Mindax Ltd. provided an operational update regarding exploration activities at the Mt Forrest Iron Project. The Company, Norton Gold and the Company's (at the time) wholly owned subsidiary Yilgiron Pty Ltd. ("Yilgiron") executed a Subscription Agreement, Shareholders Agreement, Management Agreement and other associated documents on 22 July 2021. The parties formed an incorporated joint venture for the purposes of continuing exploration on and achieving the earning conditions for the Mt Forrest Iron Project where Norton Gold earnt 19.9% joint venture interest in the Mt Forrest iron project by providing funding of AUD 20 million for exploration work.

The final assay results have now been returned for all the drilling programmes. The results received are consistent with those previously reported and continue to provide further confirmation of the continuity and quality of the high-grade mineralisation present at the Mt Forrest project. Additional sampling was conducted on one RC hole, MFC24303, which had been re-entered and extended to test the down dip potential of the two western most BIF units after the hole was originally ended before intersecting them.

These new assays have extended the BIF units to more than 300m below surface. Samples were also taken from three historic diamond holes that had previously been drilled for metallurgical purposes utilising the remaining core that had not already been used for the test work. These new results will assist in improving the geological interpretation and resource estimate for the prospect.

Assay results were returned from a single hole that was drilled at the Paradise Bore prospect, located 1.1km south of the main MF1 mineralisation. Hole MFC22602 was targeted down dip of previously drilled near surface mineralisation to test its continuity at depth, with high grade mineralisation successfully being intersected at depths close to 400m below surface.