IRW-News: Cross River Ventures Corp.: Cross River Completes Phase 1 Field Work in Manitou, Shabu and Dent-Jackson; Select grab samples of up to 126 g/t Au at the Shabu Gold Project in northwestern Ontario, Canada

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IRW Press: Cross River Ventures Corp.: Cross River Completes Phase 1 Field Work in Manitou, Shabu and Dent-Jackson; Select grab samples of up to 126 g/t Au at the Shabu Gold Project in northwestern Ontario, Canada

Vancouver, British Columbia, Canada – August 25, 2021 – Cross River Ventures Corp. (CSE: CRVC) (FSE: C6R) (Company) is pleased to provide shareholders with an update on the progress of exploration work for 2021 on its portfolio of gold projects in northwestern Ontario, Canada.

The Summer Phase 1 exploration programs on the company’s Manitou, Shabu and Dent-Jackson projects have been completed. Rock samples from outcrops, floats, and historic mine dumps all returned high grade gold on projects, including:

– Shabu: 126 grams per ton of gold (g/t Au), 8.28 g/t Au and 2.73 g/t Au

– Dent-Jackson: 17.8 g/t Au, 13.2 g/t Au and 8.43 g/t Au

– Manitou: 26.7 g / t au, 24.6 g / t au and 15,5 g / t au

Mineralization is associated with open, productive formations that are little explored. The Cross River technical team is evaluating these results and has a planned action plan for further exploration work.

Manitou – Phase 1 Summary and Results

Thunder Bay’s Bayside Geoscience Inc. has been selected by Cross River Ventures to conduct exploration mapping, prospecting and sampling of the Manitou property in the Eagle-Wabigoon-Manitou Lake Greenstone Belt, 25 miles south of Dryden. The field team ran a 16-day program on the recently expanded Manitou gold assets (6,750 ha), focused on the evaluation of gold-bearing structures identified by the company’s data collection. The field program was focused on the southwest portion of the property, which includes the Reliance Shear Trend and the Queen Alexandria-Bird Island Trend (see company news release on May 13, 2021).

A total of 83 rock samples were sent to ALS laboratories for analysis and returned gold values ​​ranging from minus 26.70 g/t AU. Table 1 shows the results of analysis of rock samples with a grade of >0.1 g/t Au. As part of the field programme, all interesting historical events were explored and evaluated, notably the Queen Alexandria Shaft, for which historical gold production has been recorded since 1904 (MDI52F07SW00008). Phase 1 sampling identified high-grade gold in the area and float samples collected from the debris around the historic shaft returned 26.70 g/t Au, 24.60 g/t Au and 15.50 g/t Au. There are no records of historical drilling in the vicinity of the Queen Alexandria Shaft. Field work also confirmed the presence of open northeast trending shear zones associated with gold and identified several areas of interest for further evaluation. See Table 1 and Figure 1 for sample locations and selected analytical results.

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Table 1: Selected analysis results from the 2021 field work for the Manitou gold asset. Only results > 0.1 g/t Au are shown here.

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Figure 1: Manitou gold assets – locations of samples from the 2021 sector program

Shabu – Phase 1 Summary and Results

Bayside Geoscience conducted a 14-day prospecting, mapping and sampling program at the Shabu Gold property in the Birch-Uchi Greenstone Belt, 70 km northeast of Red Lake City. The program was designed to focus on historical events, improving mapping on the property, and prospecting areas with no documented historical data on the property. The teams managed to cover a wide area and successfully trace all known historical events, as well as discover new areas of gold mineralization.

A total of 191 rock samples were sent to ALS laboratories for analysis and returned gold values ​​ranging from zero to 126 g/t AU. Table 2 shows analysis results from rock samples with a grade of >0.1 g/t Au. Highlights of the program include: 1) the identification of a new zone of mineralization that has not yet been documented, consisting of 2.73 g/t Au and 1.51 g/t Au of heavily leafy, acarite-converting groups, and 2) Further tests are included. The high-grade Wayne Flint Rock Mines returned 126 g/t Au, 8.28 g/t Au and 1.61 g/t Au in east–west trending quartz veins. The significant analytical results are shown in Table 2, and the sample locations are shown in Figure 2.

