Walker Updates Drilling Program at the Lapon Gold Project

Vancouver, B.C.  November 3, 2022 – Walker River Resources Corp. (“Walker” or the “Company”) (TSX-V: “WRR”) is pleased to provide an update on its reverse circulation (“RC”) drill program at the 100% owned Lapon Gold Project located approximately 60 kilometres southeast of Yerington, Nevada.

 A total of seventeen (17) drill holes were completed at the Lapon Gold Project. Sample preparation of the drill holes has been finalized, with over 1300 samples submitted to certified laboratory facilities in Sparks, NV.

Seven (7) RC drill holes were drilled at the Pikes Peak portion of the Lapon Gold Project. Of these, two were abandoned in poor rock conditions consisting of intense shearing, fracturing and the abundance of water encountered within the holes.

These RC drill holes represent the first recorded modern drilling at Pikes Peak. This initial drill program was designed for geological purposes to determine rock types, geometry, structure, and the potential for gold and copper mineralization.

Significant historical mining activities are present at Pikes Peak (shafts, adits, mill) in a copper – gold environment. Previous sampling (see news release 9/04/2019) by Walker returned values of 9 g/t Gold and 2.2% Copper from bedrock. Geological mapping and surveying also revealed the presence of quartz monozonite porphyry, very significant for the emplacement of copper gold mineralization in Nevada and elsewhere. The historical underground workings at the Pikes Peak Project are currently inaccessible, due to cave-ins and unstable ground.

Ten (10) holes were carried out at the Lapon Canyon portion of the Lapon Gold Project. Primarily on  continued drill exploration at the Hotspot area, located 200 meters above and 250 meters on strike SE of the historic mine workings, and high – grade drilling intercepts from Walker’s previous drilling (see Walker’s previous news release from 2016 to 2022).

Significant drill results were encountered at the Hotspot zone, including 7.62 g/t Au over 48.8 m in LC 21-80, 5.68 g/t Au over 60.9 m in LC 21-81 and 1.84 g/t Au over 122 m in LC 21-84, (see news release 03/31/2022) among other significant drill results from this specific area of the Project.

The Hotspot Zone appears to be flat lying (sub horizontal to horizontal), analogous to Basin and Range thrust faulting. For these reasons, drilling appears it can be carried out in different directions (azimuth) from the same drill pad, with multiple holes drilled from one drill set up, often in a fan shaped pattern.

The current drill program was designed to test the feasibility of drilling multiple holes from the same drill set up, for systematic drilling on section. Drilling was successful in this regard, with the completion of        10 holes from three drill pads. This, combined with the geometry of the mineralized zone, will allow Walker to carry out systematic drilling on section with pads placed at every 30 meters or so, and up to five (5) drill holes per drill pad.

The Hot Spot area’s topography and steepness of the mountain is less severe, allowing for simpler, faster drill access construction, set up and drilling. The mineralization is not visible at surface, as it is overlain by approximately 3 meters of loose colluvium, making drill road access and pad construction quicker at less cost. Additional drill access road and pad construction has been completed for future drill programs.

Assays are pending from the above Lapon Gold Project RC drill program’s recently submitted samples, results will be released as they become available.

About the Lapon Gold Project

The Lapon Gold Project consists of 147 claims (2940 acres) situated in the Wassuk Range, within the Walker Lane shear zone, a 100 km wide structural corridor extending in a southeast direction from Reno, Nevada. The Project is easily accessible by secondary state roads from the main highway (25 kilometres), and is located approximately 60 kilometres southeast of Yerington, Nevada. A state power grid transmission line passes within three kilometres of the Project.

The Lapon Gold Project includes Lapon Canyon, the Pikes Peak claims located 4 kilometres to the north, and the Rattlesnake and Range Front claims 3 kilometres to the west and over 600 meters lower than the present drilling at Lapon Canyon. The Rattlesnake, Range Front, and Pikers Peak claims cover over 8 km of possible extensions of the range front zones to the west, north, and south of Lapon Canyon, adding several additional drill target areas to the project. Rattlesnake and Pikes Peak contain numerous historical mining and milling areas that consist of adits at different levels, shafts and underground workings, and a network of existing roads providing access throughout.  Little or no exploration work has been carried out on these claims prior to Walker’s arrival. It is notable that the Rattlesnake area and adits are on strike with the Lapon Canyon discoveries located 3 km on strike and 600 meters above.

