DGAP-News: Gossan Resources LtdShs

DGAP-News: Geochem Sampling Underway as Gossan Plans Winter Drill Program at Sturgeon Lake Zinc Project

DGAP-News: Gossan Resources Limited / Key word(s): Miscellaneous Geochem Sampling Underway as Gossan Plans Winter Drill Program at Sturgeon Lake Zinc Project

06.09.2016 / 17:37 The issuer is solely responsible for the content of this announcement.

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Winnipeg, Manitoba--(Newsfile Corp. - September 6, 2016) - Gossan Resources Limited (TSXV: GSS) (FSE: GSR), has initiated a sampling program at its new property in the zinc-rich polymetallic Sturgeon Lake Greenstone Belt in northwestern Ontario in order to plan a winter drill program. The drill program will investigate strong untested geophysical targets with coincident geochemical anomalies.

Gossan President, Douglas Reeson, stated, 'We have initiated a further more detailed geochemical survey in order to better define anomalous metal zones and determine the most prospective geophysical targets for drilling. Gossan expects to conduct a winter drill program at its Sturgeon Lake Property. We are highly encouraged by the coincident geophysical and geochemical anomalies, presence of sulphide mineralization, strong hydrothermal alteration, favourable stratigraphy and proximity to a series of past producing mines.'

A property map and historical production of the 6 mines in the Sturgeon Lake may be viewed at http://gossan.ca/pdfs/SturgeonLake-Sept16.pdf.

The untested geophysical targets on Gossan's property were the highest priority targets from a 2010 VTEM survey conducted by Geotech Ltd. and subsequently modeled with Geotech proprietary software. These targets were not previously tested due to the need for a winter drill program which was not carried out at that time. Coincident geochemical anomalies associated with these targets include the highest possible ranking for VMS mineralization by SGH soil surveys, and peripheral zinc and copper metal anomalies from enzyme leach soil surveys. All geochemical analyses were carried out by Actlabs. The current geochemical survey will provide increased resolution and better coverage over the actual target zones which were missed by the past enzyme leach survey due to inability to acquire a suitable sample for testing. A compilation of new and historic information will be used by Gossan to plan its winter drilling strategy.

Gossan's Sturgeon Lake Property has particular along-strike proximity to 4 past-producing deposits (Sturgeon Lake, Creek Zone, Sub-Creek Zone and Lyon Lake deposits). Gossan's property is distinguished by a series of strong VTEM conductors with coincident soil geochemical anomalies strongly indicative of VMS type mineralization. To assist with its exploration strategy Gossan geologists recently completed an examination of drill core from a 2010 program, which has been acquired by Gossan and are located in the area of interest. Examination confirms that selected untested geophysical targets on Gossan's property are located in the stratigraphic horizon of interest. These targets are hosted within blue quartz-crystal rhyolites with strong hydrothermal alteration and mineralization similar to the blue quartz-crystal rhyolites that host the nearby deposits. Mineralization in past drilling contains pyrite and pyrrhotite with anomalous zinc and copper.

Gossan's Sturgeon Lake Property which is comprised of 15 claims totaling 3,344 hectares, is directly along strike and to the east of a total of 6 Volcanogenic Massive Sulfide (VMS) deposits that were mined between 1970 and 1991. Approximately 18.7 million tonnes of ore was mined from these VMS deposits with typical grades of 8.0% zinc, 1.1% copper, 0.8% lead, 120 gpt silver and 0.5 gpt Gold (GSC 1995).

Hamid Mumin, P.Geo., a Gossan Director is the Company's Qualified Person and he has reviewed and approved the technical contents of this news release.

Gossan Resources Limited is engaged in mineral exploration and development in Manitoba and northwestern Ontario. It has a well-diversified portfolio of properties hosting gold, platinum group and base metals, as well as the specialty and minor metals, vanadium, titanium, tantalum, lithium and chromium. The Company also has a large deposit of high-purity, magnesium-rich dolomite and various financial interests in a frac sand deposit. The company trades on the TSX Venture and the Frankfurt/Freiverkehr&Xetra Exchanges and currently has 33,170,400 common shares outstanding.

Neither 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 news release.

For further information, please bookmark www.gossan.ca or contact:

Douglas Reeson, Chairman & CEO Gossan Resources Limited Tel: (416) 533-9664 E-Mail: info@gossan.ca [email: nfo@gossan.ca]

Kathy Ringland, Office Manager Tel : (204) 943-1990

Click on, or paste the following link into your web browser, to view the associated documents

http://www.newsfilecorp.com/release/22433

News Source: Newsfile

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06.09.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

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Language: English Company: Gossan Resources Limited Canada ISIN: CA3834151068 End of News DGAP News Service ---------------------------------------------------------------------------

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