Kingwest Resources Limited announce high grade results from the recent RC infill drilling campaigns at the Stirling and Pericles Deposits within the Menzies Gold Project. Forty RC holes (KWR307 ­ 345) totaling 2,094 metres have been drilled with the initial programme targeting areas of high grade mineralisation now complete. The Pericles and Stirling deposits with its near surface high grades, reflect the unique potential of the Menzies project and are expected to be a key component of the project's future development. Several deeper holes are planned for First Quarter 2023. Assays have been received for holes KWR307 ­ 335 with the balance expected in the coming weeks. This recent infill drilling programme was largely designed to improve confidence in the grade and mineralisation continuity within possible pit outlines and to target high grade extensions. The holes were planned during updated resource estimation work for both Stirling and Pericles which were being completed as the drilling commenced in November. The resource estimation work has also highlighted the opportunities for high grade extensions that have not been fully tested in this current drilling campaign. Kingwest intends to complete another drill program in First Quarter 2023. Kingwest has now received the results of the updated resources estimates and intends to incorporate the recent high grade drill results into an update resource after further First Quarter 2023 drilling has been completed. The Pericles deposit is part of the northern extension of the Lady Shenton mineralised trend and is only 100m north of Lady Shenton open pit. Mineralisation is identified in two parallel lodes over a strike of 700m and drill tested to 225m. Two high grade domains, internal to the main mineralised lode have been defined with the high grade displaying a moderate to steep plunge to the south. Mineralisation consists of multiple sub parallel gold mineralised shear/fracture zones either within a sequence of metamorphosed mafic amphibolites or at the contact between mafic amphibolite and ultramafic or metamorphosed sediments and is associated with strong chlorite and biotite alteration. Mineralisation remains open at depth and further exploration is warranted to test this potential. This Mineral Resource update builds confidence in the geological model which is showing good continuity of the high grade mineralisation near surface. The Stirling deposit is located 1km to the south east of Lady Shenton with mineralisation confined to a single lode over a strike length of 550m which has been define to a depth of 125m below surface. A single high grade domain, internal to the main mineralised lode has been defined with the high grade displaying a moderate to steep plunge to the south. Mineralisation remains open at depth and further exploration is warranted to test this potential. This Mineral Resource update builds confidence in the geological model which is showing good continuity of
the high grade mineralisation near surface.