Transatlantic Mining continues phase 1 Miller drilling

Executive Summary

• Transatlantic Mining Corp. reports progress on Phase 1 surface drilling at the historic Miller Gold Mine, completing 2,069 m in 25 holes of a planned 3,000 m program.
• Eight holes have been drilled deeper beneath existing workings, ten extend north‑south, and seven test an old mine dump; assays from the first 17 holes are pending (expected late August–early September).
• The company is mobilizing an underground drill rig to begin testing the lower target area, advancing its earn‑in royalty arrangement that could lead to full ownership of the Miller property.

Key Details

• Option Exercise: On Dec 21 2020, Transatlantic exercised its initial option term to acquire 100 % of the Miller mine (≈29 mi NE of Townsend, MT).
• Phase 1 Drilling Progress: 2,069 m completed in 25 holes; target depth range 10–207 m; program goal 3,000 m.
• Hole Distribution:
• 8 holes drilled deeper under existing upper‑target workings.
• 10 holes exploring north‑south extensions of the vein system.
• 7 shallow holes testing an old mine dump.
• Assay Status: Samples from the first 17 holes submitted; results anticipated end Aug–early Sept.
• Underground Drilling Mobilization: Underground drill rig deployed to test lower target area concurrent with surface program.
• Historical Context: Miller Mine historically produced an average grade of 7.94 oz/t Au (248 g/t) and 4.65 oz/t Ag (145 g/t). Hole No. 1 previously intersected 14.7 oz/t Au (516 g/t).
• Royalty / Purchase Terms: Current arrangement includes an 8.5 % royalty on ounces; option to purchase the property for US$4.5 M less paid royalties, thereafter a perpetual 1 % NSR royalty to the vendor.
• Qualified Person: Aslam Awan, PhD, MAusIMM (CP, Geo), qualified under NI 43‑101, reviewed technical information.

Notable Quotes

“The target is being well intersected on the sediment granodiorite contact to date. We are getting near the end of the phase 1 drilling campaign and are looking forward to sharing the results with investors.” – Bernie Sostak, CEO, Transatlantic Mining Corp.