De Grey Mining : Extensions confirmed at Wingina and Amanda

ASX Announcement

08 March 2019

Extensions confirmed at Wingina and Amanda

• ➢ Extensions beyond existing resource model defined at both Wingina and Amanda

• ➢ Potential to expand resources with further drilling

• ➢ Host +60km long Tabba Tabba Thrust considered highly prospective for future discoveries

De Grey Mining Limited (ASX: DEG, "De Grey", "Company") is pleased to announce new drilling results at the

Wingina and Amanda gold deposits that form part of the 1.4Moz Pilbara Gold Project, located near Port Hedland in the Pilbara region of Western Australia. (ASX release "2018 Total Gold Mineral Resource increases to 1.4Moz", 3 October 2018)

The gold mineralisation, at Wingina and Amanda, is hosted by the north east trending and large regional scale Tabba Tabba Thrust. Both the Wingina and Amanda deposits remain open along strike and at depth plus the +60km long thrust is considered highly prospective for further discoveries.

Wingina

At Wingina, the shallow near surface mineralisation has previously been well drilled on a nominal 20m x 20m basis over more than 1km of strike length and generally down to ~200m depth. The current resource (5.49Mt @ 1.6g/t for 287,700oz) has greater than 75% of the resource in the measured and indicated categories and is expected to form one of the larger open pits in the 2019 2.0Mtpa PFS. Two higher grade plunging shoots are defined in this previous resource drilling (Figure 1). Recent drilling has successfully targeted extension to the mineralisation at depth and to the north east along strike.

• ➢ Down dip extension confirmed to ~300m below surface and 150m north east of resource.

• ➢ Significant new results include:

  6.35m @ 3.37g/t Au in WDH015 including 0.75m @ 12.2g/t Au

  12.66m @ 1.75g/t Au in WDH016 including 0.81m @ 10.95g/t Au

• ➢ High-grade intercepts within the broader gold lode include:

0.75m @ 12.2g/t Au

0.81m @ 10.95g/t Au

4.0m @ 5.57g/t Au

2.0m @ 2.7g/t Au

4.0m @ 2.6g/t Au

De Grey Mining Limited (ABN: 65 094 206 292)

ASX Code: DEG FRA Code: WKN 633879

Level 3, 24-26/22 Railway Rd	PO Box 2023	T: [phone]	E:[e-mail]
Subiaco WA 6008, Australia	Subiaco WA 6904	F: [phone]	W:www.degreymining.com.au

➢ Further step out drilling is being planned to test down dip extensions below the resource.

Limited diamond drilling completed back in 2016, targeted the northern most plunging shoot and extended mineralisation at depth. The recent drill program comprising 933m RC and 718m of diamond core further extends this eastern zone of mineralisation. Six additional precollars have been drilled in readiness to test further down dip extensions below the resource along strike.

The recent drilling results continue to define extensive zones of wide alteration (up to 50m) associated with the thrust defining an excellent host structure. The dominant gold occurs in a discrete lode (at > 0.5g/t cutoff) within the larger alteration zone and wider dispersed lower grade anomalous gold mineralisation over large portions of alteration zone. The scale of the alteration zone and structural controls provides scope to discover further high grade plunging shoots and extension at depth and along strike beneath the thin sand cover.

Results are provided in Table 1 and shown in Figure 1.

Figure 1 Wingina long section

Table 1

Wingina significant intercepts (>2gm)

HoleID	Depth From (m)	Depth To (m)	Downhole Width (m)	Au (g/t)	Collar East (GDA94)	Collar North (GDA94)	Collar RL (GDA94)	Dip (degrees)	Azimuth (GDA94)
WDH015	240.8	241.8	1	2.01	664847	7694552	84	-65	142
WDH015	257.8	259	1.2	5.41	664847	7694552	84	-65	142
WDH015	268.1	274.45	6.35	3.37	664847	7694552	84	-65	142
incl	273.7	274.45	0.75	12.20	664847	7694552	84	-65	142
WDH016	264.2	264.55	0.35	4.46	664847	7694552	84	-65	142
WDH016	295.32	297.7	2.38	1.75	664847	7694552	84	-65	142
WDH016	302.36	315.02	12.66	1.75	664847	7694552	84	-65	142
incl	306.85	307.66	0.81	10.95	664847	7694552	84	-65	142
WDH016	320.96	323.8	2.84	1.22	664847	7694552	84	-65	142

