Getchell Gold Corp. Reports on Drill Results, Fondaway Canyon Gold Project, NV

Toronto, Ontario--(Newsfile Corp. - October 20, 2021) - Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) ("Getchell" or the "Company") is pleased to provide the results for drill hole FCG21-09, part of the ongoing 2021 drill program at the Fondaway Canyon Gold project in Nevada.

Key Highlights

• Hole FCG21-09 intersected a previously unmodelled gold zone above the North Fork zone grading 1.2 g/t Au over 32.6m;
• Hole FCG21-09 tracked along the upper limits of the North Fork gold zone with several distinct intervals of mineralization;
• The North Fork zone remains open in most directions and warrants significant follow-up;
• Assays are pending for hole FCG21-10, that targeted the North Fork Zone up-dip from FCG21-09;
• Assays are pending for Hole FCG21-11, that targeted the Colorado SW and Juniper gold zones with a down-dip step out of FCG21-08's impressive gold intercepts; and
• Hole FCG21-12 targeting the Colorado SW gold zone with a down-dip step out of FCG21-05's substantive intercept grading 1.8 g/t Au over 90m is complete and awaiting shipment to the lab.

"The Fondaway Canyon Gold Project is a brilliant example of drilling success, as evidenced by the 2020 and ongoing 2021 drill programs that have reported substantive and additive gold mineralization which remains open in nearly all directions. The near-term objective is to continue to expand and define the gold mineralization at Fondaway and maximize the inherent value upon which we will be starting from next year," states Mike Sieb, President, Getchell Gold Corp., adding, "Getchell has already commenced planning for a more aggressive and active field exploration program across the Company's Nevada projects in 2022."

Fondaway Canyon 2021 Drill Program Update

Six drill holes, FCG21-07 through FCG21-12, totalling 2,600 metres have been drilled this year at the Fondaway Canyon Gold Project. All six holes are located in the Central Area and are following up on the discovery of the Colorado SW, the Juniper, and the North Fork gold zones during the 2020 drill program.

The first two holes drilled in 2021, FCG21-07 and FCG21-08, stationed at the Colorado Pit and drilled to the southwest targeting the Juniper and Colorado SW zones, returned highly remarkable gold intercepts (Company news release dated Sept. 16, 2021).

Drill holes FCG21-09 and 10 targeted the North Fork Gold Zone, respectively above and below the discovery hole drilled in 2020, FCG20-04, that graded 2.5 g/t Au over 58.0 metres within a broader zone of mineralization.

FCG21-09 was designed to parallel hole FCG21-04, spaced 50 metres above, and to test the down dip extent of the North Fork Zone (Figure 1). Hole FCG21-09 intersected a broad zone of gold mineralization grading 1.2 g/t Au over 32.6m at a higher elevation than projected for the North Fork zone. This zone of mineralization lines up to the west with gold intercepts reported from multiple historic drill holes and likely represents an upper and previously unmodelled gold zone. Additional drilling is required to determine the extent of this Upper North Fork zone.

FCG21-09 also intersected a number of other notable intercepts (Table 1) such as 1.3 g/t Au over 13.1m and 4.1 g/t Au over 5.4m. Getchell considers that the hole did not sufficiently penetrate the target zone and these intercepts represent the upper limits of the North Fork gold mineralization. Hole FCG21-10, targeting the North Fork Zone below the FCG20-04 discovery intercept, will provide additional information and assist in the interpretation.

The North Fork gold zone remains open in most directions and warrants significant follow-up.

Figure 1: North Fork Gold Zone (NE-SW) 3D Section Highlighting 2020 and 2021 Drilling.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3941/100282_d31632578410d82f_001full.jpg

Table 1: Fondaway Canyon Central Area - Drill Hole FCG21-09 Notable Gold Intervals

To view an enhanced version of Table 1, please visit:
https://orders.newsfilecorp.com/files/3941/100282_d31632578410d82f_002full.jpg

For Hole FCG21-11, the drill was moved back to the Colorado Pit (300 metres to the northwest) with the objective to expand upon the Colorado SW and Juniper gold zones (Figure 2). The core has been shipped to the lab and assays are pending.

Hole FCG21-12, designed to test the Colorado SW gold zone down dip from hole FCG20-05 (Figure 2) that intersected 1.8 g/t Au over 90.0m including 3.0 g/t Au over 45.3m (Company news release dated Feb. 10, 2021), is now complete and will be shipped shortly to the lab for analysis.

Figure 2: Colorado SW Gold Zone (NE-SW) 3D Section Highlighting 2020 and 2021 Drilling.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/3941/100282_d31632578410d82f_003full.jpg

Hole FCG21-13, stationed at the Colorado Pit drill pad, is in progress and is designed to test the near surface up-dip continuity of the Colorado SW gold zone, and to provide critical value with resource modelling.

Star Cu-Au-Ag Drill Program Update

Due to the continued success of the current Fondaway Canyon drill program, drilling at Fondaway will be carried through to the end of the season. Getchell is planning to secure two drill rigs to initiate the 2022 drill campaign with a dedicated rig at the Star Project to conduct a well-deserved, fuller, and non-time-constrained drill program while the second rig will continue to advance the Fondaway Canyon gold project.

Scott Frostad, P.Geo., is the Qualified Person (as defined in NI 43-101) who reviewed and approved the content and scientific and technical information in the news release.

The 2021 drill core is being processed using the same methods as the 2020 drill program. The core is cut at Bureau Veritas Laboratories' ("BVL") facilities in Sparks, Nevada, with the samples analyzed for gold and multi-element analysis in BVL's Sparks, Nevada and Vancouver, BC laboratories respectively. Gold values are produced by fire assay with an Atomic Absorption finish on a 30-gram sample (BV code FA430) with over limits re-analyzed using method FA530 (30g Fire Assay with gravimetric finish). The multi-element analyses are performed by ICP-MS following aqua regia digestion on a 30g sample (BV code AQ250). Quality control measures in the field include the systematic insertion of standards and blanks.

About Getchell Gold Corp.

The Company is a Nevada focused gold and copper exploration company trading on the (CSE: GTCH) and (OTCQB: GGLDF). Getchell Gold is primarily directing its efforts on its most advanced stage asset, Fondaway Canyon, a past gold producer with a significant in-the-ground historic resource estimate. Complementing Getchell's asset portfolio is Dixie Comstock, a past gold producer with a historic resource and two earlier stage exploration projects, Star and Hot Springs Peak. Getchell has the option to acquire 100% of the Fondaway Canyon and Dixie Comstock properties, Churchill County, Nevada.

The Company reiterates that its near-term strategy to advance its assets is not impacted by the COVID-19 Corona virus. The Company continues to monitor the situation and is in compliance with all government guidelines.

For further information please visit the Company's website at www.getchellgold.com or contact the Company at [email protected] or at +1 647 249-4798.

Mr. William Wagener, Chairman & CEO
Getchell Gold Corp.

The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.

Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the private placement and the completion thereof and the use of proceeds. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including: the receipt of all necessary regulatory approvals, use of proceeds from the financing, capital expenditures and other costs, and financing and additional capital requirements. Although management of Getchell have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

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