Category

2020

San Marco Mobilizes Field Crew and Commences 2020 Exploration Program at Buck Property, Central B.C. – Highlights Include Significant Gold in Historical Trenches

By | 2020

Vancouver, B.C. June 23, 2020: San Marco Resources Inc. (TSX-V: SMN) (“San Marco” or the “Company”) announces the mobilization of a field crew on its flagship gold/silver/zinc Buck property in north-central B.C. The 100% optioned property consists of 15,000 hectares and is located just south of the town of Houston, B.C.

Highlights include:

  • Geological mapping, structural analysis, and geochemical sampling to be completed.
  • Multiple targets identified on the property through historic data compilation.
  • Continuous rock chip intervals in the Trench Zone include 48 metres of 2.96 g/t Au, 48 metres of 2.61 g/t Au, and 45 metres of 1.82 g/t Au. (1)
  • Significant drill hole intercepts in the Trench Zone include 8 metres of 2.70 g/t Au, 33 g/t Ag, and 12.0 metres of 1.06 g/t Au, 25 g/t Ag. (1)
  • Phase 2 drill program to commence within weeks of field work completion.

The team has begun on-site field reconnaissance and preparation for the summer 2020 exploration program, with geologists arriving shortly.

San Marco’s CEO, Bob Willis, states “We are excited to begin field work at the Buck property. We have a number of excellent drill targets generated through historic data compilation and are keen to get on site, evaluate their priority, and get the drill turning again. The geology at Buck appears very similar to the geology at the Blackwater deposit, recently acquired by Artemis Gold from New Gold Inc. We’re producing the first compilation of historic results from multiple sources. This is generating very compelling targets in several lightly explored areas kilometres away from the bulk of historical work. Results from these new target areas are still being refined and will be released as they are compiled.”

The summer exploration program will include geological mapping and geochemical sampling of key exploration targets identified through analysis of historic geological, geochemical, and geophysical data compiled by San Marco’s technical team. Drilling of multiple targets is planned within a few weeks after the initial field work is completed.

Of particular interest is a zone to the west of the Phase 1 diamond drilling program announced on April 8, 2020 (Figure 1). Newly recovered records of historic work in the “Trench Zone” includes drilling and geochemical sampling in the form of soil and rock samples, as well as rock chip samples taken from trenches (Figure 2). Rock chip samples are noted as continuous 3 metre intervals; significant intercepts include 48 metres of 2.96 g/t Au, 48 metres of 2.61 g/t Au, and 45 metres of 1.82 g/t Au. (1)

Continuous rock chip intervals from historic trenching in the Trench Zone appear in Table 1 below.

Table 1. Historic Continuous Rock Chip Intervals from Trenches

* Individual rock chip samples are 3 metres in length

Historic drilling in the Trench Zone also identified continuous near-surface mineralization, including 30.8 metres of 2.70 g/t Au, 33 g/t Ag, and 12.0 metres of 1.06 g/t Au, 25 g/t Ag. (1)

Significant drill hole intercepts within the Trench Zone appear in Table 2 below.

Table 2. Historic Drill Hole Intercepts

* Drill core length, not true lengths

The 2020 exploration program will be carried out in compliance with federal, provincial, and municipal guidelines established in response to the global COVID-19 pandemic. Strict safety protocols will be in place to protect the health of employees, contractors, consultants, and their families.

Change of CEO

San Marco also announces the appointment of Bob Willis as CEO. Mr. Willis previously held the role of Executive Director. This change was made following the Company’s Annual General Meeting held on June 11, 2020.

(1)     The drill and rock chip results were obtained from parties that previously explored the property. The Company believes the significant intercepts to be accurate and comply with industry best practices at the time of drilling.

