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Barsele Minerals Corp.

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Summary

Project:

Barsele

Deposit:Barsele
Location:Sweden
Commodities:Gold
Date:2/21/2019
Report Code:NI43-101
Report Type:Resource Estimation
Project Stage:Pursuing Resource Increase/Upgrade
Report details:21-2-2019: Barsele Minerals Corp. announces a Resource Estimation report for its Barsele deposit at the Barsele project. Updated mineral resource estimate for project. Vancouver, BC – Barsele Minerals Corp. – (TSX-V: BME) (“Barsele”) is pleased to report
Resources:(Resource): 5.578Mt @ 1.81g/t Au (Ind.) and 25.495Mt @ 2.54g/t Au (Inf.)
CP/QP:[Resources]: Harold Brisson, Carl Pelletier (InnovExplo Inc.)
ABSTRACT:Vancouver, BC – Barsele Minerals Corp. – (TSX-V: BME) (“Barsele”) is pleased to report that an independently verified Mineral Resource Estimate has been completed for the purposes of the Company on the Barsele Gold Project in Västerbottens Län, northern Sweden (the “Barsele Project”). The study concludes that diamond drilling to date along the Avan–Central–Skiråsen gold zones at a 0.50 g/t gold cut-off for a pit constrained extraction mining method and a 1.50 g/t gold cut-off for a bulk underground extraction mining method and a 1.80 g/t cut-off for a selective underground extraction mining method, has in combination, outlined an Inferred Resource of 25,495,000 tonnes grading 2.54 g/t gold (2,086,000 ounces of contained gold) and an Indicated Resource of 5,578,000 tonnes grading 1.81 g/t gold (324,000 ounces of contained gold). The exploration program at Barsele is being operated by joint venture partner Agnico Eagle Mines Limited – (TSX, NYSE: AEM) (“Agnico Eagle”). Ownership in the Barsele Project is 55% Agnico Eagle and 45% Barsele. Agnico Eagle can earn an additional 15% in the Barsele Project through the completion of a pre-feasibility study. There is no cash outlay by Barsele until pre-feasibility is completed. “We continue to be pleased with exploration successes at Barsele,” states President, Gary Cope. “The updated 2019 Mineral Resource Estimate for the Avan–Central–Skiråsen zones, now incorporates cut-off grades for pit constrained, bulk underground and selective underground extraction mining methods, depending on the nature and depth of the mineral resource. The 2018 exploration and resource modeling has resulted in a significant upgrade in gold ounces, while maintaining compelling gold grades. The 8.0-kilometer gold-bearing structural corridor remains open in all directions for future exploration.”

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