Getchell Gold Corp. Unveils Robust Preliminary Economic Assessment for Fondaway Canyon Gold Project, NV

Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) (FWB: GGA1) has released a robust Preliminary Economic Assessment (PEA) for its Fondaway Canyon gold project in Nevada, outlining an open pit mining and conventional 8,000 tonne per day (tpd) milling operation with an initial planned 10.5-year mine life. The PEA contemplates the production and sale of a high-grade concentrate to a local 3rd party refinery, with the project's economics significantly enhanced by the higher gold price of US$2,250.

The PEA highlights the potential for a robust economic open pit mining operation at Fondaway Canyon, with an estimated pre-tax NPV10% of $546 million and a pre-tax IRR of 51.2%. The project is expected to produce an average of 117,300 ounces of gold annually, with a total of 1.23 million ounces of gold recovered over the life of the mine.

The Fondaway Canyon project is an advanced exploration stage gold property located in Churchill County, Nevada, approximately 170 kilometers east of Reno. The project has a significant mineral resource estimate, with an Indicated Mineral Resource of 13.5 million tonnes at an average grade of 1.49 grams per tonne (g/t) gold for 648,000 ounces of gold and an Inferred Mineral Resource of 44.8 million tonnes at an average grade of 1.16 g/t gold for an additional 1,670,100 ounces of gold.

The project's mineralization is open for further expansion in most directions along strike and dip, with a significant oxide component that could have major implications for the potential development and economics of a future operation at Fondaway Canyon.

Getchell Gold Corp. has a strong management team and board, led by President Mike Sieb and Chairman Bob Bass, with extensive experience in the mining and exploration industry. The company is well-positioned to execute on its strategic plans and maximize shareholder value.

In conclusion, the Preliminary Economic Assessment for the Fondaway Canyon gold project demonstrates the significant potential of the project, with robust economics and a strong management team. As the gold price continues to rise, the project's economics are expected to improve, further enhancing its attractiveness to investors. Getchell Gold Corp. is well-positioned to capitalize on the growing demand for gold and create value for shareholders.