Greenstone Resources Limited provided an update on the maiden gold pour from the Burbanks Mining Centre as part of the Stage I Trial Mining Agreement Joint Venture (Joint Venture) between Greenstone and FMR Investments Pty Ltd. (FMR). The Burbanks Mining Centre forms part of the Company's 100% owned Burbanks Gold Project, 9.0 kilometres South of Coolgardie, Western Australia. The first processing campaign through the neighbouring Greenfields Mill commenced on Tuesday, 28 December 2021, with 20,500 tonnes of low-grade development ore (diluted ore from underground development drives) processed over nine days, resulting in a maiden gold pour of 840 ounces (unreconciled) worth $2.1 million.

Processed grades through the mill were in line with expectations, with final production from the initial campaign to be reported on completion of a full reconciliation, including Gold in Circuit (GIC) and refining adjustments. The recovered doré bullion has subsequently been shipped to the Perth Mint for refining and sale, with first revenue to the Joint Venture expected over the coming weeks. With high-grade underground ore stoping activities now underway, a further 2-3 processing campaigns are expected, totalling between 60,000-75,000 tonnes over the coming months.

Following the completion of the 1,900 metre Reverse Circulation (RC) drill program at Burbanks South in November, the rig then moved to Burbanks North where it completed seven holes, including two RC and five diamond tails totalling 950 metres, before being demobilised in late December for maintenance. Of the five diamond holes drilled at Burbanks North, assays have only been reported for BBDD0025, which returned 3.1 metres @ 11.72g/t Au from 282.4 metres4, with results for the remaining four holes, targeting extensions of the same high-grade plunge, expected to be received in the next 2-4 weeks.