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Radisson expands drilling program to 35,000 metres at O'Brien Gold Project in Quebec

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ROUYN-NORANDA, Quebec, May 29, 2024 (GLOBE NEWSWIRE) – Radisson Mining Resources Inc. (TSX-V: RDS, OTCQB: RMRDF) (“Radisson” or the “Pursue”) is pleased to announce that it has expanded its drill program to approximately 35,000 metres (“m”) at its high-grade O'Brien Gold Project along the Larder Lake-Cadillac Break (see Location Map 1 and Location Map 2), midway between Rouyn-Noranda and Val-d'Or in Quebec, Canada.

Highlights of the expanded drilling program:

  • 60-70% of drilling will focus on resource expansion between Trends 0 and 4.
    • Approximately 15,000 m for 27 drill holes (see Figures 1 and 2)
  • 30-40% of drilling will focus on high priority step-out and exploration targets.
    • Historic O'Brien Deep and Trend 1 Deep: 8,200 m for 6 holes (see Figures 1 and 2)
    • New Alger target: 2,400 m for 5 holes (see Figure 3)

Fully funded for 35,000 m of program (22,000 m still to be completed)

  • To date, 24 drill holes with a total length of 12,960 m have been completed.
  • Results are pending for 5,804 m in 11 drill holes, including 8 sections with visible gold on sections 1, 2 and 3 (see VG in holes OB-24-320 and OB-24-317).
  • With around 6.5 million USD1 Radisson has the resources to complete the remainder of the 35,000 metre drilling program.
    1 Estimated on May 27, 2024

This significant expansion of the drilling program will allow the Company to accelerate both resource expansion and exploration efforts simultaneously. The expanded program will dedicate 60-70% of drilling to expanding the current resources in the high-grade mineralized zones. At the same time, the Company will prioritize a prospective 2-kilometer (“km”) target outlined in early 2024 in the northwestern portion of the 74 km.2 New Alger with the objective of making a new discovery. In addition, the Company will drill test beneath the historic underground workings of the O'Brien Mine and 300 metres below the current resources on sections 0 and 1. This two-pronged approach underscores Radisson's commitment to unlocking the full value of the prospective O'Brien Gold Project through resource growth and further exploration potential.

A total of 24 holes (12,960 m) have been drilled to date in the first phase of the program. The Company expects to be able to announce additional Phase I assay results in the coming weeks.

“We are pleased to expand our drilling program at O'Brien to 35,000 metres,”commented Denis V. Lachance, Interim President and Chief Executive Officer.“This significant increase allows us to focus on expanding current resources while pursuing new discoveries in our prospective New Alger area and, for the first time, at depth below the prolific historic O'Brien Mine, Trend 0 and Trend 1, where we see great potential for gold mineralization. Given the recent acceleration and expansion of our fully funded drilling campaign, we look forward to delivering numerous drill results in the coming weeks.”

Longitudinal section – exploration potential of the O'Brien project

Figure 1. Longitudinal section – O'Brien Project exploration potential

Longitudinal section – O'Brien East

Figure 2. Longitudinal section – O'Brien East

New Alger Sector

Figure 3. New Alger Sector

Visible gold found in drill hole OB-24-320

Visible gold found in drill hole OB-24-320

Visible gold found in drill hole OB-24-317

Visible gold found in drill hole OB-24-317

Exploration Potential – O'Brien Project

Historic O'Brien Mine

The historic O'Brien Mine is considered Quebec's highest-yielding gold producer, producing over 587,121 ounces of gold at 15.25 g/t Au during its production between 1926 and 1957. Based on the historical data and geometry of the O'Brien Mine, it is believed that 90% of the gold production came from a high-grade trend that formed at the intersection of a conjugated vein system. Although the O'Brien Mine currently hosts historical resources, the depth extent of this high-grade trend below the mine floor at 1,050 m has never been tested. As part of the expanded program, two pilot holes are planned that could eventually accommodate wedges to test the vertical extension of the prolific O'Brien Mine.

O'Brien East – area where most current resources are located

The resource expansion will focus on key targets from over 100 targets defined in proximity to the current resources at O'Brien East, primarily located at vertical depths between surface and 500 m in less explored areas such as high-grade trends (“Trends”) 3 and 4. Little-researched sectors, such as the sector between high-quality trends 1 and 2, are also targeted.

