Hillgrove Resources Limited advises that an updated Mineral Resource Estimate ("MRE") has been prepared for the Kavanagh mineralised zones at the Kanmantoo Copper Mine in accordance with The JORC Code 2012 Edition. This resource estimate update includes the results of the 2021 diamond drilling programme at Kavanagh to 30 June 2021, the results of which were reported on 3 May 2021, 6 May 2021 and 24 June 2021. Highlights include: A total Kanmantoo resource tonnage of over 5.6 Mt at 1.1% Cu, 0.33 g/t Au for 62.5kt of Cu metal, an 82% increase in Cu Metal over the previous Kanmantoo MRE. A 55% increase in the total estimated Cu metal in the Kavanagh UG Resources compared to the 2020 Kavanagh MRE (at the same cut-off grade). 72% of the MRE is now classified as Indicated. The updated Kavanagh MRE now covers an area 500m long by 200m wide by 500m deep. The resource estimates are still constrained by the extent of the drilling and not by the geology, in both the along strike and dip directions. The Nugent deposit was drilled in 2020 and an MRE for Nugent was reported in December 20202. The 2020 Nugent MRE has not been updated in 2021 as further drilling is now in progress and an The 2021 Kavanagh Mineral Resource Estimate has significantly enlarged the footprint of the Kavanagh resource area to an area over 500m long by 200m wide by 500 deep below the completed Giant Pit which has been incorporated into an initial assessment of the economic viability of an underground mining operation at Kanmantoo. The 2021 Kavanagh MRE has been estimated by Neil Schofield of FSSI Consultants (Australia) using a Multiple Indicator Kriging (MIK) process to estimate the Cu, Au, and Bi grades of a 3D grid of panels through the Kavanagh mineralised zones below the Giant open pit from the diamond and reverse circulation (RC) drill data. There is no reconciliation of the 2021 Kavanagh MIK panel model, as these deposits have not been mined by underground mining methods by Hillgrove. However, an MIK estimate of the open pit resource has been used by Hillgrove since 2016 to model the mineralisation with great success and gives the Company reasonable assurance that the MIK method is the correct choice for modelling this style of mineralisation. The MIK modelling method has been successfully used for modelling underground copper deposits as early as 1991, for example at the Cobar underground copper mine3.