Blackwolf Copper and Gold Ltd. Feb. 23 announced the first update of the year with highly encouraging surface sample assay results from 2021 reconnaissance exploration programs at its Southeast Alaska properties.

Located at the end of the Alaskan Panhandle, on Prince of Wales Island, the historic Niblack Mine is located over 1,000 meters north of the current NI 43-101 mineral resources in the Lookout and Trio zones of the property.

According to a 2011 calculation, these deposits host 5.64 million metric tons of indicated resource averaging 0.95% (118.1 million pounds) copper, 1.74 grams per metric ton (317,220 ounces) gold, 29.5 g/t (5.35 million oz) silver, and 1.73% (215 million lb) zinc; plus 3.39 million metric tons of inferred resource at 0.81% (60.7 million lb) copper, 1.33 g/t (144,710 oz) gold, 20.1 g/t (2.19 million oz) silver and 1.29% (96.3 million lb) zinc.

Situated near the mining towns of Hyder, Alaska and Stewart, British Columbia, recent additions to the Blackwolf portfolio are the Texas Creek and Cantoo properties, just immediately west of the Premier gold project and south of past-producing Scottie gold and Granduc copper mines in BC's famed Golden Triangle.

In addition to Cantoo, Blackwolf added the Solo and Doghole prospects to its exploration portfolio, with high-grade gold-silver mineralization being identified in multiple areas during their initial work program, including three areas that will be prioritized for drilling and additional surface exploration.

Highlights from the 2021 work include:

• Cantoo – individual assays up to 30.4 g/t gold, 2,860 g/t silver and 5.8% copper from grab samples of material eroding from a series of stacked veins up to 30 meters wide. The Cantoo veins have been traced over 500 meters along strike and are considered a high-priority drill target.

• Solo – grab samples up to 10 g/t gold and 7,910 g/t silver were collected from a zone of quartz veining and alteration over 535 meters of strike length, partially exposed under snow and ice cover. The ultra-high-grade veins explored by Blackwolf and historic prospectors at Solo are geologically similar to structures at the Brucejack gold mine.

• Doghole – grab samples up to 11.3 g/t gold and 530 g/t silver from multiple areas of intrusive-related disseminated to massive sulfide mineralization, shearing and quartz-sulfide veining proximal to Texas Creek intrusive rocks.

"Cantoo is one of the best undrilled targets I've seen in my career in the Golden Triangle and it is our intent to put the first drill holes into these wide, outcropping veins," said Blackwolf Copper and Gold President and CEO Rob McLeod. "At Solo, the exceptional electrum that attracted pioneer explorers, verified by Blackwolf's geologic team, are analogous to high-grade structures that are part of mineralizing systems at the largest deposits in the Golden Triangle, such as Brucejack and Premier. The lack of modern exploration and regional geological surveys, exceptional known high-grades and relative ease of potential road access highlight the opportunity for discovery at our properties."

Blackwolf's 2021 field program consisted of three weeks of fly-camp-supported reconnaissance mapping and sampling. Geologists completed a one-to-2,500-scale structural and stratigraphic mapping and collected 243 rock samples across the Texas Creek and Cantoo properties.

Two reconnaissance soil lines were also completed at the Blasher prospect at Texas Creek and the Cantoo property, totaling 100 soil samples. Surface sampling was centered on evaluating historic mines and prospects, including Cantoo, Solo, Silver King, Double Anchor, Blasher, Doghole, and Iron Cap showings, all of which have seen almost no modern-day exploration.

Blackwolf Copper and Gold Ltd.

Hyder area property locations with regional geology, mines and major deposits in the area.

"I am grateful for the discoveries made by our geological team, led by Hayley McIntyre and excellent support from our friends in the Community of Hyder, Alaska," added McLeod.

EDITOR'S NOTE: Previously, the mineral resource estimate was written as 53.5 million ounces of silver. It has been corrected by moving the decimal place to 5.35 million.