Ground Geophysics Identifies Potential Structures Under Ouassada Artisanal Workings

Additional Drilling Planned to Determine Extent of Zone

Toronto, Ontario, March 26, 2019 – Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) is pleased to provide an update on the results of detailed ground geophysics performed on the Ouassada exploration permit on its Sikasso Property in Southern Mali.

Highlights

  • 1,600 m long target structure has been identified by ground geophysics underlying three artisanal working areas at Farabakoura
  • Structure corresponds to gold mineralization identified in five bedrock drill holes
  • Additional structures also identified in Farabakoura area
  • Planning is underway for additional 1,000 m drill program around Farabakoura, and ground geophysical survey has started over coincident geophysical and geochemical targets on Ouassada and Faraba-Coura permits.

 

Compass CEO, Larry Phillips, said, “Our recently completed ground geophysical surveys identified structures in the bedrock that correlated well with known zones of gold mineralization revealed from recent drilling, providing the latest support for our exploration efforts in this area. Next, we plan to initiate bedrock drilling as soon as possible to determine whether the structure is mineralized for the entire 1,600 m length that our ground geophysics has indicated the zone could extend.”

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New Artisanal Workings Identified on Yanfolia South Block

Toronto, Ontario, March 19, 2019 – Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) is pleased to provide an update on the progress of prospecting conducted on four exploration permits comprising the newly created Yanfolila South block on its Sikasso Property in Southern Mali.

Highlights

  • Fourteen artisanal workings were identified on the Yanfolila South block permits
  • Four workings are coincident with targets previously identified from shallow soil geochemistry and remote sensing studies
  • Field teams have been dispatched to systematically collect material from the workings to help define an expedited bedrock drilling program
  • Also, initial orientation induced polarization (IP) geophysics survey has been completed at Farabakoura; awaiting review by our consultant geophysicist

 

Compass CEO, Larry Phillips, observed, “We are continuing to find new evidence of the prospectivity of our large and relatively underexplored Sikasso permit area. Most recently, our prospecting team has identified fourteen artisanal gold workings at our Yanfolila South block, including some in which, using heavy excavation equipment, artisanal miners have reportedly recovered up to 20 kilograms of gold in recent months. We are now conducting a geochemical sampling program at the most prospective of these sites with the intention of identifying our newest drilling targets to locate the bedrock source of gold mineralization during the next phase of our robust exploration program.”

Technical Director, Dr. Sandy Archibald, added, “The discovery of new artisanal workings on the Yanfolila South block is welcome, as it vindicates our initial view on the mineral potential of this block. However, our immediate focus remains on our northern permits* where we have identified wide zones of bedrock gold mineralization through drilling at Farabakoura. An extensive IP survey is about to begin, which we hope will identify additional drilling targets.”

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Drilling Intercepts Bedrock Gold Zones 380 M Apart Under Artisanal Workings, Ouassada – Additional Work Planned to Determine Zone’s Full Extent

Toronto, Ontario, March 5, 2019 – Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) is pleased to provide an update on the progress of the exploration drilling on the Ouassada exploration permit on its Sikasso Property in Southern Mali.

Highlights

  • Three new reverse circulation (RC) drill holes totalling 406 meters (m) were completed on the Farabakoura artisanal workings
  • Gold mineralization identified in all three holes
  • Bedrock gold zones identified 380 m along strike from previous drilling
  • Best intercept was 13 m @ 3.40 grams per tonne (g/t) gold within a broad zone of gold mineralization of consisting of 60 m @ 1.42 g/t Au

Compass CEO, Larry Phillips, said, “I am excited to report that our most recent drilling at the Farabakoura artisanal gold workings has revealed a broad mineralized zone containing two distinct zones in the northwest and three more along the targeted mineralized trend to the southeast. As a result, we are planning more drilling to help determine the extents of continuity and additional strike length of the system. Further, our current field geophysics program on the Ouassada permit will help refine our bedrock drilling targets.”

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Renewal of Permits and Demarcation of New Boundaries

Toronto, Ontario, February 20, 2019 – Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) is pleased to provide an update on the renewal of the permits that comprise its Sikasso Property in Southern Mali.

