Exploration work confirms Steam Engine’s large-scale potential; 5,000m extension to drill program commencing immediately

HIGHLIGHTS:

First hole at Steam Engine Lode confirms lode thickening significantly down-dip with impressive assay results:
- 10m @ 2.8 g/t Au from 58m (SRC105)
  - incl 1m @ 19.7 g/t Au from 58m
  - incl 4m @ 5.9 g/t Au from 58m

Above intersection located within a broader zone of:

Significantly increased thicknesses of mineralised zones visually observed in several other holes provide early indication of potentially larger than expected high grade ore shoot system. In response, Steam Engine Lode program extended by a further 5,000m to target down-dip extensions of high grade mineralisation
Results from maiden drilling program of 13 holes at Dinner Creek return best intersection of:
- 2m @ 2.1 g/t Au from 33m (SRC109)
Dinner Creek drilling confirms the presence of a large mineralisation system likely related to the Steam Engine and Eastern Ridge lodes. Extensive zones of gold mineralisation were not intersected in the first line of 100m-spaced holes. Mineralisation appears to be controlled by favourable host rock lithology – potential targeting tool to identify more extensive mineralisation down-dip
Recent geological mapping together with historic soil sampling indicate the likely presence of previously unknown gold lodes under thin cover to the west and south of the Steam Engine Lode
Detailed ground magnetometer survey to commence over Steam Engine Project area, including anomalous areas to the west to identify lode structures near surface and at depth
70 RC holes have been drilled for a total of 5,114m from initial 8,000m Greenvale drilling campaign – all initially-planned Steam Engine Project holes completed.