Go Metals Initial Drill Results from PGE Central Zone

Vancouver, British Columbia--(Newsfile Corp. - December 5, 2022) - Go Metals Corp. (CSE:GOCO) ("Go Metals" and/or the "Company") is pleased to announce preliminary results as part of a new discovery on the HSP exploration stage nickel-copper-cobalt (Ni-Cu-Co) sulphide project located in Quebec (the "HSP").

Scott Sheldon, CEO of Go Metals stated, "The first assays highlight the potential at HSP with an encouraging interval in hole HSP-22-08. The remaining eight drill holes are being processed by the lab and will be reported when received and interpreted."

Image 1: Preliminary drill section at HSP-22-08.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/5946/146810_image1%20(3).jpg

HSP-22-08 PGE Central Target encountered two intercepts. A 10 metre massive sulphide breccia at 0.34% Ni, 0.31% Cu and 0.05% Co from 51 metres downhole (including 1m of 0.69% Ni, 0.62% Cu, and 0.11% Co) and a lower-grade, wider semi-massive sulphide interval of 16 metres along the hole of 0.13Ni%, 0.17% Cu and 0.02% Co from 29 metres downhole. Core logging and interpretation show variation in sulphide body thickness, widening at depth to the west.

HSP-22-10 PGE North Target intercepted anomalous nickel, copper, and cobalt values from 6m to 57.8 metres downhole averaging 290ppm Ni, 159ppm Cu and 65ppm Co. One notable intercept within the hole included 1.6 metres along the hole of 0.19% Ni, 0.15% Cu and 0.03% Co. The results indicate the 440m by 220m wide conductive anomaly is caused by nickel-copper-cobalt sulphide mineralization which has yet to be properly tested with drilling.

HSP-22-03 Chamber South Target was an abandoned hole that did not reach the target. The hole was increasing in nickel copper content towards the target with a 2.2 metres ilmenite-magnetite rich layer including >10% titanium (Ti) and 27% iron (Fe) with anomalous base metal values (558ppm Ni, 395ppm Cu, 160ppm Co). 

Table 1: Summary of Preliminary Results

*Intercepts are reported as core length, true widths are not known

Table 2: Collar Locations

 Initial drilling at the PGE Central Zone shows the nickel bearing horizons are occurring parallel or sub-parallel with the contact of the anorthosite and gneissic host rock. With the maiden drilling program complete (additional assays pending) it is now apparent that the major mineralization trend follows this orientation. This new understanding of the regional geology indicates that the original PGE Central discovery mineralization at surface was not properly tested. By incorporating this new information into the evolving geological model at the Property, the upcoming and fully funded Phase 2 drilling program will be well situated to further advance the understanding of this brand-new nickel district.

Sampling, Assays and QAQCSample selection is based on visual occurrences of sulphides. Selected intervals were half-cut with a diamond rock saw in IOS facility in Saguenay and the consistent half was sent to ALS-Minerals laboratories in Val D'Or. Samples were crushed at 70% -2mm, split to 500 grams, and pulverized at 90% -70 um (Method Prep-31). Base metal assays were made by ICP-AES after aqua-regia digestion (method ME-ICP-61). Gold, platinum, and palladium were assayed by fire-assay on lead bead on 30 grams load, with ICP-MS finishing (method PGM-ICP23). ALS is an ISO-17025 accredited facility. Quality control procedure included the insertion prior to shipment of barren quartz material as sample blanks (7.3% of sample) as well as certified reference material (OREAS-86, PTC-1a, WMS-1a, 13.8% of samples).

Samples were analysed using four acid digestion and ICP-AES finish. PGE and Au values are determined through fire assay PGM-ICP23. Rigorous QAQC protocols were used including standards and blanks at the start and end of lab sample sheets as well as with insertion at regular intervals.

Qualified PersonHugues Longuépée, P.Geo., is the qualified person ("QP") for the Company as defined in the National Instrument 43-101 and has reviewed the technical information presented within this news release. The QP for the Company has not verified the historic sample analytical data disclosed within this release.

About Go MetalsGo Metals targets Canadian battery metal projects to help power a sustainable future. The Company's flagship is a nickel-copper sulphide project 130 kilometres north of Havre-Saint Pierre, Quebec in the Nitassinan of the Innu of Ekuanitshit.

For further information, please contact:

Scott Sheldon, President604.725.1857[email protected]

Forward-Looking Information:This press release may include "forward-looking information" (as that term is defined by Canadian securities legislation), concerning the Company's business. Forward-looking information is based on certain key expectations and assumptions made by the Company's management, including future plans for the exploration and development of its mineral properties, future production, reserve potential, and events or developments that the Company expects. Although the Company believes that such expectations and assumptions are reasonable, investors should not rely unduly on such forward-looking information as the Company can give no assurance they will prove to be correct. Forward-looking statements in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to publicly update any forward-looking information (whether as a result of new information, future events or results, or otherwise) other than as required by applicable securities laws. There are a number of risk factors that could cause future results to differ materially from those described herein. Information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedar.com.

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