Bonanza Intercept Of 28m @ 34.81g/T Au At Youanmi South

• The first of a series of holes to test a range of structural trends has returned continuous bonanza grades in RC drilling with;
  • RXRC458: 28m @ 34.81g/t Au from 204m, including;
    • 18m @ 51.96g/t from 207m, including;
    • 10m@ 79.55g/t from 211m, including;
    • 3m @ 138.07g/t from 218m.
• True widths are currently unconstrained, with follow up drilling to commence to determine the orientation and dip direction of this exciting discovery
• Youanmi South is a target area of largely untested mafic volcanic rocks southeast of the Youanmi Main Lode
• Youanmi South is outside the Main Lode corridor, and, importantly adds confidence in the exploration upside through delivery of the first substantial intercept east of the Main Lode
• Recent results from the Midway discovery have highlighted the significance of structural splays off the Youanmi Main lode, which have rapidly become a priority of the current exploration drilling
• Drilling is underway to further constrain controls on mineralisation at Youanmi South, along with drilling at the emerging high-grade Midway discovery

The exceptional drilling results, coupled with the detailed structural information, will provide valuable information to expand these emerging discoveries.

Management Comments

Rox Resources Managing Director, Mr Robert Ryan, said the result from the first hole at Youanmi South is an exciting development regardless of true lode widths, as it opens up a new near-mine area for exploration and potential high-grade resource growth.

“Youanmi South is just 250 metres from the Youanmi main open pit, yet historical drilling was largely restricted to the weathered zone so true geology has been unconstrained. The exceptional grade and continuous high- grade tenor of the intersection in an area previously untested by drilling is cause for cautious optimism whilst we determine orientation of the mineralised zone.

“A core focus of our current exploration program is to test the splay structures off the historically-mined zone structures along the granite margin. The results from Midway, and those reported here on Youanmi South emphasize that Youanmi has the potential to deliver extensive resource growth with quality ounces through near-mine discovery. Our confidence continues to increase that Youanmi is a large-scale, high-grade system that is still in the early stages of understanding and resource evaluation.

“Our team is doing an excellent job in processing all available data, refining our targeting and delivering on efficient execution. We look forward to a steady stream of updates as the drill program continues.”

Youanmi South Exploration Drilling

The Youanmi South area just 250 m from the Youanmi pit is a structurally complex zone south of the granite margin, with recent interpretations from magnetic data highlighting a range of structural trends, including the east-northeast trending Youanmi South Structure. The area has limited shallow historical drilling, which is primarily drilled parallel to the 060-degree trending targeted structure. RXRC458 is the first of a series of holes to test the variety of structural trends that are emerging as important gold hosts.

RXRC458, drilled to the north in order to target more westerly-striking splay structures has intersected a bonanza intercept of:

• 28m @ 34.81g/t Au from 204m, including;
  • 18m @ 51.96g/t from 207m, including;
  • 10m@ 79.55g/t from 211m, including;
  • 3m @ 138.07g/t from 218m

As this is the first deep hole that has looked to intersect more westerly oriented structures drilled across this broader mineralised zone, the OYG is yet to fully understand the true orientation, and significance of this zone. A scissor hole was drilled to constrain this intercept, however the hole was abandoned due to bogged drill rods.

Follow up drilling is planned to constrain the orientation of this high-grade zone.

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