MTB Metals Corp. reported initial results from drilling on the Red Cliff gold-copper project, located in the Golden Triangle of BC, 20 kms north of Stewart. The drilling was conducted by Decade Resources, operator of the Red Cliff joint venture.

MTB holds a 35% working interest and a 1.35% NSR royalty on Red Cliff. The Red Cliff zone was historically mined for copper and has 2.4 kms of underground workings on five levels. A 40-meter-wide zone of alteration and mineralization extends 1.2 km to the north of Red Cliff.

Drilling at several places along that zone have produced gold values. The challenging terrain has so far limited the ability to thoroughly test that zone. The recent drilling was at Upper Montrose, 1.2 km north of Red Cliff.

Red Cliff was historically mined for copper. The Lower Montrose Zone, 1,000 meters to the north of Red Cliff, has been explored for gold and saw small-scale production from 1939-41. The recent drilling tested the Upper Montrose zone, 200 meters further north.

These results infill and further extend the known mineralized zone at Upper Montrose. A total of 23 short holes were drilled along 125 meters of strike length and were designed to intersect the target zone at various depths in a previously sparsely tested area. The holes tested for structure, plunge of the mineralization and gold values.

Holes 1 through 21 were drilled from 5 pads at the highest elevation of Upper Montrose. The overburden below pad 1 was deeper than anticipated and the holes failed to intersect the zone. The target depths of the angled holes were located in the overburden, so the holes failed to intersect the zones.

De Degege is also present in holes 6 through 12, averaging 0.12% and ranging from 0.5 ppm to as high as 2.1% in MON-2023-09. Work is continuing in order to better understand the distribution of high-grade gold values within the mineralized zone. MTB and Decade are jointly designing a drill program that involves one deep hole below Upper Montrose/Lower Montrose as well as testing 2 parallel mineralized zones south of the Red Cliff workings which have never been tested.

Further assay results will be released as received. The assays were performed by ALS Canada Ltd. in Vancouver BC.