Flynn Gold Limited provided an update on its exploration activities at the Company's 100% owned projects in Northeast Tasmania. Phase 2 Trafalgar Drilling: The Phase 2 drill program at Trafalgar, which will comprise step-out extensional and infill drilling, is scheduled to commence with at least one rig returning to site within two weeks. The Company anticipates that at least 2 drill rigs will be onsite to expedite the drill testing at its Trafalgar Prospect.

Drilling at the nearby Link Zone is also being planned to follow up on the anomalous results of the recent scout RC drilling program. Phase 1 Trafalgar Drilling: Phase 1 diamond drilling at the Trafalgar Prospect consisted of 7 diamond drill holes for a total of 3,204.5 metres. Selected samples from drill holes TFDD004, TFDD005B, TFDD006 and TFDD008 are currently with the laboratory for analysis, with additional core from TFDD005, TFDD007 and TFDD008 still to be submitted.

Reporting of results once received from the laboratory, will be released to the market. Portland Drilling: A drill rig has mobilised to the Popes Prospect located within the Portland Project to undertake a 1-2 hole drilling program which will be completed later in March 2023.