Trillium Gold Mines Inc. provided an update on the extensive historical core sampling activities over its 55,000 hectare Confederation Belt project in Red Lake, Ontario. A significant number of anomalous results have been received from the historical core and recent field work, from areas along and adjacent to the eastern extensions of both the LP Fault and the Cochenour-Gullrock Fault associated with the Red Lake Mine, as well as internally within the Confederation greenstones localized in structurally complex areas. Gold results obtained and compiled by Trillium to date appear to cluster along several linear trends generally running parallel to the long axis of the Confederation greenstone belt.

The Fly Lake prospect which lies near the intersection of the Arrow Zone Trend and is considered to be a splay off the eastern extension of Kinross Gold's LP Fault, returned the highest grade result obtained to date of 7.89 g/t Au reported from a diamond drilling grab-sample of core from a weathered cache dating back to 1992. This sample was taken over a 10 cm quartz-Fe-carbonate vein hosted within felsic volcanic rocks. Locally, the Fly Lake high-grade sample occurs in a corridor proximal to complex cross-faulting adjacent to other significant gold findings (e.g. 0.724 g/t Au over 1.58m, 1.31 g/t Au over 1.0m, 1.51 g/t Au over 1.0m and 1.23 g/t Au in a grab sample) and base metal mineralization (e.g. 2.61% Zn over 31m, 5.92% Zn over 12.2m and 1.3% Zn over 9.0m).

Additionally, the historical gold and base metal occurrences suggest a general increase locally in width and grade towards the southwest. These gold occurrences are considered significant insofar as very little of the Confederation Belt project has been drilled for its gold potential. The Arrow Zone Trend contains the only current Zn-Cu-Ag-Au resource in the area and lies outside Trillium's Confederation Belt project area.

However, there are indications of structurally or lithologically controlled gold mineralization trending northeast and southwest from the Arrow Zone. The Fly Lake area in the northeast possibly lies on this trend where it intersects a north north-easterly splay from the far eastern extension of the LP Fault (Fly Lake Trend), which is itself a gold-bearing trend, with a number of recent results up to 0.81 g/t Au from relogging historical drilling and 1.27 g/t Au from a Trillium prospecting sample. Towards the southwest end of the Arrow Zone Trend lies another anomalous gold area where it possibly intersects the LP Fault.

Here a number of very old holes were grab-sampled with results ranging up to 0.49 g/t Au. Anomalous gold results of up to 0.99 g/t Au in historical core sampling and up to 1.56 g/t Au from the original drilling obtained from the Cochenour-Gullrock Trend, coincide with highly magnetic favourable rock-types in the Fredart area, that appear to be regularly boudinaged. These anomalous results coincide with a zone of demagnetization associated with a northwest trending cross structure.

Further west along the trend lie several other anomalous results ranging up to 0.31 g/t Au. On the Panama Lake property, anomalous results from further sampling of core drilled in 2020 have added new gold results of up to 1.33 g/t Au along the Panama Fault South Trend. The Panama Fault North Trend contains gold mineralization up to 0.312 g/t Au and is believed to be the far eastern continuation of the LP Fault.

In this area the stratigraphy is intensely folded and recent soil sampling gave multiple overlapping anomalies for As (arsenic), Ni, Zn, Ag and Cr (chromium). Arsenic in soil is a strong pathfinder candidate for gold mineralization based on historical geochemistry work performed on drill holes completed by Benton Resources in 2019. This area also shares similar stratigraphy, whole rock geochemistry and structural regime as at the Kinross Gold LP Fault deposit.

In the second half of 2022, Trillium drilled one hole (CB22-001) in the Fly Lake area before suspending drilling in favour of sampling the historical core that was being found on the property. The significant returns that could be gained from assaying the historical core presented an order of magnitude less cost. Selection of the historical holes was based upon several gold related criteria, chiefly but not limited to, their proximity to high-potential structures, position on-trend of known gold mineralization and proximity to gold showings in historical or field sampling by Trillium.

Trillium's geologists found that very little of the core had been sampled previously, with the limited sampling focused mainly on massive sulphides or EM conductors. Both the assay data received and the observational data from this core is proving to be a meaningful factor for developing drill targets on the property. Trillium's program of re-logging historical core commenced in mid-2022 and continued until just prior to year end with over 3,400 samples collected representing over 10,000 metres of equivalent drilling.

Approximately 20% of these remain pending. The project encompasses one of the largest contiguous land positions ever assembled along the same geological trends as the Red Lake Operations [Evolution Mining] and the LP Fault Zone of the ‘Dixie' discovery [Kinross Gold] in this world-class mining jurisdiction predominantly known for its VMS base metal mineralization.