Generic Gold Corp. announced that it has identified numerous new gold and volcanic massive sulphide (VMS) targets primarily in the Normét Mine Sequence, the same geological package that hosts the past producing Normétal mine as well as recent high-grade VMS discoveries from neighbouring Amex Exploration and Starr Peak Exploration. Using the same geophysical tools (Versatile Time Domain Electromagnetic ("VTEM"), Induced Polarization ("IP") and Borehole Electromagnetics (BHEM)) combined with data compilation and modelling, Generic has identified targets which bear geological signatures that are similar to recent nearby VMS discoveries.

Generic Gold holds up to 18km of the favorable Normétal Mine Sequence, of which kilometric sections have never been drill tested. In addition, the Company has identified gold targets as well as VMS targets in a splay fault disrupting the main Normétal fault. Nearby historical drilling (from the 1950s) notes favorable characteristics in drill logs, such as quartz veins up to 6ft, that were never previously assayed.

Furthermore, the Company plans to target anomalies from an IP (Induced Polarisation) survey that was conducted in 2019. The Company also wishes to report that anomalous gold, silver, copper and zinc values were reported in multiple holes from Phase 1 of drilling on its Belvais Project, located in the Abitibi Greenstone Belt of Québec, along the Normétal Fault Zone. The Belvais project lies directly south-east of Amex Exploration's Perron Project, which recently announced a new VMS discovery (the QF Zone) along the Normétal Mine Sequence and is also directly east and south-east of Starr Peak's NewMétal Project, which announced high-grade VMS mineralization on their Normetmar target.

Both of these new discoveries occur along the Normétal Fault, which is of particular significance for Generic Gold, as the Company holds over 18 km of the Normétal Fault on its Belvais claims and is one of the land holders in the area, with 12,563 hectares. A BHEM survey was conducted on 10 of the 13 holes drilled during Phase 1. From these surveys, 14 anomalies were detected (5 in-hole, 3 edge and 6 off-hole). The 6 off-hole are anomalies of particular interest and importance, as they are 6 new EM plates not previously detected by the property wide VTEM survey.

The VTEM survey was flown at an average altitude of 78m above surface and is therefore limited in detecting anomalies deep below the surface. Seeing that the BHEM tool penetrates drilled holes, it does not have this topographical limitation. The new EM plates have been modelled and will be selectively chosen for follow-up drilling in Phase 2 at Belvais.

The Company will also look to target 4 IP anomalies obtained from data received from a survey that was conducted in 2019. The anomalies lie to the south-west of the town of Normétal and sit directly beside the road 9e Rang, which leads to the town of Saint Lambert. This is advantageous and will allow for easy access and inexpensive exploration.

One anomaly also shows a sharp drop in resistivity, which is an indication of sulphides more massive in nature, while the other three anomalies may be associated with disseminated sulphide mineralisation. A further 4,000 to 4,500 metres of diamond drilling is planned for Phase 2 of the program on Belvais. Drilling is set to recommence over the coming months.