Links to Figures

Figure 1:
https://sunsummitminerals.com/wp-content/uploads/2020/06/Buck_Drilling_Sampling_Jun16_NR.pdf

Figure 2:
https://sunsummitminerals.com/wp-content/uploads/2020/06/Buck_Trench_Zone_Jun2020_NR-v2.pdf

About San Marco

San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc, and copper projects with a focus in mining friendly jurisdictions in both British Columbia and Mexico.

The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region and includes many former and current operating mines. The Company’s portfolio also includes the several prospective, early stage exploration properties in Mexico.

San Marco is committed to environmental and social responsibility with a focus on responsible development to generate positive outcomes for all stakeholders.

Further details are available at sunsummitminerals.com

For further information, contact:

Sharyn Alexander, M.Sc.
VP Technical Services

Nancy Curry
Corporate Communications

info@sunsummitminerals.com

National Instrument 43-101 Disclosure

This news release has been approved by San Marco’s CEO, Robert D. Willis, P. Eng. a “Qualified Person” as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has also verified the data disclosed, including sampling, analytical and test data, underlying the technical information in this news release.

Forward Looking Information

Information set forth in this document may include forward-looking statements. While these statements reflect management’s current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco Resources Inc. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco’s actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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San Marco Grants Stock Options

By | 2020

Vancouver, B.C. – June 2, 2020: San Marco Resources Inc. (TSX-V: SMN) announces that it has granted stock options to two directors and officers to purchase a total of 300,000 common shares at a price of $0.30 per share for a period of five years.

About San Marco

San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc and copper projects with a focus in mining friendly jurisdictions in both British Columbia, Canada and Mexico.

The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region and includes many former and current operating mines. The Company’s portfolio also includes the several prospective, early stage exploration properties in Mexico.

San Marco is committed to environmental and social responsibility with a focus on responsible development to generate positive outcomes for all stakeholders.

Further details are available at sunsummitminerals.com

For further information, contact:

Sharyn Alexander, M.Sc.
VP Technical Services

Nancy Curry
Corporate Communications

info@sunsummitminerals.com

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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San Marco Completes $690,000 Private Placement

By | 2020

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES OF AMERICA

Vancouver, B.C. – June 1, 2020: San Marco Resources Inc. (TSX-V: SMN) announces that it has completed its private placement announced on May 15, 2020. A total of 3,000,039 units at a price of $0.23 per unit were sold for gross proceeds of C$ 690,009. Each unit consisted of one common share and one share purchase warrant to purchase one common share for $0.30 until May 29, 2023. The shares issued and issuable under this private placement will be subject to a four month restricted resale period expiring September 30, 2020.

The private placement was 100% subscribed by members of the Augusta Group including over 50% by Augusta Investments Inc., a company beneficially held by Richard W. Warke. The Augusta Group is a mining sector focused management group based in Canada and the United States. Augusta has an industry leading track record of value creation totalling over C$ 4.5 billion in exit transactions since 2011, and has strategic partnerships with the leading entrepreneurs in the mining sector. Additional information on the Augusta Group can be found at www.augustacorp.com

Proceeds of the private placement will be used for funding exploration of the Buck property and working capital.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirement is available.

About San Marco

San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc and copper projects with a focus in mining friendly jurisdictions in both British Columbia, Canada and Mexico.

The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region that includes many former and current operating mines. In addition, the Company’s portfolio includes the several prospective, early stage exploration properties in Mexico.

For further information, contact:

Robert Willis, P. Eng.
Executive Director

Nancy Curry
Corporate Communications

Sharyn Alexander, M.Sc.
VP Technical Services

info@sunsummitminerals.com

Forward Looking Information

Information set forth in this document may include forward-looking statements. While these statements reflect management’s current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco Resources Inc. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco’s actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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San Marco Arranges $690,000 Private Placement

By | 2020

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES OF AMERICA 

Vancouver, B.C. – May 15, 2020: San Marco Resources Inc. (TSX-V: SMN) announces that it has arranged a private placement of 3,000,000 units at a price of $0.23 per unit for gross proceeds of C$ 690,000. Each unit will consist of one common share and one share purchase warrant to purchase one common share for three years at a price of $0.30. No finder’s fees will be payable in connection with the placement.

