Barsele Regional Exploration Outlines Several New Prospective Target Areas

• At Bastuträsk, Regional hole BAS21005 cut 0.60 metres core length of sphalerite-bearing carbonate breccia, grading 2.93% zinc.
• Regional hole BAS21001 intersected a zone of hyaloclastic basalt with a 0.9 metre interval grading 1.66% zinc, 0.12% lead.
• Regional hole BAS21006 yielded arsenopyrite rich vein material with visible gold including a 0.45 metre core length grading 8.20 g/t gold.
• Regional hole BAS21007 cut a zone logged as a mafic dyke, that yielded a 0.80 metre core length grading 6.20 g/t gold.
• At Norra, Regional hole NOR21003, intersected arsenopyrite bearing mineralization that yielded a 0.90 metre core length grading 6.10 g/t gold. 
• Regional hole NOR21005 tested an electromagnetic conductor that yielded 1.00 metre core length grading 0.75 g/t gold, 22.3 g/t silver, and 0.18% copper, plus anomalous zinc.
• At Sjöliden, Regional hole SJO21001, tested a possible late east-west trending structure and cut 1.00 metre core length within an andesitic dyke, grading 1.64 g/t gold.
• At Risberget, Regional hole RIS21001 tested a magnetic low anomaly in metagreywacke. The drill hole yielded 2.0 metres of graphite breccia grading 0.93 g/t gold.
• Stringent COVID-19 protocols continue to be enforced, in order to keep the workers and the people living in the surrounding community safe.

VANCOUVER, BC, Dec. 21, 2021 /PRNewswire/ - Barsele Minerals Corp. (TSXV: BME) (the "Company" or "Barsele") is pleased to provide an operational update regarding 2021 exploration activities within the Barsele Gold-VMS Project area in Västerbottens Län, Northern Sweden (the "Barsele Project"). The exploration program is being operated by joint venture partner Agnico Eagle Mines Limited – (TSX, NYSE: AEM) ("Agnico Eagle"). Ownership in the Barsele Project is 55% Agnico Eagle and 45% Barsele. Agnico Eagle can earn an additional 15% in the Barsele Project through the completion of a pre-feasibility study. There is no cash outlay requirement by Barsele until a pre-feasibility study is completed.

Between January 1^st and December 1^st, 2021, Agnico Eagle personnel and contractors have carried out office-related and field-specific exploration activities at a number of exploration sites throughout the property. Work included prospecting and mapping, diamond drilling, geophysical surveys, base of till drilling and water sampling, along with an extensive surface till sampling campaign (MEFFA), utilizing multi-element fine fraction analysis.

Diamond drilling from June 2^nd, through July 29th, within the 34,533-hectare property totaled 3,094 metres in 18 completed/extended core holes. Since late 2015, a total of 158,439 metres of overburden penetration and core collection has been tabulated from a total of 422 drill holes. Analytical results for all 18 drill holes from the 2021 drilling program are presented in this news release. Drilling took place in a variety of target areas including: Bastuträsk (BAS), Norra (NOR), Orrträsket (ORR), Sjöliden (SJO) and Risberget (RIS).

At Bastuträsk, Regional hole BAS21001 intersected a zone of hyaloclastic basalt with a 0.9 metre interval grading 1.66% zinc, 0.12% lead at a midpoint depth of 115 metres below surface.

Regional hole BAS21002 intersected sheared gabbro, with variable presence of sulphide mineralization, that yielded 5.80 metres core length (estimated 3.0 metres true thickness) grading 0.61 g/t gold at a midpoint depth of 20.0 metres below surface.

Regional hole BAS21003, tested a larger ground electromagnetic anomaly, coincident with cross-cutting structures. There were no anomalous precious or base metal results.

Regional hole BAS21004 intersected mainly brecciated basalt and yielded 0.45 metres core length grading 1.60 g/t gold at a midpoint depth of 60.0 metres below surface.

At Bastuträsk, Regional hole BAS21005 cut 0.60 metres core length of sphalerite-bearing carbonate breccia, grading 2.93% zinc, at a midpoint depth of 60 metres below surface.

