Tombill Mines (TBLL.V): Provides Exploration Update on its Flagship Project

Vancouver, British Columbia–(Newsfile Corp. – June 3, 2021) – Tombill Mines Limited (TSXV: TBLL) (the “Company” or “Tombill”), is pleased to give an exploration update at its 100% controlled, royalty-free flagship and patented Tombill Main Group property within the heart of the Geraldton Gold Camp.

Highlights

1. Surface Exploration Program:

• Surface stripping and sampling program is underway
• Multiple new targets identified from recently collected airborne magnetics data
• Grab samples from the East Porphyry Zone returned 24.3 and 14.9 grams per tonne (gpt)

2. Deep Drilling Program:

• Phase One drilling at Tombill Main Group is ongoing with a total of more than 6.6 km completed on five parent holes and two daughter wedge holes
• Assay results should be released over the next few months

Adam Horne, CEO, commented: “Our technical team are doing a fine job in executing our drilling and surface program. In line with our neighbour, we are hoping to present a diversified gold system including extensions of known lodes at depth but also new discoveries at our multiple near-surface targets. We have an aggressive exploration program this year, the first modern exploration program on this highly prospective property. We look forward to good news on several fronts over the course of the next few months.”

Surface Exploration Program Update

Detailed magnetic data from Tombill’s Unmanned Aerial Vehicle-Magnetometer Survey (“UAV-MAG Survey”) has been utilized to create new near-surface targets, based on refolded lithologies and east-west structures oblique to regional foliation (Figure 1).

The magnetics map has been analysed together with geology mapping and historic showings resulting in definition of multiple new targets. Tombill has now identified a total of ten surface targets including the past producing Talmora Mine. Near-surface targets are being accessed with bulldozer trails in preparation for stripping of overburden to facilitate detailed mapping and channel sampling. Tombill is continually updating a Bayesian ranking system as more data is acquired in order to refine and rank targets for exploration. The goal of surface exploration is to identify near-surface targets, those defined as extending down to 300 m depth, that will be tested by drilling in Q2/Q3 2021.

Figure 1 – Magnetics MapMagnetics map of first-vertical derivative from UAV-MAG Survey in 2021, with Tombill’s drill collars from Deep Exploration Program, together with historic gold zones and new targets.

Assay Results from Grab Samples of Historic Trenches

Trails have been completed to the various targets and historic showings are being evaluated. The highest ranked surface target is the East Porphyry Zone which saw limited sampling and drilling in the 1930’s. The first pit encountered was subjected to grab samples of mineralization as shown in Figure 2.

Figure 2 – Historic SamplingFirst sampling of historic trench in East Porphyry Zone, in May 2021.

Grab samples were taken in the first trench from the East Porphyry Zone and submitted for assay, results in Table 1 below show the sample number followed by the co-ordinate location and a brief description of the rock.

Amongst multiple samples, the Greywacke and mineralized Banded Iron Formation (BIF) in the first trench sampled within the East Porphyry Zone returned samples of 24.3 and 14.9 gpt gold, respectively. Samples 447972 and 447959 contain coarse-grained disseminated pyrite with silica that replaced the magnetite bands. This is similar mineralization as the North Zone ore that was mined from the historic underground mines on the adjacent Hardrock Project. A photo of that mineralized sample 447959 is shown in Figure 3.

The Company cautions that grab samples have no widths associated with them and are not necessarily indicative of the mineralization on the Tombill Main Group. They are used to assist in pinpointing the first areas to be assessed by stripping and channel sampling.

Mineralization is adjacent to a quartz-feldspar porphyry (QFP) dyke that is sericite-altered. The QFP is the same dyke that extends from the proposed open pit at the Hardrock Mine and is also the same QFP associated with F-Zone type mineralization at depth as outlined by Tombill’s deep exploration program.

Figure 3 – Mineralised Iron FormationClose-up of mineralized iron formation from East Porphyry Zone, showing coarse-grained pyrite and quartz veinlets replacing magnetite bands. Grab sample 447959 returned 14.9 gpt gold
.

Deep Drilling Program Update

Phase One drilling at Tombill Main Group is ongoing with five main holes completed and two planned wedges.

• Daughter hole TB21-001A was completed to a downhole depth of 1220 m and intersected the target zone. 397 samples have been sent for assay.
• TB21-002 was completed to a down-hole depth of 1453 m. 505 samples were sent for assay.
• TB21-003 was drilled to 891 m down-hole, but was abandoned due to encountering a large water-filled cavity. 339 samples were sent for assay.
• TB21-004 was completed at a down-hole depth of 1394 m and intersected the target zone. 626 samples were submitted for assay.
• TB21-005 was drilled to a down-hole depth of 875 m. 310 samples were submitted for assay.

Drill hole TB21-005 was wedged at 600 m to drill the daughter hole TB21-005A. This is ongoing and on-track to intersect the central part of the target zone. The hole is currently at 975 m downhole depth.

Figure 4 – Core Shack

As of May 8, 2021, Tombill’s Phase One drilling program has been executed by Rodren Drilling.

Figure 5 – Rodren Drilling

A second Rodren drill arrived earlier this week, and is accelerating the program. Drill Hole TB21-004 will be wedged and daughter hole TB21-004A will be drilled.

To date, more than 6.6 km of core have been drilled. When assays are received from the present drill-holes, a synopsis of the deep drill results should be released over the next few months.

Qualified Person

Glen Kuntz, P.Geo, of Nordmin Engineering Ltd., is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects and has reviewed and approved its scientific and technical content.

The Company cautions that its Qualified Person has been unable to verify the information concerning the Hardrock Project and that this information is not necessarily indicative of the mineralization on the Tombill Main Group.

About Tombill

Tombill owns various royalty-free mineral exploration and past-producing gold properties in the Geraldton and Beardmore Camp, Ontario. The Company’s business is mineral exploration, primarily gold. It has 74 claims: 60 are owned and patented, five leased, and nine where it owns the mineral rights. Of these, the Tombill Main Group property comprises 58 claims: 54 owned patents, and four owned mineral rights. The Tombill Main Group claims were originally staked in the first Geraldton Gold Rush in the 1930’s by Tom Johnson and his brother Bill.

For more information, please visit www.tombillmines.com, and contact:

Adam Horne
Chairman & Chief Executive Officer
Email: [email protected] / Tel: +44 (0) 207 529 2351

Reda Jalabi
Strategic Development
Email: [email protected] / Tel: +44 (0) 207 529 2361

Cautionary Note Regarding Forward-Looking Information

Certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the trading date of the Company’s common shares on the TSXV. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “will” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. 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. Readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

Additional information identifying risks and uncertainties is contained in filings by the Company with the Canadian securities regulators, which filings are available at www.sedar.com.

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