Amanda

➢ Mineralisation extended and remains open along strike and at depth ➢ Significant new results (>10gram x metres) include:

14m @ 1.06g/t Au from 29m in AMRC042 including 9m @ 1.38g/t Au from 32m

6m @ 1.65g/t Au from 56m in AMRC046

11m @ 0.97g/t Au from 33m in AMRC049

14m @ 0.77g/t Au from 30m in AMRC050

15m @ 0.69g/t Au from 73m in AMRC053

17m @ 0.76g/t Au from 47m in AMRC054

A program of 25 RC holes for an advance of 1598m has been completed with a specialised RC drill rig capable of drilling shallow angle RC holes in sloping terrain. This drilling has successfully extended mineralisation beyond the resource model and selected holes were drilled to infill portions of the resources model where the previous rig could not gain access. Overall, the results indicate mineralisation remains open along strike and at depth and further resource increases can be expected with further drilling. Follow up drilling programs at Amanda are currently being assessed. Full results are provided in Table 2 and a summary of significant results >5 gram metres are presented in Figure 2.

Figure 2

Amanda drilling locations and recent results (>5gm x m)

Table 2

Amanda significant intercepts (>2gm x m)

HoleID	Depth From (m)	Depth To (m)	Downhole Width (m)	Au (g/t)	Collar East (GDA94)	Collar North (GDA94)	Collar RL (GDA94)	Dip (degrees)	Azimuth (GDA94)
AMRC040	15	17	2	1.12	671195	7698273	102.9	-30	13
AMRC041	3	6	3	0.66	671248	7698286	104.6	-29	339
AMRC041	17	23	6	0.70	671248	7698286	104.6	-29	339
Incl	22	23	1	2.23	671248	7698286	104.6	-29	339
AMRC042	29	43	14	1.06	671288	7698292	105.2	-30	339
Incl	32	41	9	1.38	671288	7698292	105.2	-30	339
AMRC043	38	44	6	0.51	671328	7698298	104.2	-27	339
AMRC043	53	58	5	0.77	671328	7698298	104.2	-27	339
AMRC044	10	20	10	0.63	671368	7698308	104.2	-59	339
Incl	15	17	2	1.48	671368	7698308	104.2	-59	339
AMRC044	30	34	4	0.53	671368	7698308	104.2	-59	339
AMRC045	6	12	6	0.60	671366	7698309	105.3	-22	339
AMRC045	25	28	3	0.75	671366	7698309	105.3	-22	339
AMRC045	54	58	4	0.80	671366	7698309	105.3	-22	339
AMRC046	7	11	4	1.09	671406	7698324	104.3	-23	338
Incl	8	10	2	1.62	671406	7698324	104.3	-23	338
AMRC046	20	26	6	0.75	671406	7698324	104.3	-23	338
AMRC046	56	62	6	1.65	671406	7698324	104.3	-23	338
AMRC047	56	61	5	0.51	671288	7698254	96.2	-44	356
AMRC048	26	36	10	0.57	671076	7698189	84.8	-52	339
Incl	31	33	2	1.94	671076	7698189	84.8	-52	339
AMRC048	48	54	6	0.65	671076	7698189	84.8	-52	339
AMRC049	33	44	11	0.97	671075	7698191	85.1	-29	338
Incl	36	37	1	4.99	671075	7698191	85.1	-29	338
AMRC050	30	44	14	0.77	671106	7698207	87.9	-30	339
Incl	31	34	3	1.72	671106	7698207	87.9	-30	339
AMRC051	59	66	7	0.83	671145	7698220	89.9	-56	339
Incl	63	65	2	1.78	671145	7698220	89.9	-56	339
AMRC052	38	51	13	0.52	671144	7698222	90.2	-29	339
AMRC053	47	51	4	0.86	671181	7698237	92.9	-57	338
Incl	47	49	2	1.44	671181	7698237	92.9	-57	338