Vancouver, BC – August 17, 2022 – Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) (“Getchell” or the “Company”) is pleased to provide the results for drill hole FCG22-18 that targeted the high-grade North Fork zone at the Fondaway Canyon gold project in Nevada.

Key Highlights

• Extensive gold mineralized intervals encountered;
• Continues to expand North Fork zone with further discoveries;
• Includes 5 g/t Au over 43.4 m, 2.0 g/t Au over 29.6 m, 4.8 g/t Au over 12.1 m, 1.4 g/t Au over 27.7 m, and2.0 g/t Au over 22.1 m;
• Lower gold interval is outside of previous drilling and is 75 m away from nearest drill hole;
• Results from FCG22-18 will be incorporated into the forthcoming Resources estimate;
• North Fork gold zone remains open in most directions;
• Drilling is underway to step out and delineate the rapidly expanding North Fork zone; and
• With the completion of the drill program at the Star project, a second drill rig has arrived at Fondaway Canyon and commenced drilling of the Pediment target zone.

“FCG22-18 marks the easternmost drill hole targeting the North Fork gold zone and encountered one of the broader, cumulative intervals of gold, drilled to date at Fondaway Canyon.” states Mike Sieb, President, Getchell Gold Corp. “As we step out, we continue to intersect significant gold mineralization reflective of the impressive size and potential of the mineralizing system.”

Drill Hole FCG21-18

Drill hole FCG22-18, the second drill hole of the 2022 drill program at Fondaway Canyon (the “Project”), was designed to follow up on the high-grade gold discovered by FCG21-16, the last drill hole of the 2021 drill program.

FCG21-16 encountered a high-grade gold interval grading 6.3 g/t Au over 50.7 m (117.5-168.2 m drill depth) that includes 10.4 g/t Au over 25.0 m (139.9-164.9 m) (Company news release dated February 15, 2022).  This latter interval contained 12 samples reporting >10 g/t Au revealing strong internal high-grade gold consistency.

FCG22-18 was collared on the canyon floor, at the junction of Fondaway Canyon and the North Fork branch, on the same drill pad as hole FCG21-16 (Figures 1 and 2).  FCG22-18 targeted the North Fork mineralized zone as a 30m step out to the northeast from the high-grade intercept encountered in FCG21-16.

FCG22-18 intersected multiple significant intervals of gold mineralization, encountered from 180.6 to 400 metres down hole (Figure 3).  The broader intervals graded 2.5 g/t Au over 43.4 m, 2.0 g/t Au over 29.6 m, 4.8 g/t Au over 12.1 m,1.4 g/t Au over 27.7 m, and 2.0 g/t Au over 22.1 m (detailed in Table 1).  

The latter gold intervals, extending over a 72.6 m down hole distance, were encountered in an area outside and to the east of previous drilling, and 75 meters distant from the nearest drill hole.

The gold mineralized intervals encountered in hole FCG22-18 will be incorporated into the forthcoming Mineral Resources estimate scheduled for completion this Fall.

The North Fork gold zone remains open in most directions and follow up drilling is underway to continue to step out, further delineate, and model the rapidly expanding North Fork zone.

Table 1: Drill Hole FCG22-17 Notable Gold Intervals

Fondaway Canyon Drill Program Update

Six holes have been completed (FCG22-17 to 22) to date, totalling 2,328m, during the 2022 drill program at Fondaway Canyon.

Holes FCG22-17, 18, 19 and 22, collared on the same pad as FCG21-16, were respectively designed to test the immediate western, northeastern, southwestern, and eastern extent of the mineralization encountered in hole FCG21-16.

FC22-17 also encountered multiple intervals of gold mineralization spanning 120 metres downhole starting at a near surface down-hole depth of 66.1 m, that included high-grade gold mineralization of 17.7 g/t Au over 9.9 m within a broader zone grading 5.4 g/t Au over 51.9 m (as reported in Company news release dated July 26, 2022).  This interval was followed by two intervals grading 2.0 g/t Au over 22.9 m and 1.9 g/t Au over 15.9 m.

FCG22-20, a vertical drill hole, was designed to test the mineralization directly below the Colorado Pit in an area relatively absent of drilling.

FCG22-21, stationed midway up the north slope of Fondaway Canyon, was designed to crosscut the Colorado SW zone of mineralization to assist with modelling and to test the extents of the mineralization to the northwest.  Additional holes are planned from this setup but due to the need to expand the drill pad and sump to accommodate additional drilling, the drill was moved back to the canyon floor in the interim to continue to expand on the North Fork gold zone discoveries.

Assays are pending for holes FCG22-19 through FCG22-22.