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Table 2: Selected analysis results from field work in 2021 for Shabu Gold assets. Only results > 0.1 g/t Au are shown here.

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Figure 2: Shabu Gold Assets – Locations of Samples from the 2021 Sector Program

Dent-Jackson Phase 1 Summary and Results

Bayside also conducted a 7-day prospecting, mapping and sampling program at the Dent-Jackson Gold property in the Birch-Uchy Greenstone Belt, 60 km northeast of Ear Falls Township. This program was intended to further examine historical high-grade events and expand on known mineralization, in particular the Caribou Wayne and East Little Woman Lake (ELWL) gold events (discussed in a January 28, 2021 news release) Had to do. Field teams discovered evidence of extensive historical surface work (debris removal, excavations, pits, etc.) in the area.

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A total of 113 rock samples were sent to ALS laboratories for analysis and returned gold values ​​ranging from zero to 17.8 g/t AU. Table 3 shows analysis results from rock samples with a grade of >0.1 g/t Au. Highlights of samples collected during the program include 13.2 g/t and 1.63 g/t Au from outcrops and float boulders in the ELWL event. Mineralization is open in both areas. Important analytical results are listed in Table 3, with sampling locations shown in Figure 3.

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Table 3: Selected analysis results from the 2021 field work for the Dent-Jackson gold property. Only results > 0.1 g/t Au are shown here.

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Figure 3: Sampling Locations from the Dent-Jackson Gold Property – 2021 Field Program

more work

Bayside completed four weeks of work on the 12,000-acre McVicar Project. The results of sampling/analysis are still pending. Additional exams include the 60-day GeoProbe program at McVicar. Lidar data was obtained and used for interpretation. The next field program will take place in Muscooch from the end of August, followed by a field program in Year Falls, starting in the fall.

More detailed area maps of the Cross River Ventures project portfolio are available at www.crossriverventures.com.

analytical method

All samples from 2021 included in this announcement have been sent to the ALS Geochemistry Laboratories in Thunder Bay, Ontario, for analysis. Samples were prepared using a standard PREP-31 rock/core package and analyzed for gold using a standard fire assay and ICP-AES (ALS code: Au-ICP21). Samples greater than 10.0 g/t Au were further analyzed by fire assay with gravimetric closure (ALS code: Au-GRA21).

Note: Grab samples are selective in nature and may not be representative of the average grade or type of mineral. However, they will be used to set additional exploration targets on the properties.

Editing of technical material published in this press release was reviewed and approved by Dr. Rob Carpenter, P.Geo., Ph.D., a qualified individual as defined by National Instruments 43-101. Doctor. Carpenter has no close relationship with the company. The company has not verified the historical research results contained in this press release. However, referenced historical reports were written by skilled geoscientists, and copies of laboratory test forms were usually included in the report.

about the company

Cross Rivers is a gold exploration company focused primarily on developing high-value exploration concessions in major mining areas. The company has a portfolio of several projects in northwestern Ontario, Canada, located in very promising areas within or near the high-yield gold-bearing greenstone belt. The company has also signed an option agreement to acquire 100% undivided interest in the Tehsil property. The property is an early exploration gold license located in the Nanaimo Mining District on Vancouver Island, British Columbia. The Cross River common stock trades on the CSE under the symbol CRVC.

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for board of directors

Cross River Ventures Corp.

Alex Kleinman

CEO

604-227-6610

[email protected]

www.crossriverventures.com

Cross River Ventures Corp.

Suite 1430, 800 West Pender Street

Vancouver, British Columbia

v6c 2v6

The Canadian Securities Exchange and its regulatory bodies (referred to in the articles of the Canadian Securities Exchange as Regulation Services Providers) assume no responsibility for the adequacy or accuracy of this release.

This press release may contain forward-looking statements. These statements are based on current expectations and assumptions that involve risks and uncertainties. Actual results may differ materially from those described in the Management Statement and Analysis (MD&A) section of our interim and most recent annual reports and other reports and documents for filing with the Canadian Securities Exchange and applicable Canadian securities laws. This can vary greatly. We are not obligated to update any forward-looking statements except as required by applicable law.

Reference

http://www.geologyontario.mndm.gov.on.ca/mndmfiles/mdi/data/records/MDI52F07SW00008.html

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