Moneta Porcupine Mines Inc. announced the results of gold recovery test work conducted on drill core samples from the South West deposit, Golden Highway Project, located 110 km east of Timmins, Ontario. Highlights: Metallurgical gold recovery test work showed increased gold recoveries from drill core from the South West deposit included in the November 2019 Mineral Resource Estimate: Gold recoveries (gravity and leach) increased to 93.9% at a standard grind size; Gold recoveries (gravity and leach) increased to 95.5% at a finer grind size; Gravity recovery of gold averaged 50.6%; Whole ore leach gold recoveries increased to 93.4% recovery; Combination of higher head grade and gravity recovery increased recoveries by 1.4% for standard grind and 2.0% for finer grind size; Optimal recoveries at low CN concentrations (0.5 g/L) with low reagent consumptions. The metallurgical gold recovery test-work was conducted to assess the potential gold recoveries and optimum process flow sheet required to develop the project at a head grade reflective of the latest mineral resource estimate on the South West Deposit. The test work was conducted on a composite sample collected from 36.20 m of quarter core sampled from 2018 and 2019 drill holes completed on the South West deposit (including the Gap Zone). The sample weighed 33.47 kg with an estimated grade of 4.65 g/t Au based on core assays, selected to be spatially and geologically representative of the deposit. Metallurgical test work was undertaken by SGS Canada Minerals Lakefield at the SGS Lakefield Laboratory, Ontario. The metallurgical test-work showed that total gold recovery averaging 93.9% was achievable at a 79 micron grind size, with 50.6% of the gold recovered by gravity at a head grade reflective of the updated mineral resource (Table 1). Finer grinding to 59 micron resulted in an average total gold recovery of 95.5% with 50.6% recovered by gravity (Table 2). Whole ore leaching returned recoveries of 93.4%, (Table 3). Optimum recoveries were achieved after 24 hours leaching after gravity recovery, at a CN concentration of 0.5 g/L, with average laboratory test-work consumption of 1.1 kg/t CN and 1.1 kg/t lime. Lower CN concentration levels and oxygen addition indicated lower overall recoveries. The test work also confirmed that the composite and process tails contained no elevated levels of deleterious elements. Previous test work, also conducted by SGS Canada on composite samples with an average head grade of 0.86 g/t Au without gravity recovery, showed an average total recovery of 92.5% at the standard grind size and 93.5% on the finer grind under similar laboratory conditions. The combination of a higher head grade and use of gravity recovery has resulted in higher gold recoveries. Finer grinding also increases the overall gold recovery.