Big Ridge Gold Provides Corporate Update and 2025 Objectives

Toronto, Ontario–(Newsfile Corp. – January 15, 2025) – Big Ridge Gold Corp. (TSXV: BRAU) (OTCQB: ALVLF) (“Big Ridge” or the “Company“) is pleased to provide an update on the Company and ongoing work at the Hope Brook Gold Project (“HBGP“) located on the southwest coast of Newfoundland and Labrador.

2024 Highlights

  • Finalized earn-in to 80% of HBGP.
  • Completed Hope Brook Environmental baseline work at site.
  • Commenced ore sorting and Copper and Gold deportment studies for the HBGP.
  • Completed several field programs on the southwest extensions of the Main and 240 Zones at the HBGP.
  • Closed the Destiny Gold Project earn-in agreement with Caprock Mining.

Michael Bandrowski, President & CEO of the Company, commented: “2024 was a significant year for Big Ridge. The Company renegotiated the Hope Brook earn-in agreement, increasing its ownership to 80% and reducing required project expenditures by approximately $6 million. Geophysical results from the HBGP established several kilometers of new drill targets southwest of the current resource estimate, and was the focus of further field work in the second half of 2024. In addition, the Company completed Environmental Baseline studies and commenced work on additional ore sorting and deportment studies at Hope Brook.”

Next Steps

  • Release exploration results from the 2024 field program, including sampling and assay results from the southwest extensions of the Hope Brook deposit, most notably the Chetwynd and Cinq Cerf areas.
  • Finalize drill targets on newly defined extensions to Main and 240 Zones.
  • Provide update on ore sorting and deportment study results from Hope Brook.
  • Compile field studies and finalize Hope Brook Gold Project Environmental Baseline Report.

Qualified Person

Paul Robinson, P. Geo., Vice President Exploration for Big Ridge, a Qualified Person within the meaning of NI 43-101, Standards of Disclosure for Mineral Projects, has reviewed and approved the technical information contained in this news release.

About Hope Brook

The Hope Brook Gold Project is an advanced stage, high-grade gold project that produced 752,162 ounces of gold from 1987 – 1997. Initial production consisted of an open pit before moving to underground mining. Hope Brook operated using both heap leach (1987 -1990) and conventional cyanidation milling methods (1989-1997) with a later inclusion of flotation concentration to recover copper (1991). Government records indicate that gold recoveries from milling ranged between a low of 78.8% in 1987 and a high of 85.9% in 1989. Government and company annual reports indicate that gold recoveries ranged between a low of 82.1% in 1994 and a high of 89.83% in 1996 following a change of ownership. Copper flotation produced a concentrate at approximately 22% Cu and 34.3 g/t Au for shipment in 1992.

Hope Brook hosts an Indicated gold resource totalling 16,190,000 tonnes grading 2.32 grams per tonne gold for 1.2 million ounces and Inferred resources totalling 2,215,000 tonnes grading 3.25 grams per tonne gold for 231,000 ounces based on a 0.4 and 2.0 gram per tonne cut-off grades for open pit and underground resources respectively using a long-term gold price of US$1,750.

The Hope Brook gold deposit is a high-sulfidation epithermal gold deposit hosted in the Proterozoic aged Whittle Hill Sandstone and is intruded by a Late Proterozoic quartz-feldspar porphyry sill-dike complex of the Roti Intrusive Suite. The deposit is located adjacent to and within an extensive advanced argillic alteration envelope which includes pyrophyllite, kaolinite, andalusite, and alunite. The principal gold mineralization occurs in a buff-colored massive, vuggy silicic alteration with an associated, less developed grey silicic alteration with pyrite, chalcopyrite and lesser bornite accessory minerals. Gold mineralization is also found with pyrite in units of advanced argillic alteration adjacent to or near silicic alteration horizons. The altered and mineralized zone is cut by mafic dykes whose contacts are often mineralized. All the altered and mineralized sequences and the intruded dykes have been folded.

Hope Brook is located 85 kilometers east of Port aux Basques, Newfoundland. The project has well maintained infrastructure on site, including an operational 28-person camp, an 1,100-meter airstrip, ice-free docking facility and importantly, connection to the provincial electrical power grid via an on-site substation.

About Big Ridge Gold Corp.

Big Ridge Gold Corp. is an exploration and development company managed by a disciplined and experienced team of officers and directors. The Company is committed to the development of advanced stage mining projects using industry best practices combined with