ALT Resources Limited (ASX: ARS, Alt or the Company) is pleased to provide the following exploration update for operations at its Mt Ida and Bottle Creek Gold Projects (the Project) incorporating the Bottle Creek, Quinn's and Mt Ida South project areas, located 90km northwest of Menzies in Western Australia's Northern Goldfields.

Alt has commenced a 3,500 metre RC drilling program on Friday 21st February 2020, at the Mt Ida Project with drilling currently underway. The Company has elected to fast track exploration drilling with Challenge Drilling mobilising an RC rig to site on the 20th February.

The Company will be drilling several deposits and new prospect areas during this current program of RC drilling, including the Single Fin prospect which is south and along strike from the Boags open pit at Bottle Creek. Additional drilling will be undertaken at the Shepherds Bush deposit and the newly acquired White Eagle prospect recently purchased from Mr Bruce Legendre and announced to the market on 18th December 20191.

Alt technical staff have spent several months reviewing historical data from work undertaken by Hamill Resources Ltd, Newcrest Mining Ltd (ASX:NCM) and La Mancha. The stratigraphy, structure and mineralisation relating to Ora Banda Mining Ltd's (ASX:OBM) historical Timoni gold mine and the Timoni Mineralised Trend (TMT) have also been reviewed.

MT IDA PROJECT, TIMONI MINERALISED TREND

The TMT area is located approximately 6 kilometres north-east of the Bottle Creek mining leases. The Company's Mt Ida tenements cover significant parts of the TMT, surrounding Ora Banda Mining's lease M29/2 and M29/165 which contains the historic Timoni underground gold mine and a current contained JORC 2004 Indicated and Inferred resource of 320,000t at 13.8g/t Au for 140,000oz Au2.

The TMT is considered to be highly prospective for high grade gold mineralisation. Known deposit styles include high grade shear/vein hosted gold and base metal sulphides. Historically over 300,000 ounces of high-grade gold has been mined from the various mines in the Copperfield/Mt Ida area3. Numerous brownfields exploration opportunities are present with the potential to make many potential new discoveries.

The TMT is a structure located adjacent to the western margin of the Copperfield Granite, and sits to the east of, and parallel to, the Bottle Creek Trend. The structure hosts the Copperfield Mining Centre. Mineralisation along the TMT generally comprises narrow, high grade quartz veins hosted predominantly by mafic volcanics (amphibolites), ultramafic intrusions and anorthosite. Gold mineralisation is primarily associated with NW-SE striking shear zones, that contain mineralised lenticular quartz veins. Mineralisation is observed in the form of free gold, pyrite, pyrrhotite, galena and minor amounts of chalcopyrite and sphalerite, hosted within a strongly developed carbonate-biotite wall rock alteration envelope.

The Ballard Shear zone is located in the east of the Mt Ida area and is interpreted to be the northern continuation of the Zuleika Shear. The Ballard shear hosts the Company's Quinn's, Tim's Find, Spotted Dog and the newly discovered Shepherds Bush deposits. The Ballard Fault is noted by a series of shear zones, trending north-south transecting the eastern portion of the Mt Ida area and is approximately conformable to stratigraphy.

The Ballard Shear transects a series of mafic and ultramafic flows with associated interflow sediments. Conformable dolerites and gabbros dominate, with lesser occurrences of pegmatite and aplite intrusions. The shear zone is observed at surface as an outcropping chert unit. Drilling in the Ballard shear zone has intersected silicified sediments, iron rich rocks, graphitic shales and calcareous schists with abundant sulphides. Gold mineralisation at surface is commonly seen in gossans and hosted in pyrite, arsenopyrite and pyrrhotite bearing quartz veinlets within the shear.

In the Mt Ida area, a folded greenstone belt forms a southerly plunging antiform, called the Kurrajong Anticline and the Copperfield Granite occurs within it's fold axis. The anticline is interpreted to be an isoclinal fold plunging at a low angle to the south. The fold has been overturned to the east-north east. This model is supported by the sub-vertical dips measured on the eastern Mt Ida limb and western Timoni/Bottle Creek limb. In the NE of the Mt Ida area folding is interpreted to be recumbent. Strong mineral lineations plunging to the south have been measured, this is indicative of a compressional environment and further support the proposed geological model in this area.

Contact:

Peter Nesveda

Tel: +61 (0) 412 357 375

Email: peter@intuitiveaustralia.com.au

About Alt Resources

Alt Resources is an Australian based mineral exploration company that aims to become a gold producer by exploiting historical and new gold prospects across quality assets and to build value for shareholders. The Company's portfolio of assets includes the greater Mt Ida and Bottle Creek Gold Projects located in the Mt Ida gold belt of Western Australia and the Paupong IRG Au-Cu-Ag mineral system in the Lachlan Orogen NSW. Alt Resources, having acquired the Mt Ida and Bottle Creek Gold Projects with historical and under-explored tenements in the Mt Ida gold belt in the Northern Goldfields of WA, aims to consolidate the historical resources, mines and new gold targets identified within the region. Potential at Mt Ida exists for a centralised production facility to service multiple mines and to grow the Mt Ida Gold Belt project to be a sustainable and profitable mining operation

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