Graycliff Receives Drill Results up to 3,030 g/t Gold over 1.0 metre at Shakespeare Gold Project, Ontario

Graycliff Exploration Limited has announced extraordinary assay results from its Shakespeare Gold Project in Ontario, marking a significant milestone in the company's exploration efforts. The first metallurgical test hole, designated Hole A, returned an extremely high-grade 7.0 metre interval averaging 454.34 grams per tonne gold at a depth of 123 metres. Within this interval, individual metre samples reached exceptional grades, with the standout intersection of 3,030 g/t gold over 1.0 metre representing one of the highest-grade gold intersections reported in recent Canadian exploration.

The Shakespeare Gold Project, located 84 kilometres west of Sudbury on a readily accessible 1,025-hectare property, has a rich mining history dating back to 1903. Graycliff's systematic exploration program between 2020 and 2022 included 61 drill holes totaling over 12,500 metres, with 38 holes returning gold mineralization and 40% of those showing visible gold. The current metallurgical drilling program aims to provide essential data for mineral extraction analysis and concentration studies, ultimately supporting plans for bulk sampling operations.

These results come at an opportune time as gold prices have strengthened significantly, particularly in Canadian dollar terms. The exceptional grades encountered in Hole A substantially enhance the project's overall grade profile and validate the company's geological model. Chairman James Macintosh noted that while the intersection exceeded expectations, the company recognizes the importance of average grades across the entire resource, with extreme high-grade intersections like these contributing positively to the overall project economics.

Looking forward, Graycliff is conducting a comprehensive re-evaluation of all project data in the context of current gold prices, including historic mine workings, field sampling, and drilling results. Upon completion of this review and receipt of results from the remaining two metallurgical holes, the company will develop new exploration models and planning for follow-up drilling to expand and better define the known gold mineralization. The adoption of semi-annual financial reporting will also reduce administrative costs, allowing greater focus on exploration activities at this promising Ontario gold project.