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Aurwest Announces Multiple Intervals of Quartz Veining with Pyrite-Arsenopyrite at the Paradise Lake Gold Project, Central Newfoundland

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Calgary, Alberta--(Newsfile Corp. - March 14, 2022) - Aurwest Resources Corporation (CSE: AWR) ("Aurwest" or the "Company") is very pleased to provide an update on the 2022 maiden drilling program on its Paradise Lake Gold Project in central Newfoundland. Four drill holes have been completed on priority targets. The fifth hole of the initial 13-hole program is currently in progress.

The four drill holes reported in this news release targeted gold values in outcrop/subcrop/float that ranged between 11.3 and 144.7g/t gold. All drill holes intersected multiple intervals exhibiting a quartz-pyrite-arsenopyrite mineral association, described below associated with quartz veining quartz stockwork and quartz breccia.

Mr. Colin Christensen stated, "These four (4) drillholes represent the first ever drilling of gold occurrence in the Paradise Lake area. The intervals of quartz-pyrite-arsenopyrite mineral association for which assays are pending, are encouraging. These four drill holes tested a zone exceeding 800 meters of strike length exhibiting the quartz-pyrite-arsenopyrite mineral association with up to 144.7 g/t Au, associated with the interpreted Cape Ray-Valentine Lake Structural Zone. Several priority drill targets coinciding with chargeability anomalies identified in a 2021 IP program remain to be tested."

The reader is cautioned that the description of the intervals of quartz-pyrite-arsenopyrite reported in this news release are visual description from the four diamond drill cores. While these features are considered encouraging, there is no guarantee that these intervals will return significant gold values.

2022 Phase I drilling program:
Four (4) drillholes totaling 1,146 meters have been completed. The gold mineralization reported from the 2021 field program exhibited a strong quartz-pyrite-arsenopyrite mineral association similar to the intervals of quartz-pyrite-arsenopyrite mineralization intersected in the drilling completed to date. Nine (9) holes remain to complete the phase 1, 3,000-meter drilling program before the spring of 2022.

Drill hole locations are shown on the attached map.

Drill Hole Descriptions:
PL-22-01
(293/-45) was drilled to 300m depth targeting 11.38 g/t Au in float associated with a positive chargeability/resistivity anomaly. The drill hole intersected a series of greywacke, two syenite intrusives and argillite. From 31.5 to 202m is a variably colored, moderately magnetic, syenite intrusion exhibiting patchy chlorite, K-feldspar/hematite and sericite associated with brecciation and quartz-calcite-chlorite veining. Quartz veining and quartz cemented breccias was intersected from 56-75m, 81-84m and 184.5-188m with up to 5% pyrite and lesser arsenopyrite. The hole ended at 300m in syenite.

PL-22-02 (293/-75) was drilled to 257m depth, targeting at a depth of 100m down dip; the quartz-pyrite-arsenopyrite veining seen in hole PL-22-01. The hole collared in syenite with local quartz-ankerite veining from 15-30m and trace pyrite. From 30-88m depth the hole intersected interbedded wacke, siltstone, and argillite and a 2m wide mafic sill at 82m exhibiting minor quartz-pyrite-carbonate veins. The syenite intersected from 88m to end of hole contained trace to 5% pyrite from 104-117m, 119-125m, 140-146m, and 184-191m associated with brecciation, quartz veining and moderate chlorite-carbonate-quartz alteration. The hole ended in unaltered, syenite/granodiorite.

PL-22-03 (285/-45) was drilled approximately 400m south of PL-22-01 & 02 targeting a 14.22 g/t Au float sample and a chargeability anomaly. The hole collared in siltstone from 12.6-20m containing moderate quartz-ankerite veining and a 1m wide, brecciated syenite sill with 1-2% pyrite. Syenite was intersected from 20-131m with quartz-ankerite-chlorite veining with brecciated intervals from 27-71m and 112-131m containing quartz veins are up to 0.6m wide, locally vuggy with up to 5% pyrite. The syenite shows an early flooding of quartz-chlorite crosscut by a network of white to grey quartz-veining with dismembered veins and breccias and locally up to 10% sooty pyrite infill. The contact between the greywacke and the underlying syenite is marked by a mafic dyke from 171-175m. Brecciated syenite from 175-181 hosts 2-5% fine-grained pyrite. Syenite continues to the end of hole at 251m depth.

PL-22-04 (265/-45) was drilled approximately 400m north of PL-22-01 and 02 targeting a 144.7 g/t Au in float/sub-crop sample. This area coincides with the western boundary of the syenite intrusion and overlie the interpreted CVRL structure. The hole collared into bedded siltstones and wacke from 8.5-17.5m. Syenite intrusions were intersected from 17.5-44.5m, 84-227m, and 291-338m (EOH). Siltstone and wacke intersected from 44.5-84m includes an 8m wide mafic dyke at a core depth of 71m. The second syenite intrusion (84-227m) contains quartz-carbonate-chlorite altered breccia zones with trace to 3% pyrite from 96-99m, 110-112m, 120-124m and 198-205m. From 227-291m, interbedded siltstone, wacke, and argillite were intersected, with the interval from 279-291m contains up to 2% disseminated pyrite associated with quartz-calcite veining. The hole ended in syenite at 338m.

Analytical Procedures:
Sample preparation and analytical work is being completed by Bureau Veritas Commodities Canada Inc. ("BV") located in Vancouver, B.C. Sample preparation followed BV's code PUL85. Gold and 36 trace elements concentrations will be determined using BV's code AQ202, ICP-ES/MS on a 30g sample. Aurwest's QA/QC protocol includes insertion of Standard Reference Material and blanks in the sample streams. BV has an ISO/IEC 17025 certification.

Qualified Person:
Elmer B. Stewart, MSc. P. Geol., is the Company's independent, nominated Qualified Person pursuant to National Instrument 43-101, Standards for Disclosure for Mineral Projects, and has reviewed and approves the scientific and technical information disclosed in this news release

On Behalf Of Aurwest resources Corporation

"Colin Christensen"
President and Chief Executive Officer

For additional information please contact:
Colin Christensen
Telephone: (403) 483-8363
Email: cchristensen@aurwestresources.com
Website: aurwestresources.com

About Aurwest Resources Corporation

Aurwest is a Canadian-based junior resource company focused on the acquisition, exploration, and development of gold properties in Canada. The Company currently has three Option Agreements to earn a 100% interest in Paradise Lake and Stony Caldera projects covering a 47,800-hectare (478 sq kms) package of gold exploration licenses within the emerging Central Newfoundland gold district. The Company also currently holds a 100% interest in the 28,294-hectare Stellar/Stars porphyry copper project, located approximately 25 kilometers southwest of Houston, British Columbia.

Forward-Looking Information

Statements included in this announcement, including statements concerning our plans, intentions, and expectations, which are not historical in nature are intended to be, and are hereby identified as "forward-looking statements". Forward looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward-looking statements. Any forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, except in accordance with the applicable laws.

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.



Plan map showing four completed holes and planned drill hole targets corresponding with chargeability anomalies

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/7275/116603_e5aa372b649cc834_001full.jpg

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/116603