GGL Resources Corp. announced high-grade silver results, which compliment previously announced high-grade gold results, from the Fourth Quarter 2022 underground exploration program at its road-accessible Gold Point Project in the Walker Lane Trend of Western Nevada. The Orleans Mine is the larger of the four former producers on the Gold Point Property.

The 2022 work was able to access approximately 35% of the underground workings at the Orleans Mine. The highest-grade silver values do not directly correlate with the highest-grade gold results. In most cases, the best silver grades are found within the hanging wall adjacent to the vein faults.

These results are particularly encouraging as the historical workings are typically restricted to the footwall side of the vein fault and only extend significantly into the hanging-wall on the 300' Level. On this level of the workings, the mineralized vein is exposed over an area approximately 54 m long by 18 m wide and is still open to extension on all six sides. A total of 45 continuous chip samples and 10 rock samples were collected in Fourth Quarter 2022 from five of the eleven levels that comprise the Orleans Mine.

Only two of the 45 chip samples are considered un-mineralized, returning less than 0.3 g/t gold equivalent. The width of the chip samples was restricted by the size of the workings and in most cases the vein extends beyond the sampled interval. Historical maps indicate that known high-grade mineralization is concentrated in two gently eastward plunging shoots developed along a moderately northwest dipping vein fault.

Many of the drifts between these shoots do not follow along the vein fault and reference samples collected here are weakly mineralized. Initial surveys by GGL in 2022 have shown that historical mining did not remove all of the high-grade mineralization in these shoots and that they remain open at depth. In addition, the vein fault is exposed in the eastern-most working face of each level that was accessed, suggesting mineralization continues to the east beyond the existing workings.

Historical records from the lower levels not yet accessed by GGL describe 35 samples collected post-mining across the Orleans Vein from the 960 ft to 1020 ft levels, which averaged 0.389 opt (13.3 g/t) gold including a vein on the 1020 ft level that returned 7.97 opt (273.2 g/t) gold over 0.5 m. Next Steps: The next phase of exploration at the Orleans Mine will focus on restoring access to the lower levels and other areas of the mine not yet reached. Once complete, the workings will be surveyed, mapped, and sampled in detail. It is believed that many of the existing drifts between the known shoots lie in the footwall of the vein fault.

Mapping will confirm the orientation and location of the vein fault to aid in the targeting of underground drilling. It will also delineate cross faults that are believed to have created dilatant zones along the vein faults, which host the main mineralized shoots. About the Orleans Mine: The Orleans Vein was discovered in 1908 and mined intermittently until 1962.

Historical records indicate that approximately 74,000 ounces were produced from the Orleans and Great Western Mines, with recoveries of 92% to 98% for gold through cyanidation. Most of this production was from the Orleans Mine. It is estimated that there is almost 4,200 m of horizontal development in the Orleans Mine, accessible via the central Dunfee shaft.

The workings are mostly open and dry to approximately 275 m vertically below surface on the Orleans Vein (1020 ft level). About Gold Point: The Gold Point Project is situated alongside the community of Gold Point, which is accessed by Highway 774. The Gold Point property totals 4,917 acres (19.9 km2) and consists of 257 lode claims and 7 patented claims. The property covers past-producing underground mines that explored along parts of four prominent vein structures.

These main structures are paralleled by several other lightly explored structures. The mines operated intermittently from the 1880s to the early 1960s, producing gold and silver from mesothermal veins. The mineralization is strongly oxidized to the bottom of the workings, which reached a maximum depth of 1020 ft (311 m) downdip.