MacDonald Mines Withdraws Previously Announced Scadding Gold Project Assays Pending Further Review

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Published May 24, 2024 • 3 minute read

TORONTO, May 24, 2024 (GLOBE NEWSWIRE) — MacDonald Mines Exploration Ltd. (TSX-V: BMK, OTC: MCDMF)
(“MacDonald Mines” or the “Company”) has discovered inconsistencies in certain assay results from the Scadding gold prospect that were previously publicly announced by way of press releases and which may also have been disclosed or used in certain other disclosure documents, such as the National Instrument 43-101 technical report on the Scadding gold project dated October 18, 2019. Accordingly, the company hereby withdraws all its previously announced assay results for the Scadding gold project and advises that such results and the disclosure that such results are based on should not be relied upon.

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The company is conducting a detailed review and comparison of the assay results from the Scadding gold project with the company’s disclosure documents in order to identify and quantify the extent of any incongruities.

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These inconsistencies are limited to the Scadding gold project which is not a flagship project for the company nor is there a resource of any kind associated with it. The Glade and Alwyn properties are unaffected.

The company will keep the market updated as further information becomes available.

About MacDonald Mines Exploration Ltd.

MacDonald Mines is a Canadian exploration company focused on exploring for critical and precious metals in a Metasomatic Iron alkali-calcic (MIAC) mineral system on its 100%-owned, 19,720 ha (197.2 km2) SPJ Project. MIAC systems are known for hosting IOCG and affiliated deposits. The property is located 20km southeast of the prolific Sudbury Mining Camp in Northern Ontario. The Company’s primary exploration focus are the polymetallic and iron-poor to possibly iron-rich Ag-Au-Cu-Co showings and prospects along the McLaren Lake Fault System that includes the Alwyn Cu-Au-(Ag-Co) trend and the Ashigami Co-Cu-Au showings, and the iron-rich to iron-poor Glade Au trend recognized to host Au mineralization comparable to the Scadding deposit. In addition, a potential for nickel, cobalt, copper, and platinum group elements in the Nipissing intrusions that are hosting the Candore, Jerome and Glade showings within the SPJ Project.

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ON
BEHALF
OF
THE
BOARD

“Mike England”
_____________________________
Mike England, INTERIM CEO & DIRECTOR

FOR FURTHER
INFORMATION
PLEASE
CONTACT:
Telephone:
1-604-683–3995 TollFree: 1–888–945-4770

E-mail: [email protected]

Forward-Looking Statements

This news release may contain certain “forward-looking statements”. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

NEITHER THE 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.