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North Stawell Minerals - Quarterly Activities Report


Highlights:

-- Phase I, regional air core drilling has been highly successful, identifying 7 prospects with highly encouraging anomalous gold for follow-up infill Phase II drilling to expand initial results – setting an exciting foundation for future growth.
-- 123 holes (7,156m) completed of a 23,300m+ regional drilling campaign to assess 20 priority targets masked by unmineralized Murray Basin cover. 62 anomalous intercepts were returned during the quarter from 48 air core holes. Results for 88 more holes are pending.
-- Results demonstrate the effectiveness of the exploration strategy - targeting geophysical bedrock anomalies and structures under cover that are interpreted as possible repeats of the multi-million ounce Stawell mineralisation.
-- Drilling has also identified possible graniterelated mineralisation at Wimmera Park, with significant similarities to the historic granite-related Wonga Deposit, 15km to the south.
-- A 27-hole, 2700m RC program in the southern leases is complete. Results are pending.
-- Strong cash position; $6.7M (30 June 2022).

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