Dryden Gold to Relog and Resample Historic High-Grade Drill Core at Gold Rock

Vancouver, British Columbia--(Newsfile Corp. - May 9, 2024) - Dryden Gold Corp. (TSXV: DRY) (OTC Pink: DRYGF) ("Dryden Gold" or the "Company") is pleased to announce its plans for the 2024 spring and summer work program. The program will consist of a focused relogging and re-assaying of historic core and from the known high-grade zones in the Gold Rock Camp. The program will also include systematic field exploration at the newly acquired Cross River property based on geologic and geophysical interpretation. The primary focus of the relogging program is on the Big Master gold system but will include other strategic areas particularly emphasizing the known high-grade zone. Specifically, the program will examine mineralization within the sheared volcanic units comprising the newly identified hanging wall and footwall structures. These structures surround the Big Master 1 ("BM1") and Big Master 2 ("BM2") vein structures (Figure 1). Previous operators selectively sampled based on an interpreted bias that veins were the only host of gold mineralization. Dryden Gold complete sampled the phase 1-4 drill program and has started to define the mineralized hanging wall and footwall zones. The relogging and resampling program's objective is to get a better understanding of the true width and grade of mineralization adjacent to the main BM1 and BM2 vein structures and provide additional insight into the controls on the mineralization.

Hanging Wall and Footwall Intercepts

In the Phase 1 & 2 Dryden Gold drill program, hole KW-23-007 was collared in the historically defined high-grade shoot and returned multiple mineralized intercepts including: 34.00 g/t gold over 0.80 meters from 100 m down hole in the hanging wall of the BM2 and 20.93 g/t gold over 0.69 meters from 144 m down hole including 36.70 g/t gold over 0.39 meters in the footwall of the BM2, confirming the high-grade potential of the hanging wall and footwall on the BM2 gold system. (see press release dated Feb 21, 2024). In Phase 4, hole KW-24-009, a 400-meter step-out from the known high-grade zone, four zones of mineralization in the Big Master gold system were identified where it is interpreted that the mineralized zones area converging. As drilling intersected the BM2 vein structure, which returned 3.17 g/t gold over 4.00 meters including 19.34 g/t gold over 0.65 meters a footwall zone was also defined that returned 1.38 g/t gold over 6.65 meters including 10.50 g/t gold over 0.80 meters. This drill hole also intersected mineralization in a previously defined hanging wall zone and in the BM1 vein structure at depth (see press release dated April 24, 2024). Similar mineralized intercepts were also identified in Phase 3 drilling on the high-grade Elora Vein System.

"We feel there is a vast opportunity to better capture the potential of the entire mineralization footprint in the Big Master gold system with this relogging and resampling program. Through our initial four phases of drilling, it has become clear that the previous operator's selective sampling method potentially under-represented the mineralization throughout the high-grade shoots on the Big Master vein structures. We now understand that hanging wall and footwall zones of mineralization are present in the Big Master and Elora gold systems with some significant grades. Similar to the initial re-logging efforts at Great Bear, we see an opportunity to gain deeper insights into the high-grade mineralization found throughout the Gold Rock Camp," stated Trey Wasser, Dryden Gold's CEO.

Figure 1 - Cross section of holes Dryden Gold holes KW-23-007, -006, -016, -017, -018 (left) and Dryden Gold holes KW-24-009, KW-23-010 and KW-24-014 (right)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9776/208520_b88ee12954134a52_001full.jpg

Relogging and Resampling Program

Dryden Gold is planning a systematic relogging and resampling program focused on the known high-grade zones on the Big Master gold system. The historic drill core was stored on the Gold Rock property and is in good condition for future work. The initial data from these holes has been digitized and included in Dryden's 3D lithology model but during this interpretation coupled with new drill holes completed by Dryden, it became apparent that more work was needed to understand the width of mineralization all along the Manitou-Dinorwic Deformation Zone. Data from the relogging and subsequent assaying will be used to further refine and update the mineralization, lithology and structure model for the region which in turn will be used for future drill targeting. The Company is currently working on securing a new facility will have a large, heated core shack, core cutting room and ample secured storage and is located near Gold Rock. All historic, current and future drill core will be consolidated to this new location.

The program will also include the zones of interest on the newly acquired Cross River claims within the Gold Rock Camp. The Company has recently located a significant amount of historic data and core in the field. This Cross River core will be included in the relogging program at Gold Rock which has an active exploration permit.

