Kairos Minerals : New gold target identified, Mount York Project

ASX ANNOUNCEMENT13 January 2022

Significant new gold target identified at Mt York, with

only			Highlights
•	New high-priority target confirmed at the Steamboat prospect, located ~500m south-east of the
use		Old Faithful deposit, with anomalous rock chip samples of up to 4.6g/t Au returned - minimal
	historical exploration undertaken in this area.
•	Results received from only 175 of a total of 392 rock chip samples collected at Mt York during
	the 2021 field season.
	•	Drone survey and mapping completed for the Steamboat prospect, with drilling planned for the
		start of the 2022 field season.
	•	Heritage survey completed for the new target area with all approvals for drilling in place.
	•	Assay results received for five more holes drilled at the 873,500oz Mt York Project last year,
		with best new intercepts including:
personalcurrent 873,500oz Mineral Resource inventory at Mt York is a great way to start the New Year. Given the
		•	80m @ 0.93g/t Au from 108min KMYC183, including:

anomalous rock chip samples of up to 4.6g/t Au

New target located 500m south-east of cornerstone Old Faithful deposit represents another exciting

new exploration opportunity outside of the existing 873,000oz Resource

o 12m @ 2.73g/t Au from 108m, ando 4m @ 6.16g/t Au from 108m, ando 4m @ 2.37g/t Au from 172m, ando 4m @ 2.12g/t Au from 184m.

Kairos' Executive Chairman, Terry Topping, said: "The discovery of an exciting new gold target outside of the

proximity of the Steamboat prospect to the existing Old Faithful deposit and the strength of the surface rock chip samples and mapping, this is shaping up as a priority focus for our exploration activities at Mt York in 2022.

For"The discovery of new zones with the potential to increase our resource base is an exciting development and we are looking forward to returning to this area with drilling during the 2022 field season. We have already completed an extensive drone survey and mapping for the new Steamboat prospect and heritage surveys have already been completed and approved.

"The slow turnaround of assay results remains an ongoing industry-wide frustration, and we are still awaiting assays from a significant number of holes drilled at Mt York last year. That said, we are continuing to see some very encouraging results which will be incorporated into a future resource upgrade and ongoing mining studies. We look forward to updating the market on numerous other upcoming gold and lithium exploration activities in the near future and reporting additional results from RC and aircore drilling completed last year."

T [phone] Level 1, 43 Ventnor Avenue, West Perth WA 6005

kairosminerals.com.au ABN 84 006 189 331 ASX: KAI

Figure 1: Steamboat prospect drone survey image and rock chip sample location.

onlyuse

personalKairos Minerals Ltd (ASX: KAI; "Kairos" or "the Company") is pleased to advise that it has identified a significant new greenfields gold target located outside the current Mineral Resource base at its 100%-owned873,500oz Mt York Gold Project located in the Pilbara region of Western Australia.

The Company has received highly encouraging assay results received from rock chip samples collected at the newly-identified Steamboat prospect, with values up to 4.6g/t Au.

In addition, the Company has received assay results from five more Reverse Circulation (RC) holes drilled last year at the Mt York Project. Assay results are pending for 23 drill holes.

The results from the rock chip sampling and drilling programs are described in more detail below.

ForSteamboat Prospect

The first-stage geochemistry sampling program conducted by Kairos geologists and contractors identified a new target area, located approximately 500m south-east of the Old Faithful deposit, with anomalous rock chip samples of up to 1.1g/t Au coincident with an arsenic-in-soils anomaly trend (see ASX announcement 24 September 2021). The anomalous gold results were returned from brecciated cherts and BIFs.

The Company followed up the initial results with a drone survey, rock chip sampling and a heritage survey. Kairos has received initial results from the second-stage rock chip sampling program, with assays of up to 4.6g/t Au confirming and extending the target area. The high-resolution drone survey assisted the field mapping, and a digital terrane modelling (DTM) was generated (Figure 1). Critical geological features were observed from the drone survey and will assist with further mapping and drill-hole planning.

T [phone] Level 1, 43 Ventnor Avenue, West Perth WA 6005

kairosminerals.com.au ABN 84 006 189 331 ASX: KAI

A heritage survey was conducted over the target area late last year in order to obtain access clearances for drilling.

The list of rock chip samples collected within this new target area is provided at the end of this announcement onlyin Table 1.

Mount York RC Drilling Program

Kairos has received assay results from five more RC drill holes completed at the Mt York Project. KMYC183 returned exceptional assay results and extended a historical thick intercept of 117.4m @ 1.97g/t Au some 50m down-dip (see Figure 3 for a cross-section). The results are from four-metre composite samples, with one sample returning 4m @ 6.16g/t Au from 108m.

Drill-hole KMYC187 returned a significant result of 28m @ 0.85g/t Au from 76m in "the Gap" area west of the usehistorical Breccia Hill pit, where minimal historical drilling has been conducted. This result included a zone of

4m @ 2.22g/t Au from 100m.

Significant results from the last assays received are reported below:

• 80m @ 0.93g/t Au from 108min KMYC183, including:

• 1. 12m @ 2.73g/t Au from 108mand 4m @ 6.16g/t Au from 108m, including:
  1. 4m @ 2.37g/t Au from 172m, and
  1. 4m @ 2.12g/t Au from 184, and
  1. 4m @ 0.98g/t Au from 184m.
• 4m @ 0.68g/t Au from 84m in KMYC184, and
• 1. 4m @ 0.56g/t Au from 116m, and

1. 4m @ 0.73g/t Au from 132m, and

• 1. 8m @ 2.06g/t Au from 172m, including
  1. 4m @ 3.37g/t Au from 172m.
• 56m @ 0.99g/t Au from 96m in KMYC186, including
• 1. 4m @ 3.38g/t Au from 108m, and

personal	o 4m	@ 2.61g/t Au from 148m.
• 28m @ 0.85g/t Au from 76m in KMYC187, including:
	o 4m	@ 2.22g.t Au from 100m.

• 8m @ 1.31g/t Au from 96m in KMYC188, and o 8m @ 0.53g/t Au from 128m

ForAssay results are pending for 23 drill holes.

All of the assay results received to date are from four-metre composite samples. The single-metre samples are being collected, according to the results obtained from the composite samples, and submitted to Intertek Laboratories in Perth for gold and multi-element analysis.

The list of drill-holes and significant intercepts is provided at the end of this announcement in Table 2.

T [phone] Level 1, 43 Ventnor Avenue, West Perth WA 6005

kairosminerals.com.au ABN 84 006 189 331 ASX: KAI

For personal use only

Figure 2: Plan view of the area showing the drill holes with the latest assay results.

T [phone] Level 1, 43 Ventnor Avenue, West Perth WA 6005

kairosminerals.com.au ABN 84 006 189 331 ASX: KAI

use only
personal	Figure 3: Schematic cross-section with the recent assay results from hole KMYC183.
N xt Steps
	• Further assay results from the Mount York RC drilling.
	• Results for the in-fill AC drilling program at the Kangan Project.
For	• Gold and lithium target generation from previous exploration.
• Mining studies for the Mt York Project.

• Analysis of regional geochemistry sampling from Mt York, Wodgina, Kangan and Skywell Projects.

• Additional heritage surveys at the Kangan and Skywell Projects.

• Gold and lithium exploration at Roe Hills.

T [phone] Level 1, 43 Ventnor Avenue, West Perth WA 6005

kairosminerals.com.au ABN 84 006 189 331 ASX: KAI