Alba Mineral Resources Plc announced three gold targets which have been identified from the review and interpretation of the first part of the magnetic data generated during Alba's recent airborne magnetic survey of certain high-priority gold targets across the Dolgellau Gold Belt ("DGB"). Two of the targets are located within the envelope of the Company's 100% owned Clogau-St David's Gold Mine in north Wales ("Clogau" or the "Mine") and represent the potential definition of new drill targets within the Mine. The third target has been identified on a fault that extends 4 km northeasterly in the DGB and thus falls within the Company's 100% owned Dolgellau Gold Exploration Project.

Alba commissioned airborne magnetic surveys over the Clogau, Castell Carndochan and Hafod Owen prospects, located in the DGB. These were flown between November 2023 and January 2024. These new targets identified to date only relate to one part of the completed airborne magnetic survey.

The interpretation of the survey data over the Carndochan andafod Owen prospects is awaited and will be reported on in due course. Unmanned aerial vehicle (or "UAV") magnetic surveys were carried out by Alba's specialist contractors between November2023 and January 2024, targetingthe Clogau, Castell Carndochan and Hafod Owen gold prospects withinthe DGB. The interpretation of the airborne survey over the Clogau prospect has generated three new targets of immediate interest.

These targets will be subjected to further focused exploration or "ground truthing" to confirm whether they host mineralised quartz veins. As the target gold quartz veins are nonmagnetic, proxy structures are used that can be identified in the magnetic data. The targeted gold quartz veins are typically associated with the ubiquitous normal faulting of east to north-east (ENE) strike.

Because these faults postdate the emplacement of the regional magnetic sill complex (estimated at a depth of 50 to 70 m below surface), they might exhibit discontinuities within the imaged magnetic field. These magnetic discontinuities are regarded as potential sites for further ground investigations, especially the intersection of structures. These are potential fault-related dilation structures, which may enhance permeability and consequent conduits for mineralised quartz veins.