Rockhaven begins 10,000m drill program at its flagship Klaza Gold-Silver project in the Yukon


VANCOUVERRockhaven Resources Ltd. (TSX-V:RK) (“Rockhaven”) is pleased to announce that the teams have mobilized and that the 2022 exploration program has started on its 100% owned and road accessible Klaza project, located in the southern Dawson Range gold belt Yukon, Canada.

The fully funded program will use two diamond drill rigs to complete approximately 10,000m of drilling. This drilling program will advance the Klaza project towards pre-feasibility by achieving key objectives which include: infill resource definition drilling (9,000 m in 44 holes) to convert a greater portion of the inferred mineral resources to indicated mineral resources; Discovery-focused exploration drilling (1,000m in 5 holes) on high-grade gold-silver epithermal targets including the Rusk and Western BRX Extension targets; Additional target evaluations, without drilling, at the Rusk East, Dade, Bear and Sked prospects; and, Continuation of studies related to metallurgy, engineering and basic permits.

“Following a successful infill drilling program in 2021, work in 2022 is designed to establish Indicated Resources in priority areas of the 2020 PEA and will lead to an updated mineral resource estimate and pre-feasibility study in mid -2023,” said Matt Turner, CEO of Rockhaven. “In addition, exploration drilling, trenching and prospecting will advance targets that lie outside the resource areas to further demonstrate the camp-scale character of the Klaza Project.”

Infill drilling of the Klaza deposit

Infill drilling of the Klaza deposit will focus on upgrading inferred resources to indicated resources. Based on the most recent mineral resource estimate released in 2018, 60% of Klaza’s total mineral resources are classified as indicated and 40% as inferred. A total of 6,000m of infill drilling in 31 holes has been completed in 2021 with a further 9,000m in 44 holes planned for work in 2022. This drilling, combined with additional geotechnical, metallurgical and environmental monitoring, will continue to support the pre-feasibility study which should be completed in 2023.

Exploration drilling

Exploration drilling is planned on the Rusk and Western BRX Extension targets. Mineralization at the Rusk target was discovered by a drillhole closeout in 2020, which spanned a new vein complex located approximately 3 km south of the Klaza deposit. The discovery holes were followed by ten drill holes in 2021, tracing mineralization at the core of the target over a strike length of 300m. Work in 2022 on this target will further assess the strike potential of major structures.

Drilling at the Western BRX extension will target the eastern projection of a silver-rich vein discovered in KL-21-492 that returned 1,160 g/t silver, 8.4% lead and 5.2% zinc on 0.54 m (see the press release of the December 15, 2021). Following this discovery, an excavating trench successfully exposed the up-dip projection of this vein, returning 351 g/t silver, 9.87% lead and 1.97% zinc over 1.5 m. Two holes are planned on this target in 2022.

An exploration hole may also test an undrilled portion of the Kelly porphyry target, which lies southeast of the vein system hosting the Klaza deposit. Following a comprehensive analysis of the results of previous work done in this area, a single hole was recommended based on vectors including vein styles, lithogeochemical characteristics and geophysical signatures.

Regional target assessments

In addition to the drill program, work in 2022 will evaluate four other promising prospects on the Klaza property, which include the Rusk East, Dade, Bear and Sked targets. Depending on the results, these prospects could be drill tested later in the season.

Qualified persons

The technical information contained in this press release has been approved by Matthew R. Dumala, eng.., geological engineer with Archer, Cathro & Associates (1981) Limited Qualified Person for the Purposes of National Instrument 43-101.

About Rock Haven

Rockhaven Resources Ltd. is a well-funded explorer focused on exploring and developing its 100% owned, camp-scale Klaza property, which hosts the Klaza deposit and numerous lightly explored exploration targets. The Klaza deposit reported mineral resources of 4.5 Mt containing 686,000 oz of gold and 14 million ounces of silver at grades of 4.8 g/t gold and 98 g/t gold. silver, and inferred mineral resources of 5.7 Mt containing 507,000 oz of gold and 13.9 million ounces of silver grading 2.8 g/t gold and 76 g/t silver . An updated preliminary economic assessment of the Klaza field completed in 2020 gave an after-tax (5%) NPV of 378 million Canadian dollars and an IRR of 37%, using $1,450/oz of gold and $17/oz of silver (see the technical report of the Klaza property with an effective date of July 10, 2020 and entitled “Technical Report and Updated Preliminary Economic Assessment for the Klaza Property”, Yukon, Canada.’ which can be viewed on www.sedar.com under the Rockhaven profile or on Rockhaven’s website at www.rockhavenresources.com.).

Contact:

Matthew Turner

President

CEO and Director

Rockhaven Resources Ltd.

Such. : 604-687-2522

Email: [email protected]

Neither the 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.

The information in this press release contains forward-looking statements. These statements reflect management’s current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “complete(d)”, “progress”, “toward”, “completion”, “convert”, “assessments ‘, ‘successful’, ‘establish’, ‘prioritize’, ‘demonstrate’, ‘upgrade’, ‘planned’, ‘support’, ‘potential’, ‘projection’, ‘promising’ and similar expressions, or that events or conditions ‘may’, ‘should’ or ‘probably’ occur. Rockhaven cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of important factors, many of which are beyond Rockhaven’s control. These factors include, among others: risks and uncertainties relating to exploration and development and its results, including the results of the recently completed drilling program, the impact on mineral resource estimates, the potential for new discoveries , including porphyry deposits, and the results of planned metallurgical programs, as well as Rockhaven’s ability to obtain additional financing, the need to comply with environmental and governmental regulations, fluctuations in commodity prices, uncertainties and operational, competitive and other risks and uncertainties, including those described in Rockhaven’s financial statements are available under the Rockhaven profile at www.sedar.com. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied by the forward-looking information. Except as required by applicable securities laws, Rockhaven undertakes no obligation to publicly update or revise any forward-looking information.

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