Navarre Minerals Limited to report further strong gold, silver and copper results returned from ongoing resource definition and exploration drilling within its wholly- owned 850km2 Mt Carlton operation in north Queensland. The latest drill intercepts are from three satellite mineral deposits located within 32 kilometres of the Mt Carlton processing facility: the Mt Carlton United (MCU) deposit; and the BV7 and Delta deposits at Crush Creek. The results continue to reinforce the shallow, high-grade nature of these deposits and to highlight the outstanding prospectivity of the broader Mt Carlton project area in support of Navarre's strategic objective of growing the mineral inventory and extending mine-life.

The MCU results disclosed in this announcement have not been previously reported and cover an additional 58 reverse circulation (RC) holes for 2,361 metres of drilling completed across the project since the previous drilling update announced to the ASX on 12 September 2022. Drilling remains ongoing at MCU in support of open pit mining recently approved by the Queensland Government. The latest results from BV7 and Delta cover an additional 19 diamond core holes and 17 reverse circulation holes for 4,781.8 metres of drilling and represent the final assays for all drilling completed at Crush Creek during this season's program.

The drilling program has involved up to two RC drilling rigs and one diamond core drilling rig, with the aim of infilling and extending the known limits of the gold, silver and copper mineralised systems. MCU is an intermediate sulphidation epithermal gold, silver and copper mineralised system, with the deposit extending in an east-west orientation for over a kilometre (Figure 2). MCU comprises two distinct mineralised zones, MCU West and MCU East separated and offset by a post-mineralisation, NW-striking fault. The style of mineralisation has a similar characteristic to the producing V2 deposit with the mineralisation structurally controlled and hosted in the same rhyodacite volcanic unit.