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Callinex provides Manitoba and New Brunswick exploration update

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Global Mining Review,

Callinex Mines Inc. has announced the progress from the 2021 drilling campaign at its 100% owned Pine Bay Project, which hosts the emerging high-grade copper, gold, silver and zinc Rainbow Deposit (the Rainbow). The Rainbow is located within a mineral lease, less than 200 m from a high-voltage hydroelectric power-line and 500 m from a historic shaft with direct road access to processing facilities in Flin Flon, Mannitoba.

Max Porterfield, President and CEO, stated: “Our team has done a tremendous job in expanding the Rainbow deposit with a keen focus on chasing the deposit to surface. The potential for the high-grade copper and gold deposit to come near the surface could significantly reduce upfront capital costs and development timelines. As we eagerly await a significant backlog of assay results, we are already planning ambitious goals to be achieved in the New Year.”

Year to date, Callinex has drilled 64 holes for 34 250 m of drilling which focused on expanding the Rainbow Deposit to the surface while also testing high priority targets. Since the company’s last exploration update, highlighted by PBM-138 which intersected 37 m of 6% copper, 0.35 g/t gold, 6.13 g/t silver, 0.09% zinc or 6.33% copper equivalent (CuEq) (see news release dated 7 September 2021), the company has completed 37 holes for 17 270 m which are pending results from the assay laboratory.

Drilling at Rainbow since September has tested above the 300 m level and within 35 m of surface. Rainbow has the potential to quickly emerge as one of the most shallow discoveries made in modern history within the Flin Flon Mining District. Additionally, the exploration targets that have been tested are located within an interpreted growth fault corridor which has hosted five other deposits prior to the discovery of Rainbow, three of which have seen some level of historic production.

One drill rig has recently been shut down for the season while the other rig is testing regional exploration targets to the west and was anticipated to be shut down prior to 20 December 2021. Since the company discovered the Rainbow Deposit in August 2020, the company has drilled 71 holes (including 15 wedges) for a total of 39 950 m into the deposit area. Callinex will continue to provide exciting news flow for the duration of the 2021 drilling campaign and heading into the next year.

New Brunswick exploration update

In July, Callinex commenced its 2021 New Brunswick exploration campaign at its 100% owned Nash Creek Project to follow-up on two regional near surface silver discoveries and subsequent anomalies identified via a regional soil sampling campaign. Callinex drilled 12 holes encompassing 3320 m of drilling and completed the drilling by September. The company is still awaiting assay results from the drill holes completed and will announce results when they are all received.

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