White Steel Begins 3,000 Meter Drill Program on Tower Inventory Gold Challenge, Ontario

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THUNDER BAY, Ontario, July 6, 2021 (GLOBE NEWSWIRE) – White Steel Assets Corp. (TSXV: WHM) (FRA: CGK1) (OTCMKTS: TNMLF) (“White Steel” or the “Firm”) is happy to announce that it has commenced its summer season drilling program on the Tower Inventory gold property (the “Property”) which is situated roughly 40 km to the west-northwest of the port metropolis of Thunder Bay. , Ontario and covers roughly 1,968 hectares. The diamond drilling program is anticipated to take between 4 and 5 weeks and a complete of three,000 meters is anticipated.

Michael Stares, President and CEO of White Steel, mentioned, “I’m very excited to start this second spherical of drilling and equally excited to drill the brand new Ellen space. We even have many different wonderful targets which have been chosen for drill testing from the latest DASVISION IP survey and 3D magnetic interpolation. The drilling program may even deal with untested areas of the Bench Zone which have separations within the borehole of as much as 75 to 100 meters and subsequently a substantial quantity of detailed drilling is required. One other key side of the drilling program will probably be to check the chance that the UV Zone, the Ellen Zone and the Bench Zone all hook up with the South D Zone, which can give the gold zone a strike size of 1.5 km. The H Zone may even be examined by drilling to see if the gold mineralization does certainly dip 60 levels to the southwest, because the outcomes of final winter’s drill program suspect. I sit up for sending the core to the lab and speaking the take a look at outcomes to our shareholders. “

The newly found Ellen Zone, situated roughly 340 meters south of the UV Zone and roughly 300 meters north of the Bench Zone, is an space that has not been traditionally drilled and is open in all instructions. The drilling marketing campaign will deal with a number of key areas, together with:

  • To additional take a look at and broaden the newly found Ellen Zone, as proven in drill gap TM-21-94, which returned 1.7 g / t Au over 82.5 meters, together with 3 g / t Au over 45 meters, and together with 1.5 meters at 58 g / t Au and 198 g / t Ag (see press launch of April 20, 2021);
  • Tracing of the Ellen space to the northwest and southeast;
  • Extension of the bench space each to the north-west and to the south-east;
  • Extension holes to observe up drill gap TM-21-97, which intersected anomalous gold mineralization alongside most of its size of 347.71 m (47% of 229 samples> 100 ppb Au, as much as a most of two.16 g / t Au) and supported the interpretation that the Bench zone plunges 50 to 60 levels to the southwest;
  • Confirming the Firm’s interpretation that the Bench Zone is open in all instructions;
  • Zone D extension take a look at, TM-21-95 which returned 0.63 g / t Au over 63.5 meters. This huge intersection of elevated gold mineralization is situated 300 meters southeast of TM-21-95 and is believed to attach with the Bench Zone to the north;
  • Check as much as three IP targets; 1) related to and proximal to zone 04-36 which isn’t examined, 2) an in depth anomaly occurring between the UV and Bench zones and is basically untested, and three) an anomaly situated within the extent south of the general goal zone) with a historic gap TM-07-57 that drilled alongside the western fringe of the anomaly and returned 0.37 g / t Au over 79.5 meters; and
  • Check by excessive resistivity which underlies the vast majority of the Ellen zone.

To view the connected infographic “Tower Inventory Gold Property: Drill Holes, Geophysics, and Basic Geology”, please go to:https://www.globenewswire.com/NewsRoom/AttachmentNg/180d4c2a-8e2e-4462-9e4f-85209e0af839

An in depth description of the deliberate drilling areas may be discovered on the Firm’s web site (https://www.whitemetalres.com/tower-stock-au.html).

All drill gap intersections proven right here symbolize drill core lengths (intervals) and aren’t thought of precise widths.

Certified particular personThe technical data on this press launch has been reviewed and accepted by Dr. Scott Jobin-Bevans (P.Geo.), Vice President Exploration and Director of White Steel, who’s a Certified Particular person as outlined by the usual. NI 43-101. .

About White Steel Assets Corp. :White Steel Assets Corp. is a junior exploration firm exploring in Canada and southern Africa. The 2 key properties of the corporate are the Flagship Tower Inventory Gold venture in Thunder Bay, Ontario, Canada and the Okohongo Copper-Silver venture in Namibia, Africa. For extra details about the corporate, please go to www.whitemetalres.com.

On behalf of the board of administrators

Michael is watching“President and CEO

For extra data contact:Michael Stares President and CEO White Steel Assets Corp. 684 Squier Avenue Thunder Bay, ON P7B 4A8 Telephone: +1 (807) 358-2420

Nancy Massicotte Investor Relations White Steel Assets Corp Telephone: +1 (604) 507-3377 TF: +1 (866) 503-3377[email protected]


The knowledge contained on this doc incorporates “forward-looking statements” throughout the that means of relevant securities legal guidelines. Ahead-looking statements relate to data primarily based on administration’s assumptions, forecasts of future outcomes and estimates of quantities not but determinable. All statements that specific predictions, expectations, beliefs, plans, projections, aims, assumptions or future occasions or efficiency aren’t statements of historic truth and could also be “forward-looking statements”.

Ahead-looking statements are topic to varied dangers and uncertainties that might trigger precise occasions or outcomes to vary from these mirrored in forward-looking statements, together with, with out limitation: dangers regarding the lack to acquire enough funding on a well timed foundation and on acceptable phrases; dangers related to the result of authorized proceedings; political and regulatory dangers related to mining and exploration; dangers related to sustaining inventory market listings; dangers related to environmental rules and legal responsibility; the potential for delays in exploration or growth actions or the completion of feasibility research; uncertainty of profitability; dangers and uncertainties related to the interpretation of drilling outcomes, geology, grade and continuity of mineral deposits; dangers related to the inherent uncertainty of manufacturing and price estimates and the potential for unanticipated prices and bills; the outcomes of pre-feasibility and feasibility research, and the chance that future exploration, growth or mining outcomes might not meet the Firm’s expectations; dangers related to fluctuations within the value of gold and different commodities; and different dangers and uncertainties regarding the prospects, properties and operations of the Firm detailed elsewhere within the Firm’s disclosure file. If a number of of those dangers and uncertainties materialize, or if the underlying assumptions show to be incorrect, precise outcomes might differ materially from these described in forward-looking statements. Traders are cautioned towards assigning undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Firm assumes no obligation to replace or revise them to replicate new occasions or circumstances. Precise occasions or outcomes might differ materially from the Firm’s expectations or projections.

Gold property of the Tower

Tower Inventory Gold property: boreholes, geophysics and normal geology

Supply: White Steel Assets Corp.

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