Reunion Gold Confirms Extension of High-Grade Mineralization to 1000 Metres Depth at Oko West and Additional Strong Drill Results of 33.0 m @ 7.26 g/t Au, 13.0 m @ 8.41 g/t Au and 12.36 m @ 10.36 g/t Au

LONGUEUIL, Québec, Dec. 13, 2023 (GLOBE NEWSWIRE) -- Reunion Gold Corporation (TSXV: RGD; OTCQX: RGDFF) (the “Company” or “Reunion Gold”) is pleased to announce additional drill results from its Oko West project, Guyana and provides an update on the Oko West development studies.

• Highlights from the resource expansion drilling program beneath the June 2023 Mineral Resource Estimate (“MRE”) pit shell between approx. 500 m to 1,000 m include Holes: D-336 intersecting 33.0 m @ 7.26 g/t Au; D-346A-W1 intersecting 13.0 m @ 8.41 g/t Au and 12.3 m @ 10.36 g/t Au; and D-347-W2 intersecting 17.4 m @ 4.92 g/t Au and 13.4 m @ 5.09 g/t Au (all reported using a 1.5 g/t cutoff grade).
• Highlights from resource conversion drilling above approx. 500 m include Holes D-343 intersecting 110.6 m @ 2.77 g/t Au; D-340 intersecting 105.1 m @ 2.15 g/t Au; and D-342-W1 intersecting 88.7 m @ 2.45 g/t Au (all reported using a 0.3 g/t cutoff grade).
• Resource expansion drilling at depth below the MRE pit continues to indicate that the high-grade zone identified within the MRE in block 4 continues to a depth of at least 1000 meters.

Rick Howes, President and CEO of Reunion Gold, stated: “We are pleased with the results of the deep drill program which continues to indicate that the high-grade zone that was identified within the MRE in Block 4, continues to a depth of at least 1000 meters and is open below that. We expect this resource expansion drill program to be completed early in 2024 and those results will be included in the resource. The resource will include both an updated pit constrained resource in the area above 500 m and an initial resource in the area down to a 1,000-meter depth. We remain on track to release a Preliminary Economic Assessment (“PEA”) in Q2/24, which will include this resource update and investigate the potential for a combined open pit and underground mining operation. We also continue to explore other areas of the Oko West prospecting license for potential satellite deposits.” 

The latest results from the deep drilling resource expansion program (below the MRE pit shell on Block 4) between approx. 500 meters to 1,000 meters depths are reported in Table 1 and shown in Figure 1. Highlights of this drilling include: Hole D-336 which intersected 33 m @ 7.26 g/t Au to a depth of approx. 805 m, within a broader interval of 78.2 m @ 3.45 g/t Au; Hole D-346A-W1 which intersected 13.0 m @ 8.41 g/t Au and 12.3 m @ 10.36 g/t Au to a depth of approx. 820 m, within a broader interval of 82.6 m @ 3.7 g/t Au; Hole D-342-W1 intersecting 4.6 m @ 9.58 g/t Au and 9. 5 m @ 5.61 g/t Au to a depth of approx. 660 m, within a broader interval of 88.7 m @ 2.45 g/t Au and Hole D347-W2, which intersected 17.4 m @ 4.92 g/t Au and 13.4 m @ 5.09 g/t Au to a depth of approx. 1029 m within a broader interval of 68.7 m @ 2.80 g/t Au. The high-grade results reported above are calculated using a 1.5 g/t Au cut-off while the broader intervals reported were calculated using a 0.3 g/t Au cut-off. A detailed list of the drill results associated with this press release can be found on Reunion Gold’s website: Results

Results from the resource conversion drill program (within the MRE pit shell above approx. 500 meters) continue to demonstrate the strong level of continuity and consistency of the Oko West deposit (see Table 2). Drilling for this program is expected to be completed shortly and the results will be included in the planned resource update in Q2/2024. Highlights from the resource conversion drilling include Hole D-343 intersecting 110.6 m @ 2.77 g/t Au; Hole D-340 intersecting 105.1 m @ 2.15 g/t Au; Hole D-335 intersecting 121.6 m @ 1.59 g/t Au; and Hole D-339 intersecting 46.0 m @ 3.10 g/t Au. These results are reported using a 0.3 g/t Au cut-off grade.

