Lefroy Exploration Limited announced progress on the diamond drill program currently underway at the Burns Au-Cu intrusion-related mineral system, located in the Company's wholly owned Eastern Lefroy Gold Project, 70km southeast of Kalgoorlie. Burns is a new and unique style of intrusion-related, gold (Au)-copper (Cu)-molybdenum (Mo)-silver (Ag) mineral system, hosted by Archean age rocks in the Eastern Goldfields Province (EGP) of Western Australia. The gold, copper, silver (and lesser molybdenum) mineralisation, which is hosted by multiple diorite-porphyry intrusives and high-magnesium basalt, is considered by the Company to be a new and unique style of gold-copper mineralisation.

LEX is aiming to advance the understanding of the scale and genesis of this system through its current, deep, diamond drilling program. Three holes, LEFD006-008, have now been completed, with a fourth hole, LEFD009, currently underway. The original diamond program at Burns, comprised two holes, LEFD006-007 (one of which was EIS co- funded) with all assay results pending.

The diamond rig then commenced LEFD008 at the priority Lovejoy prospect, located 1.5km north of Burns within the `Burns Corridor'. Hole LEFD008 has been completed and step out hole LEFD009 is now underway. Diamond Drill Hole LEFD008 at Lovejoy The Lovejoy prospect is the northernmost magnetic anomaly of a linear trend of discrete magnetic features, extending 2000m northwest from Burns.

Each of the magnetic anomalies was evaluated by RC drill holes in 2021. All the RC holes intersected altered diorite and basalt, similar to that observed at Burns. The strongest alteration in dioritic porphyry was intersected in two RC holes completed at Lovejoy.

These holes, LEFR296 and 297, are located on the western margin of the Lovejoy magnetic anomaly on the edge of Lake Randall. Hole LEFR297 intersected significant intervals of hematite-silica altered breccia and associated Cu-Au- Ag mineralisation. The breccia, with angular basalt clasts in an intense hematite-silica altered matrix including strong fine disseminated magnetite and sulphides, was intersected from 228m to 250m.