79North Inc. (CSE: JQ; OTC: SVNTF; FRA: 6120) ('79North' or the 'Company') is pleased to announce results from the first 45 rock chip samples from the Witlage Gold Zone, one of four key target areas identified on the Company's large, 20,000-hectare Nassau Gold Project in Suriname.
Reconnaissance geological work and sampling that commenced September 2020, was successful in delineating and improving our understanding of the gold-bearing quartz stockwork systems to define drilling targets. Very encouraging results were obtained from a 300-metre-long zone with rock chip samples containing up to 8.76 grams of gold per tonne (g/t Au). Additional shipments of rock chip samples from other targets on the property have been shipped and additional results are pending.
The Company's 70%-owned Nassau gold project is located 20 kilometres south of Newmont Corporation's Merian gold mine and 60 kilometres east of Iamgold Corporation's Rosebel gold mine. The Nassau gold project has similar geological stratigraphy and structures as both the Rosebel and Merian gold mines. This Press Release describes the initial sampling results from the Witlage Target, the first of the four key targets (Exhibit 1). Jon North, Ph.D., P.Geo., and Chief Executive Officer commented 'I was pleased to be able to spend eight weeks on-site in October and November 2020, working in the field with our exploration team as the Nassau exploration program got underway. We have been very fortunate to put an enthusiastic and qualified exploration team together and put appropriate COVID-19 safety protocols in place to allow work to proceed. The Witlage Target is the first of four primary targets and these initial results confirm Witlage as our first priority drilling target. In addition to Witlage, three other quality targets are being evaluated simultaneously which we expect will form the basis of our first multi-target diamond drilling program. - 2 - Drilling will proceed as soon as possible once results are integrated with our geological models.' stated Jon North, Ph.D., P.Geo., Chief Executive Officer.
About 79North Inc. 79North, is led by a team with extensive mineral exploration expertise and a track record of discoveries and exits in South America and globally. 79North currently holds an indirect interest in mineral concessions in northern Suriname and aims to become the premier junior exploration company in this under explored district of the prolific Guiana Shield. 79North's growing portfolio of high-quality targets - 3 - which have not undergone modern exploration or drilling have a long history of artisanal mining and are strategically located near modern gold mines operated by major mining companies. 79North is a mineral exploration company focused on the acquisition, exploration, and development of properties for the mining of gold and other minerals. 79North has 85,878,941 common shares issued and outstanding and 137,826,826 common shares on a fully diluted basis.
Contact:
Tel: (416) 786-6348
Email: jon@79north.ca info@79north.ca
Cautionary Note Regarding Forward-Looking Information
This news release contains 'forward-looking information' and 'forward-looking statements' (collectively, 'forward-looking statements') within the meaning of the applicable Canadian securities legislation, including information with respect to the exploration program at the Nassau gold project. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future - 4 - events or performance (often but not always using phrases such as 'expects', or 'does not expect', 'is expected', 'anticipates' or 'does not anticipate', 'plans', 'budget', 'scheduled', 'forecasts', 'estimates', 'believes' or 'intends' or variations of such words and phrases or stating that certain actions, events or results 'may' or 'could', 'would', 'might' or 'will' be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon several estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic, competitive, political, and social uncertainties, including related to Covid-19 and the delay or failure to receive board, shareholder, or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, 79North assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
79NORTH INC. 