Table 1 - Significant Intervals below the MRE in Block 4, from the expansion drilling program being carried out at depths below 500 m from surface.

Table 2 - Significant Intervals within Block 4, from the infill drilling program being carried out at depths less than 500 m below surface.

The Company also continues its drilling program in the western portion of the Oko West Prospecting License, which includes a combination of drill testing exploration targets and condemnation drilling in areas of proposed infrastructure.

Development Studies Update

The Company continues to advance several development related initiatives including advancing the environmental and social baseline studies and permitting. Reunion Gold has completed the required fieldwork for the second phase of baseline studies, which includes the physical baseline (groundwater, air quality, etc.), the biological baseline (plants, animals and aquatic ecosystems) and community meetings to evaluate the current socio economic and community health baselines as well as to assess any potential cultural heritage considerations. The Company has submitted its application to the Environmental Protection Agency, which is the beginning of the process to obtain an Environmental Permit for Oko West. As part of this process, the Company has conducted meetings with government agencies and local communities to get feedback that will be incorporated into the Terms of Reference for the Environmental and Social Impact Assessment (“ESIA”). The ESIA comprises a key part of the permitting process and it is anticipated that it will be submitted in Q4 2024.

To build its human resources capability, Reunion Gold continues to add key members to its team. As part of this, the Company is pleased to welcome Bjorn Jeune as its Country Manager for Guyana. Bjorn will oversee the permitting process and be responsible for public affairs and community engagement. Bjorn has over 24 years in the mining industry, working as a geologist at various organizations in Guyana and most recently was Country Manager for ETK (Toroparu project). Bjorn holds a bachelor's degree in Mineral Resource Evaluation from the University of Guyana and an MBA in Engineering and Construction Project Management from Universidad International Isabel I de Castilla in Spain.

Sample Collection, Assaying and Data management

Significant intervals in this press release have been calculated using a grade cut-off of 0.3 g/t Au, a minimum length of ten meters, and a maximum length of ten meters of consecutive internal waste. Included significant intervals have been calculated using a grade cut-off of 1.5 g/t Au, a minimum length of three meters, and a maximum length of three meters of consecutive internal waste. Gold grades are uncapped. Mineralized intersection lengths are not necessarily true widths and estimated true thickness (“ETT”) has been calculated using an assumed plane of mineralization dipping 65° towards 095°, representative of the mineralization identified in Block 4. Complete drilling results and drill hole data are posted on the Company's Website. Diamond drill (DD) samples consist of half of either HQ or NQ core taken continuously at regular intervals averaging 1.4 m, bagged, and labelled at the site core shed. Reverse circulation (RC) drill samples are obtained from a rotary splitter attached to a Metzke cyclone, weighed, bagged, and tagged at the drill site. All resource drilling samples are shipped to the Actlabs certified laboratory in Georgetown, Guyana, respecting best-practice chain of custody procedures. Samples from the Scout RC program and recent conventional RC samples are shipped to MS Analytical laboratory in Georgetown using the same chain-of-custody procedures. At each laboratory, samples are dried, crushed to 80% passing 2 mm, riffle split (250 g), and pulverized to 95% passing 105 μm. Coarse blanks are inserted by the Company, and are used between and following suspected high-grade intervals. Barren sand flushes are inserted by the analytical laboratory after each sample is pulverized to clean the bowl. Gold analysis is carried out through a 50 g fire assay with an atomic absorption finish. Initial assays with results above 3.0 g/t Au are re-assayed with a gravimetric finish. Samples with visible gold are additionally assayed with a metallic screen method using 1 kg of pulp. Certified reference materials and blanks are inserted at a rate of 5% of samples shipped to the laboratories. RC field duplicates and DD umpire pulp duplicates are also generated at a rate of 5% of samples. Pulp umpire duplicates are analyzed at the MS Analytical certified laboratory in Georgetown. Assay data is subject to QA/QC prior to accepting into the Company database managed by an independent consultant.

