Aston Minerals : Edleston Gold Exploration Update

ASX ANNOUNCEMENT

11 March 2022

For personal use only

Edleston Gold Exploration Update

Key Highlights

Edleston Main: Confirmation and Extension of a substantial Mineralising System

• Multiple significant drilling results returned including:

1. 3.18m at 29.98g/t Au from 613m (DDED21-044)o 15.58m at 2.57g/t Au from 75.74m (DDED21-015)
2. • Including 2.03m at 11.11g/t Au from 79m o 148m at 0.55g/t Au from 80m (DDED21-016)
   • Including 3m at 9.67g/t Au from 192.5m

1. 3.97m at 5.54g/t Au from 130.17m (DDED21-017)o 101.62m at 0.66g/t Au from 102.86m (DDED21-018)
2. • Including 14.51m at 2.67g/t Au from 108.45m o 80.28m at 0.64g/t Au from 125.5m (DDED21-033)
   • Including 33.45m at 1.1g/t Au from 140.53m o 126.03m at 0.62g/t Au from 48m (DDED21-035)
   • Including 5.73m at 2.69g/t Au from 120.51m o 82.99m at 0.75g/t Au from 187.51m (DDED21-036)
   • Including 27.04m at 1.64g/t Au

• 1. 45.02m at 0.56g/t Au from 358.98m (DDED21-044)
• Mineralisation at Edleston Main extends for a strike length of 700m, average width of 400m and has been tested to a depth below surface of 750m
• Verification of 196 intersections within 92 historical drill holes from 2011 to 2013

Sirola: Rapidly Emerging Discovery

• Multiple significant drill results include:

• 1. 1.41m at 14.7 g/t Au from 233.59m (DDED21-043)o 71.49m at 0.61gt Au From 377.49m (DDED21-043)o 81m at 0.69g/t Au from 156.5m (DDED21-046)
  2. • Including 1.56m at 11.45g/t Au from 166.48m o 2.3m at 8.6g/t Au from 420.2m (DDED21-047)
       o 11.5m at 0.96g/t Au from 471m (DDED21-038)
• Results of 7 of 16 drill holes completed to date returned

Edleston East: 1.5m at 1,356g/t Au from 362m (DDED21-003), further work required to define extent of mineralisation

ASX: ASO

Page 1 of 29 / ACN 144 079 667 / Suite 23, 513 Hay Street, Subiaco, WA [e-mail] / www.astonminerals.com / [phone]

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Figure 1: Numerical Model of Gold Mineralisation Across Edleston Project

Aston Minerals Limited (ASX: ASO, 'Aston Minerals' or 'the Company') is pleased to provide an update on the gold drilling results from Edleston Project, Canada.

Managing Director, Dale Ginn commented "The drilling across Edleston Main has confirmed that there is an extensive body of moderate grade mineralisation and narrower higher-grade domains that justify the estimation of a mineral resource. Once we have received the results for the remaining 12 drill holes we intend to refine the geological model and appoint an independent industry consultancy to estimate a mineral resource.

The Sirola discovery area along strike to the east appears to have four discrete lodes hosting substantial mineralisation. To date we have only received 7 holes out of a total of 15 holes completed. Once we have a better handle on the extent and geometry of mineralisation, we will be evaluating whether systematic resource definition drilling is required.

The substantial intersection of 1.5m at 1,356g/t Au that we encountered Edleston East has proven to be challenging in terms of follow up drilling. The phenomenal grade of this intercept indicates that there is a very substantial amount of localized mineralisation present. The subsequent drilling that we completed in this area did result in numerous low to moderate grade nickel bearing intersections which assisted us in locating the nickel bearing units and discovery at Bardwell that is our current focus. We are aiming to complete follow up drilling on alternative drill orientation with the aim of determining the controls on this high grade domain of mineralisation.

Upon receipt of further results from the gold drilling completed, updates will be provided to the market."

