Godolphin Resources Limited advised that it has commenced a two hole 700m Diamond Drilling ("DD") program at its 100%-owned Gundagai South Gold Project, drilling the Surprise Hill North and Big Ben prospects located on EL8061. The Gundagai South Gold Project is centred around the Gundagai township and located in the southern area of the Lachlan Fold Belt. The area has a longstanding and successful history of high-grade gold mining.

Godolphin's tenements host several historic gold and base metals workings, situated within a belt of basaltic rocks intruded by quartz-porphyry dykes. The Company's planned two-hole diamond drill exploration program will cover a total of approximately 700m. The program includes an initial 500m hole at the Surprise Hill North project with a 200m hole at Big Ben to follow.

The two drill holes are being drilled to build on the geological understanding of the projects and at Surprise Hill North specifically to test an area of multiple porphyry dykes that are known to host gold mineralisation in the region. The drilling at Big Ben will test gold bearing sheeted quartz veins within a quartz feldspar porphyry exposed in a nearby quarry. A mapping campaign undertaken in October 2021 identified the sheeted quartz vein sets were in a different orientation to what had been previously interpreted and therefore had not been intersected by previous drilling.