News Releases

Playfair Defines Kletten North and South Targets at RKV Project, Norway

January 28, 2021

Playfair Mining Ltd., using modern technology to explore its 100% owned RKV Project in a large historic mining area in south-central Norway, has identified eight Target Areas under consideration for 2021 drilling programs. The first two targets identified, Storboren (November 07, 2020 and December 05, 2020 News Releases) and the second, Sæterfjellet, (News Release January 06, 2021) were reported by Playfair. The recently defined targets at Kletten North and Kletten South are described here.

In the central part of the RKV Project, Playfair has discovered two significant MMI Cu anomalies at Kletten, as shown on the detailed map.

The Kletten North anomaly is open to the northeast, along the general strike of the principal geological units, and contains 4 values of MMI Cu greater than 50 times background in an area 125 metres long by 50 metres wide. The widest part of the anomaly is on the most northeasterly line and the anomaly limit has not yet been defined.

Approximately 300 metres to the south, along the regional strike, lies the Kletten South target, defined by 9 MMI Cu values greater than 50 times background. This sinuous anomaly occurs in an area of about 200 metres by 100 metres.

Kletten North and South correlate regionally with the significant copper occurrences at Børsjøhø located about 12 km to the southwest. As at Sæterfjellet, there is no record of any previous exploration work in the immediate area of the MMI Cu anomalies.

Don Moore, CEO of Playfair, comments “Playfair’s approach of applying modern technology to exploration of a historic mining district continues to discover compelling new drill targets in unexplored areas. We are confident that ongoing work will generate additional targets.”

A detailed drone aeromagnetic survey was completed over the Kletten target area. The Kletten North and South target areas are located peripheral to and separated by a discontinuous series of north-easterly-trending, weak to moderate magnetic highs as illustrated on the detailed map. The MMI Cu target areas at Kletten clearly do not have a high magnetic signature. Of note, the known sulphide mineralization in the historic copper mines of Kvikne and Røstvangen, both located on strike-parallel, high similarity CARDS trends, are associated principally with pyrite which is non-magnetic.

Work to date has allowed Playfair to reduce the exploration area to 201 square kilometers with a primary focus on the eight Target Areas shown on the RKV Project map.

Playfair is continuing to interpret and compile its recent survey results with the goal of developing additional drill targets. A property-wide target assessment of the multi-phase MMI surveys and drone magnetic maps will be provided in due course.

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

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

Donald G. Moore
CEO and Director
Phone: 604-377-9220
Email: dmoore@wascomgt.com
D. Neil Briggs
Phone: 604-562-2578
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.