De Grey Mining Limited reported latest resource extension and infill drilling results from the Diucon deposit at Hemi. Diucon is located in the west of Hemi. The Diucon mineralised intrusion has been intersected over a strike of approximately 560m, depth of 900m and a true thickness of approximately 300m.

Recent drilling has demonstrated that mineralisation extends down plunge for at least 400m to the WSW of the May 2022 mineral resource model and remains open. Deep mineralisation has been intersected in HEDD135 and HEDD136 up to 120 metres west of the May 2022 mineral resource model and 900 metres deep. In addition to broad, moderate grade intercepts, HEDD136 also shows narrow, high grade intersections at a 3g/t Au lower cut, which demonstrate potential for selective high grade underground mining.

Results include: 6.3m @ 3.5g/t from 689.7m, 1m @ 14.1g/t Au from 702m, 0.4m @ 32.9g/t from 756.5m, 0.6 @ 38.6g/t Au from 763.1m, and 1.7m @ 17.6g/t Au from 788m. Also, on section 28480E, HEDD453 intersected 0.3m @ 116g/t Au from 493.1m, around 200m up dip of HEDD136. The mineralised extensions to the May 2022 MRE in recent drilling and the preliminary feasibility study (PFS) pit shell for Diucon is shown in 3D isometric.

Visible gold in smokey quartz veins is associated with many of these high grade intercepts. Shallow mineralisation remains open to the west of the Diucon and Eagle deposits towards Antwerp. Results at Antwerp in aircore (AC) and first pass reverse circulation (RC) drilling are shown in plan.

Drilling results reported in November 2022 from first pass RC drilling at Antwerp included: 25m @ 1.0g/t Au from 78m in HMRC198, 6m @ 4.4g/t Au from 28m in HMRC197, 20m @ 0.7g/t Au from 88m in HMRC193, 6m @ 2.1g/t Au from 43m in HMRC167, 10m @ 1.0g/t Au from 190m in HMRC425. Previously reported results on this trend include: 31m @ 2.1g/t Au from 155m and 19m @ 1.8g/t Au from 192m in HMRC229, 5m @ 5.4g/t Au from 247m and 15m @ 5.5g/t Au from 257m in HERC875 and 4m @ 6.1g/t Au from 230m and 6m @ 5.1g/t Au from 240m in HMRC280. AC drilling around 500m north of this Antwerp trend intersected 2m @ 261g/t Au from 36m in HEAC920 within altered sediments.

An intersection of 3m @ 2.7g/t Au from 57m was returned from hole in HAC349 on the section 160m to the west of HEAC920. In addition, AC drilling around 1.4km south of Antwerp has returned 1m @ 41.6g/t Au from 59m in HAC654 within intrusive. Drill line spacing at Antwerp varies from 160m to 320m and follow up drilling of these results is continuing.

Infill drilling at Diucon to upgrade portions of the current mineral resource from Inferred to Indicated to increase ore reserves for the Hemi definitive feasibility study (DFS) continues to support the resource model. In the eastern part of Diucon, on Section 29000E, shallow mineralisation has been intersected within the resource model and at the base of the PFS pit shell optimisation between 60 and 220 metres below surface in infill hole HEDD132, including: 2.2m @ 2.4g/t Au from 80.2m, 4.6m @ 1.0g/t Au from 87.9m, 2.7m @ 2.4g/t Au from 191.2m and 20.0m @ 1.2g/t Au from 240.0m. Planned drilling on the southern margin of Diucon and at the base of the PFS pit shell optimization has the potential to both expand the mineral resource and extend the open pit shell optimisation to the south and at depth.

In addition to the southern and down plunge extensions outlined above, work will also be carried out to follow up shallow lodes between Diucon and Eagle, all of which have the potential to add to the Diucon mineral resource.