Latest Drilling in Southern Mali Intercepts More Gold Mineralization Along 15-Km Trend

Provides Key Geological and Structural Roadmap for the Next Stage of Drilling

Toronto, Ontario, January 14, 2020 – Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) is pleased to provide an update on the latest exploration work at the Boumban Central and Farabakoura prospect areas, located on the Company’s Sikasso Property in Southern Mali (Figure 1).

Highlights

  • Drilling at Boumban Central (16 RC holes, 2,404 m) intersected gold mineralization in a similar geological environment to that encountered 5-km south at the Farabakoura artisanal workings
  • Best interval at Boumban Central was 3 m at 1.33 g/t Au, within 10 m @ 0.57 g/t Au (from 31m)
  • Exploration results show the geology of Compass’s Farabakoura Trend is similar to Hummingbird’s Komana East gold mine area, located 40 km to the east
  • Drilling at the Farabakoura artisanal workings intersected a NE-trending structure containing multiple (9) gold zones in one hole (OARC65 included 8 m at 1.17 g/t Au, (from 33 m), 4 m @ 0.81 g/t Au (from 61 m), and 3 m @ 1.54 g/t Au (from 73 m))

Compass CEO, Larry Phillips, said, “Based on these results, we believe the Compass team is onto a major gold-bearing trend, and we are excited to get on with the next stage of drilling.”

He added, “Last year, our exploration work indicated the presence of a structural trend, extending more than 11 km to the north of our Farabakoura mineralized zone. These first drill holes on just a small portion of the 4.3 km Boumban Central target were located roughly 5 km north of the Farabakoura zone.  The interpreted results suggest that the correct geology and structure for potentially hosting significant gold mineralization continues at least 5 km north along this major trend. The assay results on Boumban Central also show wide-spread, lower grade mineralization.

The additional drilling, 5 km to the south, within artisanal workings on the eastern side of the main Farabakoura Zone, also confirmed the presence of additional NE-trending mineralized structures within the overall NNW-trending Farabakoura Trend.  Assay results from this drilling showed that significant mineralization extends to the east of the main Farabakoura zone. What is most exciting is that we have already identified nine large target zones along the Farabakoura Trend, which have yet to be drilled. This latest geological and structural information confirming the location of the Siekorole Shear Zone along our Farabakoura Trend will be invaluable in planning the next phase of drilling over the remainder of the 4.3 km strike length of the Boumban Central target zone, and across the other nine targets identified by our previous exploration work.”

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