Mineral & Financial Investments Limited report assay results from the latest drill holes executed in the Venda Nova South Zone as part of the metallurgical, infill and extensional drilling campaign started in 2022. Of note from these results is the higher tenor of copper intercepted that supports the ongoing delineation of a high grade copper domain within the South Deposit. As of January 30, 2023, Redcorp/Ascendant has completed 27 drill holes (11 Metallurgy holes reported and 16 infill and step-out drill holes) totalling 12,804 meters as part of the overall drill program to support the ongoing Feasibility Study for Venda Nova.

Results of the final variability, step-out and infill drill holes in the South Zone will be included in the resource update to support the Feasibility Study. Results reported today represent full results received as January 28, 2023. Highlights (True Width) of the infill variability metallurgical drilling program results include: Met_St_03: - 4m @ 1.77% CuEq from 226m; and - 5m @ 1.71% CuEq from 322m Met_St_04: - 2m @ 3.65% CuEq from 246m; and - 10m @ 2.89% CuEq from 286m; and - 10m @ 1.46% CuEq from 352m Highlights of the infill /drilling results include: ST_27: - 4m @ 2.63% CuEq from 414m; and - 9m @ 2.29% CuEq from 568m ST_30: - 5m @ 1.99% CuEq from 339m: and - 3m @ 3.93% CuEq from 395m; and - 10m @ 1.97% CuEq from 423m.

Infill drill hole ST_27 was drilled at the north edge of the current indicated resources envelope. This drill hole is expected to spatially extend the conversion of inferred resource into the indicated category both along strike and down dip. Notable intercepts include 9m @ 2.29% CuEq (1.9% Cu) from 568m including 2m @ 7.8% of Cu from 576m.

This intercept confirms the geometry of the high-grade copper footwall trend, discussed previously after the reported results of holes ST_31 and ST_42. Copper, along this trend, occurs in the form of chalcopyrite within veinlets and semi massive (submeter) lenses, concentrated in the low stratigraphically stacked fisssural corridors. Infill drill hole ST_30 was drilled immediately north of the envelope that outlines the extent of the Indicated portion of the resource in the current internal update.

The addition of this hole will likely extend the boundary of Indicated Resources both along strike and down dip. Notable intercepts include 4m @ 1.77% CuEq (0.88% Cu) from 226m and 6m @ 1.71% CuEq (0.42% Cu) from 322m. Variability metallurgical drill holes, Met_St_03 and Met_St_04 were collared centrally to theIndicated Resource envelope and crossed all the corridors that define the current South Zone domaining.

The holes were drilled slightly oblique to the main orientation of the existing mineralized corridors to provide additional mass of mineralized rock to properly conduct the variability metallurgical setting. Results reconcile well with the new domains and general grade distribution estimates. Significant intercepts in hole Met_St_03 include 4m @ 1.77% CuEq from 226m and 5m @ 1.71% CuEq from 322m.

Best intercepts in hole Met_St_04: 2m @ 3.65% CuEq from 246m; 10m @ 2.89% CuEq from 286m; and 12m @ 1.46% CuEq from 352m.