PAMLICO PROPERTY

About Pamlico Discovered in 1884, the Pamlico District rapidly gained a reputation as being one of Nevada’s highest grade districts. Held by private interests for most of its history, the property remains underexplored in terms of modern exploration. A new geological model being developed for the Pamlico Project by Newrange suggests that past production may be just the exposed manifestation of a much larger, and mostly buried, gold-bearing system.

• Unique, almost unexplored opportunity in Nevada (in private hands since 1896)
• District scale (1,670 hectares)
• High-grade, drill-confirmed, gold discovery

Newrange Gold’s exploration work for 2019 will continue to focus on the Company’s flagship high-grade Pamlico gold project located in Nevada’s Walker Lane with more target definition and reverse circulation (RC) drilling. Results to date have been highly successful, confirming district-scale gold discovery potential.

The Pamlico Project is a high-grade epithermal gold system hosted in Jurassic to Tertiary age volcanic and sedimentary rocks. Located in pro-mining Mineral County, Nevada, Pamlico is situated in the western Great Basin within the NW trending Walker Lane structural zone along the intersecting EW trending Pancake Range Lineament. A modern 600 foot decline was recently completed to develop a high-grade, drill delineated gold mineralization zone for test mining and recovery of gold. Two previously unidentified, coarse gold bearing structures were discovered in the decline and remain to be defined and explored.

The project covers the historic Pamlico Mines on Pamlico Ridge, together with the Central, Sunset, Good Hope, Gold Bar and various unnamed mines and prospects. Discovered about 1884, reports indicate that by 1886 the district was shipping ore to custom mills, most likely at the Aurora and Comstock (Virginia) Districts. A 20 stamp mill was constructed in 1888 / 1889 and operated through 1931. Drilling by the previous operators and owners intersected very high-grade mineralization as indicated by hole 99-3 that intercepted 4.6 meters grading 239.7 grams per metric tonne gold (g/t Au) and included 0.8 meters assaying 702.5 g/t Au in the Merritt Zone (Table 3). Check assays of representative intervals by an independent laboratory were reviewed and it corroborated reported grades.

The project is underexplored in terms of modern exploration with no property wide geology, geochemistry or geophysics done and with only 103 shallow holes drilled on the entire property when acquired in July 2016 by Newrange. Some 300 separate, historic mine workings mostly developed during the late 1800’s explore up to 100 individual veins. Pamlico’s history mimics the early history at currently producing high-grade gold mines in Nevada including the Ken Snyder (Midas) and nearby Fire Creek mines, both operated by Klondex Mines Ltd.

Based on the extent and the high-grade of the gold mineralization in historic surface and underground samples, the high-grade nature of historic gold production and available drill results, the Pamlico Project represents a unique opportunity to explore and develop a district scale, near surface, potentially high-grade gold deposit in multiple target areas across the property with small scale gold recovery potential from the current permits in place for test mining from the Merritt Decline.

There are multiple targets and target types evident at Pamlico, including:

• 1) Shallow, high-grade intersections such as the Merritt Zone including extensions along strike and up and down dip,
• 2) Large, potentially high-grade targets representing intersections of vein “swarms” which are projected to intersect at depth,
• 3) High-grade veins and mineralized structures indicated by numerous surface rock chip samples assaying from 29.8 g/t to 99.8 g/t Au,
• 4) Potential high-grade veins associated with the more or less EW trending Pancake Range Lineament exemplified by mineralization assaying 684 g/t Au in a historic grab sample from a vein trending approximately E-NE,
• 5) Downward projections of gold bearing structures into more favorable brittle volcanic units that host mineralization at Pamlico Ridge as they dip easterly beneath the younger carbonate sediments,
• 6) Potential high-grade replacement bodies in the brecciated contact zones between weak sediments and competent underlying volcanic rocks,
• 7) Potential high-grade veins, replacement bodies and disseminated, sediment hosted gold mineralization in the carbonate sediments of the Luning Formation,
• 8) Deep Seated gold – copper porphyry mineralization as indicated by district scale alteration, geochemistry and regional airborne magnetometry.