Moho Resources Limited announced that a new phase of Reverse Circulation (RC) drilling to follow up a coincidental Ni-Cu soil anomaly at the Dukes prospect and historic coincidental Ni-Cu RAB intersections at the Silver Swan North target areas T3 and T4, has been completed. These prospects are all located between 5 and 10 km from the Silver Swan Nickel mine 40km north of Kalgoorlie Western Australia. Program Summary: The Dukes prospect has been tested with an RC drill program at two locations along fence lines at a coincidental Ni ­ Cu anomaly outlined by a soil sample survey undertaken previously by Moho.

No historical drilling has been reported for this prospect. At the northern E-W fence line 3 drill holes intersected ultramafic lithologies with a massive gabbro overlying this sequence. Minor disseminated sulphides were observed.

At the southern N-S fence line 4 drill holes intersected the same ultramafic lithologies over a width of more than 200m, again overlain by a massive gabbro. Hole SSMH0150 intersected within the ultramafic sequence a more gabbroic lithology with over 10% disseminated sulphides from 53m to 66m. The overall appearance of the ultramafics lithologies and the lack of observed komatiite flow features such as spinifex textures or flowtops could indicate that the ultramafic at Dukes is a layered ultramafic intrusive sill rather than an extrusive ultramafic volcanic.

At Silver Swan North Ni Target area 3 the two completed holes intersected very few ultramafic lithologies. At Silver Swan North Ni Target area 4 three holes were completed. Drill hole SSMH0157 had to be abandoned at 138m due to excessive water flow after intersecting more than 100m of spinifex and cumulate textured ultramafics and about 20m of 5% to 10% disseminated sulphides at the bottom of the hole.

This phase of drilling was 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 which is interpreted as ultramafic lithologies. The limited drill access along existing cleared fence lines made it also not possible to install sumps to contain water.

The majority of the drillholes had to be abandoned due to excess freshwater flows, however two holes made it to target depth. At the northern E-W fence line 3 drill holes intersected ultramafics overlain by a massive gabbro overlying this sequence. Minor disseminated sulphides were observed within the ultramafics.

At the southern N-S fence line 4 holes were drilled which intersected the same ultramafic lithologies over a width of more than 200m again overlain by a massive gabbro. Hole SSMH0150 intersected a more gabbroic lithology within the ultramafic sequence with 10% plus disseminated sulphides from 53m to 66m. The overall appearance of the ultramafic lithologies and the lack of observed komatiite flow features such as spinifex textures or flowtops could indicate that the ultramafic at Dukes is a layered ultramafic intrusive sill rather than extrusive komatiitic flows.

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 was tested with RAB drilling by NiQuest more than 10 years ago and several coincidental Ni-Cu anomalies which were intersected have not been properly followed up. The two holes planned at T3 did intersect mainly intermediate rocks with very little ultramafic.

Three holes were completed at T4 with the two southernmost holes intersecting 80 to 100m of ultramafic flows with spinifex and cumulate textured komatiite. Hole SSMH0157 was abandoned due to excessive water inflow in excess of the sump capacity after intersecting about 20m of 5% to 10% disseminated sulphides at the bottom of the hole. Sampling was conducted with 3m composites collected from the rig's cyclone.

Mineralised intersections with more than 10% observed sulphides have been sampled at 1m intervals. Magnetic-susceptibility measurements are currently being taken from all drillhole samples to further define the nature and distribution of the ultramafic units at Dukes, T3 and T4. NEXT STEPS: Complete the heritage survey over the Dukes prospect; Surface EM survey over the entire Dukes prospect; Processing and evaluation of historic EM surveys over the T4 target area; Plan RC drilling program at Dukes covering the full 2.5km strike length of the ultramafic sequence; Undertake infill and additional soil geochemical sampling over untested komatiitic sequences; Model geology and assay results to target further drilling over target areas.

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.