Reunion Gold Continues to Expand High-Grade Mineralization

LONGUEUIL, Québec, Feb. 08, 2024 (GLOBE NEWSWIRE) — Reunion Gold Corporation (TSXV: RGD; OTCQX: RGDFF) (the “Company” or “Reunion Gold”) is pleased to announce additional drill results from its Oko West Project, Guyana. The results include drilling from both the resource expansion drill program below Block 4 and continued infill drilling within areas of Inferred resources outlined as part of the June 2023 pit constrained mineral resource estimate (“MRE”).

• Highlights from the resource expansion drill program, which intersected the down-dip continuation of high grade mineralization from Block 4 down to and below 1,000 meters (“m”) depth include hole D-360A-W2, which intersected 14.3 m @ 8.84 grams per tonne of gold (”g/t Au”) and 10.5 m @ 6.09 g/t, drill hole D-359-W1 which intersected 24.4 m @ 7.80 g/t Au, drill hole D-364, which intersected 14.0 m @ 7.40 g/t Au, and drill hole D-362A, which intersected 15.5 m @ 4.26 g/t Au, 4.9 m @ 6.29 g/t Au and 4.3 m @ 6.64 g/t Au (all reported using a 1.5 g/t cut-off grade).
• The high-grade zone remains fully open to further expansion below 1 km.
• The Company has now closed and handed over an updated database to G Mining Services for the preparation of an updated MRE expected to be announced by the end of February 2024.

Rick Howes, President and CEO of Reunion Gold, stated “I am very pleased with the results of both the resource conversion and the resource expansion drill programs, which together continue to confirm the strong levels of continuity within the open pit resource as well as the expansion of high-grade mineralization below the previously defined MRE pit shell, down to depth of 1,000 m where it remains open. This also confirms that we have significant underground potential below what is already very significant open pit potential. Once the open pit resource model is updated and the new underground resource model is complete, both the open pit and underground mine design scenarios will be evaluated as part of the Preliminary Economic Assessment (“PEA”) work already underway with G Mining Services. This work will also determine the transition depth from the open pit to underground as well as the preferred sequencing of the open pit and underground mine. We expect to release the PEA before the end of June 2024. Permitting also continues on schedule with baseline studies nearing completion and Terms of Reference for the Environmental Impact Assessment submitted to the Guyana Environmental Protection Agency for approval.”

Resource Expansion Drill Program

Results from the resource expansion program at depth below the MRE pit shell continue to confirm the existence of high-grade mineralization within block 4 of the Kairuni zone, to depths of over 1,000 m down dip. The latest highlights from this deep drilling are shown in Table 1 and on the long section on Figure 1. These results include Hole D-360A-W2, which intersected 14.3 m @ 8.84 g/t Au and 10.5 m @ 6.09 g/t Au (using a 1.5 g/t Au cut-off) within a broader interval of 50.1 m @ 4.10 g/t Au (using a 0.3 g/t cut-off) from 1039.8 m downhole; hole D-359-W1, which intersected 24.4 m @ 7.80 g/t Au and 4.2 m @ 4.02 g/t Au (using a 1.5 g/t Au cut-off) within a broader interval of 83.5 m @ 3.06 g/t Au (using a 0.3 g/t Au cut-off) from 721.5 m downhole; and hole D-362A, which intersected 15.5 m @ 4.26 g/t Au, 4.9 m @ 6.29 g/t Au and 4.3 m @ 6.64 g/t Au (using a 1.5 g/t cut-off grade) within a broader interval of 76.0 m @ 2.27 g/t Au (using a 0.3 g/t Au cut-off) from 991.0 m downhole. Importantly, the high-grade zone remains open to further expansion below 1,000 m. Approximately 23,500 m of diamond drilling has been completed in areas below the June 2023 MRE pit that will be incorporated into a new mineral resource estimate down to depths of approx. 1,000 m, and the Company has commenced a 20,000 m infill program for the deeper zones of mineralization with the intention of converting any new resources to an Indicated classification prior to the Q3 2024 start of a planned Feasibility Study.

Table 1 – Significant intervals reported from deep drilling beneath Block 4

Infill Drilling Program

The Company has largely completed its drill program aiming to convert most of the Inferred Resources within the June 2023 MRE to a spacing expected to suffice for an Indicated resource classification. The results from this drilling, which are shown in Table 2, continue to confirm the high level of continuity of the deposit as well as the trend toward higher grades within the MRE pit shell at depth. Highlights from this drilling include hole D-353A (see Figure 1), which intersected 65.9 m grading 5.12 g/t Au (using a 0.3 g/t cut-off), including 15.5 m @ 13.52 g/t Au and 8.3 m @ 4.61 g/t Au. Results from infill drilling in Block 5 include hole D-366 intersecting 45.0 m @ 1.85 g/t Au, including 7.3 m @ 2.52 g/t Au and 4.2 m @ 3.12 g/t Au (Table 3 and Figure 2).

