Dryden Gold Corp. Reports Surface Rock Samples up to 13.00 g/t Au, Expands Land Package and Welcomes Kenorland Minerals to the Dryden District

Vancouver, British Columbia — January 25, 2024 — Dryden Gold Corp. [TSXV: DRY] (“Dryden Gold” or the “Company”) is pleased to announce that, based on results from rock chip samples collected during the 2023 field program at its Hyndman Property “Hyndman”, the Company strategically staked additional ground to expand the land package along the interpreted trend of mineralization.  The Company would also like to welcome Kenorland Minerals Ltd (TSXV: KLD) to the Dryden District. Kenorland Minerals is one of Canada’s premier project generators and now holds over 73,000 hectares bordering Dryden Gold’s properties (see press release dated January 18, 2023).

“While our primary focus is our drilling program in the Gold Rock Camp, we believe Dryden Gold holds the strongest land position in the Wabigoon Greenstone Belt and will continue to expand at strategic locations identified by our experienced geological team. We are very excited to see the strong technical team at Kenorland Minerals take such a significant interest in the under-explored and over-looked Dryden District” stated Trey Wasser, CEO of Dryden Gold Corp.

Table 1: Significant Gold Results from Hyndman Property

Sample IDUTM EastingUTM NorthingAu (g/t)LithologyDescription
24047656370554899440.632DioriteFine to medium grained medium grey with quartz veins and cubic, blebby and disseminated sulphides.
24049256590954890302.080Intermediate to mafic volcanic Medium grained dark gray to white with more biotite content. Irregular Quartz veins going through host rock. About 15% sulphides observed. Iron oxidation on top.
240493565909548903013.000Intermediate to mafic volcanic
240494565909548903012.300Intermediate to mafic volcanic
240495565909548903010.900Intermediate to mafic volcanic
24049656594354889020.733Quartz Vein Red to pink colored Quartz Vein with some iron staining on top. Pervasive sulphides can be observed along weather surface.

Note: Full list of results can be found later in this document.

About the Hyndman Property

A total of 38 surface rock samples were collected at Hyndman. Six of the samples collected hosted significant gold mineralization, three samples hosted gold mineralization over 10.00 g/t Au with the best result at 13.00 g/t Au (see Table 1, Figure 1 and Figure 2). Mineralization in the Hyndman area is hosted in intermediate to mafic volcanic rocks adjacent to the Wabigoon Fault, a major regional structure. The newly staked Hyndman claims enhance the overall strategic land package situated on one of the major east-west structures in the Dryden District, similar to structures currently being explored by Dynasty Gold (TSXV: DYG) and now a significant land package optioned by Kenorland Minerals Ltd. (TSXV: KLD).

Regional Geology of Hyndman Project Area with sample locations
Figure 1: Regional Geology of Hyndman Project Area with sample locations

The Hyndman Project area is the most easterly part of the Company’s property. It is located just 2km north of the Trans-Canada highway and has additional road access through a network of logging roads (Figure 2 and Figure 3). The area has been recently logged making it easily accessible for additional mapping and exploration work in 2024. Dryden Gold flew high-resolution airborne magnetic survey in 2022 which indicated layering of mafic to intermediate units and horizons of more magnetic rocks likely due to magnetite or pyrrhotite within the host rock at Hyndman. Historically, gold showings have occurred on the southern side of the major regional fault and the significant results from this program align with previous discoveries and potentially new mineralized areas. Observations from the summer mapping campaign included strong pyrite mineralization and silicification within intermediate to mafic volcanics, pyrite mineralization hosted within diorite and pyrite mineralization in felsic dyke contacts.

Figure 2: Detailed Geological Map of New Discovery at Hyndman Project
Figure 2: Detailed Geological Map of New Discovery at Hyndman Project

Maura Kolb, the Company’s President and Head of Exploration commented on Hyndman, “the team feels that multiple showings of over 10 g/t Au represent our first important target at Hyndman. We will continue to test the potential of gold mineralization hosted within the mafic volcanic rocks on and along the Wabigoon Fault. The shearing is very strong and pervasive throughout these rocks mapped by the summer field team and the new results demonstrate strong growth potential along the Wabigoon Fault.”

Dryden Gold has significantly expended the size of the land package around the Hyndman Project area (Figure 3). The new land package is nearly four times larger than the original Hyndman Project land package and the additional land adds approximately another seven kilometers of strike on the south side of the Wabigoon regional fault structure.

Figure 3: Regional Geology Map of Hyndman Project area showing newly acquired claims.
Figure 3: Regional Geology Map of Hyndman Project area showing newly acquired claims.

The Company has prepared and filed a technical report in respect of the Dryden Gold Properties titled “NI 43-101 Technical Report Dryden Gold Project” and dated effective September 6, 2023, prepared for the Company by Calvin Church, P.Geo, a copy of which can also be found under the Company’s profile at www.sedarplus.ca.

Qualified Person

The technical disclosure in this news release has been reviewed and approved by Maura J. Kolb, M.Sc., P.Geo., President of Dryden Gold and a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators.

