Taurus Gold Announces Soil Sample and VLF-Mag Survey Results on its Flagship Charlotte Gold-Silver-Zinc-Lead Property, Yukon, Canada

Edmonton, Alberta--(Newsfile Corp. - November 7, 2023) - Taurus Gold Corp. (CSE: TAUR) (OTCQB: TARGF) ("Taurus" or the "Company") is pleased to announce new sample and survey results from exploration fieldwork at its Charlotte Property, located in the emergent Dawson Range gold-copper-silver-zinc mining district in Yukon, Canada. The property, which encompasses an area of 23 square kilometers, is strategically situated and is accessible via road from the Village of Carmacks.

Mr. Frank Lagiglia, CEO of Taurus Gold Corp., stated, "We are pleased to report we have exciting new soil and surface geophysical results now in hand from our recently completed 2023 field program at the Charlotte property which has complimented the Company's recent impressive rock samples further advancing the Charlotte property."

Highlights:

Soil Samples:

Several well-defined polymetallic soil anomalies are revealed from close-spaced sampling on the four individual grids. These areas had seen historical soil sampling but on a much coarser scale; usually 25m stations on 100m spaced lines, making interpretation/target development more difficult due to the variable nature of the response of certain key pathfinder elements, or because historical analysis was limited to Au, Ag and Cu only.

The 2023 Soil program on 4 defined grids was conducted utilizing 50-metre line spacings and 20-metre station spacing to achieve a much tighter sample density. The total number of samples, excluding QA/QC samples, was 1,693.

A total of 87 individual soil results were returned that exceeded the 95^th percentile of 1.61 ppm Ag, including:

• 28.5 ppm Ag & 0.2 ppm Au from sample C0217441 on the Ed grid

• 15.6 ppm Ag, 0.3 ppm Au, & 2978ppm Pb from sample C0216682 on the GRW grid

• 5.3 ppm Ag, 0.35 ppm Au, 423 ppm Pb & 411 ppm Zn from sample CO218154 on the GRW grid

• 2.7 ppm Au & 1.1 ppm Ag from sample C0217199 on the Eliza grid

• 2.0 ppm Au from sample C0216898 on the Eliza grid

A table of significant soil sample results is shown below in Table 1. A map showing soil sample locations is included below (Figure 1).

Figure 1: Charlotte Property claim boundary showing the 2023 soil sample locations

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Table 1: Significant Soil Sample Results

Grid_name	Easting	Northing	Elevation_	Sample_No	Ag_ppm_0_0	Au_ppm_0_0	Cu_ppm_0_2	Pb_ppm_0_2	Zn_ppm_2
ED	386800.0	6882436.4	1375.0	C0217441	28.5	0.179	41.8	859.1	353.0
GRW	387674.7	6885308.0	1434.5	C0216682	15.6	0.276	179.6	2978.8	522.0
ED	386615.0	6882329.4	1336.0	C0217886	5.8	0.057	19.1	241.4	207.0
ED	386626.5	6882598.2	1301.7	C0216323	5.6	0.420	43.5	429.2	359.0
GRW	387614.1	6885386.2	1426.1	C0218154	5.3	0.345	44.7	423.6	411.0
GRW	387464.8	6885528.0	1402.5	C0216618	5.1	0.069	74.5	555.2	451.0
GRW	387425.3	6885536.1	1406.3	C0218088	4.8	0.157	80.5	259.2	210.0
GRW	387476.0	6885511.5	1429.0	C0217106	4.4	0.240	98.0	393.0	538.0
GRW	387429.3	6885564.8	1418.0	C0217090	4.3	0.120	84.5	326.2	195.0
GRW	387463.8	6885558.0	1395.7	C0218086	4.2	0.166	104.3	363.9	296.0
GRW	387428.5	6885566.9	1420.0	C0217089	3.9	0.101	83.8	261.6	185.0
ELISA	385298.9	6885719.9	1335.9	C0216758	3.6	0.117	94.8	91.0	79.0
ED	386665.3	6882463.0	1321.0	C0217868	3.5	0.026	24.4	31.1	97.0

 

Map coordinates in NAD 83, UTM Zone 8N.

