Carawine Resources Limited announced the latest assay and structural logging results from the recently completed diamond drilling program at its Hercules prospect, identifying a new "Vein Offset Shear" zone that opens up the down-dip and along strike potential of gold mineralisation. Hercules is part of Carawine's Tropicana North Gold Project, located in the north-eastern goldfields of Western Australia. Results reported relate to drill holes TNDD007 (extended) and TNDD015, and a structural study completed subsequent to the drilling.

No significant assays were returned from TNDD007 or TNDD015. This is explained by the recognition of the Vein Offset Shear zone, which is oriented parallel to the drilling direction and offsets the main gold mineralised zone at Hercules to the west and at depth, beyond the current limits of drilling. Hercules is an advanced gold prospect held by Carawine's Thunderstruck Joint Venture ("Thunderstruck JV", Carawine 90% interest); part of the Company's large Tropicana North Gold Project located in the north-eastern goldfields of Western Australia.

Gold mineralisation at Hercules is hosted by multiple parallel veins and shears within a wide, steeply dipping mineralised zone striking northeast. To date, mineralisation has been reported along a 340m strike length, extending from 35m to 250m below surface, and remains open. The current phase of drilling, designed to define the geology, structure and grade characteristics of the gold mineralisation and test its extents along strike and at depth, has now been completed with 21 holes drilled for a total 6329.9m.

Assay results reported are from the extension of drill hole TNDD007, and drill hole TNDD015 with assays pending for a further six drill holes: TNDD012A and TNDD016 to TNDD020, expected within the next 1 to 2 months. An expert structural review of the deposit, completed subsequent to the completion of drilling, has identified a major shear zone (named the "Vein Offset Shear") parallel to the main drill direction. This shear zone is interpreted to have offset the mineralisation in the region targeted by drill holes TNDD007, TNDD015 and TNDD018, by approximately 100m at depth and 60m to the northwest.

TNDD007 and TNDD015 are interpreted to have missed the main zone of mineralisation as they were targeted at the down-dip extent of mineralisation based on the previous interpretation, with the newly identified Vein Offset Shear zone displacing the mineralisation further west, beyond the current hole depths. The structural review has identified the potential for the main mineralised zone to remain open to the southwest, beyond the limits of current drilling. This provides a new area to target extensions to the high- grade gold mineralisation at Hercules, including along strike from the previously reported interval of 4m @ 40.1g/t Au from 239m in TNDD014.

Previously reported high-grade gold intervals in NLC112 (3m @ 12.0g/t Au from 49m) and TNRC001 (3m @ 15.2g/t Au from 125m) are now interpreted to be part of a parallel mineralised zone east of the main mineralised trend. The design of a follow-up diamond drilling program targeting the offset vein position, and southwest strike extent of the Hercules mineralisation has commenced. The program will be finalised after all assay results have been received and a planned Mineral Resource estimation is completed.

This drilling is expected to commence early in Fourth Quarter 2022.