BMG Resources Limited advised that assay results returned from the most recent aircore drilling program at the Company's 100% owned Abercromby Gold Project, located in the Agnew-Wiluna greenstone belt of WA, have grown existing regional gold anomalies. Planning is underway to define follow-up work programs, including drilling. The results are from regional Aircore drilling completed to the south of the Capital deposit in May and June 2022, following up on prospective positions delineated by BMG's maiden aircore program in February.

The aircore drilling broadly tested a number of targets generated by the SAM survey completed in December 2021. 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 20 highly anomalous (+200ppb Au) results were encountered in 19 separate holes, providing compelling impetus for BMG to expand its work program at Abercromby to include these greenfield areas.

The most recent aircore drilling (59 aircore holes for 5,658m) further tested the new, anomalous areas identified in the previous round of work in the Archer, Barrack and Capital South areas. A number of the higher-grade gold intercepts from the first aircore program were returned in positions with little adjacent drilling, highlighting good potential for significant strike extensions. These included: 4m @ 1.19g/t Au from 16m (22ABAC117) ­ situated within SAM anomalism with direct continuity to mineralisation at Capital, and adds to a series of historic anomalous gold results in the same area which can be traced for around 1.7km.

4m @ 3.58g/t from 52m (22ABAC061) ­ situated in a previously untested position, now interpreted to be the south-eastern extension of the Abercromby shear. This area is open for around 1.4km, some 600m to the north-west, and 800m to the south-east aligning with anomalism defined by other BMG drilled aircore holes nearby to the Archer prospect. 4m @ 1.46g/t Au from 44m (22ABAC014) ­ situated near the Barrack prospect, open for several hundred metres to the north-west, and coincident with SAM anomalism.

The recent aircore program again tested targets generated from the SAM surveys which identified several high priority structural settings, including at the Barrack and Archer prospects where gold mineralisation was previously intersected. The anomalous gold intercepts returned from the current aircore drilling include: 20m @ 0.43g/t Au from 36m (22ABAC145) ­ drilled 40m east of 22ABAC117 (4m @ 1.19g/t Au from 16m), see above, this hole has returned the down dip extension of the latter intersection. Further drilling is required to determine the down dip extent of the mineralisation.

4m @ 1.21g/t Au from 36m (22ABAC153) ­ drilled 40m west of 22ABAC061 (4m @ 3.58g/t from 52m), see above, together with 22ABAC150 (4m @ 0.61g/t Au from 80m) located 160m to the north. These holes further enforce the potential of the Abercromby shear extending to the south. The area to the north of 22ABAC150 remains untested for some 500m.

4m @ 0.99g/t Au (22ABAC168) ­ situated in the area to the west of the Archer Prospect. This intercept further adds to the prospectivity of structural complexity highlighted in the SAM data. Holes 22ABAC169 (4m @ 0.42g/t Au from 52m) and 22ABAC170 (4m @ 0.29g/t Au from 44m) drilled 40m to the south of 22ABAC168 are 80m apart and appear to have straddled the position of the inferred mineralised shear.

The northerly strike position of the inferred mineralised shear remains untested for some 250m both in the north and south strike extension. BMG is now in the process of integrating the geological information with the assay results with the aim of prioritising targets within the key zones highlighted from this and the previous aircore programs (Capital South, Archer and Archer West), together with other with any other areas identified in the review. Additionally, BMG has substantially completed the c.3,800m diamond drilling program at the main Capital deposit, which includes testing of extensions to the south of the main Capital deposit.

Visual observations of drill core are confirming shearing with quartz veining corresponding with the expected lode positions. First assay results are expected in the next few weeks. BMG will provide further updates in due course.