Resource World Magazine

26 www.resourceworld.com A P R I L / M A Y 2 0 1 6 California gold interseCts 12.9 metres of 6.63 g/t gold California Gold Mining Inc. [CGM- TSXV; CFGMF-OTCQX] released new assay results from its continuing Phase III drill program at its flagship Fremont Project in Mariposa County, California. The 3,351- acre property, located in the Motherlode Gold Belt, hosts several past-producing, underground, gold mines. At present, there are four diamond drill rigs operating on-site. A total of 39 diamond holes and 11,262 metres of drilling have been completed in the current program. Highlights of the drill program included Hole DD-15-038 with 12.9 metres (True Width 77%) grading 6.63 g/t gold, Hole DD-15-036 with 5.2 metres (TW 91%) of 3.72 g/t gold and Hole DD-15-033 with 7.5 metres (TW 86%) of 2.67 g/t gold. Further assay results will be released as they become available. Refer to company press release for compete drill results. The Phase III drill program commenced on September 11, 2015, with the objective of drilling 35 to 40 HQ-sized (2.5-inch- diameter) diamond drill holes totaling 9,144 to 10,668 metres. The main objec- tives of the Phase III drill program include: generation of a maiden resource estimate for the project covering the main Pine Tree-Josephine mineralized zone; test- ing the down-dip extension of the shear zone in the main Pine Tree-Josephine mineralized zone to a depth of up to roughly 1,000 metres below surface; test- ing the mineralization potential of the five recently discovered mineralized zones on surface, namely Golden Chain, Vermont Slab, Golden Slope, Race Track Meadow and Ogle Canyon originally discussed in the company's December 4, 2014, press release. The Phase III holes discussed in this press release are part of the infill drilling segment of the Phase III drill program, focused on providing greater confidence in the geological continuity of the main Pine Tree-Josephine mineralized zone, in order to help generate a maiden resource estimate for the project. The results from all currently analyzed Phase III drill holes show strong correla- tion with the geology documented during the recent Phase I and II diamond, and his- toric RC, drilling campaigns, and geological analysis of the Pine Tree-Josephine deposit. A descriptive overview of the geological setting and the various styles of mineral- ization prevalent at the project is provided in the company's news release November 9, 2015. terraX minerals drills yellowknife City high-grade gold terrax Minerals Inc. [TXR-TSXV; TRXXF-OTC; TX0-FSE] has received assay results from the initial two holes of a four- hole drill program testing quartz vein and replacement-style mineralization at the Mispickel target on its Walsh Lake property of the Yellowknife City gold project, immediately north of Yellowknife, Northwest Territories. The two holes were both drilled on the same section and intersected: • 7.30 m of 23.60 g/t gold, including 4.55 m of 37.29 g/t in the main zone of hole TWL16-002 • 8.60 m of 12.87 g/t gold, including 5.45 m of 18.24 g/t in the main zone of hole TWL16-001 • 11.32 m of 2.14 g/t gold, including 2.10 m of 5.92 g/t in a footwall zone of hole TWL16-001 Drilling at Mispickel totaled 384 metres in four holes on two parallel sections about 50 metres apart. The two holes on each section were designed to hit mineralization approximately 20 to 25 and 40 to 50 metres below surface trenches sampled by Terrax in 2013, which returned chip sampling assays across strike on the sulphide-quartz vein zone of 6.0 m at 7.29 g/t gold. All four holes drilled on the Mispickel target intersected multiple zones of sulphide mineralized veins and replacement-style sulphide mineralization of the host felsic volcanics and sediments. Three of the four holes had visible gold, including drill holes TWL16-001 and TWL16-002. Holes TWL16-001 and 002 intersected strong gold mineralization in the targeted main zone. TWL16-001 intersected a wide and moderately strong gold zone in the footwall zone, but this zone was only weakly developed in TWL16-002. True width of TWL16-001 is approxi- mately 92% of drill intersection widths, and for TWL16-002 it is approximately 66% of drill intersection widths. saturn minerals makes saskatChewan oil disCovery saturn Minerals Inc. [SMI-TSXV; SMK- FSE] has made a new oil discovery in three separate potential pay zones at its 100%- owned 9A-5-44-8W2 well on its Bannock Creek Project located near the town of Hudson Bay, northeast Saskatchewan. The discovery has been made in conjunc- tion with technical teams from North Rim Exploration and Axiom Exploration, both of Saskatoon, Saskatchewan. As previously announced drilling of Drilling at California Gold's Fremont Project, Mariposa County, California. NEW DISCOVERIES

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