CEO.CA Chairman's Briefing

ROUYN-NORANDA, Quebec, Dec. 16, 2024 (GLOBE NEWSWIRE) -- Radisson Mining Resources Inc. (TSX-V: RDS, OTCQB: RMRDF) (“Radisson” or the “Company”) is pleased to announce results from an important diamond drill hole at its 100%-owned O’Brien Gold Project (“O’Brien” or the “Project”) located in the Abitibi region of Québec.

OB-24-337 is an exploratory hole drilled to a depth of 1,700 metres, the deepest hole ever drilled at the Project and the first hole drilled directly below the historic O’Brien Mine workings. At approximately 1,500 metres vertical depth it intersected sheared and mineralized rocks of the Piché Group, the dominant host rocks for O’Brien gold mineralization, and returned 242.0 g/t gold (“Au”) over 1.0 metre within a mineralized interval that averaged 31.24 g/t Au over 8.0 metres.

Matt Manson, President and CEO, commented: “Following our “Jewellery Box” re-discovery news of December 9, 2024, we are taking the unusual step of releasing assays from another single drill hole today because of its particular significance to the future of the O’Brien Gold Project. Hole OB-24-337 was intended to be a pilot hole testing whether the Project’s host geology extended below the historic mine and to be a platform for future wedging and directional drilling. The fact that this hole intersected mineralization and visible gold at such a high grade greatly exceeded our expectations. Recall that approximately 75% of our existing Mineral Resource is defined at depths above 600 metres. On September 24^th we announced that drill hole OB-24-324 had intersected 27.61 g/t Au over 6.0 metres at 1,100 metres vertical depth. Now, we have new gold mineralization in a classic O’Brien setting at 1,500 metres vertical depth, a full 500 metres below the deepest workings of the old mine. It is clear that O’Brien gold mineralization is extensive at depth, implying significant future upside potential for the Project.”

Figure 1: Visible Gold in Drill Hole OB-24-337

Figure 2: Long Section in Oblique View of Gold Vein Mineralization and Mineral Resources at the O’Brien Gold Project, with Drill Hole OB-337 and Other Recent Deep Drill Holes Illustrated.

Table 1: Detailed Assay Results from Drill Hole OB-24-337

Notes on Calculation of Drill Intercepts:
The O’Brien Gold Project March 2023 Mineral Resource Estimate (“MRE”) utilizes a 4.50 g/t Au bottom cutoff, a US$1600 gold price, a minimum mining width of 1.2 metres, and a 40 g/t Au upper cap on composites. Intercepts from drill hole OB-24-337 presented in Table 1 are calculated with a 1.00 g/t bottom cut-off over a minimum 1.0 metre core length so as to illustrate the frequency and continuity of mineralized intervals within which high-grade gold veins at O’Brien are developed. Intercepts presented in the deep drill hole compilation in Table 2 are calculated with a 3.00 g/t Au bottom cut-off, representing the lower limit of cut-off sensitivity presented in the March 2023 Mineral Resource Estimate. Sample grades are uncapped. True widths, based on depth of intercept and drill hole inclination, are estimated to be 30-70% of core length. Lithology Codes: PON-S3: Pontiac Sediments; V3-S, V3-N, V3-CEN: Basalt-South, North, Central; S1P, S3P: Conglomerate; POR-S, POR-N: Porphyry South, North; TX: Crystal Tuff; ZFLLC: Larder Lake-Cadillac Fault Zone

Table 2: Compilation of All Deep Drill Holes Recently Published (see Radisson News Releases Dated September 24, 2024 and October 30, 2024. See “Notes on Calculation of Drill Intercepts”)

Notes
Deep Drill Holes OB-24-321 and OB-24 324W2 did not return any intercepts >3 g/t Au

Figure 3: Cross Section of the Historic O’Brien Mine Locating Drill Hole OB-24-337

Recent Deep Drilling Results

Today’s results from deep drill hole OB-24-337 are from the third batch of drill results released since September that have shown high grade O’Brien gold mineralization within Piché Group rocks well below the base of the existing Mineral Resource Estimate (“MRE”). Seven deep drill holes or drill hole wedges have been completed since this time. Six of the seven returned instances of visible gold and five of the seven returned drill intercepts well above the Project’s grade cutoff in the March 2023 MRE. The holes were drilled at northerly declinations with initial inclinations of between -65 and -85 degrees, followed by angling to provide a high angle of incidence with the southerly dip of the Piché Group rocks and vein mineralization. Estimated true widths of drill intercepts at the point of contact with mineralization is estimated to be 30-70% of core length.

Deep drill results since September 2024, summarized in Table 2, have now included:

• OB-24-322 with 8.75 g/t Au over 5.2 metres, including 27.20 g/t Au over 1.0 metre;
  
• OB-24-324 with 27.61 g/t Au over 6.0 metres, including 102.0 over 1.0 metre, and 6.83 g/t Au over 10.0 metres including 40.20 g/t Au over 1.0 metre;
  
• OB-24-324W1 with 5.48 g/t Au over 12.4 metres, including 12.10 g/t Au over 4.0 metres;
  

and now:

• OB-24-337 with 31.24 g/t Au over 8 metres including 242.0 g/t Au over 1.0 metre;
  

The frequency and grade of intercepts returned by these deep drill holes, as well as the observed host geology, its deformation, the style of alteration, and the mineralogical association of the gold mineralization, are all familiar from the historical O’Brien mine and consistent with the modern geological model developed at shallower depths. The implication is that characteristic O’Brien style gold mineralization is extensive at depth, well below the level of the historic mine workings and the current MRE.

