Pegasus Resources Inc. announced results of the fall 2020 prospecting program carried out on its Gold Mountain and Punch Bowl properties located north of Golden, British Columbia. The Company may earn a 100% interest in the Gold Mountain Property subject to the terms of an option agreement dated September 9, 2020. The Ag-Au-Pb-Zn-Cu-Sb mineralized system described in a prior news release (January 6th, 2021) was confirmed over approximately 600 to 700 meters length on surface with individual mineralized veins ranging from 0.5 to 2 meters width. The mineralization is oriented southeast-northwest and is open in all directions. The limestone hosted polymetallic veins are postulated to originate from a magmatic intrusion that exsolved highly evolved, hydrothermal fluids that appear similar to intrusion related polymetallic veins of other well know mining districts such as the Black Forest, Germany. A total of twenty-eight (28) samples were collected from outcrop, boulders and float; eleven (11) returned assays that show the system is strongly mineralized. The full dimensions, extent and number of mineralized vein systems are currently not well constrained or are unknown.