NEW CAROLIN GOLD

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New Carolin Identifies Four Targets At Ladner - Exploration Plans

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New Carolin Gold is a Canadian-based junior company focused on the exploration, evaluation and development of our 100% owned property consisting of 144 square kilometers of contiguous mineral claims and crown grants, collectively known as the "Ladner Gold Project" (Project). The Project is located near Hope, BC in the prospective and under-explored Coquihalla Gold Belt, which is host to several historic small gold producers including the Carolin Mine, Emancipation Mine and Pipestem Mine, and numerous gold prospects.


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Exploration Plans for 2019

January 15, 2019 / TheNewswire / New Carolin Gold Corp. (the "Company" or "New Carolin") (TSXV: LAD | OTCBB: LADFF): New Carolin is pleased to announce plans for the upcoming year at its 100% owned Ladner Gold Project, which includes the Carolin Gold Mine 18 kms northeast of Hope, British Columbia. During 2018, the Company completed a share consolidation, which with the completion of three financings has resulted in 31,777,175 common shares currently issued and outstanding. The financings enabled the preparation of the underground for drilling and completion of a 13 hole drill program.  Merger Mania Strikes Gold Miners

The program was principally designed to validate historic drilling and advance the development of potential targets to expand the 2012 inferred resource of 278,000 ounces Au (2.6 million tonnes at 3.34 g/t grams-per-tonne gold (g/t Au) at a 2 g/t Au cutoff grade)1. These potential targets were announced in the Company's press release dated October 17, 2018. Recent drilling of these targets is highlighted by results from drill hole 18NC10 that intersected 93 meters averaging 1.39 g/t Au; including 7 meters of 5.75 g/t Au. This hole was drilled diagonally across two widely spaced historic holes, 11050-60 and 11000-71 that returned significant broad gold mineralized intercepts that were not followed up until 2018. Collectively the historic drill holes and holes drilled in 2018 confirm the expected geology and mineralization in the Main Zone and encountered an additional lower zone that is offset 200 metres to the southwest, referred to as the Hozameen Zone.

The current and historic drilling confirms the presence of a significant new zone of gold mineralization, offset to the west that is distinct from the Carolin Mine Main Zone. The current geological interpretation of the Company's Main Zone includes mineralization hosted within the limbs and fold axis of a shallow northwest plunging anticline. The discovery of a broad zone of gold mineralization within drill hole 18NC10 is significant in that it may represent a parallel fold structure, offset from the Carolin Mine Main Zone.

In addition to the underground targets at the Carolin mine, New Carolin's land holdings contain four other historic mines and 24 other known gold showings. Geological consultants are presently developing additional drill targets near or beneath these other mines and gold showings. In 2019, subject to financing, the Company intends to carry out a 4,000 to 5,000 meter drill program to test new underground targets and surface targets near or beneath the other historic gold mines and gold showings on the property.

The President of New Carolin, Kenneth Holmes, stated "We are very excited to begin drilling. The discovery of the new zone by drill hole 18NC10 has added considerable potential to the Project. It's exceptional to find a land package of this scale that has both considerable historic gold production with an existing gold resource and is also relatively unexplored with modern techniques. We expect that our next round of drilling will more than justify our enthusiasm."

Ladner Gold Project

In addition to mineral resources at the Carolin Mine, the Ladner Gold Project comprises an area of approximately 144 square-kms that extends 28 km along strike of the Coquihalla Serpentine Belt, an elongated north west to south east striking belt of oceanic rocks bounded to the west by the Hozameen fault system. This rock unit and fault system separates the Hozameen Group (an obducted ophiolite sequence) to the West from the Ladner Group sediments and Spider Creek Formation greenstones to the East. It is a regional-scale structure that exerts strong control on the distribution of five (5) historic mines (Carolin, Emancipation, Aurum, Pipestem and Ward) and 24 other known gold showings.

The majority of the gold occurrences, other than the Carolin Mine, have had little or no follow-up work via modern day exploration techniques. It is for this reason that, subject to financing and in addition to its planned underground drilling, the Company plans to develop and test several surface targets related to the other historic mines and gold occurrences on the property.

