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Barsele Minerals Corp.

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Summary

Project:

Barsele

Deposit:Barsele
Location:Sweden
Commodities:Gold
Date:2/26/2018
Report Code:NI43-101
Report Type:Resource Estimation
Project Stage:Pursuing Resource Increase/Upgrade
Report details:26-2-2018: Barsele Minerals Corp. announces a Resource Estimation report for its Barsele deposit at the Barsele project. Mineral Resource update for the Barsele Gold project. Vancouver, BC – Barsele Minerals Corp. – (TSX-V: BME) (“Barsele”) is pleased to
Resources:(Resource): 2.399Mt @ 2.51g/t Au (Ind.) + 15.28Mt @ 2.91g/t Au (Inf.) at Barsele Underground
CP/QP:[Resources]: Pierre-Luc Richard, 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 drilling to date along the Avan– Central–Skiråsen gold zones at a 1.75 g/t gold cut-off has outlined an Inferred Resource of 15,279,000 tonnes grading 2.91 g/t gold (1,427,000 ounces of contained gold) and an Indicated Resource of 2,399,000 tonnes grading 2.50 g/t gold (193,000 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 are extremely pleased with the progress to date at Barsele,” states President, Gary Cope. “This gold deposit continues to evolve, supported by the new updated Mineral Resource Estimate, that only focuses on the underground component of the Avan–Central–Skiråsen zones. These results indicate a significant step forward for the project, given the higher grades and contained gold ounces. We continue to look forward to the advancement of the Barsele Project, specifically the recent discovery at Risberget, located 3.0 kilometers from the ultimate drilling at Skiråsen; where the positive results to date are not included in the resource. The 7.0-kilometer gold-bearing structural system remains open in all directions. Finally, we would like to thank our joint venture partner Agnico Eagle for their hard work and commitment.”

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