Highlights

  • Mali Ministry of Mines and Petroleoum has accepted the new permit boundaries and areas that comprise the Sikasso Property

 

  • The five original permits have now been increased to nine new permits with a maximum area of 100 square kilometres (sq. km)
  • Permits are now in good standing until the next renewal date in 2021

 

Compass CEO, Larry Phillips, commented, “With the official approval of the new permit boundaries and renewal to 2021 we are further reducing our costs while continuing to focus in on the most promising target areas. We have not relinquished any ground that we feel has technical merit. Our exploration program is continuing, and we hope to announce the results of our recent drilling on Ouassada shortly.”

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Follow-Up Drilling Completed at Ouassada

Toronto, Ontario, February 14, 2019 – Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) is pleased to provide an update on the progress of the second phase of bedrock drilling on the Ouassada exploration permit on its Sikasso Property in Southern Mali.

Highlights

  • One diamond and three reverse circulation (RC) drill holes totalling 607 meters (m) have been completed on the Farabakoura artisanal workings

 

  • Drilling has intersected a mineralized structure identified by previous RC drilling in December 2018
  • Assays are pending, and information from the drilling will be used to further aid in modelling a comprehensive ground IP survey scheduled to start next week to cover 14 untested targets on Ouassada

Compass CEO, Larry Phillips, commented, “I’m pleased to report that our follow-up drilling at Ouassada has been completed and we’re awaiting the assay results. In the meantime, we will start our ground induced polarization (IP) survey over the fourteen, previously identified targets. The results of this second phase of ground IP will be used to help focus additional bedrock drilling in late Q1 and early Q2.”

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Drilling Success at First Ouassada Bedrock Targets

Toronto, Ontario, January 10, 2019 – Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) is pleased to provide an update on the first-ever bedrock drilling on the Ouassada exploration permit on its Sikasso Property in Southern Mali.

Highlights

  • All 8 reverse-circulation (RC) holes completed over the first 5 of 14 prospective targets on Ouassada permit intercepted gold mineralization, including 13 metres (m) @ 1.97 grams per tonne (g/t) gold (Au) (from 51 m) and 16 m @ 1.47 g/t Au (from 96 m) in a single bedrock hole
  • Longest mineralized intervals were 46 m @ 0.65 g/t Au (from 18 m) and 27 m @ 0.92 g/t Au (from 96 m) from OURC005 (Ouassada RC hole 5)
  • Thirty-eight one-metre sample intervals contained more than 1 g/t Au, and fifteen contained more than 3 g/t Au, with the highest being 11.8 g/t Au
  • Funded and preparing for the next round of exploration in Q1-2019 to include ground geophysics and diamond drilling

Compass CEO, Larry Phillips, commented, “We are pleased with the results from our initial bedrock drilling program on the Ouassada permit, not only because all RC drill holes intersected gold mineralization in bedrock but also because we have identified two, wide mineralized gold zones in holes OURC004 and OURC005.  Without doubt, this provides us with confidence that we are on the right exploration track. We are already funded and preparing for the next phase of work at Ouassada in the coming weeks and months, including additional ground geophysics and bedrock drilling.”

Technical Director, Dr. Sandy Archibald, PGeo, added, “The drilling results are highly encouraging since they have given us extremely valuable information on the geology, structure and, most importantly, the style of gold mineralization at Ouassada.  We will apply this knowledge to the remaining nine exploration targets on the permit, and additional targets identified on the adjacent Sankarani permit. Meanwhile, we are laying out a 500-m diamond drilling program at our Farabakoura and Kabangoué targets on Ouassada to generate additional geological information on the mineralization in aid of our continued examination of the numerous targets that we have identified thus far.”

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Compass Gold Corporation Appoints INFOR Financial Inc. for Market Maker Services

TORONTO, Oct. 12, 2018 – Compass Gold Corporation. (TSX-V: CVB) (“Compass”) is pleased to announce that it has retained INFOR Financial Inc. (INFOR Financial) to provide market making services on the TSX Venture Exchange (the “TSX-V”), in compliance with the policies and guidelines of the exchange.

INFOR Financial will trade the securities of Compass Gold on the TSX-V for the purpose of maintaining an orderly market and to provide liquidity of Compass’ common shares. Compass Gold will pay INFOR Financial $5,000 per month for a minimum term of three months renewable every month thereafter.  Each party will have an option to cancel upon thirty days’ prior notice. There are no performance factors contained in the agreement and INFOR Financial will not receive shares or options as compensation. INFOR Financial and Compass Gold are unrelated and unaffiliated entities, but INFOR Financial and/or its clients may have an interest, directly or indirectly, in the securities of Compass.

