Greenheart Gold Significantly Expands Land Position at Its Majorodam Project in Suriname and Commences Drilling

• Exploration rights at Majorodam increased by 150% to approximately 251.5 square kilometres
• Additional land positions are contiguous with and expand coverage North and South of the original Majorodam project area
• Drilling at Majorodam has commenced with an initial 1,500 m RC program comprising fences of 100 m deep holes
  

/EIN News/ -- LONGUEUIL, Québec, Feb. 13, 2025 (GLOBE NEWSWIRE) -- Greenheart Gold Inc. (TSXV: GHRT) (the “Company” or “Greenheart Gold”) is pleased to announce a significant increase in the size of its exploration rights at the Majorodam project in Suriname. The increase comes as the result of two additional agreements, which were completed with two separate title holders. The original Majorodam project, which comprised an area of 99.85 square kilometers (“sq. km.”) has increased by 60.78 sq. km. to the north and 90.86 sq. km. to the south and now comprises a total area of 251.5 sq. km. The Company is also pleased to announce the arrival of a reverse circulation (“RC”) drill rig at the project on February 12^th, 2025, and that RC drilling has commenced on the Heuvel target.

Majorodam North

Greenheart Gold has entered into an option agreement with an arm’s length private Surinamese company, pursuant to which the Company is entitled to acquire a 100% interest in mineral rights covering an area of just over 6,000 hectares located contiguous with and north of the Company’s Majorodam project. The new area is being referred to as Majorodam North. The option agreement is valid for a period of 11.5 years and can be terminated by the Company at any time without further obligations with 30-day prior notice. Greenheart Gold will be entitled to exercise the option if it completes the following: 1) incurs minimum project expenditures over the 11.5-year option period of at least US$7,500,000, including US$500,000 during the first 18 months, 2) makes annual option payments of between US$200,000 and US$300,000, and 3) completes a feasibility study. Upon exercise of the option, the Company will grant a 2% NSR royalty to the optionor and will have a right to buy-back half the royalty at a price to be determined based on the reserves reported in the feasibility study.

Majorodam South

Greenheart Gold has also amended its option agreement with the Majorodam title holder to add an additional 9,086 hectares of mineral rights in exchange for an additional one-time payment of US$65,000. These additional mineral rights, which are located contiguous with and to the south of the original Majorodam project area, will be referred to as Majorodam South.

Majorodam North and South Geology and Exploration

Greenheart Gold pursued these agreements to add additional exploration acreage to Majorodam following the very encouraging results it received from the Phase 1 and Phase 2 soil geochemical surveys. Both the Majorodam North (“MN”) and Majorodam South (“MS”) project areas are interpreted to be underlain by the same volcanic units that host the producing Saramacca mine, located about 12 km to the north of the current soil geochemical survey. Except for an airborne magnetics survey flown over MS, neither MN nor MS has seen any modern exploration aimed at identifying the potential hard rock sources of the alluvial gold deposits that were historically mined in the area.

The significant gold in soil anomalies associated with the Heuvel and Helling targets at Majorodam are striking north and north-east towards MN and appear to extend to at least the border between the two projects. There are also two areas of significant alluvial workings lying both to the East and West of the MN project. The alluvial mining in these areas appears to be focused on the drainages that lie downstream of the volcanic ridge that crosses the MN project and extends southward to the Heuvel and Helling target areas at Majorodam.

The next exploration steps for MN and MS will include prospecting, geological mapping and Phase 1 geochemical surveys. At Majorodam, the Company has mobilized an RC rig to the project and has now commenced an initial 1,500 m drill program comprised of 100 m deep holes to test the Heuvel target.

About Greenheart Gold Inc.

Greenheart Gold is an exploration company that builds on a proven legacy of discoveries within the Guiana Shield, a highly prospective geological terrain that hosts numerous gold deposits yet remains relatively under-explored. The Company is led by former executives and members of the exploration group of Reunion Gold, a team that was most recently noted for the discovery and delineation of the multimillion-ounce Oko West deposit in Guyana. Greenheart Gold intends to build on its technical knowledge, strong contact base and previous success from exploring in the Guiana Shield to assemble, maintain and explore a portfolio of early-stage exploration projects in Guyana and Suriname that are prospective for orogenic gold deposits.

Greenheart Gold trades on the TSX Venture Exchange under the symbol ‘GHRT’. Additional information about the Company is available on SEDAR+ (www.sedarplus.ca) and the Company's website (www.greenheartgold.com). 

For further information, please contact:

GREENHEART GOLD INC.

Justin van der Toorn, President and CEO, or
Doug Flegg CFA, Senior Vice President Corporate Development
E: d.flegg@greenheartgold.com   
E: info@greenheartgold.com   
Telephone: +1 450-800-2882

Technical Information

All scientific and technical information in this press release has been reviewed and approved by Justin van der Toorn, CGeol FGS, EurGeol, President and CEO of Greenheart Gold, and a Qualified Person under Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

Cautionary Statement on Forward-Looking Information

All statements, other than statements of historical fact, contained in this press release constitute “forward-looking information” and “forward-looking statements” within the meaning of certain securities laws and are based on expectations and projections as of the date of this press release. Forward-looking statements contained in this press release include, without limitation, those related to the Company’s plans and objectives, timing of and execution of planned exploration activities, geological interpretation, potential favorable setting and mineralization, potential acquisition of other projects, other statements relating to the and business prospects of Greenheart and more generally, the section entitled “About Greenheart Gold Inc”.

Forward-looking statements are based on beliefs, expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Such assumptions include, without limitation, those underlying the statements in the section entitled “About Greenheart Gold Inc”.

Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific in nature, including among others, those risks and uncertainties set forth in the Listing Application (Form 2B) dated August 30, 2024, the interim consolidated financial statements and related notes for the three months ended September 30, 2024 and the initial period from April 19, 2024 to September 30, 2024, the management’s discussion & analysis for the three months ended September 30, 2024 and other documents and reports filed by the Company with Canadian securities regulators available under the Company’s profile on SEDAR+ at www.sedarplus.ca, and the risk that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future outcomes. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. The Company cautions that the list of factors set forth in the Company’s filings that may affect future results is not exhaustive, and new, unforeseeable risks may arise from time to time. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.

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 press release.