The highest grades to date have been intersected at Aurelia Metals Limited's Federation project, as the current surface drilling program draws to a close and the Feasibility Study nears completion. The extensive two-year infill and extensional drilling campaign at the Federation project, located 10km south of the Company's operating Hera Mine, in the Nymagee district of NSW, continues to deliver exceptional results, including some of the highest grades to date. The surface drilling program, in support of the Federation Feasibility Study, has now been finalised, with drill rigs progressively demobilised from the site during fourth quarter of fiscal year 2022.

In fiscal year 2023, the AMI Exploration team will continue the mammoth task of processing the significant quantities of core generated through the infill drill program, interpreting the results and refining the Company's deposit model and strategy for further discoveries in the district. Step-out drilling along the Federation line of lode and regional exploration in the Nymagee district is planned. With the Federation deposit now defined to a level that supports the finalisation of the Feasibility Study, further grade control infill drilling and near mine exploration will be conducted from underground, once the Federation exploration decline is sufficiently advanced.

For practical purposes, a February cut-off has been applied to drill results for inclusion in the Feasibility Study mine design and economic analysis. The continued outstanding drill results serve to improve confidence in its understanding of the Federation deposit and its longer-term potential. The Federation Feasibility Study mine design will be updated in due course to take account of drilling subsequent to the Feasibility Study cut-off timing.

Drilling intersections have been very positive during this period with the highest grades intersected since drilling commenced at Federation. Drilling has now confirmed the occurrence of very high-grade cores to the Hesperides, Western and Northeast lenses in localised zones. Lenses consistently plunge steeply to the ENE and remain open at depth.

Further surface exploration planned for fiscal year 2023 will focus on testing for lenses with a similar plunge, along strike to the east and west of known mineralisation and underground exploration will test for depth extensions. Highlights: Stunning grades across gold, zinc, lead and copper were part of a set of the most recent results received from Aurelia's recent intensive infill drilling at the Federation project. A standout was: 20.0m @ 26.8% Pb+Zn, 12.5g/t Au and 0.8% Cu in FDD184W5 including 9.5m @ 48.2% Pb+Zn, 26.1g/t Au and 1.0% Cu including 0.7m @ 63.6% Pb+Zn, 378g/t Au, 69g/t Ag and 2.8% Cu.

Other remarkable intersections, included: 19.2m @ 22.9% Pb+Zn 3.9g/t Au and 1.4% Cu in FDD177W10 including 11.2m @ 36.5% Pb+Zn, 6.7g/t Au and 2.3% Cu including 1.0m @ 40.4% Pb+Zn, 25.8g/t Au and 7.3% Cu 33.4m @ 27.1% Pb+Zn, 0.3g/t Au and 0.5% Cu in FDD178W1 including 8.5m @ 45.3% Pb+Zn, 0.2g/t Au and 1.1% Cu and 3.3m @ 42.2% Pb+Zn, 0.2g/t Au and 0.7% Cu 19.5m @ 47.6% Pb,+Zn, 7.5g/t Au and 0.5% Cu in FDD188 including 2.0m @ 59.8% Pb+Zn, 56.5g/t Au and 0.0% Cu.