Table 2: All Gold Results from Hyndman Rock Samples

Rock Samples Results from Hyndman
Sample ID UTM Easting UTM Northing Lithology Au (g/t)
240476 563705 5489944 Diorite 0.632
240477 563705 5489944 Quartz Vein 0.072
240478 563900 5489969 Porphyry *
240479 564090 5489986 Diorite *
240481 564090 5489986 Mafic Volcanic *
240482 565503 5488050 Graywacke *
240483 565873 5488885 Quartz vein *
240484 565873 5488885 Granodiorite 0.006
240486 565873 5488885 Granodiorite *
240487 566082 5488919 Biotite schist 0.022
240491 566070 5489505 Intermediate volcanic 0.005
240492 565909 5489030 Intermediate to mafic volcanic 2.080
240493 565909 5489030 Intermediate to mafic volcanic 13.000
240494 565909 5489030 Intermediate to mafic volcanic 12.300
240495 565909 5489030 Intermediate to mafic volcanic 10.900
240496 565943 5488902 Quartz Vein 0.733
240497 565943 5488902 Quartz Vein 0.372
242512 566069 5489492 Mafic Volcanic 0.010
242513 566075 5489457 Felsic Volcanic *
242514 566075 5489457 Felsic Volcanic *
242515 566075 5489457 Felsic Volcanic *
1200675 562405 5495563 Gabbro *
1200676 562440 5495416 Mafic volcanic *
1200677 562424 5495311 Felsic tuff *
1200678 562338 5495185 Mafic volcanic *
1200682 565859 5489949 Mafic dyke *
1200683 564907 5490329 Felsic tuff 0.005
1200684 564907 5490329 Mafic volcanic *
1200685 564907 5490329 Vein *
1200686 564907 5490329 Felsic tuff 0.006
1200687 564907 5490329 Felsic volcanic *
1200688 564907 5490329 Mafic volcanic 0.267
1200689 564905 5490354 Mafic volcanic *
1200691 564905 5490354 Quartz Vein *
1200692 564905 5490354 Quartz Vein *
1200693 564905 5490354 Felsic volcanic *
1200694 564905 5490354 Mafic volcanic *
1200695 564112 5492150 Mafic volcanic *
* below detection limits

Analytical Laboratory and QA/QC Procedures

All sampling completed by Dryden Gold Corp. within its exploration programs is subject to a Company standard of internal quality control and quality assurance (QA/QC) programs which include the insertion of certified reference materials, blank materials and a level of duplicate analysis. Surface samples from the 2023 program were sent to Activation Laboratories, with sample preparation in Dryden and analysis in Thunder Bay & Dryden, where they were processed for gold analysis by 50-gram fire assay with an atomic absorption finish. Activation Laboratories systems conform to requirements of ISO/IEC Standard 17025 guidelines and meets assay requirements outlined for NI 43-101.

ABOUT DRYDEN GOLD CORP.

Dryden Gold Corp. is an exploration company focused on the discovery of high-grade gold mineralization listed on the TSX Venture Exchange (“DRY”). The Company has a strong management team and Board of Directors comprised of experienced individuals with a track record of building shareholder value through property acquisition & consolidation, exploration success and merger & acquisitions. Dryden Gold controls a 100% interest in a dominate strategic land position in the Dryden District of Northwestern Ontario. Dryden Gold’s property package includes historic gold mines but has seen limited modern exploration. The property hosts high-grade gold mineralization over 50km of potential strike length along the Manitou-Dinorwic deformation zone. The property has excellent infrastructure, enjoys First Nations support and proximity to an experienced mining workforce.

For more information go to our website www.drydengold.com.

CONTACT INFORMATION

Trey Wasser CEO
email: twasser@drydengold.com
phone: 940-368-8337

Maura Kolb, M.Sc.. P. Geo., President
Email: mjkolb@drydengold.com
Phone: 807-632-2368

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Further details of the Amalgamation, the Listing and the business plan will be included in subsequent news releases and disclosure documents to be filed by Dryden Gold Corp.

Cautionary Note Regarding Forward-Looking Statements
The information contained herein contains “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the terms and conditions of the Amalgamation; the terms and conditions of the Financing; use of proceeds from the Financing; future development plans; and the business and operations of Dryden Gold. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements.” Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company’s prospects, properties and business detailed elsewhere in Dryden Gold’s and the Company’s disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and Dryden Gold and the Company do not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from Dryden Gold’s and the Company’s expectations or projections.

UNITED STATES ADVISORY. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), have been offered and sold outside the United States to eligible investors pursuant to Regulation S promulgated under the U.S. Securities Act, and may not be offered, sold, or resold in the United States or to, or for the account of or benefit of, a U.S. Person (as such term is defined in Regulation S under the United States Securities Act) unless the securities are registered under the U.S. Securities Act, or an exemption from the registration requirements of the U.S. Securities Act is available. Hedging transactions involving the securities must not be conducted unless in accordance with the U.S. Securities Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in the state in the United States in which such offer, solicitation or sale would be unlawful.

Not for distribution to United States news wire services or for dissemination in the United States.