MONETA PORCUPINE MINES INC. : http://www.monetaporcupine.com/ : QwikReport

News Releases

#December 05, 2018
Moneta Identifies Multiple New Mineralized Zones On The Golden Highway Project

 Toronto, Ontario -- December 05, 2018 - Moneta Porcupine Mines Inc. (TSX:ME) (OTC:MPUCF) (XETRA:MOP) ("Moneta" or the "Company") is pleased to announce that it has identified multiple new high grade zones of gold mineralization on the Golden Highway Project, located 110 km east of Timmins, Ontario (see Figure 1). The new targets were identified during the 2018 geological re-interpretation and modelling of high-grade structures. The new zones occur outside the area of historical resources and the pending NI 43-101 resource estimate update due to be completed in early 2019.

Highlights:

Moneta has identified five (5) new structurally controlled zones of high-grade mineralization along the Banded Iron Formation contact (BIF), located outside of the pending resource update area


  • Halfway

Drill hole MWJ11-43 intersected 3.25 metres (m) @ 8.87 (grams per tonne) g/t Gold (Au), including 2.30 m @ 11.74 g/t Au;

  • Westaway

Drill hole MN-96-178 intersected 6.30 m @ 5.80 g/t Au, including 1.50 m @ 10.42 g/t Au;

  • Western

Drill hole MA03-14 intersected 5.50 m @ 4.26 g/t Au, including 2.00 m @ 9.90 g/t Au;

 

  • Windjammer South Deeps

Drill hole WJ88-40 intersected 2.00 m @ 3.29 g/t Au, including 1.00 m @ 5.80 g/t Au at depth below the pending resource;

  • Dyment 3

Drill hole MA06-33 intersected 1.50 m @ 3.07 g/t Au, including 0.50 m @ 7.20 g/t Au.



Gary O'Connor, CEO & Chief Geologist commented, "The new geological modeling and interpretation methodology has now been applied to five (5) new zones outside of the pending NI 43-101 resource estimate footprint. The new zones cover an eight (8) km strike length and have the same style of mineralization as seen in the gold zones to be included in the pending resource update. Re-logging and re-interpretation of the geological model at Golden Highway has focused on high grade gold mineralized structures located along a regional 12 km long Banded Iron Formation. These new zones will form part of a larger program to test drill targets expected to be identified in the pending resource estimate due in the New Year."

New Mineralized Targets:

The new Halfway, Windjammer South Deeps, Westaway, Dyment 3 and Western Zone targets are all located along over eight (8) kms of strike length on the southern margins of a 12 km long BIF unit hosted within clastic sediments of Timiskaming age. Mineralization and all targets occur as NW-SE trending steeply west dipping stockwork veining and associated vein structures located along or near the BIF contact. Historical drilling of targets has been limited, however the style and nature of mineralization is like the BIF related deposits currently the subject of a resource estimate update on the Golden Highway Project due to be completed in early 2019. The mineralized veins and stock-work veining within the new structures occur as quartz-pyrite veins within ankerite-sericite-silica-pyrite (+ albite) alteration halos.
  • Halfway: Is located over 500 m east of Windjammer South. Drill hole MWJ11-43 intersected 3.25 m @ 8.87 g/t Au including 2.30 m @ 11.74 g/t Au at 410.75 m down hole depth near the BIF contact. There are no other drill holes close to this intercept.
  • Westaway: Is located on over 1.50 kms of BIF contact between South West and "55". Drill hole MN-96-178 intersected 6.30 m @ 5.80 g/t Au including 1.50 m @ 10.42 g/t Au at a down hole depth of 146.70 m. Drill hole MN-96-178 intersected 2.90 m @ 5.64 g/t Au including 1.10 m @ 11.16 g/t Au at a down hole depth of 268.50 m. Drill hole MN-97-184 intersected 9.00 m @ 3.50 g/t Au including 3.20 m @ 6.14 g/t Au. The intercepts occur up to 200 m south of the BIF contact as sediment hosted quartz-pyrite veining.
  • Western: The Western area is located approximately 2.00 km west of the "55" deposit. Drill hole MA03-14 returned 5.50 m @ 4.26 g/t Au including 2.00 m @ 9.90 g/t Au at a down hole depth of 213.60 m. Hole MA03-15 intersected 1.50 m @ 8.42 g/t Au including 0.60 m @ 15.93 g/t Au at a depth of 147.60 m.
  • Windjammer South Deeps: Hole WJ88-40 was drilled to a depth of over 1,000 m, below the Windjammer South stockwork and vein system currently the subject of the pending resource update. The drill hole intersected a number of vein structures south and distal to the BIF contact intersecting 2.00 m @ 3.29 g/t Au including 1.00 m @ 5.80 g/t Au at 835.00 m and 11.00 m @ 1.24 g/t Au including 1.00 m @ 3.02 g/t Au at a depth of 945.60 m.
  • Dyment 3: The Dyment 3 area is located 1.0 km west of the "55" deposit. Drill hole MA06-33 intersected 1.50 m @ 3.07 g/t Au including 0.50 m @ 7.20 g/t Au at 242.45 m down hole depth.

Please click here for Figure 1: New Target Location Map - Golden Highway Project
http://www.monetaporcupine.com/i/maps/dec52018-fig1.jpg

Please click here for Figure 2: Golden Highway Project Regional Section: New Targets
http://www.monetaporcupine.com/i/maps/dec52018-fig2.jpg

Please click here for Figure 3: Golden Highway Project: New Target Areas (View to NW)
http://www.monetaporcupine.com/i/maps/dec52018-fig3.jpg


Table 1: Select Significant Intercepts: New Targets
Target Hole From To Length Au
Area # (m) (m) (m) g/t
Westaway MN-96-178 146.70 153.00 6.30 5.80
  Includes 151.50 153.00 1.50 10.42
Westaway MN-96-178 268.50 271.40 2.90 5.64
  Includes 268.50 269.60 1.10 11.16
Westaway MN-97-184 323.90 332.90 9.00 3.50
  Includes 323.90 327.10 3.20 6.14
Westaway MN-97-186 176.40 179.70 3.30 6.22
Halfway MWJ11-43 410.75 414.00 3.25 8.87

 

includes 411.70 413.17 2.30 11.74

 

includes 411.70 413.17 1.47 16.86
Dyment MA06-33 242.45 243.95 1.50 3.07
  includes 242.45 242.95 0.50 7.20
Dyment MA07-35X 123.12 123.52 0.40 5.49
Western MA03-13 213.60 218.00 4.40 2.47
  includes 213.00 213.60 0.60 10.63
Western MA03-14 261.20 266.70 5.50 4.26
  includes 263.70 265.70 2.00 9.90
  includes 263.70 264.30 0.60 28.28
Western MA03-15 147.60 149.10 1.50 8.42
  includes 148.00 148.60 0.60 15.93
Western MA03-16 191.00 191.40 0.40 23.52
Western MA04-22 207.00 208.00 1.00 7.34
  includes 207.40 208.00 0.60 10.47
Western MA04-22 239.00 241.00 2.00 6.26
  includes 239.50 240.50 1.00 10.05
WJS Deeps WJ88-40 239.70 243.90 4.20 3.91

 

includes 239.70 240.30 0.60 10.56

 

and 243.30 243.90 0.60 11.11
WJS Deeps WJ88-40 266.90 268.00 1.10 9.70
WJS Deeps WJ88-40 835.00 837.00 2.00 3.29
  includes 836.00 837.00 1.00 5.80
WJS Deeps WJ88-40 945.60 957.50 11.90 1.24*
  includes 951.50 952.50 1.00 3.02

Intercepts are calculated using a 2.0 g/t Au cut-off unless noted (*), a maximum of 2m internal dilution and no top cap applied. All intercepts are reported as drill widths and estimated to be 65% to 100% of true width.