Lapon Canyon hosts historical high grade gold mining with approximately 2000 feet of undergoing workings in three adits. Historical underground work returned numerous assay values in the one ounce per ton range, with a sample at the end of the A adit returning 20.6 ounces per ton Au. (NI43-101, Montgomery and Barr, 2004).

Sampling Methodology, Chain of Custody, Quality Control and Quality Assurance

All sampling was conducted under the supervision of the Company’s project geologists and the chain of custody from the drill to the sample preparation facility was continuously monitored. A blank or certified reference material was inserted approximately every tenth sample. The Lapon Canyon samples were delivered to American Assays Laboratories’ certified laboratory facilities in Sparks, NV. The samples were crushed, pulverized and the sample pulps digested and analyzed for gold using fire assay fusion and a 50g gravimetric finish. Intensely altered samples used a 1 kg pulp screened to 100 microns. Duplicate assay on screen undersize. Assay of entire oversize fraction.

Samples are taken and bagged directly at the drill rig at every 1.5-meter interval, standard in the exploration industry. A small sample is also taken at the drill rig and put into a chip tray for examination purposes and to determine those sample bags that should be sent to the lab for assay purposes. Often this work is carried out using a microscope for the examination of the rock chips. The full sample bag from the interval chosen for assay purposes is then sent directly from the drill site to the lab, located in Sparks, NV.

The scientific and technical content and interpretations contained in this news release have been reviewed, verified and approved by E. Gauthier, geol., Eng (OIQ) a Qualified Person as defined by NI 43-101, Standards of Disclosure for Mineral Projects.

ON BEHALF OF THE BOARD OF DIRECTORS

 

“Michel David”

________________________
Michel David,

Chief Executive Officer and Director

FOR FURTHER INFORMATION PLEASE CONTACT:

 

Walker River Resources Corp.

Tel: 819 874-0030

Fax: 819 825-1199

Email: info@wrrgold.com

Website: www.wrrgold.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statements Regarding Forward Looking Information

This news release contains certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or statements that events, conditions, or results “will”, “may”, “could”, or “should” occur or be achieved. Forward-looking statements in this news release relate to, among other things, closing of the Private Placement, receipt of all necessary approvals in connection therewith, and use of proceeds of the Private Placement. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, social and regulatory uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, an inability on the part of the Company to obtain TSX Venture Exchange acceptance of the Private Placement and management’s discretion to reallocate the use of proceeds. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. The Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.

Walker Announces Closing of Private Placement

Vancouver, B.C. September 28, 2022 – Walker River Resources Corp. (“Walker” or the “Company”) (TSX-V: WRR) is pleased to announce that, further to its news release of September 26, 2022, it has closed its non-brokered private placement offering today with the issuance of a total of 2,500,000 units (the “Units”) of the Company at a price of $0.25 per Unit for proceeds of $625,000.00 (the “Private Placement”).

Each Unit consists of one common share (“Share”) in the capital of the Company and one Share purchase warrant (“Warrant”), whereby each Warrant is exercisable into an additional Share for a period of 24 months from the date of issuance at an exercise price of $0.30.

All securities issued in connection with the Private Placement are subject to a statutory four-month hold period, expiring January 29, 2023, in accordance with applicable securities legislation. Completion of the Private Placement remains subject to receipt of applicable regulatory approvals, including final acceptance by the TSX Venture Exchange.

Proceeds of the Private Placement will be used for work on the Company’s mineral properties and general working capital.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.

ON BEHALF OF THE BOARD OF DIRECTORS

 

“Michel David”

________________________
Michel David,

Chief Executive Officer and Director

FOR FURTHER INFORMATION PLEASE CONTACT:

 

Walker River Resources Corp.

Tel: 819 874-0030

Fax: 819 825-1199

Email: info@wrrgold.com

Website: www.wrrgold.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statements Regarding Forward Looking Information

This news release contains certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or statements that events, conditions, or results “will”, “may”, “could”, or “should” occur or be achieved. Forward-looking statements in this news release relate to, among other things, closing of the Private Placement, receipt of all necessary approvals in connection therewith, and use of proceeds of the Private Placement. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, social and regulatory uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, an inability on the part of the Company to obtain TSX Venture Exchange acceptance of the Private Placement and management’s discretion to reallocate the use of proceeds. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. The Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.