A more detailed discussion on each grid follows:

DISCOVERY GRID (296 soil samples over ~18 ha):

• Coherent 1.9 ha As±Ag soil anomaly with values to 422 ppm As and 1.8 ppm Ag. Anomaly measures approximately 135m long by 115m wide, coincides with a large magnetic low, is on the eastern shoulder of a strong NW trending EM conductor; and is underlain by andesitic flows, breccia, and rhyolite tuffs of the Lower Cretaceous Mt. Nansen Gp. volcanic sequence. The anomaly is open on the SW and south edges of the grid.

• Coherent As±Ag soil anomaly with values to 221.5 ppm As and 0.9 ppm Ag. Anomaly measures approximately 80m long by 60m wide, coincides with a bulls-eye magnetic high, on the eastern shoulder of a strong NW trending EM conductor and NW trending linear moderate-strength EM conductor; and is underlain by andesite of the Lower Cretaceous Mount Nansen Gp. volcanic sequence in contact with older greenstone of the Devonian Snowcap Gp. succession. The anomaly is open to the SE of the grid.

• Drill hole RC-92-8^ from 1992 was drilled on the SW edge of the anomaly, and returned similar As values at surface

• Rock grab samples immediately north and on the eastern edge of the EM conductor returned 480 ppm Ag, 0.3 ppm Au, 395.6 ppm Cu, & 4434ppm Pb (sample C0216103); and 26.2 ppm Ag, 0.2 ppm Au, 4762ppm Pb and 5377ppm Zn (sample C0216017). See October 16, 2023 News Release.

^ Langdon, M, 1992; 1992 Assessment Report on the Reverse Circulation Drilling with Assays Carried out on the Discovery Creek Property (#093059).

Figure 2: Discovery Grid with Au-in-soil values (graduated) with contoured VLF data

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ED GRID (195 soil samples over ~12 ha):

• Numerous multi-station weak to locally strong Ag ± Au-As-Pb-Zn soil anomalies of varying size, orientations and geometries; that generally align with well-pronounced strong NW trending EM conductors, and are principally underlain by foliated biotite-hornblende granodiorite of the Triassic Minto Intrusive Gp.

• The highest recorded Ag soil value from the 2023 program was 28.5 ppm Ag & 0.2 ppm Au from sample C0217441 on the Ed grid which forms part of a discontinuous, liner, Ag- dominated multi-element soil anomaly that measures approximately 250m long by 80m wide (intervening lines were not sampled due to the presence of old trenches); and is coincident on its eastern side with a prominent magnetic high and discrete EM linears on a NW tangent.

• 23 samples returned Ag values > than the 95^th percentile for all soil results; and include 6 samples with Au results that range from 0.119 to 0.420 ppm.

• The Ed grid lies directly 200 metres NW of the Flex Zone which has been delineated by drilling over a northwest-trending strike length of 550 m and is defined by a network of stacked epithermal gold-silver-zinc-lead quartz veins.

• The pathfinder element signature of the soil anomalism is coincident with known mineralized epithermal veins on the Charlotte property, including the Flex Zone.

There is no record of drilling on the Ed grid; however, there are historic trenches across the grid and care was taken to avoid any obvious previous soil disturbance from existing cat tracks or trenches.

Figure 3: Ed Grid with Au-in-soil values (graduated) with contoured VLF data covering Ed Grid and Flex Zone

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ELIZA GRID (621 samples over 43 ha):

• Two distinct Ag ± Au-As-Pb-Zn soil anomalies are evidenced along or near the southern grid boundary.

