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Mt McClure

Ironstone Well-Barwidgee Project

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Mt McClure Mineral Resource Inventory increased by 34% to 182koz Au

Initial Resources at HMS Sulphur and Gilmore add 46,200oz Au

Mineral Resource Estimate (“MRE”) update increases the Mt McClure Mineral Resource Inventory to 182,000oz @ 1.7 g/t Au and the Company’s combined Mineral Resource inventory across all 100% owned projects to 470,200oz @ 1.4 g/t Au.

Initial Inferred MRE for HMS Sulphur deposit of 1,010,000t @ 1.2g/t Au for 39,000oz reported above 0.5g/t Au lower cut-off grade.

The Preliminary HMS Sulphur MRE is defined to a maximum vertical depth of 170m; mineralisation remains open at depth and along strike to the south.

78% of ounces fall within shallow oxide and transitional material with clear potential to build on the initial HMS Sulphur MRE with shallow RC drilling.

The HMS Sulphur deposit is located on a granted mining lease directly adjacent to the current Success Mineral Resource of 75koz @ 1.9g/t Au (see ASX Release 6th September 2022).

Inferred MRE for the Gilmore deposit of 134,000t @ 1.7g/t Au for 7,200oz reported above 1.0g/t Au lower cut-off grade.

Yandal Resources’ Managing Director, Tim Kennedy, commented:

“We’re pleased to have added a further 46,200oz to the Mt McClure Mineral Resource, increasing the overall project inventory by 34% to 182,200oz. Importantly, this was added for less than $20 per ounce, demonstrating the potential for low-cost brownfield discoveries across the Mt McClure Gold Project. At HMS Sulphur, the MRE is comprised of predominantly oxide ounces in close proximity to the existing Success MRE, and it has growth potential along strike to the south and down dip. Having a combined Resource Inventory of some 182,000oz on granted mining leases nearby to haulage infrastructure is a good starting point for the project, and we look forward to progressing other opportunities to increase this further.”

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