Peel Mining Limited announced current phase of diamond drilling at Wirlong completed. More High-Grade Copper Results: High-grade copper intervals returned from recent resource growth drilling include: 16m @ 3.01% Cu, 5g/t Ag from 613m (WLDD060W1). 7m @ 1.51% Cu, 4g/t Ag from 480m (WLDD060W2) and 11m @ 1% Cu, 3g/t Ag from 499m.

o 14m @ 1.16% Cu, 9g/t Ag from 264m (WLDD061) and 48m @ 1.4% Cu, 2g/t Ag from 573m. 17m @ 1.1% Cu, 9g/t Ag from 265m (WLDD061W1) including 4.37m @ 2.47% Cu, 14g/t Ag from 276m. 23.05m @ 2.1% Cu, 8g/t Ag from 267.95m (WLDD063) including 3.83m @ 6.01% Cu, 23g/t Ag from 281.79m.

40.75m @ 1.04% Cu, 4g/t Ag from 266.25m (WLDD063W1) including 10m @ 2.93% Cu, 12g/t Ag from 275m. 8m @ 1.4% Cu, 4g/t Ag from 531m (WLDD064). 3m @ 6.83% Cu, 21g/t Ag from 473m (WLDD064W1).

9m @ 1.09% Cu, 6g/t Ag from 253m (WLDD067). 5m @ 1.46% Cu, 5g/t Ag from 244m (WLDD067W2) and 8m @ 1.69% Cu, 2g/t Ag from 519m. 4.1m @ 2.11% Cu, 10g/t Ag from 214m (WLDD070).

3m @ 3.53% Cu, 15g/t Ag from 366m (WLDD071). Final assays for 16 drillholes pending. Copper mineralisation remains open along strike and down plunge.

Results provide improved geological confidence and understanding. South Cobar Project mineral resource estimate planned upon receipt of final assays. Wirlong Resource Drilling Program: Diamond drilling at Wirlong commenced in April 2022 with 38 drillholes successfully completed for ~20,813m of drilling utilising three drill rigs.

The current phase of drilling was completed in September with assay results now returned for 22 drillholes and pending for a further 16 drillholes. Once all assays have been received these results along with the results from earlier drilling at Mallee Bull will be incorporated into the resource update for the South Cobar Project.