• Coherent 1.7 ha Ag dominated soil anomaly with values to 3.57 ppm Ag, 0.275 ppm Au & 129.9 ppm As. Anomaly measures approximately 245m long by 95m wide, coincides within or on the shoulder of a magnetic low but with variable EM response (from linear high to indistinct low); and is underlain by biotite-hornblende granodiorite and diorite of the Early Cretaceous Whitehorse Plutonic Suite (Gp), in close contact with quartz monzonite & biotite quartz-rich granite of the Late Cretaceous Prospector Mountain Suite (Cyprus Porphyry).

• Coherent 1.2 ha Ag dominated soil anomaly with values to 1.6 ppm Ag, 98.4 pm Pb & 223 ppm Zn. Anomaly measures approximately 115m long by 75m wide, coincides within magnetic low and linear EM low; and is underlain by biotite-hornblende granodiorite and diorite of the Early Cretaceous Whitehorse Plutonic Suite (Gp.), in close contact with quartz monzonite & biotite quartz-rich granite of the Late Cretaceous Prospector Mountain Suite (Cyprus Porphyry).

• Whitehorse Plutonic Suite is the known host to Rockhaven's Klaza epithermal veins located west of the property boundary.

• Coherent 2.25 ha Au soil anomaly with values to 1.95 ppm; average of 9 samples in a cluster is 0.36 ppm Au. Measures approximately 170m long by 150m wide, and is coincident with a bifurcated, strong magnetic high & NW trending linear EM high; and is underlain by quartz monzonite & biotite quartz-rich granite of the Late Cretaceous Prospector Mountain Suite (Cyprus Porphyry).

• The strongest gold response from the four grids was from the Eliza Grid, where 47 samples returned Au values greater than the 95^th percentile (> 0.115ppm Au).

• The close proximity of the Cyprus Porphyry, coherent soil anomalism and coincident geophysical responses warrant additional detailed work on this grid.

Figure 4: Eliza Grid with Au-in-soil values (graduated) with contoured VLF data

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GRW GRID (581 samples over 55 ha):

• Numerous multi-station weak to locally strong Ag ± Au-As-Pb-Zn soil anomalies of varying size, orientations and geometries; that generally align with well-pronounced strong NW trending EM conductors, and underlain by biotite-hornblende granodiorite and diorite of the Early Cretaceous Whitehorse Plutonic Suite (Gp), in close contact with quartz monzonite & biotite quartz-rich granite of the Late Cretaceous Prospector Mountain Suite (Cyprus Porphyry).

• One prominent coherent 2.0 ha Ag soil anomaly with values to 4.8 ppm Ag, 203.9 ppm As, 0.166 ppm Au, 363.9 Pb & 394 ppm Zn. Anomaly measures approximately 150m long by 125m wide, and is coincident with a NW trending linear magnetic high coupled with a strong, linear EM conductor.

• A total of 54 samples exceeded the 95^th percentile (> 1.6 ppm Ag).

Figure 5: GRW Grid with Au-in-soil values (graduated) with contoured VLF data

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Ground Geophysics:

The survey work included approximately 35.2 line-kilometers of magnetometer/VLF survey where magnetic field readings were measured once per second, and VLF readings are measured every 10 m (nominal). Field equipment included GSM-19 magnetometers (mobile and base) and GEM VLF sensors. The surveys were conducted on virtual GPS grids, laid out in NAD83 UTM Zone 8. VLF-EM Transmitter Stations used were Jim Creek, Wahington (NLK, 24.8 Hz) and Lualualei, Hawaii (NPM, 21.4 Hz).