QA/QC Procedures

All core drilling conducted by Moneta is oriented. Half sawn drill core is sent to ALS Canada Inc. for drying and crushing to -2 mm, with a 1.00 kg split pulverized to -75 µm (200#). A 50 g charge is Fire Assayed and analyzed using a AAS finish for Gold. Samples above 10.00 g/t Au are analyzed by Fire Assay with a gravimetric finish and selected samples with visible gold or high-grade mineralization are assayed by Metallic Screen Fire Assay on a 1.00 kg sample. Moneta inserts independent certified reference material and blanks with the samples, and assays routine pulp repeats and coarse reject sample duplicates with the samples, as well as completing third-party check assays at Activation Laboratories Ltd. Gary O'Connor, FAusIMM is a qualified person under NI 43-101 and has reviewed and approved the contents of this press release.

About Moneta

The Company holds a 100% interest in 5 core gold projects strategically located along the Destor-Porcupine Fault Zone in the Timmins Gold Camp with over 85 million ounces of past gold production. The projects consist of the Golden Highway, North Tisdale, Nighthawk Lake, Kayorum and Denton projects. The Golden Highway Project covers 12 kilometres of prospective ultramafic/mafic volcanic/sedimentary rocks along the DPFZ hosting a NI 43-101 indicated resource estimate of 1,091,000 ounces (31.1 Mt at 1.09 g/t Au) and 3,204,000 ounces inferred (83.3 Mt at 1.20 g/t Au), clustered within four kilometres.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Gary V. O'Connor, CEO and Chief Geologist
416-357-3319

Ian C. Peres, President & CFO
416-579-3040

The Company's public documents may be accessed at www.sedar.com. For further information on the Company, please visit our website at www.monetaporcupine.com or email us at .


This news release includes certain forward-looking information and forward-looking statements, collectively "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements include, but are not limited to information with respect to the future performance of the business, its operations and financial performance and condition such as the Company's drilling program and the timing and results thereof; and the ability of the Company to finance and carry out its anticipated goals and objectives.

Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements.
File: http://www.monetaporcupine.com/i/pdf/ME-PR-18-2018-with-maps.pdf
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#November 29, 2018
Moneta Completes Geological Modelling Of Deposits On The Golden Highway Project And Commences Resource Update

 Toronto, Ontario -- November 29, 2018 - Moneta Porcupine Mines Inc. (TSX:ME) (OTC:MPUCF) (XETRA:MOP) ("Moneta" or the "Company") is pleased to announce that it has now completed the new geological interpretation model of high grade structures on the Golden Highway Project, expanding the number and size of mineralized structures identified. The new geological model will form the basis of the new updated resource estimate due to be completed in early 2019 on the Company's Golden Highway Project, located 110 km east of Timmins, Ontario (see Figure 1).

Highlights:
  • Moneta has increased the number of modelled vein structures to fifty-eight (58) on six (6) deposit areas to be used for the resource update
  • The new resource estimate update on the Golden Highway Project has commenced and is due to be completed in early 2019
  • Four (4) of the deposit areas containing 44 mineralized structures are associated with the regional Banded Iron Formation and hosted in Timiskaming sediments
  • Two (2) of the deposit areas containing 14 structures are hosted in mafic/ultramafic units located along the Destor Porcupine Fault Zone
  • Sampling of previously unsampled historical core has been completed
Gary O'Connor, CEO & Chief Geologist commented, "The Moneta geological team has completed a thorough and detailed re-interpretation of the high-grade controlling structures on six (6) deposit areas within the Golden Highway Project. Detailed alteration and mineralization logging, as well as structural interpretation has confirmed the continuity of the structures which form the basis of the wireframes currently being used in the pending resource estimate update. A total of 58 mineralized structures have now been modelled, significantly expanding the scope of the resource which is due to be completed in early 2019. Interpretation have also identified additional mineralized zones on the project outside the current resource update highlighting additional exploration upside"

The new resource estimate will be based on 1,108 holes for 352,055.50 m of drilling including 74 new drill holes for 42,880.50 m completed between September 2017 and August 2018. The updated resource will also include the results of 25 drill holes for 11,781.22m drilled in early 2017, 11 drill holes completed in 2016 for 6,052.0 m and 112 drill holes completed during 2013-2014 for 49,719.0 m not previously included in a resource. A total of 1,300 mineralized intercepts were identified, relogged and assayed if not historically sampled, with structures confirmed and used in the development of the new resource model. On average each sediment hosted mineralized structure has been defined by over 59 drill intercepts.


Figure 1: Deposit Location Map- Golden Highway Project


Banded Iron Formation Related Deposits

The South West, Gap, Windjammer South and "55" deposits are located along over 4 km of strike length on the southern margins of a regional Banded Iron Formation (BIF) hosted within clastic sediments of Timiskaming age. Mineralization occurs as NW-SE trending steeply west dipping stockwork veining and associated vein structures. The structures occur up to 30 m wide, narrow with distance from the BIF contact, and have been traced up to 400 m of strike length and drilled to 1,200 m depth. The mineralized structures are spaced 30 m to 75 m. The absence of mineralized structures between South West and "55" over 2 km to the west is due to the lack of drilling. A similar absence of modelled structures occurs over 0.5 km between Windjammer South and Gap due to a lack of drilling. The BIF contact east of Windjammer South and west of "55" remains untested.

The mineralized veins and stockwork veining within the structures occur as quartz-pyrite veins within an ankerite-sericite-silica-pyrite (+ albite) alteration halo. The mineralized veins and associated stockwork zones making up the vein corridors have now been successfully traced for a distance of over 4.5 km between "55" and Windjammer South.

