Meeka Gold : 33% Increase to Landholding in Emerging Rare Earths Province

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ASX Announcement

2 June 2022

33% Increase to Landholding in Emerging

Rare Earths Province

• 33% increase in landholding at Circle Valley (MEK 100%) following the grant of Exploration License E63/2214
• Area encapsulates the northern extension of the clay hosted rare earth horizon where shallow, thick, high-gradeintersections include:

1. 12 metres at 715ppm TREO (40% Magnet REO) from 8 metres including

4 metres at 1,269ppm TREO (22CVAC030)

1. 36 metres at 672ppm TREO (32% Magnet REO) from 12 metres including

16 metres at 1,098ppm TREO (22CVAC031)

1. 5 metres at 1,040ppm TREO (30% Magnet REO) from 36 metres including 4 metres at 1,177ppm TREO (CVAC023)

• 1. 36 metres at 672ppm TREO (34% Magnet REO) from 28 metres including 12 metres at 1,003ppm TREO (CVAC017)
• The tenure also covers the highly prospective Cascade and Bishops Hat
  Shear Zones - targets for Tropicana style gold mineralisation
• Significant gold intersections at Circle Valley include:
• 1. 23m @ 5.09g/t Au from 13m including 10m @ 9.35g/t Au (22CVRC001)

1. 16m @ 3.06g/t Au from 32m including 4m @ 10.80g/t Au (22CVRC009)

1. 10m @ 4.72g/t Au from 120m including 4m @ 10.20g/t Au (22CVRC008) - hole ends in mineralisation

Commenting on this, Managing Director Tim Davidson said: "We have significantly expanded Circle Valley by securing the interpreted extension of the saprolite clay horizon to the north. This clay horizon is prospective for high-grade rare earths. Importantly, the new tenure also covers two regional shear zones on the margin of the Yilgarn, both highly prospective for Tropicana style gold mineralisation.

In addition to expanding Circle Valley, work continues to advance at an uncompromising pace and we anticipate reporting 16,000m of rare earth assays over the coming two months. We also expect to receive gold assays by mid-June 2022 from Anomaly A where drilling tested strike extensions to the broad zones of high-grade gold mineralisation.

Finally, ANSTO has informed us that the rare earth metallurgical test work is progressing to schedule with results expected in late July 2022."

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Meeka Gold Limited (ASX:MEK) ("Meeka" or "the Company") is pleased to announce the Company has grown its landholding at Circle Valley by 33% with the granting of E63/2214. Circle Valley hosts shallow, high-grade rare earth mineralisation, up to 36m thick, within the saprolitic clays (Figure 1). In addition to rare earth prospectivity, the new tenure covers two major regional shear zones on the margin of the Yilgarn Craton, both highly prospective for Tropicana style gold mineralisation.

Figure 1: Meeka's 100% owned Circle Valley Project (222km2) showing new tenure, existing drill holes and interpreted northern extension of the saprolite clay horizon. Note the significant number of drill holes with pending rare earth assays (approximately 16,000m of drilling).

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Figure 2: Location of new tenure covering the highly prospective Cascade and Bishops Hat Shear Zones - targets for Tropicana style gold mineralisation.

Figure 3: Cascade and Circle Valley Projects, both within the Albany-Fraser Province.

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Rare Earths at Circle Valley

Drilling completed by the Company at Circle Valley has intersected significant accumulations of regolith clay hosted rare earth mineralisation, including:

• 1m @ 1,521ppm TREO within 4m @ 993ppm TREO from 20m (CVAC035)
• 4m @ 1,269ppm TREO within 12m @ 715ppm TREO from 8m (22CVAC030)
• 16m @ 1,098ppm TREO within 36m @ 672ppm TREO from 12m (22CVAC031)
• 4m @ 1,177ppm TREO within 5m @ 1,040ppm TREO from 36m (CVAC023)
• 4m @ 1,040ppm TREO within 10m @ 665ppm TREO from 36m (CVAC036)
• 12m @ 1,003ppm TREO within 36m @ 672ppm TREO from 28m (CVAC017)
• 4m @ 937ppm TREO within 12m @ 638ppm TREO from 12m (22CVAC029)
• 4m @ 877ppm TREO within 23m @ 514ppm TREO from 48m (CVAC019)
• 8m @ 821ppm TREO within 15m @ 606ppm TREO from 28m (22CVAC046)
• 12m @ 803ppm TREO within 23m @ 582ppm TREO from 12m (22CVAC024)

This mineralised clay horizon is projected to extend north into the newly acquired tenure, providing an exciting target for future drilling activities.

Gold at Circle Valley

Gold exploration along the western edge of the Albany-Fraser Mobile Belt, where Circle Valley is situated, has met with considerable success, highlighted by the discovery and development of the 7.1Moz Tropicana gold mine. Circle Valley is prospective for Tropicana style gold mineralisation occurring in reactivated thrust faults and shearing running parallel with the Albany-Fraser Mobile Belt. Evidence of the fertile geology at Circle Valley can be seen in the high-grade drill results reported from Anomaly A (see ASX announcement dated 3 May 2022), including:

• 23m @ 5.09g/t Au from 13m including 10m @ 9.35g/t Au and including 7m @ 2.91g/t Au (22CVRC001)
• 24m @ 1.21g/t Au from 24m (22CVRC010)
• 16m @ 3.06g/t Au from 32m including 4m @ 10.80g/t Au (22CVRC009)
• 10m @ 4.72g/t Au from 120m including 4m @ 10.20g/t Au (22CVRC008) - hole ends in mineralisation

Prospective host lithologies are the meta-granitic gneiss below shallow, younger Phanerozoic sedimentary cover. Both the Cascade and Bishops Hat Shear Zones, which traverse the newly acquired tenure at Circle Valley provide excellent targets for this this style of mineralisation.

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FORTHCOMING ANNOUNCEMENTS

June 2022: Gold assays from Circle Valley RC drilling.

June 2022: Presentation to The Australian Gold Conference, 14 June 2022 at 2pm, Sydney.

June 2022: Assays from the remaining 16,000m of drilling for high-grade rare earth mineralisation at Circle Valley.

June 2022: Forward activity plan targeting the highest value zones of mineralisation at Cascade.

July 2022: Cascade rare earth metallurgical results from ANSTO.

July 2022: Gold assays from Murchison Gold Project drilling.

July 2022: Quarterly Activity Report.

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