Moho Resources Limited announced that a new phase of Reverse Circulation (RC) drilling has commenced at its prospective 100%-owned Dukes and Ni Target areas T3 and T4 at the Silver Swan Nickel Project in Western Australia. The Silver Swan North is located 40km north of Kalgoorlie in WA's and is directly west of the Silver Swan nickel mine. This phase of drilling is designed to further unlock the nickel potential of the Silver Swan North Project and reflects the Company's commitment to comprehensively test the project area for komatiite hosted nickel sulphides.

At Dukes a soil sample program outlined a coincident Ni-Cu anomaly overlying a magnetic high being interpreted as an ultramafic sequence. At present access is limited to drilling along fence lines. One trending E-W and the other trending N-S. Three holes are planned along the E_W fence targeting the komatiite footwall contact.

Another two holes are planned along the N-S fence again targeting komatiite and its footwall contact. Ni Target areas T3 and T4 are located approximately 10km to the south and are less than 5km east of the Silver Swan Nickel mine. The area has been tested with RAB drilling by NiQuest more than 10 years ago and several coincidental Ni-Cu intersection anomalies have not been properly followed up.

Two holes are planned at T3 with RAB hole ESR143 intersecting 30m @ 1633ppm Ni and 222ppm Cu targeting the komatiite footwall contact. Another three holes are planned at T4 with historic RAB hole SR131 intersecting 10m @ 2800ppm Ni and 138ppm Cu and ESR219 intersecting 10m @2000ppm Ni and 449ppm Cu, again targeting komatiite and its footwall contact. NEXT STEPS: Submit RC drill samples for assaying; Heritage survey over relevant area of tenements for further drilling operations to be completed; Undertake infill and additional soil geochemical sampling over komatiitic sequences not previously sampled; Model geology and assay results to target further drilling over target areas.

Moho's Interest in Silver Swan North Tenements: Moho is the 100% registered owner of granted tenements M27/263, E27/528, E27/626, P27/2232, P27/2390, P27/2441, E27/613, E27/623 and E27/633 and applications for E27/641, P27/2456, E24/235 and E27/687 all of which comprise the Silver Swan North Project. The Company has also signed option agreements to acquire M27/488, P27/2200, P27/2216, P27/2217, P27/2218, P27/2226 and P27/2229. In October 2021, Moho entered into a binding Heads of Agreement with Yandal Resources Ltd. (Yandal).

Under the Agreement, which is still subject to due diligence conditions, in exchange for a 1.0% Net Smelter Royalty, Moho will acquire from Yandal the exclusive right to access, explore for, own, mine, recover, process and sell all nickel, copper, cobalt and Platinum Group Elements extracted from the and associated minerals on 15 granted mining tenements held by Yandal. The Company will also vend four mining tenements under option and a tenement application to Yandal while retaining the rights for nickel and NSR gold royalties.