Podium Minerals Limited announced 5E PGM1 results have been received for all outstanding drill holes, including the Central Ore Zone and the diamond core tailed holes. Highlights: 5E PGM results have been received for the final Stage 9 and Stage 10 assays, from a total twenty-eight (28) drill holes; 5E PGM intersection highlights include: 19m at 2.48g/t 5E PGM (0.18g/t Rh and 0.07g/t Ir) from 76m (PRRC262) including 2m at 12.90g/t 5E PGM (1.03g/t Rh and 0.39g/t Ir) from 88m; 31m at 1.35g/t 5E PGM (0.06g/t Rh and 0.02g/t Ir) from 189m (PRRD208) including 2m at 5.60g/t 5E PGM (0.40g/t Rh and 0.16g/t Ir) from 212m; 16m at 1.88g/t 5E PGM (0.04g/t Rh and 0.01g/t Ir) from 169m (PRRD240) including 0.9m at 10.88g/t 5E PGM (0.30g/t Rh and 0.13g/t Ir) from 184m. All drill holes that intersect the full reef width consistently show high rhodium (Rh) and iridium (Ir) values within the PGM reef intercept confirming presence along the full 15km strike.

These results will inform the intended Mineral Resource Estimate (MRE) update due in October that is now in final stages of compilation. Stage 9 drilling was completed in March 2022, with the Central Ore Zone drilling completed in June 2022 and the final Stage 10 drill hole diamond tails completed in early July 2022. All outstanding holes in Stage 9 and Stage 10 have had their 5E PGM assays returned, with 9 achieving significant intercepts 0.1g/t Rh.

The Stage 10 Programme aimed to further define the enlarged Exploration Target of 70Mt to 75Mt at 1.2 g/t to 1.6 g/t 3E PGM for 2.7Moz to 3.8Moz 3E PGM2. Delivery of the updated MRE incorporating this target is on track to be delivered in October 2022.