Vancouver, British Columbia (April 3, 2019) Highway 50 Gold Corp. (TSX.V – HWY) and Regulus Resources Inc. (TSX.V – REG)
Highway 50 Gold Corp. (“Highway 50”) and Regulus Resources Inc. (“Regulus”) (together the “Companies”) announce that RC drilling has commenced on the Golden Brew project located in Lander County, Nevada. The anticipated drilling program is 3,000 metres in four holes. Golden Brew comprises 153 unpatented claims covering a large Carlin-style gold system. Gold mineralization at Golden Brew consists of a zone of gold bearing jasperoid measuring 800 metres by 70 metres hosted in thin platey Cambrian-age carbonates. Previous drilling has extended the Carlin system at least 2 kilometres to the southwest under alluvium where highly anomalous arsenic and antimony have been intersected in drill holes. Gravity surveys and drilling have established that the area being explored is an uplifted horst block which is covered by shallow alluvium.
Regulus can earn a 50% interest in the project from Highway 50 by spending US$5,000,000 on exploration expenditures by May 2021 and assuming the underlying third-party lease payments and claim holding costs. Regulus has fulfilled the first commitment of US$500,000 of exploration expenditures. Upon earn-in, the parties will form a joint venture on a 50/50 basis.