PHASE 2 DRILLING DELIVERS STRONG GOLD INTERCEPTS AT FAIRVIEW NORTH

Stavely expands high-grade gold zones with new RC results and plans follow-up drilling

Stavely Minerals (ASX:SVY) has completed a 23-hole Phase 2 Reverse Circulation (RC) drilling program at the Fairview North gold prospect in western Victoria, following on from high-grade results in earlier Phase 1 drilling. An additional RC hole was also completed at Fairview South to follow up on encouraging prior assays.

The new drilling intersected several broad zones of gold mineralisation with strong internal high-grade intervals, including:

59m at 1.31g/t gold from surface in hole SFRC006, including:
- 27m at 2.33g/t from 13m, with:
  - 3m at 10.81g/t from 19m
  - 4m at 5.05g/t from 30m
42m at 1.57g/t gold from 23m in hole SFRC007, including:
- 8m at 4.76g/t from 46m
29m at 0.96g/t gold from surface in hole SFRC005, including:
- 6m at 3.64g/t from 20m

Previously announced Phase 1 RC drilling at nearby Fairview South also returned:

40m at 1.96g/t gold from surface in hole SFSRC001, including:
- 17m at 4.18g/t from 9m, with:
  - 9m @ 7.15g/t from 9m
    - 1m at 49.2g/t from 10m

One additional RC drill-hole (SFSRC002) has now been completed at Fairview South to test this high-grade zone further.

A soil auger program is also nearing completion in the same area, with 140 samples already dispatched to the lab and the remaining 40 samples expected in the coming weeks. These results will support planning for the next phase of RC drilling.

Stavely Minerals Chair and Managing Director, Mr Chris Cairns said:
Our decision to refocus on the outstanding gold potential across the Stavely Project has paid off with an impressive set of assay results from the initial Phase 1 RC drilling, as outlined in our latest ASX releases and presentations.

It’s great to see such a consistent set of gold results from the first phase of RC drilling at Fairview North, where the mineralisation is characterised by shallow, broad zones of moderate grade gold mineralisation with notable internal zones of higher-grade.

As part of the recently completed Phase 2 program, we have moved to further define and extend the mineralisation at flexure ‘A’ and then flexures ‘B’ and ‘C’, noting of course that there is no systematic air-core drilling to the north-west or south-east of these three gold zones.

With this in mind, extending the reconnaissance air-core drilling coverage will also be a priority.

We expect to be very busy at both the Fairview North and Fairview South gold prospects in the months ahead as our gold-focused field programs continue to accelerate.