K9 Gold Corp. has received a report interpreting the data from the airborne geophysical survey carried out on its Stony Lake project, Newfoundland. The objective of the VTEM (Versatile Time Domain Electromagnetic) survey was to outline linear trends that demonstrate changes in resistivity due to faulting, alteration, sulphide mineralization and intrusive activity. This objective has been met, and a number of linear trends have been identified. The interpretation shows two highly significant areas of interest that are coincident with various anomalies from earlier work, and will improve company understanding of the geological setting of these areas. The two areas are the Jumper's Pond zone and Island Pond. Additionally, there are numerous indications of potential narrow vertical conductive zones in the basement rocks beneath the Botwood sediments. This new information will be used to refine plans for the upcoming 2021 field season which includes drilling. The interpretation of the VTEM data was contracted out to Campbell & Walker Geophysics Ltd, of North Vancouver BC. The main interpretive tool used was resistivity depth imaging (RDI) which converts the EM profile decay data into an equivalent resistivity versus depth cross section, by deconvolving the measured time domain EM data. RDIs provide reasonable indications of conductor relative depth and vertical extent, as well as accurate 1D layered-earth apparent conductivity /resistivity structure across flight lines. It is apparent that resistivity low (or conductivity high) zones can be mapped at all depths (to at least 600 m below surface), with locally stacked anomalies which correlate well with interpretations from the 2019 airborne magnetic survey. These stacked anomalies also correlate well with areas of known gold anomalies in lake sediments, till samples, rock samples from outcrop and boulders. In the Jumper's Pond area, which is contiguous to Sokoman's Moosehead property, there is a highly conductive zone that is interpreted to be in the basement rocks, beneath the Botwood sediments, at a depth of approximately 200m below surface. Interpretation of the 2019 airborne magnetic survey indicates that this structural zone extends from the Moosehead discovery through the northern property boundary and for approximately 1 km to the south. Exploration work carried out by Cornerstone Resources in this area in 2001 and 2002, which included ground geophysics (IP/Resistivity and magnetometer), identified various areas of interest in the same zone. That work identified numerous northwest trends which are interpreted to represent cross faulting. Work on adjacent properties has shown these cross-cutting structural trends as highly significant in the localization of gold mineralization. Eight diamond drill holes were completed by Cornerstone in 2002, four of which intersected multistage quartz veining and brecciation with associated sulphide and sulphosalt mineralization hosted by late, northwest trending structures. At Island Pond, there is a large (3000 by 500 m) relatively shallow conductive zone, possibly within the Botwood sediments, with indications of several deeper vertical conductive structures directly beneath. Historic work in this area has resulted in numerous overburden gold bearing till anomalies with coincident highly anomalous lake sediment samples, as well as a cluster of mineralized boulders. This area also correlates with quartz feldspar intrusive activity. Prospecting over this area was carried out in the fall of 2020 for which analytical results are pending. News Releases from other companies active in the Central Newfoundland Gold Belt continue to increase the profile of this newly emerging gold district. For example, on November 19, 2020 Sokoman Minerals announced drill results which included two zones in hole MH-20-115, 47.2 g/t Au over 4.60m and 68.7 g/t Au over 8.10m at their Moosehead project, immediately adjacent to K9's Stony Lake property. On December 15, 2020, New Found Gold announced intercepts of 45.3 g/t Au over 13.1m in hole NFGC-20- 32 and 25.0 g/t Au over 16.9m in hole NFGC-20-29 at their nearby Queensway property. K9 CEO Jeff Poloni states "With the VTEM and Mag surveys company continue to define both lithological trends and structure. The importance of these structures cannot be overstated as they are the conduits for auriferous fluids. Over the next few weeks company will be compiling the information from additional surveys and will be better able to define high priority targets for ground geophysics, trenching and drilling.