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Ground Gravity Survey Begins at Pine Point’s Lead-Zinc Property Near Hay River

Pine Point Mining Limited is pleased to announce that Quantec Geoscience has begun a ground gravity survey over several underexplored portions of the Company's large lead-zinc property near Hay River, Northwest Territories.

The survey will include 97 line-kilometres at 100 metre line spacing, and follow-up with 50 metre lines where any anomalies are identified. Modelling of known deposits has demonstrated that prismatic and all but the smallest/deepest tabular ore bodies should have a clear gravity response.

One of the key targets of the survey is the former townsite of Pine Point. When the original mine and Pine Point townsite were built by Cominco in 1962-64, the known mineralization was in two trends, known as the Main and North trends. In 1965, another company found the X-15 deposit and in doing so discovered a new mineralized area now known as the South Trend. Cominco acquired the deposit and went on to mine 17.4 million tonnes grading 6.2% zinc and 2.0% lead by open pit. Several other deposits were also discovered along that trend, which provided about 30% of the historical production at Pine Point. The South Trend went directly through the Pine Point townsite, which was withdrawn from staking for several decades. The survey will target both prismatic and tabular type deposits along a 3.3 km portion of the South Trend under the former town site (see survey map).

A survey will also be conducted around the former Pine Point mill site, which was also under-explored. Any targets outlined in this survey will be drilled as part of the fall drilling program expected to begin in early October.

In November, a heli-borne gravity gradiometer survey will be conducted in the western portion of the North Trend, covering an additional 709 line-kilometres at 50 metre line spacing, which will be followed up by drilling over the coming winter.

Stephen Reford, P.Eng., a Qualified Person under NI 43-101, reviewed and approved the scientific and technical information presented in this press release.

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