Prodigy Gold NL provided an update on the exploration activities in the Lake Mackay region of the Northern Territory and Western Australia and the Tanami region of the Northern Territory. This includes an update on the drilling activities as part of the Joint Ventures with IGO Limited ("IGO") at Lake Mackay and provides an update on the status of planning that is currently underway to drill within the Hyperion project in the Northern Tanami region of the Northern Territory. The previously announced RC and diamond drilling programs at Lake Mackay have now been completed and assay results are pending.

The RC program has satisfied the sole funding requirement of drilling 24 RC holes on the Gold Tenements. Further drilling is required to meet the sole funding requirement for the base metal titles and planning is underway to conduct this drilling in the next financial year. Prodigy Gold completed 13 RC holes for 1,690 metres on the Western Australian title E80/5001, and 12 RC holes for 1,722 metres on leases EL31234 and EL25146 in the Northern Territory.

The WA portion of the drilling is co-funded by the Round 23 of the EIS program of the Western Australian Department of Mines, Industry Regulation and Safety (DMIRS). The NT portion of the program is co- funded by Round 14 of the Northern Territory Geological Survey ("NTGS") Geophysics and Drilling Collaborations program. RC samples have been submitted to the laboratory for analysis as 4 metre composites for gold by the 50 gram Fire Assay technique.

Results are pending. Regional magnetic imagery and structural mapping indicate dominantly north-west trending features in the target areas, likely representing metamafic sills of the Du Faur Suite amongst non-magnetic metasedimentary schist of the Lander Rock Formation. Such metamafic contacts are known to be prospective for gold at the Arcee and Goldbug prospects.

The new gold targets are interpreted to have similar geology and broadly comparable gold-in-soil anomalies to those that led to the discovery of the Arcee and Goldbug prospects. The drilling completed on E80/5001 in WA focused on an untested gold-in-soil target, and the continuation of known gold mineralisation at the Arcee prospect across the WA/NT border. The new gold-in-soil target is located 12 km north-northwest of the Arcee prospect.

Drill-hole locations and orientations were guided by previous drilling, lag mapping and soil sampling results. Drilling on E80/5001 was designed to test the entire width of the surface gold anomalies and the source of the surface gold anomalism at depth with multiple twin scissor (and nose-to-tail) holes. Drilling completed on the Northern Territory side of the border tested the source at depth of three gold- in-soil anomalies with multiple twin scissor (and nose-to-tail) holes.

Prodigy Gold has completed one diamond hole (PRDD2202) at the Phreaker prospect located on EL30731. The drill core has been logged and samples submitted to Bureau Veritas in Adelaide for geochemical analysis. Results are pending.

The polymetallic sulfide Phreaker prospect was initially discovered using airborne and ground electromagnetic surveys, and follow-up RC drilling in 2018 and 2019. Three diamond drill holes were drilled at the prospect in 2021 by IGO. All three holes successfully intercepted high-grade copper (gold-silver) sulfide mineralisation 75m to 430m below previous RC drilling.

The best two recorded intersections were in hole 21PHDD002: 4.5m @ 3.03% Cu, 1.78g/t Au and 14g/t Ag from 562m and 17.47m @ 2.13% Cu, 0.21g/t Au and 9g/t Ag from 575.23m. The 2021 drilling confirmed that mineralisation extends for at least 750m of strike and has down-dip continuity to over 600m vertical depth below surface. From the limited drilling completed to date, the sulfide mineralisation appears to be sub-vertical and structurally-controlled.

The 2021 diamond drilling was broad spaced with identified mineralisation remaining open along strike and down-dip. Diamond hole (PRDD2202) was drilled to 640 metres depth to further test the extent of the electro- magnetic (EM) conductor associated with mineralisation at depth and along strike. The EM plate model was generated from down-hole electromagnetic (DHEM) surveys from shallow RC drilling in 2019 and reinforced by DHEM surveys from the 2021 IGO diamond drilling campaign.

Hyperion Project Exploration Planning Planning is currently underway to commence a drilling campaign at the Hyperion project, particularly around the Tregony and Boco North prospects located approximately 24km and 38km north along strike of the Hyperion Mineral Resource. The Hyperion Mineral Resource is 100% owned by Prodigy Gold and located to the south of the Crusade gold deposit (100% Central Tanami Project Joint Venture between Northern Star Resources Limited and Tanami Gold NL), making this area (50 km2) a highly prospective gold exploration target. Both the Tregony and Boco North prospects are located on EL31331.

Part of this drilling campaign is under a co-funding agreement with the NTGS under the round 15 Resourcing the Territory grants as recently announced by the NTGS on the Resourcing the Territory website. The Boco North drilling is aimed at opening up an unexplored greenfields area along the significantly mineralised Suplejack Shear Zone ("SSZ"). Boco North has not been effectively drill tested and is a geochemically blind target due to the presence of an overlying unmineralised cover.

Recently (2019) acquired magnetic imagery highlights the prospective geological units at Hyperion and Tregony are present at Boco North along with several splay features associated with the SSZ. The drill targets observed in magnetic imagery have not been drill tested historically and the stratigraphic relationships between the prospective Tanami group and the unmineralised cover are largely unknown. The aim of this drilling program is to determine the depth of cover and confirm the presence of the prospective Tanami group.

The SSZ is a major exploration focus for Prodigy Gold in 2022/23 with further drilling planned at Tregony to grow the historical resource.