Mineralization, that has been found disseminated in sedimentary sequences, high grade quartz veins and in contact zones with serpentinite, extends through the mountainous terrain for over 28 kilometers and up to 700 meters of vertical relief. Management believes that the remarkable amount and distance between showings is evidence of a large and robust mineralizing event that has emplaced gold in numerous host environments regionally.

At the Carolin Mine, mineralized zones are up to 30 meters in true thickness and occur as a moderate northwest plunge that can be traced 500 meters down plunge and 300 meters vertically over eight levels of historic underground development. The mineralized zones outcrop on surface at the southeast, up-plunge extent and remains open down-plunge to the northwest. Several other targets occur along strike of the Carolin Mine, the nearest includes the McMaster zone located 700 metres to the northwest.

This geological environment is very similar to the Bralorne mine, which was the largest gold producer in the British Commonwealth until 1972. Serpentinite represents ancient oceanic crust that has been obducted onto the continental margin along ancient faults that provide structural conduits for gold bearing fluids.

For more details regarding the Company's Ladner Gold Project and Mineral Resources, see the Company's National Instrument 43-101 Technical Report for the Ladner Gold Project dated May 29, 2015 (the "Company's Technical Report") and filed on SEDAR.

All disclosure of scientific or technical information made herein, including any disclosure of a mineral resource or mineral reserve, is based upon information prepared by or under the supervision of Trevor Rabb, P.Geo. (BC), a qualified person as defined by National Instrument 43-101. Mr. Rabb has reviewed and approved the scientific or technical content of this news release as it relates to the Carolin Mine and Ladner Gold Project.

About New Carolin Gold Corp.

New Carolin Gold is a Canadian-based junior company focused on the exploration, evaluation and development of our 100% owned property consisting of 144 square kilometers of contiguous mineral claims and crown grants, collectively known as the "Ladner Gold Project" (Project). The Project is located near Hope, BC in the prospective and under-explored Coquihalla Gold Belt, which is host to several historic small gold producers including the Carolin Mine, Emancipation Mine and Pipestem Mine, and numerous gold prospects.

For additional information, please visit the Company's website at www.newcarolingold.com.

ON BEHALF OF THE BOARD OF DIRECTORS

 

Web site: www.newcarolingold.com

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or the accuracy of this press release.

Caution concerning forward-looking information

This news release may contain forward-looking statements that are based on the Company's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.

1 The current Carolin mine Mineral Resource was calculated in a technical report authored by W.A.Dzick and C. Pearson, dated May 15, 2012, and titled "NI43-101 Mineral Resource Estimates on the Carolin Mine and McMaster Zone, Ladner Gold Project.

Copyright (c) 2019 TheNewswire - All rights reserved.

 

New Carolin Gold Corp. Announces Completion of Unit Offering

VANCOUVER, British Columbia, Dec. 19, 2018 (GLOBE NEWSWIRE) -- New Carolin Gold Corp. (the “Company” or “New Carolin”) (TSXV: LAD / OTCBB: LADFF) reports that it has closed its non-brokered private placement of units previously announced on November 23, 2018.  On closing, the Company issued 2,459,999 Units at $0.15 per Unit for gross proceeds of $369,000.  Each Unit is comprised of one common share and one share purchase warrant (“Warrant”), with each Warrant entitling the holder to purchase one additional common share at a price of $0.25 per share for a period of twenty-four months from closing. Proceeds of the Unit offering will be used for continued development of the Company's Ladner Gold Project in southwestern British Columbia and general working capital.

In connection with the private placement, the Company paid finder’s fees in respect of subscribers introduced to the Company, which consisted of cash payments in the aggregate amount of $8,100 and the issuance of 54,000 broker warrants (“Broker Warrants), with each Broker Warrant entitling the holder to purchase one additional common share at a price of $0.25 per share for a period of twelve months from closing.

All securities issued under the private placement are subject to a four month and one-day restricted resale period expiring on April 20, 2019 in accordance with the policies of the TSX Venture Exchange and applicable securities laws.

About New Carolin Gold Corp.

