Winshear identifies geochemical anomaly at Thunder Bay

Mr. Richard Williams reports WINSHEAR REPORTS REGIONAL SCALE GOLD GEOCHEMICAL ANOMALY AT THE THUNDER BAY GOLD PROJECT, ONTARIO Winshear Gold Corp. has provided new geochemical results from reconnaissance mapping, prospecting and basal till geochemical sampling at the Thunder Bay gold project (TBGP), Northwestern Ontario. Numerous areas for follow-up have been identified, the most prominent of which is the discovery of a six-kilometre-long series of anomalous gold-in-till samples named Inflection, which is located in the central/southern part of the project area. Winshear's chief executive officer, Richard Williams, stated: "Results from the initial reconnaissance geochemical survey at TBGP are very encouraging, and confirm management's belief that the magnetic and structural character of the project reflects a highly prospective exploration environment. The Inflection target, in particular, has a large footprint and is located directly over an area where several major structures converge. We will now commence more detailed soil geochemistry and an airborne magnetic survey to vector toward the bedrock source(s) of the anomalies." Targets for follow-up Inflection The Inflection target represents a newly discovered gold anomaly with up to 44 parts per billion (ppb) gold-in-till samples. The area covers the intersection of several east-southeast- and west-southwest-trending structures and contains a complex mix of felsic to intermediate volcanics, clastic metasediments and komatiitic ultramafic rocks. Historical mapping in the area has noted abundant stockwork quartz veining in felsic volcanic rocks. This area has not seen any significant historic exploration and is a priority target for the company. El Dorado Located in the eastern section of the project area, rock and till geochemistry returned modest gold, silver and copper values that warrant further follow-up. Historical sampling by Ontario Geological Survey has returned up to 36.3 grams per tonne (g/t) gold (Au) in arsenopyrite-bearing quartz veins in this area (Ontario mineral deposit database MDI152A10SW00032). Central and northern areas Anomalous gold-in-till samples were found in the central and northern parts of the project area, where sampling density is very low. These targets are located close to strong structural lineaments as seen in the magnetic response. Government mapping in these areas is sparse. Additional sampling is being planned in a follow-up program to flush out the extent and source of these anomalies. Proposed phase II exploration program A geochemical sampling program consisting of the collection of approximately 150 till samples, 600 B horizon soils and 250 prospecting samples will commence in the next two weeks. Drone-based airborne magnetic surveys are also being considered for the Inflection target and the El Dorado target areas, in order to improve the structural understanding of the area and for future exploration follow-up. Overview of the Thunder Bay gold project: Eastern extension of the Archaean-age Shebandowan greenstone belt; Very little historical exploration conducted in the Thunder Bay gold project area; Potential for orogenic gold, volcanogenic massive sulphides and nickel-copper-cobalt sulphide deposits; Evidence of geological structural setting similar to other gold-endowed Abitibi greenstone belts in Ontario; Historical reports indicate the presence of high-grade gold mineralization (more than one ounce per ton (oz/t) Au) at the Gold Hill and Eldorado prospects. The Kingfisher fault (Shebandowan structural zone) is a major, deep-rooted crustal structure that locally forms the northern margin of the Shebandowan greenstone belt and is in contact with the Quetico metasedimentary domain to the north. It is spatially linked to Timiskaming-like fault-bounded basins and arcuate greenstone belts. The Shebandowan area contains typical greenstone-belt assemblages, including volcanic sequences (mafic to ultramafic/komatiitic flows and sills), intercalated clastic sedimentary rocks and granitoid intrusions. Structurally, rocks are locally highly sheared and folded. As the Shebandowan structural zone has experienced long-lived repeated brittle-ductile reactivation, it is considered to be an important control on mineralizing fluids. The Shebandowan region has a history of exploration for gold and base metals (komatiite-hosted and structurally controlled styles). Current exploration projects and historical working in the region have targeted shear zone hosted gold near structural breaks and intrusive contacts. Mines in the Shebandowan belt include Inco's Shebandowan nickel-copper-PGE (platinum group element) mine that was in production from 1972 to 1998. The mine produced 9.29 million tonnes (t) at grades of 1.75 per cent nickel (Ni), 0.88 per cent copper (Cu) and 1.83 g/t PGE. Exploration by Inco over that period focused primarily on Cu-Ni-PGE deposits. Other companies working in the belt include Delta Resources, which is exploring the Eureka gold zone, a gold target that measures 2.5 kilometres (km) long, 10 to 100 metres (m) wide and at least 300 m deep. The gold mineralization is hosted in stockwork veinlets of quartz-ankerite-pyrite within a broad alteration zone of ankerite, calcite, silicification and albitization. Higher-grade intercepts include 5.92 g/t Au over 31 m and 1.79 g/t Au over 128.5 m. GoldX2 is advancing its Moss gold project, which has an indicated mineral resource estimate of 1,535,000 ounces grading 1.23 g/t Au and an inferred mineral resource estimate of 5,198,000 ounces grading 1.11 g/t Au, toward a production decision. Sampling procedures The procedure for till sampling was: collection of till samples using pickaxes and shovels to excavate a hole deep enough to expose unweathered material and determine if it was basal till before an approximately three-kilogram (kg) sample was collected. Samples were stored at the contractors secure warehouse facility before being transported by the contractor staff to the Actlabs laboratoy in Ancaster, Ont. The company is relying on Actlabs QA/QC (quality assurance/quality control) protocols for this first-pass reconnaissance geochemical surveys. Internal QA/QC procedures to include some gold standards into the soil sample streams are being considered for the next-stage geochemical surveys. Samples were analyzed for gold using Actlabs' 1A2 fire assay method using a 30-gram (g) sample and a detection limit of five parts per billion Au. Multielement analysis was conducted using Actlabs' 1E3 method -- ICP-OES (inductively couple plasma optical emission spectroscopy), providing results for 38 elements, including silver, arsenic, cobalt, copper, molybdenum, nickel, lead, antimony and zinc. About Winshear Gold Corp. Winshear Gold is a Canadian-based minerals exploration company with projects in Canada and the United Kingdom, where discovery of economic mineral deposits can deliver long-term value for its shareholders. The company is currently conducting a regional-scale gold and nickel, copper, and PGE exploration program on its Thunder Bay project, located in Ontario. Qualified person J. Patricio Varas, PGeo, a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, has read and approved all technical and scientific information contained in this news release. Mr. Varas acts as president and is a technical adviser for Winshear Gold. He has not verified the sample data presented in this news release and as part of future exploration on the project, new sampling will be conducted in order to verify the continuing exploration results. We seek Safe Harbor.