First Au Limited provided the following update on its Victorian project. The Company has completed its maiden drill program at the Dogwood copper porphyry project and has received assays for rock chips from the Haunted Stream and Snowstorm projects. Highlights: FAU has completed its 2,000m maiden drilling program at the Dogwood porphyry copper and gold project; First batch of samples currently in the labs with assay results pending; Face sampling of underground workings at Haunted Stream has returned assays up to 135 g/t Au; FAU undertaking underground rehabilitation works in preparation of underground drilling at Haunted Stream; New rock chips at Snowstorm have returned assays up to 74.54 g/t Au.

Dogwood Drilling Update: FAU has successfully completed its maiden diamond drilling program at the EL006977 Dogwood Project. Approximately 2000m of diamond core was completed, comprising 14 holes across the project area targeting historical drilling, surface geochemistry signatures, magnetics and IP chargeability and resistivity anomalies. Initial core observations are highly encouraging with geological logging and sampling underway and the first batch of samples dispatched for assaying with results now pending.

The drilling program has highlighted a number of important structural relationships as well as confirmed a number of significant alteration zones extending > 1km across the drilling area. Alteration styles encountered across the Cu-Mo zone displayed a range of `classic' porphyry copper alteration signatures and zonations, while the Au zones displayed a strong association with quartz- carbonate sulphide veined zones. Initial technical observations by FAU's Geologist's from the drilling include: A Porphyritic Intrusion unit hosting both disseminated and veined sulphides was intersected in DGWDDH001 from 88.9m to 110m; Chalcocite, Chalcopyrite, Molybdenum and Arsenopyrite, Pyrrhotite mineral vein assemblages were observed within selective intervals of drill core; The drilling intersected Phyllic, Propylitic and Argillic alteration while also encountering quartz- magnetite veinlets within selective intervals of core along with multiple quartz vein generations.

FAU has undertaken a focused face-sampling and surface sampling program in conjunction with structural mapping across underground development at Haunted Stream to refine its drill targets. In addition, underground rehabilitation is ongoing at the Lone Hand ahead of a planned underground diamond drilling program to test the down plunge potential of the system of reefs across the Ernestine, Lone Hand, Excelsior to Hibernia trend. FAU has determined that undertaking the underground rehabilitation works so that it can drill from underground will give it the best opportunity to hit its priority targets.

Face samples from the Ernestine and Lone Hand underground drives and open pits have yielded gold assays up to 135g/t Au from Screen Fire Assaying. These high-grade face samples are highly encouraging in supporting the pursuit of testing the depth potential of the system down plunge and beyond the historic shallow mining depths (~100m depth). The high-grade gold assays occur in conjunction with mapped reefs on the southern limb of an ~WNW-ESE trending anticlinal axis and are hosted in sub-vertical shear zones that trend ~North-South to NE-SW, at a high-angle to the bedding planes.

Additional face sampling has been undertaken along the development hosting Lone Hand workings within and adjacent the historic stopes. The face sampling of Lone Hand Stope and adjacent walls containing quartz-sulphide mineralisation have yielded assay results up to 19g/t Au. Low-grade gold mineralisation (1-3 g/t Au) occurs across an ~2.5m wide zone of sulphidic quartz zones which contains lenses of elevated gold grades (3-5g/t Au) as well as a significantly elevated gold grade of 19g/t Au.

The locations of samples from Lone Hand are plotted on the survey plan above. The Haunted Stream project continues to demonstrate potential for significant high-grade gold mineralisation, indicated from sampling of historical workings and rock chip sampling. Sampling from a sub-cropping quartz-sulphide reef taken during the previous drill program has returned gold assay results up to 74.54 g/t Au.

Rock chip VR50001 (74.54 g/t Au) was sampled at a site that has not been drill tested and occurs between the currently identified lower and upper zones of the Snowstorm Project. The location of the high-grade sample, occurring between currently identified auriferous reefs, presents a new and critical high-priority target for subsequent exploration.