  • South West: A total of 17 mineralized structures have been modelled at South West with drilling to depths of 1,200 m. The vein structures have been developed to include the SW- 1, SW-2, SW-3 (a, b, c, d) and SW-4 stockwork zones. The veins strike ~NW-SE and dip ~70 to the west and have been intersected in drilling up to 400 m from the BIF contact. Four (4) new structures have been modelled in the West Block area of South West to depths of 200 m. Two smaller structures not included in the total have also been identified and modelled adjacent to the Main Fault.
  • Gap: Mineralization at Gap has been confirmed to be a continuation of the South West vein sets. Two new mineralized veins with associated stockwork zones have been developed at Gap bringing the total number of vein structures to four (4). The Gap veins have been drilled to 700 m depth and up to 300 m distance from the BIF. The mineralized zones at Gap include the SW-5, SW-6 and SW-7 stockwork zones and trend ~NNW-SSE and dip ~70 to the west
  • Windjammer South: A total of ten (10) mineralized vein structures have been modelled at Windjammer South and include the SW-8 stockwork zone. The zones strike ~NNW-SSE and dip ~60 to the west and have been drilled to distances of up to 300 m from the BIF and to depths of 300 m. Several smaller splays of veins also occur
  • "55": At "55" a total of thirteen (13) vein structures and associated stockwork zones have been modelled to depths of 250 m and distances of up to 250 m from the BIF. The veins strike NNE-SSE and dip steeply (~80) to the west Figure 2: Golden Highway Deposits: Mineralized Zones (View to NW)

    Mafic/Ultramafic Hosted Deposits

    Discovery: Mineralization at Discovery is associated with steeply dipping, east plunging quartz-pyrite veining associated with quartz feldspar to syenite porphyry dykes hosted within altered komatiitic ultramafic rocks of the Tisdale assemblage and in sheared fault contact with conglomerate and greywacke units of the Timiskaming age sedimentary rocks to the south. A total of eight (8) distinct zones of mineralization have been modelled and have widths of up to 25 m, can be traced vertically for over 150 m and along strike up to 250 m. The mineralization at Discovery occurs outside of the current NI 43-101 resource.

    Windjammer North: Mineralization occurs south of, and parallel to the regional DPFZ, trending ENE (070°) and is hosted primarily within altered komatiitic ultramafic rocks of the Tisdale assemblage in contact with basaltic flows. The target consisted of four (2) west plunging (~25°W) zones up to 40 m wide and up to 25 m thick, that can be traced for over 300 m in strike length. The zones show an aggregate thickness of close to 80 m. Mineralization is hosted by massive to brecciated ultramafic metavolcanics that have been altered to green fuchsite-carbonate assemblage in the western and central portion of the zone with more mafic metavolcanics to the east displaying albite bleaching and sericite alteration. Fracture-filling chlorite and specular hematite are common. Gold mineralization is associated with pyrite-rich white to light grey quartz veining.

    Figure 3: Golden Highway deposits: Mineralized Structures (View to SE)



    Historical Core Sampling

    The development of the new geological wire frame model involved the re-logging of over 1,300 intercepts identified as making up the 44 sediment hosted vein structures. Sampling of previously un-assayed historical core which intersected veins was conducted during the 2018 re-logging program and returned the following significant results.

    Table 1: Select Significant Intercepts: 2018 Historical Core Sampling
    Target Hole From To Length Au Vein
    Name # (m) (m) (m) (g/t) Name
    Gap MSW11-291A 685.00 687.00 2.00 2.54  Gap 1
    South West M-87-37 54.70 56.00 1.30 1.72* Cedar 
    South West MM97-191 231.00 232.50 1.50 1.59*  
    South West M-87-52 58.00 59.10 1.10 4.50 Cedar
    “55” MA05-30 384.50 385.30 0.80 4.00 55-C splay 
    “55” MA08-44 295.00 295.42 0.42 3.05 55-B splay 
    South West MU-89-99 173.00 176.85 3.85 1.54 Cedar Splay
      includes 173.00 175.00 2.00 2.32 Cedar Splay
    Intercepts are calculated using a 2.0 g/t Au cut-off unless noted (*), a maximum of 2m internal dilution and no top cap applied. All intercepts are reported as drill widths and estimated to be 65% to 100% of true width.

    QA/QC Procedures
    All core drilling conducted by Moneta is oriented. Half sawn drill core is sent to ALS Canada Inc. for drying and crushing to -2 mm, with a 1.00 kg split pulverized to -75 µm (200#). A 50 g charge is Fire Assayed and analyzed using an AAS finish for Gold. Samples above 10.00 g/t Au are analyzed by Fire Assay with a gravimetric finish and selected samples with visible gold or high-grade mineralization are assayed by Metallic Screen Fire Assay on a 1.00 kg sample. Moneta inserts independent certified reference material and blanks with the samples, and assays routine pulp repeats and coarse reject sample duplicates with the samples, as well as completing third-party check assays at Activation Laboratories Ltd. Gary O'Connor, FAusIMM is a qualified person under NI 43-101 and has reviewed and approved the contents of this press release.

    About Moneta
    The Company holds a 100% interest in 5 core gold projects strategically located along the Destor-Porcupine Fault Zone in the Timmins Gold Camp with over 85 million ounces of past gold production. The projects consist of the Golden Highway, North Tisdale, Nighthawk Lake, Kayorum and Denton projects. The Golden Highway Project covers 12 kilometres of prospective ultramafic/mafic volcanic/sedimentary rocks along the DPFZ hosting a NI 43-101 indicated resource estimate of 1,091,000 ounces (31.1 Mt at 1.09 g/t Au) and 3,204,000 ounces inferred (83.3 Mt at 1.20 g/t Au), clustered within four kilometres.

    FOR FURTHER INFORMATION, PLEASE CONTACT:
    Gary V. O'Connor, CEO
    416-357-3319

    Ian C. Peres, President & CFO
    416-579-3040

    The Company's public documents may be accessed at www.sedar.com. For further information on the Company, please visit our website at www.monetaporcupine.com or email us at .


    This news release includes certain forward-looking information and forward-looking statements, collectively "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements include, but are not limited to information with respect to the future performance of the business, its operations and financial performance and condition such as the Company's drilling program and the timing and results thereof; and the ability of the Company to finance and carry out its anticipated goals and objectives.

    Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements.
File: http://www.monetaporcupine.com/i/pdf/ME-PR-17-2018-with-maps.pdf
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#October 24, 2018
MONETA INTERCEPTS 7.90 m @ 8.09 g/t GOLD INCLUDING 0.95 m @ 34.40 g/t GOLD AT WINDJAMMER SOUTH AND 54.00 m @ 1.04 g/t GOLD INCLUDING 2.00 m @ 6.23 g/t GOLD AT SOUTH WEST

 

Toronto, Ontario -- October 24, 2018 - Moneta Porcupine Mines Inc. (TSX:ME) (OTC:MPUCF) (XETRA:MOP) (“Moneta” or the “Company”) is pleased to announce the results from three drill holes completed on the South West (“South West”) and Windjammer South Deposits (“Windjammer South”) as part of the recently completed summer 2018 drill program, which will be incorporated into the 43-101 resource estimate update anticipated later this year. South West and Windjammer South are located within the Company’s Golden Highway Project located 110 km east of Timmins, Ontario (see Figure 1).

