OzAurum Resources : Visible Gold Intersected at the Patricia Gold Project

ASX Announcement

28 March 2022

Visible Gold Intersected at the Patricia Gold Project

Highlights

• • Maiden 1,000m Diamond Drilling program has commenced at the Patricia Gold Project

• • Visible gold intersected in Diamond hole PTODH 001 at 165.6m- a twin hole to previously reported PTORC 024 that intersected 5m @ 37.11 g/t Au from 154m including 1m @ 90.4 g/t Au, 1m @ 63.6 g/t Au, 1m @ 16 g/t Au and 1m @ 13.25 g/t Au

• • Diamond drilling planned to target high grade gold mineralisation at depth while also seeking further structural and lithological information to potentially resolve the structural complexity seen at the Project thus far

• • Patricia Gold Mine historically produced 5,384 oz's of gold from 4115 tonnes of ore at an average grade of 41 g/t Au (1930-1937)

• • The current Patricia open pit is approximately 800m long x 150m wide and was previously mined to a depth of 25m

Figure 1: Diamond Drill rig on site at Patricia

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OzAurum Limited ABN 63 643 244 544

Unit 1 15 Williams St, Kalgoorlie WA 6430 | PO Box 10396, Kalgoorlie WA 6430 |[e-mail]

ASX | 28 March 2022

Patricia Diamond Drilling Program

OzAurum Resources Ltd (ASX: OZM or OzAurum or the Company) is pleased to announce the commencement of its maiden 1,000 metre (m) Diamond Drill program at the Patricia Gold Project, situated North-East of Kalgoorlie in the Eastern Goldfields of Western Australia, which has so far intersected visible gold.

Diamond hole PTODH 001 is the first diamond hole drilled by OzAurum at the Patricia Gold Project. This hole was planned to twin Reverse Circulation (RC) hole PTORC 024 that previously intersected 5m @ 37.11 g/t Au from 154m including 1m @ 90.4 g/t Au, 1m @ 63.6 g/t Au, 1m @ 16 g/t Au and 1m @ 13.25 g/t Au. Results from this hole, which has been planned to be drilled to a depth of 200m, also aims to provide valuable structural information related to high grade gold mineralisation at the Patricia Gold Project. In addition to this initial twin hole, the Company has planned a number of step-out Diamond drill holes as part of this initial 1,000m program.

The visible gold intersected has associated pyrite,chalcopyrite and electrum mineralisation hosted in quartz veining within an ultramafic unit. Gold mineralisation at Patricia is also hosted in the alteration selvage either side of the mineralised quartz veins.

This first hole is part of a 1,000m diamond drilling program planned for Patricia, with diamond drilling seen as the potential key to unlocking the structural complexity seen at the project.

Initial holes will twin previously reported RC drilling high grade gold intercepts, and information from these initial diamond holes will be used to plan deeper holes targeting high grade gold mineralisation at depth.

Figure 2: PTODH 001 165.6 visible gold in diamond core

Previously reported high grade intercepts (please see OZM ASX release 23/09/21) from OzAurum Patricia RC drilling include;

• o 5m @ 37.11 g/t gold (Au) - (from 154m) PTORC 024

• o 1m @ 90.40 g/t Au - (from 156m within 5m @ 37.11 g/t Au) visible Au PTORC 024

• o 1m @ 63.60 g/t Au - (from 155m within 5m @ 37.11 g/t Au) PTORC 024

• o 1m @ 16.00 g/t Au - (from 154m within 5m @ 37.11 g/t Au) PTORC 024

• o 1m @ 13.25 g/t Au - (from 157m within 5m @ 37.11 g/t Au) PTORC 024

ASX	|	28 March 2022
o	5m @ 11.74 g/t (Au) - (from 151m) PTORC 022
o	1m @ 31.10 g/t Au - (from 154m within 5m @ 11.74 g/t Au) PTORC 022
o	1m @ 10.8 g/t Au - (from 151m within 5m @ 11.74 g/t Au) PTORC 022
o	1m @ 7.42 g/t Au - (from 191m within 5m @ 3.19 g/t Au) PTORC 035

Patricia Gold Project Geology and Background Information

The Patricia Gold Project is situated within the Celia Tectonic Zone that hosts numerous large gold deposits and operating gold mines including Sunrise Dam, Deep South, Safari Bore, Linden and the Anglo Saxon Gold Mine.

At the Patricia segment of the Celia Tectonic Zone the greenstone sequence consists of intermediate to felsic volcanics and volcaniclastics with interleaved ultramafic and banded iron formation. The Patricia Gold Project is situated on a significant flexure of the greenstone stratigraphy with the strike changing from 320° to 350° back to 320°. This change in strike direction represents a dilation jog which is a classic structural trap for gold fluids. Coincidently a large intermediate porphyry body intrudes the greenstone sequence at this point.

The historic Patricia Gold Mine was discovered in 1930 and mined underground up until 1937. During this time the Patricia Gold Mine produced 5,384 oz's of gold from 4115 tonnes of ore at an average grade of 41 g/t Au.

Aztec Exploration Ltd commenced modern exploration in 1983 at Patricia. Aztec produced a very high quality dataset of geological information based on a RC drilling, diamond drilling, costeaning and geological mapping. Subsequently Aztec established an open mining operation in 1986 with small CIP treatment plant located onsite.

The current Patricia open pit is some 800m long x 150m wide and was mined to a depth of 25 metres.

Photomicrograph 1: PTODH 001 165.6 free gold in diamond core in proximity to chalcopyrite

ASX | 28 March 2022

OzAurum's Chief Executive Officer, Andrew Pumphrey, said:

"The Company is very excited about the Diamond drilling program currently underway at the Patricia Gold Project. The intersection of visible gold in our first diamond hole at Patricia is a fantastic result, and further validates the high-grade gold potential of the Patricia Gold Project. In addition, the Company is confident that the 1,000m Diamond Drilling program will provide valuable lithological and structural geology at this project, aimed at making a significant discovery at depth. We look forward to completing this program at Patricia, and eagerly await assay results from the drilling already completed."

Figure 3: Patricia Gold Project Interpreted Geological Plan

ASX | 28 March 2022

For Further Information please contact;

Andrew Pumphrey

Managing Director + CEO [phone]

This ASX Announcement was approved and authorised by OzAurum's Managing Director, Andrew Pumphrey.

About OzAurum

OzAurum Resources Ltd (ASX: OZM) is a Western Australian gold explorer with advanced gold projects located 130 km north east of Kalgoorlie. The Company's objective to make a significant gold discovery that can be bought in production.

For more information on OzAurum Resources Ltd and to subscribe to our regular updates, please visit our website atwww.ozaurumresources.com or contact our Kalgoorlie office via email [e-mail].

Competent Persons Statement

The information is this report that relates to exploration results is based on information compiled by Andrew Pumphrey who is a Member of the Australian Institute of Geoscientists and is a Member of the Australasian Institute of Mining and Metallurgy. Andrew Pumphrey is a full-time employee of OzAurum Resources Ltd and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Pumphrey has given his consent to the inclusion in this report of the matters based on the information in the form and context in which it appears.