Kingfisher Reports Final Diamond and RAB Drill Results from Cloud Drifter Trend

VANCOUVER, BC / ACCESSWIRE / February 22, 2023 / Kingfisher Metals Corp. (TSXV:KFR)(FSE:970)(OTCQB:KGFMF) ("Kingfisher" or the "Company") announces drill results from the 100% owned 511 km² Goldrange Project. Goldrange is located approximately 25 km south of the town of Tatla Lake in the Chilcotin region of Southwest British Columbia.

Highlights

• Diamond drilling at eastern Cloud Drifter Zone intercepted anomalous near surface gold mineralization over 400 m of strike including 1.93 g/t over 25 m from 32 m.
• The Cloud Drifter Zone's Pad 400 Area continues to return high grade intercepts that infill previous gaps between diamond drill holes such as 15.17 g/t Au over 1 m and 10.49 g/t Au over 1 m.
• Several mineralized shear zones were identified at Langara Zone through diamond drilling including 9.45 g/t Au over 1 m and 7.26 g/t Au over 1 m.
• A new style of polymetallic sulfide breccia was intercepted at Langara returning 7.41 g/t Au, 81.90 g/t Ag, 0.23 % Cu, 2.22 % Pb, and 7.63 % Zn over 0.5 m.
• The RAB drill at Langara Zone located the historical Langara adit in hole GRR22-033 where the hole graded 1.3 g/t Au over 7.6 m and bottomed in a void.
• Deep penetrating IP survey in Cloud Drifter Zone identified two large intense chargeability anomalies at depth.

Dustin Perry, CEO of Kingfisher, states "Drilling in 2022 at the Cloud Drifter Trend identified a large hydrothermal gold system stretching close to 3 km in length. Drilling identified corridors where gold grades are markedly increased and likely represent the tops of feeder zones to the hydrothermal system. The IP survey in the eastern Cloud Drifter Zone shows two large intense chargeability anomalies at depth - one below the area of drilling and another below the historical Standard adit. These anomalies represent high priority drill targets."

The Goldrange Project covers a significant deformation zone with numerous precious metal veins across the project. Mineralization at Goldrange occurs within the orogenic Yalakom Gold Belt, which is host to the Bridge River District that includes the past-producing Bralorne Mine. Several areas of historical hand mining are located within the project that date back to the 1930s.

The 2022 drill program (Figure 1) at the Goldrange Project was designed to follow up on the initial 2021 program as well as test a much broader area across the Cloud Drifter Trend. The 23 diamond drill holes (Tables 1-4) and six RAB drill holes (Tables 5 and 6) of the 2022 program included within this release are located at the Langara Zone of the Cloud Drifter Trend soil anomaly.

Cloud Drifter Zone Drill Results

Pad 400 Target

Ten drill holes (Figure 2) were completed at the Pad 400 target, with the results from six of those drill holes previously released , and with four included in this release. The four holes included in this release (Table 1 and 2) were completed from a single drill pad and included highlight intercepts from of 15.17 g/t Au over 1 m (Figure 4) and 10.49 g/t Au over 1 m.

Eastern Target

Ten drill holes (Figure 3) were completed at the Eastern Target totalling 1986 m. Drilling was completed from four drill pads covering 400 m in strike length. Drilling consistently intercepted shallow broad zones of low-grade gold mineralization with a highlight intercept returning 1.9 g/t Au over 25 m (Figure 5) from 32 m depth. Drill collar information and intercepts are found within Table 1 and 2.

Table 1: Diamond Drill Collars (NAD 83 - Zone 10), Cloud Drifter Zone

Table 2: Diamond Drill Highlights, Cloud Drifter Zone

­*True widths are not known at this time. All widths reported are drilled widths. Values <10 g/t Ag, <0.1% Cu, Pb and Zn not displayed

Langara Zone Diamond Drill Results

Diamond drilling at the Langara Zone was completed from one pad location near the top of the ridgeline. Four holes were completed over 1594 m. Drill hole GR22-030 was aimed towards the location of the historical adit and failed to hit similar mineralization with a highlight of 3.96 g/t Au, 60.22 g/t Ag and 0.63% Cu over 1 m.

GR22-033, -035, and -037 were completed to test for down dip extensions of a vein outcrop at surface on the eastern slopes of the Langara Zone. Sulfide breccia (Figure 8), narrow veins, as well as a 12 m wide deformation zone (Figure 9) were intersected. Collar information and highlight intercepts are found within Table 3 and 4 below. Highlight intercepts are displayed on Figure 6 and 7.

­­ Table 3: Diamond Drill Collars (NAD 83 - Zone 10), Langara Zone

Table 4: Diamond Drill Highlights, Langara Zone