SNOWLINE GOLD CORP. announced additional analytical results from its ongoing drill program at the Valley target on its Rogue Project in Canada'sYukon Territory. Holes V-23-039 and V-23-037 returned the two strongest gold intersections from the project to date, demonstrating the presence of a high-grade, near-surface core to the gold system at Valley.

Hole V-23-039 averages 2.47 g/t Au over 553.8 m from bedrock surface, including two distinct zones with multiple-gram-per-tonne gold mineralization, with a strong run of continuous mineralization at depth averaging 2.02 g/t Au over 233.0 m from 287.0 m downhole. Analytical results for an additional 19 holes (7,116 m) at Valley are pending, with drilling at Valley and other Rogue Project targets ongoing. Hole V-23-039 is collared within the Valley intrusion and tests a large gap within previous drilling on the near-surface, >2 g/t Au corridor discovered at Valley in 2022.

The hole is roughly 64 m east of the nearest hole, V-22-010 (318.8 m @ 2.55 g/t Au including 108.0 m @ 4.14 g/t Au from surface, see Snowline news release dated October 12, 2022), and 117 m west of V-22-007 (410.0 m @ 1.89 g/t Au from surface including 146.0 m @ 3.24 g/t Au, see Snowline news release dated November 15, 2022). It is 115 m across strike and to the southwest of V-23-037 (428.0 m @ 2.47 g/t Au from surface including 120.0 m @ 4.06 g/t Au, this release). As with previous drill holes in this zone, V-23-039 intersects abundant sheeted quartz veins in granodiorite, with multiple generations of gold-bearing quartz veins.

Mineralization is continuous throughout the top 553.8 m downhole from surface, averaging 2.47 g/t Au across this length. Two zones of higher-grade mineralization are present within this interval: 4.34 g/t Au over 183.3 m from bedrock surface at 2.6 m downhole, and 2.03 g/t Au over 233.0 m from 287.0 m downhole, separated by a zone of lower grades averaging 0.83 g/t over 101.0 m from 186.0 m downhole. The upper zone of mineralization confirms continuity of strong, near-surface mineralization encountered in earlier holes, albeit with higher overall gold grades than previously encountered at Valley.

Within the top 180.0 m downhole from bedrock surface at 2.7 m, 148 out of 177 samples assayed higher than 2.0 g/t Au-representing 148.3 m (non-contiguous) or 84% of the downhole interval. Only six samples, representing 6.0 m (non-contiguous) assayed below 1 g/t Au. The lower zone of mineralization (2.03 g/t Au over 233.0 m from 287.0 m downhole) represents a newly discovered zone of >2 g/t gold mineralization along the western margin of the Valley intrusion at depth.

Quartz veins in this zone are intersected at lower angled to drill core, as has previously been seen in drilling along the western boundary of the intrusion. The hole exits the intrusion into lightly mineralized hornfels at 535.4 m downhole, but the zone itself remains open in multiple directions along the edge of the intrusion. Hole V-23-037 is collared within the Valley intrusion, 115 m northeast of V-23-039 (553.8 m @ 2.48 g/t Au, this release).

As with nearby hole V-23-034, (418.3 m @ 1.88 g/t Au from surface including 216.0 m @ 3.08 g/t Au, see Snowline news release dated July 5, 2023) collared 34 m to the east to provide information on small-scale variance within the system, the hole intersected abundant sheeted quartz veins within the intrusion, in places carrying trace amounts of visible gold. Gold grades and distribution in the two holes is quite similar, except that in V-23-037 higher grades begin at surface, and they continue to greater downhole and vertical depths than in V-23-034. The hole ends in patchy lower grade mineralization within a fine-grained, porphyritic phase of the granodiorite.

Mineralization within V-23-037 is robust and consistent, averaging 2.47 g/t Au over 383.8 m from bedrock surface at 6.2 m downhole, with a higher-grade zone averaging 4.06 g/t Au over 120.0 m from 135.0 m downhole. If not for V-23-039, this hole would have been the best drilled to date within the Valley intrusion. Capping grades at 10.0 g/t Au reduces the average grade of mineralization within the broader interval only 3.1% to 2.39 g/t Au.

Valley Target Drilling, Rogue Project The 10,000+ m drill program at the Rogue Project's Valley discovery is ongoing, with two drill rigs active on site. To date, >9,500 m has been drilled on the Valley target in 2023, with 22 holes completed and an additional 2 holes in progress. Analytical results for all but 5 holes drilled at Valley in 2023 are pending.

The Company intends to continue drilling at Valley until the end of the exploration season in early October. Satellite Target Drilling, Rogue Project Phase II drilling at the Rogue Project's Gracie target was temporarily deferred due to unstable terrain, with G-23-006 shut down at 276 m downhole depth within hornfels. Drilling has instead commenced at the Rogue Project's Reid target, where LM-23-001 has intersected a poly-phase intrusive system, with a coarse-grained granodiorite phase and a fine-grained porphyritic phase, and moderate to low vein densities.

Five instances of trace visible gold have been observed in the hole. The Company notes that its re-analysis of historical drill core material from Reid did not replicate the highest gold values reported from historical hole AS-96-03. Preparations are also underway for a Phase I drill program at the Rogue Project's Cujo target.

Southwest Yukon Drilling A phase I program of five drill holes totalling 1,283 m is complete at Snowline's 100% owned Cliff Project, and the drill rig has been mobilized off site. Analytical results for all holes at Cliff are pending. The same drill rig has been mobilized to the Tosh Property, where drilling has commenced on a 4+ hole, 1,200+ m Phase I program focused on the "Yarrow" gold-silver target.

This is the first ever drill testing of the Tosh Property.