Codrus Minerals provide an update on exploration activities across its highly prospective Western Australia gold portfolio. The Company has received assays from its maiden diamond drilling program at the Silver Swan South Project, located ~40km north of Kalgoorlie in WA. The program, comprising ~1,464m of diamond drilling, was designed to test both nickel and gold targets along the Fitzroy Fault (the geological structure that hosts the mineralisation at the nearby >5Moz Kanowna Belle gold mine). The drilling intersected prospective ultramafic and volcanic sequences. Assays generally returned low-level anomalous results for gold but supported by strong multi-element anomalism which the Company believes will assist in future exploration targeting on the tenements. Targeting has also now been completed for the Red Gate Gold Project in the Edjudina Mining Centre and a Reverse Circulation (RC) drill rig secured. Drilling is scheduled to commence later this month. Silver Swan South The Silver Swan South Project is a gold and nickel project located approximately 40km north-east of Kalgoorlie that consists of seven granted tenements covering a total area of 45.2km2. The Project lies approximately 10km north-east of the Kanowna Belle Gold Mine operated by Northern Star Resources Limited and lies along the structural trend of the Fitzroy Fault (the primary control on mineralisation at Kanowna Belle). The Company's initial drilling program at Silver Swan South targeted the Black Eagle, Black Falcon, Black Hawk and Venus prospects, with a single diamond hole completed at each prospect to intersect bedrock. At Black Eagle, Hole SNDD001 was targeted beneath historic drilling that intersected encouraging gold mineralisation including SNAC070: 10m at 3.2g/t Au from 68m at the interpreted base of transported cover. SNDD001 hole intersected: 0m - 78m: sand, clays (transported cover) 78m - 143.2m: saprolitic sediments, gabbro, and minor felsic tuff 143.2m - 149m: sheared talc-serpentinite, with a thin band of felsic tuff 149m - 382.2m: (End-of-Hole (EOH)) package of interbedded sediments, mud-, silt- and sandstone with extensive quartz veining (1-20mm), and from 172m there was disseminated pyrite. The hole did not intersect any gold below the historic intercept, potentially indicating that the mineralisation at the base of paleo cover may not be in-situ. In the ultramafic the hole did intersect a zone of anomalous nickel mineralisation with 9.7m grading 0.21% nickel and 0.17% sulphur from 143.2m. Given the early stage of the drilling and the embryonic nature of the geological understanding at the project, this is an encouraging result. At Black Hawk, hole SNDD003 was targeted at recent bottom-of-hole intercepts from SNAC027: 7m at 1.3g/t gold from 52m, (including 2m at 3.5g/t from 57m) at in felsic stratigraphy adjacent to the interpreted trend of the Fitzroy Shear Zone.