Highlights:
Drilling results have confirmed the setting of gold mineralization at Windjammer South with the discovery of a new mineralized shoot at SW-8 and 4 new vein structures. At South West the drilling intersected the targeted SW-6 and new SW-7 mineralized stockwork shoots.
Mineralized Shoots

  • SW-6

 

Drill hole MGH18-106 intersected the SW-6 mineralized shoot returning 54.00 metres (“m”) @ 1.04 grams per tonne gold (“g/t Au”) including 2.00 m @ 6.23 g/t Au at South West

  • SW-7

 

At South West drill hole MGH18-107 intersected the new SW-7 shoot returning 22.50 m @ 1.52 g/t Au

  • SW-8

 

Vein Structures

Drill hole MGH18-108 intersected the new SW-8 mineralized shoot at Windjammer South returning 44.30 m @ 1.55 g/t Au including 3.85 m @ 4.81 g/t Au

  • WJS vein #2

Drill hole MGH18-108 intersected the new WJS vein #2 at Windjammer South returning 7.90 m @ 8.09 g/t Au including 0.95 m @ 34.40 g/t Au

  • WJS vein #2 splay

Drill hole MGH18-108 intersected the new WJS vein #2 vein splay at Windjammer South returning 4.70 m @ 4.39 g/t Au including 1.10 m @ 11.10 g/t Au

  • WJS vein #3

Drill hole MGH18-108 intersected the new WJS vein #4 at Windjammer South returning 4.25 m @ 5.70 g/t Au including 2.45 m @ 8.40 g/t Au including 0.65 m @ 23.10 g/t Au

Gary O’Connor, CEO & Chief Geologist commented, “We are encouraged that the latest drill results confirmed the setting of high gold mineralization at Windjammer South is similar to that at the South West, Gap and “55” deposit areas. The new drilling at Windjammer South and South West was part of the 2018 summer drill program and has confirmed the new SW-8 stockwork zone and 4 new vein structures at Windjammer South. The positive results at Windjammer South will enable the stock-work zones and mineralized vein structures at Windjammer South to be included in the pending resource update. The new drill holes also confirmed the SW-6 and the new SW-7 mineralized shoots at South West. The latest holes at South West were drilled to enable the SW-6 and SW-7 mineralized stock-work zones and associated vein structures to be included in the resource estimate update scheduled for later this year.”

The latest assay results are from three (3) drill holes totalling 1,238.60 m from a total of 3,550.70 m drilled in eight (8) drill holes this past summer. The new results form part of the drill program undertaken by the company at South West and Windjammer South during the summer of 2018. The drill program was conducted to define the new mineralized stock-work zones (“shoots”) identified during the 2017/2018 drill program in preparation for the new resource update.

South West and Windjammer South Deposits

The summer 2018 drill program was designed to define the SW-6 and the new SW-7 mineralized shoots at South West and the new SW-8 and four (4) new vein structures at Windjammer South identified during the 2017/2018 drill program in preparation for the pending resource estimate update. The drill programs have now been successful in confirming the existence of eleven (11) mineralized shoots and twenty-one (21) vein structures on the project. Additional veins and stock-work zones have been intersected and are also currently being modelled.

The mineralized shoots occur within Timiskaming age clastic sediments located along the sheared contact with a Banded Iron Formation (“BIF”) unit to the north. The shoots occur up to 50 m long, 25 m wide and plunge ~65 to ~75 to the south-west and have been confirmed to depths of 1,200 m.

The associated vein structures trend NW and dip steeply to the SW at ~70 and occur south of the BIF also within the clastic sediments. The first six modelled veins have an average width of approximately 2.90 m and are spaced 25 m to 30 m apart. The vein structures can now be traced for up to 400 m in strike length and have been historically drilled to vertical depths of up to 1,200 m.

The mineralized veins and stock-work veining within the shoots occur as quartz-pyrite veins within an ankerite-sericite-silica-pyrite alteration halo. The eleven (11) mineralized shoots and twenty-one (21) vein corridors have now been successfully traced along a width of over 2,200 m between South West and Windjammer South.

South West and Windjammer South Drill Results

Drill hole MGH18-106 confirmed the new SW-7 mineralized stock work zone at South West located to the immediate east of SW-6 returning 54.00 m @ 1.04 g/t Au including 2.00 m @ 6.23 g/t Au including 1.00 m @ 9.43 g/t Au. The hole also intersected the up-dip extensions of the Yew vein assaying 2.00 m @ 3.90 g/t Au at a down hole depth of 128.00 m.

Table 1: South West and Windjammer South: Selective Significant Drill Results

Target Hole From To Length Au Vein
Name # (m) (m) (m) (g/t) Name
South West MGH18-106 128.00 130.00 2.00 3.90 Yew
  includes 128.00 129.00 1.00 5.42 Yew
South West MGH18-106 272.00 326.00 54.00 1.04* SW-7
  includes 301.00 305.00 4.00 3.59 SW-7
  includes 301.00 303.00 2.00 6.23 SW-7
  Includes 301.00 302.00 1.00 9.43 SW-7
  and 308.00 326.00 18.00 1.45* SW-7
  includes 315.00 321.00 6.00 1.99 SW-7
  and 324.00 325.00 1.00 2.19 SW-7
South West MGH18-107 134.00 146.00 12.00 1.05* SW-6
  includes 141.13 142.25 1.12 2.62 SW-6
South West MGH18-107 174.00 196.50 22.50 1.52* SW-6
  includes 174.00 175.00 1.00 2.03 SW-6
  and 180.00 181.00 1.00 3.40 SW-6
  and 184.00 185.00 1.00 2.97 SW-6
South West MGH18-107 230.40 232.40 2.00 2.29 SW-7
WJS MGH18-108 113.20 118.30 5.10 2.08 WJS vein #1
  includes 113.20 113.75 0.55 12.65 WJS vein #1
WJS MGH18-108 213.00 220.90 7.90 8.09 WJS vein #2
  includes 218.50 220.90 2.40 15.93 WJS vein #2
  includes 219.95 220.90 0.95 34.40 WJS vein #2
WJS MGH18-108 267.00 273.35 6.35 3.94 WJS #2 splay
  includes 268.00 272.70 4.70 4.39 WJS #2 splay
  includes 268.00 269.10 1.10 11.10 WJS #2 splay
  and 270.70 273.35 2.00 3.26 WJS #2 splay
WJS MGH18-108 425.00 435.30 10.30 2.69 WJS vein #3
  includes 429.00 434.80 4.25 5.70 WJS vein #3
  includes 430.55 433.00 2.45 8.40 WJS vein #3
  includes 430.55 431.20 0.65 23.10 WJS vein #3
WJS MGH18-108 449.00 456.00 8.00 1.12* WJS vein #4
  includes 449.00 449.50 0.50 3.71 WJS vein #4
  and 453.00 454.00 1.00 2.17 WJS vein #4
WJS MGH18-108 462.70 507.00 44.30 1.55* SW-8
  includes 478.50 494.75 16.25 1.91 SW-8
  includes 478.50 483.35 4.85 2.32 SW-8
  includes 483.00 483.35 0.35 5.34 SW-8
  and 502.60 506.45 3.85 4.81 SW-8
  includes 502.60 504.50 1.90 5.93 SW-8

Intercepts are calculated using a 2.0 g/t Au cut-off unless noted (*), a maximum of 2m internal dilution and no top cap applied. All intercepts are reported as drill widths and estimated to be 65% to 100% of true width.

