Vancouver, British Columbia. October 4, 2022, Northern Lights Resources Corp. ("Northern Lights" or the "Company") (CSE: NLR, OTC: NLRCF) is pleased to announce that drilling is underway at the Company's Medicine Springs Silver Project ("Medicine Springs"), located in Elko County, Nevada.
The first drill hole of the proposed 4,000m program is underway. Drill Hole MS-22-01 is being drilled at Golden Pipe, azimuth 055 degrees with a target depth of approximately 1,000 metres (See Figure 1). This first drill hole is targeting structures below the mineralized jasperoids identified in the surface sampling program in 2021. The key objectives of the drill hole MS-22-01 is to determine the thickness of the carbonate sequence, the depth of oxidation and confirmation of the geophysical anomalies identified by Northern Lights exploration work in 2019.
The drilling campaign at Medicine Springs is being completed by Reyna Silver (TSX.V RSLV) as operator under the terms of the Medicine Springs Option/Joint Venture Agreement. Reyna Silver can earn up to 80% of the Medicine Springs project by making certain exploration expenditures and cash payments. Northern Lights has a free carried interest until Reyna Silver has expended a minimum of US$4.0 million dollars on exploration at Medicine Springs. See the NLR announcement dated October 5, 2020 for full details of the Option/Joint Venture Agreement between NLR and Reyna Silver.
Northern Lights CEO, Jason Bahnsen commented "We are excited to have the first drill hole at Medicine Springs underway. This +1,000 metres hole will be instrumental to confirming the potential for a large- scale Carbonate Replacement Deposit at Medicine Springs."
Figure 1 - Medicine Springs Project Showing Geochemical Soil Anomaly and Proposed Drilling Areas
Competent Persons Statement Information in this report relating to Exploration Results is based on information reviewed by Mr. Lee R. Beasley, a Certified Professional Geologist who is a Member of the American Institute of Professional Geologists, and a consultant to Northern Lights Resources. Mr. Beasley has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Qualified Person for the purposes of NI43-101 Standards of Disclosure for Mineral Projects. Mr. Beasley consents to the inclusion of the data in the form and context in which it appears.
For further information, please contact:
Albert Timcke, Executive Chairman and President Email: rtimcke@northernlightsresources.com Tel: +1 604 608 6163
Jason Bahnsen, Chief Executive Officer Email: Jason@northernlightsresources.com Tel: +1 604 608 6163
About Northern Lights Resources Corp. Northern Lights Resources Corp is a growth-oriented exploration and development company that is advancing two projects: The 100% owned, Secret Pass Gold Project located in Arizona; and the Medicine Springs silver-zinc-lead Project located in Elko County Nevada where Northern Lights, in joint venture with Reyna Silver are earning 100% ownership. Northern Lights Resources is a member of the Arizona Mining Association.
Northern Lights Resources trades under the ticker of "NLR" on the CSE and "NLRCF" on the OTCQB. This and other Northern Lights Resources news releases can be viewed at www.sedar.com and www.northernlightsresources.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward- looking statements include, but are not limited to, statements with respect to: the terms and conditions of the proposed private placement; use of funds; the business and operations of the Company after the proposed closing of the Offering. Forward-lookingstatements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-lookingstatements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the uncertainties surrounding the mineral exploration industry. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new inforAddmation, future events or otherwise, except as required by law.