New Carolin Gold is a Canadian-based junior company focused on the exploration, evaluation and development of our 100% owned property consisting of 144 square kilometers of contiguous mineral claims and crown grants, collectively known as the “Ladner Gold Project” (Project).  The Project is located near Hope, BC in the prospective and under-explored Coquihalla Gold Belt, which is host to several historic small gold producers including the Carolin Mine, Emancipation Mine and Pipestem Mine, and numerous gold prospects.

For additional information, please visit the Company’s website at www.newcarolingold.com.

ON BEHALF OF THE BOARD OF DIRECTORS

"Kenneth R. Holmes"

President

Phone: (778) 379-1275
Toll Free: 1 (855) 891-9185
E-mail: info@newcarolingold.com
Web site: www.newcarolingold.com

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or the accuracy of this press release. 

Caution concerning forward-looking information

This news release may contain forward-looking statements that are based on the Company’s expectations, estimates and projections regarding its business and the economic environment in which it operates.  These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict.  Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements.  Statements speak only as of the date on which they are made and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.

New Carolin identifies four targets at Ladner

2018-10-17 20:13 ET - News Release

Mr. Kenneth Holmes reports

NEW CAROLIN GOLD CORP. ANNOUNCES POTENTIAL QUANTITY AND GRADE OF FOUR NEAR-MINE TARGETS TO ADD TO CAROLIN MINE

New Carolin Gold Corp. has identified four near-mine targets at the company's 100-per-cent-owned Ladner gold project, which includes the historic Carolin gold mine, just 18 kilometres northeast of Hope, B.C., a permitted project with extensive underground development, a well-maintained and permitted tailings storage facility, and access to power and water.

The four targets are referred to as the Hozameen Zone, Aurum, Aurum Connector and Aurum Deep Targets.

The potential quantities and grades of these exploration targets are summarized as follows:

Target               Tonnes                       Grade (Au, g/t)Au (g)              Au (oz)       
                     From            To           From    To     From      To        From    To     
Hozameen             356,000  a      600,000      2.30    3.70   3,661,800 3,836,400 117,700 123,300
Aurum & Aurum Deep   412,830  b      1,078,000    1.72    3.10   3,557,800 5,154,600 114,400 165,800
Aurum Connector      93,000  c       194,000      1.72    3.10   801,500   927,600   25,800  29,800 
                                                               Total Au (oz)        258,000  319,000
a - Based on target  80 x 5 x 320
b - Based on target  550 x 9 x 30
c - Based on target size of 280 x 4 x 30               
                                                                                                                                                         

The potential quantity and grade for the Hozameen zone, Aurum, Aurum Connector and Aurum Deep exploration targets set out above and everywhere else in this news release are conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

In addition to these immediate exploration targets, the respective zones are open in all directions, can be drilled year-round from the existing underground workings with relatively short holes and would be a natural extension of the existing mine.

In addition to these exploration targets, the Ladner Project also contains previously announced mineral resources and numerous other exploration prospects on its 27 kms long property straddling the Hozameen Fault. The Carolin mine is a permitted project with extensive and operational underground development, a well maintained and permitted tailings storage facility and access to power and water.

In the 1982, 1983, 1984 period during which the Carolin mine was previously in production, the annual average production grades, as reported in the Company's Technical Report (see definition below), ranged from .087 ozs/ton. to a .106 ozs./ton. During this period gold prices, expressed in current dollars, ranged from a low of $679 in December 1984 ($308 in 1984 dollars) to a high $1088 in January, 1983 ($476 in 1983 dollars). The historic gold prices referenced above were taken for www.goldprice.org and the conversion of the historic prices to current dollars was done using the inflation calculator available at www.bankofcanada.ca/rates/related/inflation-calculator.

HOZAMEEN ZONE

The Hozameen Zone is characterized by a northwest-plunging, antiformal contact between strongly altered andesite volcanic rocks and the mine sequence metasedimentary rocks. Elevated gold grades encountered in hole 18NC10 include 5.00 m of 3.23 g/t (89.00 - 94.00 m) and 9.00 m of 5.04 g/t (63.00 - 72.00 m) and occur within andesite characterized by strong albite-ankerite alteration and wallrock sulphidation proximal to quartz veins. Historical drilling encountered similar or better grades (Table 1).

