Meryllion Resources Corp. Announces Site Visit of Oldham Range, Western Australia, August 2021

24.08.2021  |  Newsfile

Toronto, August 24, 2021 - Meryllion Resources Corp. (CSE: MYR.X), ("MYR" or the "Corporation") wishes to announce that a site visit to its Oldham Range project was undertaken by independent geologist, RockDomain Consulting.

Highlights

• Site visit confirmed the location of surface gossan outcrop within the property area

• Several rock chip samples collected and submitted to laboratory

• Drill rig access established to the main target areas

• Several geological traverses undertaken to verify geological setting

• Evaluated sightings for proposed initial drill program, subject to all relevant Authorities and Stakeholder approval

Oldham Range Property

The Oldham Inlier forms part of a basement high in the north-western part of the Officer Basin. Initial exploration work was completed by the Geological Survey of Western Australia followed by initial soil and geophysical surveys by several operators between 2001 and 2014. The MYR drill program will be the first drilling ever undertaken on the Property.

FIGURE 1: LOCATION PLAN OF OLDHAM RANGE LICENCE IN WESTERN AUSTRALIA

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The geological consultants conducted a three-day geological reconnaissance site visit with the objectives of:

• Assessing the regional geological setting;

• Assessing and evaluating the surface expression over geophysical targets;

• Confirming and re-sampling the reported ex-sulphide gossan and source of anomalous zinc-lead-copper anomaly; and

• Re-assessing the accessibility and logistics of the planned drilling program.

It was confirmed that the Oldham Range project licence E69/3461 covers part of a basement rock inlier located in the north-western part of the Officer Basin consisting of a moderately south-southwest dipping succession of clastic sedimentary rocks (sandstones, siltstones and shales). The rock succession consists of alternating intervals of fluvial to shallow-marine sandstones several tens of meters think interbedded with shale beds and thin, several meters thick beds of wackes (feldspar-dominated sandstones).

There was no major stratigraphic change recognised that would suggest a major change in the depositional environment. The geological work also suggested that the geophysical anomalies are related to magmatic bodies that have not penetrated to the surface.

A large gossanous outcrop located in the central northern area of the permit was investigated (Figure 2). The gossan outcrop area measures about 120 m by 30 m and show a network of sub-vertical cross cutting veins of highly ferruginous rock after sulphides. About 20m-spaced rock chip samples were collected across the area. Field testing of the gossanous material with the handheld XRF indicated anomalous concentrations of zinc, lead and copper. Samples have been submitted to Intertek Laboratory in Kalgoorlie for analysis.

All areas considered to drill testing will be accessible for drilling after minor earthworks.

FIGURE 2: Field photograph of highly ferruginous boxwork - textured surface breccia remnant of former sulphide mineralisation

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About Meryllion Resources Corp.

Meryllion Resources Corp. is a junior exploration company listed on the Canadian Securities Exchange. The Corporation undertook a re-structuring and financing in early 2021 and is now investigating a number of exploration opportunities with drill-ready targets.

For further information please contact:

Mr. Jeremy Edelman
Director and Chief Executive Officer
Meryllion Resources Corp.
E: meryllion@outlook.com

Qualified Person

The technical disclosure in this release is based on information prepared by Dr. Simon Dorling who is employed by RockDomain Consulting. Dr. Dorling is a member of the Australasian Institute of Geoscientists (Member Number: 31021). Dr. Dorling has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2012 Edition of the JORC Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr. Dorling consents to the inclusion in the release of the matters based on their information in the form and context in which it appears.

Forward-Looking Statements

Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such.

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

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