Metal Bank Limited provided an update on exploration at the Stanley prospect, within its Livingstone gold project, in Western Australia (75% MBK). Assays from the 9 reverse circulation (RC) holes at the Stanley prospect and 2 RC holes at the Stella prospect have been received. These holes formed part of the Livingstone Phase 2 drilling program, completed in early September.

Results include: 2m @ 4.34g/t Au from 40m (ST22RC008); 5m @ 2.76g/t Au from 15m (ST22RC009). Stanley prospect, located 2km northeast of the Livingstone North Prospect, represents one of many early-stage Au prospects within the Livingstone Project. The Stanley `trend' is dominated by a 4km long, East-West gold-in soil anomaly with limited drill testing.

Historical drilling at the prospect intercepted shallow gold mineralisation (KLAC105 ­ 1m @ 0.56g/t Au from 12m, 2m @ 0.98 g/t Au from 24m and 1m @ 1.52g/t Au from 36m depth) 1 demonstrating potential. However, these results were never followed up. MBK identified the strike potential in this area and conducted 7 initial test holes which were completed as part of its 2022 Phase 2 drilling program.

Initial results have been received and show a coherent zone of shallow gold mineralisation extending over at least 150m strike length, which remains open to the east and west. Here, as with the Kingsley, Kingsley East and Livingstone North deposits, gold mineralisation is associated with quartz-tourmaline-albite breccias in brittle host rocks. Two RC scout holes were also drilled at the Stella prospect, 2.5km west of Stanley.

SA22RC001 intercepted shallow gold (4m @ 0.67g/t Au). The Stanley ­ Stella trend represents a compelling target zone for future drill testing. Results will be interpreted in the context of MBK's ongoing structural review of mineralisation at Livingstone.

Gold-bearing sites are controlled by competent, brittle lithologies such as quartz veins, quartz pods, and psammite units and brecciated footwalls of possible thrust faults. In addition to Stanley and Stella, the Livingstone project hosts a multitude of gold targets that have limited drill testing including Dampier and Drake along strike to the west of Livingstone North; Hilltop and VHF located in the eastern part of the project; and numerous other unnamed greenfield gold-in- soil anomalies/targets which will be the focus of exploration drilling in 2023. The Livingstone Project is an advanced gold exploration project with ~80,000oz 2 of defined gold resources and multiple exploration targets.

Located 140km northwest of Meekatharra in Western Australia, it includes 395 km2 of granted exploration licences covering the entire western arm of the Proterozoic Bryah-Padbury Basin (host to the Fortnum, Horseshoe and Peak Hill gold deposits and >2Moz Au endowment). The Livingstone Project provides: a JORC 2004 Inferred Resource of 49,900oz Au 3 at the Homestead prospect with potential for expansion; the Kingsley deposit hosting JORC 2012 Inferred Resource of 30,500oz Au 4; the Kingsley Exploration Target of 290 - 400kt at 1.8 -2.0 g/t for 16,800 ­ 25,700oz Au4; the Livingstone North prospect with extensive Au-in soil anomaly, historical mining activities and historical high-grade drilling intersections; multiple advanced gold targets, inadequately tested to date including Hilltop, Stanley, Winja, Winja West, VHF; multi element targets including Kirba (Ni) and Iron Ore (Fe); and over 10 regional greenfields targets identified by independent experts with 40km prospective strike length.