Austin Metals Limited announce the 1m composite re-assays from drilling undertaken late last year as well as new channel sample results and diamond drilling. The results confirm significant widths and grades at both Brunswick Hill and Brians and have identified clear mineralised structures for further follow up. The Brians prospect has been subject to various phases of exploration by Austin Metals in 2021 and 2022 in order to vector to further high-grade gold mineralisation previously observed in the pit including rock samples with visible gold (See AYT announcement 12 April 2021).

Various new assay results are reported here including, channel sample assays across the gold mineralisation exposed in the pit, 1m composite re-sampling RC assays as well as shallow aircore drilling (4 holes for 195m). The best results returned: 2.6m at 16.4 g/t Au from surface in SAS34 incl. 0.5m at 26.5 g/t Au (channel sampling); 8m at 1.3 g/t Au* from surface in SCI005 incl.

1m at 7.0 g/t Au (RC re-sampling); & 2m at 1.2 g/t Au from 26m in SAAC169 (aircore drilling). Due to the complexity of the mineralised zones returned from the new assays, a detailed 3D review of the data was completed. The work has proven invaluable in the understanding of the complex morphology of mineralisation at Brians.

Various important observations have been made from the work: The overall trend of mineralisation is north-trending with a prominent `offset kink' just north of the pit where channel channel sampling was completed; Drillhole SCI005 has intersected the northern edge of the kink at an oblique angle and mineralisation is open and untested to the north along strike; The majority of the drilling (angled toward the south) has not been optimally orientated to track the newly interpreted mineralised structure as currently understand it; and The high-grade zone intersected at surface in the channel sampling: 2.6m at 16.4 g/t Au and previously intersected in 20AUSRC20: 2m at 20.1 g/t Au is open and untested down plunge to the north. Future drilling will need to be optimally oriented in order to have successfully test this target.