Bitterroot Resources Increases Nighthawk Gold Project Size to 240 Claims, Announces C$250,000 Private Placement

Bitterroot Resources Ltd. (symbol BTT, TSX-V) has staked an additional 174 claims on its Nighthawk gold project, bringing the total to 240 claims, covering approximately 4,800 acres (19.4 sq. km). Nighthawk is located in Nevada’s Walker Lane district, adjacent to Highway 95, some 50 km west of Tonopah and 90 km southwest of Round Mountain. The east end of the claim block abuts Allegiant Gold’s Boss/Berg/Castle claims. The 100 percent-owned Nighthawk claims are situated on BLM-administered lands and are not subject to any underlying royalties.

Seven (7) multi-km long structural target areas have been identified on pediment with sporadic outcrops and thin alluvial cover. The Nighthawk claims are prospective for multi-million ounce, structurally-controlled oxide and sulphide gold/silver deposits like Silicon/Merlin, Round Mountain and Tonopah, all of which are in the Walker Lane structural trend.

Bitterroot’s aeromagnetic drone survey identified some 15 km strike-length of previously unknown and untested altered fault structures of the Walker Lane (NW) and Mina Deflection (NE) structural trends. The main NW-oriented structural target is mineralized on the nearby higher-elevation, previously held Castle West property, with abundant mercury/antimony and minor gold. This target has not been drill-tested on the favourable lower-elevation erosional level of the Nighthawk property. At the adjoining Boss Mine, gold/silver mineralization is mainly controlled by underexplored NE-trending structures. The intersection of the NW and NE-trending mineralized trends at Nighthawk is also untested by drilling. Prospecting has identified widespread mineralized angular quartz vein float throughout the Nighthawk claims. This mineralization is believed, at least in part, to be locally derived. Outcropping and inferred rhyolite domes at Nighthawk also host gold mineralization from trace to multi-grams gold/tonne. Details of the aeromagnetic targets, structural trends and float sampling can be viewed in the Nighthawk slide presentation on the Company’s website, www.bitterrootresources.com.

Mr. Robert (Rick) Streiff, CPG, is the Qualified Person responsible for this technical disclosure.

About Bitterroot Resources Ltd.

Bitterroot Resources is a mineral exploration company focused on discovering precious metals deposits in Nevada and magmatic nickel-copper in the Upper Peninsula of Michigan. Bitterroot also owns a 10% equity interest in high-grade nickel explorer Perseverance Metals Inc.

C$250,000 PRIVATE PLACEMENT

Bitterroot Resources Ltd. (symbol BTT, TSX-V) plans to issue up to 10,000,000 units in a non-brokered private placement. The units are priced at C$0.025, consisting of one common share and one common share purchase warrant exercisable at C$0.05 for three years. The warrant expiry will be accelerated if the Company’s shares trade over C$0.10 for greater than 20 trading days. The proceeds of the private placement will be used for claim costs at Nighthawk in Nevada, land acquisition activities in Michigan, refinement of drill targets at Nighthawk and for general working capital.  

Subject to TSX-V approval, the securities issued pursuant to the financing will be subject to four-month hold period under applicable securities laws. The Company will pay fees to qualified finders, consisting of 7 percent cash and 7 percent broker warrants. The private placement will be in part a related party transaction. The Company will rely on an exemption from the valuation and shareholder approval requirements of MI 61-101. 

This news release does not constitute an offer or solicitation to sell any of these securities in the United States. The securities will not be registered under the United States Securities Act of 1933, as amended (“the US Securities Act”), or under any State securities laws. The securities may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S Securities Act and applicable State securities laws, unless an exemption from such registration is available.

ON BEHALF OF THE BOARD OF DIRECTORS

Michael S. Carr
Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD LOOKING STATEMENTS: Certain statements contained in this press release may constitute forward-looking statements under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “expects” or “it is expected”, or variations of such words and phrases or statements that certain actions, events or results “will” occur. This document contains statements about expected or anticipated future events and/or financial results that are forward-looking in nature and as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, regulatory processes and actions, technical issues, new legislation, competitive conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events and the company’s ability to execute and implement its future plans. Actual events may differ materially from those projected in the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, except as may be required by applicable securities laws. For such forward-looking statements, we claim the safe harbour for forward-looking statements within the meaning of the Private Securities Legislation Reform Act of 1995.