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Manitou Gold Provides Exploration Update at Goudreau Project

Manitou Gold Inc. is pleased to announce the completion of the first five drill holes at the Baltimore Deformation zone (the “BDZ”) grid within the Goudreau Project, northeastern Ontario. The objective of the winter drill program is to test several distinct targets located within a key geological/structural setting and supported by coincident geophysical and geochemical anomalies. This unique structural setting is located within the triple point junction of three large granitic intrusions along the western portion of the BDZ.

“This initial drilling program at the western perimeter of the BDZ represents the first holes ever drilled in this target area and we are anxious to receive the drill results in the coming weeks and months,” stated Richard Murphy, President and CEO of Manitou Gold. “The targets we are currently testing all lie within one of the best possible structural settings for forming a large orogenic gold deposit.”

The target area covers a six-kilometre segment of the BDZ, extending east from the Meath Lake fault zone, where it is intersected by a low angle east-northeast striking fault system approximately 600 meters in width. This structural intersection is the key target for orogenic-style gold mineralization and recent drilling success at the Stover zone, some 10 kilometres to the east-southeast, with wide drill intersections of 49 m @ 0.7 g/t Au incl. 3 m @ 4.0 g/t Au (see Company press release dated March 9, 2021), confirms its gold potential.

The winter drilling program is progressing well with five drill holes completed in the southern portion of the target area. Core samples from three of the five holes have been delivered to the laboratory and assay results will be released as they are received and interpreted. The Company is now set to begin drilling in the northern central portion of the target area, where there are several promising coincident structural, geophysical and geochemical targets.

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