Carnaby Resources Limited announced stunning drill results from the 100% owned Lady Fanny Prospect within the Greater Duchess Copper Gold Project in Mt Isa, Queensland. Results from the first 5 RC holes ever recorded being drilled within the historical Lady Fanny mining lease area, have intersected stunning high-grade copper and high-grade gold results. Significant results include; LFRC009: 27m @ 2.8% Copper, 0.8 g/t Gold from 61m including 9m @ 4.0% Copper, 0.3 g/t Gold from 65m and including 11m @ 3.3% Copper, 1.6 g/t Gold from 77m.

LFRC009 was drilled under the approximately 10m deep Lady Fanny east pit, also intersecting two significant parallel lodes with high-grade copper and gold mineralisation over broad widths and is completely open at depth and appears to link up directly with the high-grade intercept in LFRC012. LFRC013: 20m @ 2.3% Copper, 0.5 g/t Gold from 30m Including 6m @ 5.5% Copper, 1.4 g/t Gold from 38m. LFRC013 was drilled under the approximately 10m deep Lady Fanny west pit intersecting two significant parallel lodes of broad copper and gold mineralisation.

LFRC013 is the northern most hole drilled at Lady Fanny to date and is completely open to the north where extensive undrilled workings and outcropping copper gold mineralisation can be traced for a further 250m before tracking under shallow quartzite outcrop and scree. LFRC012: 17m @ 2.1% Copper, 0.9 g/t Gold from 74m Including 7m @ 4.2% Copper, 2.0 g/t Gold from 77m. LFRC012 was drilled between the high-grade results in LFRC009 to the south and LFRC013 to the north linking broad high-grade copper and gold mineralisation between sections.

The broad intervals of high-grade copper and high-grade gold mineralisation at Lady Fanny is highly encouraging, clearly demonstrating shallow mineable open pit widths and grade. Lady Fanny remains completely open and undrilled to the north of the high-grade result in LFRC013 and to the south results from a further four holes drilled are awaited as well as results from two additional RC holes drilled at the Burke & Wills prospect. The Lady Fanny drill results are located only 3 km north of the high-grade Nil Desperandum discovery of 41m @ 4.1% copper, 0.5g/t gold, which itself is completely open to the southwest, demonstrating how vastly underexplored the >5km long Iron Oxide Copper Gold (IOCG) corridor is and the potential of this corridor to develop into a major new copper gold district.

Carnaby plans to complete a major drill out of the >400m strike of the Lady Fanny lodes and explore for additional strike extensions to the north, where the mineralisation tracks under quartzite scree slope cover, and to the south where the outcropping mineralisation tracks under shallow alluvial cover. Lady Fanny and Burke & Wills prospects will also be targeted with ground Induced Polarisation (IP) surveys to aid with drill targeting in search of large chargeability anomalies that may exist beneath the historical workings.