Ann: Assays Confirm Further Opportunities for Resource Expansion, page-2

Final Phase IV Drilling Results Confirm Further Opportunities for Resource Expansion

Boab Metals Limited (ASX: BML) (“Boab” or the “Company” is pleased to report it has received the final batch of assay results from the Phase IV drilling program thus concluding another successful
campaign at its 75% owned Sorby Hills Lead-Silver-Zinc Project (“Sorby Hills” or the “Project”, located in the Kimberley Region of Western Australia.

HIGHLIGHTS
• Assay results from the final Phase IV batch further confirm up and down-dip extensions
of mineralisation outside the current Mineral Resource envelope and open pit designs.
• The new results are consistent with the current Resource model and provide support for the potential re-classification of Inferred Resources.
• Significant assay results received include:
o SHDD041: 11.0m at 4.69% Pb and 15g/t Ag from 72m
o SHDD049: 9.0m at 4.37% Pb and 26g/t Ag from 64m
o SHDD048: 8.0m at 2.67% Pb and 39g/t Ag from 102m
o SHDD057B: 8.5m at 2.90% Pb and 30g/t Ag from 98.5m
o SHDD046: 7.0m at 3.05% Pb and 8g/t Ag from 10m
• Overall, the final batch of results are expected to have a positive impact on the Mineral
Resource and open pit designs for the Norton and Omega South deposits.
• The positive results from the Phase IV program have revealed significant opportunities to materially increase the mining inventory at Sorby Hills through additional targeted drilling.

Boab Managing Director Simon Noon stated: “The receipt of the final batch of Phase IV assays represents the conclusion of yet another successful drilling campaign at Sorby Hills. The results have
again reinforced our confidence in the ability to efficiently and effectively upgrade the Sorby Hills
Resource size and JORC classification with each drill program.
Furthermore, the results have pointed us toward a range of low-risk opportunities to materially expand
the mining inventory of the Sorby Hills deposit. We are currently assessing these opportunities and
look forward to providing details of the size and objective of our next targeted drilling campaign.”