Idaho Champion Completes Fall Exploration Program on its Twin Peaks Cobalt Project

Copper Cobalt Prospect Vein Discovered

Toronto, Ontario--(Newsfile Corp. - November 22, 2022) - Idaho Champion (CSE: ITKO) (OTCQB: GLDRF) (FSE: 1QB1) ("Idaho Champion" or the "Company") is pleased to announce that it has completed a fall exploration program on the Company's Twin Peaks cobalt project located in the heart of the Idaho Cobalt Belt.

Idaho Champion's technical team was mobilized on October 20, 2022 to Salmon, Idaho to undertake site reconnaissance, geologic mapping, and intital ridge and spur soil sampling at the Company's beneficially located Twin Peaks and Victory projects (the "Projects") (See Figure 1).

During the program, the technical team embarked on field days at Twin Peaks where site reconnaissance and rock sampling was carried out. The team collected a total of 19 samples and have since submitted those samples to the assay lab. Images 1 and 2 show some of the existing infrastructure from historic mining at Twin Peaks. Idaho Champion's technical team also identified a prospective copper-cobalt vein at a new priority target area near the southwest end of the property(see Image 3). Due to weather related complications, Idaho Champion was unable to access the Victory Project and will initiate the phase 1 program there in the spring of 2023.

Jonathan Buick, Idaho Champion's CEO, commented: "Our technical team worked expeditiously to complete a fall program that will lay the groundwork for phase 2 work at Twin Peaks in Q1 2023. The newly discovered copper-cobalt vein occurs in siltstones, and the team was able to track it across a ravine with some fault offset. The structure appears to continue to the northwest based on float uncovered along strike. While we await sampling results, our team will digest the information collected and develop a plan to test the extent of the copper-cobalt system."

The Twin Peaks Project comprises 2,761 hectares (6,820 acres) and includes the historic Twin Peaks Copper Mine. It is located approximately 3 kilometres from Electra Battery Metals' advanced exploration stage Iron Creek Project, which boasts an indicated resource of 2.2 Mt* grading 0.26% cobalt (Co) and 0.65% copper (Cu) and 2.7 Mt* grading 0.22% Co and 0.68% Cu in the inferred category.

The Victory Project is comprised of 1,627.5 hectares (4,020 acres) and is 6 kilometres south of the historic Blackbird Mine and Jervois Mining's Idaho Cobalt Operations*, which was officially commissioned on October 7, 2022 as North America's only primary cobalt mine.

* The Projects are at an early stage of exploration, and the Company cautions that the qualified persons who have reviewed and approved this news release have not verified scientific or technical information produced by third parties.

Further, proximity to projects containing cobalt-copper resources offers no assurance that the rock types or resources reported by Electra, Jervois and others will extend onto the Projects; nor should such proximity be assumed to imply similarity to mineralization and results reported by other companies in the district.

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Figure 1: Idaho Cobalt Belt Location Map
 
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Image 1: Twin Peaks historic mine building
 
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  Image 2: Twin Peaks ore car tramway
 
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 Image 3: Cu/Co prospect vein at Victory Project
 
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Qualified Person

Patrick Highsmith, Certified Professional Geologist (AIPG CPG # 11702) and director of the Company, is a qualified person as defined by National Instrument 43-101. Mr. Highsmith has helped prepare, reviewed, and approved the technical information in this news release.

About Idaho Champion Gold Mines Inc.

Idaho Champion is a discovery-focused exploration company that is committed to advancing its highly prospective mineral properties located in Idaho, United States and shortly, Quebec, Canada. The Company's shares trade on the CSE under the trading symbol "ITKO", on the OTCQB under the trading symbol "GLDRF", and on the Frankfurt Stock Exchange under the symbol "1QB1". Idaho Champion is vested in Idaho with four cobalt properties in Lemhi County in the Idaho Cobalt Belt. In addition, the Company has been advancing the Baner gold project in Idaho County and the Champagne polymetallic project located in Butte County near Arco.

Idaho Champion strives to be a responsible environmental steward, stakeholder and contributing citizen to the local communities where it operates. Idaho Champion takes its social license seriously, employing local community members and service providers at its operations whenever possible. 

 

ON BEHALF OF THE BOARD,

"Jonathan Buick"
Jonathan Buick, President and CEO

For further information, please visit the Company's SEDAR profile at www.sedar.com or the Company's corporate website at www.idahochamp.com.

For further information, please contact:
Nicholas Konkin, Marketing and Communications
Phone: (416) 567- 9087
Email: nkonkin@idahochamp.com

THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES IN ANY JURISDICTION, NOR SHALL THERE BE ANY OFFER, SALE, OR SOLICITATION OF SECURITIES IN ANY STATE IN THE UNITED STATES IN WHICH SUCH OFFER, SALE, OR SOLICITATION WOULD BE UNLAWFUL.

Cautionary Statements
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company, including suggested strike extension. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/145215

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