Ballymore Resources Limited announced that further broad gold intersections have been received from the recently completed drilling programs within the Ravenswood Project, located near Charters Towers in North Queensland. Follow-up drilling at Seventy Mile Mount targeted the breccia zone recognised by Ballymore with similarities to other mineralised breccias present at Mount Leyshon and Mount Wright, both major gold producers in the local region in the past 30 years. Previous drilling by Ballymore in November 2021 reported 40m @ 1.06 g/t Au (BSMDD001: 47 ­ 87m) and further step-out drilling has confirmed broad intervals of gold mineralisation associated with this breccia zone, including 57m @ 0.24 g/t Au (BSMRD003: 23 ­ 80m) and 61m @ 0.23 g/t Au (BSMRD004: 23 ­ 84m).

Drilling also encountered narrow, high grade zones including 2m @ 4.78 g/t Au (BSMRD003: 215 ­217m). Ballymore is highly encouraged by these results, which confirm the potential of this mineralised breccia to host a significant shallow gold system. In addition to these works at Seventy Mile Mount, initial drilling was completed to test beneath shallow workings in the King Solomon area, some 37km east-northeast of Charters Towers, and has reported a number of shallow intersections such as 17m @ 0.61g/t Au (BKSRC001: 45­62m), including 9m @ 1.01g/t Au (BKSRC001: 45­54m).

This drilling has demonstrated the potential for this area to host a shallow gold system that will be further investigated in follow up works. Seventy Mile Mount is located on EPM 18424 and within the highly prospective Mount Leyshon Corridor, approximately 20km south of Charters Towers and 7km east-northeast of the Mount Leyshon gold mine. Ballymore completed its initial drilling program in November 2021 and targeted a second breccia which Ballymore identified on the northern margin of the Seventy Mile Mount main breccia pipe.

The surface expression of the second breccia zone is approximately 300m x 50m in area and it remains poorly tested at depth. The initial drill program at Seventy Mile Mount comprised two diamond drill holes for a total of 654m, testing a gap in previous drilling on the targeted breccia. Both holes intersected broad zones of altered breccias similar in style to Mount Leyshon mineralisation.

These mineralised breccias were consistent with the geological model developed based on mapping completed by Ballymore. As reported in the ASX announcement dated 4th March, 2022, assay results have confirmed the presence of broad, shallow zones of gold mineralisation associated with the mapped target breccia. Significant intersections included: 40m @ 1.06 g/t Au including 3m @ 9.38 g/t Au (BSMDD001: 47 ­ 87m); and 15m @ 0.55 g/t Au including 5m @ 1.44 g/t Au (BSMDD002: 76 ­ 91m).

Ballymore subsequently completed the Stage 2 drilling at Seventy Mile Mount in August, including 3 holes for 1,048.8m. Drilling targeted the down-plunge extension to breccia-hosted gold mineralisation as well as an IP geophysical target under the main breccia pipe. All three holes encountered a number of intervals of brecciated granodiorite infilled with pyrite mineralisation.

A number of significant intersections were reported including: 57m @ 0.24 g/t Au (BSMRD003: 23 - 80m); 2m @ 4.78 g/t Au (BSMRD003: 215 ­ 217m); and 61m @ 0.23 g/t Au (BSMRD004: 23 ­ 84m).