Musgrave Minerals Ltd. reported further assay results from the recent regional scout aircore drilling program on the Cue Joint Venture over Lake Austin with Evolution Mining Ltd. ("Evolution in Western Australia's Murchison district. The results continue to strengthen the company's exploration model for a large gold system beneath Lake Austin. The aircore drilling has generated multiple high-priority basement gold targets for follow-up diamond drill testing which is scheduled to commence in early February. Under the Evolution Joint Venture, which commenced in October 2019, two phases of regional aircore drilling have been completed. The combined Phase 1 and Phase 2 programs comprised 436 holes for 48,895m on Lake Austin. The aim of the aircore programs was to obtain geological and geochemical information to integrate with geophysical data and provide vectors for basement drilling target a large-scale gold system. A combination of four metre composite assays and one metre individual samples have been received to date from the Phase 2 aircore program. West Island: The West Island regolith gold anomaly extends over a strike of more than 1.5km. New significant results from West Island include: 50m at 1.17g/t Au from 70m to EOH (20MOAC420) including; 4m at 7.57g/t Au from 114m; 16m at 0.50g/t Au from 87m to EOH (20MOAC414); 44m at 0.31g/t Au from 108m to EOH (20MOAC362); 16m at 0.31g/t Au from 84m (20MOAC415). Lake Austin North: The Lake Austin North regolith gold anomaly extends over a strike of more than 5km. New significant results from Lake Austin North include: 80m at 0.24g/t Au from 84m (20MOAC327) including: 19m at 0.57g/t Au from 145m.