Vancouver, British Columbia--(Newsfile Corp. - June 1, 2023) - Doubleview Gold Corp. (TSXV: DBG) (OTCQB: DBLVF) (FSE: A1W038) (the "Company or "Doubleview") is pleased to announce assay results of Hat Project drill holes H045, H046, H047, H048, H050 and H051. Drill hole H050 intersected the strongest Cobalt mineralization yet with 2240g/t over 3 meters. Drill hole H045 intersected one of the longest and strongest sections of mineralization reported in this news release with 459m at 0.91% CuEq.

The Hat Project is a large alkalic copper-gold porphyry-type deposit located in northwestern British Columbia that since 2011 has been explored by Doubleview utilizing technical surveys and diamond drilling operations. Hat Property surveys and drilling have been largely directed to the Lisle copper-gold-cobalt-scandium mineral zone. Principal minerals are chalcopyrite, pyrite and magnetite hosted in volcaniclastic and gabbroic formations. The Lisle Zone has indicated dimensions of approximately 2.7 km by 1.7 km and is still being delimited laterally and at depth.

Drill holes reported in this news release were positioned as follows:

H045 and H046 expanded the West Lisle area, H047 extended an area of strong mineralization north-northeast of the Main Lisle Zone that was discovered by drilling in 2022 and holes H049, H050 and H051 added significantly to the west side of the Main Lisle Zone. Assay data are included in Table 1. Assays are summarized as follows:

North-Northeast of Lisle Zone:

• Drill hole H047 intercepted 343.6 meters* with 0.91% Cu Equivalent** from surface, including 120.9 meters with 1.05% CuEq.

West of the Lisle Zone:

• Drill hole H045: intercepted 459.0 meters with 0.92% Cu Eq from 28m depth, including 127.0 meters with 0.98% Cu Eq.
  
  
• Drill hole H046: intercepted 315.1 meters with 0.81% Cu Eq from 66m depth, including 141.0 meters with 0.97% Cu Eq.

Main-west of the Lisle Zone:

• Drill hole H049: Assays pending.
  
  
• Drill hole H050: intercepted 290.1 meters with 1.03% Cu Eq from near surface, including 207.6 meters with 1.08% Cu Eq.
  
  
• Drill hole H051: intercepted 313.4 meters with 0.96% Cu Eq from near surface, including 44.8 meters with 1.30% Cu Eq.

Note: (*) Drill hole intercepts are presented as drilled. The company does not have sufficient information to provide true deposit dimensions.

Significant intercepts are presented in Table 1 and discussed below. Drill hole locations and sections are shown in Figures 1, 2, 3 and 4 and coordinates and other location details are presented in Table 2.

Farshad Shirvani, Doubleview's president and CEO, comments that "Recent drilling exploration has shown continuity and strength of mineralization in the Lisle deposit, although boundaries in all directions are not yet known. The year 2023 is crucial for the development of the Hat project, as it involves metallurgical studies and the maiden resource estimation, which will provide insights into the significance of this deposit. I am delighted that we have one of the largest and potentially viable Scandium and Copper deposits in the Western Hemisphere."

TABLE 1. Assay results

Notes:

- Metal equivalents should not be relied upon for future evaluations.

- Drill hole intercepts included in this news release are core lengths that may or may not be true widths of mineralization. It is not possible to determine true widths.

**Copper Equivalent (CuEq%) is estimated using the following metal values and equations:

- *CuEq(%) =(Ag(g/t) x Price_Ag x Rec_Ag/31.1035 + Au(g/t) x Price_Au x Rec_Au/31.1035 + Co(%) x Price_Co x Rec_Co x 22.0462 + Cu(%)x Price_Cu x Rec_Cu x 22.0462 + Sc(g/t) x Price_Sc x Rec_Sc x Sc_con) / (Price_Cu x 22.0462)

- Price_Ag = $22.20/troy oz, Price_Au=$1,812.14/ troy oz, Price_Co = $23.30/lb, Price_Cu = $3.84/lb, Price_Sc

TABLE 2. Drill Hole Data

Quality Assurance and Quality Control:

Core samples were prepared at the North Vancouver facility of ALS Canada Ltd. using their PREP-31, PGM-ICP24, ME-MS61, and ME-ICP06 packages. Each core sample is dried, then crushed to 70% passing a 2mm screen. All material is processed in an automatic Riffle splitter to yield a 250g homogenized, representative sample. This sub-sample is then pulverized to 85% passing a 75-micron screen. All samples are analyzed for Au, Pt, Pd by 50g fire-assay fusion/ICP-ES finish, using PGM-ICP24 package. A separate 0.25g pulp split is analyzed by Four Acid digestion/ICP-MS finish, reporting 48 elements. Over limit elements are analyzed by Ore Grade Four Acid digestion/ICP-ES finish using ME-OG62 assay package. All of Doubleview's core samples are analyzed or assayed at independent ISO 17025 and ISO 9001- certified laboratories.

The following map and sections show the location of the reported drill holes.

Figure 1. Drill PLAN MAP

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https://images.newsfilecorp.com/files/8003/168327_57d8eee8c4f4c907_001full.jpg

Figure 2. Section A - A'

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Figure 3. Section B - B'

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Figure 4: Section C - C'

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https://images.newsfilecorp.com/files/8003/168327_57d8eee8c4f4c907_004full.jpg

Doubleview maintains a website at www.doubleview.ca which is under construction at the moment.

Qualified Persons:

Erik Ostensoe, P. Geo., a consulting geologist, and Doubleview's Qualified Person with respect to the Hat Project as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed, and approved the technical contents of this news release. He is not independent of Doubleview as he is a shareholder in the company.

Cautionary Note: Although a mineral resource estimation is currently being prepared by an independent engineering firm, no mineral resources have been estimated at the Hat Property and there is no assurance that further work will result in the Lisle Zone, or other zones if present, being classified as mineral resources.

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 (TSXV: DBG), (OTCQB: DBLVF), (GER: A1W038), (FSE: 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 risks.

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
E: corporate@doubleview.ca

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 RELEASE.

Certain of the statements made and information contained herein may constitute "forward-looking information." In particular references to the private placement and future work programs or expectations on the quality or results of such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks that we may not be currently aware of. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/168327