Goldstorm Metals Completes Surface Sampling Expanding Numerous Precious and Base Metal Zones at Electrum and Crown Properties Within the Heart of the Golden Triangle of Northwest British Columbia

Vancouver, British Columbia–(Newsfile Corp. – October 17, 2024) – Goldstorm Metals Corp. (TSXV: GSTM) (FSE: B2U) (“Goldstorm” or “the Company“) is pleased to report that the 2024 exploration campaign has been completed on its 100% owned Electrum and Crown Properties situated within the prolific Golden Triangle region of British Columbia. Assays results from the first set of reconnaissance surface samples from the program are discussed below. The Crown and Electrum properties cover 16,469 hectares and are situated adjacent and due south of both Seabridge Gold Inc.’s KSM gold-copper project and Newmont’s Brucejack gold mine, (Click to view: the location and concession maps).

Exploration carried out during the 2024 program on Electrum included seven diamond drill holes totaling 2,233 meters (m), as well as surface sampling and mapping. Analytical results from the Electrum drill core and surface samples will be announced once they are received and interpreted by the Company. The extensive mapping and sampling programs undertaken by our crews on both Electrum and Crown provided a total of 702 surface rock grab, chip, and channel samples, of which the Company has received assays for 619 of the 627 samples collected at Crown. Highlights from the mapping and sampling reported in this release are from various mineral zones on the Crown Project, and full assay results are reported with links to tables at the end of this release.

Ken Konkin, P.Geo., President and CEO, comments: “We are very pleased with the successful exploration results from our on-going exploration programs (OEX) by our reconnaissance team. Crews significantly expanded the dimensions of the recently discovered Copernicus, Orion, Triton, Launch and Fairweather zones. Mapping and prospecting have delineated numerous trends of mineralization for hundreds of meters that appear to be both structurally and lithologically controlled. Base and precious metal mineralization has been identified, suggesting multi-pulse mineralizing events. These trends have been well-traced by systematic sampling of the mineralized zones, yielding high-grade gold, silver and copper values. We plan to expand our efforts in these zones with our OEX team next year, paying particular attention to areas where the ice continues to recede. We systematically revisit all areas where zones trend under the ice sheets and we are seeing 10’s to 100’s of meters of glacial ablation annually that reveals fresh new outcrops to examine. Our goal is to fast-track and develop drill targets that may host high-grade precious and base-metal mineralization, and additionally may point to the source of mineralized structures that could be related to a much larger disseminated and veinlet system occurring peripherally and/or at depth. We look forward to announcing the surface results as well as the assays from the seven drill holes completed at the Dome and LP target at Electrum when they are available. Visible gold was discovered at the LP Zone that prompted Goldstorm Metals to test this high-grade gold showing at depth. We expect to receive final results to our drill hole program within a couple of weeks.”

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Results of the 2024 Sampling Program Crown Property

On the Orion Concession, crews have delineated multiple stratiform mineralized trends within volcaniclastic rocks at the Copernicus Zone, located along the upper Orion Spine. Three structures trending to the north, and one trending to the northwest, have been identified over 1,500 m of length. Mineralization located over 500 m to the north suggests that the zone may extend under the Frank Mackie Glacier, and is potentially a VMS style deposit associated with an anomalous magnetic high. At the Cat in the Hat Zone, also on Orion, gold-bearing veins trending northeasterly within rhyolitic rocks have been discovered, extending into previously unsampled glacial ablation zones. Click to view: maps of the sampled areas at Copernicus and Cat in the Hat.

Sampling highlights from the Copernicus and Cat in the Hat Zones include:

• Grab sample (C969903) returned 30.9 g/t gold and 42.39 g/t silver from the Cat in the Hat Zone

• 1.9 meter continuous chip samples (C969719 and C969720) returned 2.53 g/t gold, 54.7 g/t silver and 3.3% copper located 290 meters south of the original Copernicus showing

• 1.0 meter chip sample (C970612) returned 8.76 g/t gold and 7.62 g/t silver located 650 meters south of the original Copernicus showing

• 16 samples taken within the Copernicus Zone returned greater than 1% copper, with one sample (C969842) assaying 0.58 g/t gold, 625 g/t silver, and 6.57% copper at the original Copernicus showing

• Mineralized samples were found to correlate with a magnetic high geophysical anomaly

On the Fairweather Concession, reconnaissance was conducted on three significant polymetallic mineralized zones known as Triton, Launch and Galileo. Sampling at the Triton Zone identified a 400-meter-long trend of gold-bearing veins within pyroclastic volcanic rocks. At the Launch Zone, crews found northwest- and west-trending polymetallic mineralization, characterized by pods and veins within siltstone beds, as well as crosscutting the formations. At the Galileo Zone, crews observed mineralization trending west over 800 meters, with multiple parallel polymetallic veins found within volcanic rocks and mudstones. Click to view: maps of the sampled areas at Triton, Launch and Galileo.

