Alloy Resources Limited provided the following update in regards to exploration activities at the Horse Well Gold Project Joint Venture. Horse Well is located in the north-east goldfields region of Western Australia and is adjacent to Northern Star's Limited's Jundee Gold Mine. The Company is currently sole funding exploration to earn up to 60% in the Project. The project is well mineralized and has a number of prospects within the 60 kilometer strike of greenstone belt. The Company has been systematically testing a pipeline of these with the aim of discovering a major new gold deposit. To finish the 2018 exploration program the Company continued to test more of the numerous exploration prospects present in the project. Three of these prospects were investigated by completing short air-core drill lines during early December 2018. In 2016 a 300 hole air-core program on a wide spacing of 800 meters x 160 meters was completed to provide first-pass testing of a concealed 8 kilometer strike of greenstone belt in the center of the project (ASX release 16/01/2017). This work defined three parallel >50 ppb Au anomalies extending along the entire area. The central and eastern anomalies are associated with an extensive granite intrusive that intrudes the Celia Shear at the contact between the western sedimentary units and the eastern mafic units, and is regarded as highly prospective. Infill drilling to 40 meter spaced holes was completed on Line 7,138,800 mN where two previous holes had intersected 4m @ 840 ppb Au and 4m @ 150 ppb Au across a granite contact that was altered and had associated very elevated silver, bismuth and tellurium values. Five holes, HWAC1250-1254, were completed and 4m composite samples analyzed for gold and multi-elements.