ActivEX announced that drilling has been finalised at the Gilberton Gold Project located in North Queensland. Local Townsville contractor Eagle Drilling completed 37 angled RC holes, for a total advance of 4,275m at an average daily advance of 130m and only 2 days lost for breakdowns. A total of 380 samples were submitted to ALS in Townsville part way through the program with results expected towards the end of June.

The field team is currently finalising the remainder of the samples, which will be transferred to the ALS lab by the end of the week. The drill targets were located within the Mt Hogan and Split Rock tenements. ActivEX looks forward to updating the market with finalised drilling results once available.

The Gilberton Gold Project is situated in the Georgetown Province in northeast Queensland, approximately 300km west- northwest of Townsville. The Project comprises EPMs 18615, 18623,26232 and 26307, which in turn comprise a total of 114 sub-blocks and encompass an area of 358km2. ActivEX Limited holds 100% interest in all the tenements.

The 2022 drill program follows up the 1,800m RC program completed in 2021. the 2022 program is concentrated in the curvilinear elevated gold in soil region (blue polygon), and is associated with intense sericite/chlorite alteration of the pink Mt Hogan Granite. The next phase of drilling will extend along the 7km trend of the altered Mt Hogan Granite.

In addition, 2 RC holes were drilled to 100m depth each and will be pre-collars to 100m diamond core tails. The focus of further drilling beyond the southern margin of the Mt Hogan Granite will also focus on the Cobbold Dolerite, a mafic intrusive lithology that is interlayered with mudstone and schist (metasediment). The Cobbald Dolerite is a magnetic unit and high in iron which makes the site a good host for gold mineralisation as shown by the elevated gold in rock samples outside the margins of the Mt Hogan Granite.

Further results from the 2022 Mt Hogan RC drilling will be announced to the ASX as they are received.