Eminent Gold provides a drilling update on its Hot Springs Cluster Project

Vancouver, British Columbia–(Newsfile Corp. – December 31, 2024)– Eminent Gold Corp. (TSXV: EMNT) (OTCQB: EMGDF) (“the Company” or “Eminent”) Hot Springs Range is pleased to provide an update on the drilling progress of the Hot Springs Range project in Nevada (see Figure 1 for location), along with key milestones for 2024 that represent a year of strategic progress and significant progress.

Eminent has completed the first core hole of the first drilling program at the Otis target within the Hot Springs Range Project (“HSRP”) to an approximate depth of 500 metres. The drilling goal is to test the hypothesis that the HSRP is a direct counterpart to the prolific Getchell Trend (about 50 million ounces of gold¹) 15 km across the Eden Valley in north-central Nevada (Figure 2).

Eminent is testing the hypothesis that the Eden Valley Fault is an extension of the Getchell Fault, which intersects the nearby Turquoise Ridge deposits¹ (Figure 2), with 7.4 million ounces of gold produced at an average gold grade of 16.9 grams per ton (g/t)². The host rock being tested at HSRP is the Home Ranch Terrane, consisting of rocks similar to but slightly older than those found at Turquoise Ridge³which consists of a severely deformed series of basalt and andesite volcanoes intercalated with severely deformed limestone. The first phase specifically targets the intersection of steep northeast-oriented feeder faults near their convergence with both thrust faults and the Eden Valley fault within the Home Ranch Terrane (see Figure 3).

Visual inspection of the crater core revealed widespread changes in the volcano-dominated portion of the Home Ranch Terrane. The alteration consists of strong hematite, clay gouges, and siliciclastic in the Home Ranch Terrane volcanic host rock and adjacent deformed limestone (Figure 4). Most of the strong alterations in hematite and clay occur in fractured igneous rocks, while the dominant alteration in limestone is silicates. Observations indicate that the first hole was parallel to one of the NE feeder faults, as shown by Eminent’s Controlled Source Magnetotellurics (CSAMT) model.⁸beneath Late Tertiary post-mineral basalt and less deformed Permian sandstone (Figures 3 and 4). First hole inspections are pending and are expected to take place in January. Information obtained from this core provides a clear path for the second drill hole, which will target the intersection of the NE faults with the NW Eden Valley fault as well as the thrust fault that borders the lower contact of the Home Ranch Terrane.

Dan McCoy, Senior Geologist and Director commented: “The Hot Spring Range project has never been drilled before and represents a great opportunity to make a world-class discovery in Nevada given its proximity to the 50-million-ounce Getchell Trend, similar host rocks, similar geochemistry, and similar structural architecture as revealed by geophysics and mapping. CSAMT Geological Maps.

We are very encouraged by the amount and intensity of change observed on the first hole and look forward to starting the second hole in early to mid-January.”

Key milestones for 2024:

• Successfully raised $2.4 million, through development of key strategic initiatives.
• It has acquired the Celts project within the Walker Lane Trend, a direct counterpart to the nearby AngloGold Ashanti Silicon project, with a total gold resource of 4.2 million ounces⁵.
• Launching the first drilling program in the Hot Springs Mountain Range Project.
• The permitting process has begun for the Gilbert South project within the Walker Lane direction.

Looking forward:

Eminent plans to drill all three of its major projects: HSRP, Gilbert South and Celts in 2025 subject to additional financing. This plan represents our commitment to our portfolio approach to world-class new gold discovery in Nevada identified through new concepts and first drilling programs.

Paul Sun, President and CEO of the company, commented: “This is an exciting time for the company and our shareholders as we await initial results from the first hole in the Hot Springs Range. The goal is big; success can range from confirming structures to finding trace gold or large gold intercepts. Although we have done so if we do not cross the main structure, Which will be drilled in the next hole. We intersected the main faults that feed the structure and noticed significant change and the presence of fluids in the rocks.

We are gearing up for a very active 2025, with plans to finance and drill the other two projects in the company’s portfolio. We are also excited to begin expanding our visibility to investors through our partnership with Spark Newswire.”

The company is pleased to announce that it has concluded a marketing consulting services agreement (“spark deal“) with Spark Newswire Inc. (“spark“”) pursuant to which, among other things, Spark shall provide certain promotional services to the Company in accordance with Policy 3.4 – Investor Relations, Promotional Activities and Market Making (“policy“”) from the TSX Venture Exchange (“exchange“).

