Dacian Gold : Further Significant Intersection below the Jupiter Open Pit

21 DECEMBER 2021

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FURTHER SIGNIFICANT INTERSECTION BELOW THE JUPITER

OPEN PIT

HIGHLIGHTS

• Drilling beneath the Heffernans open pit at the Jupiter mining complex extends mineralisation to a depth of more than 500m below the base of the open pit
• Significant intersection at Heffernans of 215.2m @ 0.9g/t from 598.0m, including intercepts of 1: o 27.5m @ 1.7g/t from 605.8m
  o 4.1m @ 9.6g/t from 807.0m
• Jupiter mining complex syenite pipes span a strike extent of 2km with syenite hosted bulk stockwork mineralisation remaining open at depth
• Four further diamond drill holes have been completed at Heffernans and Doublejay, with assays pending; additional follow up holes are planned

Dacian Gold Limited (Dacian or the Company) (ASX: DCN) is pleased to announce an update of its Jupiter mining complex extension program with a further significant drill result below the Heffernans open pit, located at its Mt Morgans Gold Operation (MMGO). The result has intersected broad mineralisation in the Jupiter syenite intrusive system 500m below the base of the Heffernans open pit that points to the potential scale of the opportunity.

Managing Director, Leigh Junk commented: "This very significant intersection, is the deepest hole ever completed at Heffernans and confirms mineralisation continues 500m from the base of the open pit, and remains open. We are extremely encouraged by the continued success of this extension program and what it could mean for the future of the Jupiter mining complex with drilling also underway at the Doublejay and Ganymede syenite pipes."

• 1 For a Table of all intercepts see Appendix 1.

HEFFERNANS DRILLING RESULT

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Diamond drilling designed to test for mineralisation and structural orientation below the Heffernans open pit, intersected wide zones of mineralisation in 21JUDD0813, within the syenite. The result follows the initial drilling from the Heffernans extensional program (see ASX announcement 25 October 2021).

The Jupiter syenite intrusive complex spans a north south extent of approximately 2km with variable width ranging between 50m to 300m. The complex consists of three main identified syenite pipes namely, Heffernans, Doublejay and Ganymede.

Hole 21JUDD0813 intercepted broad mineralisation of 215.2m @ 0.9g/t from 598.0m, including:

1. 27.5m @ 1.7g/t from 605.8m

1. 4.1m @ 9.6g/t from 807.0m

1. 14.0m @ 1.4g/t from 693.0m

1. 5.5m @ 2.1g/t from 718.1m

1. 7.2m @ 1.9g/t from 764.8m

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Figure 1: Section view facing west of the Heffernans syenite

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For	Figure 2: Plan view of the Jupiter syenite complex with the current final pit design - Showing drill hole
	traces for this exploration campaigns completed and in progress drilling

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For personal use only

Figure 3: Plan view of Heffernans with schematic section of syenite at approximately 430m below surface,

and showing traces of diamond drilling completed in this exploration program

- ENDS -

This announcement has been approved and authorised for release by the board of Dacian Gold Limited.

For further information, please contact:

Leigh Junk	Phil Russo
Managing Director	GM - Corporate Development
Dacian Gold Limited	Dacian Gold Limited
[phone]	[phone]
[e-mail]	[e-mail]

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