Mulga Bill Delivers Exceptional Assays Ahead of Resource Update

Great Boulder Resources (“Great Boulder” or the “Company”) (ASX: GBR) is pleased to provide an update on exploration at the Company’s flagship Side Well Gold Project (“Side Well”) near Meekatharra in Western Australia which hosts a Mineral Resource Estimate (“MRE”) of 668,000oz @ 2.8 g/t Au.

HIGHLIGHTS

• Reverse circulation (RC) at Mulga Bill has intersected more extremely high gold grades, extending the resource and adding thickness and grade to existing lodes
• Highlights include:
  • 5m @ 43.13/t Au from 185m, including 2m @ 102.80/t Au from 186m in 24MBRC028
  • 5m @ 40.61g/t Au from 256m, including 1m @ 194.50g/t Au from 258m in 24MBRC030
  • 6m @ 20.52g/t Au from 179m, including 2m @ 57.10g/t Au from 179m in 24MBRC027
  • 5m @ 16.93g/t Au from 91m, including 2m @ 39.70g/t Au from 92m in 24MBRC023
• Maiden AC drilling to commence imminently on the high priority Side Well South Prospect

Great Boulder’s Managing Director, Andrew Paterson commented:

“These are sensational new intersections at Mulga Bill. The holes were designed to add definition within areas of inferred resource and they have done so in emphatic style, with intersections that are both thicker and higher grade than previously estimated.”

“Equally impressive is the deep result in hole 24MBRC030 which is well outside the resource, down- dip and further north than previous drilling in that area.”

“After several rounds of drilling at Mulga Bill the high-grade lode positions fit our interpretation perfectly, which means we have very high confidence in the validity of this resource model. The drilling has added high-grade intersections up-dip from previous holes on several sections within the resource, which should add gold ounces closer to surface than the current estimate. This will be important for potential mine economics when we start scoping studies.”

Nine RC holes were drilled at Mulga Bill for a total of 1,587m. The program was designed to test poorly defined areas around the edges of the Mulga Bill high-grade vein positions as part of the process to upgrade less-drilled parts of the resource from inferred to indicated category. Highlights from the drilling include:

• 5m @ 43.13g/t Au from 185m, including 2m @ 102.80g/t Au from 186m in 24MBRC028.
  • This sits within a Cervelo Lode vein, up-dip to the east from previous drilling.
• 5m @ 40.61g/t Au from 256m, including 1m @ 194.50g/t from 258m in 24MBRC030.
  • This HGV lode was previously insufficiently drilled to be classified in the resource; it will now be added to the resource estimate and extends the Cervelo Lodes by approximately 30m to the north.
• 6m @ 20.52g/t Au from 179m, including 2m @ 57.10g/t Au from 179m in 24MBRC027.
  • This sits within a Cervelo Lode vein, up-dip to the east from previous drilling.
• 5m @ 16.93g/t Au from 91m, including 2m @ 39.70g/t Au from 92m in 24MBRCD023.
  • This sits within a Cervelo Lode vein, up-dip to the east from previous drilling. The intersection contains supergene mineralisation.
• 10m @ 7.92g/t Au from 82m, including 4m @ 18.83g/t Au from 85m in 24MBRC022.
  • This sits within a Cervelo Lode vein, up-dip to the east from previous drilling. The intersection also contains supergene mineralisation.
• 2m @ 6.18g/t Au from 90m in 24MBRC025.

Figure 1: Mulga Bill long section looking west

The mineralised wireframes at Mulga Bill will be updated and extended to incorporate the new intersections in preparation for a resource update which will be completed towards the end of the year.

Figure 2: Plan view of the north end of Mulga Bill

Next Steps

The RC rig is currently drilling the final resource definition RC holes at Mulga Bill, after which reconnaissance AC drilling will commence on exciting new targets at Side Well South.

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