Golden Tag Resources TSXV:GOG Stock Report

Golden Tag Resources Ltd. Drills 93 g/t Ag.Eq over 395 m Expanding Fernandez Zone 70 m to Northwest

Golden Tag Resources Ltd. announced complete results from diamond drillholes 22-65A and 65B, part of an exploration program targeting bulk-tonnage mineralization on the Company’s 100% owned San Diego Project, located in Durango Mexico. Key highlights from holes 22-65A & 65B include: High-grade intersections located close to surface, including 1,551 g/t Ag.Eq over 0.60 metres (“m”), and 1,194 g/t Ag.Eq over 0.65 m in the Rata Zone; 174 g/t Ag.Eq over 16.48 m, including 690 g/t Ag.Eq over 2.50 m, within the Canta Zone; 363 g/t Ag.Eq over 4.27 m within the CSplay Zone; 93 g/t Ag.Eq over 395 m, including a higher-grade interval of 109 g/t Ag.Eq over 186 m, of Fernandez Zone mineralization beyond the western limit of the previously established resource envelope, approximately 70 m NW of historical hole 12-47. Holes 22-65A and 65B were drilled from the same setup to test the western extension of the Fernandez Zone. Hole 22-65A was abandoned at 252 m due to excessive deviation and hole 22-65B was successfully completed to target. Holes 22-65A and 65B cut across the several quartz-sulphide veins from the east-west trending Rata Zone at the top of both holes intersecting 1,551 g/t Ag.Eq over 0.60 m (94.55 to 95.15 m) and 1,194 g/t Ag.Eq over 0.65 m (102.55 to 103.20 m) in hole 22-65A and 312 g/t Ag.Eq over 1.20 m (154.35 to 155.55 m) in hole 22-65B. Both holes then progressed into the east-west trending quartz-sulphide veins of the Canta Zone where hole 22-65B intersected 690 g/t Ag.Eq over 2.50 m (242.70 to 245.20 m) within a broader interval of 174 g/t Ag.Eq over 16.48 m (236.80 to 253.28 m). Hole 22-65B continued into quartz-sulphide veins of the northeast trending CSplay Zone returning 363 g/t Ag.Eq over 4.27 m (350.20 to 354.47 m) and progressed through the Montanez Zone and Midzone. Hole 22-65B intersected bulk tonnage Fernandez Zone mineralization at approximately 630 m vertical depth from surface returning 93 g/t Ag.Eq over 395.10 m (632.60 to 1027.70 m), including a higher-grade interval of 109 g/t Ag.Eq over 185.90 m (840.60 to 1026.50 m). The mineralization was observed to be consistent throughout the interval, with a maximum dilution interval of 4.5 m. The Fernandez Zone interval includes several subintervals of higher-grade copper mineralization, most notably 0.41% Cu over 12.10 m (982.40 to 994.50 m), that are spatially associated with a feldspar porphyry monzodiorite, which is a distinct unit within the central diorite in this area. The Fernandez Zone intercept within hole 22-65B lies beyond the western limit of the resource envelope, established in the 43-101 Technical Report Mineral Resource Estimate prepared by SGS Canada effective April 2013. In the resource estimate, the Fernandez Zone resource envelope had been extended out approximately an average of 70 m to the west of the westernmost historical hole 12-47, into an area with no drill data. The results from holes 22-65B and 21-58 (102 g/t Ag.Eq over 191.57 m;) confirm that this projected extension was accurate, and will also potentially extend the Fernandez Zone resource envelope a further minimum 70 m to the northwest, depending on the resource estimation assumptions employed. The potential extension of the Fernandez Zone, based on the results from holes 22-65B and 21-58, would measure approximately 140 m x 70 m in the horizontal plane and 530 m in the vertical plane (1174 mASL to 644 mASL elevation or 476 m to 1006 m vertical depth from surface:1650 mASL elevation). No drill holes exist to the west of hole 22-65B and thus the Fernandez Zone remains open to the west. Furthermore, the Fernandez Zone in hole 22-65B lies an average of 100 m to the south of the 1849 Zone, described in a Company news release dated September 8, 2021, where hole 07-18 returned 83 g/t Ag.Eq over 101.11 m (813.99 to 915.10 m), hole 12-49 returned 169 g/t Ag.Eq over 42.03 m (440.88 to 482.91 m), and hole 21-57 returned 84 g/t Ag.Eq over 134.37 m (521.88 to 656.25 m). As was previously reported, it was observed during the relogging of historic hole 07-18 that mineralization within the 1849 Zone is like that found in the Fernandez Zone, being comprised of quartz-sulfide vein, stringer and stockwork zones within green and brown exoskarn and red garnet endoskarn. It is possible that the two zones merge, which would extend the Fernandez Zone a further 100 m to the north of hole 22-65B. The Fernandez Zone is steeply plunging cigar-shaped structure characterized by green and brown garnet exoskarn and red garnet endoskarn sulphide mineralization (pyrite-pyrrhotite-sphalerite-galena) contained within quartz-sulphide stockwork veins, breccias, and massive sulphide zones which are spatially associated with the contacts of diorite intrusive bodies. The Fernandez Zone was divided into 2 subunits in the 2013 SGS Canada resource estimate - Endoskarn and Fringe - which respectively correspond to a higher-grade core unit with stockwork mineralization within and proximal to the southern contact of the Central Diorite intrusive, surrounded by an outer section of lower-grade skarn mineralization hosted for the most part in altered limestones.