Qualified Person

The technical information in this press release has been reviewed and approved by Justin van der Toorn, the Company's VP, Exploration. Mr. van der Toorn (CGeol FGS, EurGeol) is a qualified person under Canadian National Instrument 43-101.

About Reunion Gold Corporation

Reunion Gold Corporation is a leading gold explorer and developer in the Guiana Shield, South America. In early 2021, the Company announced an exciting new greenfield gold discovery at the Kairuni zone on its Oko West project in Guyana, and in June 2023, the Company announced an initial Mineral Resource Estimate containing 2.475 Moz of gold in Indicated resources grading 1.84 g/t Au and 1.762 Moz of gold in Inferred resources grading at 2.02 g/t (see NI 43-101 Technical Report Oko West Gold Project dated effective June 1, 2023 on the Company’s website and on SEDAR+). In addition to advancing the development of the Kairuni zone resource, the Company is actively exploring several additional priority exploration targets at Oko West with the objective of outlining additional satellite deposits.

The Company's common shares are listed on the TSX Venture Exchange under the symbol 'RGD' and trade on the OTCQX under the symbol 'RGDFF'. Additional information about the Company is available on SEDAR+ (www.sedarplus.ca) and the Company's website (www.reuniongold.com).

For further information, please contact:

REUNION GOLD CORPORATION
Rick Howes, President and CEO, or Doug Flegg, Business Development Advisor
E: doug_flegg@reuniongold.com
E: info@reuniongold.com
Telephone: +1 450.677.2585

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities laws (collectively, "forward-looking statements"). Statements and information that are not historical facts are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible" and similar expressions, or statements that events, conditions, or results "will", "may", "could" or "should" occur or be achieved. Forward-looking statements in this press release include statements regarding plans to complete drilling and other exploration programs and studies, exploration and drill results and interpretation of such results, potential mineralization, plans to complete a preliminary economic assessment and a feasibility study, and expectations regarding the results of such assessment and study, forward looking assumptions used relating to the mineral resources estimates, expectations to expand the resources at depth and elsewhere within the Oko West Project, as well as statements regarding beliefs, plans, expectations or intentions of the Company.

Forward-looking statements and the assumptions made in respect thereof involve known and unknown risks, uncertainties and other factors beyond the Company's control including risks and uncertainties related to timing, cost and results of exploration programs and development studies; uncertainties inherent with conducting business in foreign jurisdictions including corruption, civil unrest, political instability; geopolitical risks including risks related to recent actions taken by the government of Venezuela over the border dispute; unanticipated title disputes; gold price volatility; currency fluctuations; risks associated with the recurrence of COVID-19 or future pandemics; delays in obtaining governmental approvals or financing; risks regarding potential and pending litigation proceedings; regulatory risks and liabilities including, regulatory environment and restrictions; metallurgical testing and recoveries and other risks of the mining industry; speculative nature of gold exploration; dilution; share price volatility; competition; and loss of key employees. Additional information on these risks and other factors is included in documents and reports filed by the Company with Canadian securities regulators and available at SEDAR+ (www.sedarplus.ca) including, but not limited to, the cautionary statements made in the relevant sections of the Company’s Annual Information Form and Management Discussion & Analysis.

Forward-looking statements in this press release are made as of the date herein. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements in this press release are reasonable, undue reliance should not be placed on such statements. New factors emerge from time to time, and it is not possible for management of the Company to predict all such factors and to assess in advance the impact of each such factor on the business of the Company or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information or future events or otherwise, except as may be required by law.

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

Figure 1 - Inclined long section across Block 4, showing selected results and drill hole locations reported in this press release. ETT = Estimated True Thickness; Significant intersects are calculated using a 0.3 g/t Au cutoff, 10 m minimum down hole length and 10 m maximum consecutive internal dilution; Included intersects are calculated using a 1.5 g/t Au cutoff, 3 m minimum down hole length and 2 m maximum consecutive internal dilution.
LINK TO FIGURE 1: https://www.reuniongold.com/231213-pr?lightbox=dataItem-lq2th76w1