Given the current geological understanding and refined geological model, the Company believes there is significant potential for the discovery of additional high-grade gold trends along the 5.2 km long prospective land package in the prolific Larder-Lake Cadillac Break (“LLCB”). Mineral resources remain open a further 750 m to the east and are underexplored 2.5 km west of the historic O'Brien Mine. The continuity of mineralized zones along steeply dipping trends (80° to 85°) provides good predictability of resource growth and exploration potential.

The high-quality trends that are still open in the resources sector are:

  • Trend 0: Open to the west and below 750 m
  • Trend 1: Laterally open and below 950 m
  • Trend 2: Laterally open and below 900 m
  • Trend 3: Open laterally and below 500 m
  • Trend 4: Open laterally and below 500 m

O’Brien West

In 2023, modelling and reinterpretation of available drill data for the LLCB section of O'Brien West enabled the Company to determine estimated resources totalling 293,000 tonnes grading 7.59 grams per tonne (“g/t”) gold (“Au”) for 72,000 ounces.

While only limited exploration has been carried out in recent years on approximately 2.5 km of land along the prolific LLCB, O'Brien West remains open in all directions. Exploration targets based on a historic breakthrough of 5.63 g/t Au over 9.00 m, Investigations have been conducted in this sector and are expected to be incorporated into the drilling program at some point.

About the New Alger exploration target

New Alger is a 74 km2 Land package in the Pontiac sediments with geological features similar to those of the historic and active mines in the area, with potentially productive shear zones, intermediate to felsic dikes and intrusions present. The 2023 glacial moraine sampling program identified an area to the northwest of the property with 14 anomalous samples forming a south-trending gold grain tail, which was consistent with a geophysical survey to establish a 2 km drill target. Previous sampling in the area included the collection of a 7.33 g/t Au sample (boulder), indicating the presence of at least one gold-rich zone in the area.

Qualified person
Richard Nieminen, P. Geo, geological consultant to Radisson, is the Qualified Person as defined by NI 43-101. The Company's Qualified Person has reviewed and approved the technical content of this news release.

Radisson Mining Resources Inc.

Radisson is a gold exploration company focused on its 100% owned O'Brien Project, located in the Bousquet-Cadillac mining district along the world famous Larder Lake-Cadillac Break in Abitibi, Quebec. The Bousquet-Cadillac mining district has produced over 25,000,000 ounces of gold over the last 100 years. The project hosts the former O'Brien Mine, which was considered the highest yielding gold producer in Quebec during its production.

For more information about Radisson, please visit our website at www.radissonmining.com or contact:

Denis V. Lachance
Chairman, Interim President and CEO
819-806-3340
[email protected]

Kristina Pillon
Manager, Investor Relations
604.908.1695
[email protected]

Forward-looking statements

All statements, other than statements of historical fact, included in this news release, including, but not limited to, statements regarding the intended use of proceeds from the Offering, the development of the O'Brien Project and generally the “About Radisson Mining Resources Inc.” paragraph above, which essentially describes the Company's prospects, constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable securities laws and are based on expectations, estimates and projections as of the date of this news release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that the Company believes to be reasonable at the time such statements are made, but which by their nature are subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Many of these uncertainties and contingencies could have a direct or indirect effect and cause actual results to differ materially from those expressed or implied by forward-looking statements, and future events could differ materially from those anticipated in such statements. For a description of the assumptions used to develop such forward-looking information and a description of the risk factors that could cause actual results to differ materially from the forward-looking information, see Radisson’s disclosure documents on the SEDAR website at www.sedar.com.

By their nature, forward-looking statements involve risks and uncertainties, both general and specific. There is also a risk that estimates, forecasts, projections and other forward-looking statements will not be realized or that assumptions will not reflect future experience. Forward-looking statements are provided to provide information about management's efforts to develop the O'Brien Project and more generally its expectations and plans for the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause actual results to differ materially from the beliefs, plans, objectives, expectations, predictions, estimates, assumptions and intentions expressed in such forward-looking statements. All forward-looking statements made in this news release are subject to these cautionary statements and those in our other filings with Canadian securities regulators. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except as required by law.

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