Red Chris is a joint venture between Newcrest (70%) and Imperial Metals Corporation (30%) and is operated by Newcrest. The Brownfield Exploration program is focused on the discovery of additional zones of higher-grade mineralisation within the Red Chris porphyry corridor, including targets outside of Newcrest's Mineral Resource estimate. During the quarter, there were up to seven diamond drill rigs in operation.

A further 13,854m of drilling has been completed during the quarter from 18 drill holes, with all drill holes intersecting mineralisation. This contributed to a total of 300,154m of drilling from 291 drill holes since Newcrest acquired its interest in the joint venture in August 2019. At East Ridge, located adjacent to the East Zone, drilling is ongoing with 71 holes completed and 5 in progress.

Assays were received from 12 holes during the quarter. The follow up drilling is being completed on a nominal 100m x 100m grid to determine the footprint, characterise the mineralisation and to demonstrate the extent of continuity of the higher-grade mineralisation. Drilling to date has tested a corridor 900m long, 250m wide and to a vertical extent of 1,000m where zones of higher grade mineralisation have been identified.

East Ridge is outside of Newcrest's Mineral Resource estimate. Diamond drilling continues to define the extent and continuity of this higher grade mineralisation. A further 25 diamond drill holes at minimum are planned to test and close out the target mineralisation.

This program is expected to be completed by the second quarter of calendar year 2023. Results for the reporting period include: RC843: 202m @ 0.47g/t Au & 0.64% Cu from 810m; including 78m @ 0.83g/t Au & 1.0% Cu from 864m; including 32m @ 1.2g/t Au & 1.3% Cu from 908m. RC848: 248m @ 0.33g/t Au & 0.46% Cu from 1,320m; including 52m @ 0.84g/t Au & 0.82% Cu from 1,492m; including 34m @ 1.0g/t Au & 0.86% Cu from 1,510m.

RC857: 266m @ 0.43g/t Au & 0.57% Cu from 1,534m; including 56m @ 0.83g/t Au & 1.2% Cu from 1,694m; including 34m @ 1.1g/t Au & 1.6% Cu from 1,706m. Drilling continues to expand the vertical extent of the East Ridge mineralisation. The latest drilling results from holes RC848 and RC857 extend the higher grade mineralisation by a further 100m at depth to more than 700m vertical.

The result from RC857 is the deepest significant higher grade intercept at the project to date. All holes remain open at depth. These results demonstrate further support of the upside range of the Exploration Target defined in the June 2022 Quarterly Exploration Report dated 21 July 2022.

The Exploration Target potential quantity and grade is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. Drilling within the Exploration Target area also continues to define the continuity of the higher grade mineralisation in hole RC843, located 100m west of RC808 (previously reported) and 700m below surface, making it one of the shallowest significant higher grade intercepts at East Ridge. The East Ridge mineralised corridor contains higher grade (>0.8g/t Au and >0.8% Cu) in several smaller pods over an area 700m high, 400m long and 125m wide.

Drilling to test the eastern extent of the mineralised corridor has returned some lower grades and intervals of unmineralised porphyry in several holes including RC851, RC854 and RC855 with follow up in progress. Approximately 35,000m of growth-related drilling targeting mineralisation definition and continuity is planned for the second half of fiscal year 2023 from four drill rigs. The Havieron Project is operated by Newcrest under a Joint Venture Agreement (JVA) with Greatland Gold Plc (Greatland).

Newcrest is the manager and holds a 70% interest in the Havieron Project (Greatland holds a 30% interest). The JVA includes tolling principles reflecting the intention of the parties that, subject to a successful exploration program, Feasibility Study and a positive decision to mine, the resulting joint venture mineralised material will be processed at Telfer. The Havieron Project is centred on a deep magnetic anomaly located 45km east of Telfer in the Paterson Province.

The deposit is overlain by more than 420m of post mineral Permian cover. The Joint Venture commenced drilling during the June 2019 quarter and has completed 288,664m of drilling from 327 drill holes to date (excluding holes in progress, abandoned holes, or drill holes which have not been sampled). Drilling activities in the quarter have produced a further 19,079m of drilling from 22 holes with up to 6 drill rigs operating during the quarter.

This includes 4 infill drillholes within the current Eastern Breccia Inferred Resource which are not included in this report and 6 abandoned holes which failed to reach target depth. New assay results are reported from 12 drill holes (8 were assays pending from the previous quarter). Of the reported holes, 7 holes returned significant assay intercepts in excess of 50 gram metres gold (Au ppm x length m).