres) and 276 ft. (84.1 metres), respectively.

"We can see at least three mineralizing events on the Winston property and all of them are structurally controlled," stated Mr. Nye. "Understanding these structural controls is the first step to properly developing an effective mine plan."

Drill holes W1630 and W1631 were drilled to test the Edna Vein trend 820 ft. (250 metres) south of a 3-hole fan of holes that intersected the shallow dipping Edna Trend vein system in 2014. 

These three 2014 drill holes returned the following assay values. The results shown represent the diluted weighted average over a potential 5 ft. (1.5 metre) mining width. The undiluted values can be seen in the chart at the end of this press release.

• Hole W1404 intersected two high grade veins:
  • 0.253 opt (8.67 g/t) gold over 5 ft.
  • 1.256 opt (43.06 g/t) gold over 5 ft.
• Hole W1408 intersected two high grade veins:
  • 0.269 opt (9.22 g/t) gold over 5 ft.
  • 0.194 opt (6.67 g/t) gold over 5 ft.
• Hole W1409 intersected two high grade veins:
  • 0.158 opt (5.43 g/t) gold over 5 ft.
  • 0.069 opt (2.37 g/t) gold over 5 ft.

The Company's Phase 1 program consists of 15-to-20 holes (4,800 ft.) using two drill rigs that will target potential high-grade mineralization in the historic past-producing Custer Vein as well as along the Edna Vein Trend.

To date, five holes on the Edna Trend and two on the Custer Vein have been completed. Assays are still pending. 

Refer to chart below for details of the drill holes discussed in this release.

The Winston Gold Project is central to a historic precious and base metal mining district in which most of the ore was mined from tightly structurally controlled high angle fissure veins and lode/replacement zones. Reports indicate that more than 100,000 ounces of gold was recovered from these underground mines in the late 19th to early 20th century from about 150,000 tons of ore. (Earle, 1964; Schell, 1963).

Sampling Methodology, Chain of Custody, Quality Control and Quality Assurance
All sampling was conducted under the supervision of the Company's project geologists and the chain of custody from the drill to the sample preparation facility was continuously monitored. A blank or certified reference material was inserted approximately every tenth sample. The 2016 samples were delivered to Norris Labs Inc., in Norris Montana where they were crushed, pulverized and the sample pulps digested and analyzed for gold using fire assay fusion and a 50g gravimetric finish. The 2014 samples were prepared and analyzed by Contact Labs, Contact Mill and Mining Company (Philipsburg Mill), Philipsburg, Montana. The samples were also analyzed by standard gravimetric procedures.

Qualified Person
The scientific and technical content and interpretations contained in this news release have been reviewed, verified and approved by Dr. Criss Capps PhD. P.Geol., an independent consultant to Winston Gold Corp. Dr. Capps is a Qualified Person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Winston Gold

Winston Gold is a junior mining company focused on advancing high-grade, low cost mining opportunities into production. Towards that end, the Corporation has acquired two under-explored and under-exploited gold/silver mining opportunities, being the Winston Gold project near Helena, Montana, and the Gold Ridge project, near Willcox, Arizona.

The CSE has neither approved nor disapproved the information contained herein.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Forward-Looking Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Winston Gold Mining Corp. (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

SOURCE Winston Gold Mining Corp.