The private placement is 100% subscribed by members of the Augusta Group including over 50% by Augusta Investments Inc. a company beneficially held by Richard W. Warke. The Augusta Group is a mining sector focused management group based in Canada and the United States. Augusta has an industry leading track record of value creation totalling over C$ 4.5 billion in exit transactions since 2011, and has strategic partnerships with the leading entrepreneurs in the mining sector. Additional information on the Augusta Group can be found at www.augustacorp.com

Proceeds of the private placement will be used for funding exploration of the Buck property and working capital.

All the securities issued pursuant to this private placement will be subject to a four month restricted resale period. Completion of the placement is subject to the approval of the TSX Venture Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirement is available.

About San Marco

San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc and copper projects with a focus in mining friendly jurisdictions in both British Columbia, Canada and Mexico.

The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region that includes many former and current operating mines. In addition, the Company’s portfolio includes the several prospective, early stage exploration properties in Mexico.

For further information, contact:

Robert Willis, P. Eng.
Executive Director

Nancy Curry
Corporate Communications

Sharyn Alexander, M.Sc.
VP Technical Services

info@sunsummitminerals.com

Forward Looking Information

Information set forth in this document may include forward-looking statements. While these statements reflect management’s current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco Resources Inc. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco’s actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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San Marco Intercepts Shallow Gold at Buck Property; 91 metres of 0.80 g/t AuEq within 156 metres of 0.63 g/t AuEq and 81 metres of 0.78 g/t AuEq within 200.7 metres of 0.51 g/t AuEq

By | 2020

Vancouver, B.C. – May 12, 2020: San Marco Resources Inc. (TSX-V: SMN) (“San Marco”) is pleased to announce it has intersected wide zones of continuous gold mineralization from its recently completed Phase 1 drill program at its 100% optioned gold/silver/zinc Buck property in north-central B.C.

Highlights of the Phase 1 drill program include:

  • 91 metres of 0.80 g/t AuEq (gold equivalent, gold and silver only) within 156 metres of 0.63 g/t AuEq, including 33 metres of 1.01 g/t AuEq.
  • 81 metres of 0.78 g/t AuEq within 200.7 metres of 0.51 g/t AuEq, including 44 metres of 1.01 g/t AuEq.
  • 15 metres of 6.3 g/t Au and 10.0 g/t Ag, including 0.3 metres of 20.7 g/t Au and 48.9 g/t Ag (within 4 metres of the bottom of BK20-002).
  • Mineralization is hosted in highly clay altered, faulted and fractured, brecciated volcanic tuffs, as wide disseminated zones and high-grade veins. (Widths are drill core length)
  • Very consistent gold and silver grades intersected at shallow depths, some of which are projected to surface.

San Marco’s Executive Director, Bob Willis, states “We are very encouraged to see significant intervals of continuous gold mineralization at Buck, which confirms our preliminary findings that this is a large, near-surface gold/silver exploration opportunity. We intend to aggressively ramp up exploration efforts, with our ‘boots on the ground’ exploration team arriving on site in about three weeks. Our drill program gave us the first opportunity to see fresh core we could log and tie to gold mineralization, and to help target the best host rocks, alteration, and structural setting for gold deposition. We will use this new information to target drilling for Phase 2 and to prioritize numerous attractive, but previously poorly understood, target areas at Buck.”

The 1,806 metre drill program was centered in an area of historically explored mineralization and consisted of a total of five holes, where three holes were drilled in an area of known mineralization near surface. An additional two short holes were collared 350 metres to the northwest in an attempt to locate a previously postulated mineralized fault zone. Drill hole locations for the Phase 1 drill program can be seen in Figure 1 and were previously announced on April 8, 2020.

