Vertex Minerals : Red Hill Drill Program to Commence Next Month

RED HILL DRILL PROGRAM TO

ASX Code: VTX

COMMENCE NEXT MONTH

ETHICALLY AND ENVIRONMENTALLY SUSTAINABLE GOLD

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Advanced Hill End Gold Project (NSW) 14km strike high grade gold system - to be developed on a large scale 1.6m ozs historically mined

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Advanced Hargraves Gold Project (NSW) moving to a PFS

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Combined existing 2012 JORC 257K oz @ 2.11 g/t & significant exploration upside likely to be amenable to gravity recovery, with recoveries potentially as high as 95%

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Highly prospective Pride of Elvire Gold Project (WA) & Taylors Rock Nickel Gold Project (WA)

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Hill End is home to the largest gold reef nugget ever to be found - Globally

W.www.Vertexminerals.com

[e-mail]

ASX ANNOUCEMENT 26 APRIL 2022

KEY HIGHLIGHTS:

• • Drilling contract signed with BG Drilling for an initial 1,500m RC drill program commencing late May.

• • Red Hill Resource forms 1km of the 14km strike length of the Hill End - Gold field.

• • Red Hill has an existing resource of 80,000 oz Au @ 1.7 g/t to 150m depth.

• • Red Hill metallurgy is amenable to gravity recovery with previous test work reporting recoveries greater than 90%.

• • Existing permitted gravity plant owned by Vertex at Hill End to be relocated and enlarged.

• • Red Hill will complement the Hargraves resource as feed to the gravity plant - 177,652 oz Au @2.4 g/t Au.

• • Deeper targets include the Frasers zone where a previous hole intersected 10.7 m @ 13 g/t Au from 208m.

• • Red Hill, like all the Hill End field, can be mined ethically and in an environmentally friendly manner.

Vertex Minerals Ltd ABN 68 650 116 153

Unit 38, 460 Stirling Highway

Peppermint Grove

WA 6011

Phone [phone]

Email:[e-mail]

PO Box 8770

Orange

NSW 2800

T O

Ethical and environmentally sustainable gold explorer Vertex Minerals Limited (ASX: VTX) ("Vertex" or the "Company") is pleased to advise that it has signed a contract with drilling company BG Drilling Pty Ltd ('BG') to undertake its initial 1,500 Reverse Circulation ('RC') drill program at the Red Hill Resource commencing in late May.

The Red Hill Resource forms 1km of the 14km strike length at the Hill End Gold Project located in the highly prospective Eastern Lachlan Fold Belt of Central West NSW (refer image 1). The project has seen extensive historical mining, however, most of the previous workings were impeded by a high-water table. Work undertaken in 2015 by Hill End Gold Limited ('HEG') culminated in a JORC 2012 resource estimate at the Red Hill Resource of 80,000 oz Au @ 1.7 g/t to 150m depth. The complete resource is summarised in table 1 below.

Table 1: Red Hill resource table as announced by HEG in November 2015

The Red Hill metallurgy is believed to be uniquely amendable to gravity recovery with previous test work reporting recovery rates greater than 90%. The project boasts an existing 100% owned permitted gravity plant which the Company plans to relocate and expand capacity, incorporating both the Hill End and Hargraves projects. Drilling at Red Hill is set to complement the current Hargraves resource as feed to the gravity plant - 177,652 oz Au @2.4 g/t Au. The existing gravity plant and the high recovery rates present Vertex with the opportunity to develop Australia's first truly environmentally sustainable gold mining projects.

The planned 1,500m RC drill program will focus on targeting the stockwork and halo zones that have the greatest potential to add significant tonnage to the resource whilst improving amenability to bulk mining methods (refer image 2). Deeper targets identified at the prospect which will be examined during the programinclude the Frasers zone, where a previously drilled hole intersected mineralisation of 10.7m @ 13 g/t from 208m.

The drilling contract with BG highlights an important milestone, in what will be the Company's maiden drill program undertaken at the Hill End Project. Red Hill represents an attractive first target for Vertex as it presents strong exploration upside in a neglected high grade gold corridor of significant size and grade, and uniquely gravity recoverable. The Company's vision at Hill End is to leverage the high recovery rate to create an ethical and environmentally friendly green gold project, incorporating the use of gravity concentration to direct smelting, and renewable energy.

The drill rig is expected to be mobilised to site in the coming week with drilling to commence late May. The drill program is expected to confirm extensions to the resourced mineralisation.

Executive Chairman Roger Jackson commented:

"We are very pleased to welcome BG Drilling to the exploration team and look forward to sharing exploration success with them. This drilling program represents the start of the development of the Hill End Gold corridor. Red Hill like all the Hill End gold is gravity recoverable. We believe this exciting gold precinct to be one of the most environmentally and ethically sustainable potential gold mines in Australia"

Image 1: NSW project locations

Image 2: Proposed drilling locations at Red Hill- Red Hill is a 2km component of the 14km Hill End Gold corridor