ASKARI ANNOUNCES MAIDEN GOLD RESOURCE AT BURRACOPPIN

Initial Estimate Shows Promising 65,000 Ounces of Gold in Western Australia

Askari Metals Limited (ASX:AS2) has officially released its maiden JORC (2012) Mineral Resource Estimate (MRE) for the wholly owned Burracoppin Gold Project, located in the wheat belt of Western Australia. The estimated resource stands at 1.32 million tonnes with an average grade of 1.52 grams per tonne (g/t) gold, using a 0.85 g/t gold cut-off grade, summing up to approximately 64,600 ounces of contained gold.

The Burracoppin project, positioned 15 km west of the Ramelius Resources “Edna May Gold Mine,” benefits from its proximity to established resources, including Edna May’s significant gold inventory of 990,000 ounces at 1.0 g/t gold. With the lower cut-off grade set at 0.3 g/t, Askari’s MRE expands to 3.59 million tonnes at 0.87 g/t gold, encapsulating 101,000 ounces.

The maiden MRE consolidates results from the Benbur-Christmas Gift, Easter Gift, and Lone Tree zones. High-grade intervals reported include 3 meters at 17.41 g/t gold from 73 meters depth in drill hole ABRC069 at Easter Gift, with highlights including 1 meter at 45.50 g/t gold. Further drilling at Benbur and Christmas Gift also showed promising extensions, with intercepts such as 6 meters at 2.37 g/t gold from 31 meters and 10 meters at 1.38 g/t gold from 34 meters, respectively.

Askari’s strategic expansion includes the acquisition of the adjacent exploration license E70/6127, enhancing the project’s potential for resource growth. The additional drilling aims to connect the Benbur and Easter Gift zones into a continuous mineralized body, with further potential indicated at depth.

Mr. Gino D’Anna, Managing Director of Askari, expressed his satisfaction with the project’s progress:

We are very pleased with the delivery of the maiden JORC (2012) mineral resource at the Burracoppin Gold Project with a result of ~65,000 ounces of contained gold at a grade of 1.52 g/t Au (using a 0.85 g/t Au cut-off grade).

The delivery of the maiden resource at Burracoppin marks a significant achievement in the history of the Company. Exploration and RC drilling at the Burracoppin project by Askari Metals commenced in July 2021 following up historic exploration and resulted in several high-grade shallow gold intersections being encountered including 3m @ 17.41 g/t Au from 73m downhole in ABRC069.

Significant exploration potential and resource expansion upside remains at Burracoppin which the Company is currently investigating. In addition to the resource growth potential on our core Burracoppin licence (E70/5049), the Company has also recently acquired the adjoining exploration licence E70/6127 offering further discovery and resource growth potential.

The Company has received a significant uptick in inbound investor and strategic interest for the Burracoppin project with a record high A$ gold price and significant mineralised intersections encountered in drilling.

We look forward to keeping our shareholders and investors updated as we progress.

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Goldman

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