The primary objective of the Phase 1 campaign was to get fresh drill core to identify styles of mineralization and detailed analysis of subtle mineralizing controls that could then be applied project-wide. This has been successful, and these observations will be a key component in the design of the Phase 2 drill program.

Significant shallow drill intersections of gold and silver has shown the robust nature of mineralization, with most of the gold mineralization hosted as disseminations in the host rock, and as high-grade veins, commonly associated with sphalerite and pyrite (see Photo 1). Most of the mineralized system has been classified as felsic lapilli tuffs (volcanic rocks), with various degrees of brecciation. Rocks that are highly faulted and clay-altered have the most elevated gold values. Schematic cross sections can be seen in Figure 2 and Figure 3.

Near-Term Focus

San Marco’s plans for the next phase of exploration include:

  • Continue to compile and analyse drill results and review drill core with assays in hand
  • Mobilize a field crew to the property in about three weeks
  • Commence exploration activities to include detailed mapping and sampling, and prospecting new areas radiating out from current drill location
  • Re-interpret historical geophysical data to be used to assist in new drill target generation
  • Complete initial 3-D geological model after all drill core interpretation and field work is complete
  • Generate Phase 2 drill program

Significant intercepts for the Phase 1 drill program at Buck can be found below.

  • * Widths are drill core length. Insufficient drilling has been undertaken to determine true widths at this time.
  • Average grades are weighted by width and calculated with uncapped gold assays.
  • Average widths are calculated using a 0.2 g/t gold equivalent cut-off grade with less than five continuous metres of internal dilution below cut-off grade.
  • ** Gold equivalent (AuEq) values were calculated using a gold price of US$ 1,600 per ounce and a silver price of US$ 15 per ounce. Gold equivalent values were calculated using the following formula: AuEq = (Au g/t) + (Ag g/t) x (15/1600).
  • Gold equivalent assumes 100% recoveries.

Quality Assurance

All sample assay results have been monitored through a quality assurance / quality control (QA/QC) program. Industry best practices were used for defining a QA/QC program where 5% of the sampling stream was controlled by industry recognized certified reference material (CRM’s) and blanks. When necessary, additional QA/QC in the form of 5% of pulp and coarse reject duplicates were selected for laboratory verification. The drill core was logged in detail by geologists utilizing a logging approach designed by senior technical managers. Logging and sampling was completed at a secure facility in Smithers, B.C. by Coast Mountain Geological Ltd. (CMG). Drill core was sawn in half on site and half drill-core samples were securely transported to the ALS Global prep facility in Terrace, B.C. The samples were dried, crushed to 70% (< 2 mm), split to 250g, and pulverised to 85% (<75 µm). Sample pulps were sent to the ALS Global lab in North Vancouver, B.C., for analysis. Gold analysis was by 30g Fire Assay with AA finish  and automatically re-analysed with Gravimetric finish if Au >5 g/t. Some samples underwent ore grade analysis using the Four Acid method. In addition, pulps underwent Multi-Element Analysis by ICP-AES. ALS Global is registered to ISO/IEC 17025:2017 accreditations for laboratory procedures.

Links to Figures

Figure 1:
https://sunsummitminerals.com/wp-content/uploads/2020/05/Buck_Drilling_Imagery_May2020_NR_sxns.jpg

Figure 2:
https://sunsummitminerals.com/wp-content/uploads/2020/05/Simplified_CrossSection_May2020_SectionA-scaled.jpg

Figure 3:
https://sunsummitminerals.com/wp-content/uploads/2020/05/Simplified_CrossSection_May2020_SectionB-scaled.jpg

Photo 1:
https://sunsummitminerals.com/wp-content/uploads/2020/05/Buck_CorePhotos.pdf

About San Marco

San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc and copper projects with a focus in mining friendly jurisdictions in both British Columbia, Canada and Mexico.

The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region that includes many former and current operating mines. In addition, the Company’s portfolio includes the several prospective, early stage exploration properties in Mexico.

