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Royal Fox Gold has reported assays from its 2022 campaign on the Gilbert gold deposit, Quebec, including 1.69 g/t gold over 35.6 metres including 3.06 g/t gold over 13.0 metres.

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Royal Fox Gold (TSXV:FOXG) has reported assays from its 2022 campaign on the Gilbert gold deposit, Quebec, including 1.69 g/t gold over 35.6 metres including 3.06 g/t gold over 13.0 metres. Investors can expect a continued flow of information as results from 93 holes from the 2022 campaign are still pending.

Additional Information:

Company: Royal Fox Gold
Website: https://royalfoxgold.com/
Stock Symbol: TSXV:FOXG
Date Published: May 18, 2022
Transcript: Available

Video Transcript:

Royal Fox Gold (TSXV:FOXG) has reported assays from its 2022 campaign on the Gilbert gold deposit, including 1.69 g/t gold over 35.6 metres including 3.06 g/t gold over 13.0 metres.

The 5,393-hectare, road accessible, Philibert Project is located 60 kilometres southwest of Chibougamau.

The project is located 9 kilometres from IAMGOLD’s Nelligan Gold project, which was awarded the “Discovery of the Year” by the Quebec Mineral Exploration Association in 2019.

Royal Fox is reporting today the complete results for 12 drill holes which tested the Red Fox Zone over a 650-metre strike length and up to 400 metres vertical depth within the footwall of the Philibert trend.

These results include three holes drilled near surface along the southern most trend of the Red Fox zone over an 80-metre strike length that returned some compelling grade and width intersections.

Investors can expect a continued flow of information as results from 93 holes from the 2022 campaign are still pending.

Highlights from today’s announcement include

Hole 327A with 2.58 grams per tonne gold over 7.0 metres from 490.3 to 497.3 metres and 1.70 grams per tonne gold over 13.6 metres from 511.2 to 524.8 metres including 4.36 grams per tonne gold over 2.4 meters from 516.9 to 519.3 metres;

Hole 335 with 0.85 grams per tonne gold over 39.3 metres from 15.7 to 55.0 metres including 1.1 grams per tonne gold over 13.0 metres from 15.7 to 28.7 metres and including 1.00 grams per tonne gold over 16.3 metres from 39.7 to 55.0 metres;

Hole 336 with 1.69 grams per tonne gold over 35.6 metres from 26.5 to 62.1 metres including 3.06 grams per tonne gold over 13.0 metres from 30.0 to 43.0 metres, and including 4.77 grams per tonne gold over 2.0 metres from 51.0 to 53.0 metres;

Hole 337A with 0.95 grams per tonne gold over 19.0 metres from 30.4 to 49.4 metres including 1.55 grams per tonne gold over 4.6 metres from 43.8 to 48.4 metres;

Hole 344 with 0.66 grams per tonne gold over 21.8 metres from 71.1 to 92.9 metres including 0.92 grams per tonne gold over 13.3 metres from 71.1 to 84.4 metres; and

Hole 348 with 0.87 grams per tonne gold over 24.5 metres from 67.5 to 92.0 including 1.64 grams per tonne gold over 7.0 metres from 85.0 to 92.0 metres, and

Hole 364 with 1.10 grams per tonne gold over 13.0 metres from 102.5 to 115.5 metres;

Simon Marcotte, President and CEO, stated: "Rarely are we presented with such an opportunity to begin an exploration venture with over 60,000 metres of drilling already completed and more than $10,000,000 already spent in advanced exploration while retaining such blue-sky potential. Additionally, we now have to look at this historical data through a completely different lens. Not only a different gold price environment is prevailing, but the recent discovery of the Nelligan Project greatly increases the likelihood of milling capacity in the immediate area and has transformed the Philibert Project as a potential pillar in this rapidly emerging gold camp. The results announced today include meaningful grades and widths intersected at the Red Fox Zone at surface and at depth which continue to demonstrate continuity of the mineralization system along strike and down dip.”

The company is focused on de-risking the asset and releasing a maiden NI 43-101 resource estimate, to be completed by GoldMinds Geoservices Inc. later this summer.

The Philibert Project is owned by SOQUEM, a subsidiary of Investissement Québec, which is dedicated to promoting the exploration, discovery, and development of mining properties in Quebec.

Royal Fox is currently undergoing an ownership option process, details of which can be found in the corporate presentation available on the company's website.

The shares are trading at $0.07.

For more information, please visit the company’s website at www.RoyalFoxGold.com, contact Simon Marcotte, President and CEO, at 647-801-7273, or email SMarcotte@RoyalFoxGold.com.