SASKATOON, Saskatchewan, July  28, 2021  (GLOBE NEWSWIRE) -- 1844 RESOURCES INC. (TSX-V:EFF) (the “Company” or “1844”) announces that its 2021 drilling campaign on the Lac Arsenault Gold Project has significantly increased the geological underdstanding of the mineralization and the geological context of the area. The campaign which was located in the central part of the property and on 2 known gold corridors (see Figure 1).

Fact:

The gold mineralized zones develop along discontinuous deformation corridors, faulted and NNE-trending;Deformation corridors are composed of brittle-ductile shear zones, accompanied by tectonic breccia, shear veins, veins folded in tension and zones in stockwork;Ground geophysics, IP survey, allow the deformation corridors to be well targeted and support the interpretation of the lateral displacements of the NW-SE Riedel-type faults;More than 20 lineaments or faults interpreted as possible NNE deformation corridors are identified via the high-resolution magnetic survey.

Sylvain Laberge, President and CEO of 1844 comments “We are very pleased with the results on this initial drilling program at Lac Arsenault. The basic data collected through the various exploration techniques around the known Lac Arsenault showings combined with recent drilling give another dimension and understanding to the project. With as many as 20 additional north by northeast lineaments yet to be explored, we are excited to continue developing this asset on the Gaspe Peninsula "

Drilling has intersected gold-silver-lead-zinc (“Au-Ag-Pb-Zn”) mineralized zones in holes LA-21-01, LA-21-02. LA-21-03 and LA-21-08. A total of eleven (11) holes totaling 1952 meters were completed during the campaign. All analytical results from the 408 samples sent to the LA-21-01 through LA-21-11 laboratory have all been received.

Table 1: Best survey results (Figure 2 Section view 2021 drilling).

Nº
drilling From
 (m)*To
(m)*Length
(m) *Nº
SampleAg
(ppm) Pb
(ppm)Zn
(ppm)Au-
ICP22
(g/t)Host
rockStructureType
VeineLA-21-0130.931.50.6X3401530.3215.7450.43*2Tectonic brecciaT3LA-21-02106.0106.20.2X3401700.4448900.1*4Shear LA-21-02107.2107.30.1X34017213.652140925.84*4ShearT1LA-21-02107.3108.00.7X3401740.7119.2920.13*4 LA-21-02111.5111.80.27X3401771.031460391.19*1 T3LA-21-02123.9124.20.25X3401811.1113382.92*4 T3LA-21-02124.2124.50.35X3401820.2312690.1*2Tectonic breccia LA-21-0334.434.70.3X3401888.91514030103.23*3Shear LA-21-0334.735.81.1X3401902.6317544102.23*3 T2LA-21-0394.094.10.1X3402020.2612.3640.11*3Tectonic breccia LA-21-08138.9139.10.17X3404421.3939732.02*3ShearT1

*:Intervals reported in core length*1:Sandstone*2:Sandstone interbedded with mudrock*3:Sandstone interbedded with siltstone*4:Mudrock

Table 2: Coordinates of drill holes LA-21-01 to LA-21-11

Nº
drillingEasting*Northing*AzimutDipLength
(m)LA-21-013345935360864116-4678LA-21-023345515360887118-46150LA-21-033345525360794125-45123LA-21-043345085360837129-44143LA-21-053348185360906300-4596LA-21-063348235360676126-45165LA-21-073347775360709126-45252LA-21-083348405360896310-65261LA-21-093347825360541304-45138LA-21-103353805360773300-52225LA-21-113353985360771308-66321  *NAD83Zone20 Total1952 m

Several structures intersected in drilling have demonstrated strong potential for the presence of gold mineralization. Large pluri-metric corridors showing significant shears accompanied by tectonic breccias, all in the presence of distinct generation of veins and venules in shear structure, tension and stockwork were sampled and were all accompanied by sulphide percentages varying from trace to 15% consisting mainly of pyrite which was disseminated and in small clusters within the fractured sedimentary units and on the shear planes. (link: Figure 3 Drilling 2021_List of drill core samples analyzed in association with the observed structure).

Quality control

The supervision of drilling work and the interpretation of results are carried out by qualified persons applying a quality assurance and quality control program in accordance with best industry practices, including the use of standards, duplicates and blanks for every 10 samples. Project rock samples are analyzed for gold by standard fire assay on a 50 gram fraction with inductively coupled plasma atomic emission spectroscopy (ICP-AES; Au-ICP22) or gravimetric finish (Au- GRA22) at ALS Minerals laboratories in Vancouver, British Columbia.

All samples are also analyzed for several elements by the very low grade assessment method using ICP-MS and ICP-AES (ME-MS41) at ALS Minerals laboratories in Vancouver, BC and / or Val-d 'Gold in Quebec. Samples with a silver, copper, zinc or lead content exceeding 1% are reanalyzed by the ICP-AES method with four acids optimized for high contents.

About 1844 Resources Inc.: 1844 is an exploration company with a focus in strategic and energetic metals and underexplored regions “Gaspé, Chibougamau Québec”. With a dedicated management team, the Company’s goal is to create shareholder value through the discovery of new deposits.

Bernard-Olivier Martel, P. Geo, the Company's Director of Exploration, is a qualified person (as such term is defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects) and has reviewed and approved the technical disclosure contained in this news release.

1844 RESOURCES INC.

(signed) “Sylvain Laberge”

Sylvain Laberge
President and CEO
514.702.9841
Slaberge@1844 resources.com

FORWARD LOOKING INFORMATION

Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.