Far East Gold Limited (FEG or the Company) provided an update on initial results of the first ever Induced Polarization (IP) geophysics survey undertaken at the Woyla Copper Gold Project. The IP survey works at the Woyla Project are being carried out in collaboration with the Geological Agency of the Indonesian Government's Ministry of Energy and Mineral Resources (ESDM) and have confirmed viable drill targets at both the Anak Perak North Zone and the Anak Perak Main Zone. This is a significant outcome and provides the Company with optionality on where it will choose to commence drilling for the first time in the project's history.

The Company's Woyla Project which is located in the Aceh Province, Indonesia includes three porphyry anomalies and four epithermal gold prospect areas that have a combined defined strike length of over 13,000m. The IP survey works are currently being carried out on the Anak Perak prospect area that comprises a 4,700m strike length epithermal vein system which has returned bonanza grades of up to 119g/t gold and 533g/t silver from rock sample assays. Stage 1 of the IP survey at the Anak Perak North Zone was completed using a Syscal system.

The Geological Agency of ESDM (Badan Geologi) has subsequently resurveyed and reconfirmed these results using the more accurate Zonge system which has been able to identify the occurrence of geophysical anomalies like that of the Anak Perak Main Zone. Initial results of the IP survey completed to date have clearly defined the extent of the Anak Perak Main Zone vein. The IP survey results are consistent with the vein as previously mapped on surface and suggest the presence of a second vein that occurs as an offshoot from the main vein zone.

The results of the IP survey show that both the Anak Perak North Zone and the Anak Perak Main Zone represent robust drill targets as part of the Company's initial diamond drill program to test the resource potential of the Anak Perak epithermal vein system. The Company's application for an Izin Persetujuan Penggunaan Kawasan Hutan (IPPKH) which is a "borrow-use" licence for drilling on forest designated land is progressing to plan and once received will allow FEG to drill the Anak Perak Main Zone. Importantly, the Anak Perak North Zone is located on non- forest designated land and the Company is able to commence drilling in that location without an IPPKH should there be any unforeseen delays in receiving the IPPKH.

The Company recently announced that a drilling contract had been signed with Omega Drilling. In accordance with this agreement, Omega Drilling have mobilised the first drill rig to the Woyla Project's base camp.