Australian Mines Limited announced that a comprehensive, and independent, exploration targeting report prepared by RSC Consulting Ltd. has identified several new gold and copper targets in addition to potential extensions to the known cobalt-scandium-nickel mineralization at the Company's 100%-owned Flemington Project. Australian Mines' Flemington Project is one of the most advanced cobalt-scandium-nickel projects in New South Wales. The Company's strategy with regards to this project, therefore, has been focused almost exclusively on progressing Flemington towards production. In line with this strategy, as previously announced Australian Mines purchased an existing water allocation from the open market to support any future processing plant on site as well as applying for a mining lease over the area. The Company has also sought to increase the overall tonnage of the Mineral Resource 1 at Flemington. For example, in August 2019, the results from the first phase of an expansion drilling program at Flemington resulted in a tripling of cobalt mineralization footprint. A second drilling program, initiated in October 2019 but whose results have been delayed until 23 June 2020 indicates that the cobalt and scandium mineralisation remains open to the west and north of the existing Mineral Resource 4. This provides Australian Mines with the opportunity to update the current Mineral Resource 5 by completing a diamond core drilling program during the 2020/21 field season to acquire lithology density measurements over the areas of known mineralization at Flemington. Given Australian Mines' primary focus remains the development of its globally significant, 100%-owned, Sconi Cobalt-Nickel-Scandium Project in North Queensland, the Company would anticipate that any diamond core drilling program at Flemington may occur in the second half of the 2020/21 financial year.