TRU Precious Metals Contracts Simcoe Geoscience for IP Survey at Golden Rose Project

Toronto, Ontario–(Newsfile Corp. – February 9, 2022) – TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (“TRU” or the “Company”) is pleased to announce that it has retained Simcoe Geoscience Limited (“Simcoe”) to conduct an Induced Polarization (“IP”) survey at the Company’s flagship Golden Rose Project (“Golden Rose”) in the Central Newfoundland Gold Belt, scheduled to commence later this month. The Company is also providing an interim update on the delay in receiving drill results from its winter 2021 drilling program at Golden Rose.

Golden Rose is a regional-scale land package covering approximately 236 square kilometres (km²) in the Central Newfoundland Gold Belt, including approximately 45 km of strike length along the deposit-bearing Cape Ray -Valentine Lake Shear Zone between Marathon Gold Corp.’s Valentine Gold Project to the northeast and Matador Mining Ltd.’s Cape Ray Gold Project to the southwest.

Winter 2021 Drillhole Assays Update

TRU reported results from 2 drillholes in its press release dated January 11, 2022, and is still awaiting assay results from the remaining 20 of the 22 drillholes from its recent approximately 4,100 metre drill program at Golden Rose. TRU has not yet received any further results to report at present. The Company continues to await all outstanding assays, including those from 3 holes containing visible gold at the Woods Lake Gold Zone, as well as holes at the King George IV lake area where the Company discovered a new quartz-pyrite-chalcopyrite (copper) stockwork system.

The sole assay lab in Newfoundland is currently experiencing a longer than usual turnaround time for analytical results, sometimes resulting in delays of up to several months, due to Covid and the increased demand from rapidly expanding local mineral exploration. TRU is looking at ways to expedite receiving results from submitted samples, and in any case continues to expect to receive results in batches on a rolling basis over the coming weeks and months, which will be reported in a timely manner as they are received.

Simcoe IP Survey

TRU will be deploying Simcoe’s next-generation wireless, high-definition Alpha IP™ technology at Golden Rose. The IP survey will cover newly defined plus underexplored historical gold exploration targets. The survey will comprise approximately 56 line km of wireless time domain induced polarization using Simcoe’s Alpha IP™ system. The use of wireless technology substantially reduces the footprint of the survey and the time required as line cutting is not required. The survey is expected to be completed in approximately 60 days from commencement.

Barry Greene, VP of Property Development and Director of TRU, commented: “We are delighted to partner with Simcoe at Golden Rose. Their unparalleled modelling experience and proprietary Alpha IP™ system will provide detailed data essential to planning our 2022 trenching and drilling programs. The information garnered from this IP survey will be crucial to developing a well-defined set of targets at Golden Rose for the various high-priority areas, and will add to our extensive inventory of grassroots gold and copper targets for an expanded regional exploration program throughout 2022. It is also encouraging that Simcoe has worked successfully with other junior resource companies in the Newfoundland Gold Belt, and we are looking forward to the completion of this project.”

Alpha IP is a “green” survey technology with no tree cutting required – an example of effective, next generation and non-destructive exploration methods at work. Simcoe’s history of geophysical discovery spans from coast to coast in Canada, with Alpha IP data and surveys playing a key role in the recent discovery of what is becoming Ascot Resources’ new mine in interior BC. In addition, Simcoe works locally in Newfoundland with clients such as Aurwest Resources.

Simcoe will be surveying Golden Rose with deep-penetrating Alpha IP technology to acquire 2D data which then can be quickly modeled and imaged in high-definition 3D. This comprehensive 3D imaging will ultimately provide TRU with the precise targeting needed to potentially intersect gold-related mineralization and structures of interest across a substantial portion of Golden Rose. Trenching and drilling of recommended targets can quickly follow the Alpha IP targeting later in 2022.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/113228