Avidian Gold Corp. announced that it has secured a reverse-circulation "RC" drill rig to test the fully permitted and bonded Jungo Gold-Copper Project. The property is situated on the east flank of the southern part of the Jackson Mountains located in Humboldt County, Nevada, approximately 65 km northwest of the city of Winnemucca.

The property consists of 234 unpatented Federal lode mining claims, which cover an area of 1,959 hectares and lie between the Hycroft Mine (~15.3 Moz M&I AuEq) to the southwest and the Sleeper Deposit (~3.1 Moz M&I Au) to the northeast. The upcoming drill program is scheduled to commence in early to mid May 2022 and will consist of up to eight (8) RC drill holes. Two separate targets (the north and south areas) occur within a +5 km-long, N25°E-trending mineralized shear zone (Shawnee Structural Zone) associated with a Jurassic intrusion-related gold-copper system will be tested during this program.

In the main north area, six (6) step-out holes will target the down-dip extensions of gold-bearing, siliceous gossan zones previously sampled by surface rock chip, trenching, or intersected in historic drill holes. Interpretation of reprocessed historical gradient array induced polarization resistivity data confirms a strong northeast-trending zone chargeability and resistivity zone that will also be tested during the upcoming program. Two drill holes are planned in the South area will target the down-dip extension of NE-trending, siliceous, gold-bearing gossan zones.

Surface rock chip sampling in this area returned an average of 0.30 g/t Au across 80 m of this untested zone. The Jungo property is underlain by northeast-striking metavolcanic and metasedimentary rocks of the Late Triassic to Early Jurassic Boulder Creek beds. These beds have been intruded by extensive bodies of Jurassic diorite, as well as smaller plugs and dikes of Jurassic gabbro.

Tuffaceous volcaniclastic rocks, rhyolite, and basalt flows of probable Miocene age unconformably overlie the Boulder Creek beds. Lithologic, alteration and mineralization data that have been developed on the Jungo property provide support for the deposit being an intrusion-related gold-copper deposit. The causative intrusions and the host rocks are part of a Jurassic-age, island-arc magmatic zone that was accreted onto the north American plate.

Similar style, intrusion-related gold-copper deposits have been documented in a belt of Jurassic rocks reaching from the Pumpkin Hollow mine and the Yerington porphyry copper district in Nevada, through British Columbia and the Yukon Territory to the Tintina Gold Belt in Alaska. Historical drilling totaling 26 holes drilled during the 1990s by various companies intersected pervasive illite/sericite-pyrite alteration within the Boulder Creek beds along with values of up to 1.29 g/t Au over 12.2 meters in hole SH-5. Altered diorite porphyry was also encountered in multiple drill holes. Over 1,200 surface rock chip and trench samples have been collected over the entire property showing gold values up to 37 g/t Au, 818 g/t Ag, 7% Cu along with anomalous As and Sb values.

Additional information about the Jungo Project can be sourced in a recently updated technical report located on SEDAR titled Technical Report for the Jungo Gold-Copper Project, Humboldt County, NV, U.S. A or in Avidian's news release dated March 17, 2022. The Company is also pleased to announce that it is at the planning stage for its Alaska projects, details will be released as soon as possible.