FCG22-23, collared on the same pad as FCG22-16 at the junction of Fondaway Canyon and the North Fork branch, is in progress and is designed to follow-up to the northwest on the recent gold intervals discovered in FCG22-18, as reported in this news release.

Pediment Target Area and Second Drill Rig

With the completion of the initial drill program at the Star project, a second drill rig has arrived at Fondaway Canyon, and has commenced drilling the Pediment target zone by hole FCG22-24.

The Pediment Target is the westernmost known gold mineralized occurrence along the 3.5 km long E-W trending Fondaway Canyon gold mineralization corridor.  The area is completely blanketed by a broad alluvium cover which is typical of the range and basin geomorphology for the area.

Two vertical drill holes completed in 2002, 02FC-10 and 02FC-11, were collared 185 metres apart and designed to test potential gold mineralization beneath the sediment cover on trend with the Fondaway Canyon E-W gold corridor.  Both holes successfully intersected thick lower grade gold intersections with hole 02FC-10 intersecting27.4 m grading 0.82 g/t Au and 02FC-11 intersecting 36.6 m grading 0.52 g/t Au.  

One hole drilled by the Company in 2020, FCG20-01, was lost within a fault zone prior to reaching the target depth (Company news release dated January 27, 2021).

Upon completion of hole FCG22-24, the drill rig is planned to join the first rig in Fondaway Canyon’s Central Area, a nexus for the gold mineralization and host to the Colorado SW and North Fork gold zones, the primary targets for this year’s drill program.

Star Cu-Au-Ag Project Drill Program Update

Two drill holes totalling 976 metres were completed to target depth at Star.

Drill hole SG22-01, the first drill hole at the Star project, targeted a large multi geophysical survey line anomaly underlying the high-grade copper, gold, and silver mineralization at surface at the Star South occurrence.  SG22-02, situated four kilometres to the north targeted a large geophysical anomaly underlying the past producing Star Point copper mine.

Both holes encountered indications of epithermal fluids and alteration associated with a porphyry style system and extensive structural zones marking high fluid transmissivity.  Broad zones of graphitic material occurring as bands and fracture fill were encountered and would provide geophysical responses similar to the ones targeted.  Copper mineralization was not observed in the drill core.

Sample results are pending and will be utilized for the interpretation and potential vectoring within the identified system to the source of the mineralization observed at surface, in preparation for future drill programs.

Scott Frostad, P.Geo., is the Qualified Person (as defined in NI 43-101) who reviewed and approved the content and scientific and technical information in the news release.

The 2022 drill core is being processed using the same methods as the 2020 and 2021 drill programs.  The core is cut at Bureau Veritas Laboratories’ (“BVL”) facilities in Sparks, Nevada, with the samples analyzed for gold and multi-element analysis in BVL’s Sparks, Nevada and Vancouver, BC laboratories respectively.  Gold values are produced by fire assay with an Atomic Absorption finish on a 30-gram sample (BV code FA430) with over limits re-analyzed using method FA530 (30g Fire Assay with gravimetric finish).  The multi-element analyses are performed by ICP-MS following aqua regia digestion on a 30g sample (BV code AQ250).  Quality control measures in the field include the systematic insertion of standards and blanks.Highlighted drill intervals are based on a 0.25 g/t Au cut-off, minimum interval lengths of 3.3 metres (10 feet), and a maximum of 3.3 metres of internal dilution, with no top cut applied.  All intervals are reported as downhole drill lengths and additional work is required to determine the true width.

About Getchell Gold Corp.

The Company is a Nevada focused gold and copper exploration company trading on the CSE: GTCH and OTCQB: GGLDF.   Getchell Gold is primarily directing its efforts on its most advanced stage asset, Fondaway Canyon, a past gold producer with a significant in-the-ground historic resource estimate and on the Star project, a past high-grade copper, gold, and silver small-scale producer.  Complementing Getchell’s asset portfolio is Dixie Comstock, a past gold producer with a historic resource and one earlier stage exploration project, Hot Springs Peak (Au).  Getchell has the option to acquire 100% of the Fondaway Canyon and Dixie Comstock properties, Churchill County, Nevada.

For further information please visit the Company’s website at www.getchellgold.com or contact the Company by e-mail at info@getchellgold.com or by phone at +1 647 249-4798.

Mr.  William Wagener, Chairman & CEO
Getchell Gold Corp.

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

Certain information contained herein constitutes “forward-looking information” under Canadian securities legislation.  Forward-looking information includes, but is not limited to, statements with respect to the use of proceeds.  Generally, forward-looking information can be identified by the use of forward-looking terminology such as “will” or variations of such words and phrases or statements that certain actions, events or results “will” occur.  Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including: use of proceeds from the financing Although management of Getchell have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.  There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.  Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information.  The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.