2022-08-17 | CSE: RMES | Press release

Vancouver, British Columbia–(Newsfile Corp. – Aug. 17, 2022) – Red Metal Resources Ltd. (CSE: RMES) (OTC Pink: RMESF) (the “Company” or “Red Metal”) is pleased to announce the results of the 2022 geological mapping program on its Carrizal property, Region III, Chile.

The 2022 mapping and prospecting program focused on detailed vein mapping along strike and to the east of the main Farellon structure with the goal of developing new drill targets. New veins mapped and sampled include the Gorda vein which was drilled in hole FAR-22-020. The Gorda vein lies 250 meters east of the Farellon structure which has been mapped and laterally sampled for a full kilometer. Five other veins have been mapped and sampled in detail to develop future drill targets throughout the property.

Strong points

  • A high sample return of 5.77% Cu, 1.55% Co and 0.11 g/t Au two kilometers along strike north of recent drilling on the Farellon structure
  • Three veins mapped in detail, each demonstrating over a kilometer of prospective length with mineralized grab samples

Table 1: Snapshot Highlights(1)(2)

Sample number North UTM UTM easting Altitude (asl) Sample weight (Kg) August/t Co% Cu%
500818 6888943 309490 553 1.54 1.74 0.047 6.26
500902 6891077 310916 632 1.63 0.11 1.545 5.77
500832 6889540 311547 540 1.82 0.22 0.021 5.66
500895 6890377 310310 631 1.58 0.63 0.146 5.18
500887 6889724 311958 495 0.94 0.32 0.063 5.06
500803 6889197 309735 561 2.21 0.04 0.019 4.89
500822 6888323 309800 647 1.96 3.43 0.015 4.59
500830 6889441 311412 524 1.71 0.67 0.027 4.11
500827 6888543 310082 618 1.71 4.91 0.094 3.70
500894 6890373 310305 631 0.45 0.13 0.028 3.41
500844 6888968 310724 496 1.48 0.27 0.024 3.37
500854 6889477 310518 582 1.05 3.28 0.160 3.16
500837 6889267 311117 527 0.67 1.97 0.029 3.03
500814 6889114 309667 587 1.51 0.19 0.057 2.79
500858 6889836 310979 582 2.46 2.06 0.002 2.70
500834 6889309 312021 472 1.52 0.45 0.054 2.64
500824 6888423 309869 621 1.32 0.74 0.136 2.61
500833 6890107 311855 522 1.12 0.21 0.071 2.52
500820 6888717 309359 592 3.64 0.45 0.036 2.50
500831 6889472 311475 533 1.91 0.02 0.015 2.39
500859 6889807 310888 564 1.14 0.17 0.019 2.11
500840 6888767 310417 546 1.07 0.81 0.018 2.06
500850 6888284 310247 572 1.5 1.57 0.029 1.90
500816 6889020 309583 594 3.62 0.38 0.020 1.88
500868 6890705 311339 574 1.43 0.09 0.085 1.77
500886 6889679 312500 457 0.93 0.22 0.002 1.76
500806 6889420 309857 575 1.3 0.09 0.036 1.69
500819 6888717 309359 592 2.64 0.47 0.048 1.54
500855 6889630 310681 596 1.19 0.87 0.025 1.54
500852 6889527 310785 561 1.86 0.24 0.193 1.21
500829 6889352 311252 539 3.43 0.65 0.073 1.20
500856 6889748 310735 570 2.31 0.22 0.024 1.15
500835 6889244 311891 496 3.24 1.54 0.001 0.94
500838 6889227 311054 548 1.26 1.89 0.019 0.88
500892 6889011 312361 435 0.8 0.01 0.033 0.86
500826 6888696 310059 627 1.75 1.79 0.003 0.84
500801 6889269 309795 596 1.96 0.09 0.121 0.82
500823 6888344 309815 637 2.74 0.22 0.006 0.75
500853 6889444 310665 578 2.95 0.43 0.026 0.66
500802 6889233 309758 580 1.67 0.04 0.062 0.55
500825 6888485 309930 617 1.02 2.20 0.030 0.50


(1)Management cautions that prospecting for surface rock samples and associated assays, as discussed here, are selective in nature and represent a point location, and therefore are not necessarily fully representative of the mineralized horizon sampled.

(2)This table represents a selection of highlights including 41 samples out of 102 samples taken

Figure 1: Surface mapping and prospecting sample results

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/4932/134048_b7c5045794a92abe_001full.jpg

CuEq% based on CuEq%= ((Cu lb/t*US$3.75.lb) +(Co lbs/t*US$20/lb) +(Au g/t*0.03215*US$1,850/oz)/US$3.75/lb Cu value in situ and does not take into account metallurgical, refining or other losses

Caitlin Jeffs, President and CEO comments, “We are excited to see so many new potential drill targets near the Farellon structure.

QAQC

Samples are prepared and analyzed by ALS laboratories in La Serena, Chile and Lima, Peru. Samples are assayed for gold using Fire Assay-AA techniques. All samples are analyzed using a 33 element 4 acid digestion ICP analysis method and copper samples above 10,000 ppm are again analyzed only for copper using the same ICP analysis method. to analyse.

Qualified person

The technical information contained in this press release has been reviewed and verified by Caitlin Jeffs, P. Geo., President and Chief Executive Officer of the Company and the Qualified Person as defined by National Instrument 43-101.

About Red Metal Resources Ltd.

Red Metal Resources is a mining exploration company focused on growth through the acquisition, exploration and development of copper-cobalt-gold assets in Chile. The Company’s projects are located in the prolific iron oxide copper-gold Candelaria (IOCG) belt of Chile’s Coastal Cordillera. Red Metal is listed on the CSE under the symbol RMES and on the alternative trading system OTC Link on the OTC Pink market under the symbol RMESF.

Forward-looking statements

All statements contained in this press release, other than statements of historical facts, are “forward-looking information” within the meaning of applicable securities laws, including, without limitation, statements relating to the description of his exploration plans. Red Metal provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, such information is subject to inherent risks and uncertainties which may be general or specific and which give rise to the possibility that the expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that the assumptions correct and that the objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include, but are not limited to, discoveries, exploration results and recommendations, the ability to raise adequate financing, the receipt of required approvals, and the unprecedented market and economic risks associated with current unprecedented market and economic circumstances, as well as identified risks and uncertainties. and reported in Red Metal’s public filings under its SEDAR profile at www.sedar.com. Although Red Metal has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking information, there may be other factors that cause actual actions, events or results are not those intended, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Red Metal disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

CSE has not approved or disapproved of the contents of this press release or passed on the merits of any of the transactions described herein.

Neither the CSE nor its Regulation Services Providers (as that term is defined in the CSE policies) accepts responsibility for the adequacy or accuracy of this release.

For more information, visit www.redmetalresources.com

Contact:

Red Metal Resources Ltd.

Caitlin Jeffs, P.Geo, CEO

1-866-907-5403

invest@redmetalresources.com

www.redmetalresources.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/134048

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