Reyna Gold Announces Initial Results from Phase 2 Drilling Extending Mineralization At La Republicana Zone Includes 21.1m of 1.09 g/t Gold And 19.90m of 0.96 g/t Gold

VANCOUVER, BC and HONG KONG, CHINA / ACCESSWIRE / July 27, 2023 / Reyna Gold Corp. (TSXV:REYG)(OTCQB:REYGF) ("Reyna" or the "Company") is pleased to announce results from the first 10 drill holes for a total of 1,328 meters (m) of planned 5,500m from Phase 2 drilling at its La Gloria property in Sonora, Mexico.

Highlights:

• Initial successful step-out drill holes at La Republicana Zone around discovery hole LG-22-30 (59m of 1.45 grams per tonne (g/t) Gold). Click to read September 7, 2022 press release.

Drill Highlights include:

• LG-23-39: 21.10m of 1.09 g/t Gold
• LG-23-32: 19.90m of 0.96 g/t Gold & 10.10m of 0.46 g/t Gold
• LG-23-40: 19.05m of 0.76 g/t Gold
• Two initial holes into Western Zone targeting a large Induced Polarization anomaly produced long intersections of anomalies of zinc and molybdenum with high levels of sulfides (pyrite, pyrrhotite, and chalcopyrite) and multiple gold intersections correlated with bismuth, adding to the evidence of potential proximity to a mineralized porphyry system.

"Our understanding of the La Republicana Zone has been greatly advanced, and these initial step-out holes are a great start to this phase 2 drilling, building up a decent sized mineralized zone close to the surface with very economic grade oxide gold," said Reyna Gold CEO Michael Wood. "While the first two holes in Western Zone add to the evidence of a porphyry in close proximity, our strategy at La Gloria is to discover multiple mineralized systems, and the aim of this phase 2 is to show La Republicana, Western, Las Carmelitas, and Main Zone each potentially host such deposits."

La Republicana Zone

The first goal of Phase 2 drilling at La Republicana is to step out from drill hole LG-22-30 and delineate the extent of the disseminated gold system. Eight out of these first ten drill holes for a total of 801m have been targeted towards this goal and have successfully started to delineate a mineralized zone of approximately 200m by 150m around LG-22-30, with a combination of gold-bearing quartz veins and disseminated gold mineralization in meta-rhyolite and meta-andesite.

Further step-out holes have also been drilled; LG-23-35 is the furthest step-out drill hole to date, with results drilled 500m southwest of the LG-22-30. It intersected disseminated gold of 24.00m of 0.36 g/t gold, above the cutoff grade of the oxide gold deposits on the regional trend.

Multiple further step-out holes have been drilled, looking to extend the system to the north, with hole 51 drilled 1.58km Northwest, the furthest step out to date. In total, 17 holes have now been drilled at La Republicana for a total of 1,770m, with more holes planned pending results.