Ann: 6.8Moz Hemi Maiden Mineral Resource drives MGP to 9.0Moz, page-5

De Grey Technical Director, Andy Beckwith, commented:

“Hemi is an exceptional new Western Australian gold discovery which is redefining the gold potential of the Pilbara and has changed the future for De Grey and our shareholders. De Grey’s exploration team has taken Hemi from discovery to a Tier 1 scale 6.8Moz gold deposit in a short timeframe. RC and diamond drilling commenced only 15 months ago and further extensions are expected at each deposit as drilling continues. Twelve drill rigs are currently focused on expanding Hemi as well as testing numerous targets within our large 100% owned, 150km long land package. I have no doubt we will be drilling and finding additional resources for many years to come!

De Grey Managing Director, Glenn Jardine, commented:

“The Company has delivered on its commitment to deliver a maiden Hemi Mineral Resource to shareholders by mid-2021. The 6.8Moz Hemi Mineral Resource is substantial and exceeds our initial expectations. We are committed to increasing the resource base with ongoing drilling programs. This achievement would not have been possible without the enthusiasm and dedication of our employees and contract personnel and the Company thanks everyone involved for their efforts. Project studies, including metallurgy, geotechnical, mining, environmental, infrastructure and hydrogeology are continuing in parallel with the exploration drilling. These studies aim to provide information to define the development and production opportunities this scale of resource brings. The Company expects to be able to provide production potential for Hemi and the overall Mallina Gold Project to shareholders in the September quarter 2021 through the completion of a scoping study.” De Grey Mining Limited (ASX: DEG, “De Grey” or the “Company” is pleased to report that the Global Mallina Gold Project (MGP) Mineral Resource has significantly increased from 2.2Moz to 9.0Moz, with the addition of the 6.8Moz Hemi Maiden Mineral Resource.