Iceni Hits Spectacular High- Grade Vein At Everleigh

Iceni Gold Limited (ASX: ICL) (Iceni or the Company) is pleased to provide a further exploration update on the Everleigh Well Target Area.

Highlights

• A number of very high-grade rock chip assay results have returned from the outcropping gold bearing vein in the Christmas Gift UFF+ anomaly 14UF010B at Everleigh Well, these include:
  • 18,207g/t Au 18,179g/t Au 16,776g/t Au 16,659g/t Au 14,780g/t Au
• The high-grade vein is located within a cluster of gold prospectivity indicators and is hosted by altered sediments with boxworks after sulphides.
• Fieldwork is ongoing to track the extent of this vein along strike.
• The Everleigh target area will be prepared for future exploration drilling.

“Assay results from the discovery of the second outcropping quartz vein with visible gold in the Everleigh target

area are exciting, as they back up the initial field observations that reported visible gold in outcrop.

The high-grade rock chip results from the vein are supported by the underlying UFF+ soil anomaly, prospectivity indicators (including gold nuggets, workings and anomalous geochemical assays) and the multiple coincident targets generated by existing exploration work.

The Everleigh Well target area continues to deliver in-situ gold bearing rock chips and significant numbers of various sized gold nuggets, where a number of key targets will be prepared for future exploration drilling”.

Figure 1 Specimen from EV-4 with gold from outcropping quartz veining at Everleigh.

Christmas Gift

A second high-grade vein has been discovered at Everleigh within the 14UF010B target. The quartz vein was outcropping and contained abundant visible gold associated with boxworks after sulphides. The vein is associated with a cluster of historic workings and scrapings. Gold assays from this high-grade vein are summarised in Table 1, the peak assay returned 18,207g/t Au.

Prospecting activity has also recovered gold nuggets across the Everleigh Well target area. The nuggets found near the vein are angular and show little or no signs of transport. The presence of significant numbers of gold nuggets at surface supports the UFF+, rock chip and drilling results within these prospects.

The Christmas Gift target at Everleigh Well is a multi-element UFF anomaly (14UF010B), coincident with targets E1 (geological), EW01 (geophysical) and SY43 (syenite target).

Fieldwork is ongoing tracking this second high-grade vein along strike in preparation for future exploration drilling.

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