Kingsrose Mining Limited (ASX: KRM) ('Kingsrose' or the 'Company') wishes to provide an update on exploration activities at its 100% owned Porsanger PGE-Copper-Nickel project in Finnmark County, Norway.

The Company has commenced a ground-based fixed loop electromagnetic (FLEM) geophysical survey targeting the Porsvann and Karenhaugen intrusions, completed a resampling program on historical drill core (results are pending) and submitted a drill permit application for the Porsvann target.

Fabian Baker, Kingsrose Managing Director, commented 'Porsanger represents an intriguing exploration area. The broad zones of intrusion-hosted PGE mineralisation discovered in historical drilling, and widespread copper mineralisation in overlying sediments have been known for some time, however we believe the two may be related and that there is potential to discover higher grade massive sulphide-hosted PGE-copper-nickel mineralisation in the area. It is also of interest that recent rock age dating suggests the intrusions formed at the same time as Anglo American's Sakatti massive sulphide deposit to the south in Finland. Operating responsibly and in collaboration with local stakeholders is of the highest importance to Kingsrose, and we are pleased that this cooperation has led to conducting this geophysical survey at a time and in a manner that is respectful of the local environmental and land use. We hope to continue this cooperation and to carry-out a maiden drilling programme later this year or in the spring of 2023, to test targets identified by the ongoing surveys.'

This announcement has been authorised for release to the ASX by Fabian Baker, Managing Director of Kingsrose.

Contact:

Dani McIntosh

Tel: +61 8 9389 4498

Email: info@kingsrosemining.com

About Kingsrose Mining Limited

Kingsrose Mining Limited is a leading ESG-conscious and technically proficient mineral exploration company listed on the ASX. In 2021 the Company commenced a discovery-focused strategy, targeting the acquisition and exploration of Tier-1 mineral deposits, that resulted in the acquisition of the Penikat and Porsanger PGE-Nickel-Copper projects in Finland and Norway respectively. The Company previously operated the Way Linggo mine in Indonesia, having produced over 200koz gold and 1.5MOz silver, and is currently assessing opportunities for the divestment of this project.

Forward-looking statements

This announcement includes forward-looking statements, including forward looking statements relating to the future operation of the Company. These forward-looking statements are based on the Company's expectations and beliefs concerning future events. Forward-looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of the Company, which could cause actual results to differ materially from such statements. The Company makes no undertaking to subsequently update or revise the forward-looking statements made in this announcement to reflect the circumstances or events after the date of this announcement. You are strongly cautioned not to place undue reliance on forward-looking statements, particularly in light of the current economic climate and the significant volatility, uncertainty and disruption caused by COVID19.

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