The Lady Julie North 4 deposit has numerous thick new intersections and will be tested over an expanded 1km x 200m area. A 14 RC hole programme for 2040m (average 145m) has started. This will be looking to extend the high-grade core within the central part of the Lady Julie 4 Indicated and Inferred Resource of 2.7Mt at 1.27g/t for 109,000oz, with some of the previous high grade core results include 18m at 4.13g/t from 107m in MLJRC632, 14m at 3.87g/t from 42m in MLJRC439, 16m at 3.32g/t from 122m in MLJRC517, 37m at 2.41g/t from 60m in MLJRC442.

This drill programme is also looking to extend the length of the resource both to the North and South over a 1km length and down dip. If this drilling is successful it will increase the size of the Indicated and Inferred Resources at Lady Julie North 4. In addition, a shallow 23 RC hole for 1,016m (average 44m) programme will be carried out mainly in shallow Exploration Target areas looking to convert these into Resources. Magnetic has an Exploration Target of 2.6Mt to 3.6Mt at 0.94g/t to 1.2g/t Au for 109,000oz to 135,000 oz Au at a 0.5g/t cut-off.

This high-grade core zone is a promising thick zone and will be investigated with further infill holes to the north and importantly to the south where this mineralisation remains open. In addition, a strong pyrite chert alteration has been logged for the first time and correlates with his highest-grade part of the core zone that has 18m at 4.13g/t from 107m in MLJRC632. The extent of this alteration within the surrounding holes will be examined when the RC chip logging has been completed.

The Lady Julie 4 deposit is being investigated over an expanded 1kmx200m area and is open down dip and to the E and SSE, which augers well for the potential size and economics. The SSE direction is associated with a sinistral fault where the mineralisation is interpreted to be to the east of the main NS trend of the deposit. The Lady Julie North 4 deposit is only 2.5km North of the Lady Julie Central deposit which in turn is 2.5km NE of the HN9 deposit.

These three areas are all shallow deposits and in some cases, starting from surface providing low strip ratios and potential for economic ore that is open-cuttable and are effectively part of one mining centre. Maiden Combined Resources of 13.1Mt @ 1.22g/t Au totaling 511,000oz of gold at a 0.5g/t for the Laverton Project was announced on 27 June 2022. The Lady Julie North 4 (Indicated and Inferred) Resource of 2.7Mt at 1.27g/t for 109,000oz and forms part of the Lady Julie Combined Resources (Indicated and Inferred) of 5.4Mt at 1.27g/t for 224,000oz.

This long 1km x 200m target zone at Lady Julie 4 is being infill drilled with a programme of 14 RC holes for 2,040m with most of these holes looking to extend the down dip extent of the mineralisation at depth and to test the SSE extension and to fully define the thickened high- grade core. Note that many of these holes are aimed to test the exploration target and other areas outside the Inferred and Indicated resource and if successful will increase the size of the Indicated and Inferred resource at Lady Julie North 4. Ten large structural targets have been located mainly to the NE and S of Lady Julie Central after using the results of a structural study, together with historical aeromagnetics and gravity images, geochemical, drilling and geological mapping data. Particular attention is being paid to areas where NNW and NE- trending structures intersect known and interpreted porphyry intrusions mainly in the Lady Julie strip, in areas that have not been explored due to the thicker soil cover which obscure potential mineralisation within the Lady Julie NS trending 6.5km x 1.5km strip.

More than 80% of this strip is under cover and remains very prospective. Within the HN5, HN6, HN9 and Lady Julie areas there are many new shallow intersections with a total of 2001 intersections (ranging from 1 to 32m) greater than 0.5g/t Au, which includes 884 greater than 1g/t Au, 321 greater than 2g/t Au, 174 greater than 3g/t Au and 106 greater than 4g/t Au. At Hawks Nest 5, 6, 9 and Lady Julie extensive drilling programmes have been completed.

including 1,713 RC holes totaling 122,189m (average 71m depth) 30,515 2­5m composites and 20,141 1m splits, 255 AC holes totalling 9,708m 2,440 2-6m composites and 169 1m splits and 7 Diamond holes totaling 751m. This release is mainly reporting on 378 1m splits from 13 RC holes (MLJRC538,621-623,627,628,632- 636, 639 and 640) totaling 378m. Assays are pending for 3 Diamond holes for 302m.