Koonenberry Gold Limited announced that it has completed its Reverse Circulation (RC) drilling program at the Lucky Sevens high grade gold Prospect. The 11 hole, 2,258 m RC drilling program was the largest ever conducted at the Koonenberry Project, and targeted a 400m part of the 4km long gold in soil anomaly at Lucky Sevens. While 3,250m had been planned, significant "lifting" of the holes achieved horizontal coverage between drill collars at shorter downhole lengths.

Additionally, 2 of the 13 holes planned were deferred, given the majority of program objectives had been achieved when a significant rain event was forecast. The geology observed is of a typical turbidite sequence of siltstones, greywackes and sandstones, which have been metamorphosed to greenschist facies and are therefore locally referred to as pelite, psammite and quartzite respectively. Quartz veins are generally observed on or near the contact between the grain-supported quartzite and matrix-supported psammite and/or fine-grained pelite.

In the absence of structural data (drill core) the quartz veins have been interpreted to have a moderate dip towards the east. They tend to have a milky white colour. Alteration consists of silica-sericite and likely chlorite which are observed to increase in intensity closer to the quartz veins.

Sulfides are observed as very fine-grained disseminations of pyrite and possible minor arsenopyrite which generally increase in abundance closer to the quartz veins. The Base of Complete Oxidation (BOCO), Base of Partial Oxidation (BOPO) and Base of Fracture Oxidation (BOFO) are observed to increase slightly in the centre of the A ­ A" section, which is indicative of increased weathering along a structure/s and oxidation of sulfides. Given the proximity of the quartz veining and coincidence of alteration and sulfide mineralisation, this structure/s is likely to have been a conduit for hydrothermal fluids.

Koonenberry Gold has completed RC drilling of targets at the Lucky Sevens Prospect. The Prospect is defined by a 4km long x 450m wide gold soil geochemical anomaly (+5ppb, max 1,400ppb Au). The soil anomaly appears to have a sigmoidal shape which is reflected in mapped vein development at outcrop scale.

The Lucky Sevens Prospect has seen limited drilling, with the dilational "fat" or "eye" part of the soil anomaly having seen no bedrock drilling. Historically, costean SBC0501 located at the northern "tail" returned 0.25m at 20.67g/t Au, whist RAB hole KYRB032 located at the southern "tail" returned 5.0m at 25.1g/t Au from 0m. These historical intercepts demonstrate the high-grade potential of the mineralised structures.

A single drill hole at the 17 Black Prospect (northern "tail" of Lucky Sevens), was targeted underneath the SBC0501 costean result which had returned 0.25m at 20.67g/t Au. Samples are to be submitted to the laboratory for analysis with assays anticipated later in the quarter. Following the receipt of assay data additional RC and/or Diamond drilling will be planned at the Lucky Sevens Prospect.

In addition, preparations for 12,000m of Aircore drilling at the Atlantis, Vegas and Four Queens Prospects is advanced. Highly anomalous gold in soil results have defined drill targets over significant strike lengths at these Prospects. Multi-element geochemical data as well as available geophysical data is being used to provide additional support to assist with drill targeting.