Edgemont Gold Corp. announced the assay results from its recent Phase II drill program at the Dungate copper-gold porphyry project, where a total of five holes totaling 2063 metres were drilled in the spring of 2022. Dungate is located 6 km south of the town of Houston in the Omineca Mining Division of B.C. Hole DG22-09: 146m @ 0.14 g/t Au; incl.

6m @ 0.50 g/t Au & 7m @ 0.46 g/t Au (this intersection was at end of hole), Hole DG22-10: 61m @ 0.08% Cu, 0.008% Mo; incl. 12m @ 0.10% Cu, 0.012% Mo 12m @ 0.33 g/t Au (this intersection was at end of hole). Hole DG22-11: 42m @ 0.12 g/t Au; incl.

18m @ 0.14 g/t Au, 0.78 g/t Ag, 0.07% Cu, 0.012% Mo 34m @ 0.015% Mo; incl. 8m @ 0.023% Mo. In addition, additional assaying of Hole 2021-04, drilled in 2021, returned an interval of 55 m @ 0.20 g/t Au.

The target for this drill program was following up on structurally controlled gold zones discovered in the 2021 Phase 1 drill program. These zones were associated with coincident magnetic and IP anomalies within and proximal to a highly altered and sulphide mineralized quartz feldspar porphyry ("QFP") intrusion. QFP was intersected in 4 holes of this Phase 2 program, with hole DG22-08 intersecting a 279 meter zone (261m - 540m) of complete quartz flooded replacement of what is interpreted as intermediate volcanics.

Gold mineralization was encountered both in the host volcanics adjacent to the QFP and within the QFP intrusive which generally had 2-10% sulphides occurring as disseminations, replacements, fracture fillings, veins, and as breccias. The surrounding volcanic host rock to the intrusion was also variably altered, presumably by the proximity to the QFP intrusive. Broad anomalous copper and molybdenum intervals were intersected in the heart of the QFP indicating pervasive mineralization, but with no higher grade concentrations (>0.20% Cu) encountered.

Drill results from 2022 have confirmed the structurally controlled gold mineralization indicated in the 2021 program with gold deposition on the periphery of the QFP and into the adjacent volcanic host rocks. In the opinion of Edgemont management, economic intersections of gold have not yet been encountered. Due to the wide spacing of the current drilling it is unknown whether a higher concentration of gold exists lateral to the currently intersected zones.

Edgemont continues to assess these latest drill results, along with prior data, and will provide an update on future exploration plans at Dungate in due course.