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Sego Resources Receives Permit to Work Until August 24, 2029

  • Written by Newsfile

2023 Drill Program Proposed

Vancouver, British Columbia--(Newsfile Corp. - March 28, 2023) - Sego Resources Inc. (TSXV: SGZ) ("Sego" or "the Company") is pleased to announce that the company has received a new five-year multi-area exploration permit valid to August 24, 2029 and 2023 programs plans for the Miner Mountain Project, near Princeton, BC. Please note this news release with Figures 1 and 2 and an updated Corporate Presentation with accompanying maps, tables and other details are found on Sego's website home page (www.segoresources.com[1]).

The 2023 drill program will commence in the Southern Gold Zone with several short drill holes located on an 80 metre interval between and parallel to previously mineralized drilled sections. These new results will be required to confirm the grade and widths of the Southern Gold Zone in this area and to complete a maiden resource calculation of the Southern Gold Zone.

Based on geology, soil, and chargeability anomalies, as well as sporadic copper mineralization known to the northeast of the Southern Gold Zone, Sego Resources plans to drill for potential copper-gold porphyry mineralization north of the Southern Gold Zone. Recent case studies have shown that lateral and higher gold zones can be found above deeper porphyry copper-gold mineralization, as seen in the New Afton deposit. Figure 1 illustrates the analogue being used to target this mineralization.

Sego Resources Receives Permit to Work Until August 24, 2029

FIGURE 1

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/1056/160213_67c7588334eb9893_002full.jpg[2]

Sego also intends to explore below the Cuba Zone (as shown in Figure 2) as well as the Granby and Quintana Zones to the north. Shallow-dipping faults have truncated and offset deeper copper-gold mineralization in these zones particularly the Cuba Zone. To evaluate the deeper potential of these zones, long drill holes will be necessary.

Sego Resources Receives Permit to Work Until August 24, 2029

FIGURE 2

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/1056/160213_67c7588334eb9893_003full.jpg[3]

Prior to the onset of the 2023 drill program the current Archeological Review will be extended and updated. Concurrent with this review, data from polished drill core thin sections from the Southern Gold Zone will be evaluated to help guide deep drill exploration.

Sego Resources anticipates a start date of mid to late April for this work.

Qualified Person

The technical information in this news release was reviewed and approved by Ron Britten, Ph.D., P.Eng., who is a Qualified Person under the definitions established by NI 43-101.

About the Project

Sego is 100% owner of the Miner Mountain project, an alkalic copper-gold porphyry exploration project near Princeton, British Columbia. The property is 2,056 hectares in size and is located 15 kilometres north of the Copper Mountain Mine operated by Copper Mountain Mining Corporation and Mitsubishi Copper. Sego has a Memorandum of Understanding with the Upper Similkameen Indian Band on whose Traditional Territory the Miner Mountain project is situated. Sego has received an Award of Excellence for its reclamation work at Miner Mountain.

For further information please contact:

J. Paul Stevenson, CEO(604) 682-2933Or toll free 1-866-683-2933ceo@segoresources.com[4]

Forward-Looking Statements

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. No regulatory authority has approved or disapproved the information contained in this news release.

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statement of historical facts that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, statements are not guarantees of future performance and actual results or developments may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/160213[5]

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