"We are very excited to get boots back on the ground and continue to build the high-grade gold story in the Dryden Gold District. Establishing a new operations facility will allow us to consolidate thousands of meters of historic core currently stored throughout the Gold Rock Camp. We feel that the results from our 2023-2024 four-phase drill program gave us valuable data and understanding of the true potential of this high-grade orogenic system. Relogging and re-assaying of the historic core not only has the chance to expand the known gold mineralization but will also provide valuable geological data on the structure and controls within the system," commented Maura Kolb, Dryden Gold's President.

Strategic Field Program in the Gold Rock Camp

During the summer exploration program of 2023, Dryden engaged Mira Geoscience to complete a 3D inversion of the airborne geophysics over the entire Gold Rock Camp which resulted in the creation of a geological model and subsequent exploration targets for the area. This work was completed during the 2023 field season allowing Dryden limited time to systematically explore these targets on surface.

The 2024 program is planned to consist of mapping and sampling with a preferential focus on high-priority areas from these geophysical targets including the newly acquired Cross River property. The Cross River claims host the highest-grade historic mine in the region, the Queen Alexandria Mine, which reported average grades of 32.30 g/t gold¹ and displayed several geophysical anomalies during the 3D inversion analysis. The Company will also be permitting an area north of the patented land specifically focusing on the extension of the Big Master and Elora structures within the Gold Rock camp.

District Wide Field Program

Dryden Gold's resource pipeline includes preliminary work on claims outside of Gold Rock in 2024. The Company has budgeted and is currently planning additional field work and geophysical modeling at its Hyndman and Sheridon properties. Details of the district work program will be fully explained in a subsequent press release.

Qualified Person

The technical disclosure in this news release has been reviewed and approved by Maura J. Kolb, M.Sc., P.Geo., President of Dryden Gold and a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators.

^1. Church, C. 2023. NI 43-101 Technical Report Dryden Gold Project, Kenora and Patricia Mining Divisions, Ontario. 1317223 BC and Dryden Gold NI 43-101 report, 280 pp.

Analytical Laboratory and QA/QC Procedures

All sampling completed by Dryden Gold Corp. within its exploration programs is subject to a Company standard of internal quality control and quality assurance (QA/QC) programs which include the insertion of certified reference materials, blank materials, and a level of duplicate analysis. Drill samples from the 2023 program were sent to Activation Laboratories, with sample preparation and analysis in Thunder Bay, where they were processed for gold analysis by 50-gram fire assay with an atomic absorption finish and over limits determined by Fire Assay with a gravimetric finish. Activation Laboratories systems conform to requirements of ISO/IEC Standard 17025 guidelines and meets assay requirements outlined for NI 43-101.

ABOUT DRYDEN GOLD CORP.

Dryden Gold Corp. is an exploration company focused on the discovery of high-grade gold mineralization listed on the TSX Venture Exchange ("DRY") and traded on the OTC Pink Sheets under the symbol DRYGF. The Company has a strong management team and Board of Directors comprised of experienced individuals with a track record of building shareholder value through property acquisition and consolidation, exploration success, and mergers and acquisitions. Dryden Gold controls a 100% interest in a dominant strategic land position in the Dryden District of Northwestern Ontario. Dryden Gold acknowledges all Indigenous Peoples and that it is operating on the traditional homelands of the Wabigoon Lake Ojibway Nation and Eagle Lake First Nation. Dryden Gold's property package includes historic gold mines but has seen limited modern exploration. The property hosts high-grade gold mineralization over 50km of potential strike length along the Manitou-Dinorwic deformation zone. The property has excellent infrastructure, enjoys First Nations support and proximity to an experienced mining workforce.

For more information go to our website www.drydengold.com.

CONTACT INFORMATION
Trey Wasser, CEO
email: twasser@drydengold.com
phone: 940-368-8337

Ashley Robinson, Investor Relations
Email: ir@drydengold.com
X: @DrydenGold

Maura Kolb, M.Sc., P. Geo., President
Email: mjkolb@drydengold.com
Phone: 807-632-2368

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

Cautionary Note Regarding Forward-Looking Statements

The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements include, but are not limited to, statements with respect to future development plans; future acquisitions; exploration programs; and the business and operations of Dryden Gold. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which could affect actual events or results to differ from those reflected in the forward-looking statements including, the potential for delays in exploration or development activities; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in Dryden Gold's and the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are conditioned against attributing undue certainty to forward--looking statements. These forward-looking statements are made as of the date hereof and Dryden Gold and the Company do not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from Dryden Gold's and the Company's expectations or projections.

Not for US Distribution

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/208520