Ronin Resources Limited provided the following update on its 100% owned Vetas Project. Vetas Project - Update: Further to the Exploration Update - Vetas Project released on the ASX on 26 July 2022, the Company retains a local presence alongside its selected drilling contractor and will initiate its maiden diamond drilling campaign, designed to validate the presence, continuity and correlation of coal seams, and allow the sampling of all seams at depth, when circumstances allow. As previously announced, in the intervening period priority will be given to the preparation and submission of a mine plan (PTO) and the accompanying environmental license application (PMA) modelled on a near-term, low capex mining operation.

To this end, the Company has expanded the engagement of Serviminas SAS, a Medellin based mining services provider with over 40 years' experience, beyond the maiden drilling program to also include the design and preparation of a near-term, low capex mine plan (PTO). Concurrently, the Company has engaged Monteria based Ecosuelos SAS, a specialist environmental consultant to the mining industry, to complete the accompanying environmental license application (PMA) to support the near-term, low capex mine plan. Advancing long lead-time permits will ensure the Vetas Project is positioned for swift development, if and when circumstances warrant.

Work Completed to date - Vetas Project: The Company has compiled a database of 11 historical coal holes, 32 petroleum holes and 25 seismic lines, to complement its own surface mapping, satellite imagery and sample collection and analysis.