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Financial Press

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LAKE WINN OBTAINS PERMIT TO DRILL THE QUARTZ PROJECT IN MANITOBA, AIRBORNE GEOPHYSICS UNDERWAY

Highlights

  • A permit that allows access and drill testing on the Quartz project 76km SE of Flin Flon, Manitoba has been granted.
  • This, our 2nd gold project in Manitoba, contains historic high grade gold intercepts.
  • Some of the better intercepts include 1.28m @ 19.28 g/t Au, 3.35m@ 5.90 g/t Au, 1.37m @ 13.41 g/t Au, drilled by Hudson Bay Resources, and 3.05m @ 8.1 g/t Au, 5.8m @ 12.8 g/t Au and 3.27m @ 3.38 g/t Au, drilled by Tribune Uranium Corp.
  • This gold prospect was discovered by drill testing a conductor and the main exploration premiss is that the conductive horizon continues for 1.45km, historic drilling focus was along a smaller 250m zone.
  • A helicopter borne V-TEM survey is underway, results of the survey will be used to position drill collars.

March 9, 2021 – Vancouver, British Columbia – Lake Winn Resources Corp. (“Lake Winn” or the “Company”) (TSXV: LWR) (OTC: EQTXF) has been granted a new exploration permit on its 100% owned Quartz project in the Flin Flon gold belt, Manitoba.

The Quartz project lies near the southern shores in Reed Lake between the Reed Lake and Four Mile Island VMS deposits, approximately 78km to the East of Flin Flon.

The permit allows for access and drill testing around the known gold mineralization.

The Quartz project contains multiple drill hole intercepts containing gold.

A Helicopter based V-TEM survey is underway which will provide data that will be used to plan the drill testing.

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In 1975, diamond drill hole Eel-258 intersected 1.28m @ 19.9 g/t Au, whilst targeting a 1.45km long EM conductor. The hole was drilled by Hudson Bay Exploration and Development Co. Ltd. (“Hudson Bay”). Subsequently, Hudson Bay drilled 19 diamond drill holes into this gold bearing zone between 1975 and 1988. Fourteen of the 19 holes were drilled in a 200m long section of the conductor leaving most of the 1.45km long conductor untested. In 2007 the area was further drill tested by Tribune Uranium Corp., (“Tribune”). Tribune also encountered multiple gold intercepts but again they concentrated the drilling in the 200m zone already shown to contain gold by Hudson Bay. Highlights of the Tribune drilling include 5.8m @ 12.8g/t Au, and 1.43m @ 12.0 g/t Au.

Lake Winn’s main exploration objective is to drill test the entire 1.45km length of the conductor for extensions of the proven zone which as defined by the historic drilling is open to the east, to the west, and at depth. The heliborne time domain EM survey (TDEM). This survey will be used to accurately locate the conductive horizon, allowing 3D modeling of the conductor.

The transaction to obtain the core claims at the quartz project has been approved by the exchange.

Qualified Person

The Qualified Person for this news release is Buddy Doyle, AUSIMM, a Geologist with over 30 years’ experience in mineral exploration, discovery, and evaluation. A Qualified Person under the provisions of National Instrument 43-101.

About Lake Winn

Lake Winn Resources Corp., is a Vancouver based gold company, listed on the TSX Venture Exchange (Symbol: LWR) focusing on exploration and development of gold projects in Canada. The company’s flagship property, the Cloud Project is in the province of Manitoba, in the Flin Flon Gold Belt approximately 40 kilometers north‐east of the town of Flin‐Flon. Access to the property is provided by Manitoba highway 10 to the all‐weather Kississing Lake Road. The company is currently diamond drilling on this property. The company now has a second gold property in Manitoba, the Quartz project in Reed Lake reported in this release.

On Behalf of the Board of Directors of Lake Winn Resources Corp.

Patrick Power, President & CEO
+1 (604) 218-8772

https://www.lakewinnresources.com

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 release.

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