Highway 50 continues exploration at Quito N, Gold Knob

Executive Summary

• Highway 50 Gold Corp. has expanded its land position at the Quito North project in north-central Nevada by staking 93 new claims, effectively doubling the size of the existing tenure to cover known pathfinder and gold mineralization.
• The company is advancing exploration activities at both the Quito North and Gold Knob projects, commissioning gravity surveys at Quito North and CSAMT/gravity surveys at Gold Knob.
• At the Gold Knob project, biogeochemical sampling has been completed at the Wildhorse target area to extend subcropping gold mineralization, with future drilling planned to connect Wildhorse mineralization to the Gold Knob zone.

Key Details

• Quito North Project Land Expansion:
  • Staked an additional 93 claims.
  • New claims cover an area of known pathfinder and gold mineralization on surface within both upper- and lower-plate rocks.
  • The acquisition more than doubles the size of the existing tenure.
  • The Quito lower-plate window has a history of former high-grade gold production and shows strong similarities to the world-class Cortez mining district.
  • Mineralization orientation is consistent with dominant directions found in major Carlin-type gold districts in Nevada.
  • A gravity survey has been commissioned with an imminent start date.
• Gold Knob Project Exploration:
  • Located at the intersection of the Caetano trough and the Western Nevada rift, structures associated with mineralization in the Cortez district.
  • Completed four lines of biogeochemical sampling over the northern and southern extremities of the Wildhorse target area.
  • Wildhorse target is located 1.5 kilometres south of Gold Knob.
  • Previous shallow drilling at Wildhorse outlined a small gold resource over a one-square-kilometre area under shallow pediment cover in upper-plate rocks.
  • Subsequent drilling will focus on connecting the Wildhorse mineralization to the Gold Knob zone.
  • Current discoveries are believed to be leakage peripheral to the main part of the gold system.
  • Gravity and CSAMT (Controlled Source Audio-frequency Magnetotellurics) surveys have been commissioned at Gold Knob.