E79 Gold Mines Limited provided a drilling update for its Laverton South Gold Project. E79 Gold has 896km2 of prospective ground within its two projects, the Laverton South Project in the world-class Laverton gold district and the Jungar Flats Project in the North Murchison region. Laverton South Project: Pinjin (100%) and Lake Yindana (100%): The Laverton South Project, with an area of 355km2, covers a southern portion of the Laverton Tectonic Zone (`LTZ') approximately 130km east-northeast of Kalgoorlie, within the major gold producing Archean Yilgarn Craton of Western Australia.

Pinjin (E28/2283, E28/2284, E28/2375, E31/0999, E31/1005, E31/1007, E31/1056, E31/1082) E79 100% E79 Gold recently completed 176 holes for 14,350m over Target 3. Drilling was designed to in-fill the Company's previous wide-spaced air-core drilling lines from 320m to 160m, and to extend the target to the south. Assay results from the first 80 holes of the program, which consists only of in-fill drilling, shows thick zones of gold anomalism in anticipated positions. Importantly, a Central Core zone has been identified where a thick zone of anomalous gold persists until the end-of-hole.

This is important as the limitations of air-core drilling is that the rig cannot easily penetrate hard fresh rock, meaning the anomalism may extend at depth. Best results include: 18m @ 0.15 g/t Au from 52m (22LRAC246) (east end of drill line); 8m @ 0.21 g/t Au from 48m (22LRAC256); 19m @ 0.13 g/t Au from 80m (22LRAC264); 12m @ 0.19 g/t Au from 68m (22LRAC268); 5m @ 0.24 g/t Au from 112m (22LRAC268); 20m @ 0.16 g/t Au from 84m (22LRAC269) to end-of-hole; 4m @ 0.54 g/t Au from 88m (22LRAC271); 8m @ 0.42 g/t Au from 76m (22LRAC297); 8m @ 0.28 g/t Au from 100m (22LRAC308) to end-of-hole. Along with end-of-hole multi-element data and spectral data, these new results show that the Central Core target forms a 600m long, 120m wide linear zone and is located along the contacts of granitic and basalt/sediment unit, with evidence of large-scale fluid flow.

The gold anomalism is also associated with pathfinder elements including As, Cu, Zn, Pb and W, which show elevated values along the contact region. The Central Core Target contains thick zones of anomalous gold over four consecutive drill lines, with best results from north to south:20m @ 0.16 g/t Au from 84m (22LRAC269) to end-of-hole; 24m @ 0.20 g/t Au from 80m (22LRAC036) 1 to end-of-hole; 8m @ 0.29 g/t Au from 100m (22LRAC308) to end-of-hole; 5m @ 0.14 g/t Au from 72m (22LRAC015) 2 to end-of-hole. This Central Core also sits in a demagnetised zone on the regional magnetics.

E79 Gold believes that the demagnetism is caused by magnetite destruction mineralising gold fluids, as seen in many large gold deposits in the region such as Sunrise Dam and Victory at St Ives. Deeper RC drilling to test this target will commence later in the year. A second zone to the west also shows thick zones of anomalous gold below the paleochannel.

This target sits within basalt and is located within a larger, 1,600m long zone of gold anomalism identified from earlier E79 and St Barbara air-core drilling. Within this western zone, a 500m long zone of thick gold anomalism has been identified with slightly higher grades than those seen in the central target. This western target sits to the west of a subtle magnetic high.

This target will also be tested by the deeper RC program later in the year. A second air-core program, targeting gold along the eastern side of the intrusion at Target 4 has also been completed with 95 holes drilled for 3,905m. This target sits in the same stratigraphic position as the 8km long historic Pinjin goldfields, which includes the Anglo Saxon and Cole open pits to the south and the historic Patricia high-grade open pits to the north.

Historic drilling had identified a 2.5km long gold anomaly in wide-spaced regional air-core drilling. The Company's recently completed drilling was designed to in-fill and extend this anomalous zone to identify a potentially higher-grade zone within the anomaly. Samples are due to return from the lab in the coming months.