Antilles Gold Limited advised that publication of the revised Scoping Study for the La Demajagua mine in Cuba will be delayed for another 3 to 4 weeks due to the time it has taken to receive additional antimony assays from the 29,000m of drill cores undertaken in 2022 so that they can be incorporated in the JORC Resources and mine planning for the project. The majority of assay results are now with mining consultants for inclusion in the final geological model for the planned open-pit mine, and as soon as the updated JORC Resources and pit optimisations have been received the Scoping Study can be promptly finalised. Following completion of the Scoping Study, four outstanding matters need to be addressed in order to finalise the Definitive Feasibility Study ("DFS") for the La Demajagua open pit mine; Finalisation of pump tests which are currently being carried out to estimate costs of mine dewatering; Formalisation of concentrate off-take agreements; Establishment of Reserves and final mine planning; In-principle project financing arrangements.

With the revised Scoping Study in hand, negotiations will be able to be progressed on financing arrangements.