Sampling highlights from the Launch, Galileo, and Triton Zones include:

• Grab sample (C969905) returned 55.2 g/t g gold and 82.71 g/t silver at the Launch Zone

• Semi-massive sulphides within siltstone were discovered 650 m north of the Launch Zone highlighted by grab sample (C969892), which returned 2.42 g/t gold, 345 g/t silver, 0.68% copper, 12.22% lead, and 27.29% zinc

• Grab sample (C969829) taken at the Galileo Zone returned 0.29 g/t gold, 925 g/t silver, 3.38% lead, and 2.32% zinc

• Analyses of 38 samples collected at the Triton Zone had a calculated average of 0.88 g/t gold

On the Mackie West Concession, initial sampling discovered molybdenum rich boulders and traced them to source in basalt outcrop. Mineralogy of some of the boulders indicates there may be a porphyry-type molybdenum deposit nearby associated with a buried felsic intrusion. Click to view: maps of the sampled areas at Mackie West.

Sampling highlights include:

• Float samples with high molybdenum (C969920) returned 8916 ppm molybdenum

• Traced to source with grab sample (A0839824), which returned 2159 ppm molybdenum

Orion Concessions Sample Results: Click to view all Orion samples

Table 1: Select Rock Sample Results for the Orion Concession

Fairweather Concession Sample Results: Click to view all Fairweather samples

Table 2: Select Rock Sample Results for the Fairweather Concession

Mackie West Concession Sample Results: Click to view all Mackie West samples

Table 3: Select Rock Sample Results for the Mackie West Concession

Qualified Person

The Qualified Person for this news release for the purposes of National Instrument 43-101 is the Company’s President and CEO, Ken Konkin, P.Geo. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.

QA/QC

All samples were prepared at MSA Labs’ Preparation Laboratory in Terrace, BC and assayed at MSA Labs’ Geochemical Laboratory in Langley, BC. Gold was assayed using a fire assay with atomic absorption (AA) spectrometry finish. Samples over 10 ppm gold were fire assayed with gravimetric finish. All samples were analyzed by four acid digestion with multi-element ICP-MS, with silver and base metal over-limits being reanalyzed by emission spectrometry. MSA Laboratories quality system complies with the requirements for the International Standards ISO 17025 and ISO 9001. MSA Labs is independent of the Company.

About Goldstorm Metals

Goldstorm Metals Corp. is a precious and base metals exploration company with a large strategic land position in the Golden Triangle of British Columbia, an area that hosts some of the largest and highest-grade gold deposits in the world. Goldstorm’s flagship projects, Crown and Electrum, cover an area that totals 16,469 hectares over 6 concessions, of which 5 are contiguous. The Crown Project is situated directly south of Seabridge Gold’s KSM gold-copper deposits and Newmont Corporation’s Brucejack/Valley of the Kings gold mine. Electrum, also located in the Golden Triangle of BC, is situated directly between Newmont Corporation’s Brucejack Mine, approximately 20 kilometers to the north, and the past producing Silbak Premier mine, 20 kilometers to the south.

ON BEHALF OF THE BOARD OF DIRECTORS OF
GOLDSTORM METALS CORP.

“Ken Konkin“

Ken Konkin

President and Chief Executive Officer

For further information, please visit the Company’s website at https://goldstormmetals.com/or contact:

Chris Curran
VP Investor Relations and Corporate Communications
Phone: (604) 559 8092
E-Mail: chris.curran@goldstormmetals.com

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

Cautionary Statement Regarding Forward-Looking Statements

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including without limitation, the statement regarding the expectation that geologists are expected to complete a compilation study this winter once all assay results are received. Such a statement is a forward-looking statement and contains forward-looking information.

Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. Forward-Looking statements are based on certain material assumptions and analysis made by Goldstorm and the opinions and estimates of management as of the date of this press release, including that geologists will complete a compilation study this winter once all assay results are received.

These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Goldstorm to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation that geologists will not complete a compilation study this winter or at all.

Although management of Goldstorm has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Goldstorm does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226894