Alianza Minerals Announces Results from Haldane Silver Project, Keno Hill District, Yukon

(TheNewswire)

- Middlecoff Silver Vein extended to South

- Additional drilling planned to south and at depth for Middlecoff

- Phase Two Spring Drill Program to include West Fault and Middlecoff Targets

Vancouver, BC – TheNewswire - February 16, 2021 - Alianza Minerals Ltd. ( TSXV:ANZ ) (OTC:TARSF ) (“ Alianza” or the “Company” ) is pleased to report final results from the Phase One diamond drilling program at the Company’s wholly owned Haldane Silver Project located in the historic Keno Hill Mining District of Yukon Territory. Holes HLD20-20 and HLD20-21 targeted the Middlecoff Vein. HLD20-21 intersected silver mineralization including a core length of 0.89 m averaging 342 g/t silver, 2.35% lead and 1.20% zinc (476 g/t silver-equivalent*) . The 8,579-hectare Haldane Project is located 25 km west of Keno City, Yukon in the western portion of the Keno Hill Mining District. Alianza completed the late season drilling program in early December 2020.

“ The Middlecoff drilling has shown that the structure and mineralization is continuous to the south,” stated Jason Weber, P.Geo., President and CEO of Alianza. “As we learn more at the Middlecoff, it is apparent that the host structure and vein system is productive, and we will continue to explore to the south and at depth for thick, high-grade silver intercepts as we have now seen at West Fault.”

The 2020 program at Middlecoff was designed to follow up a 2019 intersection of 455 g/t silver over 1 metre. HLD20-21 tested the Middlecoff vein 30 m south of the 2019 holes and intersected heavily oxidized and broken fault-vein material with fragments of sulphide vein (galena, sphalerite +/- sulphosalts). The entire vein is approximately 6.75 m in width (3.00 m estimated true width), with 81 g/t Ag, 0.14 g/t Au, 0.40% Pb and 0.41% Zn (120 g/t Ag-Equivalent). The higher-grade portion of the vein was 0.89 m wide (0.40 m estimated true width), averaging 342 g/t silver, 2.35% lead and 1.20% zinc (476 g/t silver-equivalent*), and consisted of grey fault breccia cemented by beige manganese carbonate and orange oxide material. The intersection appears to be bounded on either side by a quartz breccia which may be acting to constrain the vein in this area. HLD20-21 was drilled from the same pad as HLD20-20, which was terminated at 59 metres prior to the target depth due to excessive deviation. Both holes intersected narrow silver-bearing veins in the footwall of the Middlecoff mineralization.

Planning for the Phase Two program is underway. Drilling will focus on the West Fault (8.72 m averaging 311 g/t silver, 0.89% lead, 1.13% zinc – see release dated January 28, 2021) and Middlecoff targets. Management expects the Phase Two program to commence in late April, weather permitting. Details of the program will be released once collar locations and depths are finalized.

2020 Significant Drill Intersections – Middlecoff Target

Analytical values have been rounded.

*Silver-equivalent values are calculated assuming 100% recovery using the formula: ((20 * silver (g/t) / 31.104) + (1650 * gold (g/t) / 31.104) + (0.90 * 2204 * lead %/100) + (1.10 * 2204 * zinc %/100)) *(31.1035 / 20). Metal price assumptions are US$20/oz silver, US$1650/oz gold, US$0.90/lb lead and US$1.10/lb zinc.

Maps and cross-sections can be found below and on the Company’s website at www.alianzaminerals.com/project/haldane/ .

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Figure 1 : Middlecoff Plan View

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Figure 2 : Middlecoff - HLD20-20 and -21 Cross Section – View looking 005⁰, +/- 30 metres

About Alianza Minerals Ltd.

Alianza employs a hybrid business model of joint venture funding and self-funded projects to maximize opportunity for exploration success. The Company currently has gold, silver and base metal projects in Yukon Territory, British Columbia, Nevada and Peru. Alianza currently has one project (Tim, Yukon Territory) optioned out to Coeur Mining, Inc. and is actively seeking partners on other projects.

The Company is listed on the TSX Venture Exchange under the symbol “ANZ” and trades on the OTC market in the US 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 release.

For further information, contact:

NEITHER THE 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. 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. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS.

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