Avidian Gold Commences Drone Magnetic and Fixed-Wing LiDAR Surveys at Golden Zone Property, Alaska

TORONTO, ON / ACCESSWIRE / August 13, 2020 / Avidian Gold Corp. (“Avidian” or the “Company“) (TSX-V:AVG) is pleased to announce that it has contracted Eagle Mapping Services Ltd (Eagle Mapping) to complete a fixed-wing Light Detection and Ranging (LiDAR) survey over the entire Golden Zone Property and Pioneer Exploration Consultants Ltd. to conduct a drone magnetic survey over key portions of the Golden Zone Property in Alaska.

The ongoing surveys at Golden Zone are part of the effort by Avidian to continue to expand the existing 267,400 ounce Indicated Breccia Pipe gold resource. The road accessible property is strategically located midway between Anchorage and Fairbanks and 16 km west of paved State Highway 3, the Alaska Railroad and the 345 kV Alaska Intertie power lines (see Figure 1).

Dr. Tom Setterfield, Vice President of Exploration for Avidian states: “The LiDAR survey will provide important information on the structural setting of the Breccia Pipe gold deposit and provide a structural template to seek similar deposits elsewhere on the property. It will also provide key structural information at regional to prospect scales, which will allow us to put all our known mineralization into its proper structural context. In addition to providing structural information, the magnetic survey will help Avidian to interpret the location of concealed intrusions, which are key to the mineralization processes at Golden Zone, and to locate alteration-related addition or destruction of magnetic minerals”.

The technical information contained in this news release has been approved by Steve Roebuck, P.Geo. and President of Avidian Gold, who is a Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Avidian Gold Corp.

Avidian brings a disciplined and veteran team of project managers together with a focus on advanced stage gold exploration projects in Alaska. Avidian’s Golden Zone project hosts a NI 43-101 Indicated gold resource of 267,400 ounces (4,187,000 tonnes at 1.99 g/t Au) plus an Inferred gold resource of 35,900 ounces (1,353,000 tonnes at 0.83 g/t Au)*. Additional projects include the Amanita and the Fish Creek gold properties which are both adjacent to Kinross Gold’s Fort Knox gold mine in Alaska and the Jungo gold/copper property in Nevada. *Technical Report on the Golden Zone Property, August 17, 2017, L. McGarry P.Geo & I. Trinder P.Geo, A.C.A Howe International Ltd.

Avidian is the majority owner of High Tide Resources, a private company with an option on the Labrador West iron ore property and owner of the base metal Strickland Property and the Black Raven gold property, all located in Newfoundland and Labrador, Canada.

Avidian is focused on and committed to the development of advanced stage mineral projects throughout first world mining friendly jurisdictions using industry best practices combined with a strong social license from local communities. Further details on the Corporation and the individual projects, including the NI 43-101 Technical report on the Golden Zone property, can be found on the Corporation’s website at www.avidiangold.com.

Figure 1: Map of Golden Zone Property, Alaska

For further information, please contact:

Steve Roebuck, President
E: [email protected] or +1(905) 741-5458
Email: [email protected]

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 news release.

Forward-looking information

This News Release includes certain “forward-looking statements”. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management’s expectations. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes,” “anticipates,” “expects,” “estimates,” “may,” “could,” “would,” “will,” or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company’s mineral properties, and the Company’s financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company’s forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities law.found on the Corporation’s website at www.avidiangold.com.

SOURCE: Avidian Gold Corp.

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