CEO.CA Chairman's Briefing

(TheNewswire)

Highlights:

• 0.96 g/t gold over 19.9 metres,including 1.56 g/t gold over 7.0 metres, in a 90-metre north-east step-out hole in an area of limited historical drilling.Between 30 and 200 metres of finely disseminated chalcopyrite in these three step-out holes supporting copper potential with base metal results still outstanding.  

• Final rushed intervals completed during Goldseek’s maiden 5,000-metre program  

• 15 of 17 holes returned gold values highlighted by 4.92 g/t gold over 28.65 metres (141 Metal Factor),including 11.39 g/t gold over 9.1 metres, the 2nd best intercept on the Property to date in terms of grade and thickness (BE-21-02).  

• A follow-up drill program is being planned, and commencement is targeted for late January 

November 25, 2021 - TheNewswire - London, Ontario – Goldseek Resources Inc. (CNSX:GSK.CN) (FSE:4KG) (OTC:GSKKF) (“Goldseek” or the “Company”) is pleased to announce results from the final three drill holes at the Beschefer Project, located approximately 30 kilometres southwest of Wallbridge Mining Company Limited’s (“Wallbridge”) Fenelon Gold Project on the Detour Gold Trend. BE-21-14 intersected 0.96 g/t gold over 19.9 metres, including 1.56 g/t gold over 7.0 metres, encountered in a 90-metre step-out hole in the East Zone.

FIGURE 1 - BESCHEFER ZONE LONG SECTION

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The drill grid was designed to validate and extend the modelled Central Shallow Zone and East Zone, covering approximately 700 metres of strike length following a general north-east trend. The mineralization extends from the bedrock interface down to a vertical depth of about 200 metres. The target structure dips at 40° to the southeast.

Holes reported aimed at finding the extension to the northeast at an average distance of 100 metres using three holes, BES-21-12 to BES-21-14, totalling 1,050 metres and forming a staggered fence. The program has successfully identified a possible robust extension to the mineralized system following a trend that can be evaluated at N060 degrees based on gold grade and lithological correlations. The historical drill coverage going eastward is nearly absent, possibly due to the lack of clear geophysical signals.

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VIDEO: Goldseek CEO Update

Goldseek's President & CEO Jon Deluce states, “We are very excited to announce these final extension holes from our maiden 5,000-metre program at Beschefer. BE-21-14 extends the East Zone to the northeast by 90 metres and supports the expansion potential of the Project. This hole encountered strong chalcopyrite over varied metric lengths. With all chalcopyrite occurrences combined, it results in a large envelope reaching 100 metres of core length. We look forward to receiving the base metals results, which are still outstanding.

We have started to plan our follow-up winter drill program with a targeted start in January 2022. Over the coming weeks, we will provide an updated 3D model and an overview of our drill strategy for our winter follow-up program.”

East Zone Extension Highlights

The best intercept from the East Zone was BE-21-14 with 0.96 g/t over 19.9m, including 1.56 g/t over 7.0m located at a vertical depth of around 150 metres. The mineralized interval is hosted in a breccia highlighted by the heterogenous composition of alteration assemblage in the form of cloudy secondary feldspath, quartz, iron carbonate and sericite. Fine pyrite is located in the porosity, disseminated or concentrated in a fine stringer at various concentrations between 1 and 5%. Hole BE-21-14 intersected the mineralized structure about 100 metres down dip from historical hole B14-21 characterized by anomalous gold values.

Hole BE-21-12 returned a low-grade interval of 0.36 g/t over 6.75 metres, including 1.03 g/t over 1.3m. In this case, the gold enrichment straddles the faulted contact between a carbonatized and ductilly deformed mafic host rock and a feldspathized breccia at the footwall developed in intermediate flows. Hole-21-12 intercepted the mineralized structure 125 metres down dip from BE-21-14.

No significant results were obtained from the targeted structure in hole BE-21-13. A strong chloritized ductile deformation zone was cut over 20 metres in length. This last hole is offset from BE-21-13 and BE-12-14 by about 30 metres along strike. As for BE-21-13, It has intercepted the targeted structure about 100 metres down dip from BE-21-14.

