Sierra Growth Corp. Samples 26.6 g/t Au and 78.6 g/t Ag from Mildred Mine Area; Sets the Stage for Upcoming Exploration

DELTA, BC, April 13, 2021 /PRNewswire/ - Sierra Growth Corp. (the "Company" or "Sierra") (CSE: SGRO) (OTC: SIERF) (FSE: F9IQ) is pleased to announce the results from due diligence property evaluations in which grab/character samples were collected from its newly acquired properties in Nevada (collectively "the Projects"). All three properties, Glitra/Sat, Mildred/B&C Springs, and Betty East, were held for over twenty years by the underlying rightsholders.

Highlights

• Mildred Mine area
• grab and character sampling yielded a grab sample running 26.6 g/t Au and 78.6 g/t Ag
• another sample running 667 g/t Ag (21.4 ounces per tonne) and 0.41 g/t Au
• most other samples contain elevated base metal contents (copper to 6.3%, zinc to 8.36% and lead to 3.06%) and "pathfinder" elements (e.g., bismuth, tellurium, and tungsten) along with anomalous gold and silver (Table I).
• Glitra/Sat property
• All sixteen samples collected yielded strongly anomalous results for gold, silver, assorted epithermal gold pathfinders (e.g., arsenic, antimony, and bismuth), and along with the extensive gold-in-soil geochemical anomaly at Sat and the presence of widespread silver-gold epithermal mineralization on adjacent properties, the results are suggestive of excellent potential (Table II).
• Betty East
• Consistently elevated values for epithermal precious metals system pathfinder elements such as arsenic, bismuth, and antimony, along with values of up to 0.53 g/t Au and 646 g/t Ag (20.8 ounces per tonne), the results are suggestive of the presence of a high-level epithermal system (Table III).

*Note that grab samples are selective samples and not necessarily representative of mineralization on the Company's properties.

Sonny Janda, President and CEO, states, "Based on historic and recent results and the setting of the Properties within well documented, high-value gold-silver mineralized trends, management believes that the next phases of exploration will delineate high quality exploration targets and that the property package has excellent potential for discovery of a material mineral deposit."

About the Nevada Projects

Mildred/ B&C Springs
The Mildred claims, the historical Mildred mine, and the nearby B&C Springs property are located in the southern Paradise Range in west-central Nevada, within the Fairplay Mining District, which is readily accessible from nearby Hawthorne or Tonopah via highways and well-maintained gravel roads and off-road trails (Figure 1). Exploration at B&C Springs was previously focused on skarn and vein occurrences hosting molybdenum, copper, and silver, which were interpreted to be genetically associated with Triassic-Jurassic intrusions such as the nearby Buzzard Peak stock. B&C Springs hosts a historical but non-NI 43-101 compliant molybdenum-copper resource of approximately 100 million tons at a grade of 0.048% molybdenum and 0.07% copper that lies at depth (Tribe 2007). Historical workings are ubiquitous across the property, and on the contiguous Mildred property, precious metals mineralization within the host sedimentary rocks is associated with calc-silicate horizons, fault zones and dikes of probable Tertiary age. The possibility that a secondary epithermal event has overprinted an earlier porphyry/skarn mineralizing event will be evaluated. The area encompassed by the B&C Springs-Mildred properties total approximately 1,450 acres.

Glitra/Sat
The Glitra/Sat claims are located in Pershing County, western Nevada, in the Seven Troughs Range of the Farrell Mining District, which hosts numerous historical and modern–day mineral occurrences and deposits (Figure 1). The properties are 45 kilometres northwest of Lovelock, a fully serviced town on Interstate 80, and are accessible via paved and well–maintained gravel and dirt roads. Both the Glitra and Sat properties have seen historical small–scale mining and limited amounts of modern–day exploration, most recently in the 1980's and early 1990's, when trenching and limited shallow RC drilling was undertaken. Several known gold showings with attractive epithermal-style alteration and veining occur on the property. They are commonly associated with felsic dikes and lie along a mineralized trend that links the historical Seven Troughs mining area immediately south (Timberline Resources), with the Wildcat property (Waterton Global Resource Management) immediately north. At Sat, an extensive and high-tenor gold-in-soil geochemical anomaly lies along a sub-parallel trend that was outlined by previous operators and is similarly associated with epithermal-style alteration and local veining. The total area encompassed by the Glitra and Sat properties equals roughly 1,130 acres.

Betty East
The Betty East property is located in west-central Nevada, approximately 40 miles north of the town of Tonopah, in Nye County. The claims, which cover 403 acres, lie at the southern end of the Manhattan Mining District, immediately north of Liberty Gold's Baxter Springs project and less than 20 km south of the world class Round Mountain mine (2020 gold equivalent production of 324,277 ounces, proven and probable reserves as of December 31, 2020 of 2.245M oz Au, and >15 million ounces of total production¹). Work on the Betty East property by Nevada Goldfields in the 1990's outlined a north-northwest trending gold-mineralized zone on the core claims that coincides with a number of historical pits, shallow shafts, and adits and this trend will be the initial focus for the Betty East exploration program. The property is readily accessible from Tonopah via state highway 376 and a network of well-maintained gravel roads.

Next Steps
Starting in April 2021, Sierra will commence Phase I of its proposed systematic work program on the properties, beginning at the Glitra/Sat project, proceeding to Mildred/B&C Springs, and continuing to Betty East. The initial exploration work will begin with soil geochemistry (initially using a portable XRF), prospecting, and reconnaissance geological mapping. Should the results of the Phase I work prove encouraging, it will likely be succeeded by airborne magnetic and ground-based induced polarization (IP) geophysical surveys in a second phase. Phase I work is expected to take approximately three to four weeks of field work. The ultimate objective will be to delineate targets for follow-up with first-pass RC drilling.

Investor Relation Services
The Company has entered into a 3-month agreement with Apaton Finance GmbH of Hannover, Germany to provide investor relations services. The Company will pay 8,500 euros per month, and the contract is extendable if the Company so elects.

Stock Option Issuance
The Company has granted a total of 1,570,000 incentive stock options to certain directors, officers, employees and consultants of the Company pursuant to the Company's Stock Option Plan.  The options are exercisable at $0.25 per share and expire two (2) years from the date of grant. A portion of the grant was issued to Apaton Finance GmbH which performs IR services for the Company and will be subject to a statutory vesting period.

Technical data pertaining to this new release was reviewed and approved by Charles J. "Charlie" Greig, MSc., P.Geo., a qualified person under National Instrument 43-101.

Table I. Rock sample geochemistry--B&C Springs and Mildred properties.

Table II. Rock sample geochemistry--Glitra and Sat properties.

Table III. Rock sample geochemistry--Betty East property.

ON BEHALF OF THE BOARD

"Sonny Janda"
_________________
Sonny Janda, Director

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

This news release includes certain statements that constitute "forward-looking information" within the meaning of applicable securities law, including without limitation, statements that address the timing and content of certain agreements and development. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks, including the ability of the Company to raise the funds necessary to fund its projects and, accordingly, may not occur as described herein or at all. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include Covid-19 restrictions, market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Readers are referred to the Company's filings with the Canadian securities regulators for information on these and other risk factors, available at www.sedar.com. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward- looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation."

View original content to download multimedia:http://www.prnewswire.com/news-releases/sierra-growth-corp-samples-26-6-gt-au-and-78-6-gt-ag-from-mildred-mine-area-sets-the-stage-for-upcoming-exploration-301267529.html

SOURCE Sierra Growth Corp.