Walker Begins Drilling at the Lapon Gold Project

Vancouver, B.C. September 27, 2022 – Walker River Resources Corp. (“Walker” or the “Company”) (TSX-V: “WRR”) is pleased to announce that reverse circulation (“RC”) drilling has re-started at the Lapon Gold Project, located some 60 km SE of Yerington, Nevada.

Drilling started at the Pikes Peak portion of the Lapon Project, a seven-to-ten-hole program is planned here. Significant historical mining activities are present at Pikes (shafts, adits, mill) in a copper and gold environment. A previous regional sampling and prospecting program by Walker returned values of 9 g/t Au and 2.2% Cu from bedrock. (see news release 9/04/2019)

Geological mapping and surveying also revealed the presence of a quartz monozonite porphyry, very significant for the emplacement of copper and gold mineralization in Nevada. It is notable that no reported modern drilling or geological exploration activities exist on the Pikes Peak claims area.

Following the Pikes Peak program, drilling will move to the Lapon Canyon portion of the Lapon Gold Project. Drilling will be centered on the Hotspot area, located 200 meters above and 250 meters on strike SE of the historic mine workings, and high-grade drilling intercepts from Walker’s previous drilling from 2016 to 2021. (see Walker’s previous news releases from 2016 to 2022).

Significant drill results were encountered at the Hotspot Zone, including 7.62 g/t Au over 48.8 m in LC 21-80, 5.68 g/t Au over 60.9 m in LC 21-81 and 1.84 g/t Au over 122 m in LC 21-84, (see news release 03/31/2022) among other significant drill results from this area.

The Hotspot Zone appears to be flat lying (sub horizontal to horizontal), analogous to Basin and Range thrust faulting. Therefore, drilling can be carried out if different directions (azimuth) from the same drill pad, up to five holes can be drilled from a single drill pad, often in a fan shaped pattern.

The topography and steepness of the mountain is less severe here, allowing for simpler and faster drill access construction, set up and drilling. The mineralization is not visible at surface, as it is overlain by approximately 3 meters of loose colluvium, making drill road access and pad construction quicker at less cost. This combined with the geometry of the mineralized zone, will allow Walker to carry out systematic drilling on section with pads placed at every 30 meters or so, with up to five holes per pad. Additional drill access road and pad construction has been completed for this current and future drill programs.

About the Lapon Gold Project

The Lapon Gold Project consists of 147 claims (2940 acres) situated in the Wassuk Range, within the Walker Lane shear zone, a 100 km wide structural corridor extending in a southeast direction from Reno, Nevada. The Project is easily accessible by secondary state roads from the main highway (25 kilometres), and is located approximately 60 kilometres southeast of Yerington, Nevada. A state power grid transmission line passes within three kilometres of the Project.

The Lapon Gold Project includes Lapon Canyon, the Pikes Peak claims located 4 kilometres to the north, and the Rattlesnake and Range Front claims 3 kilometres to the west and over 600 meters lower than the present drilling at Lapon Canyon. The Rattlesnake, Range Front, and Pikers Peak claims cover over 8 km of possible extensions of the range front zones to the west, north, and south of Lapon Canyon, adding several additional drill target areas to the project. Rattlesnake and Pikes Peak contain numerous historical mining and milling areas that consist of adits at different levels, shafts and underground workings, and a network of existing roads providing access throughout.  Little or no exploration work has been carried out on these claims prior to Walker’s arrival. It is notable that the Rattlesnake area and adits are on strike with the Lapon Canyon discoveries located 3 km on strike and 600 meters above.

Lapon Canyon hosts historical high grade gold mining with approximately 2000 feet of undergoing workings in three adits. Historical underground work returned numerous assay values in the one ounce per ton range, with a sample at the end of the A adit returning 20.6 ounces per ton Au. (NI43-101, Montgomery and Barr, 2004).

The scientific and technical content and interpretations contained in this news release have been reviewed, verified and approved by E. Gauthier, geol., Eng (OIQ) a Qualified Person as defined by NI 43-101, Standards of Disclosure for Mineral Projects.

ON BEHALF OF THE BOARD OF DIRECTORS

 

“Michel David”

________________________
Michel David,

Chief Executive Officer and Director

FOR FURTHER INFORMATION PLEASE CONTACT:

 

Walker River Resources Corp.

