New High-Grade Gold Discovery at Golden Ridge, NE Tasmania. ​Grades up to 99.4g/t Au Recorded

Flynn Gold Limited (ASX: FG1, “Flynn” or “the Company”) is pleased to announce the discovery of an extensive system of gold bearing quartz veins within historical workings located approximately 250m north of the historic Trafalgar Mine at its 100% owned Golden Ridge Project in Northeast Tasmania (see Figure 1).

Highlights

• New high-grade gold vein zone discovered in trenching 250m north of the Trafalgar mine at the Golden Ridge Project, NE Tasmania where Flynn is currently drilling
• 17 out of 36 grab rock chip samples assayed over 10g/t Au, including 99.4g/t Au, 76.6g/t Au and 67.1g/t Au
• Gold hosted in multiple sub-parallel quartz-sulphide veins over a minimum 65m wide zone
• Assays from initial trench channel sampling include high-grade mineralised intervals:
  • 11.0m @ 2.0g/t Au including 3.3m @ 6.3g/t Au, and
  • 16.5m @ 1.3g/t Au including 1.5m @ 6.8g/t Au and 4.0m @
  • 2.4g/t Au
• The new vein zone discovery significantly expands the gold mineralised footprint at the Trafalgar prospect
• Diamond drilling is underway to test gold mineralisation at depth below the trenching.
• For further information or to post questions go to the Flynn Gold Investor Hub at https://investorhub.flynngold.com.au/link/DP47lr

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

“The company is excited by the discovery of multiple high-grade gold veins approximately 250m north of the main Trafalgar gold deposit at Golden Ridge in Northeast Tasmania. These gold veins were exposed in trenching over an area of historical mine workings which appear unrecorded since they were dug about a century ago.

“The vein system potentially expands the footprint of gold mineralisation at Trafalgar to a 500m wide corridor which remains open in all directions, once again confirming the potential for significant scale at the Golden Ridge Project.”

“With so many high-grade gold assays recorded at the surface we have adjusted our on- going diamond drilling program to test beneath these old workings and we look forward to reporting the results of this drilling shortly.”

Figure 1 - Location of Flynn Gold tenements in NE Tasmania.

Field Mapping and Trenching Program

Following up on recent gold-in-soil anomalies¹ Flynn geologists have discovered an area of previously unmapped historical prospecting trenches, pits and adits which are believed to have been excavated as late as the 1930’s. The main feature of the historical workings is a 240m long North-South trench which was possibly part of a historic water race that exposed the gold bearing veins during its construction. Flynn recently re-excavated part of this historical trench and has added new trenching nearby (Figure 3).

As a result of the trenching work, Flynn has mapped and sampled 19 in-situ quartz- sulphide veins over a width of 65m to date, with initial grab samples collected recording gold grades up to 76.6g/t Au from in-situ outcropping veins (Figure 3).

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