Diamond drill hole MGH18-107 was drilled to confirm the up-plunge extensions of the SW-6 mineralized shoot and intercepted 22.50 m @ 1.52 g/t Au at a down hole depth of 174.00 m. The drill hole confirmed new extensions of the SW-7 mineralized stock-work zone located to the immediate east of SW-6 assaying 2.00 m @ 2.29 g/t Au.

Drill hole MGH18-108 was drilled to confirm mineralized veins and stock-work zones intersected in previous drill campaigns at Windjammer South. This hole intersected four (4) vein structures and one (1) stockwork zone;

  • SW-8 mineralized shoot: 44.30 m @ 1.55 g/t Au, including 4.85 m @ 2.32 g/t Au and 3.85 m @ 4.81 g/t Au
  • WJS vein #1: 5.10 m @ 2.08 g/t Au, including 0.55 m @ 12.65 g/t Au
  • WJS vein #2: 7.90 m @ 8.09 g/t Au, including 2.40 m @ 15.93 g/t Au, including 0.95 m @ 34.40 g/t Au
  • WJS vein #2 splay: 4.70 m @ 4.39 g/t Au including 1.10 m @ 11.10 g/t Au
  • WJS vein #3: 10.30 m @ 2.69 g/t Au, including 4.25 m @ 5.70 g/t Au, including 0.65 m @ 23.10 g/t Au
  • WJS vein #4: 8.00 m @ 1.12 g/t Au including 0.50 m @ 3.71 g/t Au

Drilling at Windjammer South will enable the newly interpreted mineralized zones to be included in the pending resource update.

Please click below for Figure 1: South West and Windjammer South Location Map --
Golden Highway Project
http://www.monetaporcupine.com/i/maps/2018-10-24_NR-Fig1.jpg

Please click below for Figure 2: South West and Windjammer South: Geology and Drill Location Map
http://www.monetaporcupine.com/i/maps/2018-10-24_NR-Fig2.jpg

Please click below for Figure 3: South West and Windjammer South: Schematic Cross Section
http://www.monetaporcupine.com/i/maps/2018-10-24_NR-Fig3.jpg

Table 2: Drill Hole Details

Hole Easting Northing Elevation Azimuth Inclination Depth
(#) (mE) (mN) (masl) () () (m)
MGH18-106 571663 5370203 327 268 -55 351.0
MGH18-107 571812 5370127 327 8 -55 239.6
MGH18-108 572368 5370243 331 281 -60 648.0

QA/QC Procedures
All core drilling conducted by Moneta is oriented. Half sawn drill core is sent to ALS Canada Inc. for drying and crushing to -2 mm, with a 1.00 kg split pulverized to -75 m (200#). A 50 g charge is Fire Assayed and analyzed using a AAS finish for Gold. Samples above 10.00 g/t Au are analyzed by Fire Assay with a gravimetric finish and selected samples with visible gold or high-grade mineralization are assayed by Metallic Screen Fire Assay on a 1.00 kg sample. Moneta inserts independent certified reference material and blanks with the samples, and assays routine pulp repeats and coarse reject sample duplicates with the samples, as well as completing third-party check assays at Activation Laboratories Ltd. Gary O’Connor, FAusIMM is a qualified person under NI 43-101 and has reviewed and approved the contents of this press release.

About Moneta
The Company holds a 100% interest in 5 core gold projects strategically located along the Destor-Porcupine Fault Zone in the Timmins Gold Camp with over 85 million ounces of past gold production. The projects consist of the Golden Highway, North Tisdale, Nighthawk Lake, Kayorum and Denton projects. The Golden Highway Project covers 12 kilometres of prospective ultramafic/mafic volcanic/sedimentary rocks along the DPFZ hosting a NI 43-101 indicated resource estimate of 1,091,000 ounces (31.1 Mt at 1.09 g/t Au) and 3,204,000 ounces inferred (83.3 Mt at 1.20 g/t Au), clustered within four kilometres.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Gary V. O’Connor, CEO and Chief Geologist
416-357-3319

Ian C. Peres, President & CFO
416-579-3040

The Company’s public documents may be accessed at www.sedar.com. For further information on the Company, please visit our website at www.monetaporcupine.com or email us at .

This news release includes certain forward-looking information and forward-looking statements, collectively “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements include, but are not limited to information with respect to the future performance of the business, its operations and financial performance and condition such as the Company’s drilling program and the timing and results thereof; and the ability of the Company to finance and carry out its anticipated goals and objectives.

Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements.

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#October 10, 2018
MONETA INTERCEPTS 5.30 m @ 7.63 g/t GOLD INCLUDING 0.80 m @ 22.40 g/t GOLD AND 7.13 m @ 5.06 g/t GOLD INCLUDING 1.98 m @ 12.47 g/t GOLD AT SOUTH WEST

 Toronto, Ontario -- October 10, 2018 - Moneta Porcupine Mines Inc. (TSX:ME) (OTC:MPUCF) (XETRA:MOP) ("Moneta" or the "Company") is pleased to announce the results from five drill holes completed on the South West Deposit ("South West") as part of the recently completed summer 2018 drill program, in anticipation of the 43-101 resource estimate update anticipated later this year. South West is located within the Company's Golden Highway Project located 110 km east of Timmins, Ontario (see Figure 1).

Highlights:
Drilling results at South West confirmed the extent and grade of the SW-4 and SW-6 mineralized shoots, extended known veins and intersected new vein structures.


Mineralized Shoots
  • SW-4
Drill hole MGH18-102 intersected the SW-4 mineralized shoot returning 12.00 metres (“m”) @ 2.74 grams per tonne gold (“g/t Au”) including 2.00 m @ 6.49 g/t Au and 5.30 m @ 7.63 g/t Au, including 0.80 m @ 22.40 g/t Au and 0.90 m @ 13.45 g/t Au
  • SW-6
Drill hole MGH18-103 intersected the SW-6 shoot returning 8.00 m @ 1.38 g/t Au and 3.50 m @ 2.33 g/t Au

Vein Structures
  • Alder Vein
MGH18-101 intersected the up-plunge extensions of the Alder vein returning 0.42 m @ 17.25 g/t Au
  • Yew Vein
MGH18-103 intersected the northern extensions of the Yew vein returning 7.13 m @ 5.06 g/t Au including 1.98 m @ 12.47 g/t Au
  • New Veins
Drill hole MGH18-103 intersected a new vein west of the SW-3a mineralized shoot returning 0.97 m @ 8.02 g/t Au. MGH18-102 intersected a new vein returning 2.00 m @ 6.49 g/t Au

Gary O'Connor, CEO & Chief Geologist commented, "We continue to be encouraged by the latest drill results as part of the resource definition drill program. The 5 new drill holes have confirmed the extent, as well as size and grade of the SW-4 and SW-6 mineralized shoots, identified during the 2017/2018 winter drill program at South West. The recent drilling has located new mineralized veins notably in the Gap area where vein modelling has not been completed as well as extended known veins. The latest holes were drilled to enable the new stock-work zones to be included in the pending resource estimate update later this year. We await the assay results of 3 drill holes which were testing 2 additional mineralized shoots at South West and one new zone at Windjammer South."

