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Alliance Mining completes 100% acquisition of Red Rice Lake gold project in Bissett Gold Camp, Manitoba

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The Red Rice Lake gold property claims are located in the centre of Manitoba’s Bissett gold camp, close to the town of Bissett, which forms part of the Uchi sub-province that includes the Red Lake and Pickle Lake belts in Northwestern Ontario.

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Additional Information:

Company: Alliance Mining
Website: http://www.alliancemining.com
Stock Symbol: TSXV: ALM
Date Published: May 13, 2020
Transcript: Available

Video Transcript:

I’m Fiona Forbes for Investmentpitch Media

Alliance Mining Corp. has completed its acquisition of 100% of the Red Rice Lake property in Manitoba.

The Red Rice Lake gold property claims are located in the centre of Manitoba’s Bissett gold camp, close to the town of Bissett, which forms part of the Uchi sub-province that includes the Red Lake and Pickle Lake belts in Northwestern Ontario.

The Uchi Sub-province has produced more than 15 million ounces of gold, with production from the Bissett-Rice Lake belt exceeding 1.7 million ounces.

The Packsack gold property, part of the company’s Red Rice Lake gold project, is located just 4 kilometers from 1911 Gold Corporation’s True North gold mine.

1911 Gold plans to begin its 2020 tailings reprocessing season at its True North complex by the third week of May as Manitoba is currently reopening its economy in stages.

Alliance earned its 100% interest in the Red Rice Lake property by paying Tiberius Gold Corp the final two payments of $250,000 each by issuing 10 million shares.

Alliance’s Red Rice Lake Gold property totals 801 hectares and comprises four non-contiguous claim groups, with numerous veins present on both the Packsack and CUPP claim groups.

In March 2018, Alliance reported drill results from the Packsack zone, with drill hole PK-18-4 intersecting 21.2 metres grading 0.86 grams per tonne gold, including 1.78 grams per tonne over 8.7 metres in the Big Dome vein, all within a large altered mafic dike.

These drilling results have caused a re-interpretation of the Packsack zone from a narrow vein target, to a wider, open-pittable zone encompassing the entire Packsack group of veins, including the Big Dome, Hargraves, Golden Stairway, Central Montcalm and South Montcalm veins, all within a mineralized sericite-alteration envelope.

The structural control on veining at the Packsack property is similar to that at the nearby True North Mine.

The shares are trading at $0.005.

For more information, please visit the company’s website www.alliancemining.com, contact Antony Claydon, Investor Relations, at 604-488-3900 or email ir@alliancemining.com

I’m Fiona Forbes for Investmentpitch Media