Legacy Minerals Holdings Limited announced the award of a $100,000 co-funded grant for drilling and a $48,000 co-funded grant for geophysics at the Bauloora Epithermal Gold Project in New South Wales. Bauloora Project and NSW Government Grants The Bauloora Project is an underexplored, district scale project centred in felsic volcanics that contain a newly defined large low sulphidation epithermal system which hosts widespread gold and silver bearing veins (~15km2). The Project provides exposure to a potential major Au-Ag discovery.

Targets defined by coherent geophysical, soil and rock chip geochemical anomalies recently identified through LGM's systematic field work were never recognised by previous explorers nor drill tested. The New Frontiers Exploration Program is part of the NSW Government's Critical Minerals and High-Tech Metals Strategy to promote mineral exploration investment in NSW. In mid-2022, the NSW Government announced $1.5 million for round 5 of the program, which has an expanded scope to include exploration geophysics as well as drilling.

Maximum funds available to any individual applicant is $100,000 for drilling programs and $50,000 for geophysical acquisition on a co-funded 50% basis. Drilling Program: Legacy Minerals has received a $100,000 grant from the NSW Government to support a diamond drilling program at the Bauloora Project. The approved drill campaign has been designed to test the Breccia Sinter Prospect.

The Company also recently completed a targeted placement to raise approximately $1.2 million to provide additional funding for the upcoming drill campaign. This drilling will be the first diamond drilling program ever completed at the Breccia Sinter Prospect and will provide significant new information including: the controls and characteristics of gold-silver mineralisation, orientation measurements of structures such as veins, faults and lithological contacts, petrophysical downhole survey and assay data. Geophysics Program: Legacy Minerals has also received a $48,000 grant under the program to support a drone magnetic survey over a 47.5km2 wide area of the Bauloora Project at 50m line spacing.

The geophysics program will extend the data along the vein trends to further scope out the scale of the system and help to identify the structures of the low sulphidation system, enabling more accurate drill targeting and understanding of the system.