Tempus Completes Sampling Program at Elizabeth Gold Project

Perth, Australia--(Newsfile Corp. - July 28, 2023) - Tempus Resources Ltd (ASX: TMR) (TSXV: TMRR) (OTC Pink: TMRFF) ("Tempus" or "the Company") is pleased to announce the completion of the first phase rock sampling program at the Elizabeth Gold Project located in Southern British Columbia.

HIGHLIGHTS

• Tempus has completed the first phase of a property wide rock sampling program at Elizabeth Gold Project focused on expanding the mineralisation footprint of project beyond the current drilling zone.

  • Three key target areas sampled over approximately 20 km² area

  • 90 rock samples collected, assays pending

  • Follow up on geophysical targets identified from the 2021 airborne magnetic survey as well as 2019 soil study area at Elizabeth East

  • Focus on the identification of additional drill targets outside the current Elizabeth drilling area

• Updated JORC/NI43-101 Resource

  • Work is continuing on the completion on the updated JORC/NI43-101 Resource estimate for the Elizabeth and Blackdome Gold Projects

  • Complexity of the mineralisation associated with the No. 9 and Blue Veins requires additional study work to complete the resource estimate

  • SRK Canada have been appointed to complete a structural mapping study at Elizabeth and Blackdome scheduled for early August

  • Following completion of the structural mapping study, SRK will complete the updated JORC/NI43-101 resource estimate for both Elizabeth and Blackdome Projects

• Elizabeth Drill Program

  • The planned 4,000 metre drill program at Elizabeth has been deferred until after the resource estimates have been completed

  • The results of the resource modelling and estimates will be key inputs into the final field drilling plan

Tempus Resources, President and CEO, Jason Bahnsen, commented, "We have taken 90 rock samples in three key target areas within an overall area of 20 km². This sampling program has the potential to significantly increase the overall footprint of the gold mineralisation at the Elizabeth Project and follows up on the 2021 airborne geophysics survey targets that identified magnetic lows associated with intrusive bodies prospective to host gold mineralisation."

Elizabeth Rock Sampling Program

The Elizabeth Gold Project has an overall area of approximately 11,500 Hectares. The recent drilling program at Elizabeth has focused on a small area of intrusive hosted quartz veins with an area of approximately 110 hectares.

The Blue Creek Porphyry, which hosts the Elizabeth gold-quartz veins, is thought to have intruded the Shulaps Ultramafic Complex during the late-Cretaceous and belonging to the late stages of the Coast Plutonic Complex. This timing makes it close in proximity to the timing of Bralorne mineralization (approximately 30km away) and being associated with the same, regional, transpressional environment. Bralorne is a well explored mesothermal vein system, which was mined to a depth of approximately 2,000 metres and produced more than 4 million ounces of gold over a period of 70 years. Historically, the boundaries of the Blue Creek Porphyry have been poorly defined based on mapping of sparse outcrops and therefore not well understood.

In 2021, Tempus completed a 735 line-km airborne magnetics and radiometric survey over the entire Elizabeth Project licence area, (see Tempus news release dated 13 August 2021 for full details). The geophysical surveys identified the Blue Creek Porphyry, which is the known host of the high-grade Elizabeth gold-quartz veins, as a relative magnetic low anomaly within the Shulaps Ultramafic Complex. From this correlation of geology and geophysics it was determined that the Blue Creek Porphyry, originally explored and mapped to approximately 1.1km2 in size, is likely much larger. The airborne magnetic survey and MVI 3D modelling interpret the Blue Creek Porphyry to be at least four-times the size at approximately 4.5km².

The 2023 rock sampling and geological mapping program at Elizabeth focused on "ground truthing" the identified geophysical anomalies across three key target areas. In total, 90 rock samples have been collected across the target areas (see Figure 1). All samples have been dispatched to SGS Laboratories in Vancouver for assay.

 
Figure 1 - Elizabeth Rock Sample Locations
 
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The sampling and mapping features of each of the key target areas is outlined below.

Elizabeth North West

Fourteen rock samples taken from an area to the north west of the Elizabeth Main zone. The samples were collected within a protruding erosion-resistant outcrop which is the upper projection of Listwanite vein. Observed within the outcrop are a multiple and intensed anastomosing quartz, calcite and barite veining, within reddish, silicified listwanitic ultramafic where fuchsite was noted. Vuggy quartz was also noted.

Three historical drill holes (E04-01, E04-03 and E04-05) indicated presence of a gold-mineralized vein structure on this area, now being called as Listwanite Vein. Hole E04-01 intersected 15.5 m wide zone @ 1.01 g/t over 15.5 m, including 2.09 g/t over 1.5 m.. This mineralized intersect is hosted by diorite, within contact zone with a listwanitic ultramafic rock.

