Monger Gold : Copper & Zinc found in Rock Chip Samples at Mt Monger South

ASX RELEASE

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23 May 2022

More Copper and Zinc found in Rock Chip Samples at Mt Monger South

Highlights:

• Rock-chipsample assay results from the Ben Nevis Prospect at Mt Monger South include:

• 1. Copper assays to a maximum 1,086ppm o Zinc assays to a maximum of 3,742ppm
• A total of 23 anomalous rock chip samples have extended the surface anomaly to 150m long with one anomalous sample located a further 180m west
• The anomaly is now over 230m strike within a broader prospective zone of 5km of continuous strike, with an increase in zinc found towards the west
• This previously under explored area is being interpreted as a potential zone of copper and zinc VMS style mineralisation
• Geochemical sampling program across all tenements is currently underway and is scheduled to be completed in Q2 2022 with samples to utilise CSIRO Ultrafine+ fraction soil technique
• A FLEM geophysics survey is scheduled across the anomaly in June 2022

Monger Gold Limited (ASX: MMG, 'Monger' or the 'Company') is pleased to announce assay results from follow-uprock-chip sampling on tenements P26/4106 and P26/4106 (fig. 1, table 2), located within the 17.7km2 Mt Monger South Project.

This campaign was designed to follow up MMG's 2022 rock chip sampling with anomalous rock chip samples from a gossanous sediment adjacent to a basalt (ASX Release 17 March 2022 - "Copper & Zinc found in Rock Chip Samples at Mt Monger South"). Twenty-four additional samples were taken from the same stratigraphic horizon west along strike, extending the anomaly to over 150m with one additional anomalous sample a further 180 west (fig. 1; table 1). The samples were found to be higher in zinc compare to the eastern samples with 8 samples above 0.1% zinc.

Monger Gold's Non-Executive Chairman, Peretz Schapiro commented, "These rock chip assay results announced today are a testament to us following through on a methodical and systematic exploration approach. These results have justified our plan for a new EM geophysics survey to be completed in June.

We look forward to announcing further exploration results from Mt Monger South".

	Office:	P: [phone]	Directors:	Exploration Manager:
	602/566 St Kilda Road	E: [e-mail]	Peretz Schapiro	Darren Allingham
	Melbourne VIC 3004	W: www.mongergold.com.au	Andrew Graham	Company Secretary:
			Romy Hersham	Ian Pamensky

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Figure 1: Plan of 24 new rock-chip sample locations anomalous in copper and zinc

with a new geological interpretation based on field reconnaissance

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MMG is planning a geochemical soil sampling program in June 2022 and a second stage geological mapping program, focusing on building a structural geological model (specialist structural geologists at Model Earth Pty Ltd) in July. Samples from the geochemical program will utilise the Ultrafine+ fraction soil. A FLEM geophysics program is planned for July (fig 2).

Figure 2: Proposed FLEM survey layout

Mt Monger South Geology

Regionally, the Mt Monger South Project (MSP) tenement package is positioned within the Eastern Goldfields Province of the Achaean Norseman-Wiluna Greenstone Belt. The greenstone belt has been subdivided into a number of geological terranes which are separated by regional scale faults. The NNW trending, east/northeast dipping Mt Monger Fault, located to the south and west of MSP, separates the Kurnalpi Terrane in the east from the Kalgoorlie Terrane to the west. The Mt Monger Shear hosts the Daisy Milano gold mineralisation 5km to the northwest of MSP.

A fault separates the Gindalbie and Bulong Domains within the Kurnalpi Terrane. MSP is in the Bulong Domain which consists of a discontinuous lower basalt then a lower intermediate to felsic volcanic sequence with associated volcanoclastic and conglomerate overlain by thick ultramafic to mafic successions known as the Bulong Complex (Daisy Milano Komatiite, Wombola Dolerite and Mt Monger mafic sills and basalts. Both sequences have been folded into a broad, north-south plunging anticline known as the Bulong Anticline. The MSP is situated in the southern hinge of the anticline.

On the eastern side of the Mirror Shear lithological and structural trends show a marked change to predominantly east-west orientations. The Mt Monger Shear dips southwest into the Mt Monger Fault with bedding and layering dipping in the same direction. Younging is generally towards the south into the Mt Monger Fault.

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There have been seven major periods of VMS formation, typically corresponding to periods of ocean-closing and terrane accretion. In geological time the two oldest of these are in the Mid Achaean (around 3200Mya) and the Late Achaean (2700Mya). The Ben Nevis VMS Prospect coincides with the Late Archean time period (fig. 3).

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Figure 3: Mt Monger South tenements on GSWA 1:100k geological map and stratigraphic

column of the Mt Monger Sequence with Kambalda Sequence equivalents

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About Monger Gold

Monger Gold Limited is a well-structured listed gold exploration company with projects in Western Australia, both 50km SE and 35km west of Kalgoorlie. Through the systematic exploration of its tenements, The Company aims to delineate JORC compliant gold resources, creating value for its shareholders.

This announcement has been approved for release by the Board of the Company.

For Further Information:

Peretz Schapiro - Non-Executive Chairman [e-mail]

Competent Persons Statement

The information in this report/ASX release that relates to Exploration Targets and Exploration Results is based on information either compiled or reviewed by Mr Darren Allingham, who is an employee of Monger Gold Limited. Mr Allingham is a Fellow of the Australian Institute of Geoscientists and has sufficient experience relevant to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Allingham consents to the inclusion in this report/ASX release of the matters based on information in the form and context in which it appears.

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