Gander Gold Corp. announced to provide an exploration update on its Gander North Project in Newfoundland where 28 rotary air blast ("RAB") drill holes, an exploration tool designed to prioritize first-ever diamond drilling targets, were completed in 2023. Highlights: Anomalous to significant gold mineralization was encountered in eight (8) of 11 RAB holes completed on the western side of Gander North with five (5) of these holes also intersecting mafic-ultramafic rock associated with the GRUB Line.

Anomalous mineralization was encountered in 14 of the 17 RAB holes completed on the eastern side of Gander North. This initial round of RAB drilling on each side of Gander North tested only five (5) of 14 large soil geochemistry anomalies identified at this large-scale project to date. Results warrant additional follow-up exploration at these 5 anomalies ahead of potential diamond drilling.

An exploration plan for the remaining 9 large soil geochemistry anomalies is being finalized. Gander Gold completed a total of 34 RAB drill holes across its Newfoundland properties in 2023 including three (3) at Lizard Pond (Gander South) where diamond drill targets have been outlined after 1 RAB hole cut 13.7 metres grading 1.06 g/t Au starting from surface. Gander Gold Corporation contracted the services of GroundTruth Exploration to conduct and manage the 2023 RAB drill program in Newfoundland.

RAB drilling produces rock chip samples. A representative sample for each 5-foot (1.52m) interval of drilling was collected for analyses. Once sorted and logged, all samples were shipped to SGS Canada's prep facility in Grand Falls, NL, and final analyses were performed at SGS in Burnaby, B.C. At SGS in Grand Falls, NL, individual samples were dried, crushed and pulverized (PRP89).

Analyses at SGS Burnaby consisted of a 30g Au Fire Assay (GE_FAA30V5), and a 25g sample was analysed for 49 elements by 2 Acid Leach with an ICP-MS finish (GE_ARM3V25). SGS Canada is a certified laboratory independent of Gander Gold Corporation. As part of the sampling protocol a QAQC program was adhered to and included the insertion of industry approved standards, blanks, and the insertion of field duplicates.

Alternating standards, blanks and field duplicates were part of the sampling stream and amounted to six QA/QC samples per 100 samples collected.