Antipa Minerals Ltd (ASX: AZY) (Antipa or the Company) is pleased to announce that it has been successful in an application for A$220,000 in additional funding from the Western Australian Government's Exploration Incentive Scheme (EIS) (Funding Grant).

Highlights The Funding Grant relates to proposed CY2024 exploration activities on the Company's 100%p owned Minyari Dome Project in the Paterson Province of Western Australia. Funds are to be applied to diamond core drill testing at a third Pacman greenfield target, the PM3 coincident magnetic and gravity high anomaly. Minyari Dome Project Funding Grants now total up to A$880,000 for exploration at GEO-01, Pacman and Tetris targets. Phase 2 CY2023 Minyari Dome Exploration Programme drilling is ongoing at the GEO-01 prospect and drilling at the large-scale greenfield Tetris and Pacman targets to commence in the coming weeks, with initial assay results expected to be returned in December.

Antipa's Managing Director, Roger Mason commented 'We are very grateful to be the recipients of another round of substantial EIS funding. This grant will directly contribute to drill testing at our Pacman PM3 target within our flagship, 100%-owned Minyari Dome Gold Copper Project. We thank the WA Government for their continued support of our technically rigorous discovery exploration activities. With drilling underway at our GEO-01 and soon the Tetris, PM1 and PM2 targets, it is an exciting time to be involved in the Antipa Minerals story as the team systematically unlocks the latent potential of our world class tenure.'

Funding Grant

This Funding Grant relates to Exploration Incentive Scheme (EIS) Round 28 and will apply from 1 December 2023 to 30 November 2024. The Funding Grant contemplates the completion of diamond core drilling, to be 50% EIS co-funded. This means the diamond core drilling expenditure at GEO-01, Pacman (PM1, PM2 and PM3) and Tetris (T1) targets is eligible for up to a combined A$880,000 refund from the WA Government under the EIS scheme. Diamond core drilling at the PM3 target is currently anticipated to occur during Q2 CY2024. Consistent with previous years, these various programmes and budgets will be subject to ongoing review based on results, field conditions, contractor availability and pricing, and other relevant matters.

Pacman Targets

The Pacman targets (PM1, PM2 and PM3) are located approximately 30km to the east of the Minyari deposit. PM1 is a magnetic high in a fold nose, bearing some resemblance to Havieron. PM2 is a gravity high with a partially coincident magnetic high, bearing a geophysical likeness with the regional Nifty high-grade copper deposit. PM3 is an ovoid discrete 1,200m by 900m gravity high anomaly with semi-coincident 1,200m magnetic high anomaly on larger curvilinear feature. As with PM1, the PM3 geophysical anomalism bears a similarity in style, geometry and scale to the Havieron deposit. All three Pacman targets are hosted by interpreted Havieron equivalent stratigraphy under approximately 350m of cover. The closest effective drill hole to any of the Pacman targets is located around 10km away. A detailed aeromagnetic survey has also recently been completed over the Pacman area to enhance geological and structural interpretation for refinement of the targets prior to drilling. Diamond core testing of the PM1 and PM2 large-scale greenfield targets is scheduled to commence in November, with the current programme also supported by a previously announced A$220,000 Western Australian Government co-funding drilling grant (refer to ASX announcement 10 October 2023).

Contact:

Tel: +61 (0)422 602 720

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