Drilling at O’Brien delivers high-grade gold intercepts highlighting resource growth potential near surface and at depth

3.07 g/t Au over 32.20 m including multiple high-grade intercepts in the Upper 36E Zone

37.76 g/t Au over 2.00 m below defined resources at the Lower 36E Zone

18.15 g/t Au over 4.40 m, on the fringe of defined resources east of the main 36E trend

Radisson Mining Resources Inc. (TSX-V: RDS, OTC: RMRDF): (“Radisson” or the “Company”) is pleased to announce significant high-grade gold intercepts from the ongoing 60,000 m exploration drill program at its O’Brien gold project located along the Larder Lake Cadillac Break halfway between Rouyn-Noranda and Val-d’Or in Quebec, Canada (See  figure 1 and 2).

“Drill results continue to showcase significant upside to resources at the high-grade O’Brien project. The majority of current resources are contained within a 1.5 km strike (out of a total strike length of 4.5 km) and 400 m vertical depth in a prolific gold camp where deposits (including the old O’Brien Mine) have been mined to depths well below 1,000 m.

The depth potential continues to stand-out with additional high-grade results from the lower 36E Zone that demonstrate the continuity of mineralization well below the current resource boundary. All holes drilled as part of this campaign have intersected mineralization within the targeted geological units, with most holes returning high-grade intercepts, often accompanied by visible gold showings. Of note, OB-19-98W2 returned 37.76 g/t Au over 2.00 m approximately 720 m below the surface, and 60 m west and 100 m above previously released intercept of 66.71 g/t Au over 4.70 m. Drilling continues to demonstrate strong continuity of high-grade mineralization down to 950 m, and within what appears to be a mineralized trend bearing similarities to that historically mined at the Old O’Brien Mine. Mineralization remains open for expansion laterally and at depth, with additional drilling underway to expand mineralization to the west in a largely untested area below the resource boundary.

In addition, shallower drilling aimed at resource expansion and conversion has continued to deliver high-grade results in the upper 400 m of the deposit. In particular, drill hole OB-20-127 returned 3.07 g/t Au over 32.20 m close to the western boundary of currently defined resources, including four high-grade sub-intercepts (5.20 g/t Au over 2.00 m, 7.12 g/t Au over 2.70 m, 6.52 g/t Au over 2.30 m and 8.04 g/t Au over 3.20 m)  within and outside the boundary of currently modeled inferred resources. Our team is currently developing additional drill targets on this part of the deposit which remains open laterally for resource expansion. Another shallow hole, OB-20-135, drilled 300 m east of this area returned 18.15 g/t Au over 4.40 m at the fringe of an indicated resource block, confirming and expanding mineralization 15 m east of a historical intercept of 125.31 g/t Au over 3.05 m.

Our exploration program is focused on three key opportunities for resource expansion: the western extension of the first mineralized trend defined on Lower 36E, the second mineralized trend recently highlighted approximately 300 m east of the first trend and on resource expansion opportunities at shallower depths east and west of these two trends.

Results released so far represent only ~45% of our fully funded 60,000 m program. With three drill rigs now operating at O’Brien, we look forward to releasing additional updates as we continue to drill test high potential targets over the coming months.” commented Mario Bouchard, President and CEO.

Exploration results

Lower 36E Zone (below 600 m) – Expansion drilling at depth

• Hole OB-19-98W2 returned 37.76 g/t Au over 2.00 m core length (vertical depth of 720 m) with visible gold showing in a smoky quartz vein (see photo 1 and photo 2)
  • The intercept was obtained 720 m below the surface at the 36E zone
  • 100 m above and 75 m to the west of previously released intercept of 66.71 g/t Au over 4.70 m (OB-19-92W2b)
• Hole OB-19-98W1 returned 5.70 g/t Au over 2.50 m core length (vertical depth of 950 m, approx.) with visible gold showings (see photo)
  • The intercept was obtained 75 m below OB-19-98W2 and 75 m west of OB-19-92W2b                                                             

In addition, OB-19-98W3 drilled approximately 60 m east of OB-19-98W2 also intersected mineralized zones in the targeted structures including a visible gold showing (see photo), albeit within a wider, lower grade envelope.

Current resources at the 36E zone are limited to 600 m vertical depth. Additional drilling is planned to establish the resource potential in the Lower 36E area, drilling thus far suggests strong continuity of mineralization down to 950 m, within an area extending approximately 300 m laterally and 350 m vertically below the resource boundary. This area remains a key focus for the current drilling program with one drill rig currently drilling a first wedge branch from a pilot hole (OB-20-148)   with the objective of testing the western lateral extension of the high-grade mineralized trend defined on Lower 36E.

