OzAurum Resources Ltd. provided an update on the recently completed ten-hole Reverse Circulation (RC) program drilled for 2,100 meters (m) which delivered exceptional gold results. In addition, OzAurum received significant results for the second diamond hole, MNODH 003, recently completed at the new virgin gold discovery Demag Zone discovered at the Mulgabbie North Project. The Company reported the results of the recently completed RC program which included ten holes for 2,100 meters of drilling at the Mulgabbie North Demag Zone, as well as the results for diamond hole MNODH 003, which was drilled to a depth of 334.75 meters.

Significant high-grade gold results have been received from a number of RC holes in the current program which include: 57m @ 1.05 g/t gold (Au) - (from 119m) incl 21m @ 1.31 g/t Au, 10m @ 1.72 g/t Au MNORC 192. 20m @ 2.55 g/t Au - (from 251m) incl 10m @ 3.62 g/t Au MNORC 184. 43m @ 0.82 g/t Au - (from 56m) incl 15m @ 1.32 g/t Au MNORC 191.

1m @ 19.60 g/t Au - (from 43m) MNORC 186. 15m @ 2.08 g/t Au - (from 51m) incl 9 m @ 3.29 g/t Au, 1m @ 18.60 g/t Au MNORC 186. 43m @ 0.82 g/t Au - (from 62m) incl 15m @ 1.32 g/t Au MNORC 191.

16m @ 1.36 g/t Au - (from 41m) incl 1m @ 7.62 g/t Au MNORC 190. 21m @ 0.72 g/t Au - (from 41m) incl 3m @ 3.00 g/t Au MNORC 193. 41m @ 0.50 g/t Au - (from 157m) incl 7m @ 1.65 g/t Au MNORC 193.

40m @ 0.95 g/t Au - (from 92m) incl 5m @ 3.32 g/t Au. 9m @ 1.52 g/t Au - (from 137m) incl 3m @ 3.05 g/t Au. Gold mineralisation at the Demag Zone is associated with significant wide downhole intervals of sericite- carbonate alteration with pyrite and arsenopyrite mineralisation which has been intersected in both RC and diamond drilling at the Demag Zone.

Further, recent RC and diamond drilling has confirmed the host conglomerate unit having a true thickness of approximately 120m. have also now identified a vein paragenesis at the Mulgabbie North Demag Zone in diamond drill hole MNODH 003. Foliation with arsenopyrite-pyrite (`murky pyrite') and sulphide stringer + alteration and crustiform carbonate veinlets with chalcopyrite emplaced in foliation.

Quartz sulphide veinlets (quartz-arsenopyrite-pyrite±pyrrhotite) laminated and fracture veinlets; sulphides grown across fabric. Deformation of veinlets asymmetric and ptygmatic folds. Quartz-albite taper veinlets minor arsenopyrite, cut by late pyritic fractures.

Translucent quartz veinlets. Diamond drilling continues at the Demag Zone with the fourth diamond hole, MNODH 005, currently at a depth of 74m and planned to be drilled to a depth of 600m. Significant zones of faulting were intersected in diamond holes MNODH002, MNODH003, and MNODH 004.

These faults may impact on the final depth of the current fourth diamond hole MNODH 005. The third diamond drill hole, MNODH 004 situated on the 8400N section of the Demag Zone, was planned to target gold mineralisation at a depth previously intersected by RC drill hole MNORC 177 . Mineralisation intersected in MNODH 004 is situated within a highly altered intermediate/felsic volcanoclastic conglomerate unit (host unit) that is interpreted to be the stratigraphic equivalent to an Upper Black Flag unit.

The key characteristic of this particular Upper Black Flag unit is the presence of fuchsite altered clasts within the mineralised clastic unit. Additionally, a late basin epiclastic conglomerate unit, that represents an important stratigraphic unconformity, was intersected at EOH in MNODH 002, 003 and 004. The Company plans to drill the current diamond hole MNODH 005 to a depth of 600m to reach this unconformity.