Tel: 819 874-0030

Fax: 819 825-1199

Email: info@wrrgold.com

Website: www.wrrgold.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Walker to Close Private Placement

Vancouver, B.C. September 26, 2022 – Walker River Resources Corp. (“Walker” or the “Company”) (TSX-V: WRR) is pleased to announce that it intends to close a non-brokered private placement offering this week with the issuance of a total of 2,500,000 units (the “Units”) of the Company at a price of $0.25 per Unit for proceeds of $625,000.00 (the “Private Placement”).

Each Unit shall consist of one common share (“Share”) in the capital of the Company and one Share purchase warrant (“Warrant”), whereby each Warrant shall be exercisable into an additional Share for a period of 24 months from the date of issuance at an exercise price of $0.30.

All securities issued to be issued in connection with the Private Placement will be subject to a statutory four-month hold period in accordance with applicable securities legislation. Completion of the Private Placement is subject to receipt of applicable regulatory approvals, including final acceptance by the TSX Venture Exchange, and a further news release will be issued the date of closing disclosing the expiration date of the hold period.

Proceeds of the Private Placement will be used for work on the Company’s mineral properties and general working capital.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.

ON BEHALF OF THE BOARD OF DIRECTORS

 

“Michel David”

________________________
Michel David,

Chief Executive Officer and Director

FOR FURTHER INFORMATION PLEASE CONTACT:

 

Walker River Resources Corp.

Tel: 819 874-0030

Fax: 819 825-1199

Email: info@wrrgold.com

Website: www.wrrgold.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

Cautionary Statements Regarding Forward Looking Information

This news release contains certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or statements that events, conditions, or results “will”, “may”, “could”, or “should” occur or be achieved. Forward-looking statements in this news release relate to, among other things, closing of the Private Placement, receipt of all necessary approvals in connection therewith, and use of proceeds of the Private Placement. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, social and regulatory uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, an inability on the part of the Company to obtain TSX Venture Exchange acceptance of the Private Placement and management’s discretion to reallocate the use of proceeds. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. The Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.

Walker Announces Share Consolidation

Vancouver, B.C. July 21, 2022 – Walker River Resources Corp. (“Walker” or the “Company”) (TSX-V: “WRR”) announces a consolidation of its common shares on a six (6) for one (1) basis (the “Share Consolidation”). The Company currently has 205,961,178 common shares issued and outstanding. Following the Share Consolidation, the Company expects to have 34,326,863 common shares issued and outstanding.

The TSX Venture Exchange (“TSXV”) has accepted the Share Consolidation and confirmed that the Company’s common shares will commence trading, effective market open on July 25, 2022, on the TSX.V on a post-consolidated basis. The Company’s name and trading symbol remain unchanged.

On the effective date, the Company’s new CUSIP number will be 931778203 and ISIN will be CA9317782030. Letters of transmittal describing the process by which shareholders may obtain new share certificates or Direct Registration System (DRS) advices representing their consolidated common shares will be mailed shortly to registered shareholders. Shareholders who hold their shares through a broker or other intermediary and do not have shares registered in their name will not be required to complete a letter of transmittal. The letter of transmittal will be filed under the Company’s profile on SEDAR at www.sedar.com.

Pursuant to the provisions of the Business Corporations Act (British Columbia) and the Articles of the Company, the Share Consolidation was approved by way of resolutions passed by the board of directors of the Company.

ON BEHALF OF THE BOARD OF DIRECTORS

 

“Michel David”

________________________
Michel David,

Chief Executive Officer and Director

FOR FURTHER INFORMATION PLEASE CONTACT:

 

Walker River Resources Corp.

Tel: 819 874-0030

Fax: 819 825-1199

Email: info@wrrgold.com

Website: www.wrrgold.com

Neither TSX Venture Exchange Nor Its Regulation Service Provider (As That Term Is Defined In The Policies Of The TSX Venture Exchange) Accepts Responsibility For The Adequacy Or Accuracy Of This News Release.

Drill Results From New Discovery At Lapon Canyon Return 7.62 g/t Au Over 48.8 Meters And 77.14 g/t Au Over 4.5 Meters

Vancouver, B.C. March 31, 2022 – Walker River Resources Corp. (“Walker” or the “Company”) (TSX-V: “WRR”) is pleased to announce drill results from the late 2021 reverse circulation (“RC”) drill program at the Lapon Canyon portion, of its 100% owned Lapon Gold Project located approximately 60 kilometres southeast of Yerington, Nevada.

Drill results confirm the discovery of a new high grade gold mineralized zone (the “Hotspot”).