Table 2: Mag/VLF Survey Grid Details:

Grid Name	Lines	Line Spacing (m)	Orientation	length (km)	Total line-km
Discovery	8	50	NE-SW	varies	4.0
Eliza	14	50	NE-SW	varies	7.8
GRW	17	50	NE-SW	varies	9.5
ED	28	50	NE-SW	varies	14.2
Totals	67				35.2

 

Base magnetometers were set up near the daily levelling grid, with enough distance from the grid to avoid interference from operators during levelling. The base stations were installed in a magnetically quiet area and cycled at 1 second during the survey. Base station and field magnetometers were synchronized daily to GPS time prior to surveying. Diurnal geomagnetic variation was removed by linear interpolation and subtraction of the base station drift. The data collected were to be removed from the final data set if geomagnetic variation exceeded 10 nT over 10 seconds on a sustained basis. No data were collected when geomagnetic noise exceeded this specification, and therefore no data were removed from the final data set.

The mag and VLF data were downloaded at the end of each survey day and the raw, unedited data archived. A copy of the data was then corrected for the diurnal variations measured by the base mags using Geosoft's Oasis Montaj ™ software. This was also used to append the positioning data collected during the survey with non-differential handheld GPS units. Geosoft's MAGMAP module was used to perform the levelling following a Fraser Filter technique.

Discussion:

Focused exploration on four under-explored areas returned significant soil anomalism highlighted by distinct and sizeable Ag ± Au-As-Pb-Zn soil anomalies with coincident EM and/or magnetic high features; in close proximity to contacts between fertile geological units know to host mineralization on the Charlotte property, on the neighboring Klaza property, and on the Dawson Trend.

Mapping confirmed that a late Cretaceous intrusive centre underlies the Cyprus, Eliza and northwestern portion of the GRW Grid area. Quartz stockwork development within this intrusion is best developed at the Cyprus showing within the DOME 60 and DOME 61 claims. Mapping also showed that a separate late Cretaceous event resulted in emplacement of rhyolitic to dacitic units with quartz ± feldspar porphyries in a fine-grained groundmass. Both assemblages are distinct from mid-Cretaceous equigranular intrusive rocks, most notable in the GRW area. Although the late Cretaceous rocks show strong argillic and local silica and phyllic alteration typical of that associated with porphyry-style systems, the only mineralization noted on surface consists of disseminated pyrite, possibly representing a "pyrite halo" surrounding a porphyry centre. Arsenical or antimony-enriched mineralization has been identified mainly in epithermal mineralization previously exposed by trenching.

The 2023 exploration program was successful in highlighting the prospectivity of 4 under-explored areas on the Charlotte Property, including the new Ed claim area which sites immediately north of the Flex Zone. Additional follow-up work is required to investigate the soil anomalism and coincident geophysical responses. Additional detailed mapping and prospecting will focus on these areas plus the best results from outside the grids, including the Cabin and east of the Ed grid.

Charlotte 2023 Exploration Objectives:

• Discovery of new epithermal vein sets in under-explored areas of the Charlotte property.

• Determine the linkage between epithermal veins and the late Cretaceous intrusive centre in the north part of the property.

• Investigate surface expression of suspected structural controls on soil anomalism.

The main target model was epithermal mineralization similar to the Flex zone, and which commonly occurs in peripheral areas to porphyry systems, although all mineralized settings were considered.

The two-phase work program was conducted over a 30-day period and comprised a 14-day program of detailed geological mapping, prospecting and rock sampling with particular focus on the under-explored central-northern part of the property. This was followed by an 18-day phase of grid soil geochemical sampling across four grids: the Discovery, Eliza West, GRW and Ed F grids. A ground magnetometer - VLF survey was also completed across the four grids. The program was conducted from the Charlotte exploration camp adjacent to the Flex Zone.

The high-priority targets were selected after analysis of an extensive historical dataset within the underexplored regions of the Charlotte property. The Discovery, Eliza West and GRW grids were designed to determine the presence of soil geochemical signatures representing epithermal mineralization related to mineralized porphyry systems. The Ed F grid was designed to complete detailed soil geochemical surveying across the Ed F claim, staked and incorporated into the Charlotte property in February, 2023. Geological mapping and rock sampling were designed to confirm that the property covers portions of a porphyry-style mineralized system covering the highly prospective Mt. Nansen area. Mapping initially focused on the four gridded areas but was expanded to cover the entire property.

