New Age Exploration Limited provided the following updates from New Zealand gold projects OPQ, Manorburn and Marlborough. Surface sampling results from Manorburn have confirmed the tenure of previous samples collected in the 1980's. Field mapping has confirmed northwest trending structures traversing the Manorburn Permit are host to anomalous gold and arsenic values. Northwest trending structure host the nearby Santana Mineral Limited Bendigo-Ophir Project.

Reconnaissance sampling within the Marlborough Permit has produced significant gold assays from outcropping quartz veins and historically mined material. Sample results have added the understanding of the gold grade of ore sent from processing during active mining between 1910 and 1930. Results have demonstrated historically mined ore contained gold grade significantly higher than reported in historic mine recoveries and sampling by modern explorers.

Drilling at OPQ will be undertaken by a track mounted RC drill rig. Six holes will be drilled to depth between 120m and 180m with the aim of intersecting the gold bearing quartz veins in the vicinity of old workings. Drilling will also test for disseminated gold bearing sulphide in host OPQ Shear Zone over 750m of strike length.

The northwest trending OPQ Shear Zone is reported to be up to 6m wide in historic workings and has been traced by NAE surface sampling for >6km. The OPQ Mine produced gold following its discovery in 1861 until 1903 when high development cost and poor weather conditions forced closure. The OPQ Mine and OPQ Shear Zone have never been drill tested.

Positive results from this initial RC drill program will encourage further drill testing along the OPQ Shear Zone, most of which is concealed by thin cover. Low detection gold assays collected from the Manorburn Permit have followed-up results from exploration completed in the 1980s and targets highlighted by recently re-processed geophysics. Samples were collected from the central portion of the Manorburn Permit where previous explorers identified stream sediment anomalism near alluvial workings.

NAE sampling focused on testing northeast and northwest trending structures known to host gold in the Otago Project area. Assay results show northeast trending structures contain low gold and arsenic anomalism. Assay results and geological field observation concluded northeast structures in the permit area are likely a very high- level portion of an orogenic hydrothermal system.

Positive gold assay results were returned from areas with northwest trending structural fabric extending from small fault zones. Future work will focus on identifying prospective NW trending structures. The Wakamarina Valley portion of the Marlborough Permit was the focus of a reconnaissance field trip in late 2022.

Historic mines Mountain Camp and Golden Bar were visited, with samples being collected from outcropping quartz veins, mine infrastructure and mullock heaps. Sampling at Golden Bar Mine addressed inconsistencies in historic literature, particularly the ore grades sent to for processing. Golden Bar produced gold and tungsten at different periods between 1910 and 1930.

Recovering gold and tungsten from the same ore is difficult due to contrasting grinds size required. When tungsten was the mines focus, fine gold was lost during ore processing, and vice versa. This likely means the published historic gold and tungsten production figures clearly represent the gold ore grades mined.

NAE gold assay results show ore transported to the Golden Bar processing plants had an average grade much higher than the average mine production stated in intermittent historic records. Higher gold grades present a positive upside for NAE's future exploration testing at the Golden Bar Mine. Additional field work and research will be completed to understand the grade of ore mined at Golden Bar and to extend the 850m continuous quartz vein strike length.