New Age Exploration Limited : - Further Ground Work Completed at Lammerlaw Gold, NZ

New Age Exploration Limited ('NAE' or 'the Company') is pleased to provide the following update on the further completion of soil, rock chip sampling and field mapping over several areas identified in the recently completed review of detailed airborne geophysical data covering both of the Company's most southern New Zealand Gold projects.

The projects include the Otago Pioneer Quartz ('OPQ') Project within NAE exploration permit (EP 60502) and the Lammerlaw Project which includes prospecting permit (PP 60544) adjoining OPQ to the west.

CURRENT WORK PROGRAM

Perspectivity of the NAE permits is demonstrated by three factors

Similar geology and geophysical signatures to the Hyde-Macraes shear zone

The permits sit in the hinterland of New Zealands largest alluvial deposit at Gabriels Gully

There are historic hard rock gold mines hosted on brittle structures within the permits

NAE commissioned a report by Anthony Coote, (APSAR Ltd) to examine regional geophysical and other data in March 2020 in the Lammerlaw and OPQ permits The details of this are outlined in NAE's announcement on 23 April 2020 'NZ Gold Project Exploration Update'. A regional soil sampling programme targeted the contacts between contrasting metamorphic rocktypes comprising carbonaceous pelitic schists overlying psammitic mafic schists. These contact zones preferentially host mineralised shearing and veining in other deposits in Otago.

The regional soil lines are targeting contacts between contrasting metamorphic rock types comprising carbonaceous pelitic schists overlying psammitic mafic schists that is outlined in NAE's 23 April 2020 Announcement. These contactzones preferentially host mineralised shearing and veining in other deposits in Otago.

Field work was carried out in June 2020 following the end of work restrictions in New Zealand due to COVID-19. The Initial fieldwork has focused on geological mapping, soil sampling and rock chip sampling targeting potential shear host gold mineralisation. Work was restricted to lower elevation areas due to winter weather conditions freezing the ground at higher elevations.

HISTORIC GOLD MINING

The Permit contains the historically mined Bella Lode where gold was mined in the late 1800's with an average grade of 15 g/tonne Au over 0.6-1.8m thickness, before the mine closed in 1901. The Permit also contains a historically mined antimony lode along and scheelite (tungsten) workings with minor occurrences of copper, silver and mercury.

The permit is located in the hinterland of one of New Zealand's largest alluvial gold deposit, Gabriels Gully (>0.5 Moz produced).

Contact:

Joshua Wellisch

Tel: [phone]

Email: [e-mail]

FORWARD LOOKING STATEMENTS

This report contains 'forward-looking information' that is based on the Company's expectations, estimates and forecasts as of the date on which the statements were made. This forward-looking information includes, among other things, statements with respect to the Company's business strategy, plans, objectives, performance, outlook, growth, cash flow, earnings per share and shareholder value, projections, targets and expectations, mineral reserves and resources, results of exploration and related expenses, property acquisitions, mine development, mine operations, drilling activity, sampling and other data, grade and recovery levels, future production, capital costs, expenditures for environmental matters, life of mine, completion dates, commodity prices and demand, and currency exchange rates.

Generally, this forward-looking information can be identified by the use of forward-looking terminology such as 'outlook', 'anticipate', 'project', 'target', 'likely', 'believe', 'estimate', 'expect', 'intend', 'may', 'would', 'could', 'should', 'scheduled', 'will', 'plan', 'forecast' and similar expressions. The forward looking information is not factual but rather represents only expectations, estimates and/or forecasts about the future and therefore need to be read bearing in mind the risks and uncertainties concerning future events generally.

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