Far East Gold Limited announce that initial results of the Agam Zone resource delineation drill program have confirmed extension of the wide quartz vein and breccia zone that was intersected within the Phase 1 drillhole RRD004. The Company previously reported on the results and
significance of RRD004 on December 13, 2022. The delineation drill program at the Rek Rinti prospect area is being completed as part of the Company's Phase 2 drill program at the Woyla project. Initial Phase 2 drilling at Rek Rinti has confirmed lateral extension of the wide, massive quartz zone that was intersected in the Phase 1 drillhole RRD004, which intersected 56m (true width) of massive quartz and quartz breccia. Assays across the Agam Zone reported 3.43 g/t AuEq over 30m (from 98-128m), included 8.9 g/t AuEq over 8.1m (102.4-110.5m) and 27 g/t AuEq over 2m (108-110m) and peak assay results of 78 g/t Au, 631 g/t Ag over 0.5m (108.6m). The Company interpreted the wide quartz intersection to represent a zone of dilation or flexure within the Agam Zone in response to fault activity during vein development. Phase 2 drillhole AGM004 drilled 50m along strike to south of RRD004 intersected approximately 30m of massive quartz and quartz breccia similar to that intersected in hole RRD004. Furthermore,
drill core observations confirm the occurrence of crustiform and colloform banded quartz with ginguro within the massive quartz. Initial handheld pXRF readings of the drill core indicate Ag and Au bearing minerals are present as part of finely disseminated black sulphides present within the ginguro bands. The Company is very encouraged by the continuity of the massive quartz zone along strike and the presence of Au-Ag mineralization contained within it. The Company has also completed the first of 11 planned 50m infill drill sections as part of the Agam Zone resource delineation. This initial section was completed on the RRD004 drill section. An interpreted geological cross section of the Agam Zone has been prepared by the Company. The zone is constrained by brittle faults showing evidence of repeated deformation and locally intense clay ± pyrite alteration. The outer margins of the zone are characterized by the occurrence of quartz stockwork veins with the interior of the zone dominated by massive to locally vuggy quartz breccia and discrete lenses or veins of massive crystalline quartz. Both show textural evidence of multistage emplacement. Assays received from the Phase 1 drill program at Rek Rinti indicate that gold-silver mineralization is best developed (e.g. ginguro bands) within the massive quartz and quartz breccia. This characteristic is typical of many high-grade epithermal vein and breccia systems including Gosowong. The Phase 2 resource delineation drill program within the Agam Zone will continue using 2 diamond drills. The Company plans to release information for each drill section within the Agam Zone when final assays for each section are received.