Navarre Minerals : 12/10/2020 – Experienced geologist appointed to run regional exploration

ASX Announcement

12 October 2020

ASX: NML

NAVARRE APPOINTS HIGHLY EXPERIENCED GEOLOGIST TO LEAD

REGIONAL EXPLORATION PROGRAMS

KEY POINTS:

• Harry Horvath joins Navarre's technical team as senior project geologist, with responsibility for expediting the Company's regional exploration programs.
• Mr Horvath has over 30 years' geological experience - including Victorian gold - and has been involved with many mineral discoveries.
• Navarre is aggressively expanding its regional exploration programs, while retaining focus on completing a 10,000 metre diamond drilling program to deliver a maiden mineral resource at Resolution Lode within its flagship Irvine project.

In another major boost to its technical team, Navarre Minerals Limited (ASX: NML) (Navarre or the Company) has appointed highly experienced geologist Harry Horvath to drive the expanded exploration program at the Company's highly prospective Victorian regional prospects (Figure 1).

With a particular expertise in early stage mineral discovery and project generation, Mr Horvath adds to the Company's geological know-how that was recently bolstered by the hiring of Victorian gold specialist, Sarah Cochrane, to oversee the Irvine and Jubilee projects.

To be based in Stawell and reporting to Navarre's exploration manager, Mr Horvath will lead the company's regional exploration programs and associated activities.

Mr Horvath has more than three decades' experience on the Victorian and WA goldfields, including Ballarat and on Stavely Minerals' ground in western Victoria.

In a previous ten-year stint with WA-based exploration services firm Newexco he worked mainly on the Kairos Minerals and Western Areas projects.

Mr Horvath will work closely with Navarre's exploration manager, Shane Mele, on the Company's fully- owned regional exploration properties (Figure 1).

Navarre managing director, Ian Holland, said Mr Horvath's appointment will enhance Navarre's reputation as an "ore finder" in Victoria's Golden Triangle, which historically produced 80 million ounces of the metal and is thought to be hiding more.

He said that, as well as aggressively advancing the regional exploration programs, the Company remained resolutely focused on delivering a maiden mineral resource at the flagship Irvine Project.

"With Harry's appointment we now have several dedicated exploration teams with local knowledge and expertise in Victorian gold, to expedite our mineral exploration plans," he said.

"Harry has come to Navarre recognising the significant opportunities ahead for the Company and we warmly welcome him to the team."

Navarre Minerals Limited | ABN 66 125 140 105 | ASX: NML

40 - 44 Wimmera Street | PO Box 385 | Stawell VIC 3380 Australia

t [phone]

e [e-mail] | w navarre.com.au

N a v a r r e M i n e r a l s L i m i t e d ( N M L ) A S X A n n o u n c e m e n t

P a g e | 2

Mr Horvath holds a Masters degree in Mineral Economics from Curtin University, a science degree majoring in geology from Melbourne's La Trobe University and an honours science degree (geology) from the University of Tasmania.

- ENDS -

This announcement has been approved for release by the Navarre Minerals Limited board

For further information, please visit www.navarre.com.auor contact:

Ian Holland	Colin Naylor
Managing Director	Director & Company Secretary

1. [e-mail]

1. [phone]

Figure 1: Location of Navarre's premier mineral projects in Victoria.

Navarre Minerals Limited | ABN 66 125 140 105

40 - 44 Wimmera Street | PO Box 385 | Stawell VIC 3380 Australia

t [phone]

e [e-mail] | w navarre.com.au

N a v a r r e M i n e r a l s L i m i t e d ( N M L ) A S X A n n o u n c e m e n t

P a g e | 3

Navarre Minerals Limited:

Navarre Minerals Limited (ASX: NML) is an Australian-based gold exploration company focused on discovering large, long-life and high-grade gold deposits in under-explored areas of Victoria's premier gold districts (Figure 1).

Navarre is searching for gold deposits in an extension of a corridor of rocks that host the Stawell (~five million ounce) and Ararat (~one million ounce) goldfields (The Stawell Corridor Gold Project). The discovery of outcropping gold on the margins of the Irvine basalt dome (Resolution and Adventure lodes) and high-grade gold in shallow drilling at Langi Logan are a prime focus for the Company. These projects are located 20km and 40km respectively south of the operating 4Moz Stawell Gold Mine.

The high-gradeTandarra Gold Project is located 50km northwest of Kirkland Lake Gold's world-class Fosterville Gold Mine, and 40km north of the 22 million-ounce Bendigo Goldfield. Exploration at Tandarra, in Joint Venture with Catalyst Metals Limited (Navarre 49%), is targeting the next generation of gold deposits under shallow cover in the region.

The Company is searching for a high-grade gold at its St Arnaud Gold Project. Recent reconnaissance drilling has identified gold mineralisation under shallow cover, up to 5km north from the nearest historical mine workings, which the Company believes may be an extension of the 0.4Moz St Arnaud Goldfield.

At the Jubilee Gold Project, 25km southwest of LionGold's Ballarat Gold Mine, the Company is undertaking a systematic exploration program targeting extensions and repetitions of historically mined transverse quartz reefs that bear similarity to the high-grade Swan - Eagle system at Fosterville.

The Company is also targeting volcanic massive sulphide, epithermal and porphyry copper-gold deposits in the Stavely Arc volcanics. The Project area captures multiple polymetallic targets in three project areas including Glenlyle, Eclipse and Stavely. All properties are currently 100% owned apart from Stavely (EL 5425) which is subject to a farm-in agreement where Stavely Minerals Limited may earn an 80% interest by spending $0.45M over 5 years.

Navarre Minerals Limited | ABN 66 125 140 105

40 - 44 Wimmera Street | PO Box 385 | Stawell VIC 3380 Australia

t [phone]

e [e-mail] | w navarre.com.au