Walker Announces Drill Results from the Lapon Gold Project

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VANCOUVER, British Columbia, Oct. 26, 2021 (GLOBE NEWSWIRE) -- Walker River Resources Corp. (“Walker” or the “Company”) (TSX-V: “WRR”) is pleased to announce additional drill results from the 2021 reverse circulation (“RC”) drill programs at its 100% owned Lapon Gold Project located approximately 60 kilometres southeast of Yerington, Nevada.

This latest phase of drilling was necessary to determine structure and morphology for 3D geological modelling. Drilling was concentrated on the boundary contacts of the gold mineralization with the surrounding country rock (granite). The mineralization continues to be open along strike both to the NE and SW. The previously reported results of high grade and significant widths encountered in RC drillhole LC 21-65 is very important in this regard. It opens mineralization to the NE and may be the continuation of the high-grade corridor some 500 meters to the east. Infill and follow up drilling will target this discovery in the next phase of drilling scheduled to begin at the end of the month.

RC drillhole LC 21-67 returned 1.61 g/t Au over 29 meters beginning at 26 meters from surface, a further significant width of mineralization. RC drillhole LC 21-64 returned notable widths as shown in the assay table below. RC drillhole LC 21-62 returned 1.32 g/t Au over 1.5 meters at 36 meters from surface in granite. This hole is significant as another unexpected gold discovery in unaltered granite which has occurred some 10 times since the beginning of the project.

Key Highlights:

• The results from the drilling expand the gold mineralization at Lapon Canyon, further define the direction and dip of the higher-grade structures and expanded gold mineralization both laterally and to depth as shown in LC 21-65 (previously announced) and in LC 21-70.
• The drill program is designed to ascertain granite contacts and their relationships with the altered gold mineralized alteration zones. We continue to intercept gold assay results in what was previously believed to be barren granite (LC 21-62).
• This phase of the 2021 drill program will now target the higher-grade trends and expand the new gold mineralization previously discovered at the 8800-foot elevation, and at the Honeypot, Holes LC19-42 and 43, lateral extension and infill of LC 21-65, among other targets.
• The 2021 drill programs at Lapon Canyon consist of systematic drilling on section for geological modelling purposes, as well as exploration drilling to discover new gold mineralization and extend known gold mineralization.

As of this news release the Company has received assay results from 72 drillholes at the Lapon Project. Of these, 19 returned significant higher grades, 23 returned significant lower grades, 16 were carried out in unaltered granite, and 12 were lost/abandoned. The most recent drill results from the Lapon Gold Project are summarized in the table below.

Assay Table: Summary of Drill Results:

**True widths approx. 75-80%

Holes LC 21-66, 71, and 72 did not reach their intended target.

The next phase of drilling is scheduled to begin at the end of this month, following up and targeting the extensions of the high-grade zones and corridors, both at depth and along strike, as discovered in previous drilling at Lapon Canyon.

The Company will also complete an initial drill program at the Pikes Peak portion of the Lapon Gold Project. Significant historical mining activities are present (shafts, adits, mill) in a copper-gold setting. Sampling by the Company returned values of 9 g/t gold and 2.2% copper from outcrop here. It is significant that there are no records of past drilling or modern-day exploration ever carried out at Pikes Peak.

The gold mineralization at Lapon Canyon is contained in a wide (300 meters), long (over 4km strike length), intensely altered (sericite, iron oxides) sheared and faulted NE trending zone. Gold mineralization is present pervasively throughout as an envelope of lower grade mineralization (0.5 to 2.0 g/t Au) enveloping distinct high-grade structures, that have been drilled over a strike length of over 850 meters and a vertical extent of 400 meters. The high-grade gold mineralization is encountered in discrete, traceable zones located at the intersection of flat lying porphyry dikes and vertical stockwork fracture chimneys.                                                                                                                          About the Lapon Gold Project

The Lapon Gold Project consists of 147 claims (2940 acres) situated in the Wassuk Range, within the Walker Lane shear zone, a 100 km wide structural corridor extending in a southeast direction from Reno, Nevada. The Project is easily accessible by secondary state roads from the main highway (25 kilometres), and is located approximately 60 kilometres southeast of Yerington, Nevada. A state power grid transmission line passes within three kilometres of the Project.

The Lapon Gold Project includes Lapon Canyon, the Pikes Peak claims located 4 kilometres to the north, and the Rattlesnake and Range Front claims 3 kilometres to the west and over 600 meters lower than the present drilling at Lapon Canyon. The Rattlesnake, Range Front, and Pikers Peak claims cover over 8 km of possible extensions of the range front zones to the west, north, and south of Lapon Canyon, adding several additional drill target areas to the project. Rattlesnake and Pikes Peak contain numerous historical mining and milling areas that consist of adits at different levels, shafts and underground workings, and a network of existing roads providing access throughout. Little or no exploration work has been carried out on these claims prior to Walker’s arrival. It is notable that the Rattlesnake area and adits are on strike with the Lapon Canyon discoveries located 3 km on strike and 600 meters above.

Lapon Canyon hosts historical high grade gold mining with approximately 2000 feet of undergoing workings in three adits. Historical underground work returned numerous assay values in the one ounce per ton range, with a sample at the end of the A adit returning 20.6 ounces per ton Au. (NI43-101, Montgomery and Barr, 2004).

Sampling Methodology, Chain of Custody, Quality Control and Quality Assurance

All sampling was conducted under the supervision of the Company's project geologists and the chain of custody from the drill to the sample preparation facility was continuously monitored. A blank or certified reference material was inserted approximately every tenth sample. The Lapon Canyon samples were delivered to American Assays Laboratories’ certified laboratory facilities in Sparks, NV. The samples were crushed, pulverized and the sample pulps digested and analyzed for gold using fire assay fusion and a 50g gravimetric finish. Intensely altered samples used a 2 kg pulp screened to 100 microns. Duplicate assay on screen undersize. Assay of entire oversize fraction.

The scientific and technical content and interpretations contained in this news release have been reviewed, verified and approved by E. Gauthier, geol., Eng (OIQ) a Qualified Person as defined by NI 43-101, Standards of Disclosure for Mineral Projects.

ON BEHALF OF THE BOARD OF DIRECTORS

“Michel David”________________________Michel David,Chief Executive Officer and Director

FOR FURTHER INFORMATION PLEASE CONTACT:

Walker River Resources Corp.Tel: 819 874-0030Fax: 819 825-1199Email: [email protected]: www.wrrgold.com

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