Compass Drills 24 M Intercept Grading 2.35 G/T Gold at New Prospect Within the 10-Km Tarabala Trend

Target Structure Present for at Least 2.5 km Along Strike

Toronto, Ontario, March 16, 2021 – Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) is happy to provide an update on the recently completed drilling at the Massala East, Massala West and Tarabala prospects, located on the Company’s Sikasso Property in Southern Mali (Figure 1).

Highlights:

  • The first drilling at the Massala West prospect within our Sankarani property area identifies a wide zone of shallow gold mineralization associated with the Tarabala shear zone
    • Best intercept: 24 m @ 2.35 g/t Au (from 18 m), incl. 1 m @ 26.8 g/t Au (from 35 m).
  • The Massala West mineralized structure remains open along strike and down dip
  • Massala West mineralization is on a 2.5 km structure with a geophysical signature matching Tarabala’s
  • Additional drilling is required to determine controls of mineralization and degree of continuity
  • RC drilling results from Tarabala confirm the down-dip extension of previously identified shallow mineralization
    • Widest interval: 25 m @ 0.58 g/t Au (from 67 m), incl. 15 m @ 0.83 g/t Au (from 75 m)
  • Air core drilling has been completed at two other prospects and is underway on a third prospect

Compass CEO, Larry Phillips, said,“Our discovery team has identified yet another large, promising target, the latest being a wide zone of shallow mineralization with strong gold grades on the Massala West prospect north of Tarabala. Notably, this promising new target, which included an interval of 24 m @ 2.35 g/t Au, was not marked by any outcropping or surficial structure, but was concealed beneath a thick soil cover.  As Massala West lays approximately 2 km along the same structure that hosts our Tarabala prospect, we plan additional drilling to determine whether the structure continues between the two prospects.  This structure also remains open 2 km to the north.”

He added, “Deeper RC drilling from the Tarabala prospect has also confirmed the continuation of wide zones of previously identified mineralization at depth.  Additional deeper drilling is also planned at Tarabala, looking for higher-grade intercepts at depth along the full 1 km strike length of the structure.”

Dr. Sandy Archibald, PGeo, Technical Director, added, “I am delighted with our success at Massala West, a target area identified primarily through ground geophysics. The width of the mineralized zone is similar to Tarabala, 2 km to the south, but the mineralization includes high-grade intercepts such as 1 m at 26.8 g/t Au, which is highly encouraging.  Additional drilling at Massala West will determine how much of the new 2.5 km target zone contains the sort of mineralized widths and grades we’re after.  This drilling will begin immediately upon the completion of the 900-m program we’ve just initiated at Dialéké.” 

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