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Oban Reveals New Results from Ongoing Drill Program at Windfall Lake Gold Project

Oban Mining Corporation is pleased to announce new results from the ongoing drill program at its 100% owned Windfall Lake gold project located in Urban Barry Township, Québec. The 55,000 metre drill program combines definition drilling above the Red Dog intrusion and expansion drilling above and below Red Dog.

Highlights from 5 new drill holes include: 7.71 g/t Au over 6.9 metres in the extension of DDH EAG-11-269, 19.00 g/t Au over 3.0 metres in DDH OBM-16-583; 8.43 g/t Au over 4.6 metres including 230.0 g/t Au over 0.3 metres; 5.17 g/t Au over 2.2 metres in DDH OBM-16-593 and 12.85 g/t Au over 4.2 metres in DDH OBM-16-600. The table below outlines significant results from the new drill holes:

Hole From(m) To (m) Interval (m) Au (g/t) Zone
EAG-11-269 ext 737.1 744.0 6.9 7.71 FW3 below Red Dog
    Including 739.7 740.7 1.0 42.10
OBM-16-583 774.0 777.0 3.0 19.00 -
    including 776.0 777.0 1.0 55.00
OBM-16-593 46.4 48.6 2.2 5.17 Crustiform vein
53.0 57.6 4.6 8.43 Crustiform vein
cut to 100g/t Au
    including 55.3 55.6 0.3 230.0
OBM-16-595 63.0 65.5 2.5 4.08 Main Zone
OBM-16-600 166.6 170.8 4.2 12.85 Zone 27 (hanging wall portion)
    including 166.6 167.7 1.1 18.85
    and 169.7 170.8 1.1 23.50
178.5 182.0 3.5 3.36 Zone 27 (central portion)

Drill Hole Collar Coordinates and Information:

Hole Number Azimuth(°) Dip(°) Length (m) UTM E UTM N Section
EAG-11-269 ext 330.0 -56.0 997.3 452471 5434647 2575
OBM-16-583 332.0 -55.0 802.5 451770 5434110 1700
OBM-16-589 330.0 -70.0 84.0 452855 5434932 3050
OBM-16-590 330.0 -55.0 748.5 451730 5434180 1700
OBM-16-591 330.0 -59.0 120.0 452902 5434951 3100
OBM-16-592 330.0 -78.0 51.0 452560 5434843 2750
OBM-16-593 150.0 -72.0 78.0 452607 5434863 2800
OBM-16-594 150.0 -78.0 150.0 452624 5434933 2850
OBM-16-595 150.0 -79.0 75.0 452681 5435035 2950
OBM-16-596 333.0 -60.0 27.0 452854 5434571 2875
OBM-16-597 331.0 -51.0 277.5 452005 5434510 2100
OBM-16-599 331.0 -50.0 271.5 451987 5434537 2100
OBM-16-600 331.0 -48.0 253.5 452030 5434562 2150

Drilling above Red Dog is focused on expanding the known zones and upgrading the level of confidence in the mineral resource. Drilling below Red Dog is focused on testing three major corridors of mineralization and alteration (FW-1, FW-3, FW-4) oriented ENE and dipping steeply to the SE, similar to the known lenses of the Main Zone defined above Red Dog. Some of the deeper holes are designed to test gold mineralization both above Red Dog and the corridors of mineralization and alteration below Red Dog.

EAG-12-269 (section 2575) was extended from 567.2 metres to 997.3 metres to test the FW3 and FW4 lenses below the Red Dog intrusion. The FW3 lens returned 7.71 g/t Au over 6.9 metres in a zone carrying up to 15 percent pyrite and visible gold in a strongly silicified andesite. This new intercept is located between 9.96 g/t Au over 5.8 metres in EAG-11-289 (39 metres down-plunge) and 7.96 g/t Au over 2.1 metres in EAG-13-511 (117 metres up-plunge) This higher grade sector remains open up-plunge where another historical drill hole is currently being extended.

OBM-16-583 (section 1700) targeted the southwest extension of the FW3 lens below the Red Dog intrusion. The FW3 lens was intersected from 689.0 metres to 705.0 metres in a strongly altered porphyry dyke with 2-5% pyrite but did not return any significant results. OBM-16-583 intersected a zone of quartz veining at the contact between a gabbro dyke and a rhyolite assaying 19.0 g/t Au over 3.0 meters.

OBM-16-593 (section 2850) targeted the eastern extension of the Main Zone in an area characterized by high grade crustiform quartz veins. The drill hole intersected two crustiform veins surrounded by silicified and pyritized rhyolite that assayed 5.17 g/t Au over 2.2 metres and 8.43 g/t Au over 4.6 metres, including 230.0 g/t Au over 0.3 metres respectively. The higher grade vein expands by 10 metres down-dip (from 21.43 g/t Au over 1.82 metres in NOT-07-146) a known vein that extends for 100 metres along strike and 50 metres vertically.

OBM-16-595 (section 2950) was targeting the ENE of the modelled Caribou corridor. This drill hole intersected shallow mineralization with 4.08 g/t Au over 2.5 metres in a weakly altered rhyolite containing 2-3% pyrite in stringers.

OBM-16-600 (section 2150) targeted Zone 27 at 120 metres below surface in a relatively untested sector where low-grade gold mineralization was interpreted. This drill hole intersected Zone 27 and returned 12.85 g/t Au over 4.2 metres, including 18.85 g/t Au over 1.1 metres and 23.50 g/t Au over 1.1 metres at the mineralized contact between a gabbro dyke and a rhyolite unit This was followed by 3.36 g/t Au over 3.5 metres in a strongly silicified porphyry dyke containing 5% pyrite in stringers.

Holes OBM-16-589, OBM-16-591, OBM-16-592, and OBM-16-594 were designed to test shallow mineralization in the ENE extension of the Main Zone. Several gold-bearing intervals associated with crustiform quartz veining, were intersected, including: 2.31 g/t Au and 31.17 g/t Ag over 0.9 metres in OBM-16-584, 8.68 g/t Au over 0.4 metres in OBM-16-591 and 9.0 g/t Au over 1.5 metres in OBM-16-594. Drill hole OBM-16-592 did not intersect any significant mineralization. Drill holes OBM-16-590, OBM-16-597, and OBM-16-599 were drilled in the western extension of the Main Zone. OBM-16-599 intersected the extension of Zone 27 with 2.11 g/t gold over 5.6 metres whereas the other two drill holes did not return any significant results. Drill hole OBM-16-596 was abandoned due to technical difficulties.

Source: http://www.braevalmining.com/

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