Askari Metals Limited announced that the Company has received the results for the first nine (9) holes out of a total of forty (40) holes drilled as part of the Phase III RC drilling program completed on its 100% owned Burracoppin Gold Project, located in the Wheatbelt region of Western Australia along strike of the Ramelius Resources “Edna May Gold Mine”. In June 2022, the Company completed a third phase of drilling on the Burracoppin Gold project, comprised of forty (40) RC drill holes for 3,639m. The program tested several targets, including strike extensions of the mineralisation at Burgess Find, Christmas Gift, Lone Tree and Easter Gift.

The program also tested previously unexplored targets identified by the soil geochemical anomalies. The phase three RC drilling program at the Burracoppin Gold Project was designed as an extensional drilling program targeting interpreted strike extensions of the mineralisation previously identified at Burgess Find, Christmas Gift and Benbur in the North, and Easter Gift and Lone Tree in the South. The program also tested several targets identified by the Company's previously completed soil geochemical program.

This program highlighted potential gold mineralisation in the far northern portion of the Burracoppin project and to the east of Benbur. These geochemical anomalies represent highly valuable targets as they had never been tested by drilling before and may result in a significant increase in the project's future potential if they return positive results. The phase three project did not test below and near existing areas of mineralisation.

This is planned for future phases of drilling. Holes ABRCO33-ABRCO36 were drilled to the north of Burgess Find and aimed to test the potential strike extension of mineralisation in this area. ABRCO33 intersected 2m @ 1.09 g/t Au from 31m downhole including 1m @ 2.11 g/t Au from 32m.

This intersection was made on the eastern side of the magnetic anomaly striking through the area and did not align with the current mineralised intersections in the database and therefore warrants further investigation. ABRCO34 intersected 3m @ 0.75 g/t Au from 99m downhole including Im @ 1.17 g/t Au from 99m. This intercept aligns with the current interpreted mineralisation model and represents a deep intersection.

Hole ABRCO35 did not intersect any significant gold mineralisation. Hole ABRCO36 was drilled to the northwest of the Burgess Find prospect and failed to intersect any significant mineralisation in this area. Interpretation of the current results indicates that mineralisation may lie westward of its design.

This will be revisited once all the results have been received. Hole ABRCO37 was designed to test for a separately interpreted set of the mineralised units parallel and to the west of the primary mineralised system on the Burracoppin Gold Project. Hole ABRCO37 was abandoned at 9m depth and redrilled a few meters away as ABRCO37A.

Both holes intersected mineralisation near the surface, with hole ABRCO37 intersecting 4m @ 1.76 g/t from the surface, including 3m @ 2.11 g/t Au from the surface. Hole ABRCO37A intersected 4m @ 0.97 g/t Au from surface including 1m @ 1.31 g.t Au from surface. These intercepts highlight the potential surface gold mineralisation in the laterite cover on the Burracoppin Gold Project, which will be further investigated through future drilling campaigns.

Holes ABRCO38-ABRCO39 were drilled to the south of Christmas Gift and aimed to test the potential strike extension of mineralisation in this area. ABRCO38 intersected 3m @ 2.01 g/t Au from 45m downhole including 1m @ 5.06 g/t Au from 46m. ABRCO39 intersected 10m @ 1.38 g/t Au from 34m downhole including 3m @ 3.63 g/t Au from 41m as well as including 1m @ 8.74 g/t Au from 42m.

Slightly deeper downhole, an intersection of 2m @ 1.25 g/t Au from 63m, including Im @ 2.06 g/t Au from 63m, was also made.