Doubleview Completes Detailed Mineralogical Study of Scandium Distribution of Head and Metallurgical Samples of the Hat Deposit

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Vancouver, British Columbia–(Newsfile Corp. – August 9, 2022) – Doubleview Gold Corp. (TSXV: DBG) (OTCQB: DBLVF) (FSE: 1D4) (“Doubleview”) is pleased to announce that a detailed mineralogical study of the distribution of scandium in its 100% owned Hat deposit head and metallurgical samples has been completed. Hat Copper-Gold-Cobalt deposit is located in the Golden Triangle region of Atlin Mining District in British Columbia. Assay data and metallurgical testwork has indicated that the Hat deposit contains scandium at elevated levels of 45 ppm to 50 ppm twice that normally found in crustal rocks. A comprehensive testwork program is currently underway at Sepro Laboratories in Langley, BC to investigate the potential for scandium recovery and extraction.

Initial investigations have shown that scandium is primarily associated with clinopyroxene and amphiboles and that during bulk flotation testwork 99.5% of the scandium reported to the flotation tailings. Bulk flotation tails will be used as the feed to the scandium recovery testwork, which will be undertaken during the next few weeks. Test results have demonstrated that the Hat deposit has favourable metallurgical extraction characteristics for a range of elements including, copper, gold, cobalt, silver and PGE. So far, the results from the testwork have been in line with expectations. The testwork is now proceeding to the hydrometallurgical extraction phase and is initially focussed on scandium extraction and optimisation. Thereafter it is anticipated that the testwork will then proceed to the scandium recovery phase. Doubleview CEO, Mr. Farshad Shirvani commented “The company is extremely encouraged with the latest phase of metallurgical work. The potential impact of being able to include economically recoverable scandium to the Hat Deposit is significant.”

An earlier testwork program demonstrated that it was possible to produce a high-gold, low-cobalt copper concentrate and a low-gold, high-cobalt pyrite concentrate from Hat mineralogical materials. Current flotation testwork is aimed at generating flotation tailings for scandium extraction tests. Supplementary flotation testwork on current scandium samples above an assumed 0.15% copper cut-off have demonstrated the recoverability of both copper and gold. A locked cycle test achieved a concentrate copper grade of 10.6% with 93.2% copper recovery at a mass pull of 1.7%. Gold grades varied between 5.4g Au/t and 9.3g Au/t with minimal losses to tails. Previously recoveries of 86% copper and 87% gold were achieved at grades as high as 27% Cu and 12 g Au/t. Cobalt recovery at 35% was lower than the 74% achieved in earlier tests owing to the low pyrite content of the current suite of samples. Although present in only trace amounts PGE, in particular palladium, are largely recovered to the copper concentrate. Bulk flotation results showed that 99.5% of the scandium in the feed reported to the flotation tailings. It is anticipated that at least partial concentration of scandium will be possible by a combination of magnetic and gravity separation before subsequent leach extraction and recovery.

Qualified Persons:

EUR ING Andrew Carter B.Sc. CEng. MIMMM, MSAIMM SME of Coffey, Tetra Tech is Doubleview’s Qualified Person with respect to the Hat Project Metallurgical Studies as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects and has reviewed and approved the technical contents of this news release. He is independent of Doubleview.

About Doubleview Gold Corp

Doubleview Gold Corp., a mineral resource exploration and development company, is based in Vancouver, British Columbia, Canada, and is publicly traded on the TSX-Venture Exchange [TSX-V: DBG], [OTCQB: DBLVF], [GER: A1W038], [Frankfurt: 1D4]. Doubleview identifies, acquires and finances precious and base metal exploration projects in North America, particularly in British Columbia. Doubleview increases shareholder value through acquisition and exploration of quality gold, copper and silver properties and the application of advanced state-of-the-art exploration methods. The Company’s portfolio of strategic properties provides diversification and mitigates investment risk.

On behalf of the Board of Directors,

Farshad Shirvani, President & Chief Executive Officer

For further information please contact:

Doubleview Gold Corp
Vancouver, BC Farshad Shirvani
President & CEO
T: (604) 678-9587

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