MAS Gold Has Completed Gold Exploration Drilling at the Greywacke Lake and is Currently Executing Drilling at Preview-North Property

Vancouver, March 11, 2021 – MAS Gold Corp. (“MAS Gold” – TSX.V: MAS) is pleased to provide an update on the status of it 2021 drill campaign at its Greywacke Lake and Preview-North Properties in the Paleoproterozoic Kisseynew Domain of the La Ronge Greenstone Belt, Saskatchewan, northeast of the community of La Ronge.

As previously announced February 25, 2021, the current phase of drilling has completed at the Greywacke Lake property with a total of 2,887.9 metres drilled. Figure 1 shows the locations of the 2021 drilling at the Greywacke North, Greywacke Central and Lyons Zone areas. Core processing is continuing with samples delivered to the TSL Labs in Saskatoon from holes GW21-129 through GW21-133; results are expected by month end.

Figure 1: Greywacke Lake Property Drill Hole Locations (Historical and 2021)

Two drills are currently operating at North Lake on MAS Gold’s Preview-North Property, roughly 50 kilometres northeast of the community of La Ronge. Five holes (NL21-52 through NL21-56) are complete for a total of 1,387 metres. The program of eight to ten holes, totaling roughly 2,500 metres, is targeting the down dip extensions of the deposit with the objective to expand the resource to depth (see Figure 2).

Figure 2: North Lake Drill Hole Locations (Historical and 2021)

Drilling at the Point deposit area, also on the Preview-North Property, requires collaring from the ice surface of East Ramsland Lake. Unfortunately rising temperatures have resulted in inadequate ice conditions, requiring the postponement of this drilling. Alternatives plans for drilling at Point in 2021 are being examined. The current budgeted drill footage has been reallocated to the North Lake drill program.

About MAS Gold Corp. 

MAS Gold Corp. is a Canadian mineral exploration company focused on exploration projects in the prospective La Ronge Gold Belt of Saskatchewan.

In the belt, MAS Gold Corp. operates four properties totaling 33, 843 hectares (83, 628 acres), including the Greywacke Lake, Preview-North, Elizabeth Lake and Henry Lake Properties extending along a total of roughly 60 kilometres of the geologically prospective La Ronge, Kisseynew and Glennie Domains that make up the La Ronge Gold Belt.

MAS Gold’s holdings include the Greywacke North, North Lake and Point gold deposits and the historically defined Elizabeth Lake copper-gold volcanic-hosted massive sulphide deposit.

The Greywacke North deposit, which hosts multiple known stratabound, high-grade gold-bearing zones, has an estimated 255,500 tonnes at 9.92 g/t Au (cut-off grade of 5 grams gold/tonne) for 81,500 ounces of gold, plus an Inferred Mineral Resource of an estimated 59,130 tonnes at 7.42 g/t Au for 14,100 ounces of gold (NI 43-101 Technical Report, June 1, 2016).

The North Lake deposit located at Preview North Property is estimated to contain an Inferred Mineral Resource of 14,110,000 t grading 0.92 g/t Au, hence 417,000 contained ounces of gold (NI 43-101 Technical Report, April 10, 2020)

Qualified Person (QP)

The scientific and technical information contained in this news release has been prepared, reviewed, verified and approved by David Tupper, P.Geo. (British Columbia), Southern Empire’s VP Exploration and a Qualified Person within the context of Canadian Securities Administrators’ National Instrument 43-101; Standards of Disclosure for Mineral Projects.

On behalf of the Board of Directors of MAS Gold Corp.,
Jim Engdahl, President & CEO

MAS Gold Corp.

Suite 420 – 789 West Pender Street
Vancouver, British Columbia
Canada, V6C 1H2

For more information, please contact:

Lubica Keighery, VP Corporate Development

Cautionary Notice on Forward-Looking Information

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. MAS Gold cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond their respective control. Such factors include, among other things: risks and uncertainties relating to MAS Gold’s limited operating history, the need to comply with environmental and governmental regulations, results of exploration programs on their projects and those risks and uncertainties identified in each of their annual and interim financial statements and management discussion and analysis. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, MAS Gold undertakes no obligation to publicly update or revise forward-looking information.

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