Hot hole reported from Damoti Lake play

Drilling on the Damoti Lake project north of Yellowknife, N.W.T., has returned the highest-grade hole to date.

Hole D-43 intersected 6.7 ft. (from 271.0-277.7 ft.) grading 0.26 oz. gold per ton plus a further 21.6 ft. (from 298.6-320.2 ft.) grading 0.90 oz. gold, including 3.3 ft. (from 307.4-310.7 ft.) grading 3.45 oz. gold. Athabaska Gold (TSE), with a 75% interest, is operator, while Consolidated Ramrod Gold can earn a 51% interest from Athabaska. Gitennes Explorations (ASE) holds the remaining 25% working interest.

Hole D-43 was drilled at BIF Island on the same section as Hole D-42, which intersected a wide zone of iron formation but did not return high-grade gold values.

The D-42 intersection is about 200 ft. above the best intersection in Hole D-43. Additional holes are planned to test the extent of the high-grade mineralization both above and below Hole D-43.

Athabaska is moving a second drill onto the property and expects to continue drilling from the lake ice until at least May 15, with 10,000 ft. planned. Most of the drilling will concentrate on the northerly down-plunge extension of the BIF Island mineralization encountered in Hole D-31 (25.6 ft. grading 0.78 oz. gold).

Several scout holes will also be drilled to test the remaining geophysical targets identified beneath Damoti Lake.