Mount Burgess Mining N.L. (ASX: MTB) ('Mount Burgess' or 'the Company') is pleased to advise that it has received additional assay results from recent diamond drilling undertaken at the Company's 100%- owned Nxuu Zn/Pb/Ag/V/Ga/Ge project (the 'Deposit') in Western Ngamiland, Botswana.

HQ Diamond Core Drill Hole Assay Data:

The Company has received and assembled data from assay results received from a further four HQ diamond core holes drilled into the polymetallic Nxuu Deposit. Assays are from an 18-hole diamond drill campaign undertaken between October and December 2021. Each hole was assayed for zinc, lead, silver, gallium, germanium and vanadium. Results from these four holes are encouraging. Each hole was drilled on what was previously believed to be the outer regions of the mid-western perimeter of the deposit. The length of mineralisation intersected in these holes highlights that there is potential for additional mineralisation to occur further west than originally thought. This allows the Company to further expand the known resource base. Mineralisation occurs within a totally oxidised Quartz Wacke below Kalahari sand cover. The Quartz Wacke is located within a shallow barren Dolostone basin. Geological logging of the four holes shows the following intervals of Kalahari sand and mineralised Quartz Wacke as well as depth to barren Dolostone basement.

Within the 139.65m of Quartz Wacke, the four holes combined have mineralised intersections as follows:

47.10m of over 1% Zn mineralisation, amounting to 33.74% of the Quartz Wacke

15.00m of over 1% Pb mineralisation, amounting to 10.74% of the Quartz wacke

26.71m of over 10g/t Ag mineralisation, amounting to 19.13% of the Quartz Wacke

104.39m of over 10g/t Ga mineralisation, amounting to 74.75% of the Quartz Wacke

50.00m of over 3g/t Ge mineralisation, amounting to 35.80% of the Quartz Wacke

56.98m of over 300ppm V mineralisation, amounting to 40.80% of the Quartz Wacke

Overall, 117.43m, (84.1%) of the 139.65m of Quartz Wacke contains mineralisation within the above ranges.

Vanadium/Vanadium Pentoxide

Previous mineralogical test work confirmed that the oxide mineral Descloizite is the host mineral for Vanadium. In Descloizite the grade of Vanadium Pentoxide (V2O5) is 1.785 times the grade of Vanadium.

Drill Hole Tables

Each of Tables 1 - 4, show the intersection depths and lengths in metres (From - To) of the various grades.

Drill Hole Sections

For the purpose of understanding how the results of these four drill holes are associated with results from

neighbouring holes already drilled, the four drill hole numbers are shown in RED on the relevant drill hole cross sections 11A, 12 and 13 (Figures 1, 2, 3 & 4

Contact:

Nigel Forrester

T: (08) 9355 0123

E: mtb@mtburgess.com

Henry Jordan

Chairman and Managing Director

Six Degrees Investor Relations

T: +61 (0) 431 271 538

E: Henry.jordan@sdir.com.au

About Mount Burgess N.L.:

Mount Burgess N.L. (ASX: MTB) is a Perth-based company, focused on the exploration and development of its 100%- owned Kihabe-Nxuu Zn/Pb/Ag/V/Ga/Ge project in Western Ngamiland, Botswana. The Company has been listed on the Australian Securities Exchange since 1985 and has previously discovered the Red October gold deposit in Western Australia and three kimberlites in Namibia

Forward Looking Statement

This report contains forward looking statements in respect of the projects being reported on by the Company. Forward looking statements are based on beliefs, opinions, assessments and estimates based on facts and information available to management and/or professional consultants at the time they are formed or made and are, in the opinion of management and/or consultants, applied as reasonably and responsibly as possible as at the time that they are applied. Any statements in respect of Ore Reserves, Mineral Resources and zones of mineralisation may also be deemed to be forward looking statements in that they contain estimates that the Company believes have been based on reasonable assumptions with respect to the mineralisation that has been found thus far. Exploration targets are conceptual in nature and are formed from projection of the known resource dimensions along strike. The quantity and grade of an exploration target is insufficient to define a Mineral Resource. Forward looking statements are not statements of historical fact, they are based on reasonable projections and calculations, the ultimate results or outcomes of which may differ materially from those described or incorporated in the forward-looking statements. Such differences or changes in circumstances to those described or incorporated in the forward-looking statements may arise as a consequence of the variety of risks, uncertainties and other factors relative to the exploration and mining industry and the particular properties in which the Company has an interest. Such risks, uncertainties and other factors could include but would not necessarily be limited to fluctuations in metals and minerals prices, fluctuations in rates of exchange, changes in government policy and political instability in the countries in which the Company operates.

Forward looking statements:

This document contains forward looking statements which should be reviewed and considered as part of the overall disclosure relative to this report. Disclaimer: Neither MTB nor any of its officers, employees or advisors make any warranty (express or implied) as to the accuracy, reliability and completeness of the information contained in this document. Nothing in this document can be relied upon as a promise, representation or warranty. Proprietary information: This document and the information contained therein is proprietary to MTB

Competent Person's Statements

The information in this report that relates to drilling results at the Nxuu Deposit fairly represents information and supporting documentation approved for release by Giles Rodney Dale FRMIT who is a Fellow of the Australasian Institute of Mining & Metallurgy. Mr Dale is engaged as an independent Geological Consultant to the Company. Mr Dale has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Mineral Resources and Ore Reserves (the JORC Code)'. Mr Dale consents to the inclusion in this report of the drilling results and the supporting information in the form and context as it appears. The information in this report that relates to mineralogical/metallurgical test work results conducted on samples from the Nxuu Deposit fairly represents information and supporting documentation approved for release by Mr R Brougham (FAusIMM). Mr Brougham, non-executive Director of the Company, is a qualified person and has sufficient experience relevant to the process recovery under consideration and to the laboratory activity to which he has undertaken to qualify as a Competent Person as defined in the 2012 Edition 'Australasian Code for Reporting of Mineral Resources and Ore Reserves (the JORC Code)'. Mr Brougham consents to the inclusion in the report of the matters, based on the information in the form and context in which it appears.

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