Mt Malcolm Mines NL announced the RC drilling program that commenced in April 2022 will continue. Only a portion of the planned program at the eastern end of the Target Zone was completed during phase 1. Gold anomalism was intersected in the first five holes however the peak 22DBRC0005 result is "at a different structural orientation and a related but different mineralisation style to the historical 070° trending Dumbarton quartz vein basalt hosted lode system". The RC hole intersection occupies a different spatial position, located approximately 150m SE of the northern projected Dumbarton line of lode.

Previously reported M2M results included: 22DBRC004: 6m @ 2.86 g/t Au (36-42m) Including 2m @ 6.50 g/t Au (36-38m). 22DBRC005: 20m @ 1.34 g/t Au (77-97m) Including 7m @ 2.22 g/t Au (77-84m) with 1m @ 3.58 g/t Au (78-79m). The Dumbarton workings are small, producing 210.58 oz from 388t (16.88g/t Au) at the turn of last century (1899-1903).

At Dumbarton significant gold mineralisation identified by M2M occurs at depth (77-97m) as evident in 22DBRC0005. This mineralisation is associated with quartz veining and carbonate alteration in sheared and foliated basalt ± minor sulphides on or near intrusive dolerite contacts. The mineralisation is separate to and not associated with the historical line of lode style.

Along the Dumbarton lode up to three parallel zones of shearing and quartz veining hosted by basalts returned narrow intersections in recent Torian Resources RC drilling (2017). The remaining 15 RC hole phase 2 program for an advance of at least 1,500m is scheduled to commence immediately. Drilling is targeting three areas.

The drill hole patten is spaced on 40m centers around the Dumbarton main shaft zone following the lode trend, the area surrounding 22DBRC005 and on a (50m x 50m) grid at the southern zone, evaluating the southern extension potential, beyond the shallow historical RC drilling conducted by Nova-Polaris Pacific (1988) who intersected near surface gold mineralisation: DRC14: 4m @ 4.74 g/t Au (5-9m) Including 2m @ 8.67 g/t Au (5-7m) & 1m @ 1.1 g/t Au (13-14m). DRC015: 1m @ 1.61 g/t Au (17-18m) & 2m @ 0.53 g/t Au (25-27m) Mt Malcolm Mines NL plan to follow up these intercepts and RC drill test the potential southern strike extensions of the line of lode beyond and around the historical DRC14 and DRC015 results in an area that remains untested and not drilled. The mineralised Dumbarton vein hosted lode system has not been systematically drill tested over its known strike length nor at depth.

Potential northern and southern Dumbarton lode extensions beyond the 400m long mineralised halo remain an untested target zone.