Alicanto Minerals (ASX: AQI) is pleased to advise that drilling and rock-chips have continued to extend the known mineralisation within its polymetallic Sala silver-zinc-lead-copper-gold project in Sweden.

Alicanto Managing Director Peter George said the latest results further highlighted the immense potential to establish a project with genuine scale. 'These results support our strategy to build a substantial resource at Sala with the potential to underpin a stand-alone operation,' Mr George said. 'We are well funded for 2022 with our recent $7m capital raising and we continue to grow the boundaries of the known mineralisation at Sala. The mineralisation remains open and we have three rigs drilling now.'

Details of Results

The diamond drill holes SAL21-07 to SAL2-13 have intersected multiple zones of mineralisation with sphalerite, galena and silver in various amounts. The drillholes were drilled perpendicular to the main stratabound mineralisation dipping 50 degrees towards the west. Primary replacement skarn hosted by breccia-style structures are thought to give bonanza grades and widths in a different direction along that plate.

Updated Geological Review

Recently published academic research has outlined several stratabound medial magnetite-serpentine horizons in Sala closely associated with Zn-Pb-Ag mineralisation. The magnetite-serpentine represents targeting vectors for stratabound sphalerite dominated mineralisation and has a magnetic signature detectable with modern geophysical equipment from surface and air. Several branches of stratabound sulphide mineralised magnetite-serpentine horizons have been identified, interpreted to each represent different stratigraphic levels of the limestone sequence. Classic Sala galena-silver dominated mineralisation is strongly structurally controlled and crosscuts the stratabound type. Locally the silver-rich mineralisation has a low content of sulphides, with silver occurring in sulphosalts. A third mineralisation style represents more intrusion-proximal massive pyroxene with strong sphalerite mineralisation. This has only been identified at the Glas workings in the southern part of the system and represent a highly attractive exploration target for future work. In addition, newly published material by the government's geological survey covers all known sulphide showings in Sala Region, with published rock chip assay results further supporting the exploration potential elsewhere from Prince Lode

About Alicanto Minerals

Alicanto Minerals (ASX: AQI) is pursuing aggressive exploration campaigns in Sweden's highly-regarded mining region of Bergslagen. The first of these is targeting extensions of the historic Sala silver-zinc-lead deposit and the second involves greenfields exploration around the Greater Falun copper-gold and polymetallic skarn project. The Company is highly leveraged to exploration success and puts a strong emphasis on ensuring that drilling and news flow is ongoing. This approach underpins its strategy of creating shareholder value by discovering, growing and developing precious and base metal resources in the tier-one location of Sweden. The strategy is driven by a Board and Management team comprising a broad range of expertise, including extensive technical, operational, financial and commercial skills as well as experience in mining exploration, strategy, venture capital, acquisitions and corporate finance

Contact:

Paul Armstrong

Tel: +61 8 9388 1474

Forward Looking Statements

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors constitute, among others, continued funding, general business, economic, competitive, political and social uncertainties; the actual results of exploration activities; changes in project parameters as exploration strategies continue to be refined; renewal of mineral concessions; accidents, labour disputes, contract and agreement disputes, and other sovereign risks related to changes in government policy; changes in policy in application of mining code; political instability; as well as those factors discussed in the section entitled 'Risk Factors' in the Company's rights issue prospectus. The Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, however there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

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