KGL Resources Limited reported that the recent resource development drilling program of the Rockface deposit was successfully completed on 12 December 2021, and that all final assay results have now been received. Work has commenced on an update to the mineral resource model for Rockface and, together with the already finalised Reward and Bellbird resource estimates, will form the basis for revised and optimised feasibility study mine designs. Rockface drill intersections above 1% copper cut off.

Like Reward and Bellbird, Rockface assays broadly confirm the existing mineral resource model and will result in refinements to the geological interpretations. The results also confirm the discovery of a higher- grade domain located near the western margin of the Rockface North lode. A longitudinal projection of the lower portion of the Rockface North lode, plotting the positions of the relevant copper intercepts.

The information in this announcement that relates to Exploration Targets and Exploration Results is based on data compiled by John Levings BSc, a Competent Person who is a Fellow of The Australasian Institute of Mining and Metallurgy. Mr. Levings is Principal Geologist for the Company. Mr. Levings has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity, which is being undertaking to qualify as a Competent Person as defined in the 2012 Edition of `Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'.

Mr. Levings consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears. The following drill holes were originally reported on the date indicated and using the JORC code specified in the table.