Exploits Intercepts Near-Surface Visible Gold Averaging 12.55 g/t Au over 3.5 m at Bullseye

Toronto, Ontario--(Newsfile Corp. - April 5, 2023) - Exploits Discovery Corp. (CSE: NFLD) (OTCQX: NFLDF) (FSE: 634) ("Exploits" or the "Company") is pleased to announce assay results from drill holes numbered four, five and six, at its Bullseye property in Central Newfoundland. Visible gold grains have been observed within three of the six holes reported to date in close proximity to the Appleton Fault Zone as it tracks across Exploits' wholly owned mineral claims.

Highlights of BE-23-005:

• Five occurrences of visible gold observed within veining encountered at 27.50 - 28.16 m depth downhole.

  • Intersected 12.55 g/t Au averaged over 3.50 m core-length located at a vertical depth of approximately 20 m below surface.

    • Including 68.39 g/t Au contribution from a 0.45 m sample where fine grains of visible gold were noted within a network of quartz veining.

  • Intersected 2.61 g/t Au over 1.15 m core-length located at a vertical depth of approximately 100 m below surface.

Ken Tylee, Vice President of Exploration: "It's impressive to see visible gold again in our fifth hole, 45 m away from the 14.2-gram intercept reported in our first hole drilled at Bullseye. We are excited to find these locally high-grade vein sets at such an early exploration stage coming from a property with no previous drilling history. Our drilling operations continue, and we plan on providing further updates as the assays arrive."

To date, a total of 15 holes consisting of 5,128 metres of NQ drilling, have been completed of the results-oriented drill program. This initial drilling program is designed to determine the potential for high grade gold mineralization along Exploits' 1.2 kilometre segment of the Appleton Fault Zone.

 
 Figure 1: Plan Map displays Exploits' Bullseye property with location of drill holes BE-23-004, BE-23-005, BE-23-006 shown within yellow dashed box.
 
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Figure 2: Plan Map showing assay results along trace of the Appleton Fault Zone.
 
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Figure 3: Photograph of NQ core from Hole #BE-23-005 showing the distribution of fine Visible Gold observed at 27.50 m downhole depth.
 
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 Figure 4: Photo of NQ drill core from hole BE-23-005. Five flecks of visible gold observed throughout interval from 27.50 - 28.16m shown by the yellow highlights.
 
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Other Highlights from Recent Drilling include:

• BE-23-004 Intercepts: 2.46 g/t Au over 0.55 m core-length located at a vertical depth of 52 m below surface.

  • Intersected 2.00 g/t Au over 0.60 m core-length located at a vertical depth of 117 m below surface.

• BE-23-006 Intercepts: 2.34 g/t Au over 1.15 m core-length located at a vertical depth of 40 m below surface.

Bullseye Drilling - Selected Assays

Table 1: Selected drill assays
 

Table 2: Drill collar data

Bullseye Gold Target

Exploits' Bullseye gold target is fully permitted for exploration activities and located approximately three kilometres north of the Town of Appleton easily accessible via existing forestry roads and trail networks.

Bullseye is considered a highly prospective drilling target that borders New Found Gold's recent gold discoveries along the Appleton Fault Corridor. The property is directly contiguous to New Found Gold and Labrador Gold properties where over a dozen drill rigs have been recently operating.

Quality Assurance - Quality Control ("QA/QC")

All prospective NQ core is logged and delineated for sampling by an Exploits' professional geologist. The core is subsequently halved by a diamond-bladed core saw by Company's technicians with one half being placed in a bag with a unique sample identification. The remaining half core is retained within the Company's secure storage facility in Gander, Newfoundland. Sample bags are sealed and then shipped directly to Eastern Analytical Ltd. Certified standards and blanks are inserted at defined intervals following the Company's QA/QC documented procedures, representing approximately 5% of all samples sent for assaying. All core samples are analyzed at Eastern Analytical Ltd. of 403 Little Bay Road, Springdale, NL, a commercial laboratory that is ISO/IEC 17025 accredited and completely independent of Exploits Discovery Corp. Samples are analyzed using fire assay (30g) with AA finish (Au-FAA 30 ppb process) and/or a four-acid digestion followed by multi-element ICP-OES analysis. All samples with visible gold or assaying above 10.0 g/t Au are further assayed using metallic screen to mitigate the presence of the nugget effect of coarse gold.

National Instrument 43-101 Disclosure

Ken Tylee, P.Geo., VP of Exploration with Exploits, is a qualified person within the Provinces of Ontario and Newfoundland and Labrador as defined by NI 43-101. Mr. Tylee has reviewed and approved the technical information presented herein.

About Exploits Discovery Corp.

Exploits is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in Newfoundland and Labrador, Canada. The Company is actively exploring its gold projects in the Exploits Subzone, covering approximately 2,000 square kilometres of mineral tenements. The Company's Exploration 2.0 methodology is focused on discovering high-grade structurally hosted epizonal gold similar to New Found Gold's success at the Keats and Lotto Zones in the Appleton zone. Exploits is leveraging its local team and geologic understanding to become one of the most extensive explorers in the Exploits Subzone.

On Behalf of the Board
/s/ "Jeff Swinoga"
President and CEO

For more information, please contact:

Shanda Kilborn
VP, Investor Relations
+1 (778) 819-2708
investors@exploits.gold
https://exploitsdiscovery.com

Neither the Canadian Securities Exchange nor its Regulation Service Provider (as the term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of accuracy of this news release.

Forward-Looking Statements

This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.

Acknowledgments
Exploits Discovery would like to acknowledge the financial support of the Junior Exploration Assistance Program from the Department of Natural Resources, Government of Newfoundland and Labrador.

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