First Au Limited provided the following update on further assay results from the Dogwood Porphyry Copper and Gold project. The latest results continue to indicate the potential of the project, with the deepest hole of the program producing multiple mineralised intersections: DGWDDH004: 0.2m @ 0.32% Cu and 1.7% Zn from 241.7m, DGWDDH004: 0.1m @ 0.14% Cu from 322.3m, DGWDDH004: 0.6m @ 0.24% Cu from 322.4m (ending in mineralisation. These assay results follow previously announced initial assays which highlighted extensive zones of copper and gold mineralisation with Cu grade of > 0.8% and Au of 5.62 g/t1.

The exploration drilling program focussed on establishing the extent of Cu and Au mineralisaiton across a large (~4 x 2 km) area. As such, drill testing at depth was limited to one hole to ensure that the drilling tested all targets generated based on the review of the geophysical, geochemical and historic drilling assay datasets. Hole 4, which intersected the Cu-Zn mineralisation was drilled ~200m north of Hole 1 where over 70m downhole disseminated Cu mineralisation including 0.5m @ 0.807%1 Cu was intersected.

With historic CRA drilling intersecting 2m @ 7.94 g/t Au2 ~1.2km east of FAU's Hole 1 and Cu mineralisation to the west, the Dogwood polymetallic mineralisation footprint extends >2km across the project area. Given Hole 4 ended in Cu mineralisation, demonstrated a downhole increasing magnetic susceptibility, increasing presence of potassic alteration and veining downhole while also intersecting Cu and Zn mineralisation and was the only hole drilled to ~320m depth, there remains considerable depth potential beyond the bottom of hole in Hole 4 as well as under the previous Holes 1, 2 and 3 which were drilled to considerably shallower depths by comparison. FAU Geologists are highly encouraged with the recent results and are preparing a subsequent RC drilling exploration program to test beneath Hole 4, to further define the strike and depth extent of the Cu mineralised granodiorite intrusion intersected in Holes 1 & 2 and evaluate economic hypogene Cu potential.

The evolving nature of the Dogwood system highlights the limited nature of work and research that has been conducted on resolving mineral deposit styles in the Victorian East Gippsland. However, the 2010 USGS Scientific Investigations Report 2010-5090-L prepared in cooperation with Geological Survey of New South Wales and Geoscience Australia, identified the Dogwood Project area as prospective as part of its Porphyry Copper Assessment of Eastern Australia. The mineralised granodiorite porphyries intrude into a series of predominantly south dipping, massive quartz-rich wackes, minor silt and shale sedimentary units and rhyolitic felsic volcanic sequences.

The geology has been mapped by the Geological Survey of Victoria as Ordovician Pinnak Sandstone, however it is likely younger and either Silurian or Devonian. The latter timing is associated with the Early Devonian crustal extension resulting in the development of the Buchan Rift which is less than 10km to the east of the Dogwood Project. The Devonian Kaerwut Tonalite Intrusion outcrops on the north of the project area and may be a fractionated relative of the porphyritic granodiorite unit intersected in Holes 1 & 2. Across the project area, geological logging and petrophysical magnetic susceptibility readings highlighted an increase in higher temperature alteration associated with biotite and magnetite (potassic) and sulphides with depth as indicated by Hole 4.