The latest assay results are from five (5) drill holes totalling 2,312.10 m from a total of eight (8) drill holes for 3,550.70 m drilling at South West this past summer. The new drill program at South West forms part of the drill program undertaken by the company during the summer of 2018. The drill program was conducted to define the new mineralized stock-work zones ("shoots") identified during the 2017/2018 drill program in preparation of the new resource update. The results of the remaining 3 drill holes will be released as they become available.

South West Deposit

The summer 2018 drill program at South West was designed to define the SW-4 and SW-6 mineralized shoots identified during the 2017/2018 drill program in preparation for the pending resource estimate update. The drill programs have been successful in confirming the existence of nine (9) mineralized shoots and seventeen (17) vein structures. Additional veins and stock-work zones have been intersected and are also currently being modelled.

The mineralized shoots occur within Timiskaming age clastic sediments located along the sheared contact with a Banded Iron Formation ("BIF") unit to the north. The shoots occur up to 50 m long, 25 m wide and plunge ~65° to ~75° to the south-west and have been confirmed to depths of 1,200 m.

The associated vein structures trend NW and dip steeply to the SW at ~70° and occur south of the BIF within the clastic sediments also. The first six modelled veins have an average width of approximately 2.90 m and are spaced 25 m to 30 m apart. The vein structures can now be traced for up to 500 m in strike length and have been historically drilled to depths of up to 1,200 m.

The mineralized veins and stock-work veining within the shoots occur as quartz-pyrite veins within an ankerite-sericite-silica-pyrite alteration halo. The nine (9) mineralized shoots and seventeen (17) vein corridors have now been successfully traced along a width of over 1,200 m.

South West Drill Results

Drill hole MGH18-101 confirmed the up-plunge near surface extensions of the Alder vein by 50 m. The drill hole assayed 0.42 m @ 17.25 g/t Au at a down hole depth of 102.68 m. The hole also helped confirm the location and of the SW-3a mineralized stock-work zone.

Diamond drill hole MGH18-102 was drilled to confirm the location and infill the gold grade of the SW-4 mineralized shoot located on the NW trending Gap structure. The hole intercepted 5.30 m @ 7.63 g/t Au at a down hole depth of 568.00 m, including 3.55 m @ 10.57 g/t Au which includes 0.80 m @ 22.40 g/t Au and 0.90 m @ 13.45 g/t Au. The drill hole confirmed new extensions of the SW-4 mineralized stockwork zone assaying 44.00 m @ 1.11 g/t Au and intersected a new vein assaying 12.00 m @ 2.74 g/t Au including 2.00 m @ 6.49 g/t Au at a down hole depth of 425.00 m located east of the Larch Vein.

Drill hole MGH18-103 was drilled to test the size and grade of the mineralized stock-work zone that makes up the SW-6 shoot. The hole returned 7.13 m @ 5.06 g/t Au including 1.98 m @ 12.47 g/t Au from the Yew Vein located west of SW-6. The hole intersected 8.00 m @ 1.38 g/t Au and 3.50 m @ 2.33 g/t Au from the SW-6 shoot. The hole also confirmed the extensions of the SW-3a shoot and intersected 2 new veins east of the Larch vein which returned 1.00 m @ 4.53 g/t Au and 2.10 m @ 2.32 g/t Au.

Drill hole MGH18-104 tested the eastern extensions of the SW-5 stock-work zone and confirmed the plunge and extent of veining to the east.

Diamond drill hole MGH18-105 was drilled to test the southern extensions and plunge of the SW-5 shoot. The hole intersected the edge of the mineralized stock-work. The hole intersected a new zone of variable stock-work veining and alteration east of SW-5 with a wide zone of veining returning 28.50 m @ 0.55 g/t Au. The new shoot is currently not being modelled.
Hole From To Length Au Vein
# (m) (m) (m) (g/t) Name
MGH18-101 102.68 103.10 0.42 17.25 Alder
MGH18-102 396.00 398.00 2.00 3.42 New Vein
MGH18-102 425.00 437.00 12.00 2.74 New Vein
includes 432.00 434.00 2.00 6.49 New Vein
MGH18-102 568.00 573.30 5.30 7.63 SW-4
includes 568.80 572.35 3.55 10.57 SW-4
includes 568.80 569.60 0.80 22.40 SW-4
and 571.45 572.35 0.90 13.45 SW-4
MGH18-102 649.00 693.00 44.00 1.11* SW-4
includes 653.00 654.00 1.00 3.26 SW-4
and 663.00 664.00 1.00 3.44 SW-4
and 686.00 688.00 2.00 2.36 SW-4
MGH18-103 90.12 91.09 0.97 8.02 New Vein
MGH17-103 181.00 182.10 1.10 2.11 SW-3a
MGH18-103 387.02 394.15 7.13 5.06 Yew
includes 387.02 389.00 1.98 12.47 Yew
MGH18-103 451.60 459.60 8.00 1.38* SW-6
includes 455.60 456.60 1.00 3.28 SW-6
and 458.60 459.60 1.00 2.38 SW-6
MGH18-103 464.20 465.00 0.80 2.54 SW-6
MGH18-103 482.40 483.25 0.85 3.28 SW-6
MGH18-103 487.50 491.00 3.50 2.33 SW-6
MGH18-103 530.00 531.00 1.00 4.53 New Vein
MGH18-103 549.45 551.55 2.10 2.32 New Vein
includes 549.45 550.50 1.05 3.58 New Vein
MGH18-105 193.00 195.60 2.60 1.12* SW-5
MGH18-105 342.50 371.00 28.50 0.55* New shoot
includes 359.90 361.00 1.10 2.66 New shoot

Intercepts are calculated using a 2.0 g/t Au cut-off unless noted (*), a maximum of 2m internal dilution and no top cap applied. All intercepts are reported as drill widths and estimated to be 65% to 100% of true width.