Gold Mineralization at O’Brien

Gold mineralizing quartz-sulphide veins at O’Brien occur within a thin band of interlayered mafic volcanic rocks, conglomerates, and porphyric andesitic sills of the Piché Group occurring in contact with the east-west oriented Larder Lake-Cadillac Break (“LLCB”). Gold, along with pyrite and arsenopyrite, is typically associated with shearing and a pervasive biotite alteration, and developed within multiple Piché Group lithologies and, occasionally, the hanging-wall Pontiac and footwall Cadillac meta-sedimentary rocks.

As mapped at the historic O’Brien mine, and now replicated in the modern drilling, individual veins are generally narrow, ranging from several centimetres up to several metres in thickness. Multiple veins occur sub-parallel to each other, as well as sub-parallel to the Piché lithologies and the LLCB. Individual veins have well-established lateral continuity, with near-vertical, high-grade shoots developed over significant lengths. The historic O’Brien mine produced over half a million ounces of gold from such veins and shoots at an average grade exceeding 15 g/t and over a vertical extent of at least 1,000 metres.

Based on drilling complete to the end of 2022, the Project has estimated Indicated Mineral Resources of 0.50 million ounces (1.52 million tonnes at 10.26 g/t Au), with additional Inferred Mineral Resources of 0.45 million ounces (1.60 million tonnes at 8.66 g/t Au). Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
Current exploration is focussed on delineating well developed vein mineralization to the east of the historic mine, with additional high-grade shoots becoming evident in the exploration data over what has been described as a series of repeating trends (“Trend #s 0 to 5”).

Table 3: Drill Hole Collar Information for Holes contained in this News Release

QA/QC

All drill cores in this campaign are NQ in size. Assays were completed on sawn half-cores, with the second half kept for future reference. The samples were analyzed using standard fire assay procedures with Atomic Absorption (AA) finish at ALS Laboratory Ltd, in Val-d’Or, Quebec. Samples yielding a grade higher than 10 g/t Au were analyzed a second time by fire assay with gravimetric finish at the same laboratory. Mineralized zones containing visible gold were analyzed with metallic sieve procedure. Standard reference materials, blank samples and duplicates were inserted prior to shipment for quality assurance and quality control (QA/QC) program.

Qualified Person 

Disclosure of a scientific or technical nature in this news release was prepared under the supervision of Mr. Richard Nieminen, P.Geo, (QC), a geological consultant for Radisson and a Qualified Person for purposes of NI 43-101. Mr. Nieminen is independent of Radisson and the O’Brien Gold Project.

Radisson Mining Resources Inc.

Radisson is a gold exploration company focused on its 100% owned O’Brien Gold Project, located in the Bousquet-Cadillac mining camp along the world-renowned Larder-Lake-Cadillac Break in Abitibi, Québec. The Bousquet-Cadillac mining camp has produced over 25 million ounces of gold over the last 100 years. The Project hosts the former O’Brien Mine, considered to have been Québec’s highest-grade gold producer during its production. Indicated Mineral Resources are estimated at 0.50 million ounces (1.52 million tonnes at 10.26 g/t Au), with additional Inferred Mineral Resources estimated at 0.45 million ounces (1.60 million tonnes at 8.66 g/t Au). Please see the NI 43-101 “Technical Report on the O’Brien Project, Northwestern Québec, Canada” effective March 2, 2023, Radisson’s Annual Information Form for the year ended December 31, 2023 and other filings made with Canadian securities regulatory authorities available at www.sedar.com for further details and assumptions relating to the O’Brien Gold Project.

For more information on Radisson, visit our website at www.radissonmining.com or contact:

Matt Manson
President and CEO
416.618.5885
mmanson@radissonmining.com

Kristina Pillon
Manager, Investor Relations
604.908.1695
kpillon@radissonmining.com

Forward-Looking Statements

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections, and interpretations as at the date of this news release. Forward-looking statements including, but are not limited to, statements with respect to planned and ongoing drilling, the significance of drill results, the ability to continue drilling, the impact of drilling on the definition of any resource, the ability to incorporate new drilling in an updated technical report and resource modelling, the Company's ability to grow the O’Brien project and the ability to convert inferred mineral resources to indicated mineral resources. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements Forward-looking information is based on estimates of management of the Company, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the drill results at O’Brien; the significance of drill results; the ability of drill results to accurately predict mineralization; the ability of any material to be mined in a matter that is economic. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Company believes that this forward-looking information is based on reasonable assumptions, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. The Company does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law. These statements speak only as of the date of this news release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Three photos accompanying this announcement are available at: 

https://www.globenewswire.com/NewsRoom/AttachmentNg/0e6a2706-2f60-4445-ae2b-5dfbbcd3f8d7

https://www.globenewswire.com/NewsRoom/AttachmentNg/49406a2a-8bd9-453e-953c-377a7b7cf998

https://www.globenewswire.com/NewsRoom/AttachmentNg/17ed224a-1829-4499-8f05-f18a2de42b6f

Figure 1

Visible Gold in Drill Hole OB-24-337

Figure 2

Long Section in Oblique View of Gold Vein Mineralization and Mineral Resources at the O’Brien Gold Project, with Drill Hole OB-337 and Other Recent Deep Drill Holes Illustrated.

Figure 3

Cross Section of the Historic O’Brien Mine Locating Drill Hole OB-24-337