Cirrus Gold Corp. provided an update on the recent Cu-Au exploration work carried out on the Chuchi South Property. In September 2021, two geologists and a prospector spent nine days on the Chuchi South Property.

The team was able to assess the geology in additional areas and collect approximately 160 grab samples. The September field programme resulted in: The expanded understanding of a subparallel copper zone 50 m north of the COHO Zone. This zone is related to irregular monzonite to syenite dikes and strong K-feldspar and epidote alteration in the diorite.

The expanded understanding of a copper exploration zone 300 m north of COHO. This zone is in a very strongly magnetic gabbro and pyroxenite host which is lithologically distinct and easily traced as a magnetic high. Some veins had been previously sampled by the vendor, but additional veins and disseminated copper sulphides were noted, as well as one shear with a solid 3 cm chalcopyrite vein.

Many of the veins are irregular quartz breccia veins with chalcopyrite and local sphalerite concentrated in the centre and epidote margins. Finally, the field team also unearthed a new exploration area of interest. It occurs in the west part of the property, close to monzonite where veinlets and fractures of chalcopyrite mineralization extends for 350 m. This mineralization is very similar to the zone 300 m north of COHO with quartz-epidote-chalcopyrite veins being very common, some of which are quite rich (determined by visual review).

The Chuchi South Property consists of 13 mineral tenures covering approximately 31.2 km2. The Mt. Milligan copper gold Mine is 32 km to the southeast and is in analogous geology, as is the Chuchi Lake deposit located 3 km north of the Property.

The Mt. Milligan Mine has Proven and Probable Reserves of 170,576 Mt containing 2.148 Moz Gold and 837 Mlbs Copper as well as Measured and Indicated Resources of 125,103 Mt containing 1.396 Moz Gold and 521 Mlbs Copper (Centerra Gold Inc. 2020 Year-End Mineral Reserve and Resources Summary). In a non-43-101 compliant report from the BC Gov.

Minfile Geologic Database (Minfile) it is reported that the Chuchi Lake Deposit contains a "geologic resource estimate" of 50 Mt of at least 0.21 g/t gold and 0.21% copper. The reader is cautioned that the presence of Cu-Au deposits proximal to the Property does not indicate that similar deposits occur on the Property. The Chuchi South Property overlies the southeastern exposed portion of the Early Jurassic Hogem Batholith.

There are five BC Minfile occurrences within the Property. The Creek Occurrence is within the Hogem Batholith and consists of chalcopyrite and pyrite veinlets with associated potassium feldspar and epidote alteration. A drill hole is reported to have returned 8 m @ 0.71 g/t Au and 1.27% Cu.

The Skook Occurrence is an alteration system with several small showings proximal to a crowded porphyry phase of the Hogem Batholith. A 1 m chip sample ran 13.4 g/t Au, 16.6 g/t Ag and 2.3% Zn; other samples have anomalous Cu as well. The GG Occurrence is a small zone of quartz vein float containing sphalerite, galena, chalcopyrite and pyrite.

It is hosted by volcanics adjacent to the Hogem Batholith. The Rig Breccia occurs at the approximate contact between the Hogem Batholith and the surrounding volcanics. It is described as a gouge zone with sulphides; a 3 m chip sample returned 0.11 g/t Au, 2.5 g/t Ag, 0.12% Cu, 0.61% Zn and 0.03% Pb.

The SRM Occurrence consists of chalcopyrite, pyrite and pyrrhotite in veins and quartz breccia near the contact between volcanics of the Chuchi Lake Succession and the Hogem Batholith. A 5 m drill intercept ran 0.97 g/t Au and 0.70% Cu. Two geologists and a prospector spent six days on the Property for Cirrus in September 2020, conducting geological reconnaissance/sampling and local detailed mapping.

47 grab samples were collected. While samples were taken from the historical mineral occurrences (Minfiles), attention focussed on the COHO Zone, midway between the GG and SRM occurrences, where the property vendor had previously obtained good mineralization. An airborne magnetic survey was flown over the Property in October, 2020.

With the new geologic information and airborne magnetic survey, an altered and mineralized diorite zone, approx.30 m in width and 350 m in strike was outlined. This zone remains open to the east and west. The COHO Zone contains Cu-Au ± Pb ± Zn mineralization in quartz-carbonate-sulphide veins associated with an east-west fault zone.

The fault is marked by a steep prominent valley and a magnetic low. There are fine quartz-chalcopyrite-pyrite-malachite veinlets and fracture coatings that extend south from the main east-west fault. The host rock is diorite of the Hogem Batholith.

Fresh diorite north and south of the mineralized zone is moderately to strongly magnetic. In the mineralized/altered diorite, magnetite has been altered and the rock has a low magnetic susceptibility. The altered and mineralized diorite has a width of approximately 30 m and strike length of at least 350 m, but is open to the east and west, where swamp and overburden prevent further delineation.

Seventeen grab samples were collected in this area in 2020. Gold ranged from 0.019 to 16.15 g/t, with eight samples having in excess of 1 g/t. Copper assayed from 1,350 ppm to 46,100 ppm (0.14 to 4.61%), with sixteen samples containing more than 0.5% Cu. Anomalous lead and zinc is also present.