OUTCROP OF 19.65 G/T GOLD LEADS TO NEWLY EXPOSED VEIN OVER 80 METERS HISTORIC GOLD CAMP GREENWOOD BC

TSX-V: GGX

Outcrop of 19.65 g/t Gold Leads to Newly Exposed Vein Over 80 Meters

Historic Gold Camp Greenwood BC
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Vancouver, British Columbia – June 15, 2017 – GGX Gold Corp. (TSXV: GGX) (the “Company” or “GGX”) is pleased to announce that its excavator trenching program, which was initiated after the discovery of new anomalous quartz outcrop exposed by logging, has now unearthed over 80 meters of Vein on both sides of the C.O.D. shaft . Samples taken from the new outcrop, returned up to 19.65 g/t gold.

“I am more than encouraged by the excavator trenching program on the Gold Drop which has recently exposed over 80 metres of vein adjacent to the C.O.D shaft. As trenching progresses, and new assays from the channel sampling program are reported, I expect we will gain a much better understanding of the mineralized vein structures which are prevalent on the property. “

Says Barry Brown President GGX Gold Corp

The vein remains open at both ends and the new Clare Extension, which is immediately NE of the COD shaft, is on strike with a recently discovered outcrop that is located over 680 meters away, that returned 14.1 g/t gold. The Company is continuing the excavator program on the Clare Extension and has initiated a channel sampling program that will test the vein every 1.5 meters. The first batch of samples from this program have been delivered to ALS Lab for assaying.

The Clare Extension

The program is being conducted at the Gold Drop Southwest Zone formerly the reverted C.O.D. Grant, where the shaft was sampled in the early 30’s and returned a sample reported to be 0.75 oz. / ton Au.

The Gold Drop property covers geologically prospective ground in the well-mineralized Greenwood Mining Division in BC. The property hosts numerous low-sulfide, gold and silver bearing quartz veins or vein systems, four of which were previously mined (Gold Drop, North Star, Amandy and Roderick Dhu veins).

This historic C.O.D. shaft is reported to be approximately 21 metres deep, and reported to have been sunk around 1900 on a gold bearing quartz vein (C.O.D. occurrence). The shaft was reported to have been de-watered in 1983. Historic 1980s trenches reportedly traced the vein to the southwest to the Tel 2 occurrence. The quartz vein in the shaft (C.O.D occurrence) is reported to be 1.22 metres wide, striking northeast – southwest. A 1988 diamond drill hole reported adjacent to the shaft was reported to intersect 7.4 g/t Au and 86.8 g/t Ag over 0.75 metres (true width of mineralization not reported). Chip samples during 1983 from the vein were reported to average 10.3 g/t Au and 102.6 g/t Ag over a length of 1.2 metres. A 1988 quartz vein grab sample from a trench southwest of the C.O.D. shaft was reported to return 20.8 g/t Au and 115.6 g/t Ag (Tel 2 gold and silver occurrence). This 1988 sample was reported as banded chalcedonic quartz.

June 2017 Trenching at Gold Drop Southwest Zone (area of historic C.O.D shaft)

 

Readers are warned that historical records referred to in this News Release have been examined but not verified by a qualified person. Further work is required to verify that historical assays referred to in this News Release are accurate.

David Martin, P.Geo., a Qualified Person as defined by NI 43-101, is responsible for the technical information contained in this News Release.

On Behalf of the Board of Directors,

Barry Brown, Director

604-488-3900

 

Forward Looking Information

This news release includes certain statements that constitute “forward-looking information” within the meaning of applicable securities law, including without limitation, the Company’s information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. Such statements include statements regarding the completion of the proposed transactions. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon several factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of gold and other metals, anticipated costs and the ability to achieve goals, and the Company will be able to obtain required licenses and permits. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks including that resource exploration and development is a speculative business; that environmental laws and regulations may become more onerous; that the Company may not be able to raise additional funds when necessary; fluctuating prices of metals; the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; operating hazards and risks; and competition. There can be no assurance that economic resources will be discovered or developed at the Gold Drop Property. Accordingly, actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, equipment failures, litigation, competition, fees charged by service providers and failure of counterparties to perform their contractual obligations. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

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

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