Indiana Resources Limited reported that further wide gold intersections have been identified up and down dip from previous drilling at the Minos Prospect within Indiana's 100% owned 5,713 km2 Central Gawler Craton Gold Project in South Australia. Assay results from the RC programme completed in November 2021 at Minos have been received from the seven drillholes completed for a total of 1,258m. This programme was designed to infill the existing drill hole coverage and provide further geological information for inclusion in the proposed resource estimate for Minos.

The results confirm the company's geological interpretation and reinforces that the Lake Labyrinth Shear Zone is a significant gold bearing system. It also confirms that Minos has potential for extension of the known mineralization which remains open along strike in both directions and at depth. Minos Results: Four of the seven drill holes were step-outs to test the down-dip extensions of previously reported mineralization; LLRC060, LLRC061, LLRC063 and LLRC064.

LLRC061 had to be terminated prior to reaching depth due to water issues. The continuity of the mineralization at depth was highlighted by LLRC063. Significant assay results include: LLRC063 - 9m at 2.77g/t Au (186-195m) including 1m at 17.20g/t Au, Two of the holes, LLRC058 and LLRC059 targeted the south-eastern part of the mineralized zone where previous drilling reported 1m at 2.29g/t Au and 9m at 1.01g/t Au.

Results of note from these two holes include: LLRC058 - 4m at 0.74g/t Au and 3m at 1.22g/t Au (38-42m and 60-63m respectively); LLRC059 - 1m at 9.50g/t Au, 3m at 2.08g/t Au and 4m at 1.18g/t Au (131-132m, 151-154m and 164-168 respectively). LLRC062 was completed to test the up-dip extension of mineralization. Significant assay results include: LLRC062 - 11m at 0.80g/t Au and 7m at 3.18g/t Au (41-52m and 54-61 respectively).

An additional hole to further test the up-dip potential has been planned for the upcoming programme. Previous significant results from Minos include: 38m at 6.54 g/t Au from 29m in Hole LLRCD029 including 16m at 13.12 g/t Au from 37m; 21m at 8.43 g/t Au from 176m in Hole LLRC041 including 1m at 159 g/t Au from 185m; 2m at 18.4 g/t Au from 162m in Hole LLRC041 including 1m at 35.6 g/t Au from 163m; 26m at 4.28 g/t Au from 68m in Hole LLRC025 including 3m at 20.21 g/t Au from 82m; 23m at 6.44 g/t Au from 186m in Hole LLRC035 including 1m at 118 g/t Au from 198m; 10m at 8.83 g/t Au from 39m in Hole LLRC042 including 3 m at 26.03 g/t Au from 40m. Mineralization remains open along strike in both directions and at depth.

A drill rig is due to return to Minos in late January to carry out a further RC programme which is currently being finalised. A further announcement will be made in due course on this programme, detailing scope and timing.