Mistango Defines 1 Kilometre Strike with Near Surface Gold Intersections at its Goldie Project

• Mistango discovered a high-grade near-surface gold zone over 1 km long adjacent to Delta Resources' Delta-1 discovery. Initial results include:
  • 14 m @ 2.02 g/t Gold from 153 m
  • 1 m @ 16.6 g/t Gold from 70 m
  • 16 m @ 1.13 g/t Gold from 48 m
• Program defined gold mineralization over 1km of strike, with each of the four infill holes returning significant gold intercepts along the same plane.
• The footprint is 1 km x 200 m and 200 m deep and open in all directions
• Assays for the diamond drill holes are still pending, with one of these holes returning visible gold

Toronto, Ontario--(Newsfile Corp. - March 8, 2023) - Mistango River Resources Inc. (CSE: MIS) ("Mistango" or the "Company") is pleased to announce that it has discovered a near-surface high-grade gold zone over 1 km in strike length at the Goldie Project. This drill program tested the northern border of a high-grade gold zone recently discovered by Delta Resources adjacent to Delta-1 Project. Mistango's Goldie drill program completed seventeen holes over 2,780 metres, combining RC and diamond drilling. All assays for the diamond drilling are still pending, with visible gold observed in one of the diamond drill holes.

This new discovery zone on Goldie lies immediately on strike to the east of Delta 1's project, which has been defining similar mineralization. This structure is a shallow, flat-lying gold-bearing system with continuous gold. This style of mineralization is amenable to bulk tonnage operations. This view extends beyond what Mistango and Delta are currently focussed on as this broader Shebandowan Greenstone Belt has demonstrated similar structures throughout.

Between these two projects, and others in the area, it's clear that the Shebandowan Greenstone Belt is an interesting and emerging gold district.

Goldie's mineralized zone was observed in seven of the 14 assayed holes along a 1 km strike. Mineralization is open east and west of the 1km strike and north and south. The sole hole drilled south of this newly defined gold-bearing structure was hole GLD-003-008, which returned 2.02 g/t Au over 14 metres. There is potential to further extend the mineralized zone for another 500 metres to the south of GLD-003-008, towards the Delta-1 Project, where Delta Resources continues to intersect visible gold in multiple drill holes adjacent to the south of Mistango's Goldie Project.

Mistango is awaiting assays for the diamond drill holes, one of which had visible gold. The diamond drill holes tested separate but parallel zone to the south. Once all assays are returned, the data will be modeled and interpreted to plan a follow-up drill program.

Highlighted Assays from the RC Drilling:

• GLD-002-006, 0.378 g/t Gold from 89 to 94 m
• GLD-003-008, 2.02 g/t Gold from 153 to 167 m
• GLD-003-011, .54 g/t Gold from 33 to 46 m
• GLD-003-011, 16.6 g/t Gold from 70 to 71 m
• GLD-003-013, .61 g/t Gold from 61 to 63 m
• GLD-003-015, 1.13 g/t Gold from 48 to 54 m
• GLD-003-016, .95 g/t Gold from 66 to 69 m

Plan View of Results to date on Mistango's Goldie Project

About Mistango's Goldie Program
Goldie is located within the Shebandowan Greenstone Belt and covers a 17km strike on the Shebandowan Structural Zone, which also hosts Goldshore Resources Inc's low-grade high-tonnage Moss Lake gold deposit, 50 km to the west. Goldie is also adjacent to Delta Resources Delta-1 Project, which reported multiple holes of visible gold, including an intersection of 11.9 metres of 14.8 g/t gold within a broader interval of 31.0 metres of 5.92 g/t gold.

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QP Statement

The technical information in this news release has been reviewed and approved by Jared Beebe, P.Geo., a Qualified Person as defined in "National Instrument 43-101 - Standards of Disclosure for Mineral Projects."

To Speak to the Company directly, please contact:

Stephen Stewart, Chairman
Phone: 416.644.1567
Email: info@oregroup.ca
www.mistango.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release. Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Mistango assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Mistango. Additional information identifying risks and uncertainties is contained in filings by Mistango with Canadian securities regulators, which filings are available under Mistango profile at www.sedar.com.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/157674