ActivEX Limited provided the following summary of high-grade drilling results at the Mt Hogan historic gold mine, part of its 100%-owned Gilberton gold project, which featured an intersection. A total of 4,275m was drilled, comprising 38 angled drillholes within the Mt Hogan and Split Rock Tenements. Assays have been received from 9 Reverse Circulation (RC) holes out of 38 RC holes drilled.

This RC drill campaign at the Mt Hogan historical opencut/underground mine, Charlie's South and Charlie's North prospects was designed to test the extent of known gold mineralisation at depth and along strike extensions. The RC drill program has been conducted with nominal spacing of 50­100m, at depths of up to180m below surface in the drilling target areas. The cross section clearly shows evidence of multiple parallel sub-horizontal lodes.

When the assay results from the remaining 29 RC holes have been finalised, they will be reported to the market. The Gilberton Gold Project is situated in the Georgetown Province in northeast Queensland, approximately 300km west­northwest of Townsville. The Project is in an area which is prospective for several metals (Au, Ag, Cu, Ta­Nb, Co) and a wide range of deposit styles; plutonic IRGS, porphyry breccia, and epizonal /epithermal IRGS.

The world­class Kidston breccia hosted Au­Ag deposit occurs in similar geological terrain approximately 50km to the northeast. The Project consists of EPMs 18615 (Mt Hogan), 18623 (Gilberton), 26232 (Gum Flat) and 26307 (Split Rock). The Project comprises a total of 114 sub­blocks and encompasses an area of 358km2.

ActivEX Limited holds 100% interest in all the tenements. Geology in the Georgetown region is dominated by Proterozoic age granitic and metamorphic rocks. These basement rocks have been intruded by three phases of intrusives in the SiluroDevonian, Permo-Carboniferous and Permian with the Mt Hogan Granite dated as Decvonian in age.

The Gilberton Gold Project is dominated by auriferous gold lode systems hosted by felsic intrusives and metasediments into which the intrusives have been emplaced. The level of emplacement or these intrusive events within the Georgetown to Gilberton Region have been described by Drs Morrison & Simon Beams et al in their 2019 report "Metallogenic Study of the Georgetown, Forsayth and Gilberton Regions Nth Qld". Within the Gilberton Gold Project, the main metallogenic camps are: Plutonic Hypozonal and Plutonoic Epizonal.

Gold mineralisation is concentrated around the south-eastern margin of the Mt Hogan Granite and consists of a set of stacked, shallow, southwest dipping (15-20°) quartz - sulphide veins. The veins are composed of medium grained, euhedral buck quartz crystals that have been brecciated and recrystallised by later movement of the vein's structures. Cores of the veins are often filled with sulphide.

The lenticular veins are enveloped by an alteration halo of sericite (proximal), chlorite and epidote (distal) and appear to have developed in tensional openings produced by north-easterly thrusting.