Heavy Minerals Limited announced that drilling is set to commence in the last week of November at its' 100% owned Port Gregory Project. Specialist Mineral Sands Driller, Bostech Drilling has been engaged to drill a 130 hole ~4,600 metre Air Core program designed to improve the classification of the existing JORC Mineral Resource prior to commencing a pre-feasibility study and to also potentially increase the total resource based on extension drilling to the east, north and south. The Company anticipates receiving assay results in February 2023 with a resource update planned for March 2023.

The Company also plans to commence a maiden 1,400 metre Air Core drilling program at Red Hill after completing its drilling at Port Gregory (late December /early January). Assay results for the Red Hill Program are anticipated to be received in March 2023 with a resource being released in April 2023 pending positive results. Timing for release of results for both drilling programs are subject to laboratory throughput capabilities and HVY interpretation and compilation.

The Company has recently completed a three line kilometre DGPR survey at Port Gregory and a 3.5 line kilometre DGPR survey at Red Hill. These surveys will aid in the interpretation of the upcoming drill programs and will potentially highlight any significant sand packages at Red Hill. The infill and extension drilling program at Port Gregory, is planned to begin on November 23rd 2022.

The objective of this program is to infill the existing drilling to improve the classification of the existing resource an to extend the current resource by drilling the open extensions to the east, north and south. Company has completed a three line kilometre DGPR survey which was planned to confirm the thickness of the sand package prior to drilling and to confirm the limestone basement. The maiden Air Core drilling program at Red Hill, is planned to begin after the Port Gregory program (late December /early January).

The objective of this program is to delineate a potential resource based on exciting results generated by the company during an Auger program earlier in the year. The company has completed a 3.5 line kilometre DGPR survey which was planned to confirm the thickness of the sand package prior to drilling and to confirm the limestone basement.