New Gold Vein System Discovery at Grenadier Prospect, Golden Ridge, NE Tasmania

Flynn Gold Limited (ASX: FG1, “Flynn” or “the Company”) is pleased to announce the discovery of significant gold mineralised quartz veining at the new Grenadier Prospect at the Company’s flagship Golden Ridge Project, located in north-east Tasmania (see Figure 1).

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HIGHLIGHTS

• 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
• For further information or to post questions to management, go to the Flynn Gold Investor Hub at: https://investorhub.flynngold.com.au/link/oPBqVr

Managing Director and CEO Neil Marston, commenting on the results, said:

“We are very pleased to report the discovery of gold mineralisation in quartz veins in trenches at our Grenadier prospect, which forms part of our Golden Ridge Project in north-east Tasmania.

“The trenches were excavated to test gold-in-soil anomalies delineated as part of our on-going regional soil sampling campaign. The gold mineralisation at Grenadier is coincident with the granodiorite-metasediment contact zone, which is the same contact that hosts the extensive Brilliant and Trafalgar vein systems located along strike to the east.

“These results continue to demonstrate the increasing scale of the intrusive-related gold system at Golden Ridge, as well as highlighting the effectiveness of soil sampling as a first- pass exploration tool for identifying gold mineralisation in this environment.

“Soil sampling coverage of the Golden Ridge Granodiorite and its contact zones is continuing to expand. Our aim is to generate further gold anomalies to target with follow-up trenching, sampling and drilling as we continue to define the broader extents of this large, high-grade gold system.”

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