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Velocity Minerals Ltd.

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Summary

Project:

Rozino

Deposit:Rozino
Location:Bulgaria
Commodities:Gold
Date:1/8/2019
Report Code:NI43-101
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Resource Increase/Upgrade
Report details:8-1-2019: Velocity Minerals Ltd. announces an Exploration/Drilling Update report for its Rozino deposit at the Rozino project. Drilling results incl. 29.7m @ 1.17g/t Au from 1.0m. Vancouver, British Columbia – Velocity Minerals Ltd. (TSXV: VLC) (“Velocity
Resources:(not mentioned in this report)
CP/QP:[Overall Report]: Stuart A. Mills (Internal)
ABSTRACT:Vancouver, British Columbia – Velocity Minerals Ltd. (TSXV: VLC) (“Velocity” or the “Company”) announces that it has received positive drill results from the Rozino gold project (“Rozino”), located in Bulgaria. Highlights include 29.7m from surface grading 1.17g/t gold. Mineralization remains open. Drill holes RDD-057 to RDD-061, collared outside of the Preliminary Economic Assessment (“PEA”) (September 2018) base case open pit design, and all returned gold intersections. The addition of nearsurface gold intersections in several drill holes potentially expands the mineralized envelope at Rozino and is of additional importance as the mineralized drill intersections correspond closely with mineralization intersected in recent surface trenching at Rozino. Results have been received for 6 drill holes (Table 1). Trench RTR-003 (previous news release November 20, 2018) intersected mineralization over much of its 93m length, including 35m grading 0.63g/t gold. Drill holes RDD-058 to RDD-061 (Figures 1 and 2) followed up on this trench and results are positive with drill holes generally intersecting mineralization from surface to top of basement. The correlation between surface trench results and mineralization at depth can be clearly seen on the cross section (Figure 1). This mineralization remains open to the south and will require further drill testing in the future.

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