TSX.V: ORS orestone.ca

May 2023

A RESULTS FOCUSED GOLD & COPPER COMPANY

Captain Project - British Columbia

  • 100% owned and 105 square kilometres in size.
  • The T1 target is one of three distinct MagnetoTellurics (MobileMT) low resistivity-high conductivity targets outlined over a five kilometre strike length along a prominent north/south trending inferred regional fault.
  • The T1 target area has a large alteration halo of 2000 x 2000 metres.
  • Drilling has intersected a tabular zone of gold-copper mineralization over 200 metres thick fringing the T1 target.
  • The gold-copper drill intercepts vary from longer intersections of lower grade to higher grade over shorter intervals.
  • Several major companies are working in the region surrounding the property.

GALORE

KEMESS SOUTH

Quesnel Trough

CREEK

Fort St. John

Prince

MT MILLIGAN

Rupert

CAPTAIN PROJECT

Prince

B R I T I S H

George

MT POLLEY

C O LU M B I A

AFTON

Centerra Gold Claims

Vancouver

COPPER MTN

200 km

Victoria

IMGold Claims

CAPTAIN PROJECT

IMGold Claims

New Gold Claims

2 km

Roads

Mobile MT Survey Outline

The 100 percent owned Captain gold-copper Project encompasses 105 square kilometres and hosts a large gold dominate porphyry system located 41 kilometres north of Fort St. James and 30 kilometres south of the Mt. Milligan copper-gold mine in north central British Columbia. The project features relatively flat terrain, moderate tree cover, and an extensive network of logging and Forest Service roads suitable for year round exploration.

FIVE KM LOW RESISTIVITY TREND

During 2022 the Company completed an airborne MobileMT survey at the Captain Property which confirms and better defines the large gold dominant porphyry T1 target. The T1 target is one of three distinct MobileMT low resistivity - high conductivity targets outlined over a five kilometre strike length along a prominent north/south trending inferred regional fault. This trend remains open in both directions on Orestone claims. The T1 low resistivity target is co-incident with strong induced polarization (IP) chargeability highs and magnetic lows. The other two low resistivity targets along the trend are co-incident with magnetic lows however no IP has been conducted in these areas.

January 2023

BOARD AND MANAGEMENT

DAVID HOTTMAN

MARK T. BROWN, CA

JAMES ANDERSON, BFA

JULIA ASPILLAGA

Chairman & CEO

CFO

Independent Director

Advisor

BRUCE WINFIELD, M.Sc. P.Geo

GARY NORDIN, B.Sc (Geol. Hons)

JOHN KANDERKA, B.Sc

MARC BLYTHE, P.Eng

President, Director

Independent Director,

Independent Director

Advisor

Senior Consulting Geologist

PATRICK DANIELS, B.Sc, Mining Engineering

ROB PEASE, P.Geo

Independent Director

Advisor

GOLD DOMINANT PORPHYRY TARGET

The central portion of the low resistivity-high conductivity zone known as the T1 target is untested by drilling to date and lies in the centre of a large scale alteration halo measuring 2000 by 2000 metres.

The alteration and gold-copper mineralization defined to date at T1 is interpreted to be related to a sulphide rich intrusive body at depth which was responsible for the sericite-potassium feldspar (kspar) alteration and the extensive fine-grained sulphides with gold-copper mineralization intersected in previous wide spaced drill holes. Seven fringing drill holes have outlined the zone by defining a 200-500 metre thick tabular zone of phyllic alteration hosting zones of sericite-kspar alteration containing gold-copper mineralization from 20-160 metres thick grading 0.20 to 0.84 g/t gold and 0.05-0.11 percent (500-1100 ppm) copper. This mineralization is interpreted to have been emplaced by upward moving hydrothermal and epithermal solutions driven by a large porphyry system directly below.

On section line L1220 four porphyry dykes are mapped from 4 to 82 metres thick grading from 0.28 to 0.84 g/t gold and 540-1700 ppm copper. These dykes dip at 45 degrees and lie in close proximity to the outlined MT conductor/porphyry anomaly.

The presence of these mineralized dykes both in the hanging wall and dipping into the MT conductor implies that they are related and it is thought highly probable that the planned drill holes will intersect a gold-copper porphyry intrusive system with values similar to the adjacent dykes.

The porphyry is intact and has not been unroofed or exposed at surface and eroded. It lies beneath a 30 to 100m thick layer of glacial till, and 100-150m thick phyllic altered cap.

Captain is an early discovery stage project with similarities to other calc-alkaline porphyries in the BC Cordillera area such as Red Chris where the bulk of the deposit was hidden until deep drilling outlined its potential. All of the mineralized intercepts to date indicate a "gold enriched" porphyry system. The primary target is large and the Company is currently planning the next phase of drilling.

The Company has an approved Notice of Work from the BC Ministry of Mines and Petroleum Resources which will cover the next several drill programs.

Mr. Gary Nordin P.Geo, has reviewed the technical information on the Captain Project and has visited the site.

SHARE STRUCTURE

Common Shares Outstanding

56,660,232

Stock Options

4,520,000

Warrants

0

Fully Diluted Common Shares Outstanding

61,180,232

March 2023

Geology and MT Anomaly Section L1220

April 2023

Resistivity X Section L1240

April 2023

For more information contact

CORPORATE OFFICE

Investor Relations at

Orestone Mining Corp.

info@orestone.ca

407 - 325 Howe Street

604.629.1929

Vancouver BC V6C 1Z7

orestone.ca

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Disclaimer

Orestone Mining Corp. published this content on 09 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 May 2023 07:39:05 UTC.