Moho Resources Limited announce that a ground electromagnetic (EM) geophysical survey commenced on 13 March 2023 at the Dukes Nickel Prospect. The Dukes Nickel Prospect which is part of the regional Silver Swan North Project, is located on E27/613 and E27/626, approximately 10 km northwest of the Silver Swan nickel mine and 50km km NNE of Kalgoorlie, Western Australia. The EM survey could assist in identifying potential nickel sulphide targets within the Dukes ultramafic sequence.

The survey is expected to take about two weeks to complete and is being undertaken by Gem Geophysics under the supervision of Moho's consultant geophysicist Kim Frankcombe of ExploreGeo Pty Ltd. The 100m in-loop EM survey is using a HIgh Temperature SQUID sensor coupled to a SMARTem receiver on 200m line spacing and 50m stations. This arrangement allows for the collection of very clean, three component focused in-loop data that enables discrimination between anomalies caused by bedrock conductors and those due to non- mineral related regolith effects such as SPM (Super Para-Magnetism). No historical drilling or electromagnetic (EM) surveys have been reported for the Dukes prospect.

Surface geochemical sampling was completed on E27/613 and E27/626 in 2020 as part of Moho's project- wide gold exploration program and anomalous nickel results were announced in September 2021. Multiple zones of >100 ppm nickel were noted within a broader anomalous zone approximately 3km in length. Maxi- mum nickel values of 2460, 1150 and 951ppm nickel were reported, with the anomalies having a strong co- incidence with an interpreted metamorphosed ultramafic rock unit.

A geochemical evaluation of the surface sampling assay data identified several coincident nickel and copper anomalies overly a magnetic high representing the Dukes komatiites which are considered prospective for nickel sulphide mineralisation. Drilling and related ground disturbing activities over most of the tenement were postponed until an aborigi- nal heritage survey could be undertaken. However DMIRS approval was given for an initial RC drill program of 7 holes along fence lines at two locations in the northwestern and southeastern extremities of the Ni - Cu soil and magnetic anomalies in October 2022.

At the northern E-W fence line 3 drill holes intersected ultramafic lithologies with a massive gabbro overlying this sequence. Minor disseminated sulphides were observed. At the southern N-S fence line 4 drill holes intersected the same ultramafic lithologies over a width of more than 200m, again overlain by a massive gabbro.

Within the ultramafic sequence, hole SSMH0150 intersected a more gabbroic lithology with over 10% disseminated sulphides from a depth 53m to 66m. The overall appearance of the ultramafic lithologies and the lack of observed komatiite flow features could indicate that the ultramafic at Dukes is a layered ultramafic intrusive sill rather than extrusive ultramafic volcanics. Assays results are expected shortly.