Musgrave Minerals Ltd. announced that it has received initial metallurgical test work results from master composite samples for the White Heat-Mosaic and Big Sky deposits, on the Company's wholly owned ground at the Cue Gold Project in the Murchison region of Western Australia. The testwork has highlighted combined gravity and cyanide leach recoveries averaging 93-99% across the different domains (oxide and fresh) and importantly shows consistent amenability to conventional gravity and leaching techniques using standard reagents across all the individual deposits at the company's Cue Gold Project. Metallurgical recovery tests were completed on master composites from White Heat-Mosaic (fresh) and Big Sky (oxide) at various grind sizes across the strike and depth extent of the optimized open pit portions of the deposits.

Sample recovery test results from individual domains are still pending. The gravity recoverable component was initially concentrated using a conventional laboratory scale bench-top Knelson concentrator, followed by amalgamation and intensive cyanide leaching of the concentrate. A conventional 48hr cyanide leach was then carried out on reground (P80 75µm) residual material from the Knelson concentrator with readings taken periodically to determine leach kinetics of the samples.

The test work demonstrated rapid leaching kinetics for both master composite samples and overall recovery of between 94% (Big Sky) and 98% (White Heat-Mosaic) over short leach times 1kg bottle roll leach extraction test work utilising a site water proxy confirmed rapid leaching kinetics post gravity recovery and terminal leach extractions exceeding 93-99% at low to moderate cyanide consumptions for both deposits at a grind P80 of 75µm. In addition, high amalgamated gravity-only recoveries of >36% (Big Sky) and >76% (White Heat- Mosaic) at a P80 of 106µm initial grind were achieved from a single pass through the Knelson concentrator. These gravity recoveries are very positive. The test work was undertaken by ALS Metallurgical Laboratories (ALS) in Balcatta, Western Australia and managed and reviewed by Ivan Hunter at Minelogix Pty Ltd. ALS is responsible for sample preparation, mineralogy, comminution, gravity, cyanide leaching, including grind size and reagent optimisation, oxygen uptake, viscosity, carbon loading kinetics and variability testwork.

Other specialist companies will complete the test work on aspects including tailings geochemistry, tailings geotechnical studies and tailings thickening. Metallurgical Sample Selection: A master sample was collected from 3 representative drill holes from the White Heat-Mosaic deposit and from eight representative drill holes at Big Sky. The White Heat-Mosaic samples consisted of two primary (fresh) composites (WH1 and WH3).

The Big Sky samples consisted of eight oxide (BS1-8). All samples are from representative mineralised zones within the preliminary optimised pit shells. All composites were diluted with at least 1m of footwall and hanging wall material with overall dilution being typically 40%.