Heavy Minerals Limited announces that its maiden drilling program has been completed at its 100% owned Red Hill Project. The Company has completed a 48 hole, 1815 metre Air Core drill program at its Red Hill Project that was designed to test the Heavy Mineral potential of the project. The Company observed many positive visual results during the drilling program and anticipates receiving assay results in March 2023 with the potential to release a resource in Second Quarter 2023 pending positive results.

Timing for the release of the results from both the Port Gregory and Red Hill drilling programs are subject to laboratory throughput capabilities and HVY interpretation and compilation. The Company decided to complete an additional 23 hole, 726 metre Air Core drill program at its Port Gregory project that was designed to further test the resource extensions to the North, East and South. The decision to add this drilling was based on positive assays and visual results returned from the November-December 2022 infill and extension drilling program.