Forrestania Resources provided an update on exploration activities from its Eastern Goldfields Project area. The Company's Eastern Goldfields Project is located north of Kalgoorlie around the gold mining districts at Leonora and Menzies. The project area comprises nine tenements that are strategically located over areas that the Company believes are highly prospective for large scale, multi commodity discoveries.

After completing an aeromagnetic geophysical survey over the Goongarrie tenement earlier in the year, the Company is pleased to confirm exceptional results, with several new greenstone areas confirmed. Exceptional nickel and gold pathfinder results have also confirmed the strong exploration potential at Goongarrie (E29/1103). Additionally, the Company has applied for two exploration licences in the region (E29/1215 and E29/1216), immediately adjacent to the east of the Goongarrie project (E29/1103) and in close proximity to the recently granted Goongarrie North (E29/1158).

Goongarrie (E29/1103): An interpretation of the geophysical, aeromagnetic data has been undertaken by Southern Geoscience Consultants (SGC), with the interpretation helping to increase the understanding of the local geology and delineating significant areas of greenstone within the Goongarrie project area. Additionally, the geophysical survey and geological interpretation by SGC has helped to identify a number of target areas for follow up exploration, with several highly magnetic units and zones of interpreted mafic/greenstone units. Exceptional results have also been received from geochemical samples collected at Goongarrie.

These results coincide with key structural features that have been defined by the Company's aeromagnetic survey. The geochemical and geophysical survey results underpin a number of exciting and highly prospective areas for further work at Goongarrie. As a result of the Company's field reconnaissance trips, a significant number of rock chips with anomalously high levels of bismuth, silver and molybdenum have been sampled, as well as significant nickel, chromium, cobalt and gold from the soil programmes.

These new results also complement anomalous gold geochemical assays from historic auger programmes, undertaken at the prospect in 2007 and 2011. Furthermore, an anomalous trend of nickel mineralisation (~1.2km) from the soil samples, with associated chromium has been confirmed from the Company's field programmes, completed in the south-west corner of Goongarrie. This anomalous trend also coincides with an interpreted zone of very strong magnetic intensity.

An area that SGC have interpreted to be a high priority target. The Goongarrie region is a newly emerging nickel province, with the announcement by Resources & Energy Group (Magmatic nickel sulphides confirmed at East Menzies Springfield project ­ 11 January 2022) and the proximity to Ardea Resources' Kalgoorlie Nickel Project (KNP) with a resource of 5.9Mt contained nickel and 384kt contained cobalt which includes the high-grade "Goongarrie Hub" ~15km away. Furthermore, the KNP has been awarded Major Project Status by the WA Government and is ranked #1 by the Geological Survey of Western Australia in terms of resource size at ~830Mt.

As such, the anomalous nickel trend, recently defined by the Company, further increases the strong exploration potential at the Goongarrie project. The excellent geophysical survey results and the geological interpretation by SGC which has interpreted greenstone within Goongarrie and the adjacent ground, have given the Company the opportunity to identify other target areas. As a result, FRS has applied for two additional exploration licences (E29/1215 and E29/1216) to consolidate further, its position in the Eastern Goldfields.

The Company has completed further reconnaissance trips to map and undertake additional rock chip and soil sampling at Goongarrie, with additional assays pending.