Western Australian gold explorer BMG Resources Limited (ASX: BMG) (BMG or the Company) is pleased to provide an update on exploration activities at the Company's 100% owned Abercromby Gold Project in the north-eastern goldfields of WA.

The next phase of diamond drilling (DD) has commenced, and the follow-up program of regional aircore drilling is complete.

The DD program at the greater Capital prospect area comprises 8 holes for 3,700m, and is aimed at resource definition and extension of the high-grade gold lodes identified to date. 57 regional aircore holes for 5,428m across three large gold anomalies have now been completed.

The anomalies were identified by recent sub-audio magnetics and aircore drilling completed earlier this year in the southern portion of BMG's Abercromby tenure. Two more aircore holes are planned for early July. Both programs build upon the successful drilling campaigns completed at Abercromby earlier this year which more than doubled the size of the resource envelope - refer ASX results announcements on 26 April 2022 'Assays Confirm Significant Extensions of High-Grade Gold at Abercromby Project' and 2 May 2022 'Aircore Highlights Significant Regional Gold Potential at Abercromby'.

BMG Managing Director Bruce McCracken said: 'It's fantastic to have a diamond rig back on site at Abercromby to build on the success of our drilling campaigns completed just a few months ago. 'We've also made great progress over the past month with the follow-up air-core drilling of the large regional gold anomalies identified to the south of Capital, which has now wrapped-up

'These programs will continue to delineate the significant high-grade orebody at Capital as we progress towards maiden resource definition and test gold anomalies to the south identified by recent SAM and aircore drilling. 'These are exciting times for the Company, and we look forward to updating investors as our drilling progress continues and results come to hand.'

Diamond Drilling

About 3,700m is planned to be drilled over the next 3 months. Initially, drilling will focus on extending and infilling southern extensions of the Capital mineralisation.

The planned holes include a 650m re-drill of 21ABDD004, which suffered terminal drill rod failure at 360m prior to its target depth designed to test extents of the West Lode. As previously announced, 21ABDD004 intersected 10m @ 11.71 g/t Au from 295m in the East Lode, 250m south of the existing mineralisation, confirming a very significant depth extent to the shallow high-grade mineralisation at Capital. The drilling will also test around the deeper intersection returned from the West Lode in 21ABDD003 which intersected 13.8m @ 6.56m g/t Au from 446m.

About the Abercromby Project

The Abercromby Project is located on the Wiluna Greenstone Belt, one of Western Australia's most significant gold-producing regions with a gold endowment of +40Moz Au - second only to Kalgoorlie globally in terms of historic production. Mineralisation at Abercromby is hosted by the Perseverance Shear, a regional structure supporting large resources along its strike.

Contact:

Bruce McCracken

Tel: +61 8 9424 9390

Email: enquiry@bmgl.com.au

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