Dalaroo Metals : Namban Project Exploration Update

Namban Project Exploration Update

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Highlights

• • Large coincident PGE* and Cu-Ni-Au** anomaly outlined at Manning by auger geochemical sampling.

• • Pd anomaly with a peak value of 28ppb is coincident with Cu (605ppm) and Ni (206ppm) anomalism, covering 2km X 0.5km and remains open to north and south.

• • Previous broad Au anomaly outlined at east Manning extended to the south with Au values up to 43ppb, complementing previous soil geochemical Au values of up to 224ppb.

• • At Manning geophysical (IP & EM) surveys proposed to investigate significance of the new large PGE-Cu-Ni-Au anomaly.

• • At Cattady, anomalous zones of PGEs and Au were intersected in maiden drilling program, confirming presence of bedrock PGE mineralisation.

• • Cattady north-south trending mafic unit intersected values up to 0.15 g/t 3E (Pd+Pd+Au)

• • Additional land access agreements in place permitting expansion of geochemical sampling coverage at Manning, Cattady and other targets.

• • New detailed drone magnetic surveys have been completed at the Watheroo Chonolith prospect and the data is currently being assessed with results to be released in due course.

Dalaroo Metals Ltd (ASX: DAL, "Dalaroo" or "Company") provides an exploration update on activities at its Namban Project located ~ 150km north-northeast of Perth and adjacent to the regional centre of Moora in Western Australia (Figure 1).

Following the completion of the annual grain harvest, systematic auger geochemical sampling was completed covering larger areas at Manning with multi-element results received. The Manning anomaly lies immediately to the west of Minerals 260's (ASX: MI6) Mallory PGE-Au anomaly.

In addition, analytical results have been received from the maiden aircore (AC) drilling program at the Cattady PGE-Au anomaly within the Namban Project area.

*PGE: Platinum Group Elements - palladium (Pd) and platinum (Pt) **Copper (Cu)-Nickel (Ni)-Gold (Au)

Figure 1: Namban Project Location map, Cattady,Manning and neighboring prospects.

Manning

Systematic auger geochemical sampling totaling 537 samples has been completed by Dalaroo at the

Manning prospect, spaced on a pattern of 100 X 50m and 200 X 50m. A large coincident PGE-Cu-Ni-Au anomaly along the eastern boundary of the Namban Project tenement E70/4928 has been defined. The

PGE anomaly covers an area of 2 km X 0.5 km and remains open along strike to the north and south. The Pd anomaly with a peak value of 28ppb is coincident with Cu (peak value of 605 ppm) and Ni anomalism (peak value of 206 ppm) (Figures 2 and 3).

peak Pd 28 ppb

Figure 2: Manning auger geochemical sampling - Pd anomalism and Cu anomaly outline. See Minerals 260's Mallory PGE-Au anomaly located to the east of Manning.

The Geological Survey of Western Australia geological mapping and subsequent in field follow-up by

Dalaroo indicates the large Manning PGE-Cu-Ni-Au anomaly lies on or near the terrain boundary between Archaean age gneisses and mafic rocks and the Proterozoic age Moora Group to the west.

peak Cu 605 ppm

Figure 3: Manning auger geochemical sampling - Cu anomalism with Pd anomaly outline. See Minerals 260's Mallory PGE-Au anomaly located to the east of Manning.

Previous broad Au anomaly outlined at east Manning extended to the south with Au values up to 43ppb (Figure 4), complementing previous soil geochemical Au values of up to 224ppb.

224

peak Au 43 ppb

Figure 4: Manning auger geochemical sampling - Au anomalism with Pd anomaly outline. See Minerals 260's Mallory PGE-Au anomaly located to the east of Manning.