News Releases

Drilling Underway at Playfair’s RKV Project in Norway

June 27, 2022

Playfair has started drilling at the Røstvangen SW MMI target following receipt of an off-road driving permit. This is the first of five targets to be drill-tested this summer. Drill Notifications have been made and approved for 33 initial drillholes and up to 107 additional holes for a total of 140 holes dependent on results.

Don Moore, CEO of Playfair, comments: “The drilling of these targets is the next logical step in exploring this expansive land package. The presence of good geology, past producers, and a recent history of neglect in the mineral exploration sector make this a compelling project. With more than thirty holes planned for this phase of exploration, we are excited.”

Access to this area is by ATV, which is also used to move from hole to hole.

Playfair is using a drilling machine which can be disassembled for moving between drillholes. Although lightweight, the drill is capable of drilling to 150m depth using BQ sized rods (36.5 mm or 1.437 inches core diameter) and to 100m depth using NQ sized rods (47.8mm or 1.872 inches core diameter).

Røstvangen Mine was discovered in 1905 and worked from 1908 to 1921 when it was abruptly closed due to falling copper prices in a worldwide economic crisis. A total of 388,070 tonnes grading 2.65% copper is reported to have been mined *. NGU Ore Database details can be found here

Playfair has discovered two significant targets only 800 metres east of the former Røstvangen Mine and at the same stratigraphic level. There is no record of drilling in the area of these targets.

The man-portable drill team is supervised by Canadian drillers, No Limit Diamond Drilling. Local “Muskelgutta” (Muscle Guys) will again rise to the challenge of moving the man-portable drill when required. Local community support continues to be greatly appreciated.

Promin AS, a Trondheim-based consultancy with extensive experience in the Norwegian Mining industry, provides logistical support and experienced geologists. Helge Rushfeldt again assisted in the start-up of the drill program. Kjell Nilsen, one of Norway’s most experienced field geologists who discovered Nussir, Norway’s largest known copper deposit, and Jonas Dombrowski will directly supervise the drilling, core logging and analysis.

In Norway through Playfair’s wholly owned subsidiary, Playfair Mining Norway AS, operations have been streamlined. In the past 12 months, relationships have been developed with suppliers and labourers within the local community and throughout Norway as a whole. Reidar Gaupås and Norvall Thormodsæter Directors of Playfair Norway, along with CEO Donald Moore, continually reach out to all levels of government in Norway to promote awareness of Playfair’s exploration plans currently and into the future.

Overall management and execution of Playfair’s RKV drilling program is provided by Ronacher McKenzie Geoscience Inc., an independent consulting group, who, as part of their supervision, will ensure that appropriate quality assurance/quality control (QA/QC) protocols are in place. RMG follows the Canadian Institute of Mining, Metallurgy and Petroleum’s (CIM) Best Practices.

* Reported Røstvangen Mine production is historical in nature, pre-dates and is non-compliant with NI 43-101. Playfair has not undertaken any independent investigation of this reported production which should therefore not be relied on. However, Playfair believes that these reported results were produced by competent professionals following the standards of the time and are relevant to ongoing exploration.

The technical contents of this release were approved by Greg Davison, PGeo, a qualified person as defined by National Instrument 43-101.

The road to a cleaner environment includes electric vehicles. Electric vehicles need copper, nickel, and cobalt. There is no green future without minerals.

For further information visit our website at www.playfairmining.com or contact:

Donald G. MooreD. Neil Briggs
CEO and DirectorDirector
Phone: 604-377-9220Phone: 604-562-2578
Email: dmoore@wascomgt.com Email: nbriggs@wascomgt.com

Forward-Looking Statements: This Playfair Mining Ltd News Release may contain certain “forward-looking” statements and information relating to Playfair which are based on the beliefs of Playfair management, as well as assumptions made by and information currently available to Playfair management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein.

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.