K9 Gold Corp. announced that the 2022 diamond drill program has been completed at the Jumper's Pond zone on its high prospective StonyLake project in central Newfoundland. Partial analytical results have been received and are currently being compiled and incorporated into the project data base.

On receipt of the analytical results, 3D modelling of the gold concentrations for the 2022 drilling program is planned. The 2022 drill program, consisting of eight diamond drill holes totaling 2,919 metres, was designed to follow up the gold mineralization encountered in hole JP21-022 that intersected a weighted average of 0.61g/t gold over a core interval of 127.4 metre. Geological and geotechnical logging of the drill core has been completed.

Geological descriptions of the drill core indicate that the drilling continues to intersect extensive zones of shearing and brecciation, comparable to the mineralized structures encountered in the 2021 program. JP21-022 intersected a 127.4-meter zone of continuous gold mineralization averaging 0.61 g/t Au, from 97.00 to 224.40 m downhole, including 65.1m of 0.78 g/t and 5.70m of 2.37 g/t. The mineralized structure intersected in JP21-012 was extended approximately 100m along strike to the north, The mineralization is interpreted to occur along the axis of an anticlinal structure, in the footwall of a major fault zone and remains open along strike and at depth, Higher grade samples include 5.09 g/t over 0.30m and 5.58g/t over 0.50m in JP21-022 and 4.48g/t over 0.30m in JP21-019,The mineralization intersected in earlier drilling programs and the mineralized structures exhibit a strong spatial correlation to a positive chargeability anomaly that has a strike length of at least 3000 meters. The Stony Lake property lies within the Exploits Subzone Gold Belt of the Cape Ray/Valentine Lake structural trend in Central Newfoundland, lying parallel to that of New Found Gold's Queensway project, along the prolific Dog Bay Line.

The project covers 13,625 ha and 27 kilometers of favorable trend between Sokomon's Moosehead discovery immediately to the northeast and Marathon's Valentine Lake deposit to the southwest. Excellent infrastructure exists on the project lands and in the surrounding area. At Stony Lake, ground prospecting and sampling has led to the identification of seven broad areas of highly anomalous to low grade (up to 4.0 g/t Au) to high grade (>4.0 g/t Au) gold mineralization.

Following up on the prospecting work, systematic exploration with property-wide airborne geophysical and extensive soil sampling, plus two large grids of IP ground geophysical survey, has led to the interpretation of about 100 anomalies, at least ten of which are rated as high priority drill targets. The 2021 drilling program has added to the potential of the project with multiple very wide intersections of substantial gold mineralization, including 0.61 g/t Au over 127.4 meters in hole JP21-022.