Page 2 of 29 ACN 144 079 667 Suite 23, 513 Hay Street, Subiaco, WA [e-mail] www.astonminerals.com [phone]

Edleston Main Drilling

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Figure 2: Plan View of Drilling Results

Figure 3: Edleston-Sirola Long Section

A total of 30 holes for 11,168.6m of drilling has been completed across Edleston Main by Aston. 12 drill holes are currently pending and will be released to market upon receipt of the results. The drilling completed by Aston aimed to infill gaps in the geological model, extend mineralisation along strike/down dip and replicate previous drilling results for QA/QC purposes.

Page 3 of 29 ACN 144 079 667 Suite 23, 513 Hay Street, Subiaco, WA [e-mail] www.astonminerals.com [phone]

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Significant drilling results returned from the drilling of Edleston Main by Aston include:

• 15.58m at 2.57g/t Au from 75.74m (DDED21-015)o Including 2.03m at 11.11g/t Au from 79m
• 148m at 0.55g/t Au from 80m (DDED21-016)

• 1. Including 3m at 9.67g/t Au from 192.5m
• 3.97m at 5.54g/t Au from 130.17m (DDED21-017)
• 101.62m at 0.66g/t Au from 102.86m (DDED21-018)
• 1. Including 14.51m at 2.67g/t Au from 108.45m
• 80.28m at 0.64g/t Au from 125.5m (DDED21-033)
• 1. Including 33.45m at 1.1g/t Au from 140.53m
• 126.03m at 0.62g/t Au from 48m (DDED21-035)
• 1. Including 5.73m at 2.69g/t Au from 120.51m
• 82.99m at 0.75g/t Au from 187.51m (DDED21-036)
• 1. Including 27.04m at 1.64g/t Au
• 45.02m at 0.56g/t Au from 358.98m (DDED21-044)
• 3.18m at 29.98g/t Au from 613m (DDED21-044)

Figure 4: Edleston Cross Section Looking East

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Drilling conducted by Aston within Edleston Main has confirmed the presence of extensive mineralisation across a considerable width and strike length. From the drilling conducted, it appears that the metasediment units are the bounding features towards mineralisation. To date, a total of 30 holes for 11,168.6m of drilling has been completed across Edleston Main, 12 drill holes completed by Aston still have results pending.

Significant results from verified historical holes include:

	Hole			From		To		Length		Au g/t
	SL-11-08			57		65.5		8.5		1.39
	SL-11-14			32.95		96.5		63.55		0.91
			Inc. 93		96.5		3.5		7.92
				45.25		158.45		113.2		0.71
	SL-11-16			Inc. 93.25		107.45		14.2		2.68
				Inc. 48.55		67.42		18.87		0.60
	SL-11-17			31.1		81		49.9		0.55
			Inc. 52.25		71		18.75		1.0
	SL-11-18			33		48		15		0.86
			83		110.4		27.4		0.56
	SL-11-20			23		77.15		54.15		0.53
				Inc.42.8		60		17.2		0.90
	SL-11-21			22		71		49		0.79
			Inc. 37		48		11		2.54
	SL-11-23			27		31		4		0.62
				63		136		73		0.53
	SL-11-26			Inc. 80		99		19		0.80
				165.2		169		3.8		1.92
	SL-11-28			73		95		22		0.57
				39		40		1		3.19
	SL-11-29			104.1		169		64.9		1.83
			Inc. 105		111.85		6.85		13.15
				Inc. 139.1		159		19.9		0.93
				110.9		117.4		6.5		1.00
	SL-11-30			140		147		7		0.74
				169		173.3		4.3		1.38
	SL-11-32			166.1		170.8		4.7		2.01
				160		220		60		0.75
	SL-11-33			Inc. 170.15		191		20.85		1.21
				323		324.53		1.53		4.21
				39.1		41		1.9		2.23
	SL-11-34			120.7		166		45.3		0.91
			Inc. 142		147.7		5.7		3.25
				279.6		281.35		1.75		3.86
				92		176		84		0.77
	SL-11-35			Inc. 175		176		1		9.36
				Inc. 152.45		154.18		1.73		6.11
	SL-11-36			90.4		157.9		67.5		1.28
			Inc. 100		134		34		2.21

Page 5 of 29 ACN 144 079 667 Suite 23, 513 Hay Street, Subiaco, WA [e-mail] www.astonminerals.com [phone]