Bardoc Gold Limited (ASX: BDC, Bardoc or the Company) is pleased to report highly encouraging initial results from its maiden 1,400m Reverse Circulation (RC) drilling program at the recently acquired North Kanowna Star Project, within its 100%-owned 3.02Moz Bardoc Gold Project, located 50km north of Kalgoorlie in Western Australia.

Assay results from the RC drilling completed at North Kanowna Star prior to Christmas, combined with a geological assessment of the deposit, have confirmed the presence of an extensive alteration system with significant gold mineralisation located below the existing oxide resource.

While exploration work at North Kanowna Star is at an early stage, the first program of RC drilling has returned significant widths of gold mineralisation within a possible large gold-hosting structure.

This confirms the Company's belief that the recently acquired projects at North Kanowna Star and Mayday North have been under-explored for the last 15 years and provide significant exploration upside for Bardoc Gold, with the potential for significant additions to the Company's project-wide Mineral Resource (Measured, Indicated and Inferred Resource of 49.426Mt at 1.9g/t Au for 3.022Moz).

In the meantime, work is well advanced on a Pre-Feasibility Study (PFS) based on the current 3.02Moz Mineral Resource and is on track to be finalised and reported to the market this quarter.

NORTH KANOWNA STAR

The North Kanowna Star deposit, comprising 32koz Au @ 1.4g/t Au, has had minimal exploration activity over the past 15 years. As such, it presents as a unique, under-explored, highly prospective gold exploration opportunity.

The scale of the alteration intersected in Company's recent drilling, with significant widths of alteration up to 45 metres encountered down-hole, suggest that the system is large.

Encountering this volume of highly anomalous material in first-pass drilling is an outstanding success, reinforcing the Company's focus on undertaking high-quality geological work that can lead to significant new discoveries and potential step-changes in its understanding of the mineralised systems present on the Bardoc Gold Project.

The results for this exploration work, beneath the known oxide JORC Mineral Resource, are reported at a 0.3g/t Au cut-off to give a better understanding of the extent of gold anomalism encountered.

All 11 holes drilled intersected mineralisation, the most significant intercepts being:

8m @ 1.26g/t Au from 132m in NKC190001;

17m @ 1.59g/t Au from 26m including 4m @ 4.44g/t Au from 33m in NKC190002;

4m @ 2.23g/t Au from 17m in NKC190006

16m @ 1.29g/t Au from 32m including 4m @ 3.34g/t Au from 32m and;

14m @ 1.68g/t Au from 82m including 4m @ 3.72g/t Au from 85m in NKC190007.

Work by Newcrest in 1999/2000 included a gravity survey that has an interpreted an intruded porphyry at depth below the oxide mineralisation. This work by Newcrest was never followed up nor expanded upon providing Bardoc with an outstanding opportunity RC drilling is scheduled to recommence at North Kanowna Star this week with geophysical targeting and diamond core drilling being planned.

MAYDAY NORTH

RC and diamond drilling is continuing at the Mayday North Project, with assay results expected to be received in the coming weeks.

MANAGEMENT COMMENTS

Bardoc Gold's Chief Executive Officer, Mr Robert Ryan, said the highly encouraging early results from North Kanowna Star demonstrated the scale of the opportunity at the recently acquired deposit.

'When we acquired North Kanowna Star last year, we had a very positive view on the potential upside at the project given that it had seen virtually no exploration over the past 15 years. That view has been firmly vindicated by these early results from a limited program of RC drilling completed prior to Christmas.

'This is the first time a focused exploration program has tested the extensions of the supergene mineralisation into fresh rock, and it has provided multiple mineralised intercepts - importantly within much broader zones of alternation and anomalous gold that suggests we have a very fertile gold system on our hands at North Kanowna Star. A follow-up program of RC drilling will start later this week to in-fill previously drilled sections.

'At the same time, we are planning diamond core drilling to help us gain a better idea of the structural controls in parallel with geophysics, to help determine where the source of the mineralisation may be.

'The Company will continue to grow its satellite projects to ensure that any potential operation at the Bardoc Gold Project will have a long, sustainable life. Our Pre-Feasibility Study based on the existing 3.02Moz Resource are well advanced and will be released later this quarter.'

NEXT STEPS

RC and diamond core rig at Mayday North until later this week.

RC rig will move to North Kanowna Star for extensional and follow-up drilling targeting a high-grade gold feeder system.

Geophysical work being planned to better understand the location and influence of several deeper intrusive bodies at Mayday North and North Kanowna Star in order to develop a better understanding of their influence on the broader mineralising systems at each project.

BARDOC GOLD PROJECT - BACKGROUND

The Bardoc Gold Project was formed in October 2018 following completion of the merger between Excelsior Gold and Spitfire Materials, bringing together significant resources and excellent potential for growth. The Project runs contiguously north for 40km in the Eastern Goldfields. There are four main deposits and a multitude of smaller projects within the 250km2 landholding, providing a large Resource base and excellent exploration potential within the prolific Norseman-Wiluna greenstone belt and junction of the Bardoc Tectonic Zone (BTZ) and the Black Flag Fault (BFF). These two deep-seated crustal structures host many multi-million-ounce deposits, including the worldrenowned Golden Mile in Kalgoorlie.

DISCLAIMERS AND FORWARD-LOOKING STATEMENTS

This announcement contains forward looking statements. Forward looking statements are often, but not always, identified by the use of words such as 'seek', 'target', 'anticipate', 'forecast', 'believe', 'plan', 'estimate', 'expect' and 'intend' and statements that an event or result 'may', 'will', 'should', 'could' or 'might' occur or be achieved and other similar expressions.

The forward-looking statements in this announcement are based on current expectations, estimates, forecasts and projections about Bardoc and the industry in which they operate. They do, however, relate to future matters and are subject to various inherent risks and uncertainties. Actual events or results may differ materially from the events or results expressed or implied by any forward-looking statements. The past performance of Bardoc is no guarantee of future performance.

None of Bardoc's directors, officers, employees, agents or contractors makes any representation or warranty (either express or implied) as to the accuracy or likelihood of fulfilment of any forward-looking statement, or any events or results expressed or implied in any forward-looking statement, except to the extent required by law. You are cautioned not to place undue reliance on any forward-looking statement. The forward-looking statements in this announcement reflect views held only as at the date of this announcement.

Contact:

Tel: (08) 6215 0090

Email: admin@bardocgold.com.au

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