Vancouver, BC, Canada – May 11, 2022 – Gold Line Resources Ltd. (TSX-V: GLDL) (“Gold Line” or the “Company”) reports that it has successfully concluded a reinterpretation of a 2015 helicopter airborne magnetic geophysical survey by SkyTEM Surveys ApS over the 100% owned Paubäcken project located in the Gold Line Belt, northern Sweden.

The survey results have been integrated with known surface and bedrock geology, alteration, and mineralization as well as data from 141 drill holes to produce a 2D structural architecture map. The interpretation was completed by Dr. Perry Eaton, a consulting geophysicist with 35 years experience working primarily during this time for Newmont Mining Corp. (www.minexgp.com)

Highlights – Paubäcken Geophysics Interpretation

  • First and second order high strain structural network mapped.
  • Demagnetization zones and potential small intrusions identified along structural corridors.
  • Multiple priority areas of interest identified with significant discovery potential.
  • Provides foundation for systematic till and bedrock sampling programs in 2022.

The completed geophysical interpretation has identified and confirmed numerous high priority targets. The study also demonstrated that gold and pathfinder element anomalism observed in glacial till and bedrock geochemistry are coincident with high strain structural corridors interpreted from the geophysical data at all target areas on the Paubäcken project.

“The targets delineated from this reinterpretation of the aeromagnetic survey data, historical rock sampling and historic diamond drill results have provided Gold Line with high priority targets for this year’s exploration program,” said Adam Cegielski, CEO of Gold Line Resources. “We are excited to use this information to potentially expand current, and identify new, large hydrothermal footprints associated with significant orogenic gold systems.

Structural interpretation maps of the Paubäcken project area have now been created combining geophysical data with known basement and outcrop geology.

Structural framework interpretation of the Paubäcken project area
Figure 1: Structural framework interpretation of the Paubäcken project area showing interpreted first and second order structural features, known intrusions and zones of demagnetization.

The geophysical interpretation has identified the regionally significant N-S trending first order Gold Line structural corridor to which all known mineralization within the gold line belt displays a spatial relationship. At Paubäcken, this structure forms the western margin of a package of highly folded and deformed basin sedimentary, volcanic and intrusive rocks that host historic and newly identified mineralization within the belt. Of particular interest is the identification of multiple NW-SE trending second order structural corridors interpreted to be conjugate splay structures off the main structural corridor. These second order structures commonly control and host mineralization in orogenic systems and are high priority exploration targets. The study also identified several areas of apparent demagnetization coincident with first and second order structural corridors which may be associated with hydrothermal alteration footprints related to gold mineralization, and with small intrusions that can act as hosts for gold mineralization and that are also high priority exploration targets.

Paubäcken – Project Overview

The Paubäcken Project consists of 3 licenses (17,097 ha) that cover the central part of an emerging district in north central Sweden known as the “Gold Line Belt”. The Gold Line Belt is host to several significant gold deposits, including the nearby Barsele project (operated as a joint venture between Agnico Eagle Mines Ltd. and Barsele Minerals Corp) as well as the Svartliden mine and Fäboliden development project (operated by Dragon Mining Ltd). The Svartliden mine was in production from 2005 to 2015 and a total of 3.18 million tonnes of material grading 4.1 g/t Au was processed during its operation (http://www.dragonmining.com/svartliden). The Paubäcken Project is strategically positioned between Barsele and Fäboliden, is a few hundred meters northeast of the Svartliden mine, and features a regional shear zone with multiple untested gold anomalies.

Qualified Person:

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Benjamin Gelber, M.Sc., P.Geo., a Qualified Person.

About Gold Line Resources Ltd.

Gold Line Resources is focused on acquiring mineral properties with exceptional exploration potential in the most prolific gold-producing regions of Sweden and Finland. Gold Line is working in two of the world’s top mining jurisdictions and emerging exploration frontiers due to their strong mineral endowment, stable tenure, straightforward permitting, favourable tax regime and supportive geopolitical landscape.

Gold Line currently holds a prospective portfolio of gold exploration projects in Sweden and Finland. In Sweden projects are located in the Gold Line Mineral Belt and Skellefteå Belt of north-central Sweden, and the Mjøsa-Vänern Belt in southwest Sweden. In Finland Gold Line holds the entire underexplored Oijärvi Greenstone Belt located in northern Finland.

On behalf of the Board of Directors of Gold Line Resources,
Adam Cegielski
CEO & Director

For further information:
Email: [email protected]
Telephone: 1-800-858-9710

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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains statements that constitute “forward-looking statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Gold Line’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Forward-looking statements in this news release include statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: that exploration and development activities will not be completed as planned; that the results of exploration and development activities will not be as anticipated. Gold Line may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect Gold Line’s business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of Gold Line’s securities, regardless of its operating performance; and the impact of COVID-19. The forward-looking statements contained in this news release represent the expectations of Gold Line as of the date of this news release and, accordingly, are subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. Gold Line undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

Geophysical data and its interpretation are essential exploration tools, especially in areas that are under cover and not exposed to surface. The Paubäcken project area has been subjected to two recent significant glaciation events during the last ice age, resulting in a veneer of glacial till ranging from zero to >30 m in depth and covering >85% of all bedrock exposure. The glacial till layer transports and masks the geochemical signal of bedrock hosted mineral deposits and limits direct field observation of geological and structural information. Geophysics is a fundamental tool utilized by Gold Line Resources to “see” below the cover material and provide a geological and structural framework to guide all exploration programs.

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