Ballymore Resources Limited announced that drilling is progressing well at the Company's Dittmer Gold Project, located near Proserpine in North Queensland. To date, four holes have been completed with all holes intersecting the modelled fault extension to the Duffer Lode as planned with quartz-pyrite-chalcopyrite vein-hosted mineralisation encountered. The Duffer Lode continues to demonstrate a potential broadening at depth with individual quartz- chalcopyrite zones logged up to 8.3m, with some areas showing multiple mineralised zones.

Logging of these holes has been completed and sampling is well advanced with initial assay results expected to be received in March. All holes have successfully intersected the Duffer lode within a few metres of the interpreted position based on the offset lode model. Significant zones of mineralisation have been logged with primary intersections including: DTDD011: Quartz-chalcopyrite veins in zone of shearing /brecciation 104.7 - 106.1m; DTDD012: Shear zone overprinted by 25cm quartz-carbonate-pyrite--chalcopyrite vein 124.9m - 125.6m; DTDD013: Fault zone overprinted by a series of quartz-carbonate-pyrite-specular hematite veins 120.4 - 123.9m, DTDD014: Zone of quartz-carbonate-pyrite-chalcopyrite veins 163.5 - 171.8m; The first four holes have now been logged, and sampling has been completed with samples submitted to the laboratory for analysis.

Initial assay results are expected to be received in March. These holes form part of a 12-hole drilling program to test the recently discovered fault extension of the high-grade Duffer Lode from underground. This drilling program represents the next stage as sequentially explore the historic Dittmer mine and surrounding area.

The deposit remains untested at depth and to date has only been tested to approximately 200m below surface. This drilling program is expected to be completed in April, 2023 with assays to follow. Should sufficient extensions to known mineralisation be discovered, a study will be undertaken to determine the next steps in assessing the viability of reopening the mine to access new areas as well existing stopes, which are reported to be backfilled with relatively high grade material from the mines earlier operation in the 1940s.

These reports are supported by grab sampling completed by Ballymore in areas accessed during the mine refurbishment. Ballymore collected samples of the historic backfill in the stopes on 4 and 5 level with the results demonstrating that significant grade remains in the backfill material with all results exceeding 4g/t Au1. Results of historic backfill from the current rehabilitation and exploration program include: DITUG069 - 5 Level North Stope Fill Material - 81.7g/t Au.

DITUG036 - 4 level South Stope Fill Material- 7.96g/t Au, DITUG075 - 5 level South Stope Fill Material - 4.02g/t Au. Previous sampling of stope fill material in February 2021 also reported significant results including: 4 level South Stope Extension Fill Material - 12.35g/t, 4 level South Stope Extension Fill Material - 5.09g/t, 4 level South Stope Fill Material - 7.14g/t Au, 4 level South Stope Fill Material - 5.96g/t Au.