Table 2: Drill Hole Details
Hole Easting Northing Elevation Azimuth Inclination Depth
(#) (mE) (mN) (masl) () () (m)
MGH18-101 571169 5369610 324 44 -60 366.1
MGH18-102 571521 5369726 327 360 -68 737.0
MGH18-103 571204 5369658 324 30 -68 588.0
MGH18-104 571221 5369900 325 83 -62 249.0
MGH18-105 571663 5370203 327 86 -53 372.0

Please click below for Figure 1 - South West Location Map: Golden Highway Project
http://www.monetaporcupine.com/i/maps/2018-10-10_NR-Fig1.jpg

Please click below for Figure 2 - South West: Geology and Drill Location Map
http://www.monetaporcupine.com/i/maps/2018-10-10_NR-Fig2.jpg

Please click below for Figure 3 - South West: Schematic Cross Section
http://www.monetaporcupine.com/i/maps/2018-10-10_NR-Fig3.jpg

QA/QC Procedures
All core drilling conducted by Moneta is oriented. Drill core is sawn and half is sent ALS Canada Inc. for drying and crushing to -2 mm, with a 1.00 kg split pulverized to -75 µm (200#). A 50 g charge is Fire Assayed and analyzed using a AAS finish for Gold. Samples above 10.00 g/t Au are analyzed by Fire Assay with a gravimetric finish and selected samples with visible gold or high-grade mineralization are assayed by Metallic Screen Fire Assay on a 1.00 kg sample. Moneta inserts independent certified reference material and blanks with the samples, and assays routine pulp repeats and coarse reject sample duplicates with the samples, as well as completing third-party check assays at Activation Laboratories Ltd. Gary O'Connor, FAusIMM is a qualified person under NI 43-101 and has reviewed and approved the contents of this press release.

About Moneta
The Company holds a 100% interest in 5 core gold projects strategically located along the Destor-Porcupine Fault Zone in the Timmins Gold Camp with over 85 million ounces of past gold production. The projects consist of the Golden Highway, North Tisdale, Nighthawk Lake, Kayorum and Denton projects. The Golden Highway Project covers 12 kilometres of prospective ultramafic/mafic volcanic/sedimentary rocks along the DPFZ hosting a NI 43-101 indicated resource estimate of 1,091,000 ounces (31.1 Mt at 1.09 g/t Au) and 3,204,000 ounces inferred (83.3 Mt at 1.20 g/t Au), clustered within four kilometres.


FOR FURTHER INFORMATION, PLEASE CONTACT:
Gary V. O'Connor, CEO and Chief Geologist
416-357-3319

Ian C. Peres, President & CFO
416-579-3040


The Company's public documents may be accessed at www.sedar.com. For further information on the Company, please visit our website at www.monetaporcupine.com or email us at info@monetaporcupine.com.

This news release includes certain forward-looking information and forward-looking statements, collectively "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements include, but are not limited to information with respect to the future performance of the business, its operations and financial performance and condition such as the Company's drilling program and the timing and results thereof; and the ability of the Company to finance and carry out its anticipated goals and objectives.

Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements.</em
>
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#September 18, 2018
Moneta Intercepts 1.75 M @ 7.04 g/t Gold Including 0.85 M @ 12.15 g/t Gold and Intersects New Veins at the "55" Deposit

 Toronto, Ontario -- September 18, 2018 - Moneta Porcupine Mines Inc. (TSX:ME) (OTC:MPUCF) (XETRA:MOP) ("Moneta" or the "Company") is pleased to announce the results from six diamond drill holes completed on the "55" Deposit ("55") located within the Company's Golden Highway Project (located 110 km east of Timmins, Ontario, see Figure 1).

Highlights:
Drilling at "55" successfully in confirmed all seven (7) vein structures and located new veins

Vein Structures

  • “D” Vein
MGH17-052 intersected 1.74 m @ 7.04 g/t Au including 0.85 m @ 12.15 g/t Au. MGH17-050 returned 2.00 m @ 3.60 g/t Au including 1.00 m @ 5.12 g/t Au
  • “B” Vein
Drill hole MGH17-050 intersected 2.00 m @ 3.03 g/t Au and hole MGH17-052 assayed 1.00 m @ 3.24 g/t Au
  • “J” Vein
Drill hole MGH17-055 intersected 10.00 m @ 1.78 g/t Au including 2.00 m @ 4.11 g/t Au
  • “I” Vein
Drill hole MGH17-057A intersected 6.00 m @ 2.19 g/t Au including 1.00 m @ 4.46 g/t Au
  • “K” Vein
MGH17-055 intersected 2.70 m @ 1.68 g/t Au including 0.90 m @ 3.58 g/t Au
  • “G” Vein
MGH17-061 intersected 11.20 m @ 0.92 g/t Au including 1.00 m @ 2.60 g/t Au
  • New Veins
MGH17-061 intersected a new vein assaying 0.80 m @ 7.34 g/t Au. MGH17-055 intersected an additional new vein returning 2.00 m @ 2.27 g/t Au including 1.00 m @ 3.31 g/t Au

Gary O'Connor, CEO & Chief Geologist commented, "We are encouraged with the latest drill results from the "55" deposit, confirming all seven (7) vein structures tested on the current program. The area represents an additional target area in a similar geological setting to the South West deposit where we are confident of adding new higher-grade structural zones to our resource base."

The latest assay results are from six (6) drill holes totalling 1,467.0 m of drilling at "55" that were designed to confirm 7 of the 12 higher-grade structural vein targets identified to date. Hole MGH17-057 was a re-drill of hole MGH17-057A which could not be completed. The drill program at "55" concludes the previously announced exploration drill program undertaken by the Company in late 2017 and early 2018 for a total of 39,300 m in 66 drill holes on the Golden Highway Project.

"55" Deposit
The "55" area occurs approximately 2 kilometres (km) west of the South West Deposit ("South West"), the target of most of the 2017/2018 drill program. Gold mineralization occurs in a similar geological setting and style to South West also hosted within Timiskaming age clastic sediments in contact with predominantly Banded Iron Formation (BIF) units to the north in fault contact with ultramafic rocks. The fault is one of the main splays of the regional Destor-Porcupine Fault Zone. BIF units also bound the mineralization to the south.

A total of twelve (12) NNW trending vein structures and one (1) stockwork zone have been interpreted to date. The veins have been traced up to 250 m in strike length and drilled to depths of 300 m. The drill program was designed to drill confirm 7 of the vein structures interpreted from historical drilling consisting of 70 drill holes for 20,356 m of drilling at "55". The main veins have an average width of approximately 2.50 m and are spaced 30 m to 35 m apart. The stockwork zone "shoot" occurs up to 50 m long and 25 m wide along the sheared BIF contact within the clastic sediments. The shoot has been drilled to depths of 300 m and plunges steeply at ~70° to the west. The mineralized shoot was not tested in this program.

Gold mineralization is associated with quartz-pyrite veining within structural corridors associated with ankerite-sericite-silica-pyrite alteration hosted within the clastic sediments.

"55" Drill Results

Drill hole MGH17-050 was drilled to test the "B" vein structures within the western structural corridor at "55". The hole intercepted the "B" vein and returned 4.00 m @ 2.40 g/t Au including 1.00 m @ 5.12 g/t Au.

