Boab Metals Limited announced the commencement of the Phase VI drilling program at its 75% owned Sorby Hills Lead-Silver-Zinc Project located in the Kimberley Region of Western Australia. Phase VI Overview; The planned Phase VI drilling program will comprise some +3,700m of drilling across 31 RC that will be pre-collared by Mud Rotary drilling and completed with RC drilling. The primary objectives of the drill program will be to facilitate an increase in the portion of the Beta and the Norton Deposits classified as an Ore Reserve.

Both these objectives aim to significantly enhance the value within the latter stages of the current Sorby Hills mine life. Other objectives of the Phase VI program include: testing of an conceptual exploration target within the current Mining Lease and interpreted from historic seismic data; and finalisation of the maiden drill program at the Company's 100% owned Eight Mile Creek exploration project located immediately south of the Sorby Hills mining tenements. The Phase VI program has been designed to be targeted and cost-effective such that Boab will retain sufficient cash reserves to complete the ongoing Definitive Feasibility Study and progress to a Decision to Mine at Sorby Hills.

Beta Deposit; The Beta Deposit was drilled for the first time by Boab during the Phase V diamond drilling campaign. The final results from the drilling at Beta only became available after the cut-off date for the December 2021 Mineral Resource Estimation and therefore could not be included in the estimate. Best results included: SHRC_123: 27m @ 3.47% Pb & 37g/t Ag from 34m down hole: Including 3m @ 7.04% Pb & 95g/t Ag from 35m; 5m @ 5.60% Pb & 44g/t Ag from 45m; and 6m @ 4.50% Pb & 49g/t Ag from 55m.

SHRC_124: 17m @ 3.51% Pb & 46g/t Ag from 49m down hole: Including 8m @ 6.93% Pb & 90g/t Ag from 57m. The results conform with the interpreted mineralisation geometry and confirm the elevated silver grades with some metre intervals recording up to 360g/t silver (SHRC_124 from 57m) however they also provide scope for the expansion of the current resource envelope. The Phase VI program for Beta includes 18 drill holes for an estimated total of 1,800m of Mud Rotary and reverse circulation (RC) drilling.

Positive drilling results would extend the Resource, and support an improved Resource classification and the inclusion of a larger proportion of the Beta Resource in the Ore Reserve category.