Strickland Metals Limited provided an update on its flagship Millrose gold project located on the world renowned Yandal Greenstone Belt in Western Australia. The Millrose gold project lies approximately 30km due east of Northern Star Ltd.'s Jundee gold operation. These assays continue the excellent results returned from previous proximal oxide intersections, as announced to the market on 29 August 2022, 7 September 2022 and 21 September 2022: MRRC230D: 19m @ 2.4g/t Au from 117m; MRRC228: 37m @ 1.6 g/t Au from 58m, including 9m @ 5.6 g/t from 86m; MRRC242: 24m @ 1.6g/t Au from 64m; MRRC234: 53m @ 1.1 g/t Au from 44m (incl.

13m @ 3.3 g/t Au from 84m); MRRC238: 12m @ 4.9 g/t Au from 64m (incl. 4m @ 13.6 g/t Au from 68m); MRRC224: 4m @ 2.3 g/t Au from 40m; and MRRC240: 4m @ 1.3 g/t Au from 69m. These results collectively extend the oxide gold mineralisation 400m north of the current Millrose Mineral Resource, with a further seven diamond holes testing below this horizon, targeting the primary Wanamaker Lode.

These holes have been designed to follow up and extend the intercept in MRRC226D: 7.9 metres @ 7g/t Au from 138.9. All holes successfully tested the primary structure, with assays due by the end of November 2022. The drilling completed by Strickland over the last 9 months has successfully expanded the oxide gold mineralisation at Millrose, which is now defined over 3.2km in length (and remains open to the north). In addition to this oxide mineralisation, Strickland has also been successful in defining three high grade primary lodes, in the form of Millrose Central, Millrose North and Wanamaker (south to north).

Each zone displays varying alteration and mineralisation styles that can be grouped accordingly: Millrose Central: Hematite - Carbonate - Silica, Millrose North: Silica - Carbonate, Wanamaker: Silica-Chlorite. At Wanamaker the presence of lamprophyre intrusives, associated with the high-grade gold mineralisation, is a unique geological attribute associated with this part of the deposit and could be the reason for highest grade gold intercepts intersected to date. Both the newly defined primary and extensive oxide mineralisation will feed into an updated Mineral Resource, which the Company plans to release to the market in First Quarter 2023.