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GUSKIN GOLD CORP.

Press Releases

Guskin Gold Corp. Announces Highly Favorable Airborne Geophysics Findings on the Kukuom Gold Project

SAN JOSE, CA, March 7, 2022 — Guskin Gold Corp (OTC: GKIN) (“Guskin Gold” or the “Company”) is pleased to announce results of a recent interpretation of the airborne geophysics survey on the Kukuom property.


The report identifies six (6) high-priority target anomalies. The most promising, a 2,000 meter long anomaly directly overlain and correlating to the previously announced high-grade samples, which tested up to 46.6 g/t gold in the open pit.


The airborne surveys, commissioned by the Minister of Land and Natural Resource and operated by Aerodat Inc. and High Sense Geophysical Ltd., both from Canada and from 1994 to 2000, flew a regional area which included the Kukuom Concession and collected multiple geophysical data including magnetic, thorum, potassium, and uranium responses (see footnote 1).


Highlights


The Company’s technical team has completed a review of the geophysical data and found a correlation between the location of high-grade-gold bearing Vein 54 and Vein 55 of the Kukuom open pit and a magnetic anomaly typified by very high magnetic response.


Vein 54 and Vein 55 are exposed in the open pit, approx. 50 meters in length, and correlate to a Total Magnetic Intensity (TMI) boundary and relief indicative of a highly probable shear zone that runs over 2,000 meters in length.



As previously reported, initial samples collected at the Kukuom open pit tested up to 46.6 grams per tonne (g/t) gold. In preparation for a proposed drill and open pit bulk testing program, the Company collected six (6) samples on the Kukuom property from the hard rock vein, surrounding open pit wall, and two historic alluvial tailing piles found onsite. Most notably, three samples were taken from the exposed vein measuring 46.6 g/t and 10.65 g/t gold. The third sample, broken quartz and weathered host rock was recovered and further broken up in a cast iron/steel mortar using a steel pestle. The resulting comminuted ‘ore’ was then washed and panned in the traditional manner; this material returned a gold value of 23.3 g/t Au. Additionally, a random weathered hostrock sample was also assayed measuring 1.84 g/t gold.



Highly Favorable TMI Results


There are two (2) distinct magnetic domains evident on the TMI image (Figure 1); a domain of moderate-to-high magnetics in the southeast, and a domain of low-moderate magnetics in the north and northeast portion of the concession.


The two contrasting magnetic responses correspond to and reflect the underlying regional geology; a predominantly Birimian metamorphics, which has been interpreted to be highly metamorphosed (upper greenschist-amphibolite facies) equivalents of clastic sediments and volcaniclastics with minor intercalating mafic volcanics, lie to the immediate southeast of the metavolcanics units that underlie the north and northwestern portion of the Kukuom concession.


Distinctly circular-elliptical shaped, high magnetic signatures are clearly evident in both lithologic units; one of such high magnetic anomalies is coincident with Target 1 with the high-grade gold quartz vein systems in the open pit. Gold mineralization reported to date in the general area occurs in both the metavolcanic and metasedimentary lithologies. A variety of rock types within these packages have been mineralized so no differentiation is required for the purposes of target generation.


“Why is there an upside to the gold mineralization potential of the Kukuom property? The property is attractive simply because lithological and structural features that favor quartz veins emplacement and gold precipitation exist”; states Francis Agezo, Guskin Gold’s Director of Exploration.


“The relative competency of the two lithologies caught up in this structural corridor is considered to provide the competency contrast that can focus mineralizing fluids and has provided the brittle-ductile regime conducive for the deposition of gold from gold-bearing fluids streaming up these structural conduits.”


“Additionally, and equally interesting is that gold mineralization appears to be related to quartz veining and alteration halos within the country rocks characterized by weak to moderate sericite-silica-carbonate alteration. Sulfides are rare. Whilst high tenor gold values tend to coincide with zones of stronger quartz vein development, broader zones of lower grade persist into the altered hanging wall and footwall, even where quartz veining is absent. Besides, gold mineralization doesn’t always necessarily follow the main geological or regional structures, they are typically related to the secondary and/or subsidiary structures albeit related to the major regional contact of the volcano-sedimentary package. This has been confirmed by the occurrence of gold quartz vein systems exposed in the artisanal open pit and which is coincident with high magnetic anomaly, Target 1.”


In the open cut, much of the eluvium is washed and panned to recover fairly low-grade material, 1 to 3 g/t gold, whereas the deeper workings are usually restricted to the moderate-grade weathered veins in the oxide zone. Although these gold-quartz vein systems may be restricted in strike length and width, swarms of the systems are believed to occur along a mineralized trend with strike length in excess of 2,000m; such promising swarms could be repeated elsewhere in the property where similar geology is featured.

About Guskin Gold Corp.

Guskin Gold Corp. (OTCQB: GKIN) is a mining company publicly traded in the United States, with its head office in Santa Clara, California. Guskin is focused on gold exploration and alluvial mining in Ghana, the number one gold producer in Africa and seventh largest gold producing country in the world. The Company’s leadership team is world-class. Many are native to Ghana, all offer specialized expertise in the business of gold exploration, mining, public markets, and finance. And all are passionately committed to the success of the Company, our partners, and investors. For additional information please visit www.guskingold.com.

Contact Information

Mrs. Naana Asante
Chief Executive Officer
Tel: + (408) 766-1511
naana.asante@guskingold.com
www.guskingold.com

Qualified Person Statement

Guskin Gold’s disclosure of a technical or scientific nature in this news release has been reviewed and approved by Francis Agezo, P.Geo, a qualified person under the definition of National Instrument 43-101. This report was commissioned for the purpose of a subsurface geophysical investigation to map geological structure. The Company accepts no responsibility or liability for any use of this report or any reliance upon this report by any person, other than the use of the whole of this report by the Client consistent with the Purpose. The full report, while unpublished in this press release, must always be considered in its entirety.

Footnote 1

The aeromagnetic data over the concession area was flown in two campaigns with different specifications. Much of the concession area was flown by Aerodat Inc. of Canada in 1994-1996 at a line spacing of 200m and a nominal terrain clearance of 100m with lines oriented northwest-southeast. A relatively small area (approx. 10-15% of the total area) was surveyed by High Sense Geophysics Ltd (later owned by Fugro Airborne Services) on behalf of the Government of Ghana in 1999-2000, at a line spacing of 400m and a nominal terrain clearance of 80m, with flight lines oriented northwest-southeast. The magnetic and radiometric (thorium, potassium, and uranium) data was re-processed for interpretation.

Forward-Looking Statements and Disclosure

This news release contains “forward-looking statements” which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as “anticipate”, “seek”, intend”, “believe”, “estimate”, “expect”, “project”, “plan”, or similar phrases may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with the exploration and exploitation of the Kukuom Concession, new mineral and/or gold projects, securing necessary financing, the future of the U.S. and global economies, the impact of competition, and the Company’s reliance on existing regulations pertaining to the mining and exploration of mineral properties in Ghana and internationally. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission. For more information, please visit www.sec.gov.