Santana Minerals : Significant Gold Continuity in Rise & Shine Drilling

			SIGNIFICANT GOLD CONTINUITY IN RISE & SHINE EXTENSION DRILLING
only	•	MDD022
		•	Significant continuous gold grades form a thick intercept in drillhole MDD022 importantly
			linking similar intercepts in other drillholes along the NE trending axis of mineralisation
			extending north from the 2021 Rise & Shine (RAS) Mineral Resource Estimate (MRE).
use		o 26.7 metres @ 1.84 g/t Au from 262.3 metres, including:
	▪ 23.7 metres @ 2.01 g/t Au from 262.3 metres (0.5g/t min cut-off) with:
	▪ Individual one metre intercepts to 7.78 g/t Au
• The new RAS mineralised extension dimensions, currently defined at minimum 0.25 g/t Au are:
	o 30.0 metres average thickness @ 2.25 g/t Au (average length weighted intercepts)

• o 420 metre northerly extent (down-plunge at a shallow angle beyond the MRE 580 metres) o 260 metre east-west average width (across the axis)

  o Remaining open to the north and east.

• Grades now being intersected are significantly higher than those reported in the 2021 MRE
• Accelerated drilling is expected to complete a further 10,000 metres over the next six months on additional northern and eastern MRE extensions at RAS, Come-in-Time (CIT) and Shreks (SHR) deposits. A RAS MRE upgrade is scheduled once the new extension limits are defined.
• Potential for multi-million-ounce resources along the RSSZ is reinforced as higher-grade mineralisation intersected at RAS highlight the un-tested potential down plunge at CIT and SHR deposits and other prospects along 30 km inferred length of the RSSZ within the project area

personal8 February 2022 Santana Minerals Limited (ASX: SMI) ("Santana" or "the Company") is pleased to announce further significant assay results from the 100% owned Bendigo-Ophir Project ("the Project") where drilling to

September 2021 resulted in a 155% increase in Inferred Gold Resources (MRE) to 643Koz at four Rise and Shine Shear Zone (RSSZ) Deposits (ASX announcement on 28th September 2021).

Drilling has continued since September 2021 to extend mineralization down plunge at RAS. The latest results from MDD022 confirm continuity of mineralization previously reported in MDD020, MDD021R (ASX announcement on 27th January 2022) and MDD014 (ASX announcement on 15th November 2021).

Intercepts in 9 of 11 DD holes extend mineralisation a further 420 m down plunge from MDD014 with an average aggregate thickness of 30 metres with a simple drill hole intercept length weighted average grade of 2.25 g/t

ForAu. The grades now being intersected are significantly higher than those reported in the 2021 MRE. Commenting on the results Executive Director Dick Keevers said:

"With two drilling rigs operating a total of three drilling shifts per 24 hours, we are both extending the drill hole coverage down plunge at the RAS structure and filling in some important gaps in our drill pattern. The results of this work continue to define the shape and grade as well as extend this mineralised body.

Since this work has clearly defined a NE extension of the RAS deposit, our MRE needs to be updated to include this additional down plunge extension, which will be drilled for at least a further 300m down plunge to reach the Shepherds Creek topographic low, with drilling now in progress. When the new MRE is completed later this year, we expect a substantial increase in Resources, which, including Resources already defined at CIT and SHR, may confirm our current reasoned vision of more than one million ounces of gold in these Resources".

Santana Minerals Limited	ABN 37 161 946 989
Level 15, 344 Queen Street, Brisbane QLD 4000	∙	GPO Box 1305, Brisbane QLD 4000
Tel: [phone]		∙	Web: www.santanaminerals.com

RAS Deposit - Extension area drilled beyond existing 2021 MRE

Resource drilling on nominal 120 metre by 80 metre centres over the three-month period from September 2021 has extended RAS shoot mineralisation to 420 metres north down-plunge beyond the 2021 MRE. (Figures 1, 2, 3 & 5). All drillholes (other than MDD012 and MDD017 that appear to close off the shoot to the west) show

onlymineralisation consistently occurring within the RAS shoot over a vertical interval of 40-80 metres. Concentration of gold is in the 10-20-metre-thick Hanging Wall Shear (HWS) with grades of 1-7 g/t Au. Mineralisation is also in high-grade stockwork zones below the HWS with individual bonanza grades to 57.5 g/t Au as in the 13 metres at an average grade of 12.6 g/t Au intersected in MDD016 (ASX announcement on 23rd December 2021).

