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VANCOUVER, British Columbia, Sept. 03, 2024 (GLOBE NEWSWIRE) — Yukon Metals Corp. (CSE: YMC, FSE: E770), the “Company” or “Yukon Metals”, is pleased to announce an exploration update on its 2,285 hectare Birch project, located approximately 65 km northeast of Burwash Landing.

Fieldwork commenced at the Birch property on August 3, 2024 (Figure 1), including a soil sampling and prospecting program (Figure 2 to 4). Assays from 341 of 530 samples on a 50m x 100m grid over the northern anomaly were received and show encouraging Au and Cu results up to 0.988 g/t Au and 2,310 ppm Cu. The anomalous zone trends roughly east-west and extends over 1,400 meters. A rock-chip sample over this zone contains 14.1 g/t gold and 4260 ppm copper within pyrite-chalcopyrite rich skarn (Figure 5). Field mapping indicates the geology of the project area is comprised of schists and marble units, moderately to strongly oxidised felsic intrusive, and patchy oxidised porphyritic rhyolite dykes.

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Rory Quinn, President & CEO stated, “We are excited about these first pass results that have clearly identified a copper & gold mineralized system that has significant scale as demonstrated by the soil anomaly being over 1,400 meters long. The exceptionally high gold grades of up to 14.1 g/t from the surface rock chip program taken in the same area also point to the potential of the system to host economic grades. The metal association and the geology of the prospect area all point to the prospectivity for a gold-rich copper porphyry system that is largely preserved. The project area also has relatively benign topography and is located 65 kilometers from the Alaska highway.”

Yukon Metals will follow up on the soils results by using a combination of electrical resistivity tomography and induced polarization geophysics to delineate bedrock structure.

About the Birch Project

Yukon Metals owns 100% of the Birch project located 65km northeast of the community of Burwash Landing, and accessible via helicopter. The Birch project lies predominantly within the Finlayson assemblage of the Yukon-Tanana Terrane, consisting of variably carbonaceous schist and quartzite, marble, garnet amphibolite and rare metaplutonic rocks.

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The Yukon-Tanana Terrane structurally overlies the Ruby Range Batholith which is regionally mapped in the northeastern portion of the property occurring as Ruby Range quartz-feldspar porphyry and Rhyolite Creek porphyry and intermediate and felsic volcanic rock (Israel et. Al., 2011).

Cu-Zn and Mo mineralization was first identified in the area in the early 1970s as part of a small exploration campaign which uncovered several skarn horizons in the northern project area, as well as molybdenite in quartz veins and stringers in granodiorite float on the southeastern side of the property (MINFILE 115G 077). Gold was not assayed for until interest renewed in the early 2010s with soil and mapping exploration work over the area uncovering several high soil anomalies ranging from 0.02-15g/t Au.

The Birch claims were staked over copper skarn and soil gold anomalies in 2022 by Lapie Mining Inc., and subsequently acquired by Yukon Metals in 2024 as part of the Berdahl land package.

Vision Quest, a Yukon First Nations-owned and operated exploration company working closely with Yukon Metals, conducted the sampling program using field staff whose traditional territory includes the Birch property.

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Sample Methodology

Rock and soil samples were sent to ALS Minerals for analysis with sample preparation in Whitehorse, Yukon and analysis in North Vancouver, British Columbia.

Rock samples were prepared by crush to 70 % passing 2mm, 250g split pulverised better than 85% passing 75 microns (Prep-31A). Pulp samples were analysed for 34 elements by four acid digestion and ICP-AES (ME-ICP61). All samples were analyzed for gold by fire assay and AAS with a 50g nominal sample weight (Au-AA24). Samples over 10g/t Au were assayed by 50g sample fire assay with gravimetric finish (Au-GRA22).

Soil samples were collected with a battery-powered permafrost soil drill collecting high-quality samples below boulders and frozen ground to depths of 1m. This technique was designed specifically for Yukon geochemical exploration to better delineate mineralization along steep, rocky and permanently frozen north-facing slopes unsuitable for traditional soil sampling techniques. Samples were dried and sieved to 180 um (Prep-41A) and analysed for 51 elements by aqua regia digestion and ICP-MS and ICP-AES (AuME-TL44).

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Figure 1- Birch project location map.

Figure 2- Anomalous gold (>0.08 ppm) and copper (>200 ppm) contours over the northern Birch soil grid.

Figure 3- Gold-in-soils at northern Birch 50m x 100m grid.

Figure 4- Copper-in-soils at northern Birch 50m x 100m grid.

Figure 5- Rock Sample K654501 of mineralized skarn horizon grading 14.1 g/t Au and 4,260 ppm Cu.

Qualified Person

The technical content of this news release has been reviewed and approved by Helena Kuikka, P.Geo., as the Qualified Person (as defined by National Instrument 43-101).

About Yukon Metals Corp.

Yukon Metals is well financed and represents a property portfolio built on
over 30 years of prospecting by the Berdahl family, the prospecting team behind Snowline Gold’s portfolio of primary gold assets. The Yukon Metals portfolio consists primarily of copper-gold and silver-lead-zinc assets, with a substantial gold and silver component. The Company is led by an experienced Board of Directors and Management Team across technical and finance disciplines.

Yukon Metals is focused on fostering sustainable growth and prosperity within Yukon’s local communities, while simultaneously enhancing stakeholder value. Our strategy centers around inclusivity and shared prosperity, offering both community members and investors the chance to contribute to, and benefit from, our ventures.

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The Yukon

The Yukon ranks 10^th most prospective for mineral potential across global jurisdictions according to the Fraser Institute’s 2023 Survey of Mining Companies, and is host to a highly experienced and conscientious local workforce, fostered by a long culture of exploration coupled with deep respect for the land. Recent major discoveries with local roots such as Snowline Gold’s Rogue Project – Valley Discovery, demonstrate the Yukon’s potential to generate fresh district-scale mining opportunities.

YUKON METALS CORP.

“Rory Quinn”

Rory Quinn, President & CEO
Email: roryquinn@yukonmetals.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This news release contains certain forward-looking information, including information about the incremental release from escrow of the Consideration Shares, the resumption of trading of the Common Shares and the Company’s future plans and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify the forward-looking information. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

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Forward-looking information involves significant risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from those discussed or implied in the forward-looking information. Such factors include, among other things: risks and uncertainties relating to the incremental release from escrow of the Consideration Shares; the resumption of trading of the Common Shares; and other risks and uncertainties. See the section entitled “Risk Factors” in the Company’s listing statement dated May 30, 2024, available under the Company’s profile on SEDAR+ at www.sedarplus.ca. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking information. Although the forward-looking information contained in this news release is based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with the forward-looking information. The forward-looking information is made as of the date of this news release, and the Company assumes no obligation to update or revise the information to reflect new events or circumstances, except as required by law.

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References

Israel, S., Murphy, D., Bennett, V., Mortensen, J. and Crowley, J., 2011. New insights into the geology
and mineral potential of the Coast Belt in southwestern Yukon. In: Yukon Exploration and Geology
2010, K.E. MacFarlane, L.H. Weston and C. Relf (eds.), Yukon Geological Survey, p. 101-123.

Photos accompanying this announcement are available at:
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