Ann: Antimony-Gold Mineable Intersections Increased to 22, page-3

Yes a great announcement DNPE

• All 22 diluted intersections to date within the MCOG zones of the C1 & C2 vein
systems average 16.3 g/t AuEq (6.1% antimony (Sb) plus 4.8 g/t gold (Au)).

Average EHT = 1.75 Better than Costerfield
Average Antimony = 6.1% Better than Costerfield
Average Gold Eq = 16.3 g/t outstanding, but hard to compare with Costerfield as they, along with Fosterville, have their best results at depth

NAD033 will give us a very good idea of how far the C2 vein extends

Nagambie Resources’ Executive Chairman, Mike Trumbull, commented: “The NAD023 mineable intersection
of C1 W - 1.2m EHT at 27.9 g/t AuEq - is particularly pleasing as it is the deepest intersection to date in the
program at approximately 230m vertically below surface. Within this NAD023 intersection was a sample assaying
60.8% Sb, the highest antimony assay to date at the Nagambie Mine.

“It is planned to drill test both the C1 & C2 vein systems to around 400m vertical depth in coming months, as well
as drilling the C3 & C4 vein-system targets to the south west of the West Pit.

“Averaging circa 6% antimony plus 5 g/t gold from 22 mineable intersections in 13 holes out of 17 holes assayed
to date is a remarkable hit rate, given that it has come from one drill rig, five day shifts per week, commencing in
the June quarter 2022.

Establishing that N-striking, high-grade antimony-gold veins occur below the E-W-striking,
low-grade gold mineralisation in the West Pit, mined in 1992-1994, represents a very significant Victorian
discovery. The antimony grade of 6% Sb is exciting in comparison to the Costerfield Mine, 45 km to the west of
the Nagambie Mine and Australia’s only current antimony-gold mine. Total Measured and Indicated Resources at
Costerfield, as of 31 December 2021, averaged 2.8% Sb and Inferred Resources averaged 1.3% Sb.”