  Table 1: Hozameen Zone recent and historical drill hole intercepts

  Hole      From (m)To (m)Interval (m)Au (g/t)
18NC10    63.0    72.0  9.0         5.04    
18NC10    89.0    94.0  5.0         3.23    
11050-60  276.8   314.7 37.9        2.50    
11000-71  154.9   265.6 110.7       2.13    
including 154.9   162.0 7.1         6.43    
including 178.3   182.3 4.0         3.40    
including 192.0   196.9 4.9         3.76    
including 226.5   229.5 3.0         3.84    
934-96-1  47.0    73.0  26.0        4.73    
including 47.0    50.0  3.0         5.90    
including 54.0    73.0  19.0        5.14    
966-8     8.1     15.3  7.2         2.88    
966-96-1  24.8    32.0  7.2         3.26    
11050-63  165.5   174.5 9.0         11.40   
11100-61  186.9   190.0 3.1         10.26   
11100-96-1225.6   230.3 4.7         5.47    

The conceptual size of the tabular-shaped Hozameen Zone has been defined by recent and historical drill hole data and is exclusive of the 2012 resource estimate. A wireframe solid representing Hozameen Zone mineralization was generated based on cross section and plan interpretation. Using an average specific gravity of 2.78, and volume defined by the mineralized solid, the conceptual tonnage of the Hozameen Zone ranges from approximately 356,00 to 600,000 tonnes with gold grades within the solid range from 2.30 g/t Au, represented by drill hole assay results from a total of 337 samples contained within the mineralised domain, to 3.27 g/t Au, represented by ten composite drill hole intervals within the domain. The Hozameen zone remains open down plunge to the northwest and is a priority for the next drilling campaign. The potential quantity and grade for the Hozameen zone is conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

AURUM & AURUM DEEP TARGETS

The Aurum Deep and Aurum targets are hosted by talc schist situated near a subvertical contact between mixed andesite and metasedimentary rocks and ultramafic rocks. The two targets are interpreted to occur within the same pseudo-stratigraphic position but 280 metres apart. The Aurum target was explored from 1920 to 1930 with minor underground development and gold production. The Aurum target was subsequently drilled in 1989. Drill hole intervals from the Aurum Deep and Aurum targets are summarized in tables 2 and 3 respectively.

  Table 2: Aurum Deep Target drill hole intercepts

  Hole     From (m)To (m)Interval (m)Au (g/t)
18NC10   145.0   149.0 4.0         3.02    
837-96-1 178.4   183.4 5.0         2.86    
895-96-3 175.0   182.0 7.0         3.94    
11000-71 247.3   251.3 4.0         4.17    
11050-60 276.8   310.4 33.6        2.66    
including276.8   296.8 20.1        3.49    
including305.6   310.4 4.8         2.76    


  Table 3: Aurum Target historical drill hole intercepts

  Hole From (m)To (m)Interval (m)Au (g/t)
C-1  92.2    94.4  5.2         2.19    
OG-5342.4    46.0  3.6         6.79    
ID-1238.4    41.2  3.1         4.05    
OG-5647.8    52.1  4.3         1.86    

The conceptual size of the cigar-shaped Aurum and Aurum Deep target has been defined by recent and historical drilling and is exclusive of the 2012 resource estimate. A wireframe solid representing the Aurum and Aurum deep target was generated based on cross section and plan interpretation using current and historical drill hole data. Using an average specific gravity of 2.78, the cumulative tonnage of the Aurum and Aurum Deep targets range from 412,830 to 1,078,000 tonnes with gold grades within the zone range from an average of 1.72 g/t Au, represented by 252 samples contained within the mineralised domain, to 3.10 g/t Au, represented by nine drill hole composite intervals. The potential quantity and grade for the Aurum and Aurum Deep exploration targets is conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

AURUM CONNECTOR ZONE

At present, a 280-metre gap exists between the Aurum Deep and Aurum targets where additional drilling is required to determine if continuity exists between the two zones. This gap, the Aurum Connector, represents a potential target ranging from 93,000 to 194,600 tonnes at 1.72 g/t Au to 3.10 g/t Au.

