VANCOUVER - Phoenix Gold Resources Corp. (the 'Company') (TSXV: PXA) (OTCPK: PGRCF) (Frankfurt: 5DE) is pleased to provide the assay results from nine diamond drill holes that were completed as part of the Company's successful first phase of drilling on the York Harbour Copper-Zinc-Silver Project situated 27 kilometres west of Corner Brook, Newfoundland.
The results presented below expand upon previously released results from selected sample submissions announced on October 12, 2021.
Highlights intersections from initial assay results
YH21-04 with 34 m of 0.91% copper, 79.74 g/t cobalt, 0.66% zinc, and 0.03 g/t silver
YH21-06 with 52.2 m of 0.85% copper, 91.8 g/t cobalt, 0.53% zinc and 1.75 g/t silver
YH21-08 with 6.6 m of 0.62% copper, 212.85 g/t cobalt, 0.65% zinc and 0.11 g/t silver
YH21-09 with 11.6 m of 1.41% copper, 202.94 g/t cobalt, 0.10% zinc and 2.41 g/t silver
The additional laboratory assay results from the Phase 1 confirmation drilling program further validate the historical drilling results with 9 of the 9 drill holes intersecting disseminated and massive sulphide mineralization in 296 samples, totalling 207.7 m of sampled core. The results presented below expand upon previously released results from selected sample submissions announced on October 12, 2021. The assay results suggest further mineralization potential extending beyond the historical 'A', 'G' and 'H' zones which were the focus of the Phase 1 program. The results also highlight potential for broader zones of mineralization extending beyond the previously known extents of mineralization identified in the historical records that are available. The results furthermore confirm the expected style of Volcanic Massive Sulphide - Cypress Type mineralization with previously undefined polymetallic mineralization types identified across zones of varying thickness and grade often at above average grade.
Higher grades from the 2021 Phase 1 drill program combined with often broad mineralized intersections, up to 52.5 m demonstrate excellent potential for bulk grade continuity both along strike and down dip extending beyond the known extent of mineralization identified historically at the 'A', 'G' and 'H' zones at the York Harbour project. Andrew Lee, President and CEO commented 'We are very encouraged with the excellent VMS copper-zinc-silver-cobalt potential on the York Harbour property, as demonstrated by these results of the first phase of drilling results. In addition to these excellent assay results, this drilling program showed that the known mineralization is both near surface and readily accessible by the existing underground workings. Based upon these results, the Company has proceeded with expanded drilling programs in the Main area and with exploration drilling targeting several identified VMS targets elsewhere on the property.'
About the York Harbour Mine Property
The York Harbour Mine Property is known to be prospective for its copper-zinc-silver-gold-cobalt massive sulphide deposits. The known mineralization exhibits characteristics consistent with classic mafic-type flow dominated (Cyprus-type) VMS deposits. Similar geological environments and styles of mineralization have formed relatively large VMS copper-zinc deposits elsewhere worldwide.
About the Company
Phoenix Gold Resources Corp. (TSXV:PXA) (OTCPK: PGRCF) (Frankfurt: 5DE) is an exploration and development company focused on the York Harbour Copper-Zinc-Silver Project, a mineral property located approximately 27 km from Corner Brook, Newfoundland. The Company plans to continue drilling the 11 known mineralized zones and test other new massive sulphide targets, like the No 4 Brook showing, while focusing on gaining access to the 400-level and Sea Level adits. The Company's Phoenix Gold Project is in Battle Mountain, Nevada, USA, and is described more thoroughly in the Company's geological technical report entitled, 'NI 43-101 Technical Report on the Phoenix Gold Project, Lander County, Nevada, USA' dated effective September 15, 2020 by Yingting (Tony) Guo, P.Geo. Nevada is considered one of the most active mining jurisdictions globally, and the Battle Mountain Mining district is well-known for production of gold, copper and silver over the past few decades. As described in the technical report, the Phoenix Gold Project is located within 5 km of Nevada Gold Mines' (Newmont/Barrick JV) Phoenix/Fortitude open-pit mining operations.
Contact:
Tel: +1-778-302-2257
Web: www.phoenixgoldresources.ca
Cautionary Statement Regarding Forward-Looking Information
This news release may contain 'forward-looking information' and 'forward-looking statements' within the meaning of applicable Canadian securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Forward-looking statements herein include but are not limited to statements relating to the prospects for development of the Company's mineral properties, and are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward looking statements.
YORK HARBOUR METALS INC. 
