Diamond Drilling at Farabakoura Intersects High-Grade Gold Mineralization

Additional Drilling Planned to Determine Extent of Zone

 Toronto, Ontario, March 28, 2019 – Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) is pleased to provide an update on the results of the one diamond drill hole completed on extensive artisanal workings at the Ouassada exploration permit on its Sikasso Property in Southern Mali.

Highlights

  • Identified three discrete mineralized zones within an 18 m-wide interval
  • 4 m @ 83.82 g/t Au (from 63 m)
  • 4 m @ 7.04 g/t Au (from 69 m)
  • 3 m @ 4.18 g/t Au (from 78 m)
  • 1 m interval (with a 45 cm true thickness vein) contained 329.92 grams per tonne gold (g/t Au)
  • Mineralization correlated well with adjacent reverse circulation (RC) drill holes and a 1,600 m target structure identified during recent ground geophysics
  • 1,000 m drill program planned at Farabakoura to test additional structures

Compass CEO, Larry Phillips, said, “The results from our first diamond drilling thus far at Farabakoura are exceptional. While the 330 g/t Au (10.6 troy ounces per tonne) interval reflects the nuggety nature of the gold, it is important to note that the three mineralized structures around it correlated with what we found in the adjacent RC holes drilled in December. Looking at the larger picture, we also see that the mineralization drilled to date at Farabakoura is coincident with structures identified from our ground geophysical surveys. We’re looking forward to starting to further drill test these trends soon, which are up to 1,600 m in length, to determine the full extent of the mineralization in this highly prospective portion of our permits.”

Diamond Drilling (Farabakoura)

As previously announced (see Compass news releases dated January 10 and February 14, 2019), a single 201 m inclined diamond drill hole, OUDD001, was drilled in early January 2019 beneath the artisanal gold working at Farabakoura, Ouassada permit. The purpose of the hole was to provide information on rock types, structure and the nature of mineralization encountered in two adjacent, 10 m away, reverse circulation (RC) drill holes (OURC004 and OURC005). OURC004 contained a 37-m mineralized zone with 0.87 grams per tonne gold (g/t Au), which included intervals of 10 m @ 2.25 g/t Au (from 29 m), and 9 m @ 0.84 g/t Au (from 59 m). OURC005 contained two broad mineralized zones. The first zone was a 46-m mineralized zone with 0.66 g/t Au (from 18 m), which included intervals of 6 m @ 0.53 g/t Au (from 18 m), and 13 m @ 1.97 g/t Au (from 51 m). The second zone was 27 m @ 0.92 g/t Au (from 96 m), which included 16 m @ 1.47 g/t Au (from 96 m).

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