Cosmo Metals Ltd. announced the results from the first phase of RC drilling at the Minjina Prospect, within the Yamarna Project located ~150km east of Laverton in the Eastern Goldfields of Western Australia. Cosmo's nine-hole (1,627m) program targeted two distinct mineralisation styles at Minjina ~1km north of the Company's Mt Venn deposit: 1. VMS-style Zinc (Zn) - Lead (Pb) - Silver (Ag) mineralisation similar to the deposits of the Teutonic Bore District north of Leonora which includes the Teutonic Bore, Jaguar and Bentley deposits. 2. Magmatic Copper (Cu) - Nickel (Cu) - Cobalt (Co) mineralisation analogous to the Company's Mt Venn deposit.

Volcanogenic Massive Sulphide (VMS) Zn-Pb-Ag: VMS Zn-Pb-Ag mineralisation was first identified in 2017 from hole 17MVRC004 which intersected: 12m @ 0.8% Zn, 0.16% Pb, 3.3g/t Ag from 48m including o 2m @ 2.13% Zn, 0.39% Pb 3.56g/t Ag from 58m. Mineralisation in 17MVRC004 is non-magnetic and very weakly conductive and therefore difficult to detect with traditional electromagnetic (EM) surveying. To test the target model, the Company drilled a step-out hole, MIRC003 collared ~80m east of 17MVRC004.

MIRC003 intersected significantly broader and higher grade Zn-Pb-Ag mineralisation compared with 17MVRC004 including: 4m @ 0.37% Zn, 0.34% Pb, 4.81g/t Ag from 28m and, 8m @ 0.53% Zn, 0.12% Pb, 2.77 g/t Ag from 48m and, 7m @ 3.20% Zn, 0.82% Pb, 11.84 g/t Ag from 73m which included o 2m @ 5.0% Zn, 1.4% Pb, 18.83g/t Ag from 76m. 4m @ 0.49% Zn, 0.10 % Pb, 2.74 g/t Ag from 116m. Mineralisation in MIRC003 is open down dip and along strike with the above significant intersections contained within a broad zone of anomalous (>0.1%) Zn extending most of the entire length of the hole.

The Company interprets the `stringer' or vein style mineralisation intersected in MIRC003 to be within the footwall zone of a deeper, potentially more massive, mineralised system. As previously announced the review of down hole EM (DHEM) in MIRC003 identified a ~1,500S conductor off the end of the hole at ~250m to the top of the model. This deeper target fits the above interpretation and represents a compelling target for follow up drill testing as discussed further below.

The above results are in line with the portable X-ray fluorescence (pXRF) analyses announced by the Company in December and give confidence in this technique of rapid analyses for future programs.