Caldas Gold Shares gain strongly after news release

Caldas Gold Corp. \[CGC-TSXV; ALLXF-OTCQX\] has completed an Updated Mineral Resource Estimate (MRE) for its 100% owned Juby Gold Project, which is compliant with NI 43-101 standards and effective July 14, 2020. The project is located in northeastern Ontario, approximately 15 km west-southwest of Gowganda and 100 km south-southeast of Timmins in the parishes of Tyrrell, Leonard and McMurchy. The property extends 11 km east-west and 9.5 km north-south and covers 5,288 hectares or 13,066 acres within the Shining Tree gold district. Caldas Gold has published a technical report entitled "Updated Mineral Resource Estimate for the Juby Gold Project" on SEDAR and on the Company's website. The technical report was prepared by SGS Geological Services and GeoVector Management Inc. in accordance with NI 43-101 in support of the MRE. Commented Serafino Iacono, Chairman and CEO of Caldas Gold, "The Juby Gold Project is an advanced exploration-stage property located on a major highway with infrastructure access in a historic mining area in Northern Ontario. The Shining Tree gold district is a still Little explored area in the southern portion of the Abitibi Greenstone Belt and we are encouraged by the increased interest and investment in the area, including recent news related to the development of a new mine at the Iamgold Cote gold deposit and the exploration programs being carried out on the adjacent Orefinders and Platinex owned properties Completion of this mineral resource estimate, which has been updated to meet current NI 43-101 requirements and only includes mineral resources within the pit and the results of additional drilling performed by Tahoe Resources in the J Completed in 2018, provides us with a solid foundation on which to build our resource expansion exploration program, which begins with a drilling campaign in 2021. The JMZ-GLZ open pit has indicated resources of 20.2 Mt grading 1.12 g / t gold (728,000 ounces) and inferred resources of 41.5 Mt grading 0.99 g / t gold (1,319,000 ounces) on. The HCLZ and BDZ open pit has an Indicated Resource of 1.1 Mt grading 1.31 g / t gold (45,000 ounces) and Inferred Resources of 5.6 Mt grading 0.93 g / t ( 169,000 ounces). Total Indicated Resources are 21.3 Mt grading 1.13 g / t gold (773,000 ounces) and Inferred Resources are 47.1 Mt grading 0.98 g / t gold (1,488,000 ounces) Ounces). In trading on October 5, Caldas Gold shares rose $ 0.09 to $ 2.51, with 55,100 shares traded.