Western Australian gold explorer BMG Resources Limited (ASX: BMG) (BMG or the Company) is pleased to advise that assay results returned from the recent 10,312m aircore drilling (AC) program have highlighted strong potential for further gold discoveries at the Company's 100% owned Abercromby Gold Project in the Wiluna greenstone belt of WA.

The AC program was completed south of the highly mineralised Capital Prospect in February 2022, testing the significant prospective 5km strike potential between Capital and the previously identified Barrack/Archer prospects to the very south of the Abercromby tenement area.

The AC drilling broadly tested a number of targets generated by the SAM survey completed in December 2021 (refer ASX Release on 9 Dec 2021, Pipeline of Exploration Targets Grows at Abercromby). The SAM survey identified an extensive strike of SAM anomalism trending from the known gold-bearing structures at Capital into areas to the south where little or no drilling had taken place.

A total of 16 highly anomalous (+200ppb Au) results were encountered in 14 separate holes, providing compelling impetus for BMG to expand its work program at Abercromby to include these greenfields areas. BMG Managing Director Bruce McCracken said the significance of the compelling first pass AC results marked what has been a fantastic week of results across the Abercromby Project, following the recent release of highly encouraging diamond drilling intercepts at Capital. 'The AC program has been successful at achieving the strategic aim of generating a pipeline of greenfields targets that we can progress contemporaneously with developing known high-grade gold mineralisation at Capital. 'The coincidence of geochemical and geophysical indicators at these greenfields targets is a delight and reinforces our view of strong prospectivity.

'With large untested distances either side of many of these new gold anomolies, we are encouraged that one or more Capital style deposits could easily be hiding in close proximity. 'We look forward to investigating these intercepts further in our next work program.'

Discussion of significant intercepts

The AC program tested targets generated from the SAM surveys which identified several high priority structural settings, including at the Barrack and Archer targets where gold mineralisation has been previously intersected with little follow-up drilling. The nature of the AC drilling - being 80m spaced holes on traverses often spaced 150 to 200m apart - together with the very limited previous drilling of 120m spaced holes with similar traverse spacing, means that the drill testing to date is still very broadly spaced. The anomalous gold intercepts returned from the drilling are therefore very significant and likely to be indicative of the potential for further gold mineralisation in the area.

About the Abercromby Project

The Abercromby Project is located on the Wiluna Greenstone Belt, one of Western Australia's most significant gold-producing regions with a gold endowment of +40Moz Au - second only to Kalgoorlie globally in terms of historic production. The geology at Abercromby is very favourable for gold mineralisation, with historic drilling at Abercromby having intersected multiple thick intervals of high-grade gold mineralisation to confirm the presence of a large high-grade gold system. BMG holds 100% of Abercromby, which comprises the gold and other mineral rights (ex-uranium) of two granted mining leases (M53/1095 and M53/336).

Contact:

Bruce McCracken

Tel: +61 8 9424 9390

Email: enquiry@bmgl.com.au

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