Vancouver, October 16, 2017 – Leagold Mining Corporation (TSX:LMC; OTCQX:LMCNF) (“Leagold” or the “Company”) reports an update of the Bermejal Underground mineral resource estimate containing Measured and Indicated resources of 9.9 million tonnes at a grade of 6.2 grams per tonne (“gpt”) for 1.97 million ounces, plus Inferred resources of 4.8 million tonnes at a grade of 5.4 gpt for 0.82 million ounces (Table 1). The database used for the updated estimate includes an additional 62 drill holes (16 drilled in 2016 and 46 from the 2017 drill program), as compared to the mineral resource estimates as of December 31, 2016. The majority of the remaining 67 holes planned for the 2017 drill program are infill and will focus on upgrading additional Inferred resources to Indicated classification.
Neil Woodyer, CEO stated: “This updated resource estimate includes a 94% increase in the Measured and Indicated resources and underscores the magnitude of the oxide mineralization of the Bermejal Underground deposit. In addition to converting the previously estimated Inferred resources of 678 koz to mostly Indicated resources, the program has also added 820 koz to the new Inferred resource estimate (Figure 1). The exploration success at Bermejal Underground, which drives this resource update, also supports our development plan to expand Los Filos’ gold production rate. The ramp to access the Bermejal Underground deposit recently commenced and has advanced 27 metres as of October 13, 2017.”