Upper 36E Zone (above 600 m) – Resource expansion and conversion drilling

• Hole OB-20-127 returned 3.07 g/t Au over 32.20 m core length (vertical depth of 430.00 m):
  • Including multiple high-grade structures including:
    • 5.20 g/t Au over 2.00 m core length
    • 7.12 g/t Au over 2.70 m core length
    • 6.52 g/t Au over 2.30 m core length
    • 8.04 g/t Au over 3.20 m core length
  • Results highlight the opportunity to expand inferred resources in a sparsely drilled area just above higher-grade intercepts within the main mineralized trend at the 36E Zone.
  • The area remains open laterally in both directions

• Hole OB-20-135 returned 15 g/t Au over 4.40 m core length (vertical depth of 190.00 m) including:
  • 44.80 g/t Au over 0.80 m core length
  • 17.33 g/t Au over 2.50 m core length
  • 300 m east of main mineralized trend at the 36E zone and 15 m east of historical intercept which returned 125.31 g/t Au over 3.05 m
  • Results demonstrate potential to expand indicated resources in the area.

Drill holes completed within the resource area have generally been successful in confirming high-grade mineralization within and at the fringe of key Indicated resources blocks. They have also demonstrated the opportunity to further expand some of these blocks and convert Inferred resources at shallower depths. OB-20-127 (3.07 g/t Au over 32.20 m), OB-20-123 (8.00 g/t Au over 2.00 m and 5.12 g/t Au over 2.60 m) and OB-20-125 (6.89 g/t Au over 2.65 m) were completed within and at the fringe of modeled inferred resources demonstrating continuity of mineralization and highlighting an opportunity to expand resources in an area that remains open laterally in both directions and sparsely drilled between 430 m and 550 m vertical depth. Hole OB-20-135 (18.15 g/t Au over 4.40 m) drilled 300 m east of the main mineralized trend at the 36E zone also appears to highlight the lateral extension of high-grade mineralization at the fringe of Indicated resources.

Fully funded for the completion of the 60,000 m program

• To date 72 drill holes have been completed for a total of 34,230 m, assays are pending for 6,967 m of drilling in 18 drill holes.
• With approximately $8.5m in treasury, Radisson is fully funded to complete and expand the 60,000 m drill program.

^{1 Estimated as at July 15, 2020.}

QA/QC

All drill cores in this campaign are NQ in size. Assays were completed on sawn half-cores, with the second half kept for future reference. The samples were analyzed using standard fire assay procedures with Atomic Absorption (AA) finish at ALS Laboratory Ltd, in Val-d’Or, Quebec. Samples yielding a grade higher than 5 g/t Au were analyzed a second time by fire assay with gravimetric finish at the same laboratory. Samples containing visible gold were analyzed with metallic sieve procedure. Standard reference materials and blank samples were inserted prior to shipment for quality assurance and quality control (QA/QC) program.

Qualified Person

Richard Nieminen, P. Geo, Exploration manager, acts as a Qualified Person as defined in National Instrument 43-101 and has reviewed and approved the technical information in this press release.

About Radisson Mining Resources Inc.

Radisson is a gold exploration company focused on its 100% owned O’Brien project, located in the Bousquet-Cadillac mining camp along the world-renowned Larder-Lake-Cadillac Break in Abitibi, Quebec. The Bousquet-Cadillac mining camp has produced over 21,000,000 ounces of gold over the last 100 years. The project hosts the former O’Brien Mine, considered to have been the Abitibi Greenstone Belt’s highest-grade gold producer during its production (1,197,147 metric tons at 15.25 g/t Au for 587,121 ounces of gold from 1926 to 1957; Kenneth Williamson 3DGeo-Solution, July 2019). For more information on Radisson, visit our website at www.radissonmining.com or contact:

On behalf of the board of directors

Mario Bouchard
CEO and Director

For more information on Radisson, visit our website at www.radissonmining.com or contact:

Hubert Parent-Bouchard
Director, Corporate development
819-763-9969
hpbouchard@radissonmining.com

Certain information contained in the press release are subject to receipt of all regulatory approvals. Neither the 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.

Forward-Looking Statements

All statements, other than statements of historical fact, contained in this press release including, but not limited to, those relating to the intended use of proceeds of the Offering, the development of the O’Brien project and generally, the above “About Radisson Mining Resources Inc.” paragraph which essentially describes the Corporation’s outlook, constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable securities laws, and are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements and future events, could differ materially from those anticipated in such statements. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward looking information can be found in Radisson’s disclosure documents on the SEDAR website at www.sedar.com.

By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management’s endeavours to develop the O’Brien project and, more generally, its expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in our other filings with the securities regulators of Canada. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.