Regional hole BAS21006 yielded arsenopyrite rich vein material with visible gold and contained 0.45 metre core length grading 8.20 g/t gold at a midpoint depth of 105 metres below surface.

Regional hole BAS21007 cut a zone logged as a mafic dyke, that yielded 0.80 metre core length grading 6.20 g/t gold at a midpoint depth of 100 metres below surface.

Regional Expansion hole BAS20007B cut massive sulphide/meta gabbro, that yielded 4.00 metres core length grading 0.29 g/t gold, 0.07% nickel, 0.12% copper at a midpoint depth of 100 metres below surface, plus an andesitic dyke that assayed 1.0 metre core length grading 1.61 g/t gold at a midpoint depth of 125 metres below surface.

At Norra, Regional hole NOR21001, was designed to test a downhole electromagnetic anomaly. Semi-massive pyrite was encountered between 48.0 and 58.0 metres. There were no anomalous precious or base metal results.

Regional hole NOR21002, tested a gravity anomaly. No significant mineralization or alteration was encountered.

Regional hole NOR21003, intersected intermediate volcanic rocks with banded iron formation at the beginning of the hole, followed by mafic intrusive. Narrow arsenopyrite-bearing mineralization yielded 1.00 metre core length grading 1.03 g/t gold at a midpoint depth of 30 metres below surface, plus 0.90 metre core length grading 6.10 g/t gold at a midpoint depth of 40 metres below surface. 

Regional hole NOR21004 was drilled to test an isolated airborne anomaly under the powerline that crossed the exposed Norra VMS discovery zone. No significant mineralization or alteration was encountered.

Regional hole NOR21005 was drilled to test a strong borehole electromagnetic plate identified at a depth of 50 metres and interpreted as possible continuity of the VMS horizon on the northern limb of a folded sediment/volcanic sequence hosting the Norra VMS deposit. The drill hole encountered sphalerite clasts that could represent the distal portion of the VMS horizon, that has been truncated by post mineral dykes. A 1.00 metre core length graded 0.75 g/t gold, 22.3 g/t silver, and 0.18% copper, plus anomalous zinc at a midpoint depth of 60 metres below surface. 

At Orrträsket, Regional hole ORR21001 targeted a soil anomaly and interpreted structures near Orrträsket Lake. The hole cored an unaltered granodiorite intrusion with a small quartz vein and arsenopyrite disseminations at 21 meters depth. There were no anomalous precious or base metal results.

At Sjöliden, Regional hole SJO21001, tested a possible late east-west trending structure cut a 1.00 metre core length within an andesitic dyke, grading 1.64 g/t gold at a midpoint depth of 40 metres below surface.

Regional hole SJO21002, tested a magnetic crossover along a NE-SW trending structure but did not yield anomalous precious or base metal results.

At Risberget, Regional hole RIS21001 tested a magnetic low anomaly in metagreywacke. The drill hole yielded 2.0 metres of graphite breccia grading 0.93 g/t gold at a midpoint depth of 55 metres below surface.

Regional hole RIS21002 did not yield anomalous precious or base metal results.

Barsele's President, Gary Cope states; "This year's diamond drilling has outlined a number of precious and base metal occurrences that require follow-up drill testing."

  To view the drill holes within the project, please refer to our map at: https://barseleminerals.com/project/photos/

The technical information in this news release has been verified by way of updates from detailed monthly reports, telephone calls and video conferencing amongst Barsele management and Agnico Eagle management. During the meetings, data and protocols are discussed with the site management and the technical staff and the database is reviewed and updated and drill core and till sampling material and handling procedures are documented. Agnico Eagle maintains comprehensive quality control/quality assurance protocols.

