New Priority Drill Targets Identified at Laverton South Adjacent to New Gold Discovery

• Recent drilling by Kalgoorlie Gold Mining Ltd (KalGold) (ASX: KAL) on an adjoining tenement to E79 Gold’s Laverton South Project highlights a potential emerging gold discovery, called Lighthorse.
• Recently announced drilling results by KalGold have returned thick, shallow zones of gold mineralisation with results including^1,2:
  • 8m @ 2.29g/t Au from 60m (KGAC24045) – located ~40m from the E79 Gold/KalGold tenement boundary; and
  • 17m @ 4.81g/t Au from 48m (KGAC24152) – ~550m from the E79 Gold/KalGold tenement boundary.
• Structural trends, host stratigraphy and drill targets strike towards E79 Gold-owned tenements, where there has been no drilling to date.
• Planning is underway for aircore drilling to drill test the newly identified targets on the E79 Gold tenure late in the March Quarter.

E79 Gold CEO, Ned Summerhayes, said: “The great work done by KalGold to make the greenfields Lighthorse gold discovery is very exciting for E79 Gold, with shallow intercepts of strong gold grades in drilling so close to our tenement boundary and the two main extensions to the mineralisation interpreted by KalGold both trending onto our tenure. There is no drilling on our side of the tenement boundary and, in light of this exciting breakthrough, we will move quickly to drill test these walk-up targets.”

Laverton South Projects

Lake Yindana (100%) and Pinjin (100%)

The Laverton South Project, with an area of 272km², covers a southern portion of the Laverton Tectonic Zone (‘LTZ’) approximately 130km east-northeast of Kalgoorlie, within the major gold producing Archean Yilgarn Craton of Western Australia.

The LTZ is one of the world’s richest gold belts with more than 30 million ounces (‘Moz’) in historical production, reserves and resources and hosts numerous prolific deposits including Granny Smith (5.8Moz), Sunrise Dam (10.3Moz) and Wallaby (11.8Moz)³.

Neighbouring company, Kalgoorlie Gold Mining Ltd (ASX: KAL) (KalGold) has recently released significant assay results from drilling at an emerging greenfields gold discovery called Lighthorse, in a structure parallel to the LTZ.

The discovery sits to the west of KalGold’s Kirgella Gift/Providence deposits (2.34Mt @ 1.0g/t Au for 76,400 ounces⁴) and to the immediate east of E79 Gold’s tenure, see Figure 1).

The discovery holes at Lighthorse are interpreted by KalGold to define a zone of mineralisation up to 600m long and 200m wide under transported cover, which is open both at depth and along strike. This new ‘blind’ discovery sits between 40m and 550m east of E79 Gold’s Pinjin Project.

The main Lighthorse mineralised structure trends north-west into E79 Gold’s tenure, creating the North Target (see Figure 1), which sits in a zone of structural complexity with a structural offset and interpreted demagnetisation evident in the regional aeromagnetic data. There has been no historic drilling over the North Target in E79 Gold’s tenure.

A second cross-cutting mineralised structure strikes south-west, creating the South Target. The regional aeromagnetic data shows this south-west trending zone extending into the E79 Gold tenure, where again there has been no previous drilling in E79 Gold’s tenure.

Both of these targets will be the focus of an upcoming aircore (AC) program at the Laverton South Project, planned for the end of the March Quarter.

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