Greenstone Resources Limited provided an update on exploration activities at Phillips Find where a recent geological review has identified a number of near surface exploration targets within and adjacent to the Phillips Find Mining Centre (PFMC). Subsequently, a 2,250 metre reverse circulation drill campaign has been planned to test 13 high priority targets before mobilising for Mt Thirsty. Phillips Find is located 45km northwest of Coolgardie, Western Australia and includes the PFMC where approximately 33,000 ounces of gold was produced from three openpit operations.

PHILLIPS FIND MINING CENTRE Historically, exploration activities within the Phillips Find Mining Centre have focused on the three historical open pits with very limited drilling in between. Given both the untested strike horizon and the multiple styles of mineralisation observed within the PFMC, there subsequently remains a number of near surface and untested targets. This systematic exploration approach, in conjunction with the existing targets beneath the three historical open pits, will enable the true scale and endowment of the Phillips Find Mining Centre to be effectively tested.

An initial 1,800 metre reverse circulation drill campaign consisting of ten reverse circulation holes has been designed to test for potential mineralised lodes between the existing mines within the PFMC (Figure 1) where more recent intercepts have included1: PFRC097: 5.0m at 11.0g/t Au from 117 metres; PFRC098: 8.0m at 6.3g/t Au from 100 metres; PFRC099: 5.0m at 7.5g/t Au from 70 metres; and PFRC100: 3.0m at 4.0g/t Au from 73 metres. REGIONAL EXPLORATION - TRUTH TREND Outside of the PFMC, there are three main NW-SE sub-parallel structural trends transecting the broader Phillips Find project area, namely Diablo, Truth and Dunns Eight Mile. While all three structures trends remain prospective, the projected convergence of two low grade zones of mineralisation coincident with a geochemical anomaly (Mo-Te-W anomaly with low level Au-As) at Truth remains the most advanced.

Importantly, the projected structural and geochemical convergence zone is also adjacent to a thickened felsic unit. An initial 450 metre reverse circulation drill campaign has been planned for the Truth Trend targeting the projected convergence of two mineralised planes coincident with the peak geochemical soil anomaly.