Outback Goldfields Corp. provided an update on exploration activities across its highly prospective portfolio of exploration-stage gold assets in the Victorian gold fields of Australia. Exploration is ongoing across the Yeungroon and Ballarat West projects, focused on drill target generation.

Yeungroon: Follow-up drilling across the newly defined O'Connor's structural corridor is planned to commence in April 2023. Ballarat West: Follow-up soil and rock geochemical surveys are ongoing across the newly defined Berry Sauce target. Silver Spoon: The grant of the Exploration Licence, adjacent to Agnico Eagle's Fosterville tenements, is anticipated in the coming weeks.

Corporate Update The Company is reviewing and evaluating all potential partnership opportunities across the project portfolio. Sufficient funds to execute follow-up exploration programs through 2023. Land access negotiations with local landowners are ongoing.

Yeungroon Exploration Exploration at Yeungroon is focused on the western side of the project area across the newly identified, northerly trending O'Connor's structural corridor . Here, multiple soil geochemical traverses have been completed along east-west oriented roads across key geophysical features. The purpose of the soil survey is to evaluate the reproducibility of strong geochemical anomalism observed in air-core drilling below weathered overburden by traditional surface soil sampling methods.

Analyses of the over 400 newly acquired samples, collected on 100 m centres, are ongoing, which include routine pXRF (portable X-ray fluorescence) methods complimented with selected samples analysed for full multi-element geochemistry and gold via fire assay at SGS labs. A roadside air-core drilling program is planned and scheduled to commence in the coming months. The program is designed to follow-up encouraging high-arsenic anomalism (a proven pathfinder- element for gold mineralization in the Victorian gold fields) identified in the previous reconnaissance- style drill program across the O'Connors corridor.

The previous program was successful in identifying the O'Connors anomaly through very shallow overburden (<10 m depth), however, due to the relatively short hole depths, only a limited depth of basement was sampled.