Javelin Minerals Limited announced that following the completion of a twelve month, four phase RC drill program totalling 135 holes for 19,136 metres, a MRE has been completed by independent consultants Cube Consulting Pty Ltd. ("Cube Consulting") for the Company's 100% owned Coogee Project located near Kalgoorlie in Western Australia. Cube Consulting completed a geological and mineralised zone interpretation via standard industry procedures, including data selection, compositing, variography, estimation by Ordinary Kriging and model validation. Historical MRE investigations were only carried out for gold (Au), however, the July 2022 MRE also included domain interpretation and estimation for copper (Cu).

A 3D block model for the Coogee deposit was produced that is suitable to define the global and local Au and Cu mineralisation. Assessment of reasonable prospects for eventual economic extraction has also been undertaken by Cube Consulting, using pit optimisation methods to define a pit shell to assist in setting limits of the model for resource delineation. This update represents a 1,400% increase in tonnage and a 350% increase in overall contained metal from the previous estimate announced by Ramelius Resources on 3 September 2014.

Whilst the new MRE increase can be partially attributed to a lower cutoff grade for reporting, the increase is also the result of significant resource extensions from four phases of Javelin RC drill programs as well as a thorough inhouse geological interpretation which has highlighted more prospective areas of gold mineralisation. Coogee is located approximately 55km southeast of Kalgoorlie on the northeastern shore of Lake Lefroy and comprises four tenements (Mining Lease M26/477, Exploration Lease E26/177 and Miscellaneous Licenses L26/264 and L26/265) that cover an area of approximately 17km2. The project's location near the major mining centre of Kalgoorlie in Western Australia provides ready access to both significant exploration and mining support services and a skilled workforce.

Coogee lies within the Kalgoorlie Terrane in the southern part of the Eastern Goldfields Province of the Archaean Yilgarn Craton. It falls within the northern confines of the Parker Domain, which is bounded in the east and west respectively by two major regional north trending structures, the Mount Monger and Lefroy Faults. The structural trend is northwest.

The weathering profile is a truncated laterite profile where upper saprolite is overlain by up to 15m of Cainozoic transported cover of sand and coarse gravel. Gold mineralisation at Coogee occurs within a sheared intermediate feldspar porphyry (possibly thrusted), which strikes NNW ­ SSE and dips to the west at about 25 degrees. High grade gold mineralisation appears to be hosted in shoots on this thrust plane which plunges at what appears to be shallow angles.

The shear varies between 2m and 8m in thickness and is confined to a number of highgrade shoots, which have a plunge towards the south. Gold mineralisation extends along strike for 1 km, and greater than 200 m vertically below the topographic surface. Mineralisation is open at depth and along strike.

Javelin have been successful in outlining mineralisation which transitions from gold to coppergold to the north within a broader coppergold system at Coogee which now has strike length of over 1 km. High grade gold mineralisation has been observed to be associated with coarse grained pyrite (15mm grains). The grains of pyrite generally form in clusters proximal to strong magnetite­chlorite alteration which is the highestgrade alteration that is associated with the gold mineralisation.

More distal alteration is made up of hematite­chlorite assemblage, with or without sericite, the broader alteration pattern comprises epidote within a medium to coarse grained dacite and finer grained andesite/rhyolite rock types. The style of gold mineralisation is thought to represent a skarnlike assemblage. Higher grade Cu mineralisation (up to 2m @ 8.34% Cu from 156m in CORC141) is hosted in basalt and intermediate porphyry (diorite) lithologies (see JAV, ASX Release 28 February 2022, Highgrade copper and wide goldcopper intersections at Coogee).

It is associated with an intense chalcopyritepyritemagnetite phlogopite assemblage. The copper mineralisation is best developed in the area north of the Coogee pit and it can occur with varying grades of Au mineralization. Au mineralisation within the Coogee pit itself and area to the south do not display any association with copper as observed to the north.

Significant gold and copper supergene mineralisation occurs in the weathered profile above the shallow dipping primary mineralisation. Ramelius Resources Limited mined an open cut pit (approximately 70 m deep) at Coogee in 2013, with reported production of 147,400 tonnes at 4.7 g/t Au for a recovered 20,400 ounces of gold. Processing was at the Burbanks mill, south of Coolgardie with metallurgical recovery of 96.4%.

Cube Consulting generated two Au mineralisation domains (supergene and primary) in Leapfrog software based on a gold cutoff grade of 0.2 ppm. There is a subtle jog in the logprobability plot for all the Au data at just above 0.2 ppm Au, with a very linear distribution above 0.2 ppm. The orientation and continuity of these domains was based on the sectional interpretations provided by Javelin, which were consistent with the geological descriptions provided.

The supergene and primary mineralisation domain were split at the 10 m transition zone between the base of weathered and fresh lithological profile. The Au domains were developed using the Intrusive geological model in Leapfrog software, with economic compositing at the 0.2 ppm Au threshold. The highgrade copper is not always coincident with the Au mineralisation, and in many instances the Cu intercepts are well outside the Au domains.

Therefore, supergene and primary Cu domains were modelled in Leapfrog, separate to the Au domains. The Cu domains appeared to be more discrete than the Au domains and were therefore generated using the Vein modelling method in Leapfrog. The veins were based on a 1000 ppm Cu threshold, with economic compositing again used to define the vein intercepts and widths.