Bathurst Metal Corp. announced the Company has received final assay results from the summer 2023 field exploration work on the copper/silver/gold/cobalt 100% owned, Gela Lake property in central Nunavut. The work focused on geological mapping and rock and soil sampling along the Bathurst Fault to test for the extension of mineralization underneath cover to the west of a large Monzogabbro intrusive where the monzogabbro contacts Archean metasediments and volcanics.

The Gela Lake property is located in a well-established mining area with significant producers and lies in proximity to its drill ready Turner Lake property. Highlights: 10 rock grab samples were collected mainly from quartz+/- carbonate, bearing, sub- vertical structures with widths in excess of 4 metres in some areas and trending over 300 metres. Visible copper mineralization in the form of chalcopyrite and minor bornite was noted in most samples with rare cobalt blooms. Significant gold concentrations were also obtained in some samples with a moderate correlation to silver.

High bismuth concentrations also show a positive correlation with copper and silver. 80 soil samples were collected along the eastern flank of the Monzogabbro intrusive body where the regional Bathurst Fault is projected to occur. The soil samples were collected at 25 meter intervals and at various depths based on the soil profiles.

Soil sample assay results confirmed the soil profiles can be used to determine areas of interest, as outcrop is limited away from the intrusive body and along the projected Bathurst Fault trend. The occurrence of Au + Bi together often indicates a structurally controlled setting and implicates the Bathurst Fault as a possible conduit and possible trap for mineralized fluids to migrate to the surface. Along with gold and bismuth, notable concentrations of copper were also found in both soils and rock samples.

Additionally, higher concentrations of cobalt were also noted in two rock samples and were also coincident with elevated gold and silver concentrations. The mineralized trend can be traced for over 2km in a north-south direction directly overlying the surface trace of the Bathurst Fault. The soil sampling found coincident gold/silver/copper/bismuth mineralization.