Caprice Resources Ltd. provided an update on the Northampton Polymetallic Project (Northampton), located in the Northampton Mineral Field of Western Australia. Northampton is a historical mining area with over 100 years of base metals mining, with minimal on-ground exploration in the last 50 years. Caprice's maiden drill program at Lady Sampson consisted of 11 RC holes for 938m.

This is the first time that any drilling has been done in the area. The first drill hole (23NHRC001) returned excellent results, with outstanding grades and widths of mineralisation from 39m down hole. The remaining holes (23NHRC002 - 011) have confirmed the mineralisation, delineating a north-north- west strike with a likely steep easterly dip.

Anomalism and mineralisation has been delineated over at least 1,000m and remains open at depth and along strike. The next round of drilling is scheduled to commence in the next 1 to 2 weeks. This program will test strike extents and depth continuity and will be of similar magnitude to the maiden RC program.

The Lady Sampson Prospect, approximately 40km southeast of the town of Northampton, incorporates a +1,000m long base metal target, defined by historical soils and costeans. The anomaly is focused on a small historical lead mine, Lady Sampson, where one underground level was developed to 30 feet, but failed due to poor ground conditions. An 11 hole RC program for 938m was recently completed by Caprice at Lady Sampson.

The drilling tested the north-south oriented base metals anomaly over c.600m of the total 1km strike of the surface anomaly, with hole locations guided by the historical costeans. The first hole, 23NHRC0001 was selectively sampled on 1m intervals, returning some outstanding grades and widths. Results from this hole were released to ASX on 7/3/23 and included: 14m @ 7.6% lead, 1.1% zinc & 3.1 g/t silver from 39m (downhole width), Incl.

6m @ 11.4% lead, 1.7% zinc & 4.4 g/t silver from 40m, and 3m @ 4.2% lead, 2.2% zinc & 4.6 g/t silver from 67m to EOH. The assays from the remaining drill holes (23NHRC002 011), all sampled in their entirety, have now been received. Multiple holes returned significant intercepts of lead, zinc and silver, with better results including: 7m @ 3.5% lead & 1.1 g/t silver from 59m in 23NHRC011, incl.

2m @ 7.0% lead & 2.1 g/t silver from 59m, and 5m @ 3.1% lead & 1.8 g/t silver from 46m in 23NHRC008, incl. 1m @ 7.4% lead & 2.7 g/t silver from 50m, 6m @ 2.2% lead & 1.0 g/t silver from 53m in 23NHRC008 and 2m @ 3.0% zinc & 1.1 g/t silver from 56m in 23NHRC0004. Whilst the mineralisation intercepted to date is overall lead dominant, there is some variability in the metal mix, with areas of zinc dominance, and some strong copper anomalism in 23NHRC0010, the most northerly hole of the project with 1m @ 0.7%Cu and 5.4g/t Ag from 14m.

The drilling clarified the dip and orientation of the mineralisation, which is now interpreted to be steeply east dipping. Given the holes were drilled towards the east, three of the holes are interpreted to have gone underneath the target structure (23NHRC002, 003, & 004). The next round of drilling will have holes drilled towards the west, which will give better insights into the metal distribution and should yield a more optimal intersection of the mineralised zone.