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Velocity Receives Positive Metallurgical Results at Rozino Gold Project, Southeast Bulgaria

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Velocity Minerals Ltd reports results of bottle roll and stirred leach tests carried out on various grades of mineralized samples from the Rozino gold project, located in southeast Bulgaria. The test results show gold recoveries up to 92.9%. Test work was completed for Velocity by Wardell Armstrong.

Test results are comparable with historical results where gold recoveries for similar tests were reported up to 93%. In fact, results across the spectrum of grind sizes, grades and the various tests completed are broadly in agreement with historical results, which are described in “National Instrument 43-101 Technical Report for the Rozino Project, Republic of Bulgaria” dated July 26, 2017 and prepared for the Company by Addison Mining Services.

“Prior to optioning the Rozino project, Velocity completed extensive due diligence including review of all historical metallurgical results. While our review of historical metallurgy was positive, there is no substitute for having our own data and we are happy to have received results which strongly corroborate our initial assessment of the project,” stated Keith Henderson, Velocity’s President & CEO. “The agitated leach testing included industry-standard bottle roll and stirred leach tests carried out in Wardell’s UK laboratories to assess potential gold recoveries for heap leach and tank leach processes respectively. Velocity has initiated more detailed metallurgical assessments which will feed into our Preliminary Economic Assessment planned for later this year.”

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“These results confirm that the mineralization at Rozino is very simple with very low sulphide concentrations related almost entirely to iron sulphides. The Rozino mineralization contains low levels of carbon, which is positive for gold recoveries,” stated Stuart Mills, Velocity’s Vice President Exploration. “The results are very encouraging, and we believe that further test work will improve recoveries further. The simple style of mineralization and very low sulphide contents are amenable to the application of modern extraction technologies that should ultimately reduce operating costs and increase the profitability of a potential project.”

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