Dryden Gold Corp. reported assay results from its Phase 3 drill program testing the Elora Gold system. Drill hole KW-24-008 returned multiple intercepts of both quartz veining and sulphide mineralization assaying 14.10 g/t gold over 7.54 meters including 43.81g/t gold over 1.42 meters and 92.10 g/t gold over 0.30 meters. The hole targeted the depth extension of historic drilling with visible gold being noted at 211.9 meters. The Company also drilled its highest-grade intercept to date in the Gold Rock Camp, with drill hole KW-24-003 returning 53.51 g/t gold over 1.05 meters including 181.00 g/t gold over 0.30 meters. Currently, the 2023-2024 drill program is designed in 4 Phases to maximize the drill budget and expand
the footprint of gold mineralization while identifying new high-grade gold occurrences. Historic drilling in the Gold Rock Camp was primarily focused on a single identified high-grade shoot, on the Big Master 2. Results and interpretation from Phases 1 & 2, released February 21, 2024, identified three additional high-grade shoots, including drill hole KW-23-009A which intersected 26.11 g/t gold over 3.16 meters on the parallel Big Master 1. In addition, two significant step-out holes confirmed the Big Master gold system over 1.5 kilometers. The Phase 3 results have proven a third near-surface high-grade parallel gold system further expanding the footprint of the Gold Rock Camp which has over 20 kilometers of potential strike length. The program can be defined with three specific objectives: to test high-grade controls on the Elora system, complete extensional holes from the known mineralization and to test larger step-out holes along strike of the Elora gold system. In these systems it is important to define the envelop of mineralization and the high-grade pods or shoots will be captured within the overall mineralized footprint. This high- grade is typically defined by geological controls and has a predictable periodicity while being a part of the overall mineralized system. This can be seen in similar orogenic deposits, such as Red Lake. Three holes, KW-24-008, KW-24-001 and KW-24-002 were designed to target and test higher-grade controls within the Elora system. Hole KW-24-008 was drilled at a 340-degree azimuth targeting the depth potential of Elora by testing 150-meter vertical depth in the system. Historic drillholes were used in the planning phase of this program, but due to the age of the holes, new drilling was needed in this area. Hole KW-24-008 intersected multiple intercepts of both quartz veining and sulphide mineralization with visible gold being noted at 211.9 meters depth (Figure 2). This hole returned 14.10 g/t gold over 7.54 meters including 43.81 g/t over 1.42 meters and 92.10 g/t gold over 0.30 meters. Drill hole KW-24-001 was drilled at a 340-degree orientation targeting the southern edge of the known Elora mineralization (Figure 3). This hole intercepted multiple zones of both quartz veining and sulphidation with up to 15% pyrite and returned 2.30 g/t gold over 4.35 meters including 15.90 g/t gold
over 0.33 meters. Multiple intercepts of over 1 g/t material was observed in the hanging wall of the Elora system. Drilled from the same setup as KW-24-001 at a 316-degree azimuth, drill hole KW-24-002 was focused on understanding the mineralization potential the mineralization south-west of hole KW-24-001. Pyrite mineralization was observed and returned 3.23 g/t gold over 1.98 m. Three holes were planned to investigate the near-deposit extension potential, KW-24-003, KW-24-004 and KW-24-007. Drill hole KW-24-003 was drilled approximately 160 meters along strike of KW-24-008 at a 306-degree azimuth. Holes KW-24-004 and KW-24-007 were drilled from the same set up 185 meters from KW-24-008. All three holes intersected multiple intervals of sulphidation with up to 60% pyrite and with an average of 20% pyrite. Hole KW-24-003 intersected 53.51 g/t gold over 1.05 meters including the highest-grade intercept Dryden Gold has drilled to date, 181.00 g/t gold over 0.30 meters. Hole KW-24-004 returned 2.42 g/t gold over 4.87 meters including 12.70 g/t gold over 0.30 meters. Two holes, KW-24-005 and KW-24-006 were designed to test along strike of the known Elora system, 225 meters and 281 meters respectively from hole KW-24-008. Both holes intercepted mineralization (grades over 0.80 g/t gold) with hole KW-24-006 returning 1.22 g/t gold over 2.07 meters showing that the mineralized structure continues to the south where the company is identifying future step out targets.