New Gold Vein System Discovery at Grenadier Prospect

· New in-situ gold vein system discovered during recent surface sampling and trenching programs at the Grenadier Prospect, within the Golden Ridge Project in NE Tasmania

· The gold vein system was discovered by Flynn’s exploration team following up gold-in-soil anomalies with 29 surface float and in-situ rock chip samples returning assay grades including 16.0g/t Au, 13.2g/t Au, 12.0g/t Au and 10.2g/t Au

· Assays from channel sampling of three initial trenches has confirmed in-situ quartz-sulphide veining, with significant mineralised intercepts including:

§ 1.3m @ 6.6g/t Au, including 0.4m @ 17.7g/t Au (Trench 3)

§ 1.0m @ 2.2g/t Au (Trench 2)

§ 6.4m @ 1.3g/t Au, including 2.0m @ 3.0g/t Au (Trench 1)

· Trenching has exposed the vein hosted mineralisation over a 50 metres strike length (open) with follow-up trenching underway testing for strike extensions and parallel vein zones

· Significantly, there is no evidence of historical workings in the area

· These latest results continue to emphasise the increasing scale of the intrusive-related gold system at Golden Ridge, which has been delineated over a total length exceeding 9km