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SOIL GEOCHEMICAL SURVEY IDENTIFIES NUMEROUS GOLD ANOMALIES COINCIDENT WITH CRUSTAL-SCALE FAULTS ON KOUROU PERMIT

Toronto, Ontario, October 9, 2018 – Compass Gold Corp. (TSX-V:CVB) (Compass or the Company) is pleased to provide an update on the now completed priority shallow soil geochemical survey program over the Kourou and Tiélouléna exploration permits on its Sikasso Property in Southern Mali.

Highlights

  • Twelve discrete gold anomalies were identified on Kourou permit along strike lengths up to 5 km
  • Highest soil sample contained 1.38 grams per tonne (g/t) gold (Au)
  • Fourteen soil samples contained more than 0.1 g/t Au (100 ppb)
  • A total of 4,597 shallow soil samples were collected on the Kourou and Tiélouléna permits, where 689 shallow soil samples returned above the 5 parts per billion (ppb) limit of detection
  • Mineralization is coincident with deep linear structures, interpreted as faults, from a remote sensing study

 Compass CEO, Larry Phillips, commented, “We are pleased to report the results from our initial shallow soil program on Kourou, where we have identified twelve linear anomalies over the length of the permit.  Most of the anomalies correspond with interpreted faults.  This includes a 2-km anomaly associated with artisanal workings that contained up to 5.04 g/t gold from grab samples.  Again, these initial results give us confidence that we are following the right exploration plan in an area that has been shown to contain several, rich gold mines. Meanwhile, we are anxious to continue our work on these two permits once the rains abate. At the same time, we will be initiating the first bedrock drilling program on our Ouassada permit targets, which are located approximately 50 km northwest of Kourou and Tiélouléna.”

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DRILLING CONTRACT SIGNED IN PREPARATION FOR TESTING THE FIRST OF 14 BEDROCK GOLD TARGETS

Toronto, Ontario, September 27, 2018 – Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) is pleased to announce that it has engaged a drilling contractor in preparation for the Company’s initial 3,500 m bedrock-drilling program on the Ouassada permit on its Sikasso Property in Southern Mali.

Highlights

  • Signed drilling contact with Target Drilling SARL for the provision of 2,500 m of air core (AC) drilling and 1,000 m of reverse circulation (RC) drilling
  • Drilling represents the first ever bedrock drilling on the 1,179 sq. km Sikasso Property
  • Initial drilling will focus on four zones on the Ouassada permit considered to be priority areas, and which contain active artisanal gold mining
  • A total of 14 drilling targets were identified on the permit using a combination of geochemistry, geophysics, remote sensing and geological mapping
  • The drilling targets average 1.2 km in length, and the expected depth to fresh bedrock is approximately 50 m

Compass CEO, Larry Phillips, commented, “I am excited at the prospect of drill testing the first of the bedrock drill targets at Ouassada that our technical team has worked diligently to select. Target Drilling has a good reputation and track record in Mali, and we eagerly anticipate seeing their drill rigs starting as soon as ground conditions permit. Artisanal miners have been finding gold in the bedrock on the Sikasso Property for at least fifteen years, but this will be the first time anyone has drill-tested it.”

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COMPASS GOLD IDENTIFIES DISCRETE GOLD IN SOIL ANOMALIES COINCIDENT WITH CRUSTAL-SCALE FAULTS ON KALÉ PERMIT

Toronto, Ontario, September 17, 2018 – Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) is pleased to provide an update on the initial results from the completed shallow soil geochemical survey program over the Kalé exploration permit on its Sikasso Property in Southern Mali.
Highlights
● Four discrete anomalous gold zones were identified over a distance of 15 km on the Kalé permit
● Highest soil sample contained 127 parts per billion (ppb) gold (Au) over a permit with no known outcrops
● Gold anomalism is coincident with deep linear structures, interpreted as faults, identified in the recently completed remote sensing and geophysics studies
● 1,746 samples were collected and analyzed on the areas considered the most prospective for gold mineralization

Compass CEO, Larry Phillips, commented, “These latest shallow soil assay results from the Kalé permit provide us with more evidence of the mounting potential across much of our Sikasso property. Our focused soil sampling study over Kalé has identified four areas over a distance of 14 km that require follow-up geochemistry. Importantly, our remote sensing and geophysical studies suggest these anomalies are located on the fault zone associated with at least two other known gold deposits. When field operations begin after the rains, these will be four more areas where we look forward to conducting additional work.”

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