Drill hole MGH17-052 was drilled south of MGH17-050 to test the "C" and "D" vein structures from the western structural corridor. The hole returned 1.75 m @ 7.04 g/t Au including 0.85 m @ 12.15 g/t Au from the "D" vein at 75.85 m down hole depth and 1.00m @ 3.24 g/t Au from the "C" vein.

MGH17-055 was drilled to test the "J" and "K" vein structures from the eastern structural corridor. The hole intersected both veins and returned 10.00 m @ 1.78 g/t Au including 2.00 m @ 4.11 g/t Au from the "J" vein.

Drill holes MGH17-057 and MGH17-057A were drilled to test the "I" and "J" structures from the eastern structural corridor. MGH17-057 intersected both veins and assayed 5.00 m @ 1.60 g/t Au including 1.00 m @ 2.91 g/t Au from the "J" vein at a depth of 122.00 m. MGH17-057A intersected the "I" vein returning 6.00 m @ 2.19 g/t Au including 1.00 m @ 4.46 g/t Au at a depth of 47.00 m.

Diamond drill hole MGH17-061 was drilled to test the "G", "I" and "J" vein structures. The hole intercepted 1.30 m @ 4.52 g/t Au including 0.60 m @ 6.38 g/t Au from the "G" vein at 75.50 m down hole depth. The hole also intersected 0.80 m @ 7.34 g/t Au from a new vein and 1.00 m @ 3.01 g/t Au from the "I" vein.


Table 1: "55": Selective Significant Drill Results
Hole From To Length Au Vein
(#) (m) (m) (m) (g/t) (Name)
MGH17-050 170.40 174.40 4.00 2.40* B Vein
includes 171.40 173.40 2.00 3.60 B Vein
includes 172.40 173.40 1.00 5.12 B Vein
MGH17-050 177.00 179.00 2.00 2.47* B Vein splay
includes 177.00 178.00 1.00 3.28 B Vein splay
MGH17-050 202.50 208.30 5.80 1.97* B Vein splay
includes 203.50 205.50 2.00 3.03 B Vein splay
MGH17-052 75.85 77.60 1.75 7.04 D Vein
includes 75.85 76.70 0.85 12.15 D Vein
MGH17-052 135.00 136.00 1.00 3.24 C Vein
MGH17-055 64.90 66.50 1.60 3.45  New
MGH17-055 118.00 128.00 10.00 1.78* J Vein
includes 125.00 127.00 2.00 4.11 J Vein
MGH17-055 152.00 153.80 2.70 1.68* K Vein
includes 152.00 152.90 0.90 3.58 K Vein
MGH17-055 179.50 181.50 2.00 2.28  New
MGH17-055 190.00 192.00 2.00 2.27 New
includes 191.00 192.00 1.00 3.31 New
MGH17-057 122.00 127.00 5.00 1.60 J Vein
includes 122.00 123.00 1.00 2.91 J Vein
and 125.00 126.00 1.00 2.64 J Vein
MGH17-057A 42.00 48.00 6.00 2.19 I Vein
includes 47.00 48.00 1.00 4.46 I Vein
MGH17-061 75.70 77.00 1.30 4.52 G Vein Splay
includes 76.40 77.00 0.60 6.38 G Vein Splay
MGH17-061 87.00 98.20 11.20 0.92 G Vein
includes 87.00 88.00 1.00 2.60 G Vein
MGH17-061 105.80 106.60 0.80 7.34 New
MGH18-061 311.00 312.00 1.00 3.01 I Vein
MGH18-061 347.00 348.00 1.00 4.26 J Vein Splay
MGH18-061 363.10 364.10 1.00 4.51 J Vein

Intercepts are calculated using a 2.0 g/t Au cut-off unless noted (*), maximum of 2m internal waste and no top cap. All intercepts are reported as drill widths and estimated to be 70% to 85% of true widths.

Please click below for Figure 1: "55" Location Map - Golden Highway Project
http://www.monetaporcupine.com/i/maps/2018-09-18_NR-Fig1.jpg

Please click below for Figure 2: "55" Geology and Drill Location Map
http://www.monetaporcupine.com/i/maps/2018-09-18_NR-Fig2.jpg

Please click below for Figure 3: "55" Schematic Cross Section
http://www.monetaporcupine.com/i/maps/2018-09-18_NR-Fig3.jpg

Table 2: Drill Hole Details
Hole Easting Northing Elevation Azimuth Inclination Depth
(#) (mE) (mN) (masl) () () (m)
MGH17-050 569114 5368849 320 115 -57 240.0
MGH17-052 569128 5368763 320 111 -59 252.0
MGH17-055 569331 5368843 320 113 -58 240.0
MGH17-057 569320 5368810 325 115 -55 250.0
MGH17-057A 569320 5368810 325 115 -55 85.0
MGH17-061 569233 5368792 321 112 -56 400.0

QA/QC Procedures
All core drilling conducted by Moneta is oriented. Drill core is sawn and half is sent ALS Canada Inc. for drying and crushing to -2 mm, with a 1.00 kg split pulverized to -75 µm (200#). A 50 g charge is Fire Assayed and analyzed using a AAS finish for Gold. Samples above 10.00 g/t Au are analyzed by Fire Assay with a gravimetric finish and selected samples with visible gold or high-grade mineralization are assayed by Metallic Screen Fire Assay on a 1.00 kg sample. Moneta inserts independent certified reference material and blanks with the samples and assays routine pulp repeats and coarse reject sample duplicates with the samples, as well as completing third-party check assays at Activation Laboratories Ltd. Gary O'Connor, FAusIMM is a qualified person under NI 43-101 and has reviewed and approved the contents of this press release.

About Moneta
The Company holds a 100% interest in 5 core gold projects strategically located along the Destor-Porcupine Fault Zone in the Timmins Gold Camp with over 85 million ounces of past gold production. The projects consist of the Golden Highway, North Tisdale, Nighthawk Lake, Kayorum and Denton projects. The Golden Highway Project covers 12 kilometres of prospective ultramafic/mafic volcanic/sedimentary rocks along the DPFZ hosting a NI 43-101 indicated resource estimate of 1,091,000 ounces (31.1 Mt at 1.09 g/t Au) and 3,204,000 ounces inferred (83.3 Mt at 1.20 g/t Au), clustered within four kilometres.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Gary V. O'Connor, CEO and Chief Geologist
416-357-3319

Ian C. Peres, President & CFO
416-579-3040


The Company's public documents may be accessed at www.sedar.com. For further information on the Company, please visit our website at www.monetaporcupine.com or email us at info@monetaporcupine.com.


This news release includes certain forward-looking information and forward-looking statements, collectively "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements include, but are not limited to information with respect to the future performance of the business, its operations and financial performance and condition such as the Company's drilling program and the timing and results thereof; and the ability of the Company to finance and carry out its anticipated goals and objectives.

Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements.
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This page was created on Mon Dec 10, 2018 at 3:28:59 AM Pacific Time.