Table 2 – Significant Intervals reported from the MRE infill program.

Table 3 – Significant Intervals reported from Blocks 5 and 6.

The drill results reported in this press release have been included in an updated database which has been handed over to G Mining Services in order to prepare an updated MRE, which is expected to be released before the end of February 2024. The updated MRE will include an update to the open pit MRE, in addition to an initial underground resource. The updated combined open pit and underground MRE will be incorporated into the planned PEA study, expected to be ready for announcement before the end of June 2024.

Exploration Programs

The Company also continues to move its exploration programs forward to investigate targets at Oko West outside of the MRE area. As part of this work the scout drilling geochemical program over the areas with well-developed duricrust or other cover is largely complete (see results shown in Figure 3), which indicates several areas of anomalous gold mineralization outside of the MRE. In combination with conventional RC drilling, this has proven to be a useful tool to both help condemn areas around proposed infrastructure sites and to find areas containing potential satellite deposits. In parallel with this scout drilling program, the Company is completing both Induced Polarization and Ground Magnetics geophysical surveys. These surveys have already been completed over the area containing the MRE and are now being advanced over other areas of interest on the Oko West project to assist in targeting further exploration work. Once this data has been compiled, the Company continues to conduct follow up RC and diamond drilling in areas of interest. Outside of its work on the Oko West property, the Company intends to take advantage of its knowledge and experience within the Guiana Shield to identify, acquire and explore additional exploration projects both near Oko West and elsewhere, in both Guyana and Suriname.

Sample Collection, Assaying and Data management

Significant intervals in this press release have been calculated using a grade cut-off of 0.3 g/t Au, a minimum length of ten meters, and a maximum length of ten meters of consecutive internal waste. Included significant intervals have been calculated using a grade cut-off of 1.5 g/t Au, a minimum length of three meters, and a maximum length of three meters of consecutive internal waste. Gold grades are uncapped. Mineralized intersection lengths are not necessarily true widths and estimated true thickness (“ETT”) has been calculated using an assumed plane of mineralization dipping 65° towards 095°, representative of the mineralization identified in Block 4. Complete drilling results and drill hole data are posted on the Company’s Website. Diamond drill (DD) samples consist of half of either HQ or NQ core taken continuously at regular intervals averaging 1.4 m, bagged, and labelled at the site core shed. Reverse circulation (RC) drill samples are obtained from a rotary splitter attached to a Metzke cyclone, weighed, bagged, and tagged at the drill site. All resource drilling samples are shipped to the Actlabs certified laboratory in Georgetown, Guyana, respecting best-practice chain of custody procedures. Samples from the Scout RC program and recent conventional RC samples are shipped to MS Analytical laboratory in Georgetown using the same chain-of-custody procedures. At each laboratory, samples are dried, crushed to 80% passing 2 mm, riffle split (250 g), and pulverized to 95% passing 105 μm. Coarse blanks are inserted by the Company, and are used between and following suspected high-grade intervals. Barren sand flushes are inserted by the analytical laboratory after each sample is pulverized to clean the bowl. Gold analysis is carried out through a 50 g fire assay with an atomic absorption finish. Initial assays with results above 3.0 g/t Au are re-assayed with a gravimetric finish. Samples with visible gold are additionally assayed with a metallic screen method using 1 kg of pulp. Certified reference materials and blanks are inserted at a rate of 5% of samples shipped to the laboratories. RC field duplicates and DD umpire pulp duplicates are also generated at a rate of 5% of samples. Pulp umpire duplicates are analyzed at the MS Analytical certified laboratory in Georgetown. Assay data is subject to QA/QC prior to accepting into the Company database managed by an independent consultant.

Qualified Person

The technical information in this press release has been reviewed and approved by Justin van der Toorn, the Company’s VP, Exploration. Mr. van der Toorn (CGeol FGS, EurGeol) is a qualified person under Canadian National Instrument 43-101.