The RAS shoot has now been defined over 1000 metres down plunge from outcrop. Currently drilling is testing continuity of mineralisation a further 300 metres northwards as well as defining the eastern margin.

usepersonal

Figure 1 RSSZ 2021 Deposits & Resource Halos

ForDD Drilling at RAS, accelerated from early October 2021 with 24/7 drilling, was further accelerated on 10th January with another DD rig added. A total of 10,086 metres have been drilled since the present campaign commenced in November 2020 with 4,564 metres completed after those for the September 2021 RAS MRE.

Assay results have been received and reported for MDD022 (Tables 1 & 2, Figures 2, 3 & 4, Appendix 1). Assays are pending for two drillholes (MDD023R, MDD024) with two drillholes (MDD025R and MDD026) in-progress.

Table 1: MDD022 co-ordinates and downhole survey detail

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For personal use only

Figure 2 RAS Resource Extension Drilling - New Results / Gold Distribution

Figure 3 RAS Down-plunge Section (shoot axis geology & extension envelope)

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Figure 4 RAS Extension East-West-Sections N5017720 to N5107360

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New RAS Drill Results MDD022

DD hole MDD022 (Tables 1, 2, Figures 2, 3, & 4, Appendix 1) was collared 240 metres north of the RAS 2021 MRE on east-west drill section N5017600.

Individual assays (Appendix 1) show continuity of gold grades over a 26.7 metre HWS interval of the upper Rise and Shine Shear Zone (RSSZ). Higher-grades to 7.78 g/t Au are associated with mineralised quartz arsenopyrite fill vein stockwork & laminar veins which strike NW-EW and dip predominantly to the NE.

only	•	MDD022
	o 26.7 metres @ 1.84 g/t Au from 262.3 metres, including:
	▪	23.7 metres @ 2.01 g/t Au from 262.3 metres (0.5g/t min cut-off) with:
		▪	Individual one metre intercepts to 7.78 g/t Au

useThe MDD022 intercept of 26.7 metres @ 1.84 g/t Au (>0.25g/t min cut-off) is presently the thickest on section

N5017600 which averages 18.2 metres @ 1.95 g/t Au (Table 2, Figure 4). Assay results are pending for adjacent easternmost drillhole MDD023R on this drill section.

MDD022 intercept lies on the axis of the RAS shoot as previously defined by thick continuous mineralisation in drillholes MDD014 and MDD020 to the south and drillhole MDD021R to the north (Figures 3 & 4, Table 2). MDD022 grade and thickness are an important link confirming NNE continuity of the RAS shoot

extension area drilled, during the 4th Quarter of 2021, north beyond the 2021 RAS MRE (Figure 2). personalRAS Extension - Sectional Widths and Grades

Nine of eleven drillholes have aggregate and continuous gold intercepts (Table 2, Figure 4) that define a grade envelope (>0.25 g/t Au minimum) extending 420 metres north and averaging 260 metres east-west across the shoot for an overall extension average thickness of 30.0 metres @ 2.25g/t Au (weighted on sectional envelope widths between 145m and 370 metres wide).

Drillholes MDD012 and MDD017 that appear to close off mineralisation to the west (Figure 2) are not included in the Sectional Summary and MDD025R (in-progress) has intercepted HWS mineralisation with VG (Figure 6) that is expected to add width to this current northmost section (N5017720).

Table 2: RAS NEW EXTENSION Section Intercept Summary (4th Quarter 2021 Drillholes)

For

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