Calgary, Canada April 21, 2021 – Crestview Exploration Inc. (CSE: CRS, Frankfurt: CE7) (“Crestview” or “the Company”) is excited to announce several key updates to the upcoming phase 1 drilling at the Cimarron gold prospect (“Cimarron” or the “Property”; see Map 1 below). The Bureau of Land Management (BLM) has approved our notice of intent to conduct a drilling operation at the Cimarron gold prospect, and the company has fulfilled the reclamation bonding requirement. A biological survey is currently being conducted in the area of disturbance at Cimarron, and road work/drill site construction is scheduled to commence today, April 21st, 2021.
The BLM indicated a possible cultural resource in one of the target areas, resulting in one of the planned holes being dropped from the program. Crestview has also moved one hole to reduce the amount of overland travel necessary for this program. See the updated drill hole map below. A reminder to the reader, the resource indicated in the map was calculated before the 43-101 practice became commonplace and therefore should be considered as “historical” in nature and not 43-101 compliant. Crestview’s initial plan for the property is to validate the historic drill hole assay and calculate a 43-101 compliant resource.
MAP 1 – Cimarron Location
Drilling equipment will begin arriving on May 1st, 2021, with drilling operations scheduled to commence on May 3rd, 2021. This drill program will be conducted on the Cimarron “core claims” in the area of the historic San Antonio mine. The targeted areas (see map 2) for phase 1 drilling received significant attention in the 1980’s, with an approximately 50,000-ounce shallow oxide gold resource outlined but never extracted (reference is to an internal mining report by Peter Hahn to Budge Mining Ltd. dated February 17, 1987 which should be considered as “historical” and not 43-101 compliant). The phase 1 drill program is focused on validating and expanding on the historic resource by drilling a selection of twin holes to greater depths than the former operators.
MAP 2 – Historical (non 43-101 compliant) Resource Estimates
Additional upcoming activity planned at the Cimarron gold prospect includes mapping, surface sampling, and aerial drone surveying at both the core claim area and the recently staked expansion.
For additional details on the Cimarron property, the reader is referred to the previous news releases titled: “Crestview Exploration Inc. Acquires a Lease with Option to Purchase on the Cimarron Gold Prospect in Nye County – Nevada” dated February 24, 2021; “Crestview Exploration Inc. Announces Land Expansion at the Cimarron Gold Prospect in Nye County – Nevada” dated March 16, 2021; and “Crestview Exploration Contracts AK Drilling to Conduct Phase 1 Drilling at the Cimarron Gold Prospect in Nye County, Nevada” dated March 23, 2021.
The above report was prepared by J.A. Lowe, M.Sc. Geology, and has been approved by Brian T. Brewer, M.Sc., CPG #11508.
Brian T. Brewer is a Qualified Person as defined by NI 43-101 and has reviewed the scientific and technical disclosure included in this news release”
Additionally, the Company reports that it has entered into a marketing agreement with Sideways Frequency LLC effective April 2021. Sideways Frequency LLC will run Crestview’s marketing campaigns including PPC marketing, email marketing, display advertising, newsletter dissemination, native advertising and advertisement on its website.
About Crestview Exploration Inc:
Crestview Exploration is a technology driven, well-funded and experienced exploration company focused on finding gold and silver deposits in mining friendly jurisdictions. The Crestview’s projects Rock Creek, Divide, and Castile Mountain are situated in the Tuscarora Mountains of northern Elko County, Nevada. The company’s Tuscarora properties combined comprise a total of 101 unpatented lode mining claims, with 74 claims at Rock Creek, 19 claims at Divide, and 8 claims at Castile Mountain.
The Cimarron project is located in the San Antonio Mountains of Nye County, Nevada, and is comprised of 53 unpatented lode mining claims, including control of 6 historically producing claims associated with the historic San Antonio mine.
Brian T. Brewer, M.Sc., CPG #11508, is a Qualified Person as defined by NI 43-101 and has reviewed and approved the scientific and technical disclosure in this news release.
Glen Watson, Chief Executive Officer
This news release includes certain information that may be deemed “forward-looking information” under applicable securities laws. All statements in this release, other than statements of historical facts, that address acquisition of the Property and future work thereon, mineral resource and reserve potential, exploration activities and events or developments that the Company expects is forward-looking information. Although the Company believes the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include the results of the Company’s due diligence investigations, market prices, exploration successes, continued availability of capital financing, and general economic, market or business conditions, and those additionally described in the Company’s filings with the Canadian securities authorities.
Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking information. For more information on the Company, investors are encouraged to review the Company’s public filings at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE