Warrior Expands Mineralization and Discovers New High-Grade Gold at “A” Zone

Toronto, Ontario – January 20, 2020 - Warrior Gold Inc. (TSX-V - WAR) (“Warrior Gold” or the “Company”) is pleased to report the results of the Company’s Fall 2019 “A” Zone diamond drilling program (10 drill holes - 2,106 m) on its 100%-owned Goodfish-Kirana Project located in the Kirkland Lake Camp in Ontario (see Map 1).

Program Highlights:

  • Mineralized zone has been extended 100 m to the east, extended 50 m to the west and remains open in both directions and at depth

  • Drilling intersected new high grades in a subparallel shear zone in the footwall at shallow depth

  • Continuity of geological structure and model confirmed

Gold was intersected in nine of ten drill holes, expanding the extent of known gold mineralization. In addition, new high-grade intervals south of the “A” Zone have been discovered. Selected highlighted assay results from the Fall 2019 drill program are provided in Table 1 below and all assay results can be found on the Company’s website at www.warriorgoldinc.com.

Significant Drill Results

South (footwall) of “A” Zone:

  • GK19-018: 11.52 g/t Au over 3.0 m (18 m vertical depth)

  • GK19-023: 1.37 g/t Au over 1.3 m (49 m vertical depth)

  • GK19-025: 11.25 g/t Au over 1.5 m (58 m vertical depth)

  • GK19-025: 1.21 g/t Au over 1.5 m (70 m vertical depth)

  • GK19-025: 2.36 g/t Au over 1.5 m (117 m vertical depth)

“A” Zone:

  • GK19-017: 0.70 g/t Au over 1.5 m (72 m vertical depth)

  • GK19-018: 0.50 g/t Au over 10.5 m (146 m vertical depth)

  • GK19-019: 1.49 g/t Au over 10.8 m (165 m vertical depth)

  • GK19-022: 2.82 g/t Au over 4.2 m (200 m vertical depth)

  • GK19-023: 0.58 g/t Au over 21.0 m (84 m vertical depth) including 4.36 g/t Au over 1.50 m

  • GK19-025: 3.27 g/t Au over 5.6 m (128 m vertical depth)

Danièle Spethmann, President and CEO commented: “We are extremely pleased with the results of our recent “A” Zone drill campaign, which substantiates previously reported historical high-grade gold results. The mineralization remains open along strike, at depth, and now a new zone has been identified to the south. Although early in our discovery process, we continue to deliver significant and anomalous gold results. Our geological model continues to be refined, which improves our future drill targeting generation.”

Map 1. Property location, “A” Zone location and regional geology, Goodfish-Kirana Property.
Map 2. LiDAR plan map of “A” Zone with Fall 2019 drill hole locations and assay results.

The target at the “A” Zone area is shear-hosted gold mineralization that strikes 110° and dips steeply to the north, at 70° to 75°. The shear varies from 1 m to 20 m in width. It has been intersected to a vertical depth of 225 m below surface and has a current strike length of approximately 300 m. The zone is characterized by moderate to strong deformation textures and structures (foliation, breccias, shears and faults) and pervasive sericite ± carbonate ± silicate alteration.

Drill hole GK19-025 was drilled in the middle of the high-grade zone and intersected 3.27 g/t Au over 5.6 m, within ~ 17 m of Glencairn’s 2.85 g/t Au over 8.6 m in GF92-19 (NI 43-101, February 9, 2018). Drill holes GK19-019 (1.49 g/t Au over 10.8 m), GK19-022 (2.82 g/t over 4.2 m) and GK19-023 (0.58 g/t Au over 21 m) have extended the mineralization to the west by 50 m at depths between 100 m and 225 m below surface. Drill holes GK19-016 (0.26 g/t Au over 1.5 m), GK19-017 (0.70 g/t Au over 1.5 m), GK19-018 (0.50 g/t Au over 10.5 m), GK19-020 (0.40 g/t Au over 1.5 m), and GK19-021 (0.14 g/t Au over 1.5 m) extended the mineralization and intersected a shear zone to the east over 100 m from historical drilling.

Newly discovered anomalous gold mineralization has been intersected in the area of the footwall. There appears to be a subparallel zone to the main zone located approximately 50 m to 75 m to the south. Intersections in this mineralized trend include 1.37 g/t Au over 1.3 m in GK19-023 and 11.25 g/t Au over 1.5 m, 1.21 g/t Au over 1.5 m, 0.36 g/t Au over 12.3 m and 2.36 g/t Au over 1.5 m in GK19-025. Another high-grade intersection occurs in drill hole GK19-018 with 11.52 g/t Au over 3.0 m associated with quartz iron carbonate veining at a vertical depth of 18 m below surface and 100 m to the south of the main zone. Warrior Gold is reviewing the geological and structural data in the footwall area to better understand the controls and continuity of this new mineralization.

Drilling Contract, Analytical Protocol and QA/QC

The Fall 2019 drilling contract was awarded to SMP Drilling based in Rouyn, Quebec. The drill hole diameter is NQ. Drilling took place from the end of October to mid-November 2019.

Program design, management, and Quality Control/Quality Assurance were conducted by Warrior Gold’s exploration group under the guidance of Tom Neelands, P.Geo., the Company's Qualified Person and with support from Melissa Render, P.Geo., Principal Consultant. Miguel Nassif, PhD, supervised all aspects of the core logging which included: core orientation, photography, geology, structural measurements, magnetic susceptibility, core recovery and the insertion of standards and blanks. Standards were obtained from Analytical Solutions Ltd. and the QA/QC results were reviewed by N. Pastakia. Technical support for this disclosure was also provided by Susan Lomas, P.Geo., of Lions Gate Geological Consulting Inc. (LGGC).

Drill core samples were cut by diamond saw at the Toburn Core Cutting facilities adjacent to the Warrior Gold core logging facilities in the town of Kirkland Lake. Field duplicate samples, blank rock samples and certified reference materials were inserted into the sample sequence at a frequency of one per 20 samples, except in GK019-016 and -017 where QAQC was mistakenly omitted. A halved core sample was left in the core box with the other half core sampled and transported by Warrior Gold’s personnel in securely sealed bags to ALS Limited’s sample preparation laboratory in Timmins, Ontario. After sample preparation, samples were shipped to ALS's Vancouver facility for gold and ICP analysis. Gold assays greater than three g/t are re-assayed on a 30 g split by fire assay with a gravimetric finish. ALS is a certified and accredited laboratory service. ALS routinely inserts certified gold reference materials, blanks and pulp duplicates, and results of all QC samples are reported.

The technical information contained in this news release has been approved by Tom Neelands, P.Geo., the Chief Geologist for Warrior Gold, who is a Qualified Person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.

Section 1. Longitudinal Section of “A” Zone and results.
Table 1: Significant assay intercepts and geology
  • Intervals have been presented in core length. The true widths are estimated to be 30% to 60% of the downhole length when hole and dips of the mineralized horizons are considered.

  • Intercepts occur within the interpreted extents of the major structures.

  • Assay results as presented have not been capped.

  • Abbreviations: ser = sericite, fe carb = iron carbonate, qtz = quartz, NSV = no significant values, FW = Footwall

Table 2. Drill Hole Collar Data

About Warrior Gold Inc.

Warrior Gold is a TSX Venture Exchange-listed Company that owns the Goodfish-Kirana Property located five km from the Town of Kirkland Lake, Ontario. The Property is located in the historic Kirkland Lake Gold Camp which is situated in the prolific Abitibi Greenstone Belt, recognized as one of the world’s highest grade greenstone belts with over 200 million ounces of gold produced to date.

The Goodfish-Kirana Property is 11.5 km long by roughly three km wide (34 km2) and contains three major structural trends: the east-west trending Kirana Deformation Zone; the northeast-trending Goodfish Deformation Zone; and the Victoria Creek Deformation Zone. The Property contains numerous historical gold showings, as well as 18 historical pits and shafts.

For additional information please contact:

Danièle Spethmann, P.Geo.

President & CEO

Warrior Gold Inc.

+1 647 344-3433

dspethmann@warriorgoldinc.com

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.

Forward-Looking Statements: This press release contains forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", “anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. The forward-looking statements are based on certain key expectations and assumptions made by the Company. Although Warrior Gold believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Warrior Gold can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. In addition to other risks that may affect the forward-looking statements in this press release are those set out in the Company’s Management Discussion and Analysis of the financial condition and results of operations for the year ended March 31, 2019 and the second quarter ended September 30, 2019, which are available at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof and Warrior Gold undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

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1400 - 25 Adelaide Street East
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