Strickland Metals Limited provided an update on its flagship Millrose gold project located on the world renowned Yandal Greenstone Belt in Western Australia. The Millrose gold project lies approximately 30km due east of Northern Star Ltd.'s Jundee gold operation. Diamond drilling successfully intersected the Wanamaker lode in all holes: MRRC355D: 7.7m @ 6.6g/t Au from 179m; MRRC353D: 20.2 m @ 2.8g/t Au from 143m; MRRC357D: 5.4m @ 5.9g/t Au from 154.6m; MRRC359D: 6.6m @ 4.9g/t Au from 141.6m; and MRRC341D: 6.2m @ 3.6g/t Au from 151.9m.

The holes were designed to test for primary mineralisation on 50m step-outs running north-south, defining Wanamaker now as ~300m in length and being entirely open at depth. These holes follow the initial discovery holes of: MRRC130: 8m @ 4.0g/t Au from 104m; and MRRC226D: 7.9m @ 7.0g/t Au from 138.9m. The Wanamaker discovery is a distinct primary high-grade mineralised lode, consisting of Silica-Chlorite alteration, as opposed to the silica-carbonate alteration observed at Millrose North, and the Hematite-Carbonate-Silica alteration present at Millrose Central.

The presence of lamprophyre intrusives, associated with the high-grade gold mineralisation, is a unique geological characteristic associated with Wanamaker. Millrose North, Millrose Central and the Wanamaker lodes are all interpreted to be north-plunging lode, associated with the NE-striking cross-cutting shear structures. Primary gold mineralisation across all three domains remains open at depth.

These most recent assays continue the excellent results returned from previous proximal oxide intersections, as announced to the market on 29 August 2022, 7 September 2022, 21 September 2022, 17 October 2022 and 20 October 2022: MRRC239: 7m @ 22.2g/t Au from 72m; MRRC347: 5m @ 14.5g/t Au from 67m and 5m @ 1.4g/t Au from 79m; MRRC339: 5m @ 6.6g/t Au from 83m and 6m from 1.6g/t Au from 55m; MRRC335: 2m @ 11.3g/t Au from 86m; MRRC230D: 19m @ 2.4g/t Au from 117m; MRRC228: 37m @ 1.6 g/t Au from 58m, including 9m @ 5.6 g/t from 86m; MRRC242: 24m @ 1.6g/t Au from 64m; MRRC234: 53m @ 1.1 g/t Au from 44m (incl. 13m @ 3.3 g/t Au from 84m); MRRC238: 12m @ 4.9 g/t Au from 64m (incl. 4m @ 13.6 g/t Au from 68m); MRRC224: 4m @ 2.3 g/t Au from 40m; and MRRC240: 4m @ 1.3 g/t Au from 69m.

The drilling completed by Strickland over the last 9 months has successfully expanded the oxide gold mineralisation at Millrose, which is now defined over 3.2km in length (and remains open to the north). In addition to this oxide mineralisation, Strickland has also been successful in defining three high grade primary lodes, in the form of Millrose Central, Millrose North and Wanamaker (south to north). Each zone displays varying alteration and mineralisation styles that can be grouped accordingly: Millrose Central: Hematite - Carbonate - Silica, Millrose North: Silica - Carbonate, Wanamaker: Silica-Chlorite.

Both the newly defined primary and extensive oxide mineralisation will feed into an updated Mineral Resource, which the Company plans to release to the market in 2023. Millrose Deep Drilling: Further results have been received from the deeper diamond drilling undertaken at Millrose beneath the current Mineral Resource. Assays include: MRDD043: 31.3m @ 2.1g/t Au from 231.2m (incl.

9.5m @ 4.0g/t Au from 253m); MRDD044: 92.9m @ 1.0g/t Au from 315m (incl. 15.9m @ 2.7g/t Au from 315m); MRDD046: 29.6m @ 1.0g/t Au from 329.9m, and 23.6m @ 1.0g/t Au from 398m; MRDD047: 11.3m @ 1.2g/t Au from 298.2m (incl. 5.6m @ 2g/t Au from 298.2m), and 5.3m @ 1.7g/t Au from 326.2m; and MRDD048: 34m @ 1.4g/t Au from 292m.

These results build on previously announced STK intercepts below the historic Millrose North Resource: MRDD028: 38.2m @ 2.5g/t Au from 234m (incl. 5m @ 5.3g/t Au from 239m, and 5.9m @ 6.1g/t Au from 258m); MRDD029: 29m @ 1.2g/t Au from 272m; MRDD030: 10.3m @ 2.2g/t Au from 241.7m; MRDD039: 8.7m @ 1.9g/t Au from 394m; MRRC101D: 27.7m @ 1.82g/t Au from 234.3m; and MRRC103D: 23.8m @ 1.77g/t Au from 246m. Drilling below Millrose North was conducted on 50m step-outs (north-south), testing for primary mineralisation across the modelled plunging ore body and at depths of up to 100m below the historic mineral resource estimate.

All holes successfully intercepted the mineralised shear zone, testing across the high-grade inner core and outer lower-grade mineralisation halo, characteristic of the Millrose North lode.