New High-Grade Gold Vein Discovery at Grenadier Prospect

Highlights

• New quartz-sulphide vein (the “G3 Vein”) discovered at Grenadier, the third major mineralised vein identified at the prospect to date, part of the 100% owned Golden Ridge project in NE Tasmania

• Rock-chip assays confirm that the G3 Vein contains high-grade gold mineralisation, including:

• 1 metre @ 11.6g/t Au from a vein outcrop located 60m along strike from Trench 16; and

• Float samples assaying 3.5g/t Au and 2.2g/t Au near the vein exposure in Trench 16

• The new vein may represent a significant increase to potential gold endowment of the system at Grenadier

• A high-grade float sample assaying 17.9g/t Au located 170m south of the G3 vein may represent a potential fourth vein

• Surface trenching and sampling has confirmed the strike continuity of gold mineralisation in veins extending across a 150m wide corridor.

• The area between the G1/G2 veins and the newly discovered G3 vein remains untested, with further trenching planned

• Phase 1 diamond drilling program completed at the Grenadier Prospect, with seven holes drilled for 874.3m – assays pending

• Drilling at the Double Event Prospect to commence shortly