High number of new and inexperienced directors

There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. Independent Director Talal Chehab is the most experienced director on the board, commencing their role in 2017. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model.

Golden Tag Resources Ltd. Announces Results from Diamond Drill Hole 22-64 on San Diego Project, Located in Durango Mexico

Golden Tag Resources Ltd. announced complete results from diamond drill hole 22-64, part of an exploration program targeting bulk-tonnage mineralization on the Company’s 100% owned San Diego Project, located in Durango Mexico. Hole 22-64 was drilled at a shallow dip (-45 degrees) from the same setup as hole 21-57 (-78 degrees) to further test the 57 Target Area, a series of epithermal breccias and quartz-carbonate-sulphide veins which returned 72 g/t Ag.Eq over 273.7 m, including 861 g/t Ag.Eq over 10.0 m, as previously reported in news releases dated September 8 and May 27, 2021 discussing hole 21-57. Mineralization within the 57 Target Area is a complex interplay of several vein trends proximal to the southern contact of the Central Diorite, notably late-stage northeast trending epithermal veins of the 57 NE A and 57 NE B trends intersecting with the west-northwest trending San Jose Zone system of quartz-sulfide veins with associated albite alteration. The San Jose Zone has been identified over a minimum strike length of 150 m and down to a minimum vertical depth of 290 m. Hole 22-64 intersected the 57 Target Area from surface returning 60 g/t Ag.Eq over 73.50 m (7.90 to 81.40 m), which includes higher-grade intervals of 980 g/t Ag.Eq over 0.91 m (28.09 to 29.00 m) and 441 g/t Ag.Eq over 2.80 m (29.70 to 32.50 m). The bottom of the 57 Target mineralization at 81.40 m in hole 22-64 is located approximately 240 vertical m above the bottom of the 57 Target mineralization at 303.20 m in hole 21-57 (72 g/t Ag.Eq over 273.7 m), which extends the total vertical depth commencing from surface to approximately 290 m. This broad zone of potential open pit style mineralization has now been identified over an approximate 75 m x 50 m area. Hole 22-64 was extended to cut across the Montanez, Canta and Rata Zones intersecting 317 g/t Ag.Eq over 0.60 m, 405 g/t Ag.Eq over 0.70 m (238.20 to 238.90 m) and 422 g/t Ag.Eq over 0.63 m (284.37 to 285.00 m) and 331 g/t Ag.Eq over 1.04 m (286.12 to 287.16 m), respectively. La Rata is a series of east-west trending quartz-sulfide veins which can be traced for over 500 m strike length on the property. The database contains four additional diamond drill holes within a radius of 100 m that were observed to contain open pit style mineralization along with holes 21-57 and 22-64: Hole 07-24 returned 55 g/t Ag.Eq over 40.27 m (29.68 to 69.95 m), located 10 m to the east of hole 21-57. Hole 06-10 returned 49 g/t Ag.Eq over 224.85 m (14.60 to 239.45 m), located approximately 50 m east of hole 21-57. Hole 20-51 returned 50 g/t Ag.Eq over 35.46 m and 45 g/t Ag.Eq over 91.84 m (202.66 to 294.50 m) occurring at approximately the same depth as the mineralization at 273.65 m in hole 21-57, located downdip to the south of holes 07-24, 21-57, and 22-64. Commencing from surface, hole 06-09 returned 60 g/t Ag.Eq over 211.60 m (2.10 to 213.70 m), located approximately 125 m to the northeast of hole 21-57. The mineralization in hole 06-09 is proximal to the contact of the Central Diorite and may be related to the 57 Target. The Company is planning to conduct follow-up drilling to better understand the orientation and continuity of the potential open pit style mineralization within proximity of the 57 Target Area. Golden Tag Resources uses a quality assurance/quality control program that monitors the chain of custody of samples and includes the insertion of blanks, duplicates, and reference standards in each batch of samples sent for analysis. Drill core is photographed, logged, and cut in half with one half retained in a secured location for verification purposes and one half shipped for analysis. Sample preparation (crushing and pulverizing) is performed at ALS Geochemistry, an independent ISO 9001:2001 certified laboratory, in Zacatecas, Mexico and pulps are sent to ALS Geochemistry in Vancouver, Canada for analyses. The entire sample is crushed to 70% passing -2 mm and a riffle split of 250 grams is taken and pulverized to better than 85% passing 75 microns. Samples are analyzed for gold using a standard fire assay with Atomic Absorption Spectrometry from a 30-gram pulp. Gold assays greater than 10 g/t are re-analyzed on a 30-gram pulp by fire assay with a gravimetric finish (Au-GRA21). Samples are also analyzed using a 35 element inductively coupled plasma (ICP) method with atomic emission spectroscopy (AES) on a pulp digested by aqua regia. Overlimit sample values for silver (>100 g/t), lead (>1%), zinc (>1%), and copper (>1%) are re-assayed using a four-acid digestion overlimit method with ICP-AES. For silver values greater than 1,500 g/t samples are re-assayed using a fire assay with gravimetric finish on a 30-gram pulp.

Insider recently bought CA$1m worth of stock

On the 28th of February, Eric Sprott bought around 4m shares on-market at roughly CA$0.25 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months.

Golden Tag Resources Ltd. announced that it has received CAD 3.25 million in funding from 2176423 Ontario Ltd., and other investors