San Marco is committed to environmental and social responsibility with a focus on responsible development to generate positive outcomes for all stakeholders.

Further details are available on the Company’s website at sunsummitminerals.com

On behalf of the Board of Directors:

Robert Willis, P.Eng.
Executive Director

For further information, contact:

Nancy Curry
Corporate Communications

Sharyn Alexander, M.Sc.
VP Technical Services

info@sunsummitminerals.com

National Instrument 43-101 Disclosure
This news release has been approved by San Marco’s Executive Director, Robert D. Willis, P. Eng. a “Qualified Person” as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has verified the data disclosed, including sampling, analytical and test data, underlying such technical information.

Forward Looking Information
Information set forth in this document may include forward-looking statements. While these statements reflect management’s current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco Resources Inc. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco’s actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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San Marco Completes Phase 1 Drilling at Buck Property, Central BC

By | 2020

Vancouver, B.C. – April 8, 2020: San Marco Resources Inc. (TSX-V: SMN) (“San Marco”) is pleased to announce that the previously announced Phase I diamond drilling program (March 17, 2020) has been completed at its 100% optioned gold/silver/zinc Buck property in north-central B.C.

The 1,806 metre drill program was centered in an area of historic mineralization and consisted of a total of five holes, with three collared in the Horseshoe Zone and two approximately 300 metres to the northwest in the Adit Zone (see Figure 1).

Highlights of the Phase I drill program include:

  • All five holes intersected mineralization from surface.
  • Three of the five holes intersected mineralization to depths in excess of 400 metres, which is approximately 150 metres below historic drilling depths.
  • Mineralization is hosted in highly altered and fractured volcanic breccias as disseminations, veins/veinlets, and mineralized fractures.
  • Initial logging suggests a large, highly altered gold/silver/zinc volcanic breccia system, open in all directions.

Drill hole locations are set out below in Table 1.

Table 1. Phase I Drill Hole Locations at the Buck Property

San Marco’s Executive Director, Bob Willis, commented “We are very excited to have completed our initial drill program at Buck. We look forward to analyzing the results and receiving assays, which will help guide planning of Phase II exploration. I thank the entire team for diligently completing this drill program ahead of schedule and on budget. During this time of COVID-19 awareness, I especially thank the front-line team of Coast Mountain Geological and JT Thomas Drilling, who operated under strict COVID-19 protocols and completed the program in a safe and healthy manner.”The drill core samples are being processed by ALS Chemex in North Vancouver and results will be announced when available.

Industry best practices were used for defining a QA/QC program where 5% of the sampling stream was controlled by industry recognized certified reference material (CRM’s) and blanks. When necessary, an additional 5% of QA/QC in the form of pulp and coarse reject duplicates were selected for laboratory verification. The drill core was mapped and logged in detail by geologists utilizing a logging approach designed by senior technical managers.

About San Marco

San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc and copper projects with a focus in mining friendly jurisdictions in both British Columbia, Canada and Mexico.

The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region that includes many former and current operating mines. In addition, the Company’s portfolio includes the several prospective, early stage exploration properties in Mexico.

San Marco is committed to environmental and social responsibility with a focus on responsible development to generate positive outcomes for all stakeholders.

For further information, contact:

Sharyn Alexander, M.Sc.
VP Technical Services

Nancy Curry
Corporate Communications

info@sunsummitminerals.com
sunsummitminerals.com

National Instrument 43-101 Disclosure

This news release has been approved by San Marco’s Executive Director, Robert D. Willis, P. Eng. a “Qualified Person” as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has verified the data disclosed, including sampling, analytical and test data, underlying such technical information by reviewing the data and reports from previous exploration of the property which he believes to be accurate and were provided to San Marco by the optionors.

Forward Looking Information

Information set forth in this document may include forward-looking statements. While these statements reflect management’s current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco Resources Inc. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco’s actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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San Marco Begins Drilling At Buck Property, Central B.C.

