Western Atlas Resources announces additional positive exploration results at its Meadowbank Project

1 November 2018

Western Atlas Resources Inc., is pleased to announce additional positive results from its 2018 field and interpretive work on its Meadowbank Project in Nunavut. The results pertain to the:
• Completion of the 3rd grid of induced polarization survey (“IP”) carried out on the Company’s Block B by Peter E. Walcott & Associates Ltd. (Walcott)
• Completion of the electromagnetic anomaly picking report (“EM”) by Geotech Ltd. (Geotech), and
• Receipt of the final set of results from the geological sampling.
Highlights from the 3rd grid IP survey, EM report and geological results:
• The results of the induced polarization survey carried out on Grid 3 (figures 1 and 2), highlights two crosscutting chargeability trends within an intense magnetic corridor. These chargeability trends are formed by a dominant northeastern trend tracking the regional geological trend, and a second east-westerly trend crossing the dominant trend in the southwest portion of the survey area.
• Numerous strong electromagnetic (EM) anomalies were located in Blocks B and C. In Block B, area B1, most of the EM anomalies are located in two parallel conductive trends, trending approximately N 75° E. and corresponding with a stacked series of sub-vertical conductors. According to Geotech, the strong EM double-peak anomalies are related to bedrock conductors, i.e., BIF-related sulphides (including pyrrhotite possibly) – (Geotech EM Anomaly picking and AIIP processing report and Walcott IP survey and interpretation on the Western Atlas Resources’s Meadowbank project).
• To date Western Atlas has received the results from all of the 705 grab samples taken this summer. Anomalous gold values and new showings in geologically prospective areas were identified. The latest 92 samples results ranges from nil to up to 4.01 g/t Au (in addition to the results ranging from nil to up to 6.6 g/t Au and 44.7 g/t Ag  announced on September 28, 2018 and from nil up to 13.3  g/t Au with the 2017 sampling program).