High-Grade Gold Intercepted at Boumban Central Prospect on the Farabakoura Trend, Including 4 M @ 14.93 G/T Au

Drilling to Begin on Four New Targets

Toronto, Ontario, February 24, 2020 – Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) is pleased to provide an update on the latest exploration drilling at the Boumban South and Boumban Central prospects, located on the Company’s Sikasso Property in Southern Mali (Figure 1).

Highlights

  • Additional drilling at Boumban Central (3 RC holes, 640 m) identified high-grade gold mineralization adjacent to the Siekorole Fault and coincident with a strong shallow soil anomaly
  • Best interval was 1 m @ 50.56 grams per tonne (g/t) gold (Au), within 4 m @ 14.93 g/t Au (from 63 m)
  • Drilling at Boumban South (5 RC holes, 781 m) intersected several zones of mineralization, including 8 m @ 0.67 g/t Au (from 21 m)
  • A 2,000-m air core drill program has commenced on four target areas on the Sankarani and Kourou permits

Compass CEO, Larry Phillips, said, “As drilling is about to start on our high-priority targets at Sankarani and Kourou, we continue to receive encouraging results on our Farabakoura Trend prospects.  Based on the early-December drill results from Boumban Central, we drilled three additional holes to extend one of our fences.  This led to the discovery of a high-grade gold intercept, which supports our interpretation that the Siekeroli Fault is a controlling feature in the permit area.

Our aim continues to be the drill testing of the principal targets along the length of the 15 km long Farabakoura Trend, where we continue to find pockets of strong gold mineralization. We have several more untested targets that need to be drilled.

I am also excited about the pending start of drilling on the Sankarani permit, located immediately to the east of our current drilling.  This will be the first ever drilling on this set of targets that lie on a 40-km-long north-northeast trend of artisanal gold workings and geochemical gold anomalism associated with a crustal-scale fault. We eagerly await the assay results of this promising area.”

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