By | 2020

Vancouver, B.C. – March 17, 2020: San Marco Resources Inc. (TSX-V: SMN) (“San Marco” or the “Company”) is pleased to announce that it has commenced drilling at its 100% optioned gold/silver/zinc Buck property in north central B.C.

Highlights of the fully-funded Phase I drill program include:

  • Up to 2,000 metres of HQ diamond drilling
  • Investigate potential depth extensions of known mineralized zones
  • Step-out drilling in areas of potential new discoveries
  • Confirm bulk tonnage potential as well as zones of high grade mineralization

Since very little drill core from historical drilling is available for review, this initial drill program will  provide fresh drill core for detailed logging and support of what appears to be a large, highly altered gold/silver/zinc breccia system.

San Marco’s Vice President of Technical Services, Sharyn Alexander, commented “We are very excited to begin drilling at our Buck property. We have a strong technical team with years of combined experience, and we are eager to test some very interesting targets outlined during our data compilation and review. Data to date indicates the Buck property hosts large areas of surface and near surface mineralization and it is anticipated that the current drilling will confirm this and give indications of depth potential.”

The Buck property is thought to be structurally complex, such that the Company has retained Chris Gallagher of Rogue Geoscience, who specializes in 3D geologic and structural modeling, oriented core procedures and integration of field portable analyzers. The drill program is being conducted under the supervision of Coast Mountain Geological Ltd, mineral exploration consultants, of Vancouver B.C. Local operator J.T. Thomas of Smithers, B.C., is carrying out the drilling.

About San Marco

San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc and copper projects with a focus in mining friendly jurisdictions in both British Columbia, Canada and Mexico.

The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region that includes many former and current operating mines. In addition, the Company’s portfolio includes the several prospective, early stage exploration properties in Mexico.

San Marco is committed to environmental and social responsibility with a focus on responsible development to generate positive outcomes for all stakeholders.

For further information, contact:

Robert Willis, P. Eng.
Executive Director

Sharyn Alexander, M.Sc.
VP Technical Services

info@sunsummitminerals.com

National Instrument 43-101 Disclosure

This news release has been approved by San Marco’s Executive Director, Robert D. Willis, P. Eng. a “Qualified Person” as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has verified the data disclosed, including sampling, analytical and test data, underlying such technical information by reviewing the data and reports from previous exploration of the property which he believes to be accurate and were provided to San Marco by the optionors.

Forward Looking Information

Information set forth in this document may include forward-looking statements. While these statements reflect management’s current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco Resources Inc. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco’s actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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San Marco Initiates Site Preparation For Buck Drilling and Confirms Receipt Of 5 Year Exploration Permit

By | 2020

Vancouver, B.C. – March 5, 2020: San Marco Resources Inc. (TSX-V: SMN) confirms receipt of a 5-year, area-based exploration permit for its 100% optioned Buck gold/silver/zinc project. The permit allows for substantial drilling on the property, which will help test the known mineralized footprint, as well as outline additional targets for potential new discoveries.

The fully funded Phase I drilling program will consist of approximately 2,000 metres of HQ drill core, most of which is in areas where known gold/silver/zinc mineralization is open in all directions. For more information, see our Corporate Presentation. Access to Phase I drill sites consists of clearing out previously constructed trails from historical exploration works. This work is expected to take a few days.

The company’s geoscience team has spent many months re-evaluating the 50-plus years of previous exploration data. As a result of this work, the Buck property is believed to host large, altered breccia system, with gold and silver mineralization widespread throughout and open in all directions. Historical drill data indicates mineralization is contained in high-grade sub-sections that are either at surface or near surface, supporting a potential bulk tonnage deposit model. The team intends to continue to analyze historic data, including surface samples, trenching, and geophysical data, to better outline and expand the mineralized footprint and generate additional regional targets.

About San Marco

San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc and copper projects with a focus in mining friendly jurisdictions in both British Columbia, Canada and Mexico.

