Flynn Gold Limited provided an update on its diamond drilling program currently being carried out at the Trafalgar Prospect, located within the Company's 100% owned Golden Ridge Project in NE Tasmania . To date, Flynn Gold has completed 5 diamond drill holes at the Trafalgar Prospect (TFDD002/2B, TFDD003, TFDD004, TFDD005/5B, and TFDD006) with the rig currently drilling TFDD007. Drill holes TFDD006 and TFDD007 have been designed to test for continuity of vein zones between TFDD002 and TFDD005/5B.

In addition to previously reported assay results from prioritized sampling, further assays have been received for parts of holes TFDD005B, TFDD002B, TFDD004 and a portion of TFDD006. Drill hole TFDD005B was wedged off parent hole TFDD005 at 91.5m down hole depth and completed at a depth of 384m. First assay results have been received from priority sampling of this hole.

TFDD005B intersected significant quartz veining with zones of sulphides and visible gold from 107.0m to 123.3m down hole, consistent with high-grade gold mineralization intersected over similar depths in TFDD005 (12.3m @ 16.8g/t Au and 27.6g/t Ag from 108.7 - 121.0m). The mineralized zone in TFDD005B recorded a significant intercept of: 14.7m @ 5.52g/t Au and 6.0g/t Ag from 109.4m, including: 1.6m @ 4.95g/t Au and 4.10g/t Ag from 109.4m, and 7.1m @ 10.22g/t Au and 10.84g/t Ag from 117.0m, including: 0.6m @ 109.0g/t Au and 96.1g/t Ag from 121.8m. A further zone of silicification and quartz veining including a visible gold bearing quartz vein breccia zone was observed at a depth of 345.7-348.0m down hole.

This second mineralized zone recorded a significant intercept of: 2.3m @ 19.0g/t Au and 4.5g/t Ag from 345.7m, including: 0.9m @ 47.8g/t Au and 18.7g/t Ag from 346.1m. In addition to the assayed vein zones above, a further two zones of visible gold bearing quartz-sulphide veining have been recognized at 160-161m and 174-176m downhole during core logging in TFDD005B. These zones have been prioritized for sampling and assays.

Hole TFDD002B was drilled as a wedge hole off parent hole TFDD002 in order to provide further testing of mineralized zones intercepted in TFDD002 (5.4m @ 10.63g/t Au from 160.1m, 9.0m @ 2.28g/t Au from 289.0m, and 4.3m @ 4.34g/t Au from 594.7m). New and updated significant mineralized intercepts from TFDD002B include: 11.0m @ 2.44g/t Au and 1.84g/t Ag from 148.0m, including: 5.0m @ 3.42g/t Au and 1.96g/t Ag from 148.0m, and 1.0m @ 9.28g/t Au and 8.14g/t Ag from 158.0m. 0.6m @ 1.99g/t Au and 0.94/t Ag from 178.4m.

3.0m @ 1.87g/t Au and 0.59g/t Ag from 247.0m. 8.5m @ 1.07g/t Au and 7.27g/t Ag from 291.0m, including: 1.0m @ 7.03g/t Au and 5.46g/t Ag from 295.0m. Hole TFDD004 was drilled to test for extensions to mineralization below TFDD003 and TFDD002.

It intersected quartz-sulphide veins at 184-191m, 297-300m and 474-478m. Previously reported assays from prioritized sampling of TFDD004 included 9.7m @ 1.07g/t Au from 89.0m, and 3.85m @ 3.24g/t Au from 186.15m, including 0.4m @ 28.1g/t Au from 187.1m 3. The latest assays received are from sampled interval 451.0m to 503.5m (EOH) and include significant mineralized intercepts: 3.1m @ 1.29g/t Au and 0.49g/t Ag from 474.9m, and 0.5m @ 1.73g/t Au and 1.3g/t Ag from 489.0m depth. TFDD006: Hole TFDD006 was designed as an infill hole to test for continuity of mineralization between holes TDD002 and TFDD005.

First assays have been received from priority sampling of downhole interval 71.0-98.0m, which contained a strongly quartz-mica-fluorite-sulphide greisen altered aplite dyke with disseminated pyrite and arsenopyrite from 75.0-96.0m. Despite containing elevated arsenic values (up to 4,900ppm As), only low-grade gold was returned (maximum 0.13g/t Au) from this zone. Quartz-arsenopyrite veining was observed over a 4m-wide zone from 225-229m in granitic host rock in TFDD006.

This section of core has been prioritized for processing and sampling. TFDD007: Hole TFDD007 is being drilled to test for gold mineralization within the Mathinna sediments between TFDD006 and TFDD005. The hole is in progress to a depth of 192.5 metres with a planned depth of 250 metres.