Antipa Minerals Ltd (ASX: AZY) (Antipa or the Company) is pleased to announce that it has received a further three funding grants from the Western Australian Government's Exploration Incentive Scheme, increasing the total funding to be received to $870,000 across four grants (Funding Grants).

Highlights

Funding Grants totalling $660,000 relate to proposed exploration activities on the Company's 100%-owned Minyari Dome Project in the Paterson Province of Western Australia, namely drill testing of a deep plunge target at Minyari, and the Tetris and Pacman greenfield targets. The balance of the Funding Grants, being $210,000, are to be utilised to test two targets which form part of the Company's $30m Paterson Project farm-in agreement with IGO1 located 15km along strike from Rio Tinto's Winu copper-gold-silver development project

Antipa's Managing Director, Roger Mason commented: 'We are very pleased to have received this further substantial EIS funding, which assists with the drilling of some of the most exciting targets at our flagship, 100%-owned Minyari Dome Gold Project. I would like to take this opportunity to again thank the WA Government for continuing to support strong technically and economically driven exploration activities targeting key resources. We now look forward to commencing our 2023 exploration program at Minyari Dome, with preparation and planning finalised for up to 15,000m of growth-orientated drilling set to commence in May.'

Funding Grants

The Funding Grants contemplate the completion of diamond core (DD) drilling, to be 50% Exploration Incentive Scheme (EIS) co-funded. This means drilling expenditure totalling $1.74m (including $420,000 of IGO funds) would be eligible for a $870,000 refund from the WA Government under the EIS scheme. At the Company's 100%-owned Minyari Dome Project, three Funding Grants relate to proposed drilling of a deep plunge target at Minyari (EIS Round 26), and the Tetris and Pacman greenfield targets (both EIS Round 27). The Tetris target is a Havieron look-alike partially co-incident magnetic high and gravity high - similar bulls-eye shaped, sized and amplitude magnetic anomaly as Havieron

At the Paterson Farm-in Project with IGO, the Funding Grant (EIS Round 27) relates to proposed drill testing of two magnetic high Havieron analogue targets located 15km along strike from Rio Tinto's Winu copper-gold-silver development project. The Funding Grants for EIS Rounds 26 and 27 apply from 1 December 2022 to 30 November 2023 and from 1 June 2023 to 31 May 2024 respectively. The plan is for the majority of drilling the subject of the Funding Grants to be completed as part of the upcoming CY2023 exploration programmes, both on Antipa's 100% owned ground and by IGO on the Paterson Farm-in Project (which Antipa currently owns 100%). 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. Antipa would like to acknowledge the ongoing support provided by the WA Government through its EIS programme for the Company's Paterson Province exploration programmes. The EIS co-funded drilling programme preferentially funds high quality, technical and economically based projects that promote new exploration concepts and are assessed by a panel on the basis of geoscientific and exploration targeting merit

Contact:

Tel: +61 (0)8 9481 1103

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