09:52:25 EDT Wed 09 Jul 2025
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Renegade Gold Inc
Symbol RAGE
Shares Issued 45,299,920
Close 2024-09-12 C$ 0.25
Market Cap C$ 11,324,980
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Renegade Gold drills 2.7 m of 9.2 g/t Au at Newman Todd

2024-09-12 17:31 ET - News Release

Mr. Nav Dhaliwal reports

RENEGADE GOLD DRILLING CONTINUES TO INTERSECT HIGH-GRADE GOLD; EXPANDS WIDTH OF MINERALIZATION AT NEWMAN TODD IN RED LAKE, ONTARIO

Renegade Gold Inc. has released initial results from the second phase of drilling at its advanced Newman Todd deposit. Drilling to date has successfully increased mineralization at depth by an additional 500 metres, confirming the deposit extends down from surface to just over 800 m. Of particular importance, the results have also increased the overall width of the structure by up to 100 m near surface and confirmed new high-grade corridors within the hanging wall of the Newman Todd structure.

Highlights

  • Width of Newman Todd mineralization increased by up to 100 m near surface. Holes NT-24-017 and NT-24-018 specifically targeted an underexplored area in the footwall of the Newman Todd. The strong mineralization intersected by both holes from the east side of the Newman Todd structure confirms a significant increase in the near-surface mineralization.
  • Hole NT-23-017 intersected 9.2 grams per tonne Au (gold) over 2.7 m, 4.5 g/t Au over 2.5 m and 2.4 g/t Au over 18.0 m. These results add approximately 75 m width to the Newman Todd structure in the shadow of previous drilling.
  • Hole NT-23-018 intersected 9.8 g/t Au over 1.5 m and 2.8 g/t Au over 8.5 m, including 8.1 g/t Au over 1.0 m and 3.4 g/t Au over 4.4 m. These results add approximately 100 m width to the Newman Todd structure below previous drilling.
  • Results confirm significant down dip potential of the Newman Todd structure. Hole NT-23-016 intersected 4.9 g/t Au over 2.5 m at approximately 650 m below surface. Previous drilling was limited to a single hole at 835 m depth.
  • Hole NT-24-016 encountered strong mineralization in the 400 m gap between historical drilling and hole NT-129, further increasing continuity of the current geological model.
  • Through continuing analysis of the 2024 results, Renegade has identified significant geological parallels to other gold zones within the regional deformation fold corridor, which includes West Red Lake Gold's Rowan deposit and Mount Jamie zone. These insights will guide continuing exploration at the Newman Todd deposit and other prospective areas.

Nav Dhaliwal, president and chief executive officer for Renegade, commented: "Renegade Gold's 2024 drilling at the high-grade Newman Todd deposit has been a huge success and it speaks to the quality of our technical team, as well as the incredible potential of the project. In just one program, we have extended mineralization by an additional 500 m in depth and 100 m in width and have identified a number of new mineralized areas. The rapid growth we're seeing at Newman Todd suggests we've only just begun to unlock the value of this project, and the team is now hard at work planning our next steps."

About Newman Todd

The 100-per-cent-owned Newman Todd deposit is located approximately 26 kilometres west of Evolution's mining operations, just one km south of West Red Lake's Mount Jamie advanced deposit. The Newman Todd zone (NTZ) is the dominant host for gold mineralization on the property and is interpreted to span across the property boundary, over two km. The NTZ structure varies in width from 60 to 160 m and is open to depth throughout and is host to multiple styles of mineralization, including multiple breccia vein systems and late high-grade quartz veining, often associated with visible gold.

Recent drilling has given strong confidence that the Newman Todd structure and associated HG gold structures continue beyond a depth of 700 m, beyond double of the previous drill horizon. Increased intercepts of gold mineralization in the HW of the NTZ support that gold mineralization is more widespread than historically thought.

QA/QC (quality assurance/quality control)

Drill core is logged and sampled at a secure core processing facility in Red Lake, Ont. Core samples from the drill program are cut in half using a diamond cutting saw with half sent for assay at SGS Laboratories Ltd. in Red Lake, Ont. The other half is secured and retained at a secure storage facility. All samples are analyzed for gold using standard fire assay-AA techniques. Samples returning greater than 10.0 g/t gold are analyzed utilizing standard fire assay-gravimetric methods. In addition to SGS internal QA/QC procedures, certified reference materials, blanks and duplicates are routinely inserted into the sample stream as part of Renegades quality control/quality assurance program. Results are monitored regularly for contamination and accuracy.

The technical content of this news release has been reviewed and approved by Dale Ginn, PGeo, the executive chair and director of the company and a qualified person pursuant to National Instrument 43-101.

The company also announces that further to its news release of Aug. 8, 2024, it has closed its debt settlement transaction whereby the company settled $576,348.29 worth of debt to an arm's-length party by the issuance of 1,921,161 common shares of the company at a deemed price of 30 cents per share. All common shares issued under the debt settlement are subject to a hold period expiring Jan. 12, 2025.

About Renegade Gold Inc.

Renegade is a growth-focused company engaged in the business of acquisition, exploration and development of mineral properties located in the Red Lake mining district of Northern Ontario. As part of its regional-scale consolidation strategy, the company has assembled one of the largest prospective land packages in and around the Red Lake mining district in proximity to major mines and deposits, as well as along the Confederation Lake and Birch-Uchi greenstone belts. The 89,600-hectare prospective and diversified exploration portfolio has significant potential for gold and critical minerals on trend with the major structures hosting known gold occurrences in the Red Lake mining district today.

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