Hanstone Completes Drilling Program at DOC Gold Property, Northwest British Columbia

Vancouver, British Columbia--(Newsfile Corp. - October 13, 2020) - Hanstone Gold Corp. (TSXV: HANS) ("Hanstone" or the "Company") is pleased to announce the successful completion of their 2020 exploration program on their flagship DOC property located in British Columbia's Golden Triangle.

Conducted with the assistance of their technical team at Axiom Exploration Group Ltd. ("Axiom"), Hanstone's maiden drilling program consisted of 21 drillholes totalling approximately 2,700 m and focused on high priority historic and newly discovered target areas.

Figure 1

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6279/65844_fig1.jpg

The summer program was designed as a first pass evaluation to test six of twelve high priority areas over the DOC claims including the Q19, Galena Ridge, Q17, Q22, Q26 and Q28 target areas.

The summer exploration program was augmented by prospecting to verify historical high-grade Au, structural mapping, satellite analysis, and geological mapping.

An unconstrained 3D inversion of the historic ground magnetics survey was also completed to strengthen the understanding of subsurface geology. To conclude the summer program Axiom's UAV & Geomatics Division conducted a high-resolution UAV Magnetics survey over 245 line-kms of the property to aid in the identification of controlling structures and to highlight additional areas of interest for follow up drilling. Processing of the data is underway with results expected in late Q4 2020.

During the 2020 exploration program, the DOC camp was upgraded to support larger scale drilling programs, and plans are in place to further upgrade camp to support up to 4 diamond drilling rigs on the property. Upon program completion, all drilling equipment was left on site to facilitate an efficient start-up for 2021 drilling.

Figure 2

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6279/65844_fig2.jpg

The 2020 drilling and exploration was supervised by Tyler Fiolleau, P.Geo. and Darren Slugsoki, P.Geo., both of Axiom Exploration Group Ltd. Sample analyses are being conducted by TSL Laboratories Inc. in Saskatoon, Saskatchewan, and results will be reported upon compilation of all of the data, which is anticipated before the end of November.

Raymond Marks, President and Chief Executive Officer of Hanstone, stated: "We are quite satisfied with the work program conducted this year. We are looking forward to the 2020 assay results and actively planning for the 2021 exploration season."

Technical Disclosure:

The technical information in this news release has been reviewed and approved by Doug Engdahl, P.Geo. (CEO & Principal Geologist, Axiom), and Matthew Schwab, P.Geo. (President & Senior Geologist, Axiom), each of whom is a "Qualified Person" for the Company as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").

About Hanstone:

Hanstone is a precious and base metals explorer with its current focus on the Doc and Snip North Projects optimally located in the heart of the prolific mineralized area of British Columbia known as the Golden Triangle. The Golden Triangle is an area which hosts numerous producing and past-producing mines and several large deposits that are approaching potential development. The Company holds a 100% earn in option in the 1,704 hectare Doc Project and owns a 100% interest in the 3,336 hectare Snip North Project. Hanstone has a highly experienced team of industry professionals with a successful track record in the discovery of gold deposits and in developing mineral exploration projects through discovery to production.

"Ray Marks"

Ray Marks

President and Chief Executive Officer

For further information, please visit the Company's website at www.hanstonegold.com.

Contact Information: Raymond Marks, President & Chief Executive Officer, Hanstone Gold Corp., +1 778 896 7778, rmarksgold@gmail.com; Bob Quinn, Vice President, Hanstone Gold Corp., +1 713 412 2620, rjq@pdq.net.

Forward Looking Information:

The information contained herein contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events, or developments that the Company expects or anticipates will or may occur in the future. Generally, but not always, forward-looking information and statements can be identified using words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events, or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.

Forward-looking information and statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about Hanstone's business and the industry and markets in which it operates and will operate. Forward-looking information and statements are made based upon numerous assumptions, including among others, the results of planned exploration activities are as anticipated, the price of gold, the cost of planned exploration activities, that financing will be available if needed and on reasonable terms, that third party contractors, equipment, supplies and governmental and other approvals required to conduct Hanstone's planned exploration activities will be available on reasonable terms and in a timely manner and that general business and economic conditions will not change in a material adverse manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual results, performances, and achievements of Hanstone to differ materially from any projections of results, performances, and achievements of Hanstone expressed or implied by such forward-looking information or statements, including, among others, negative operating cash flow and dependence on third party financing, uncertainty of the availability of additional financing, the risk that future assay results will not confirm previous results, imprecision of mineral resource estimates, the uncertainty of commodity prices, aboriginal title and consultation issues, exploration risks, reliance upon key management and other personnel, deficiencies in the Company's title to its properties, uninsurable risks, failure to manage conflicts of interest, failure to obtain or maintain required permits and licenses, changes in laws, regulations and policy, competition for resources and financing, or other approvals.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by 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 forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward- looking information because of new information or events except as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/65844