Siren Gold Limited provided an update on the Mineral Resource Estimate (MRE) for the Alexander River and Sams Creek Projects. Highlights: Global resource has increased to 10.2Mt @ 3.0g/t Au for 994koz (100% basis) at a 1.5g/t Au cut-off; The Alexander River Inferred MRE has increased to 1.07Mt @ 5.0g/t Au for 170koz at a 1.5g/t cut-off; Alexander River Resource increase of 30% with grade increasing 22%, based on the inclusion of data from 31 trenches; Sams Creek MRE has increased to 9.1Mt @ 2.8g/t Au for 824koz at a 1.5g/t cut-off; Sams Creek Resource now incorporates data from the Bobby Dazzler deposit of 16.7koz at 2.6g/t Au.; Significant exploration potential exists at both Sams Creek and Alexander River for further Resource increases, with deposits open along strike and at depth. Background: Siren holds a large, strategic package of tenements in the Reefton, Lyell and Sams Creek Goldfields in the South Island of New Zealand.

Western New Zealand was originally part of Gondwana and lay adjacent to eastern Australia until around 80 Ma ago. The NW of the South Island of New Zealand comprises an area of predominantly early Paleozoic rocks in broad northerly trending belts that terminate at the Alpine Fault (Figure 1). The Paleozoic sequence is divided into the Buller Terrane, Takaka Central and Takaka Eastern Belts.

These belts are interpreted to correspond with the Western, Central and Eastern belts of the Lachlan Fold Belt. The Buller and Western Lachlan belts contain orogenic gold deposits like Bendigo, Ballarat and Fosterville in Australia and the Reefton and Lyell Goldfields in New Zealand. The Eastern Takaka and Eastern Lachlan belts host Sams Creek porphyry-Au and porphyry copper-gold deposits, like Cadia and Ridgeway, respectively.

The Reefton Goldfield was discovered in 1866 and produced +2M oz of gold at an average recovered grade of 16g/t from 84 historic mines, plus an estimated alluvial gold production of 8Moz. Most underground mining ceased by 1942, with the famous Blackwater mine closing in 1951 when the shaft failed after producing ~740koz of gold down to 710m below surface. Siren's key projects include Alexander River, Big River, Auld Creek, Cumberland, Lyell and Sams Creek.

Geology: The Alexander River Project (Exploration Permit 60446) is located ~26km southeast of Reefton, in a mostly fault-bounded sliver of Greenland Group rocks 7kms southeast of the main Reefton Goldfield block. It is bounded by undeformed granite to the west, and by a metamorphic core complex to the east. The Alexander mineralisation outcrops for over 1.2kms and is comprised of high-grade quartz reefs and disseminated mineralisation.

Surface trenching and channel sampling show that the mineralisation ranges from 2-15m thick, with an average thickness and grade of 4m @ 8g/t Au. Surface sampling identified four mineralised shoots, named Bull, McVicar, Bruno and Loftus-McKay. Only the McVicar East Shoot was mined to any extent, with the shallow plunging shoot mined to 250m below surface, extracting 41koz at an average recovered grade of 26g/t Au before the mine closed in 1942.

Structural mapping has confirmed that the Alexander River mineralised zone can be divided into two structural domains. The Bull-McVicar-Bruno reef track is ENE striking, steeply SE dipping, while the Loftus-McKay reef track extends from Bruno into Mullocky Creek and is NNE-striking and dips 50o to the NW. In both structural domains, it appears that the intersection between an anticline hinge and a mineralised fault likely controls the trend and plunge of Au-bearing shoots.

The arsenic soil anomaly extends from Bull and ends around the last known outcrop of the Loftus-McKay Shoot near Pad 28, where the shoot is interpreted to be offset approximately 150m to the north by a NNW trending Mullocky Fault. This interpretation is based on the offset of a dolerite dyke and the absence of the Loftus-McKay Shoot in holes drilled from the next two pads to the north.