Mr. Jeff Poloni reports

AMERICORE RESOURCES IDENTIFIES NEW TARGETS AT TRINITY SILVER PROJECT

Interpretation of a recent drone magnetometer survey has identified additional targets for potential expansion of the mineralization at Americore Resources Corp.'s 100-per-cent-owned Trinity silver project in Pershing county, Nevada. Additionally, the company initiated a hyperspectral study to map out alteration patterns over the Trinity property.

Drone magnetometer survey interpretation

Data from the 350-line-kilometre drone survey has been interpreted by Campbell and Walker Geophysics. The interpretation incorporated standard geophysical modelling techniques such as first vertical derivative and tilt derivative, as well as multiscale edge detection and a structural analysis using the Centre for Exploration Targeting grid analysis. The CET grid analysis provides tools for texture analysis, lineation detection and vectorization, leading to the development of both structural complexity and orientation entropy heat maps.

From this analysis, the principal anomalous features appear to lie in Tertiary volcanics. An additional notable zone of structural complexity has been identified east of the current pit limits. Since the primary geological control over silver mineralization is interpreted to be structural, this interpretation will greatly assist in target selection.

The orientation entropy study shows a significant anomaly coincident with a historic grab sample that ran 1,690 grams per tonne silver and 4.33 g/t gold. Additional anomalies identified with orientation entropy suggest further targets immediately southwest of the current pit, as well as flanking to the east.

Hyperspectral study

The company has contracted Apollo Mapping Inc., of Denver, Colo., to acquire 30-centimetre Maxar imagery and 3.7-metre SWIR Maxar imagery over the full property. This imagery, also known as WorldView 3, is considered to be the gold standard for satellite imagery. World-leading hyperspectral specialist, Neil Pendock, of Cape Town, South Africa, has been contracted to interpret the imagery. The end product will be an interpretation of a package of 12 alteration patterns over the property. The package includes opal/chalcedony, calcite, chlorite, alunite, kaolinite, montmorillonite, sericite, buddingtonite, hematite, goethite, jarosite and iron oxide gossans.

Next steps

The combination of the hyperspectral alteration mapping and the magnetometer interpretation will lead to the identification of high-priority targets for expansion of the mineralized envelope on the property.

Management commentary

"The detailed evaluation of the drone survey has provided us with valuable structural and regional geological information, and has highlighted anomalous zones outside of the current historical resource area. Over the next few weeks, we will review the anomalous areas for further study," said Jeff Poloni, chief executive officer of Americore.

Qualified person

The technical information contained in this news release has been reviewed and approved by Chris M. Healey, PGeo, chief geologist and director of Americore, a qualified person as defined under National Instrument 43-101.

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