Gold Hydrogen Limited announced that the Directors of Gold Hydrogen Limited confirmed that the Company's contractor, Xcalibur Multiphysics, has commenced acquisition of the Stage 1 non-invasive 10,529-line km at 500-metre spacing airborne gravitymagnetic-digital terrain survey across the mainland component of Ramsay Project (PEL 687) in South Australia. In February 2023, the Company received approval for the conduct of the survey from the South Australian Government Department for Energy and Mining under Section 74(3)(a) of the South Australian Petroleum and Geothermal Energy Act 2000, and has also completed all necessary compliance requirements to commence the survey. The Stage 1 survey has now commenced, and is estimated to take three weeks, subject to weather interruptions.

Upon completion of the survey, the data will be processed and integrated with Gold Hydrogen's static and dynamic subsurface models. Often after this interpretation is complete, the resulting elevated subsurface definition across the surveyed area can be broken down into geological domains, prioritized by prospectivity, and also act as guide for future activities, which enables operations to be more focused and less impactful to surface owners and the community. The acquisition of this new data is a valuable exploration tool in defining new subsurface structures and differentiating rich natural hydrogen source rocks around and away from the historic natural hydrogen occurrence at the Ramsay Oil Bore 1. This high-resolution survey is designed to enhance knowledge of the distribution of rich natural hydrogen source rocks - and with the interpreted results - compare them with (i) the historic bore laboratory analysis results that had a very high natural hydrogen content of between 66% and 89%, (ii) the gas-soil survey results scheduled for April 2023, and (iii) the ongoing fluid inclusion core analysis results expected in May 2023.

Data produced from the airborne survey will be incorporated in both static and dynamic subsurface models, and will become a strategic tool for high-grading potential areas for further seismic acquisition, play, lead, and prospect analysis, new drilling, and associated production testing to support maturing the Company's independently assessed Prospective Resource, advancing the title to a production license, and generating a field development plan.