Rock sampling comprised mainly grab and composite grab sampling along rubble-crop exposures, roadcuts and trenches. A total of 79 samples, excluding quality control (QC) samples, were taken.

Grid soil geochemical sampling, targeting the "B" soil horizon, was completed across the four grids, utilizing a 50-metre line spacing and 20-metre station spacing. Soil samples were obtained using hand augers or hand trowels. The total number of soil samples taken, excluding duplicates and QC samples, was 1,693. Sampling was done on a line-by-line basis, with unsampled locations due to permafrost or significantly disturbed sites from historical trenching.

All samples were shipped to MSA Labs of Langley, B.C. for which all results have now been received.

* The reader is cautioned that grab samples by nature are selective and therefore may not be representative of the mineralization being sampled.

Quality Assurance and Quality Control

All sample assay results have been monitored through the Company's quality assurance / quality control (QA/QC) program (certified reference standards, duplicates and blanks; n=172 samples) and there were no significant failures noted. In addition, MSA Labs also has a rigorous internal QA/QC program including the insertion of duplicates, certified reference standards and blanks into the sample stream.

Field protocols included:

• systematic placement of one type of QC material at every tenth sample. Alternating duplicate, "standard" and "blank" samples were emplaced throughout the sample stream, resulting in regular insertion of each type per 30 samples. The "standards" comprised OREAS 46 (Certified value of 1.18 ppb Au - Aqua Regia digestion)), and OREAS 47 (Certified Value of 32.4 ppb Au - Aqua Regia digestion)). The blank samples used early in the survey were CDN-BL-07 (Certified Value of < 0.01 g/t Au) and CDN-BL-10 (same certified value).

UTM coordinates of sample locations were recorded using a handheld Garmin GPS device. Soil samples were recorded in the field either by hand-written entries in field books or by entries into CT3 or CT5 hand-held navigation and recording devices. Descriptions were transferred to Excel spreadsheet format and paired with analytical results when available.

Soil samples were obtained using hand augers or hand trowels, with each sample placed into paper "Kraft bags" together with a sample tag having a unique Sample ID number. The sample numbers were written on both sides of the Kraft bag and sealed with a cable tie. Two photographs were taken per site; one of the sampled material and one of the immediate site. Samples were dried as much as possible, then placed in rice bags with the sample sequences written on the bag. Each bag was sealed with a security tag having a unique ID number. A Sample Submission Form (SSF) was placed in either the first bag or last bag of the sample shipment.

After drying, samples were truck-hauled by Aurora personnel from camp to their secure Whitehorse facility, before being shipped by bonded transport to MSA Labs of Langley, B.C. MSA Labs has both ISO 17025 (Testing and Calibration Laboratories) and ISO 9001 (Quality Management Systems) accreditation.

Soil sample preparation procedures comprised drying followed by screening to 80 mesh (177 µm) and discarding of the plus (>80 mesh) fraction (code PRP-757). Soil samples underwent a dry crush whereby 70% of the sample passed through a 2 mm mesh, followed by splitting of a 250 g subsample which was then pulverized so that 85% passed through a 75 µm screen (code PRP-910). The samples then underwent "true aqua regia" digestion and multi-element ICP-MS and ICP-ES analysis of a 20g sample (IMS-128; or IMS-127 for a several samples using 0.5g sample). A total of 39 elements were analyzed: including Ag, As, Au, Cd, Cu, Hg, Mo, Pb, Sb, and Zn. Overlimits for gold were to undergo gravimetric analysis of a 30-gram sample, providing a detection range of 0.9 to 10,000 ppm (code FAS-415). Overlimits for silver were to undergo gravimetric analysis of a 30-gram sample, providing a detection range of 50 to 10,000 ppm (code FAS-418). Overlimits for Pb or Zn were to undergo ICP-ES analysis (code ICA-6xx), providing a detection range of 0.001-5% Pb and 0.001-2% Zn.

