Strong Drill Results Support Development Potential at Apollo Hill Gold Project

Saturn Metals Limited (ASX: STN) (“Saturn” or “the Company”) is pleased to report assay results from ongoing resource development drilling at its flagship 100%-owned Apollo Hill Heap Leach Gold Project, located near Leonora in Western Australia.

HIGHLIGHTS

• Excellent results received from resource-focused Reverse Circulation (RC) drilling completed last year, supporting the development potential at Apollo Hill.
• Thick and higher-grade results include:
  • 53m @ 1.08g/t Au from 128m including 16m @ 3.02g/t Au from 144m – AHRC1022
  • 29m @ 1.69g/t Au from 164m including 5m @ 8.94g/t Au from 187m – AHRC1028
  • 29m @ 1.12g/t Au from 191m including 7m @ 3.03g/t Au from 191m – AHRC1020
  • 21m @ 1.85g/t Au from 203m including 11m @ 3.26g/t Au from 206m; and,
  • 86m @ 0.58g/t Au from 106m – AHRC1116
  • 20m @ 1.13g/t Au from 85m within 27m @ 0.94g/t Au from 78m – AHRC1019
  • 20m @ 2.04g/t Au from 3m within 65m @ 0.77g/t Au from 3m – AHRC1049
• The results highlight the continuity of mineralisation across the deposit, supporting the Company’s heap leach development strategy, whilst also emphasising localised higher-grade opportunities.
• Work is nearing completion on an interim resource upgrade for Apollo Hill, scheduled for early next month. Resource drilling has also re-commenced on site.

The results provide strong support for Saturn’s heap leach development strategy for Apollo Hill, reinforcing the continuity of mineralisation and the robustness of the deposit.

This announcement includes results from 50 drill-holes and 7,042m of assays (Appendix 1) from drilling completed at Apollo Hill last year. Drill-hole details are listed in Appendix 2. All holes reported intersections above the resource cut-off grade.

Figure 1 shows reported intersections on a simplified geological cross-section along with planned drill holes and the 2023 Mineral Resource Block model. Reported drill-hole locations and significant results are illustrated in Plan View in Figure 2.

Saturn’s Managing Director Ian Bamborough said: “These impressive results, as illustrated in Figure 1, show how the Apollo Hill deposit continues to develop. I am pleased with the deposit’s trajectory as we progress with drilling. With work nearing completion on the next interim resource upgrade at Apollo Hill, due next month, these results will feed into a subsequent resource upgrade targeted for Q2 2025, which will in turn underpin the Pre-Feasibility Study scheduled for completion later this year. We look forward to reporting additional rounds of results as we continue with our most comprehensive drill program at Apollo Hill to date.”

Figure 1 – Simplified geological cross-section showing recent results, mineralisation interpretation, Mineral Resource block model and planned RC holes; Section location shown in plan on Figure 2 (A-A1).

Figure 2 – Plan Overview, Apollo Hill RC Holes. Previously reported holes >1 Gram Metre (g/t Au x Metres) with all holes reported in this announcement illustrated. 2023 Apollo Hill Mineral Resource1 Pit Shell Outline seen at 350RL (Average Surface RL); Figure 1 cross-section illustrated as line A-A1 on this diagram.

Assays remain pending from 38 holes and 8,200m, with a further 25,000m of drilling scheduled for the first half of 2025.

Drilling operations have resumed on-site.

As noted above, Saturn is currently working on an interim upgrade of Apollo Hill’s 1.84Moz¹ Mineral Resource (anticipated for release next month) which will include results from 34 holes and 9,402m of extensional focused drilling recently reported to the ASX on 28 October 2024.

These latest results will be utilised in a future resource estimate planned as part of Saturn’s bulk tonnage heap leach PFS, scheduled for completion later this year.

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