Estrella Resources Limited announced further assays have been received for the Company's Spargoville Nickel Project, located approximately 20km South West of Kambalda, Western Australia. Diamond drillhole SPDD003 intersected very high-grade Transitional mineralisation including 0.6m @ 11.00%Ni, 48m vertically below the open pit (Figure 2). Results were also received for SPDD012 which intersected both Oxide and Transitional mineralisation.

The total intersection was 7.45m @ 1.32%Ni, including an Oxide-Transitional zone 2.22m grading 2.42%Ni. Assays received back from the laboratory continue to confirm visual estimate expectations and the results are summarised in Table 1 and presented in full in Table 4. Figure 2 below depicts a historical intercept long section of the 5A Nickel Mine. The recent drill intersection locations are also plotted.

Table 1 below shows significant intercepts from the current drill program whilst Table 2 summarises the current drilling visual estimates. With the metallurgical drilling almost complete, the Company has noted that the Oxide and Transitional Mineralisation boundaries appear to have been modelled higher than the current drilling suggests. A revised Mineral Resource Estimate will be calculated which will then feed into ore reserve and pit optimisation modelling.

Submission of mine plans will follow shortly thereafter with the Company on track to commence full scale mining of the 5A nickel sulphide resource in the 1st Quarter of 2023 subject to positive DFS outcomes, statutory approvals and financing. SQ-XRF will be conducted on select samples to ascertain the quantity and type of nickel mineral species present ahead of metallurgical testing. Metallurgical testing will occur in two concurrent streams, SQ-XRF and flotation testing for high-sulphide transitional and fresh mineralisation, and a trial parcel to be processed at a third-party Western Australian facility for the low-sulphur Transitional and Oxide mineralization.