Lunnon Metals Limited announce that deep diamond drilling has commenced at the Kenilworth target, part of the Western Australian government's Exploration Incentive Scheme (EIS) programme. The hole has been successfully collared and has a planned depth of 1,450m. The 3km long Jan-East Cooee Corridor contains significant nickel mineralisation (Jan Nickel Mine and newly discovered Baker nickel shoot), a major unresolved geophysical magnetic anomaly and interpreted structural and stratigraphic complexity akin to the multi-million ounce Victory-Leviathan gold complex (Gold Fields Ltd. ­ not on Company's tenements) located just 2km to the north along the same structural trend.

This trend is parallel and proximal to the Boulder-Lefroy Fault Zone. Since the closure of the Jan Nickel Mine in 1986 and until the discovery of Baker nickel shoot by the Company in late 2021, there had been no exploration for nickel along this corridor. Previous gold exploration has been limited to predominantly shallow aircore drilling targeting near surface open pitable gold mineralisation.

All these factors combine to contribute to this corridor being highly prospective for both nickel and gold mineralisation, particularly at depth. The prime objective of this co-funded drill hole is to test and resolve the as yet unexplained 800m long geophysical magnetic anomaly located within and parallel to the Jan-East Cooee Corridor. In doing so, the programme will test for magnetic differentiated dolerite within the structural corridor and is also expected to resolve the unknown depth to the potentially nickeliferous basement contact.

The hole is the first deep diamond hole to be drilled in this portion of the St Ives stratigraphy. An additional diamond rig has been provided by Blue Spec Drilling to ensure that discovery programmes can continue at Warren and Baker while the EIS deep drilling is underway. A further RC rig is being mobilised to Baker to commence drilling once the maiden Mineral Resource is finalised, with this model providing the basis for both infill and extensional targets.

The Company acknowledges the contribution of the Western Australian government's EIS Grant towards the funding of this hole.