York Harbour Metals Inc. (formerly Phoenix Gold Resources) (TSX-V: YORK) (OTCPK: PGRCF) (Frankfurt: 5DE0) is pleased to provide the assay results from diamond drill hole YH21-18 that showed significant mineralization from the Phase 2 drilling on the York Harbour Copper-Zinc-Silver Project. The Project is located 27 kilometres west of Corner Brook, Newfoundland.

Diamond drill hole YH21-18 was drilled to a length of 164 metres at an orientation of 060^o/-60^o. Its location within the property, relative to the other completed 2021 drill holes, is shown on the accompanying drill plan figure below. Intercept results within drill hole YH21-18 are as follows:

These intervals are drilling lengths, not true widths since the orientation of the mineralization have yet to be established.

On December 15^th, 2021, the Phase 2 diamond drilling program (the “Program”) concluded. The Program included 29 holes totalling 4,562 m of NQ-sized diamond drilling (see accompanying Figure 1).  A total 1,219 drill core samples have been collected from the drill core comprising disseminated to massive sulphide mineralization.  A total of 204 standard, blank and duplicate samples have also been inserted into the sample string for a total of 1,423 samples.  The samples were collected from one-half of the drill core sawn lengthwise between each identified sample interval and they were later shipped to the ISO/IEC-certified assay laboratories of Activation Laboratories Ltd. (‘Actlabs’) in Ancaster, Ontario.  In addition to the 5% inserted quality control samples, the assay laboratory also inserts their own QA/QC samples and, at least, 10% of the final analyzed and/or assayed drill core samples are check-assayed at a different ISO-accredited laboratory.

The results for drill hole YH21-18 are the first results received from the Phase 2 drilling program. The rest of the Phase 2 analytical results are being awaited due to the exceedingly long delays at the assay laboratory. Further drill hole results will be released when received.

Figure 1: Drill Hole Plan of York Harbour’s Phases 1 and 2 diamond drilling. Drill Hole YH21-18 shown in top centre of plan.

 Figure 2: Massive sulphide mineralization from 95.0 to 99.32 m in Drill Hole YH21-18.

 Figure 3: Close-up of massive sulphide mineralization from 95.0 to 95.5 m in Drill Hole YH21-18.

The intersection of massive and semi-massive sulphide mineralization in the Phase 2 drill holes has confirmed both the style of the mineralization and the location and expected grades of the mineralization as documented by historic drill hole information. The mineralization is typical of mafic-hosted volcanogenic massive sulphide similar to the Cyprus-type mineralization type. The results also highlight the potential for broader zones of mineralization extending beyond and between the previously identified mineralization.

Bruce Durham, Executive Chairman of York Harbour Metals commented; “This is an exciting drill hole result early in the Company’s inaugural drill campaign and these high-grade results indicate the presence of a thick interval of typical volcanogenic massive sulphide mineralization VMS that we will work to outline in the coming months. VMS mineralization is rare and the copper and zinc in this mineralization is very valuable, with a high in-situ value even without taking into consideration the value of the accessory minerals. Copper and zinc are currently selling near all-time highs, making this is a great time to be working on defining mineralization that has the commodities an electrified world needs. The fundaments for copper, zinc, silver, and cobalt are very strong going forward. York Harbour’s project has very strong fundaments and we feel this project has the potential to put York Harbour on the Newfoundland mining map”.

QA / QC Comments

The Phase 2 diamond drill core samples were collected from sawn halves of core usually varying from 0.3 to 1.50 m long depending upon geological and mineralogical constraints. Samples were delivered Activation Laboratories (“ActLabs”) in Ancaster, Ontario, an ISO/IEC-accredited laboratory. There they were crushed to a nominal minus 2 mm, split into representative sub-samples and then pulverized to at least 95% minus 105 microns before collecting sub-sample pulps for each of the core samples.

All sub-sample pulps were initially analyzed for 36 elements using ICP QC procedures which included fusing with Na2O2. The fused samples were then dissolved in purified water and acidified with concentrated nitric and hydrochloric acids. The solutions were then measured by an ICP. Samples are analyzed with a minimum of 10 certified reference materials, and every 10th sample was prepared and analyzed in duplicate plus a blank is prepared every 30 samples and analyzed. In addition, a 5 g sub-sample pulp for each core sample was analyzed for gold using fire assay fusion techniques with an atomic absorption finish (‘FA/AA’). On each tray of 42 samples there is two blanks, three sample duplicates and 2 certified reference materials, one high and one low (QC 7 out of 42 samples).

Based upon the initial ICP results, any element returning predetermined over-limit values, specifically for copper, zinc, silver and gold, were automatically assayed using conventional assay procedures. There were no over limit gold values but there were several copper, zinc and silver over- limit ICP results. For each of these samples a 5 g sub-sample was split and assayed using conventional fire assay procedures with an atomic absorption finish (‘FA/AA’).

Qualified Person: Doug Blanchflower, P.Geo., is an independent consultant for the Company and a Qualified Person as defined by National Instrument 43-101 Standards for Disclosure of Mineral Projects, and he has reviewed and approved the scientific and technical information in this news release.

About the Company

York Harbour Metals Inc. is an exploration and development company focused on the York Harbour Copper-Zinc-Silver Project, a mineral property located approximately 27 km from Corner Brook, Newfoundland. The Company plans to continue drilling the 11 known mineralized zones and test other new massive sulphide targets, like the No 4 Brook showing, while focusing on gaining access to the 400-level and Sea Level adits.