Overall, the East Zone geological environment is distinct with the predominance of felsic rocks at the hanging wall of the gold-bearing structure, collared and crosscut over 150 to 200-metre lengths. In this context, partial quartz-sericite alteration affects an interlayered sequence of porphyric felsic flows and volcanic breccia layers. Pyritization is widespread with common disseminated and fractures filling chalcopyrite. Described chalcopyrite occurrences represent continuous intervals going from 30 to 230 metres along holes lengths.

RUSHED RESULTS FROM FINAL 3 HOLES

* Stated lengths are core lengths as drilled. True widths are estimated to be between 85% and 100% of reported core length intervals.

Figure 2: BE-21-14, mineralized interval showing the brecciated texture

Results from individual samples displayed: 0.745 g/t (E6442371), 2.26 g/t (E644374), 0.657 (E6442378)

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The program was carried out under the supervision of Martin Demers, P.Geo and a consultant for Goldseek Resources, the qualified person responsible for this news release. The field program was run by SL Exploration. The drill core was split at the Technominex facility in Rouyn-Noranda with half sent to AGAT Labs in Val D’Or, QC, and fire assayed with an AA and gravimetric finish. Assays on metallic sieving are performed on whole samples greater than 10 g/t gold and samples containing visible gold. Duplicates, standards and blanks were inserted into the sample stream.

About the Beschefer Project:

• Advanced gold exploration project with significant near-term resource potential 

• Located in a favourable orogenic gold setting 45 km northeast of the Casa Berardi Mine and 30 km southwest of Wallbridge’s Fenelon Gold Project. 

• Highlights of the best intersections include 55.63 g/t gold over 5.57 sin hole BE13-038 (including 224 g/t over 1.23m ; 13.95 g/t over 0.68m and 13.70 g/t over 0.73m), 13.07 g/t gold over 8.75 s in hole B12-014 (including 58.5 g/t over 1.5m), 3.56 g/t gold over 28.4 s in hole B14-006 (including 7.42 g/t over 5.5m), 10.28 g/t gold over 8.00 s in hole B14-35 (including 86.74 g/t over 0.60m), and 12.40 g/t gold over 3.78 s in hole B11-003. True width in these sections vary between 89% and 99% of the intercepted width. 

• The mineralization shows high-grade gold-bearing structures hosted in a lower grade envelope, highlighting the regional potential along the already defined shear zones on the Property. 

• Continuous large-scale gold-bearing structure (B-14 Zone) with known continuity and additional known parallel mineralized shear zones. 

Qualified Person

This press release was reviewed and approved by Martin Demers, P.Geo,ogq No 770, who is a qualified person as defined under National Instrument 43-101, and responsible for the technical information provided in this news release.

ON BEHALF OF THE BOARD

Jonathon Deluce

Chief Executive Officer

Telephone: 226-271-5170

For more information, please contact:

Goldseek Resources Inc.

E-mail: goldseekresources@gmail.com

The reader is invited to visit Goldseek's web site https://www.goldseekresources.com/

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

This news release contains certain statements that may be deemed “forward-looking statements” with respect to the Company within the meaning of applicable securities laws, including statements with respect to the Company’s future plans of Beschefer. 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, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, the Company’s ability to obtain all requisite approvals, including approval of the Canadian Securities Exchange and securities regulatory authorities, if required for a transaction or financing, the Company’s ability to raise sufficient capital to fund its obligations under its property agreements going forward, to maintain its mineral tenures and concessions in good standing, to explore and develop Beschefer or its other projects and for general working capital purposes, changes in economic conditions or financial markets, the inherent hazards associates with mineral exploration, changes in general economic conditions, the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop its projects and if obtained, to obtain such permits and consents in a timely fashion relative to the Company’s plans and business objectives for the projects, changes in environmental and other laws or regulations that could have an impact on the Company’s operations, compliance with environmental laws and regulations, aboriginal title claims and rights to consultation and accommodation, dependence on key management personnel and general competition in the mining industry. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by law, 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.

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