LC 21-80 returned 7.62 g/t Au over 48.8 meters, including 77.16 g/t Au over 4.5 meters.

LC 21-81 returned 5.68 g/t Au over 60.9 meters, including 17.76 g/t Au over 18.3 meters, and 99.7 g/t Au over 1.5 meters.

LC 21-82 returned 1.84 g/t Au over 122 meters including 8.61 g/t Au over 9.2 meters, and 4.28 g/t Au over 47.3 meters, the latter two results being in granite. The hole ended in gold mineralization at 122 meters.

Key Highlights 

  • The presence of significant gold mineralization in granite (LC 21-82), demonstrates new and significant potential to the project. Previously the granite was thought to be barren. The Company will now undertake to assay granites from the previous drillhole samples not sent to the lab.
  • It is now warranted to drill longer and deeper holes at Lapon Canyon, with significant gold mineralization recently discovered within the granite at the Hotspot, previously unknown to exist on the Project.
  • Hole 21-65 (1.88 g/t over 54.5 meters) was the initial discovery hole. The zone is not visible at surface, as it is covered by a blanket of colluvium and granite boulders
  • Holes LC 20-35 (1.35 g/t over 22.9 meters) and LC 21-67, located some 100 meters NW of the new Hotspot zone confirmed its discovery.
  • The unanticipated robust nature of gold mineralization discovered at the Hotspot zone, allows the Company to apply the same methodologies at Lapon Canyon’s other known mineralized zones. Including, follow up drilling at the mineralized zones discovered in holes LC 19-42 and 43.
  • The 2022 drill programs at Lapon Canyon will now consist of systematic drilling on section for geological modelling purposes, as well as exploration drilling to discover new gold mineralization and extend known gold mineralization, including, now at depth.

Assay Table: Summary of Drill Results:

Hole   

 

From

(m)

To

(m)

Length*

(m)

Assay (Au g/t)* Gold Metal Factor

(g/t x m)

Notes:
LC 21-80 10.7 59.5 48.8 7.62 372
incl 55 59.5 4.5 77.62 347
and 55 56.5 1.5 166.37 249
and 58 59.5 1.5 65.00 97.5
LC 21-81 10.7 71.6 60.9 5.68 346
incl 41.2 59.5 18.3 17.76 325
and 47.3 48.8 1.5 99.78 150
and 53.4 54.9  1.5 39.98 60
and 57.9 59.4 1.5 50.98 76
LC 21-82 0 122 122** 1.84 224
incl 64 111.3 47.3 4.28 202
and 85.3 122 36.7 3.46 127 In Granite
and 85.3 94.5 9.2 8.61 79 In Granite
LC 21-76 13.7 15.2 1.5 25.57 38

* The above drill results are presented uncapped and lengths represent sampled lengths. True width is estimated to be between 60 and 80 percent of sampled widths.

** LC 21-82 ended at 122 meters in gold mineralization

The new Hotspot zone is located some 200 meters above and 250 meters SE, on strike with the high-grade mineralization at the historic mine workings, with previously reported high grade drill results (LC 16-10 77.62 g/t over 12.2 meters, among others).

Other drill holes include LC 21-76 and LC 21-84 where a second altered zone was discovered below granite. The two altered zones show anomalous to low grade gold throughout, with LC 21-76 returning a high-grade value of 25.57 g/t over 1.5 meters. The granites also show anomalous gold values throughout, an excellent indicator for future exploration. The presence of a second altered zone below granite is very significant as it increases the potential of Lapon Canyon. Hole LC 21- 84 was lost at 140 meters in intense fracturing, an indicator of potential gold mineralization at Lapon Canyon.

Drillholes LC 21-73 to 75 were drilled in the barren late-stage diorite intrusive at the bottom of Lapon Canyon, for geological informational purposes, obtaining thicknesses and angles within the intrusive, important geological information for future drilling.

Drillholes LC 21-85 and 86, were drilled in the lower granites, in preparation for follow up drilling of the high-grade mineralization discovered in Holes LC 19-42 and 43.

Finally, holes LC 21-77 to 79 were drilled to ascertain geological parameters for the drilling of the discovery at the new Hotspot zone. Unexpectedly this led to the discovery of the Upper Granite, which is well mineralized in LC 21-82 (Hotspot).

