SOURCE: Playfair Mining Ltd.

Playfair Mining Ltd.

November 03, 2016 14:32 ET

Playfair Mining Ltd. Ox Mountain Project: Drilling Update at Cloonacool

VANCOUVER, BC--(Marketwired - November 03, 2016) - Playfair Mining (TSX VENTURE: PLY) is pleased to report that core drilling is progressing well at its Cloonacool Prospect in the Ox Mountains, County Sligo, Ireland.

Six core holes have been completed to date for a total of 526 metres; all six have intersected the gold- bearing quartz vein at Cloonacool; no assays have been received to date.

Results of two lines of chip samples over the outcropping quartz vein at Cloonacool showed 3.38 g/t gold over 1.20 metres comprising 5.58 g/t gold over 50 cm, and 1.80 gpt gold over 70cm. A later 50 cm (apparent width) chip sample across this vein taken by an independent geologist, Thomas Hawkins Ph.D, P.Geo returned values of 17.40 g/t gold and 8.20 g/t silver.

Drillholes are tracing the gold bearing quartz vein at Cloonacool 200 metres northwesterly towards a major East-West geological structure identified by regional geophysical surveys.

At Cabragh, 11 kilometres northeast of Cloonacool, prospecting found gold in several blocks up to 23.9 g/t gold. A further sample of this block taken by an independent geologist, Thomas Hawkins Ph.D, P.Geo returned values of 33.5 g/t gold and 30.8 g/t silver.

Regional geophysical surveys have identified strong northwest-southeast structures near to the Cabragh gold occurrences. Playfair believes these structures are the likely source of the gold bearing blocks and drilling is planned to test this interpretation.

Playfair Mining has entered into an Option Agreement to acquire up to a 100% interest in Bowpark Exploration (Ireland) Ltd. Bowpark is a private company registered in Ireland and holds as its sole asset 3 contiguous prospecting licenses over the Ox Mountains in County Sligo, Ireland.

Richard Parker and Andy Bowden are carrying out and overseeing these approved exploration programs on behalf of Playfair and Bowpark. Both are qualified persons as defined by National Instrument 43-101 and they have reviewed and approved the contents of this News Release. Thomas Hawkins Ph.D, P.Geo is a qualified person as defined by National Instrument 43-101 and he has approved the references to his sampling.

ON BEHALF OF THE BOARD

D. Neil Briggs, Director

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.

Forward-Looking Statements: This Playfair Mining Ltd News Release may contain certain "forward-looking" statements and information relating to Playfair which are based on the beliefs of Playfair management, as well as assumptions made by and information currently available to Playfair management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein.

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