Iceni Gold Limited has 7 key high priority target areas within the 14 Mile Well project area. Iceni is actively exploring the target areas using geophysics, Ultrafine (UFF+) soil sampling, air core (AC) drilling and diamond drilling (DD). The ~600km2 14 Mile Well tenement package is situated on the western shores of Lake Carey, ~ 50km from Laverton WA. Background: Deep Well­ FMW44 The Company has received all assay results from the 132-hole AC drilling program at Deep Well totaling 6,860m surrounding the initial DD program. The DD program was following up gold anomalism identified in historic exploration work and was designed to test down dip and along strike. The DD had previously intersected a sulphide bearing alteration zone adjacent to a significant north trending shear zone and intersected hydrothermally altered alkaline intrusions. The DD did not intersect economic gold mineralisation at these specific locations. New AC Results Received: Significant historic drill results at target FMW44 at Deep Well included: KOW013 with 4m @ 0.66g/t Au, 4m @ 0.14g/t Au & 5m @ 3.32g/t Au; KOW014 with 4m @ 0.16g/t Au, 8m @ 0.25g/t Au & 4m @ 0.55g/t Au Recent AC drilling at target FMW44 identified two significant gold intersections with a similar tenor to the historic results: FMAC0022 with 2m @ 0.14g/t Au from 34-36m; FMAC0077 with 2m @ 0.13g/t Au from 8-10m. All AC drilling assay results have now been received and reviewed by consulting Geochemist Chris Salt from SRK. Those results will now be integrated with the CSIRO UFF Machine Learning (ML) outputs. All AC holes were subjected to a comprehensive bottom of hole interrogation, which included analyses for a broad suite of 64 elements and Short-Wave Infra-Red (SWIR) hyperspectral analysis to identify alteration minerals. A spatial association has been established between the significant gold result in FMAC0022 and white mica, carbonate and biotite alteration minerals interpreted from SWIR analysis. Location of the ~600km² 14 Mile Well Project tenement package, situated on the western shores of Lake Carey, ~ 50km from Laverton in Western Australia. The red trace marks the position of the Celia Fault, a major crustal scale structure that cuts across the Yilgarn Craton. The 14 Mile Well Project is situated on the Celia Fault and its associated splays. There is a strong association between crustal scale structures and major gold deposits. 14 Mile Well Project area, showing the seven key target areas. All Au and multi-element results have been received from drilling at the target FMW44 within the Deep Well target area. Image is Total Magnetic Intensity (TMI) Reduced to Pole (RTP). Multielement geochemistry and hyperspectral SWIR analyses were conducted along the full length of FMDD0008 to understand the geochemical distributions at FMW44. The major element distributions clearly demonstrated the weathering and regolith processes. The ultramafic shear zone at ~360m in FMDD0008 displayed characteristic elevated Ni, Cr and Mg expected of an ultramafic rock. Surrounding the shear zone is an ~25m wide envelope of sodic alteration. This is significant as it demonstrates the nature of this shear zone as a conduit for hydrothermal fluids. Examples of downhole geochemical patterns in FMDD0008 at target FMW44. A sodic alteration envelope is apparent surrounding the ultramafic shear, suggesting the shear zone was a conduit for the alteration fluids. The gold anomalies identified in the AC at target FMW44 further re-inforce the potential for the discovery of gold mineralisation within the 14 Mile Well Project, particularly within structures cross cutting the Deep Well intrusion (targets FMW43 & FMW46) or along its margins (targets FMW40, FMW41 & FMW42). Targeting completed on the Deep Well Target Area by Southern Geoscience Consultants. The image on the left is TMI RTP Magnetics. The image on the right is the interpretation by Southern Geoscience Consultants showing prioritised targets associated with the Deep Well Intrusion. The results of the CSIRO UFF ML analysis across the entire 14 Mile Well Project area have just been received. A review of these results is underway for the remaining targets in the Deep Well area. It is anticipated that these results will assist the Company with prioritising the Deep Well targets and other targets identified within the 14 Mile Well Project tenement package. Follow-up exploration work at Deep Well has been scheduled for Fourth Quarter 2022.