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DRILLS A NEW HIGH-GRADE GOLD DISCOVERY AT SADDLE SOUTH; STRONG INTERCEPTS IN MULTIPLE HOLES INCLUDING 13.03G/T AU OVER 10.67M; DRILLING CONTINUING, MORE ASSAYS PENDING

 

GT Gold Corp.(GTT.V) has made a significant new gold discovery at its Saddle South prospect, located on the Tatogga property in northwestern British Columbia, Canada. Ongoing drilling has cut a steeply dipping, east-west trending, high-grade gold+/-silver quartz-carbonate base metal sulphide vein system displaying strong down-hole widths and good continuity. The gold-bearing system has been intercepted in 20 reverse circulation ("RC") drill holes (reported herein), and in all ten diamond drill holes completed to date (sampling underway, assays pending). The intercepts are from drill setups spanning roughly 200 metres in an east-west direction, and are as deep as 213 metres (hole TTD010) from surface. The Saddle South gold discovery remains open both to depth and laterally, and diamond drilling is continuing. Assay results from the core drilling will be released as they are received, and a second drill may be added to the program.

Highlights:

  • High-grade gold system hit at Saddle South in multiple holes along a 200 metre strike length to 213 metres from surface; open along strike and to depth;
  • 13.03 g/t Au over 10.67 metres from 7.01 to 17.68 metres in hole TTR008;
  • Including 41.60 g/t Au & 144 g/t Ag over 1.52 metres from 14.63 to 16.15 metres;
  • 8.75 g/t Au over 8.53 metres from 17.68 to 26.21 metres in hole TTR013;
  • Including 18.06 g/t Au over 2.44 metres from 19.20 to 21.64 metres;
  • 14.11 g/t Au over 3.05 metres from 46.33 metres to 49.38 metres in hole TTR017;
  • Including 21.10 g/t Au over 1.52 metres from 47.85 to 49.38 metres;
  • 17.41 g/t Au over 9.14 metres from 46.33 to 55.47 metres in hole TTR019;
  • Including 29.51 g/t Au over 4.57 metres from 49.38 to 53.95 metres;
  • Including 50.50 g/t Au & 231 g/t Ag over 1.52 metres from 52.43 to 53.95 metres;
  • 10.70 g/t Au over 9.14 metres from 14.33 to 23.47 metres in hole TTR020;
  • Including 19.58 g/t Au over 3.05 metres from 18.90 to 21.95 metres;
  • 15.33 g/t Au over 8.84 metres 5.49 to 14.33 metres in hole TTR022;
  • Including 38.60 g/t Au over 1.52 metres from 11.28 to 12.80 metres;
  • Intercepts over strong down-hole widths in all ten HQ diameter core holes drilled to date Assays pending;
  • Large, shallow IP target identified at Saddle North linking with strong known alteration and gold geochemical anomaly, presenting a target of considerable scale - initial drill test underway.

A drilling plan view map and drill section is included in this news release. In addition, the plan view map, drill section, photos of core, camp and drill sites, and a complete table of drill results can be downloaded from the homepage of the Company's website at: www.gtgoldcorp.ca.

Comment:

"This impressive discovery - high grades, strong intercept widths, continuity down dip and along strike - justifies our long-standing enthusiasm for the Saddle prospect," says Kevin Keough, President & CEO. "We believe we're in the process of unfolding a discovery of merit, and one that promises to add a great deal of value to this company. Visual inspection of core, coupled with the XRF results, suggests we're now hitting in every hole at Saddle South, with excellent potential for expansion. We intend to keep a drill focused on Saddle South throughout the exploration season, possibly into October, weather cooperating. If our near-term test of the large new Saddle North IP-soil geochem target is successful, we may mobilize a second drill to the property. We're looking forward to delivering a great deal more from this story."