The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region that includes many former and current operating mines. In addition, the Company’s portfolio includes the several prospective, early stage exploration properties in Mexico.

San Marco is committed to environmental and social responsibility with a focus on responsible development to generate positive outcomes for all stakeholders.

For further information, contact:

Robert Willis, P. Eng.
Executive Director

Sharyn Alexander, M.Sc.
VP Technical Services

info@sunsummitminerals.com

Forward Looking Information

Information set forth in this document may include forward-looking statements. While these statements reflect management’s current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco Resources Inc. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco’s actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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San Marco Closes Over-Subscribed $785,000 Private Placement

By | 2020

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES OF AMERICA

Vancouver, B.C. – February 20, 2020: San Marco Resources Inc. (TSX-V: SMN) announces that it has closed its over-subscribed non-brokered private placement by raising C$ 784,849.91 from the issuance of 5,813,703 units at a price of $0.135 per unit. Each unit consisted of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share for $0.20 until February 19, 2023. If, after June 19, 2020, the closing price of San Marco’s shares is at least $0.40 per share for 10 trading days, San Marco may accelerate the expiry of the warrants to 30 calendar days after the expiry of that 10 trading day period.

The Company paid finders fees of 7% and issued finder warrants (each exercisable to purchase one share for $0.135 until February 19, 2021) of 7% to Haywood Securities Inc. ($32,848.20 and 243,320 finder warrants), Canaccord Genuity Corp. ($1,417.50 and 10,500 finder warrants) and T-Bone Ventures Inc. ($2,835 and 21,000 finder warrants).

The shares issued and issuable under the private placement are subject to a four month hold period expiring on June 20, 2020.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirement is available.

About San Marco

San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc and copper projects with a focus in mining friendly jurisdictions in both British Columbia, Canada and Mexico.

The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region that includes many former and current operating mines. In addition, the Company’s portfolio includes the several prospective, early stage exploration properties in Mexico.

For further information, contact:

Robert Willis, P. Eng.
Executive Director

Sharyn Alexander, M.Sc.
VP Technical Services

info@sunsummitminerals.com

Forward Looking Information

Information set forth in this document may include forward-looking statements. While these statements reflect management’s current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco Resources Inc. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco’s actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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San Marco Receives Further Subscriptions for $68,050 in Over-Subscribed Private Placement & Grants Stock Options

By | 2020

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES OF AMERICA

Vancouver, B.C. – February 7, 2020: San Marco Resources Inc. (TSX-V: SMN) announces subscriptions for a further $68,050 in its over-subscribed non-brokered private placement to raise C$ 500,000. It has now received subscriptions totalling C$ 784,849.91 and that it has closed the subscription book.

The private placement now consists of 5,813,703 units at a price of $0.135 per unit. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one common share for $0.20 for three years. If, after four months following closing of the placement, the closing price of San Marco’s shares is at least $0.40 per share for 10 trading days, San Marco may accelerate the expiry of the warrants to 30 calendar days after the expiry of that 10 trading day period.

The Company will pay finders fees in cash of 7% and issue finders warrants (each exercisable to purchase one share for $0.135 for one year) of 7% to eligible finders in accordance with the policies of the TSX Venture Exchange.

Completion of the placement is subject to the approval of the Exchange.

San Marco also announces that it has granted options to purchase 1,200,000 common shares at a price of $0.18 per share for a period of five years.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirement is available.

About San Marco

San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc and copper projects with a focus in mining friendly jurisdictions in both British Columbia, Canada and Mexico.

The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region that includes many former and current operating mines. In addition, the Company’s portfolio includes the several prospective, early stage exploration properties in Mexico.

For further information, contact:

Robert Willis, P. Eng.
Executive Director

Sharyn Alexander, M.Sc.
VP Technical Services

info@sunsummitminerals.com

Forward Looking Information

Information set forth in this document may include forward-looking statements. While these statements reflect management’s current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco Resources Inc. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco’s actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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