Navarre Minerals Limited reported outstanding gold and silver results at its wholly-owned Morning Bill prospect within the Glenlyle tenement in western Victoria (EL5497), with the potential for additional broader polymetallic mineralisation. The latest assays come from the first of eight diamond core holes, as well as all 22 holes of air-core (AC) drilling completed at the prospect. The drilling has intersected strongly anomalous gold, silver, copper lead and zinc grades, over a 1,000 metre strike extent and a width of approximately 400 metres. The results from the remaining seven diamond holes are pending and are expected to be released following completion of geological logging, sampling assaying and interpretation. In all, the 5,042 metre drilling program consisted of 2,994 metres across eight diamond core holes ­ one of them a replicated hole - and 2,048 metres across 22 AC holes. The mineralisation occurs beneath a veneer of younger, unmineralised cover known as the Newer Volcanics, ranging in thickness from approximately five to 30 metres. This release covers all assays from the 22 AC holes drilled and the first diamond hole. Situated 25 kilometres south-west of Ararat, the Glenlyle tenement is hosted within the Dryden-Stavely Volcanic Belt. This belt of rocks also hosts Stavely Minerals' Cayley Lode copper discovery at its nearby Thursdays Gossan deposit. Navarre discovered Morning Bill as a greenfields prospect in 2018. Highlight Morning Bill prospect drill intercepts received to date from this round of drilling include: Diamond core assays: 1.9m @ 10.1 g/t gold from 142.6m, including 1m @ 16.5 g/t gold, 216 g/t silver & 2.0% zinc from within a broader interval of 46.8m @ 0.5 g/t gold from 120.5m (GDD001); and 2.5m @ 3.7 g/t gold from 364.9m, including 0.9m @ 9.1 g/t gold (GDD001). AC assays: 76m @ 0.4 g/t gold from 14m to end of hole, including 1m @ 3.9 g/t gold (GAC189); 3m @ 1.9 g/t gold from 45m, including 1m @ 3.5 g/t gold (GAC210); 5m @ 0.9 g/t gold from 73m, including 1m @ 1.6 g/t gold (GAC199); 15m @ 0.3 g/t gold from 70m (GAC202). SILVER: Diamond core assays: 308m @ 3.0 g/t silver from 72.6m, including 1.9m @ 130 g/t silver (GDD001). AC assays: 63m @ 3.5 g/t silver from 47m to end of hole, including 1m @ 61.4 g/t silver (GAC206); 76m @ 2.0 g/t silver from 35m to end of hole, including 6m @ 10.4 g/t silver (GAC204); 60m @ 1.3 g/t silver from 36m to end of hole (GAC197). COPPER: 8m @ 0.1% copper from 53m (GAC194); 1m @ 0.3% copper from 51m (GAC204). LEAD: 22m @ 0.1% lead from 37m (GAC189); 1m @ 0.7% lead from 77m (GAC196); 1m @ 0.7% lead from 143.5m (GDD001). ZINC: 46m @ 0.2% zinc from 44m (GAC189); 20m @ 0.1% zinc from 61m (GAC191); 9m @ 0.3% zinc from 87m (GAC195); 1.9m @ 1.3% zinc from 142.6m (GDD001). The current drilling program expands on four earlier phases of reconnaissance AC drilling on the Glenlyle tenement, which also showed strong gold, silver and base metal mineralisation. Navarre has completed the first ever diamond core drilling of the Morning Bill prospect. The program aimed to gain an appreciation of the rock types hosting the mineralisation, the mineralisation style, alteration patterns, structural information, lithology orientations and to gauge the vertical extent of the mineralisation. Eight holes were drilled, one of them being a substitute hole (GDD002A for GDD002). In all, 2,994 metres were drilled to test 1,000 metres of strike of the Morning Bill prospect. Two of the diamond holes (GDD004 and GDD005) were drilled on the southern end of the prospect as follow-up to broad zones of gold mineralisation detected in AC drill holes GAC 189 (76m @ 0.4 g/t gold from 14m to end of hole) and GAC156 (65m @ 0.3 g/t gold from 16m to end of hole). One hole (GDD003) was drilled into the centre of the prospect, targeting the widest part of a geophysical magnetic low generated from inversion modelling. A further five diamond core holes were drilled in the north of the prospect. These were focussed around or under the strongest silver hits, pervasive alteration and sulphidic veins detected in previous AC drilling. Initial observations from geological logging of the diamond drill core are leading to the identification of: multiple broad zones of pervasive sericite-pyrite alteration associated with intense hydrothermal brecciation. These zones are accompanied by numerous veins of galena (lead), sphalerite (zinc), chalcopyrite (copper), tetrahedrite (silver) and arsenopyrite (commonly associated with gold); and multiple structural trends from the drill core with the most notable structures/veins being orientated east-west (north dip) and north ­ south (steep west to flat east dip). Following recognition of east-west trending mineralised structures, a 22 hole drilling program totalling 2,048 metres of mainly south orientated AC drilling was carried out (previous AC drilling was sub-parallel to this vein trend). This AC drilling intersected discrete gold-silver mineralisation, plus zinc, lead and copper mineralization within a broad envelope of anomalous silver (as seen in the earlier phases of shallow AC drilling). The gold-silver zone is interpreted to have lateral extents of approximately 400 metres (NE-SW) by 1,000 meters (NW-SE), remaining open along strike and at depth. The mineralisation occurs as fine-grained disseminations and as discrete silica and sulphide veinlets, within pervasive sericite-pyrite altered volcanics. The broad silver and gold zone intersected at the Morning Bill coincides with a magnetic low zone, interpreted to represent demagnetising of the volcanic host rocks as a result of pervasive silica-sericite alteration. The broad gold zones detected in GAC156 and GAC189 are located close to a modelled magnetic `pipe-like' feature, with controls to mineralisation unknown at this early stage. The geological logging and interpretation of diamond holes GDD004 and GDD005, completed in the current program, are expected to assist with understanding the controls on the deposition of gold mineralization in this area. The Company expects to improve its understanding of the orientation of the mineralisation and the controlling structures at Morning Bill after logging and interpretation of the diamond program is completed. This understanding will be applied to follow up drilling programs scheduled for later in the year following completion of the annual crop harvest. The Company is developing models for the style and geometry of the mineralisation which is expected to assist with further drill targeting. At this stage, geologists interpret the mineralised broad alteration zones to represent potential epithermal-style mineralisation situated above a deeper porphyry target.