Carnavale Resources Ltd. provided an update to its exploration activities. CAV has completed a third aircore program at the Ora Banda South Gold Project following up on high grade gold in the regolith at the Carnage and Highlander Prospects. Aircore program completed at Ora Banda South Gold Project.

CAV has completed a third program of 105 aircore holes for 8,885m following up strong gold grades intercepted at the Highlander and Carnage prospects in previous aircore programs conducted by CAV. The previous aircore had significant shallow bedrock gold results that confirmed a gold bearing system with a strike length of 15km. Significant results from previous CAV aircore drilling at Ora Banda South include: 4m @ 8.82g/t from 40m in OBAC022; 8m @ 2.74g/t from 48m; hole OBAC089 (inc.4m @ 5.10g/t from 52m); 4m @ 2.69g/t from 36m in OBAC306; 4m @ 2.49g/t from 48m in OBAC175; 8m @ 0.58g/t from 32m in OBAC295; 4m @ 0.97g/t from 36m in OBAC310.

Follow up aircore has targeted two high priority gold targets. Carnage Prospect - 2.5km strike and up to 500m wide and remains open. Highlander Prospect - 2km strike and up to 400m wide also remains open.

Analogous geological setting target to the +2.5Moz @ +4g/t Invincible Gold Mine, discovered by Gold Fields Limited near Kambalda in 2012. Previous aircore drilling at the Ora Banda South Gold Project tested targets identified by CAV's soil sampling program, previous aircore gold anomalies and structural targets under alluvial cover. CAV's complete aircore drilling program has confirmed the prospective Carnage Shear occurs along the 15km long tenement package and shows anomalous gold, arsenic, bismuth and lead.

Three new gold prospects have been identified in CAV's aircore drilling that contain high-grade gold intercepts. Previous CAV aircore has been drilled on wide spaced lines, 360m apart, across the new gold prospects with holes drilled on 40m to 80m drill centres. Results received from this earlier drilling, outlined significant gold mineralisation in the regolith geochemistry and gained improved understanding of the geology and structure, the depth of transported material as well as the depth of weathering within the regolith profile across the tenement package.

CAV's previous aircore drilling programs have successfully confirmed the scale of the anomalies and provided additional resolution to these new gold Prospects, nothing that previous drilling was very wide spaced and considered reconnaissance geochemical drilling. The current program of aircore drilling was planned to close up the drill spacing at the local prospects targeting the geochemical footprint of concealed gold mineralisation in the regolith. The geology of the Carnage prospect is dominated by a sequence of sedimentary rocks crosscut by the Carnage Shear.

The area is overlain with a layer of transported material that is up to 40m in places. The transported cover has prevented any surface sampling such as soils or auger sampling from being effective at detecting concealed gold anomalism in earlier exploration. CAV reviewed the structural information from the aero magnetics and extrapolated the gold in soil anomalism which suggested there could be concealed gold targets beneath the transported cover.

The Carnage Prospect has a confirmed gold anomaly that is up to 500 m wide and 2.5km long within the sediment package along the Carnage shear that is open to the northeast south and southwest. The mineralisation at Carnage is interpreted to be orientated North- East along the Carnage Shear and is modified to have a more North-South trend by the geology. The strike extent of this prospect is over 2.5km and is open along both strike trends.