Established Australian copper-gold producer and explorer, Aeris Resources Limited (ASX: AIS) (Aeris or the Company) is pleased to provide an update on exploration activities at the Constellation deposit, located within the Company's 100% owned Tritton tenement package in New South Wales.

Aeris' Executive Chairman, Andre Labuschagne, said 'The first round of assay results from the RC drilling have exceeded our expectations.

Intersecting high grade copper mineralisation within 10m from surface is remarkable.' 'The footprint of this near-surface copper mineralisation is also larger than we expected and remains open along strike to the south.

RC Drill Program - Technical Discussion

An RC drill program is underway at the Constellation deposit and is designed to test the extents of shallow oxide and supergene copper mineralisation first identified from diamond drill hole TAKD0021. The RC drill program has now defined the oxide and supergene copper footprint approximately 150m along strike and 130m down plunge. Mineralisation remains open to the south. 52 RC drill holes have been completed to date, with assays received for 22 and assays pending on the remaining 30. Two applications to the NSW Resources Regulator have been submitted for an additional 40 RC holes in the adjoining two exploration tenements.

The application to complete 19 RC holes in EL8084 has been approved. Between 10 to 15 RC drill holes intersected water at or within the mineralised horizon and were stopped. Work is currently underway to extend each hole via diamond drilling and once this work is completed the RC drill program will continue on new holes.

Higher grade copper mineralisation is primarily associated with the supergene copper horizon beneath the oxide horizon(s). The main copper mineral within the supergene zone, chalcocite, has been traced approximately 150m along strike and down to 130m below surface. The supergene horizon seems to be best developed along the mineralised structure, dipping moderately southeast and trending northeast-southwest.

Native copper has been observed in some RC holes. The assay results reported do not discriminate between oxide, supergene, native copper or primary copper minerals. Samples through the mineralised zones will undergo more sophisticated analytical techniques to quantify the proportion of oxide, supergene, primary and native copper within.

Contact:

Mr. Andre Labuschagne

Tel: +61 7 3034 6200

Web: www.aerisresources.com.au

About Aeris

Aeris Resources Limited (ASX: AIS) is a diversified mining and exploration company. The Company has a growing portfolio of copper and gold operations, development projects and exploration prospects. Aeris has a clear vision to become a mid-tier mining company with a focus on gold and base metals, delivering shareholder value.

Aeris' Board and management team bring decades of corporate and technical expertise in a lean corporate structure. Its leadership has a shared, and highly disciplined focus on operational excellence, and an enduring commitment to building strong partnerships with the Company's workforces and key stakeholders.

Headquartered in Brisbane, in FY21 Aeris is forecasting to produce between 22,500 and 23,500 tonnes of copper from its Tritton Copper Operation in New South Wales, and between 70,000 and 75,000 ounces of gold from its Cracow Gold Operation in Queensland.

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