All samples referred to in this news release were tested at independent MS Analytical Service, wherein core sawing and sample preparation is carried out in Storuman, Sweden and the analyses of both Au and multi-element analysis is completed in Canada. The assay method is SWED-Edh-6, which comprises:-FAS-121, Au fire assay-AA on 50 gram-above 3 ppm Au fire assay-gravimetric; FAS-425, Au by fire assay and gravimetric finish 50-gram nominal sample weight; IMS-230, 48 element four-acid digestion ICP-MS; ICF-6Xx, default over limit methods for ICF-6Ag, ICF-6As, ICF-6Cu, ICF-6Pb, ICF-6Zn, SPM-210 (S); FAS-418, Ag by fire assay and gravimetric finish for Ag above 1,000 ppm. For semi-massive to massive sulphide rock, ICP-130 aqua regia is used for multi element analysis, instead of the four-acid digestion.

As project operator, Agnico Eagle has developed a community relations program to engage the various stakeholders in the Barsele Project area. Basic environmental assessment and surface water characterization, species studies and hydrogeology studies are ongoing.

About the Barsele Gold Project

The Barsele Project is located on the western end of the Proterozoic "Skellefte Trend", a prolific volcanogenic massive sulphide deposits belt, that intersects with the "Gold Line" in Northern Sweden. Both polymetallic "VMS" deposits and intrusive hosted "Orogenic Gold" deposits are present in this region and on this property. Current and past producers in the region include Boliden, Kristineberg, Bjorkdal, Svartliden and Storliden.

On February 21^st, 2019 (the effective date), Barsele released an independently verified Mineral Resource Estimate that was completed by Quebec-based InnovExplo Inc., for the purposes of the Company. This NI 43-101 Technical Report and Mineral Resource Estimate (Amended) for the Barsele Property was modified and resubmitted effective December 16^th, 2020. The Amended Technical Report contains no material differences to the original technical report filed on April 2^nd, 2019. 

The study concluded that drilling to the end of 2018 along the Avan–Central–Skiråsen gold zones at a 0.50 g/t gold cut-off for a pit constrained extraction mining method, a 1.50 g/t gold cut-off for a bulk underground extraction mining method, a 1.80 g/t cut-off for a selective underground extraction mining method, has in combination, outlined an Inferred Resource of 25,495,000 tonnes grading 2.54 g/t gold (2,086,000 ounces of contained gold) and an Indicated Resource of 5,578,000 tonnes grading 1.81 g/t gold (324,000 ounces of contained gold).

The main gold-bearing system remains open in all directions. The structurally linked gold mineralized "lodes" occur mainly within a granodiorite host and to a lesser extent, volcanic and sedimentary rocks. Multiples of parallel to sub-parallel "lodes" that vary in width from 10 metres to 100 metres, combine for a maximum known thickness (including low grade-waste islands) of 425 metres. The Avan–Central–Skiråsen zones have a strike length approaching 3.6 kilometres and that same northwest trending structural corridor does contain localized bodies with gold mineralization over an additional 4.4 kilometres. The drill tested depth of the mineralized system approaches 1.0 kilometre and remains open. Gold is generally associated with arsenopyrite and low base metal content and occurs often as native metal.

During the 2021 drilling campaign between June 2^nd, and July 29^th, Regional "Orogenic Gold" targets and Regional "VMS" targets were tested.

Art Freeze, P.Geo. is the Qualified Person as defined in NI 43-101 and takes responsibility for the technical disclosure contained within this news release.

About Barsele Minerals Corp.

Barsele is a Canadian-based junior exploration company managed by the Belcarra Group, comprised of highly qualified mining professionals. Barsele's main property is the Barsele Gold Project in Västerbottens Län, Sweden, a joint venture with Agnico Eagle. An updated NI 43-101 Technical Report on the Barsele Project with an effective date of February 21^st, 2019, was filed on SEDAR on April 2^nd, 2019. This NI 34-101 Technical Report and Mineral Reserve Estimate (Amended) for the Barsele Property was modified and filed on SEDAR on December 16, 2020.

ON BEHALF OF THE BOARD OF DIRECTORS

Gary Cope
President

This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements and Barsele undertakes no obligation to update such statements, except as required by law.

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

SOURCE Barsele Minerals Corp.

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