Summary •Pucara Gold has completed its Phase 1 drilling program at the previously undrilled Lourdes Gold Project. Pucara completed a total of 3,955 meters in 25 holes, including 19 reverse circulation (RC) and 6 core holes
•A total of five primary target areas were tested throughout Phase 1: Paccha Huayco Diatreme, Chucllani Zone, Ayani Zone, North Diatreme, and Jellopata Diatreme
•The Drill Program has confirmed the interpretation of the geophysical IP resistivity anomalies as pervasive silica alteration with an excess of 200 metres of oxidized silica alteration; known to be a favourable host for gold mineralization
•CEO, Steve Zuker, and VP Exploration, Ken Balleweg, traveled to the Lourdes Gold Project to oversee the completion of the drill campaign
•Drill assay results from Phase 1 are pending and expected in January 2021

Vancouver, British Columbia | Pucara Gold Ltd. (“Pucara Gold”, “Pucara” or the “Company”) (TSXV: TORO) is pleased to announce that it has completed its Phase 1 Lourdes Gold Project drill program, the first ever drill program on the Lourdes Gold Project. All 25 holes have been submitted to the ALS Laboratory in Lima for assays.

“We’re very pleased to have completed our Phase 1 Drill Program” stated Steve Zuker, CEO. “I would like to thank AK Drilling and our team, who worked diligently to complete 3,955 meters of drilling in 25 holes. Assay results are expected in January, as the ALS laboratory in Lima is experiencing increased throughput, given expedited permitting approval timelines and a marked increase in drilling activity since Peruvian lockdown restrictions have eased.”

“We’re excited to have been able to drill test five of our nine primary target areas during the Phase 1 Drill Program” commented Ken Balleweg, VP Exploration. “The drills have intersected strongly oxidized silicic alteration extending from surface to depths of more than 200 meters. Additionally, multi-stage hydrothermal breccias have been identified in several of the target areas. Each brecciation event has the potential to carry gold mineralization, increasing the probability of having an economic gold deposit in the Lourdes project area. Drill holes also indicate continuity between the blind Paccha Huayco diatreme target and the gold-bearing outcrops of the Chucllani zone.”