Orefinders Completes Drilling on McGarry Project, Assays Pending

TORONTO, May 25, 2022 /CNW/ - Orefinders Resources Inc. ("Orefinders" or the "Company") (TSXV: ORX) is pleased to update shareholders on its now complete drill program at its McGarry Project. The drill program completed 5,433 metres of diamond drilling over 11 holes. Samples have been sent to the laboratory for assaying and the Company expects to receive the results in early June. Orefinders cautions the timing of lab results has been unpredictable.

The Company is now planning its next drill program on its Knight Project in the Shining Tree Distring of Ontario.

Details of McGarry Phase 1 Drill Program

Orefinders' McGarry project is immediately adjacent to the Kerr-Addison Mine. Drill targets for the Phase 1 program were defined based on the results of advanced 3-D constrained inversion modeling performed by Mira Geoscience of new geophysical data sets generated by an ORION SWATH survey performed for the Company by Quantec Geoscience (NR dated March 1, 2021). The new geophysical data sets include both IP (induced polarization) and MT (magnetotelluric) data that together provide high resolution coverage of the Project to depths of around 2,500 meters, which allows for more detailed modeling of the geology and structures at the Project than was previously possible, and for the identification of high priority drill targets.

The Phase 1 drill program and the geological, structural and geophysical context of the high priority drill targets are presented at the following link:

McGarry Phase 1 Drilling Program

QP Statement

The technical information in this news release has been reviewed and approved by Jared Beebe P.Geo., a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects." 

About Orefinders Resources Inc.

Orefinders is a gold exploration and development company focused exclusively on the Abitibi Greenstone Belt. The Company is listed on the TSX Venture Exchange under the symbol ORX. Agnico Eagle Mines Limited (TSX:AEM) holds an option to acquire up to a 75% interest in Orefinders Knight and McGarry projects (the "Projects") in exchange for spending $60 million on the Projects.

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. Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Orefinders' assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Orefinders. Additional information identifying risks and uncertainties is contained in filings by Orefinders with Canadian securities regulators, which filings are available under Orefinders' profile at www.sedar.com.

For the latest updates, please contact or follow us on Twitter @OrefindersR

SOURCE Orefinders Resources Inc.

To Speak to the Company directly, please contact: Stephen Stewart, Chief Executive Officer, Phone: [phone], Email: [email protected], www.orefinders.ca