Rackla Metals Receives Land Use Permit for Maiden Drill Program at the Grad Property, NWT

13:00 Uhr  |  The Newswire

Vancouver, April 30, 2025 - Rackla Metals Inc. (TSX-V: RAK) ("Rackla" or the "Company") is pleased to announce that it has obtained a Type A Land Use Permit from the Sahtu Land and Water Board, supporting the maiden drill program at its Grad Project located within the Tombstone Gold Belt in the Northwest Territories. The Grad Project is now fully permitted and fully funded for the upcoming 2025 exploration season. The five-year permit, with a potential for a two-year extension, allows Rackla to significantly advance exploration efforts, beginning with drilling at the BiTe Zone-a high priority target showing early promise.

Simon Ridgway, Rackla CEO, commented: "We are grateful for the support and feedback we received throughout the permitting process with the various entities within the Sahtu Land and Water Board. Since staking Grad late in the 2024 exploration season, and after only having spent 10 days on the property to date, we've seen extremely compelling results. This speaks strongly to the potential of the extension of the Tombstone Gold Belt within the Northwest Territories and we are eager to drill test this project."

Among the early findings on the Grad property is a 550-metre talus-fine sample line that returned an average of 1.06 g/t Au. The core zone of this talus sample was a 180-metre interval averaging 3.68 g/t Au. The outcropping intrusive above this interval exhibits strong sericite alteration and a continual channel sample taken in the cliff face returned 38m averaging 1.8 g/t Au with associated high bismuth and tellurium, typical for Reduced Intrusion-Related Gold System (RIRGS).

The Company is proud to work in partnership with the Sahtu communities and remains committed to strengthening the respectful, collaborative relationships we've built in the area. As we advance exploration at the Grad Project, we will continue working closely with local partners and regulatory agencies to ensure our activities create long-term value and reflect community priorities.

Phase 1 Drilling at the BiTe Zone

Rackla will commence Phase 1 of the drill program at the BiTe Zone at base of the cliff (see Figure 1). Phase 2 will include step-out drilling and drilling from the ridgetop, if mapping and sampling results confirm the gold-bearing zone occurs continuously up the cliff face.

Figure 1. North Nahanni Pluton with BiTe Zone discovery.

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Project Description

The Grad Property is located in the eastern portion of the Tombstone Gold Belt. The mineral claims defining the property were staked in July of 2024 when the land came open following more than a decade of land use planning. Prior to Rackla staking the claims there was no history of exploration on the outcropping intrusion at the core of the Property. The 2024 program was limited to 10 days on the property and consisted of prospecting, rock, stream sediment and talus-fine sampling, an airborne geophysical survey and a photogrammetry survey. Rackla is exceedingly pleased with the results from the 2024 program.

The Grad Property is centered on the North Nahanni Pluton, a Cretaceous-age, Mayo Suite felsic intrusion. The pluton measures 1.9 by 2.2 km popping up through the sediments, creating a sizable, intensely altered contact aureole expressed as hornfelsed and iron-stained gossanous sedimentary rocks surrounding the felsic intrusive body.

While conducting talus-fine sampling at the southern margin of the Pluton, a broad alteration zone was identified with intense quartz-tourmaline and quartz-sulfide veining in the intrusive. The intense veining has shattered the intrusive body to almost a schistose appearance. Results of the rock sampling returned significant gold grades, up to 92 g/t Au, with many rock samples returning multi-gram gold. The gold mineralization is associated with bismuth, tellurium +/- tungsten confirming that this is certainly a RIRGS. Because of the anomalously high bismuth and tellurium associated with the gold, the discovery was named the BiTe Zone.

Figure 2. Photo of chip sample that averaged 6.78 g/t Au, 3,520 ppm Bi, 218 ppm As, 94.7 ppm Te across 2m (note dark quartz-tourmaline veins).

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Figure 3. Intense fracturing and quartz-tourmaline veining at the BiTe Zone.

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Qualified Person

Scott Casselman, B.Sc., P.Geo., Vice-President Exploration of the Company, is a member of the Association of Professional Engineers and Geoscientists of British Columbia and is the Company's Qualified Person as defined by National Instrument 43-101. Mr. Casselman has reviewed and approved the technical information contained in this news release.

About Rackla

Rackla Metals Inc. (TSX-V: RAK) is a Vancouver, Canada based junior gold exploration company. The Company is targeting Reduced Intrusion-Related Gold Systems (RIRGS) mineralization on the southeastern part of the Tombstone Gold Belt in eastern Yukon and western Northwest Territories. Management believes that this area, which is underexplored for RIRGS deposit types, has the potential to be the next frontier for the discovery of these large gold systems.

ON BEHALF OF THE BOARD

Simon Ridgway,
CEO and Director

Tel: (604) 801-5432; Fax: (604) 662-8829
Email: info@goldgroup.com
Website: www.racklametals.com

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

Forward-Looking Information

Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward- looking statements and include, without limitation, the Company's future exploration activities; and general business and economic conditions. Often, but not always, these forward looking statements can be identified by the use of words such as "estimate", "estimates", "estimated", "potential", "open", "future", "assumed", "projected", "used", "detailed", "has been", "gain", "upgraded", "offset", "limited", "contained", "reflecting", "containing", "remaining", "to be", "periodically", or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative variations.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, whether the Company's planned exploration work will proceed as planned; changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in the Company's quarterly and annual filings with securities regulators and available under the Company's profile on SEDAR+ at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that the Company's stated goals and planned exploration activities at its properties will be achieved; that there will be no material adverse change affecting the Company, its properties or its securities; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.

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