Now that the late 2021 drill program assay results have been received, planning of the continuation of drilling at Lapon Canyon is underway. Due to the robust nature of the gold mineralization at the new Hotspot zone discovery, both unexpected and surprising, the Company will shift its focus here, and using the same methodologies, follow up drilling at the discoveries encountered in holes LC 19-42 and 43.

Drilling at the Pikes Peak portion of the Lapon Gold Project, which was interrupted in late 2021, due to poor road access conditions, will begin as soon as possible, subject to road access conditions and drill contractor availability. Significant historical mining activities are present (shafts, adits, mill) in a copper gold environment. Sampling by Walker returned values of 9 g/t Au, and 2.2% Cu from outcrop. It is significant that there are no reported drilling or exploration activities from Pikes Peak.

The gold mineralization at Lapon Canyon is contained in a wide (300 meters), long (over 4km strike length), intensely altered (sericite, iron oxides) sheared and faulted NE trending fault zone. Gold mineralization is present pervasively throughout as an envelope of lower grade mineralization (0.5 to 2.0 g/t Au) enveloping distinct high-grade structures, that have been drilled over a strike length of over 850 meters and a vertical extent of 400 meters.

The high-grade gold mineralization is encountered in discrete, traceable zones located at the intersection of flat lying porphyry dikes and vertical stockwork fracture chimneys.

About the Lapon Gold Project

The Lapon Gold Project consists of 147 claims (2940 acres) situated in the Wassuk Range, within the Walker Lane shear zone, a 100 km wide structural corridor extending in a southeast direction from Reno, Nevada. The Project is easily accessible by secondary state roads from the main highway (25 kilometres), and is located approximately 60 kilometres southeast of Yerington, Nevada. A state power grid transmission line passes within three kilometres of the Project.

The Lapon Gold Project includes Lapon Canyon, the Pikes Peak claims located 4 kilometres to the north, and the Rattlesnake and Range Front claims 3 kilometres to the west and over 600 meters lower than the present drilling at Lapon Canyon. The Rattlesnake, Range Front, and Pikers Peak claims cover over 8 km of possible extensions of the range front zones to the west, north, and south of Lapon Canyon, adding several additional drill target areas to the project. Rattlesnake and Pikes Peak contain numerous historical mining and milling areas that consist of adits at different levels, shafts and underground workings, and a network of existing roads providing access throughout.  Little or no exploration work has been carried out on these claims prior to Walkers arrival. It is notable that the Rattlesnake area and adits are on strike with the Lapon Canyon discoveries located 3 km on strike and 600 meters above.

Lapon Canyon hosts historical high grade gold mining with approximately 2000 feet of undergoing workings in three adits. Historical underground work returned numerous assay values in the one ounce per ton range, with a sample at the end of the A adit returning 20.6 ounces per ton Au. (NI43-101, Montgomery and Barr, 2004).

Sampling Methodology, Chain of Custody, Quality Control and Quality Assurance

All sampling was conducted under the supervision of the Company’s project geologists and the chain of custody from the drill to the sample preparation facility was continuously monitored. A blank or certified reference material was inserted approximately every tenth sample. The Lapon Canyon samples were delivered to American Assays Laboratories’ certified laboratory facilities in Sparks, NV. The samples were crushed, pulverized and the sample pulps digested and analyzed for gold using fire assay fusion and a 50g gravimetric finish. Intensely altered samples used a 1 kg pulp screened to 100 microns. Duplicate assay on screen undersize. Assay of entire oversize fraction.

Samples are taken and bagged directly at the drill rig at every 1.5 meter interval, standard in the exploration industry. A small sample is also taken at the drill rig and put into a chip tray for examination purposes and to determine those sample bags that should be sent to the lab for assay purposes. Often this work is carried out using a microscope for the examination of the rock chips. The full sample bag from the interval chosen for assay purposes is then sent directly from the drill site to the lab, located in Sparks, NV.

The scientific and technical content and interpretations contained in this news release have been reviewed, verified and approved by E. Gauthier, geol., Eng (OIQ) a Qualified Person as defined by NI 43-101, Standards of Disclosure for Mineral Projects.

ON BEHALF OF THE BOARD OF DIRECTORS

 

“Michel David”

________________________
Michel David,

Chief Executive Officer and Director

FOR FURTHER INFORMATION PLEASE CONTACT:

 

Walker River Resources Corp.

Tel: 819 874-0030

Fax: 819 825-1199

Email: info@wrrgold.com

Website: www.wrrgold.com

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