Metal Bank Limited provided an update on exploration at its Livingstone gold project in Western Australia (75% MBK). Assays from the first 13 RC holes at Livingstone North have been received. The holes formed part of the Livingstone Phase 2 drilling program, completed in early September.

Results from the remaining holes are expected in the next two to three weeks. First gold assays from the Livingstone North prospect return up to 14.10g/t Au Results from an initial 13 reverse circulation (RC) drillholes at Livingstone North prospect have been received, with assays including: o 4m @ 3.04 g/t Au from 42m (LN22RC007) o 1m @ 10.80g/t Au from 47m (LN22RC011) o 3m @ 5.72g/t Au from 11m (LN22RC012), Including 1m @ 14.10g/t Au o 4m @ 1.82g/t Au from 41m (LN22RC004) o 6m @ 1.72g/t Au from 66m (LN22RC002) Additional results expected in the coming weeks with results to guide exploration drilling for a Maiden Resource in 2023 New Gold-in-Soil anomaly identified 2km due east of Livingstone North. Livingstone North RC results Initial results have been received supporting both historically reported high grade gold zones and showing mineralisation of substantial strike extent beyond artisanal mine workings.

Results will be interpreted in the context of MBK's updated structural review of mineralisation at Livingstone, which has demonstrated that known mineralisation is situated in the damaged footwall of low angled thrust faults, with potential for the existence of blind mineralisation beneath the thrust structure. Gold-bearing sites are controlled by competent, brittle lithologies such as quartz veins, quartz pods, and psammite units and are now interpreted to be located in the brecciated footwall of the newly identified thrust faults. Modelling of gold mineralisation in this context will be undertaken upon receipt of the results from the remaining holes, which are expected in the next two to three weeks, to support an initial Exploration Target for the Livingstone North project and guide exploration drilling for a maiden gold Resource in 2023.

New Soil anomaly; A 700 x 200m Au-in-soil anomaly has been identified from recent work in a zone 2km to the east of Livingstone. The area was selected for soil sampling due to a gap in historical data. Assays have returned Au in soil values of up to 203.4ppb and occur in a zone along strike from the Livingstone North `thrust' system.

Although at an early stage, there is a possibility this represents an extension of the Livingstone North system, particularly given the recent development in understanding of the structural architecture of the region. Ripe for further ground mapping and, ultimately drilling, this rea represents yet another Au target in a well-endowed tenement package. Livingstone Project; The Livingstone Project is an advanced gold exploration project with ~80,000oz2 of defined gold resources and multiple exploration targets.

Located 140km northwest of Meekatharra in Western Australia, it includes 395 km2 of granted exploration licences covering the entire western arm of the Proterozoic Bryah-Padbury Basin (host to the Fortnum, Horseshoe and Peak Hill gold deposits and >2Moz Au endowment). The Livingstone Project provides: a JORC 2004 Inferred Resource of 49,900oz Au3 at the Homestead prospect with potential for expansion; the Kingsley deposit hosting JORC 2012 Inferred Resource of 30,500oz Au4; the Kingsley Exploration Target of 290 - 400kt at 1.8 -2.0 g/t for 16,800 - 25,700oz Au4; the Livingstone North prospect with extensive Au-in soil anomaly, historical mining activities and historical high-grade drilling intersections; multiple advanced gold targets, inadequately tested to date including Hilltop, Stanley, Winja, Winja West, VHF; multi element targets including Kirba (Ni) and Iron Ore (Fe); and over 10 regional greenfields targets identified by independent experts with 40km prospective strike length.