Caeneus Minerals Ltd. provided an exploration update on its highly prospective gold and base metals projects located in the Pilbara region of Western Australia. Roberts Hill Gold Project The Company has now designed and submitted a follow up series of 150 m deep RC fence line holes to test anomalous gold intersected in the Company's 2021 AC maiden drill program. The holes are designed to systematically test the scale and morphology of deeper sheared and mineralised bedrock intersected in previous AC drilling.

PoW submitted for ~1200 m follow-up RC drilling at the Roberts Hill gold project Roberts Hill drilling will test 5 separate AC gold targets including: RHAC147: 4 m @ 0.42 g/t Au from 80-84 m. RHAC176: 4 m @ 0.10 g/t Au from 4-8 m . PoW approved for RC resource infill & extensional drilling at E45/5827 within the Company' .100% owned Pardoo Ni-Cu-Co deposit Commitments received for a $1.7mil placement to fund ongoing exploration initiatives. The Phase 1 Pardoo RC drill program will focus on 50 m resource infill drilling to upgrade the historical Ni-Cu-Co resource to JORC 2012 measured and indicated classifications.

Whilst the Company plans to drill several new potential resource extensional holes, the initial focus of the PoW is to gain confidence by confirming the historical drilling and gain a strong understanding of the deposit geology and structural controls for the nickel mineralisation. The Company is conscious that its PoW activities coincide with robust nickel prices @ USD $28,596/tonne). The Company has made plans to commence earthworks and drill pad clearing for an initial 2000 m of RC drilling commencing mid-March.

Further information will be provided in relation to potential follow up initiatives as this program develops and results are interpreted by the team. Permitting for the Mt Berghaus tenements continues to progress, albeit slowly. The company is optimistic the DMIRS will grant the western portion of the Mt Berghaus tenements (E47/5896 and E45/5899) in the second quarter of 2022 .

Proposed aircore (Mt Berghaus) and RC (Roberts Hill) drilling will be conducted contemporaneously shortly after the granting of the Mt Berghaus tenement. In order to fund the program of work at Pardoo and future programs in the Mallina Basin, the Company has received firm commitments from sophisticated and professional investors to complete a placement of $1.7 million via the issue of 340,000,000 fully paid ordinary shares at a price of $0.005 with an attaching listed option.