HIGH-GRADE LINK BETWEEN WAGGA TANK AND SOUTHERN NIGHTS CONFIRMED

HIGH-GRADE LINK BETWEEN WAGGA TANK AND SOUTHERN NIGHTS CONFIRMED; DOWN-DIP CONTINUITY TAKING SHAPE • WTRCDD123 returns strongly mineralised intercept providing link between Wagga Tank and Southern Nights deposits: o 14.45m @ 2.43% Cu, 2.67 g/t Au, 123 g/t Ag, 2.58% Zn, 0.87% Pb from 435.55m • Copper-gold mineralisation intercepted in WTRCDD123 indicates possible metal zonation within the Wagga Tank-Southern Nights mineral system, a common feature of Cobar-style deposits; mineralisation is open in all directions including up-dip • WTRCDD122 returns strongly mineralised intercept (assays pending) at more than 350m below surface adding substantial down-dip continuity to Southern Nights mineralisation • Further high-grade zinc-lead-silver-gold intercepts returned, with better assays including: o 31m @ 3.7% Zn, 1.51% Pb, 0.25% Cu, 25 g/t Ag, 0.19 g/t Au from 274m including 7m @ 11.32% Zn, 4.92% Pb, 49 g/t Ag, 0.23 g/t Au from 277m in WTRCDD081 o 19m @ 3.52% Zn, 1.11% Pb, 18 g/t Ag, 0.1 g/t Au from 181m in WTRCDD064 including 5m @ 8.18% Zn, 3.75% Pb, 46 g/t Ag, 0.12 g/t Au from 279m in WTRCDD084 Peel Mining Limited (ASXEX) (“Peel” or the “Company”) is pleased to report further drilling results from its 100%-owned Wagga Tank/Southern Nights project, south of Cobar in western New South Wales, which is rapidly emerging as one of the most significant zinc polymetallic discoveries in Australia in recent years. New high-grade mineralised intercepts at Southern Nights continue to build upon previously released results, whilst assay results from drilling in the intervening zone between Wagga Tank and Southern Nights returned a strongly mineralised intercept, establishing a link between the two deposits. Encouragingly, a new strongly mineralised intercept has been returned from Southern Nights at more than 350m below surface adding substantial down-dip continuity to mineralisation.