QUALIFICATION

The potential quantity and grade for the Hozameen zone, Aurum, Aurum Connector and Aurum Deep targets contained in this news release are conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

The potential quantity and grade for the Hozameen, Aurum and Aurum Deep targets are based on a 3Dwireframe solids generated from cross section and plan interpretation of mineralization from historic and current drill holes, and from the samples and drill hole intervals of which the 3D wireframes contain. The disclosed grade and tonnage of these targets are exclusive of known mined portions of the New Carolin Mine and of resource blocks that are contained in the 2012 Resource estimate.

The basis of the potential tonnage for the Aurum Connector is based on the conceptual target having similar dimensions as the Aurum and Aurum Deep targets based on an average thickness of 10 metres, vertical extent of 25 metres, potential strike length of 280 metres and SG of 2.78.

The historic gold prices referenced above were taken for www.goldprice.org and the conversion of the historic prices to current dollars was done using the inflation calculator available at www.bankofcanada.ca/rates/related/inflation-calculator.

All disclosure of scientific or technical information made herein is based upon information prepared by or under the supervision of Trevor Rabb, P.Geo. (BC), a qualified person as defined by National Instrument 43-101. Mr. Rabb has reviewed and approved the scientific or technical content of this news release as it relates to the Carolin Mine and Ladner Gold Project.

For more details regarding the Company's Ladner Gold Project and Mineral Resources, see the Company's National Instrument 43-101 Technical Report for the Ladner Gold Project dated May 29, 2015 (the "Company's Technical Report") and filed on SEDAR.

About New Carolin Gold Corp.

New Carolin Gold is a Canadian-based junior company focused on the exploration, evaluation and development of our 100% owned property consisting of 144 square kilometers of contiguous mineral claims and crown grants, collectively known as the "Ladner Gold Project" (Project). The Project is located near Hope, BC in the prospective and under-explored Coquihalla Gold Belt, which is host to several historic small gold producers including the Carolin Mine, Emancipation Mine and Pipestem Mine, and numerous gold prospects.

 

 

 

 

New Carolin Mines Vancouver, BC / TheNewswire / September 4, 2018 - New Carolin Gold Corp. (the "Company" or "New Carolin") (TSXV: LAD | OTCBB: LADFF): New Carolin is pleased to announce assay results from the latest phase of underground drilling at the Company's 100% owned Ladner Gold Project, which includes the Carolin Gold Mine, just 18 kms northeast of Hope, British Columbia.

Building upon historical data gathered from previous production, drilling and sampling, the recently completed phase of 13 diamond drill holes totalling 1,489 metres was designed to expand the known resource within the bulk tonnage sedimentary gold emplacement model, specifically to confirm select high grade historic drill intercepts cutting in-situ Main Zone mineralization directly in front and down plunge of existing Carolin Mine open stopes between the 800 meter and 875 meter levels; cut the northern extent of the East Zone mineralization; and provide confirmation and select step-out drilling below the Lower Zone mineralization (Figure 1).


Click Image To View Full Size

The drilling results appear to confirm the historical data and the continuation of the Company's exploration strategy (Table 1).

However, of particular note is drill hole 18NC10 which, in addition to confirming expected geology and mineralization in the Main Zone, pierced an additional lower zone offset 200 metres to the southwest, referred to as the Hozameen Zone. Drill hole 18NC10 intersected 93 meters averaging 1.39 grams-per-tonne gold (g/t Au); including 7 meters of 5.75 g/t Au (Table 1). This hole was drilled diagonally across two widely spaced historic holes, 11050-60 and 11000-71 that returned significant broad gold mineralized intercepts that until now had never been followed up (Table 2).

 

Table 1: 2018 Carolin Mine Phase 1 Significant Drill Intercepts

Drill Hole

Mine Level

From (m)

To (m)

Interval (m*)

Au (g/t)

