CONSOLIDATED DRILLING BOOSTS SPUR GOLD CORRIDOR EXTENSION

RC drilling delivers high-grade gold hits from Consols and Spur zones

Waratah Minerals Limited (ASX:WTM) has reported strong assay results from ongoing reverse circulation (RC) drilling at the Spur Project (EL5238), with new intercepts extending mineralisation in both directions within the Consols Zone of the Spur Gold Corridor.

At the Consols Zone, RC holes SPRC079 and SPRC080 have returned significant gold mineralisation linked to previous drilling (SPRCD062):

SPRC079:
- 9m @ 5.59g/t Au from 183m
  - including 5m @ 9.97g/t Au from 183m
  - and 3m @ 16.21g/t Au from 183m
SPRC080:
- 93m @ 0.51g/t Au from 288m
  - including 25m @ 1.20g/t Au from 306m
  - and 10m @ 1.84g/t Au from 318m

At the Spur Zone, deeper drilling continues to define the mineralised plunge with RC hole SPRC037 intersecting:

SPRC037:
- 18m @ 1.65g/t Au from 435m
  - including 14m @ 2.08g/t Au from 435m
  - 8m @ 2.87g/t Au from 487m
  - and 3m @ 7.48g/t Au from 489m

Drilling remains ongoing with two diamond drill holes testing the high-grade extension at Consols. Two additional diamond rigs are expected to mobilise within three weeks to further accelerate exploration along the corridor.

Waratah Managing Director, Peter Duerden, said:
Our understanding of the Consols Zone within the wider Spur Gold Corridor is growing with RC drilling results extending mineralisation in the upper levels and further expanding the system.

Pending results from current diamond drilling, including a wedge hole off SPRC080, will test for up-dip and
along strike extensions of the high-grade mineralisation encountered in SPRCD062.

With two more diamond drill rigs arriving on site within three weeks, the Company is set to expand its drilling
campaign at the Spur Gold Corridor, driving momentum and fast-tracking the delivery of further results