Spark participation is for an initial period of one month with the option to extend another month at the same monthly budget amount and will begin in January 2024 (“Initial termAfter the Initial Term, the Spark Agreement will automatically renew in one-month increments until canceled with seven days written notice in accordance with its terms. During the Initial Term, Company must provide Spark with an active monthly budget of $ Active or switch to a $50,000 monthly maintenance budget that provides discounted services.

Operating out of Vancouver, British Columbia, Spark provides capital market advisory and advisory services to public companies. By participating with Spark, the company hopes to increase investor participation and create more awareness for the company.

Spark’s appointment is subject to approval by the TSX Venture Exchange.

The Company has agreed to grant 1,350,000 incentive stock options to directors, officers and consultants of the Company. Options vest 1/3 every six months after the grant date and are exercisable at $0.45 for 5 years.

All scientific and technical information contained in this news release has been prepared or approved by Michael Dufresne, PGeo. Mr. Dufresne is a qualified person for the purposes of National Instrument 43-101 – Disclosure Standards for Mineral Projects.

Figure 1. Location map of the prominent project

Figure 2. Map of the HSRP project location in relation to the Getchell direction.

Figure 3. Schematic map of the Otis target showing Mississippian limestone, volcanism in the Home Ranch Terrane, feed faults, and thrust faults⁷Area of ​​high gold and arsenic in the soil¹drill hole HSC002, and the cross section shown in Figure 4.

Figure 4. Drilling section showing lithology and alteration of Eminent’s first HSRP drill hole. The location of faults and rock characteristics away from the drill hole are interpreted from CSAMT geophysics. Reference 43-101

1. www.s25.q4cdn.com/322814910/files/doc_downloads/operations/ngm/Turquoise-Ridge-Technical-Report-March2024.pdf

2. www.barrick.com/English/operations/nevada-gold-mines/default.aspx

3. www.nbmg.unr.edu/staff/pdfs/CassinerioMuntean_TurqRidge_GSN2011.pdf

4. www.reports.anglogoldashanti.com/23/wp-content/uploads/2024/04/AGA-RR23.pdf

5. Gold mines in Nevada. (2021, May 20). Investor Day Presentation. Barrick Gold Company.

6. Lin, T., Harvey, T., Moritz, R., Samari, H., and Breckenridge, L. (2021). Preliminary Economic Evaluation NI 43-101 Technical Report for Granite Creek Mine Project Humboldt County, Nevada, USA. Global Resources Engineering Company Limited

7. Jones, UAE (1997): Geological map of the Hot Spring Peak Quadrant and the southeastern portion of the Little Poverty Quadrant, Nevada, Nevada Bureau of Mines and Geology, Nevada Bureau of Mines and Geology, scale 1:24,000

8. www.eminentgoldcorp.com/site/assets/files/5967/hotspringsrange-43-10120220808-final.pdf

On behalf of the Board of Directors

Paul Sun
CEO and Director

About prominent gold

Eminent Gold is a gold exploration company focused on creating shareholder value through the exploration and discovery of world-class gold deposits in Nevada. Its multidisciplinary team has achieved multiple successes in gold discoveries and brings expertise and new ideas to the Great Basin. The company’s exploration assets in the Great Basin include: Hot Springs Range, Gilbert South and Celts.

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

This press release contains certain statements that may be deemed “forward-looking statements” with respect to the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “anticipates,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” and “projects.” . , “likely” and similar expressions, or that events or circumstances “will”, “will”, “may”, “could” or “should” occur. Forward-looking statements in this press release include the expected completion of the Private Placement and use of proceeds from the Private Placement. Although Eminent Gold Corp believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, including the assumption that records and reports of historical business are accurate and correct, such statements are not guarantees of future performance, and are subject to risks and damages. Uncertainties, and actual results or facts may differ materially from those in the forward-looking statements. These material risks and uncertainties include, but are not limited to, the Company’s ability to raise sufficient capital to fund its obligations under its royalty agreements going forward, to maintain its mineral holdings and concessions in good standing, to explore and develop the Company’s projects or other projects, to repay its debt and for the purposes of General working capital; changes in economic conditions or financial markets; The inherent risks associated with mineral exploration and mining operations, future prices of gold, silver and other minerals, changes in general economic conditions, the accuracy of mineral resource and reserve estimates, and the Company’s ability to obtain the necessary permits and approvals required for exploration. Drilling and developing the Company’s projects and, if obtained, obtaining such permits and approvals in a timely manner consistent with the Company’s plans and commercial objectives for the projects; The Company’s overall ability to invest its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company’s operations, compliance with environmental laws and regulations, Aboriginal title claims, consultation and residence rights, reliance on key management personnel and general competition in the mining industry. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates, opinions or other factors change.