18NC01

840

21.00

37.35

16.35

2.15

including

21.00

28.00

7.00

3.39

18NC02

840

15.00

22.00

7.00

0.21

and

29.90

37.00

7.10

0.98

18NC03

875

0.98

8.48

7.50

1.55

and

12.98

20.48

7.50

0.65

and

75.00

79.00

4.00

1.58

and

114.00

122.00

8.00

0.78

18NC04

875

6.10

14.00

7.90

1.16

18NC05

800

11.00

37.00

26.00

1.32

including

16.15

24.00

7.85

2.07

and

52.00

57.85

5.85

1.22

18NC06

800

36.00

47.20

11.20

2.91

18NC07

800

31.00

61.87

30.87

0.48

including

31.00

37.00

6.00

1.15

including

55.00

61.87

6.87

0.58

18NC08

800

22.35

39.00

16.65

0.22

18NC09

800

6.00

16.00

10.00

1.40

and

30.48

35.50

5.02

0.48

and

66.00

81.00

15.00

0.82

18NC10

800

11.00

18.00

7.00

1.89

and

58.00

151.00

93.00

1.39

including

61.00

99.00

38.00

2.36

including

63.00

80.00

17.00

3.43

including

65.00

72.00

7.00

5.75

including

106.00

119.00

13.00

1.23

including

144.00

150.00

6.00

2.21

18NC11

800

29.00

51.00

22.00

1.69

including

32.00

40.00

8.00

2.50

18NC12

800

27.00

42.00

15.00

0.81

including

35.00

42.00

7.00

1.24

18NC13

840

5.00

21.00

16.00

0.46

and

33.00

59.00

26.00

0.62

including

33.00

41.00

8.00

1.09

*True widths are estimated to be 70-90% of the drilled intercept. Due to the limited nature of previous drilling, the true width of drilled intercepts for drill holes 18NC09, 18NC10, and 18NC13 are not known

The current and historic drilling confirms the presence of a significant new zone of gold mineralization, offset to the southwest and distinct from Carolin Mine Main Zone. Within the context of the Company's Main Zone geological model, which interprets mineralization as hosted within a shallowly northwest plunging anticlinal hinge zone, the discovery of a broad zone of gold mineralization within drill hole 18NC10 is significant in that it may represent a parallel fold structure, or potential fault offset of the Carolin Mine Main Zone. The current Hozameen Zone gold intercept represents a near-mine "blind" discovery that warrants additional follow-up diamond drilling to establish its geometry, vertical, and lateral continuity.

Table 2: Hozameen Zone Historic Drill Intercepts

Hole

From (m)

To (m)

Interval (m)

Au (g/t)

11050-60

276.76

314.65

37.89

2.50

11000-71

154.89

265.55

110.66

2.13

including

154.89

163.00

8.11

5.94

including

191.00

198.00

7.00

3.34

including

247.32

262.50

15.18

4.00

Work on the Lander Gold Project is supervised by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a qualified person as defined by National Instrument 43-101. Mr. Raffle has reviewed and approved the scientific or technical content of this news release as it relates to the Carolin Mine and Ladner Gold Project. The 2018 core holes were drilled using NQ tooling to produce 4.76 cm diameter dill core. Core samples were half sawn and submitted to ALS Minerals (North Vancouver) or Activation Laboratories Ltd (Kamloops); both ISO 17025 and 9001:2015/2008 (ALS/Actlabs) accredited geo-analytical laboratories that are independent of the Company. Drill core samples were subject to crushing at a minimum of 70% passing 2 mm, followed by pulverizing of a 250 gram split to 85% passing 75 microns (ALS) or 95% passing 105 microns (Actlabs). Gold determination was via standard 30 gram fire-assay (FA) analysis. A quality assurance/quality control (QA/QC) program is in place, with the insertion of standard, blank and duplicate samples into the sample stream to confirm the accuracy of the reported results.

For more details regarding the Company's Ladner Gold Project and Mineral Resources, see the Company's National Instrument 43-101 Technical Report for the Ladner Gold Project dated May 29, 2015 (the "Company's Technical Report") and filed on SEDAR.

About New Carolin Gold Corp.

New Carolin Gold is a Canadian-based junior company focused on the exploration, evaluation and development of our 100% owned property consisting of 144 square kilometers of contiguous mineral claims and crown grants, collectively known as the "Ladner Gold Project" (Project). The Project is located near Hope, BC in the prospective and under-explored Coquihalla Gold Belt, which is host to several historic small gold producers including the Carolin Mine, Emancipation Mine and Pipestem Mine, and numerous gold prospects.

For additional information, please visit the Company's website at www.newcarolingold.com.

ON BEHALF OF THE BOARD OF DIRECTORS