About Reunion Gold Corporation

Reunion Gold Corporation is a leading gold explorer and developer in the Guiana Shield, South America, concentrating in both Guyana and Suriname. In early 2021, the Company announced an exciting new greenfield gold discovery at the Kairuni zone on its Oko West project in Guyana, and in June 2023, the Company announced an initial Mineral Resource Estimate containing 2.475 Moz of gold in Indicated resources grading 1.84 g/t Au and 1.762 Moz of gold in Inferred resources grading at 2.02 g/t (see NI 43-101 Technical Report Oko West Gold Project dated effective June 1, 2023 on the Company’s website and on SEDAR+). In addition to rapidly advancing the development of the Kairuni zone resource, the Company is actively working to expand the initial resource at Kairuni and to explore several additional priority targets at Oko West with the objective of outlining additional satellite deposits.

The Company’s common shares are listed on the TSX Venture Exchange under the symbol ‘RGD’ and trade on the OTCQX under the symbol ‘RGDFF’. Additional information about the Company is available on SEDAR+ (www.sedarplus.ca) and the Company’s website (www.reuniongold.com).

For further information, please contact:

REUNION GOLD CORPORATION
Rick Howes, President and CEO, or Doug Flegg, Business Development Advisor
E: doug_flegg@reuniongold.com
E: info@reuniongold.com
Telephone: +1 450.677.2585

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities laws (collectively, “forward-looking statements”). Statements and information that are not historical facts are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible” and similar expressions, or statements that events, conditions, or results “will”, “may”, “could” or “should” occur or be achieved. Forward-looking statements in this press release include statements regarding plans to complete drilling and other exploration programs and studies, exploration and drill results and interpretation of such results, potential mineralization, plans to complete a preliminary economic assessment and a feasibility study, and expectations regarding the results of such assessment and study, forward looking assumptions used relating to the mineral resources estimates, expectations to expand the resources at depth and elsewhere within the Oko West Project, as well as statements regarding beliefs, plans, expectations or intentions of the Company.

Forward-looking statements and the assumptions made in respect thereof involve known and unknown risks, uncertainties and other factors beyond the Company’s control including risks and uncertainties related to timing, cost and results of exploration programs, updated resource estimates, economic assessment and development studies; uncertainties inherent with conducting business in foreign jurisdictions including corruption, civil unrest, political instability; geopolitical risks including risks related to recent actions taken by the government of Venezuela over the border dispute; unanticipated title disputes; gold price volatility; currency fluctuations; risks associated with the recurrence of COVID-19 or future pandemics; delays in obtaining governmental approvals or financing; risks regarding potential litigation proceedings; regulatory risks and liabilities including, regulatory environment and restrictions; metallurgical testing and recoveries and other risks of the mining industry; speculative nature of gold exploration; dilution; share price volatility; competition; and loss of key employees. Additional information on these risks and other factors is included in documents and reports filed by the Company with Canadian securities regulators and available at SEDAR+ (www.sedarplus.ca) including, but not limited to, the cautionary statements made in the relevant sections of the Company’s Annual Information Form and Management Discussion & Analysis.

Forward-looking statements in this press release are made as of the date herein. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements in this press release are reasonable, undue reliance should not be placed on such statements. New factors emerge from time to time, and it is not possible for management of the Company to predict all such factors and to assess in advance the impact of each such factor on the business of the Company or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information or future events or otherwise, except as may be required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.

Figure 1 – Inclined long section across Block 4, showing selected results and drill hole locations reported in this press release. ETT = Estimated True Thickness; Significant intersects are calculated using a 0.3 g/t Au cutoff, 10 m minimum down hole length and 10 m maximum consecutive internal dilution; Included intersects are calculated using a 1.5 g/t Au cutoff, 3 m minimum down hole length and 2 m maximum consecutive internal dilution.
LINK TO FIGURE 1: https://www.reuniongold.com/240208-pr?lightbox=dataItem-lsdofii01

Figure 2 – Inclined long section across Block 4, showing selected results and drill hole locations reported in this press release. Significant intersects are calculated using a 0.3 g/t Au cutoff, 10 m minimum length and 10 m maximum consecutive internal dilution; Included intersects are calculated using a 1.5 g/t Au cutoff, 3 m minimum length and 2 m maximum consecutive internal dilution.
LINK TO FIGURE 2: https://www.reuniongold.com/240208-pr?lightbox=dataItem-lsdofii1

Figure 3 – Scout RC results and coverage to date, with reference to the location of the Kairuni zone discovery and conventional RC drill collars completed as part of condemnation and exploration programs outside of the resource drilling areas.
LINK TO FIGURE 3: https://www.reuniongold.com/240208-pr?lightbox=dataItem-lsdofii12