MacDonald Mines Exploration Ltd. announced the results of its Phase 1 drill program undertaken at the Alwyn Copper-Gold Trend and observations from the drilling completed at the Glade Gold Trend on its 100% owned SPJ Property near Sudbury, Ontario. Phase 1 Drill Program: MacDonald Mines Phase 1 2022 drilling program consisted of 693 m of oriented diamond drilling at the northern end of a 1.0 km-long high-priority target identified by GoldSpot at Alwyn, as well as 502 m of oriented diamond drilling at Glade. Alwyn Target: Phase 1 drilling at Alwyn consisted of five oriented diamond drill holes, totaling 693 m. Variably dense and multi-directional networks of quartz-carbonate to carbonate veins, comparable to the networks of veins associated with copper-gold mineralization at surface, were intersected in all five drill holes.

At surface and in diamond drilling in the Alwyn area, sporadic veins comprised of specular hematite + K-feldspar and variably associated with chalcopyrite mineralization were also observed. This iron oxide-bearing + K-feldspar alteration type is characteristic of mineral systems hosting IOCG deposits. Considering the observation of iron oxide alteration potentially associated with copper mineralization and the potential association of that alteration type with IOCG mineralization, the next phase of exploration at Alwyn will consist of a targeted gravity survey over the 2.5 km long Alwyn trend.

This survey will help to define the footprint of iron oxide alteration/mineralization, including potassium feldspar, earthy & specular hematite associated with mineralization and veins, extending to the southeast of the strongly mineralized zone in hole AW-22-102. Regional magnetic surveys indicate several interesting features along the Alwyn trend and McLaren Lake Fault. No gravity surveys have been completed in this area to date which is necessary to detect concentrations of specular hematite.

The results of the survey will be integrated into GoldSpot's machine learning technology to generate additional targets for future drilling and exploration. The strongest zone of quartz-carbonate veining associated with chalcopyrite and pyrite mineralization was intersected in hole AW-22-102 that was drilled in a previously untested area east of the historical Alwyn Mine. The broad interval of mineralization and alteration consists of two zones of stronger mineralization (referred to as the Upper and Lower Zones) separated by a zone of pervasive but weaker mineralization.

Quartz-carbonate, carbonate and hematite-carbonate veining variably mineralized with chalcopyrite and pyrite persisted over 100 m in the drill hole, including a 3 m quartz-carbonate vein that contains 3.99 % CuEq (1.36 % Cu, 3.87 g/t Au and 3.05 g/t Ag). The location of AW-22-102 suggests that the copper-gold vein system remains prospective to the south, as it was predicted by GoldSpot, where the high priority Alwyn target extends for 1.0 km. Phase 1 drilling also confirmed veining and mineralization over a 115 m strike length and demonstrated that mineralization remains open in all directions.

In the other drill holes, mineralized zones consisted of 5-10% veins spanning broad intervals up to 116m, crosscut by occasional, narrow (<10m) Nipissing diabase dykes. Approximately 30% of veins carry mineralization, consisting of chalcopyrite and pyrite up to 5%, but typically containing 0.5-2% total sulphides. Comparably to hole AW-22-102, hole AW-22-098, the furthest hole to the west, intercepted a broad zone of copper-gold mineralization with the Upper and Lower Zones carrying more consistent mineralization.

Glade Gold Target: In the Glade Gold Trend, 502 m of drilling tested the extension of the Glade systems following positive drilling and trench work completed in 2021. Mineralization appears to follow the upper and lower contacts of a Nipissing sill with Huronian sedimentary rocks, potentially spanning a 3 km east-southeasterly trend, as indicated by GoldSpot's targeting results. The goal of this program was to target high grade gold mineralization down plunge from Au-bearing quartz veins hosted in the Nipissing diabase that were identified on surface and in 2021 drilling and trenching campaign.

Similar quartz-carbonate vein systems as those observed throughout 2021 trench work and drilling, were observed in all three new drill holes. Visible gold in quartz veins was also identified in all three drill holes from the 2022 drilling in the Glade system. At approximately 28 m n hole AG-22-105, many specks of visible gold were observed in a quartz-chlorite vein, down plunge from Au-bearing veins measured in trench AGT-21-002 in 2021, which included 7.19 g/t Au over 4.0m in channel samples.

Assay results for Glade are pending, but visual observations made in core suggest that additional exploration can extend the footprints of gold mineralization in the Glade Gold Trend.