Greenstone Resources Limited provided an update on the imminent resumption of exploration activities at the Burbanks Gold Project following the recent discoveries at both Burbanks North and Burbanks South late last year, serving to extend the known mineralised strike horizon to over 3.0 kilometres, as well as the receipt of all remaining assay results from the recently completed drill campaign across the Burbanks Gold Project, 9.0 kilometres South of Coolgardie, Western Australia. The principal focus of the recently completed 4,000 metre exploration campaign was to validate the new exploration model and demonstrate the untested prospectivity of the broader Burbanks Gold Project outside of the central Burbanks Mining Centre, where recorded historic underground production totalled 324,479 ounces, at an average grade of 22.7g/t Au from predominantly the upper 140 metres. These recent exploration programs at both Burbanks North and Burbanks South exceeded all expectations, with significant intercepts including: BSRC0066: 12.0 metres @ 4.51g/t Au from 50.0 metres, including: 1 6.0 metres @ 7.28g/t Au from 54.0 metres; BSRC0065: 4.0 metres @ 7.13g/t Au from 71.0 metres, including: 1; 1.0 metres @ 22.10g/t Au from 72.0 metres; BBDD0025: 3.1 metres @ 11.72g/t Au from 282.4 metres, including:2; 1.1 metres @ 29.48g/t Au from 283.7 metres.

Following from this recent exploration success, the Company has since planned a further 6,500 metre drill campaign across both Burbanks North and the Burbanks Mining Centre which is scheduled to begin in the next 1-2 weeks, following the mobilisation of a multipurpose diamond and Reverse Circulation (RC) drill rig. Outside of the Burbanks Mining Centre, Greenstone controls over 5.0 kilometres of the highly prospective Burbanks Shear Zone which has seen limited exploration below 150 metres, despite hosting known mineralisation, including the Burbanks North Deposit of 359,998 tonnes @ 1.8g/t Au for 20,400 ounces (Inferred). This under explored horizon below 150 metres formed the basis of the recently completed drill campaign at Burbanks North, which has now served to confirm the continuity of high-grade mineralisation beyond the Northern Fault which was previously thought to terminate north of Main Lode.

This recent drilling subsequently opened-up an additional 1.5 kilometres of strike between Main Lode and the northern extents of the shallow Burbanks North deposit, which has historically only been drilled to 100 metres below surface. Importantly, a recent re-interpretation of this previously completed shallow drilling has identified the potential development of three high-grade plunges near surface, directly analogous to those plunges observed within the Burbanks Mining Centre. The forthcoming exploration campaign at Burbanks North will principally target the projected extensions of these recently identified high-grade plunges at depth with 10 holes planned for a total of 3,400 metres.

Significant intercepts from the recently completed drill campaign at Burbanks North include: BBDD0025: 3.1 metres @ 11.72g/t Au from 282.4 metres, including: 1.1 metres @ 29.48g/t Au from 283.7 metres; BBRC337D: 0.40 metres @ 10.40g/t Au from 318.0 metres. The Burbanks Gold Project includes the Burbanks Mining Centre, comprised of both the Birthday Gift and Main Lode underground deposits where recorded historic underground production totalled 324,479 ounces, at an average grade of 22.7g/t Au from predominantly the upper 140 metres. Crucially, mineralisation remains open at shallow depths below the historic mine workings where there has been limited exploration completed below 250 metres, and no exploration completed below 350 metres.

This under explored horizon below 250 metres will form the basis of the forthcoming 3,100 metre extensional and exploration drill campaign targeting extensions to known high-grade plunges at both Birthday Gift and Main Lode outside of the Trial Mining Area, with two pre-collars already drilled late last year to expediate this process. Previously drilled intercepts from within the Burbanks Mining Centre, include: BBUD329: 4.7 metres @ 462.1 g/t Au from 244 metres; BBUD299B: 6.0 metres @ 39.8 g/t Au from 163 metres; and BBUD313: 6.0 metres @ 27.1 g/t Au from 154 metres. The recently completed drill program at Burbanks South served to validate a number of historical drill holes and, importantly, confirm a new near-surface discovery which has never been mined.

The Burbanks South discovery lies 400 metres directly along strike from the Birthday Gift and Main Lode Deposits, in doing so extending the strike of known mineralisation at the Burbanks Gold Project to over 4.5 kilometres. The recent drill campaign, in combination with over 2,500 metres of historical RC drilling, has identified a zone of mineralisation with a strike extent of over 400 metres which remains open in all directions. Importantly, all exploration to date in this area has been limited to the top 100 metres below surface.

Despite the shallow nature of exploration completed to date, the development of three high grade plunges have now been identified, plunges which are a typical feature observed at both the Birthday Gift and Main Lode Deposits. These high-grade plunges will form the focus of future drill campaigns, with planning activities already underway, including the preparation and submission of Program of Work (POW) applications. Significant intercepts from the recently completed drill campaign at Burbanks South include: BSRC0066: 12.0 metres @ 4.51g/t Au from 50.0 metres, including: 6.0 metres @ 7.28g/t Au from 54.0 metres.

BSRC0065: 4.0 metres @ 7.13g/t Au from 71.0 metres, including: 1.0 metres @ 22.10g/t Au from 72.0 metres; BSRC0081: 8.0 metres @ 4.42g/t Au from 52.0 metres, including: 1.0 metres @ 11.70g/t Au from 52.0 metres.