Catalyst Metals Limited announced that the Resource at its Henty Gold Mine in Tasmania has increased by more than 10% to 368,000oz at 4.3 g/t. The increase in resources accounts for depletion from FY22 production. The areas showing significant gains in the FY22 Resource include Zone 96, Intermediate and Darwin South, which are all key production areas in the mining plan. This is the result of the aggressive drilling program undertaken in the mine.

Importantly, by increasing Resources at these key production areas, Catalyst makes available more inventory in areas that are accessible for relatively low capital investment. Much of the FY22 drilling effort was directed to the recently announced Cradle Zone which was not included in the 2022 Mineral Resource estimate. The Cradle Zone has been subject to very little exploration historically due to the difficulties in accessing it.

However, drilling has revealed the presence of high-grade mineralisation. The Catalyst Board has approved a significant exploration programme and budget at Henty in FY23, with the strategic objective of identifying future production zones. It is expected that the results of this activity will be reflected in future Mineral Resource updates.

MINERAL RESOURCE ESTIMATE; CSA Global Pty Ltd. (CSA Global), a member of the ERM group of companies, was commissioned by Catalyst to prepare a Mineral Resource estimate (MRE) for the Henty Gold Mine (the "Project"), located in Tasmania, Australia. CSA Global considers that data collection techniques are largely consistent with industry good practice and suitable for use in the preparation of a MRE to be reported in accordance with the JORC Code. Available quality control (QC) data supports use of the input data.

The Henty deposit comprises twelve individual model areas and seven model areas have been updated in this MRE (Darwin North, Darwin South, Intermediate Zone, Mount Julia, Sill Zone, Zone 15, and Zone 96). Four areas; Darwin Central, Newton Zone, Tear Away Zone and Read Zone were not required to be updated as part of the current MRE but they were reported at a new cut-off grade of 1.70 g/t Au . A three-dimensional (3D) block model representing the mineralisation was created for each area using Datamine soware.

Diamond core and underground face samples were used to interpolate gold grades into blocks using Ordinary Kriging. The block model was validated by visual checks, statistical comparisons, and swath plots to ensure that the block model was a good representation of the drillhole composite data. The Mineral Resource is considered to have reasonable prospects for eventual economic extraction (RPEEE) given the access to critical infrastructure, the volume and grade of mineralisation available for mining and the RPEEE criteria which have been applied prior to reporting the Mineral Resource.

On Figure 1, the individual zones that comprise the mineral resources are presented in longitudinal projection.