Ballymore Resources Limited announced that the final assay results have been received for the Stage 1 drilling program at the Company's Ruddygore Copper Project, located near Chillagoe in North Queensland. Further significant results have been reported from the Ruddygore Project area, including 19m @ 0.41% Cu and 12.5 g/t Ag in drill hole BRURC004 from 1m depth and 3m @ 0.81% Cu and 18.8 g/t Ag in drill hole BRURC006 from 1m depth. Results for Ballymore drill holes BRURD002 and BRURC004 along with historic holes have demonstrated significant shallow copper intersections, north of the historic workings and highlight the potential for a shallow copper deposit north of the mine.

Results have also been received from the diamond tail for BRURD002 and has reported a deeper intersection of 12m @ 0.30% Cu and 4 g/t Ag from 192m including 3m @ 0.92% Cu and 8 g/t Ag from 199m, highlighting the potential for a down-plunge extension to shallow mineralisation. The Ruddygore prospect represents a bulk tonnage porphyry copper target. The Ruddygore Mine was mined from 1896 to 1909 and hosts extensive pits and shafts.

Mapping and soil sampling by Ballymore defined a large geochemical and alteration system in this area. Historically, only 26 shallow drill holes have been completed in the area for 1,631m, with most holes being less than 50m deep, and all of these holes drilled prior to 1990. Historic drilling has reported a number of significant shallow drill intersections including: · Ruddygore No.

1: 11 m @ 1.3% Cu (7.6 - 18.6m) · RAT-15: 24 m @ 1.1% Cu (0 - 24 m) including 4 m @ 3.2% Cu (12 - 16m) An initial drilling program was completed by Ballymore to test around the mine environs and comprised 6 reverse circulation /diamond drill holes for 1,799.9m. Drill holes in the current program targeted zones of mapped mineralisation with associated elevated soil and rock chip sample results as well as IP anomalies. Drilling has intersected several broad zones of moderate sulphide mineralisation, including a number of more discrete intervals of higher grade copper mineralisation.

First results were reported for drill holes BRUDD001 and BRURD002 in July. BRURD002 encountered extensive sericite-chlorite alteration associated with quartz-sulphide veins. Significant mineralisation was noted at 4 - 90m in the RC pre-collar and at 192- 204m in the diamond tail.

Assay results for the RC pre-collar for BRURD002 reported broad intersections including 86m @ 0.47% Cu and 11 g/t Ag from 4m depth with a number of higher grade intervals including 14m @ 0.90% Cu & 21 g/t Ag from 22m and 17m @ 0.76% Cu & 16 g/t Ag from 58m. Further assay results have now been received and highlighted further shallow copper intersections immediately north of the historic mine workings at Ruddygore. Mineralisation is associated with vein- and breccia hosted chalcopyrite +/- sphalerite mineralisation.

Significant intersections include 19m @ 0.41% Cu and 12.5 g/t Ag in drill hole BRURC004 from 1m depth and 3m @ 0.81% Cu and 18.8 g/t Ag in drill hole BRURC006 from 1m depth. Drilling has defined two mineralised corridors that correspond with the historic Main and No. 2 Pits and strike north-northwest.

Results of limited historic drill holes (i.e. Ruddygore No. 1, RAT-12, 13, 14, 15) and holes in the Ballymore Stage 1 program (i.e. BRURD002, BRURC004) completed north of the mine have all reported significant shallow copper mineralisation and a more extensive drilling program is being planned to test this zone, which remains open to the north. Following the initial drilling results reported in July 2022, Ballymore undertook a technical review of the greater Ruddygore prospect area.

The Stage 1 drilling program focussed on testing geochemical and geophysical targets in proximity to the main historic workings associated with the Ruddygore copper mine. Results of the Stage 1 drilling program have highlighted the potential for this area to host a significant shallow copper deposit that extends north of the historic workings and the latest assay results further support this interpretation. Exploration activities undertaken by Ballymore have previously recognised that the Ruddygore Mine forms part of a far larger system and sits within a large, annular, alteration system and associated polymetallic copper-lead-zinc +/- silver-arsenic-bismuth-tin soil anomaly over an area of 2.8 km x 1.9 km.

The IP survey completed in October 2021also highlighted a significant chargeable anomaly that coincides with this large target. A number of other targets have been recognised in the area that warrant drilling. The Black Cockatoo prospect hosts substantial historic copper workings on an east-northeast trending shear zone with an associated strong, 700m x 400m +500ppm Cu-in-soil anomaly and also elevated rock chip results up to 15.4% Cu and 0.685 g/t Au and 134 g/t Ag (RUD082).

This target has never been drill tested. In addition, the Ruddygore Far East prospect is located 1.5km east of Ruddygore and is associated with a significant copper-lead-zinc soil anomaly with a coincident 1,000m x 300m, strong, +30mV/V chargeability anomaly. This represents the strongest IP anomaly in the area and coincides with a mapped northeast-trending fault zone.

The IP response is considered to be associated with sulphides and remains untested by drilling to date. The Ruddygore Project is located adjacent to the regional centre of Chillagoe in North Queensland. It consists of four granted EPMs including EPM 14015, EPM 15047 and EPM 15053 as well as the recently granted EPM 27840, and covers an area of 558 km2.