Leach Testing Underway with GlyCat™ Process

USA - English

• USA - English

VANCOUVER, B.C, Oct. 23, 2023 /PRNewswire/ -- Gold Port Corporation (CSE: GPO) (OTCQB: GPOTF) (the "Company") is pleased to announce that leach test work is underway using a new and innovative leaching process. Draslovka's Mining Innovation Centre in Perth, Australia has been retained to test their patented "GlyCat™" glycine leaching technology for the recovery of gold using a dual lixiviant system of glycine and sodium cyanide. 'Samples from the Groete Gold Project have been received in Australia and are currently under evaluation. Test work is being conducted under the supervision of Mr. William Feyerabend, CPG, a Qualified Person under National Instrument 43-101, and a director of the Company.

Glycine is a non-toxic biodegradable and recyclable amino acid commonly used as a food additive. Industry test work by Draslovka's Mining Innovation Centre in Perth, has demonstrated that GlyCat™ enables significant operation cost savings from the reduction in the use of cyanide, detoxification and other leaching reagents, potential improvements in gold recovery as well as reduction of waste and wastewater treatment costs.

Company President and CEO, Adrian F. C. Hobkirk is quoted, "We are excited to be testing state of the art chemical solutions for the extraction of gold from the Groete Gold Deposit. The Company is committed to identifying the most cost effective, environmentally friendly and sustainable recovery process for this significant gold deposit."

About Draslovka

Draslovka Holding a.s. (Draslovka) is a global leader in cyanide-based chemical specialties and agricultural chemicals including next generation fumigants and biocides. Utilizing the company's significant expertise, Draslovka develops and scales solutions which are vital for delivering sustainable growth at pace. A private holding company based in the Czech Republic, it is owned by four Czech families and has more than 100 years of experience in hydrogen cyanide (HCN) production and HCN chemistry. The company specializes in the production of fully synthetic and highly purified liquid HCN, which undergoes further processing for application in a variety of downstream products ranging from mining through to agriculture sectors. Through its scalable chemistry-based solutions, Draslovka aims to unlock transformation and be the leading global player in the production of cyanides for use in synthesis, mining, and industrial and agricultural applications, with safety and environmental sustainability at the heart of all its operations.

About Gold Port Corporation

Gold Port Corporation (GPO) is focused on the further exploration and development of the 100% owned Groete Gold Project, located in Guyana, South America. The current focus of the Company is to enhance the NI 43-101 gold deposit defined at the Groete Project to a higher-grade lower tonnage resource. The Project was last explored in 2012, which included a drill program that allowed the calculation of an Inferred Mineral Resource of 1.57 million gold equivalent ounces (gold plus copper) within 74 million tonnes, at a grade of 0.66 grams per tonne gold equivalent. A cut-off grade of 0.25 gold equivalent grams per tonne, a gold price of US$1,275 per ounce and copper price of US$3.00 per pound was used in the calculation of the Inferred Mineral Resource.  Details of the Mineral Resource are contained in a National Instrument 43-101 report titled, Technical Report and Updated Mineral Resource Estimate on the Groete Gold Copper Deposit, Groete Property, Guyana, South America by P&E Mining Consultants Inc., dated April 16, 2019, available on SEDAR and the Company website at www.goldportcorporation.com.

The Company owns a new MP Power track mounted drill rig located in Guyana and is siting a road access to the project to initiate a drill program. The new program is anticipated to include a 35-hole, 8,100-meter program which will seek to delineate a higher grade and higher quality gold resource contained within the current geological model.

On behalf of the Board of Directors

Adrian F. C. Hobkirk
President, CEO and Director
T: 954-684-8040
E: [email protected]
W: www.goldportcorporation.com

Mr. William Feyerabend, CPG, a Consulting Geologist and Qualified Person under National Instrument 43-101, participated in the writing of this press release and approves the scientific and technical content.

No stock exchange or securities regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of this release.

This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward-looking statements. The reader is cautioned not to place undue reliance on forward- looking statements. We seek safe harbor.

SOURCE Gold Port Corporation