Roughrider Announces Initial Surface Exploration Results from the Empire Mine Property

TSX.V: REL

VANCOUVER, BC, Oct. 20, 2020 /CNW/ - Roughrider Exploration Limited ("Roughrider") (TSXV: REL) is pleased to announce the results from the Phase 1 exploration program on the Empire Mine Property located on Northern Vancouver Island. As announced on September 24, 2020, Roughrider completed a small exploration program on the Property which consisted of the collection of 251 soil samples, 81 rock samples, 28 chip samples and 100 rock channel cut samples that were taken at 1.0 m intervals (See Figure 1). Work was focused in a 500 m x 2000 m area (1,000 hectares) within the 15,000-hectare Empire Mine property with an emphasis to test exploration potential outside of the previous resource. As such sampling was not conducted within the historical resource completed by Grande Portage in 2008 or where significant previous drill intercepts (including 2006 drillhole MW06-17 which returned 6.51 g/t gold and 1.38% copper over 50.32 m) were located. ^1,2

Adam Travis, CEO and Director, comments, "We are very encouraged by these initial results from our surface program that examined exploration potential outside of and along strike of the previous resource. The results suggest that there is potential to grow the historical resource at depth as noted by the previous N.I 43- 101 report (2008) and now along strike. Our initial work has highlighted several prospective areas for future drill programs.

We now have multiple areas over a > 4.5 km strike including new zones that require follow up, such as the new soil anomaly at Battle Mountain returning up to 1,175 ppb gold in soils. We continue to compile 100 years of extensive historical records and enter the permitting and consultation process."

Rock channel sample results are summarized in Table 1 below including results from the Copper Knob showing, which returned 9.77 g/t gold, 28.41 g/t silver and 2.35% copper over 10.5 metres. To the north, channel samples taken at the Gossan Zone, Adit and North Notch showings indicate significant exploration potential in an area up to 250 m north of the Merry Widow Pit. Other channel samples returned highly anomalous results as much as 400 m south of the Merry Widow Pit).

Highlights from rock grab samples include the Bluebird 1 area (600 m south of Merry Widow Pit) which returned 11.2 g/t gold and 36.8 g/t silver and 2.13% copper, the DB showing (1 km SE of Merry Widow Pit) which returned 3.59 g/t gold, 71.9 g/t silver, 12.05% copper, and the BX 1 showing (4.6 km south of the Merry Widow Pit) which returned 1.88% copper.

Rock chip samples have highlighted broad areas of low-grade gold and copper values such as 17.0 m of 0.16 g/t gold and 0.11% copper from pyritized volcanic units which overlie the limestone horizons at the Summit Showing (600 m north of Merry Widow Pit).

Soil Samples taken north of the Merry Widow Pit indicate a 400 m long NNE trending > 100 ppb gold in soil anomaly with a high to 3260 ppb gold.  Highlights from soil samples taken to the south in the Battle Mountain area (1700 metres south of the Merry Widow Pit) included an open ended 400 m long > 100 ppb gold in soil anomaly with samples returning 233-1175 ppb gold down the central axis of the anomaly. No records of any historical trenching or drilling are noted in the Battle Mountain Area.

Quality Assurance / Quality Control

Sampling completed on the project in 2020 was supervised by on-site Roughrider personnel and sub contractors who collected and tracked samples and implemented a full QA/QC program using blanks, standards and duplicates to monitor analytical accuracy and precision. All of the QA/QC samples returned values that are within acceptable variances from expected results. The samples were sealed on site and shipped to ALS Geochemistry ("ALS") in Vancouver BC for analysis.  Soil samples were analyzed using ALS methods ME-ICP41 (35 element aqua regia ICP-AES) and Au-ICP21 (30 gram gold fire assay ICP-AES). Rock, chip, and channel samples were analyzed for 33 elements using a combination of ALS's ME-ICP61 process for low level concentrations (four acid ICP-AES/MS) and the ME-OG62 process for higher level concentrations (four acid ICP-AES). Gold concentrations for rock, chip, and channel samples were we obtained using ALS method AU-ICP21 (30 gram fire assay, AAS finish) and samples that returned >5.0 ppm Au were subject to a 30 gram gravimetric fire assay (Au-GRA21).

Qualified Persons

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

Cautionary Notes regarding release and maps

1 Historical information provided in this news release regarding the Company's project cannot be relied upon as the Company's QP as defined under NI 43-101 has not prepared nor verified the historical information. A Qualified Person has not done sufficient work to classify the historical estimate as a current mineral resource and Roughrider is not treating this historical estimate as current mineral resources.

2 NI 43-1010 Technical Report: Giroux, G.H., & Raven, W. (November 30, 2008). Technical Report on the Copper Gold Resources for the Merry Widow Property. Filed on SEDAR January 22, 2009. The 2008 Grand Portage resource estimate was completed by Gary H. Giroux, P.Eng, MASc, of Giroux Consulting Ltd. in Vancouver, B.C. The estimate was based on a 3D geological model integrating 4,448 metres of diamond drilling of 43 drill holes, 2,290 assays, with 104 down-hole surveys collected between June and December 2006. The resource was reported utilizing gold cut-off grades ranging from 0.10 g/t to 3.00 g/t gold, as more particularly set out in the report. A complete copy of the report is available on Grand Portage's public filings on SEDAR (www.sedar.com). A gold cut-off grade of 0.50 g/t gold was selected as representing one possible mining scenario. For the purposes of the calculations, lognormal cumulative frequency plots were used to assess grade distribution to see if capping of high values was required and if so at what levels. For all elements, capping levels were established based on the individual grade distributions as follows: Gold -- a total of 18 gold assays were capped at 32.0 g/t gold, Silver --a total of 9 silver assays were capped at 165 g/t silver, Copper -- a total of 7 assays were capped at 11.7% copper, Cobalt -- a total of 5 assays were capped at 0.48% cobalt, Iron -- all iron assays were capped at 50% iron (the analytical detection limit).

On Behalf of the Board of Directors:
"Adam Travis"
Adam Travis, Chief Executive Officer and Director

About Roughrider Exploration Limited

Roughrider's current exploration focus is on the Empire Mine property located on Northern Vancouver Island, B.C. and covers three past-producing open pit mines and two past-producing underground mines that produced iron, copper, gold and silver. Roughrider's other properties include its 100% owned Eldorado, Gin and Bonanza properties located in the Golden Triangle of northern B.C. which are adjacent to the Red Chris Mine as well as its 100% Sterling property which is located in central B.C. Roughrider management also continuously reviews strategic precious metals opportunities in western North America.

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

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Certain information contained or incorporated by reference in this press release, including any information regarding the proposed Transaction, private placement, board and management changes, as to our strategy, projects, plans or future financial or operating performance, constitutes "forward-looking statements." All statements, other than statements of historical fact, are to be considered forward-looking statements. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by Roughrider, are inherently subject to significant business, economic, geological and competitive uncertainties and contingencies. Although Roughrider believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include but are not limited to: fluctuations in market prices, exploration and exploitation successes, continued availability of capital and financing, changes in national and local government legislation, taxation, controls, regulations, expropriation or nationalization of property and general political, economic, market or business conditions. Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance and, therefore, readers are advised to rely on their own evaluation of such uncertainties. All of the forward-looking statements made in this press release, or incorporated by reference, are qualified by these cautionary statements. We do not assume any obligation to update any forward-looking statements.

SOURCE Roughrider Exploration Limited