Black Cat Syndicate Limited announced an update to the JORC 2012 Mineral Resource, for Majestic, at the Kal East Gold Project. HIGHLIGHTS: Drilling at the Majestic Mining Centre in the second half of 2021 was focussed on upgrading the underground Resource from Inferred to Indicated ahead of a planned maiden Ore Reserve to be released in the March 2022 quarter. As a result, the Underground Indicated Resource at Majestic Mining Centre has increased by 43% to 1.0Mt @ 4.5 g/t Au for 143koz.

Total Resources at the Majestic Mining Centre have increased to 7.9Mt @ 2.0 g/t Au for 507koz. Black Cat's total Resources at Kal East have grown to 18.3Mt @ 2.2 g/t Au for 1,272koz. High grade lodes in the Majestic underground remain open down plunge and will be drilled from underground positions after the commencement of mining.

Works Approval has been granted for the construction of the planned 800ktpa processing facility at Majestic. Majestic is located on a granted mining lease immediately adjacent to Black Cat's approved processing facility location. The area was open pit mined between 2016 and 2018 for 1.4Mt @ 2.45 g/t Au for 113,393oz 1. The Majestic and Imperial pits were the main producers with incremental ounces from the Majestic West pit.

Mineralisation generally strikes North-South with a combined strike length for Majestic and Imperial of 950m and moderate to steep westerly dip. Majestic remains open down dip with excellent results announced recently including: 0.41m @ 108.00 g/t Au from 401.15m (21IMDD006), 0.82m @ 83.50 g/t Au from 391.8m (21IMDD015), 1.01m @ 26.60 g/t Au from 332.3m (21IMDD010). This Resource update incorporates all drilling to 31 December 2021.

Drilling during the second half of 2021 focused on upgrading Inferred Resources to Indicated for inclusion in maiden Ore Reserves. MAJESTIC WORKS APPROVAL: The Department of Water and Environmental Regulation (DWER) has granted Black Cat's Application for Works Approval. The proposed works include construction and operations for the following: a conventional crush ­ grind ­ gravity /carbon-in-leach (CIL) processing plant with a nominal throughput of 800,000 tonnes per annum of gold ore; a process water pond and power station; a two cell paddock style tailings storage facility (TSF) 3 with associated infrastructure; and construction of a dewatering pipeline from the Majestic pit.