Kingfisher Metals Corp. announced updates on diamond drilling at the 100% owned 511 km2 Goldrange Project. Goldrange is located approximately 25 km south of the town of Tatla Lake in the Chilcotin region of Southwest British Columbia.

Diamond drilling at the Cloud Drifter Zone has been completed over 11 holes totalling 2427 m. Drilling has been completed over three areas referred to as the Eastern, Western, and Pad 400 Target Areas. GR22-015 to GR22-20 were completed at the Pad 400 Target, GR22-21 and GR22-22 were completed at the Eastern Target, and GR22-23 to GR22-25 have been completed at the Western Target. Drilling is ongoing at the Western Target and once completed it will move to the Eastern Target for additional follow-up drilling.

The first two drill holes (GR22-021 and GR22-022) in the Eastern Target Area confirmed the presence and continuity of a disseminated sulfide and stockwork style of veins not yet identified in drilling. Mineralization styles in drilling includes disseminated, breccia, and vein-hosted chalcopyrite, pyrite, and arsenopyrite. Stockwork and disseminated mineralization styles in surface rocks in this area grade up to 9.7 g/t Au and coincide with strong multi-element (Au, Ag, As, Cu, Bi, Te, Sb, Zn, Mo, W) anomalism in soil geochemistry.

At the Eastern Target Area, mapping and rock sampling of limited rock exposures in forest cover indicate the presence of both a high sulfide and a high vein density domain with a homogeneous mineralization style. Based on the homogeneous textures and consistent vein densities, there is potential for continuity of grade laterally between outcrops and vertically at depth. GR22-021 collared downslope of an outcrop that grades up to 6.8 g/t Au and drilled to the southeast.

Drilling encountered mineralized quartz diorite from surface to 21 m and another interval of stronger quartz diorite hosted mineralization from 51 m to 65 m. The Company believes that the drill hole did not intersect the full thickness of this body and future drilling will test the full thickness body by drilling north from upslope. Further drilling will aim to outline the orientation of the intrusion that is host to mineralization. GR22-022 collared upslope of an outcrop that grades up to 9.7 g/t Au and is located ~60 m west of the outcrop that GR22-021 targeted.

Intervals of dense veins in quartz diorite were intercepted from 26.0 m to 65.8 m, 88 m to 95 m, and 112 m to 120 m. Diamond drilling at the Pad 400 Target Area follows up on vein and breccia hosted mineralization from the 2021 drill program. Highlights from this area in 2021 include 73.4 g/t Au over 1 m from pyrite-ankerite veins and 6.88 g/t Au over 9 m from sulfide cement breccia. This year's drilling is testing the lateral and down- dip continuity of high-grade gold along an easterly structural trend that dips moderately south.

Drill holes into this trend confirmed the location and presence of high-density quartz-sulfide veins parallel to the modelled structures. This important easterly structural trend in the lower Cloud Drifter Zone correlates with multiple high-grade Au intercepts in 2021 drill holes. The structural expression is more than 25 m true thickness, which also coincides with a coincident chargeability-conductivity geophysical anomaly.

Drilling in this area returned broad intercepts of altered and dense veins in quartz diorite in all drill holes (GR22-015 to GR22-020) including GR22-018 which intercepted altered and mineralized quartz diorite from 61.80 m to 174.20 m. An additional drill pad is built in the Pad 400 Target Area and drill holes will be oriented in a westerly direction from that pad. Initial holes at the Western Target Area intercepted structurally controlled quartz-sulfide veins, breccias, and disseminated sulfide mineralization beneath the highest multi-element soil geochemical anomaly (Au, Ag, Cu, Zn, Pb, Sb, Bi, Te, W) in the Cloud Drifter Zone. The source of a coincident conductivity and chargeability anomaly was determined to be due to the presence of hydrothermal sulfide mineralization.

Structural and geochemical exploration trends were intercepted at anticipated depths with drilling and are coincident with elevated sulfide mineralization. Altered quartz diorite was identified in GR22-023 to GR22-025 and is similar in appearance to the Pad 400 Target Area as well as at the Eastern Target Area. This gives the intrusive hosted target over 800 m of strike length, open in multiple directions.

A feldspar porphyry containing disseminated molybdenite and chalcopyrite was intercepted in GR22-023 and points towards a potential higher temperature heat source for the mineralizing system.