Elizabeth East

The 2019 soil geochemistry survey identified a 400m x 150m east-west trending gold in soil anomaly in an area with no previously known mineral showings, located approximately 2.5 km east of the Elizabeth Main zone, including multiple samples > 0.1 g/t gold to a maximum of 0.66 g/t gold.

The strongly anomalous multi-element results are identified as residual soils, implying that the anomaly is true and locally derived.

The 2023 rock sampling and mapping program identified dioritic intrusive "windows" within the ultramafic-dominated Elizabeth East anomaly area. This provides further support to the overall size of the Blue Creek Porphyry intrusion that hosts the gold veins at Elizabeth being much larger in size.

Tempus took 55 rock samples across the Elizabeth East anomaly area. Samples were also taken to the north and south along trend of the anomaly area. Anastomosing, vuggy quartz-calcite-barite veining but with poor sulphide content were, noted within highly silicified ultramafic rocks, near contact with dioritic intrusive contacts, similar to that seen at North West area (Listwanite Vein area). Vuggy quartz is not a normal feature displayed by mesothermal veins. This may indicated presence of overprinted epithermal and younger; or other hydrothermal system. See Figure 2 photos below.

 
Figure 2 - Elizabeth East Outcrop Showing Vuggy Quartz Veining and Ultramafic / Intrusive Contact
 
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Elizabeth South

This area was visited by the team to ground truth a mag low anomaly which may indicate presence of dioritic intrusive rocks. The area is generally dominated by ultramafic outcrops, with few minor dioritic dikes and small outcrops. A total of four samples were collected from this area. Two samples were quartz floats. The other two samples were from a bleached diorite outcrop and fault zone within diorite outcrop, respectively.

JORC/NI43-101 Resource Estimate

Work on the completion of the updated JORC/NI43-101 Resource estimate for he Elizabeth and Blackdome Projects. The complexity of the mineralisation associated with the No. 9 and Blue Veins requires additional structural modeling work prior to completion of the resource estimate (see Figure 3).

 
Figure 3 - Elizabeth Geology - Vein Plan View
 
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SRK Consulting (Canada) Inc. ("SRK") have been appointed to complete a structural mapping study at Elizabeth and Blackdome. Siote visits required for the structural mapping study will be completed in early August. The results of the structure mapping will be utilised in the resource estimate.

Following completion of the structural mapping study, SRK will complete the updated JORC/NI43-101 resource estimate for both Elizabeth and Blackdome Projects. The additional modelling and mapping work has impacted the timing of the resource estimate completion, now estimated for August/September.

Elizabeth Drill Program

The planned 4,000 metre drill program at Elizabeth has been deferred until after the resource estimates have been completed.

The results of the resource modelling and estimates will be key inputs into finalising the field drilling plan.

Competent Persons Statement

Information in this report relating to Exploration Results is based on information reviewed by Mr. Sonny Bernales, who is a Member of the Engineers and Geoscientists British Columbia (EGBC), which is a recognised Professional Organisation (RPO), and an employee of Tempus Resources. Mr. Bernales has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves, and as a Qualified Person for the purposes of NI43-101. Mr. Bernales consents to the inclusion of the data in the form and context in which it appears.

This announcement has been authorised by the Board of Directors of Tempus Resources Limited.

For further information:

TEMPUS RESOURCES LTD

Melanie Ross - Director/Company Secretary Phone: +61 8 6188 8181

About Tempus Resources Ltd

Tempus Resources Ltd ("Tempus") is a growth orientated gold exploration company listed on ASX ("TMR") and TSX.V ("TMRR") and OTC Pink ("TMRFF") stock exchanges. Tempus is actively exploring projects located in Canada and Ecuador. The flagship project for Tempus is the Blackdome-Elizabeth Project, a high-grade gold past producing project located in Southern British Columbia. Tempus is currently midway through a drill program at Blackdome-Elizabeth that will form the basis of an updated NI43-101/JORC resource estimate. The second key group of projects for Tempus are the Rio Zarza and Valle del Tigre projects located in south east Ecuador. The Rio Zarza project is located adjacent to Lundin Gold's Fruta del Norte project. The Valle del Tigre project is currently subject to a sampling program to develop anomalies identified through geophysical work.

Forward-Looking Information and Statements

This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Tempus's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein may include, but are not limited to, the ability of Tempus to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Tempus to control or predict, that may cause Tempus' actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein and the other risks and uncertainties disclosed under the heading "Risk and Uncertainties" in the Company's Management's Discussion & Analysis for the quarter and nine months ended March 31, 2023 dated May 12, 2023 filed on SEDAR. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Tempus believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements.

The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and Tempus does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to Tempus or persons acting on its behalf are expressly qualified in its entirety by this notice.

Neither the ASX Exchange, the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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