Alianza Minerals: magnetic study completed on the Klondike Copper property, Colorado

Vancouver, BC – TheNewswire – May 2nd2022 – Alianza Minerals Ltd. (“Alanza”) (TSXV: ANZ), (OTC: TARSF) and Cloudbreak Discovery Plc (“Cloudbreak”) (LSE: CDL) (there “Alliance”) are pleased to announce that their partner Allied Copper Corp. (“Allied”) (TSX-V: CPR) completed an airborne magnetic survey on the Klondike property (“Klondike”), located in southwestern Colorado, USA. A total of 213 linear kilometers of surveying was completed on the property to help prioritize drill targets for future campaigns. The Klondike property consists of 76 unpatented mining claims, a Colorado state exploration license and an exclusive right to a state lease.

The recently completed survey was conducted using a drone-mounted magnetometer collecting data at line spacings of 50 meters to provide a high-resolution data set to help target drilling to targets of the northeast fault, the west fault and the east fault. Data from the current program is being processed and results will be interpreted to identify potential structures and alterations associated with copper mineralization.

Allied Files Technical Report

Allied Copper recently filed National Instrument (“NI”) Technical Report 43-101 on SEDAR entitled “Technical Report on the Klondike Exploration Project, San Miguel County, Colorado, USA”. The report is available at www.sedar.com or on the Allied website at www.alliedcoppercorp.com.

About Klondike Property

The Klondike property is located approximately 25 kilometers south of Naturita, Colorado. This property is within the Paradox Copperbelt, which includes the Lisbon Valley mining complex. Numerous historic copper occurrences have been identified throughout the district, however, many have not been explored using modern exploration techniques.

A 2021 reconnaissance program including mapping, stream sediment sampling and rock sampling has been undertaken on the Klondike property to help define drill targets at the West Graben Fault and East Graben Fault targets . Rock sampling and mapping successfully extended the footprint of both targets and identified a new target named Northeast Fault. Sampling at the northeast fault returned 1.56% copper and 1.4 grams per tonne (“g/t”) silver in a 4.6 meter chip sample of bleached Jurassic sandstone, bitumen stained and weathered from the Saltwash member of the Morrison formation.

The copper-mineralized sandstones of the Northeast Fault target can be traced along the fault and out of it in the adjacent sandstones over an area 200 meters long by 100 meters wide before d be obscured under a gravel cover. Further anomalous copper, including 2.1 meters of 463 ppm copper, was encountered over a kilometer to the northwest, where the host structure and strata then appear under the same gravel cover.

In the Klondike, documented exploration for copper ceased in the 1960s and further exploration targeting uranium in the 1970s. Previous workers reported high-grade copper mineralization evidenced by results of 6, 3% copper and 23.3 g/t silver in outcrop. In addition to its high-grade potential, disseminated copper-silver mineralization has been observed which may be amenable to modern open pit mining with solvent electrowinning (“SXEW”) processing similar to the mining complex of the Lisbon Valley. Sediment-hosted copper deposits contribute significantly to global copper production, accounting for over 20% of the world’s copper supply each year.

The project is accessible by road year-round, traveling two kilometers of gravel road from the paved highway. The project includes 76 mineral claims on federal mineral rights managed by the BLM, in addition to an exploration license and an exclusive right to a state lease from the State of Colorado.

Figure 1. Klondike Geology and Copper Results Map

About the Strategic Alliance

Under the terms of the Alliance, Cloudbreak Discovery PLC or Alianza Minerals Ltd can submit projects to the Alliance. Projects accepted into the Alliance will be held 50/50 but the financing of the initial acquisition and any preliminary work programs will be financed 40% by the introducing partner and 60% by the other party. Project expenses are determined by a committee made up of two senior executives from each party. Alianza is the operator of Alliance projects unless the Alliance Steering Committee determines, on a case-by-case basis, that Cloudbreak would be a more appropriate operator. The initial term of the Alliance is two years and can be extended for an additional two years.

About Cloudbreak Discovery PLC

Cloudbreak Discovery PLC, is a leading natural resource project generator, working on a wide range of mining assets which are developed and managed by an experienced team with a proven track record. Accretion of value in projects developed by Cloudbreak’s generative model enables a multi-asset approach to investment and exploration. Diversification within the mining sector and among resource classes is essential to withstand natural resource investment cycles.

About Alloyed Copper

Allied Copper Corp., headquartered in Vancouver, British Columbia, is a mining exploration company focused on acquiring and developing prospective, scalable, long-lived copper-gold assets in the western United States. The Company’s strategy is to focus on low cost, high growth potential operations in low risk jurisdictions. Allied Copper’s management is committed to operating efficiently and transparently in all areas of the business.

About Alianza Minerals Ltd.

Alianza uses a discovery-driven business model of joint venture financing and self-funded projects to maximize the chances of exploration success. The Company currently has gold, silver and base metal projects in the Yukon Territory, British Columbia, Colorado, Nevada and Peru. Alianza has an optional project (Tim, Yukon Territory) with Coeur Mining, Inc. and is actively seeking partners on other projects.

Alianza is listed on the TSX Venture Exchange under the symbol “ANZ” and trades on the OTCQB market in the United States under the symbol “TARSF”.

Mr. Jason Weber, P.Geo., President and CEO of Alianza Minerals Ltd. is a qualified person as defined by National Instrument 43-101. Mr. Weber supervised the preparation of the technical information contained in this press release.

For more information, contact:

Jason Weber, President and CEO

Sandrine Lam, Shareholder Communication

Tel: (604) 807-7217

Fax: (888) 889-4874

Renmark Financial Communications Inc.

Scott Logan

This email address is protected from spam. You need JavaScript enabled to view it.

Tel: (416) 644-2020 or (212) 812-7680

www.renmarkfinancial.com

To learn more, visit: www.alianzaminerals.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS ITS TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE RELEVANCE OR ACCURACY OF THIS RELEASE. STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY’S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKING STATEMENTS. THE FORWARD-LOOKING STATEMENTS ARE BASED ON MANY ASSUMPTIONS AND ARE SUBJECT TO ALL RISKS AND UNCERTAINTIES INHERENT IN THE EXPLORATION AND DEVELOPMENT OF THE RESOURCES. ACCORDINGLY, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS.


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