Hillgrove Resources Limited provided the following updated Mineral Resource Estimate for the Kavanagh deposit located at Kanmantoo 55kms southeast of Adelaide in South Australia. The resource has been estimated only for the Kavanagh mineralised zones and does not include any update for the Nugent deposit and is reported in accordance with The JORC Code 2012 Edition. This resource estimate update includes the results of the 2021-2022 diamond drilling programme at Kavanagh to 31 March 2022, the results of which were reported on 1 September 2021 and 21 March 2022.

Overall, as with all HGO's previous drill programs at Kavanagh, this drill program has again resulted in an increase in the resources at Kavanagh and a conversion of Inferred Resources to lower risk classification categories. The total mineral resource at Kanmantoo, including Kavanagh and Nugent, is now nearing 70,000 tonnes copper. The next steps for the evaluation of the Kavanagh underground Cu-Au mineralisation are as follows: Complete an updated Economic Assessment based on the 2022 resource estimate, Update the Nugent Mineral Resource Estimate to incorporate recent drilling (24 holes), and Continue drilling to expand the mineral resource for continued mine growth.