Instructions were made to return pulps to Aurora and to dispose of rejects after 90 days.

About the Charlotte Property

The road-accessible Charlotte property is located in the highly prospective Dawson Range portion of the Tintina Gold Belt, and 60 km west of Carmacks, Yukon Territory, Canada. The region is characterized by gold-silver-zinc-lead veins and breccia, as well as copper-gold porphyry mineralization. The Charlotte property consists of 140 full or fractional quartz mineral claims and mineral leases that cover an area totalling 2,357.1 hectares (approximately 23 km²). All but two of the mineral claims are contiguous. The Charlotte property is host to several mineralized zones of interest, including the Huestis, Webber, and Flex precious metal vein systems in the southern part of the property and under-explored porphyry copper mineralization in the northwest. Taurus Gold Corp. has a 51ppm ownership and an option to earn 100ppm interest in the Charlotte property. The Charlotte property is located in the traditional territory of the Little Salmon Carmacks First Nation.

Other active mineral projects in the Dawson Range area include Rockhaven Resources' Klaza Project, Triumph Gold's Freegold project and Granite Creek Copper's Carmacks project. The Yukon Resource Gateway Program is supporting the building of new roads and facilitating improved access to several mining developments within the Dawson Range area, including Western Copper and Gold's Casino project.

Flex Zone - Charlotte Property

The Flex Zone on the Charlotte property is located on an all-season access road. Exposed mineralization on surface was completely stripped during the 1990s and reveals a mineralized zone approximately 80 m wide by 350 metres long. The Flex Zone is delineated over a northwest-trending strike length of 550 m and is defined by a network of stacked epithermal gold-silver-zinc-lead quartz veins, which range from 5 cm to 1.1 m in apparent thickness, within precious metal enriched wallrock. The strongest mineralization occurs where northwest trending Flex Zone veins are offset by east to northeast trending faults. These highly mineralized areas tend to repeat at regular intervals and retain their grade, tenor and widths at depth. Mineralization consists of varying amounts of pyrite, arsenopyrite, sphalerite, galena, chalcopyrite, stibnite, boulangerite and sulphosalts, including pyrargyrite. Wallrock silicification at the Flex vein system extends precious metal grade widths up to 7 m.

A total of 123 historical drill holes currently delineate the Flex Zone, with a total of 7,007 downhole gold assays compiled in the database with an average downhole length of 1.2 m. Taurus initiated their maiden exploration drill program in September, 2020, to further evaluate the Flex zone. The program consisted of 2,347.1 metres of diamond drilling (HQ size) in eleven holes on the Flex gold-silver vein system, with hole depths ranging from 161.5 metres to 274.4 metres (see November 12, 2020 news release). Additional information can be found on the Company's website at: https://taurusgold.ca/.

The technical information in this news release has been approved by Ken MacDonald, P. Geo. an independent "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

Frank Lagiglia
President and Chief Executive Officer
frankl@taurusgold.ca
Taurus Gold Corp. Phone: 587-608-5035 #239 9768-170th Street, Edmonton, AB T5T 5L4

Forward-Looking Information:
This news release contains "forward-looking information" or "forward-looking statements" within the meaning of Canadian securities legislation. All statements included herein are forward-looking, other than statements of historical fact. Generally, the forward-looking information and forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "is expected", or "will continue", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information and forward-looking statements, while based on management's best estimates and assumptions, are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of Taurus Gold to be materially different from those expressed or implied by such forward-looking information or forward-looking statements. Although Taurus Gold has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information or statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information or statements. The forward-looking statements and forward-looking information are made as of the date hereof and Taurus Gold disclaims, except as required by applicable securities laws, any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements or forward-looking information contained herein to reflect future results. Accordingly, readers should not place undue reliance on forward-looking statements and information.

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