Podium Minerals Limited announced 5E PGM1 results have been received for an additional ten (10) Stage 9 drill holes and the first thirty (30) holes of 5E PGM results for Stage 10 drilling. All 3E PGM2 results have been received for the Stage 10 drilling programme, including the Central Ore Zone. 5E PGM ASSAYS FOR STAGES 9 AND 10 CONFIRM HIGH VALUE RHODIUM AND IRIDIUM: The initial part of Stage 9 drilling was completed in March 2022, with the Central Ore Zone drilling completed in June 2022.

Results for eleven Stage 9 drill holes (PRRC179 to PRRC186 and PRRC198 to PRRC200) have had 5E PGM assays returned, with 9 achieving significant intercepts 1g/t 5E PGM. Table 1 provides details of the significant intercepts and displays some stand-out intercept highlights (Rh 0.1g/t). The remaining 5E PGM assays from 6 holes in Stage 9 (the Central Ore Zones holes) are expected to be received mid- October 2022.

Stage 10 was made up of 53 holes that were a combination of RC-only holes (39 holes) and 14 RC holes with diamond core tails. Three (3) of the 53 holes were drilled in the Central Ore Zone. All 3E PGM results for Stage 10 have been received.

As 3E PGM results were received, pulps were selected for 5E PGM (Rh and Ir) and XRF (base metals) assaying. 5E PGM results for thirty (30) Stage 10 holes have been received that highlight the consistent occurrence, both along the 15km strike length and down to 500m vertical, of an elevated Rh and Ir zone (50ppb) in the lower half of the PGM reef intercept. 5E PGM intersection highlights include: 34m at 1.87g/t 5E PGM (0.07g/t Rh and 0.03g/t Ir) from 76m (PRRC201): including 1m at 14.41g/t 5E PGM (1.24g/t Rh and 0.53g/t Ir) from 109m; 22m at 2.04g/t 5E PGM (0.11g/t Rh and 0.04g/t Ir) from 17m (PRRC198): including 13m at 2.16g/t 5E PGM (0.16g/t Rh and 0.05g/t Ir) from 18m; including 2m at 3.65g/t 5E PGM (0.30g/t Rh and 0.10g/t Ir) from 24m; 13m at 1.95g/t 3E PGM (full 5E PGM intersection pending) from 207m (PRRD208): including 4m at 3.84g/t 5E PGM (0.27g/t Rh and 0.11g/t Ir) from 212m Recent 5E PGM intercepts achieved in Stages 9 and 10 and reported in Table 1 have also tested for chromium (Cr), considered as a deleterious metal in PGM smelters.

Parks Reef has seen maximum values around 0.1% Cr in the oxide and fresh (sulphide) horizons. These values are significantly lower than operating mines in South Africa. 3E PGM RESULTS RECEIVED FOR THE CENTRAL ORE ZONE AND THE DRILL CORE TAILS OF STAGE 10 DEMONSTRATE HIGH GRADE ZONES AND CONSISTENCY OR OREBODY: The approval for exploration access to the Central Ore Zone was announced on 1 June 2022.

Subsequently, nine (9) Central Ore Zone holes (six (6) holes in Stage 9 and three (3) holes in Stage 10) were completed in early July 2022 (ASX announcement 15 July 2022). This was conducted on 200m spaced sections in three lines. Results have now been received for the remaining three (3) of the nine (9) holes (Stage 9 (PRRC264 and PRRD266) and Stage 10 (PRRD263)) and continue to confirm the potential of the area to host some intercepts that have values greater than the average MRE grade.

Central Ore Zone mineralised intercepts 2m thickness (with a maximum of 3m internal waste if carried) include: 18m at 1.69g/t 3E PGM (0.95g/t Pt, 0.72g/t Pd and 0.02g/t Au) from 139m (PRRD263): including 2m at 5.87g/t 3E PGM (3.33g/t Pt, 2.50g/t Pd and 0.05g/t Au) from 144m; and 4.9m at 1.50g/t 3E PGM (0.85g/t Pt, 0.46g/t Pd and 0.20g/t Au) from 194m (PRRD266); and 8.6m at 1.36g/t 3E PGM (0.54g/t Pt, 0.77g/t Pd and 0.04g/t Au) from 201.8m The 3E PGM results for all of the diamond core tails to RC holes have been received. In total, 15 diamond core tails were completed with one extending a Stage 9 Central Ore Zone RC hole, 13 extending Stage 10 RC holes, and one extending an RC hole from a previous programme (PRRD131). 3E PGM stage 10 intersection highlights include: 14m at 2.04g/t 3E PGM (1.15g/t Pt, 0.88g/t Pd and 0.01g/t Au) from 143m (PRRD263): including 2m at 5.87g/t 3E PGM (3.33g/t Pt, 2.49g/t Pd and 0.05g/t Au) from 144m; 13m at 1.95g/t 3E PGM (1.16g/t Pt, 0.77g/t Pd and 0.02g/t Au) from 207m (PRRD208): including 2m at 5.04g/t 3E PGM (3.46g/t Pt, 1.57g/t Pd and 0.02g/t Au) from 212m; 16m at 1.83g/t 3E PGM (0.96g/t Pt, 0.79g/t Pd and 0.08g/t Au) from 169m (PRRD240): including 0.9m at 10.46g/t 3E PGM (6.29g/t Pt, 4.10g/t Pd and 0.07g/t Au) from 184.1m.

The Stage 10 Programme aims to prove 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 PGM3 (this is additional to the current 3.0Moz 5E PGM Inferred MRE reported to the ASX on 2 August 2022). Delivery of the updated MRE incorporating this target is on track to be delivered in October 2022. Selected samples are being re-assayed for 5E PGM and base metals.

5E PGM testing commences following identification of the PGM zone via 3E analyses. Due to the high volumes and laboratory delays, results from 5E assays will continue to be longer than the 3E and gold turnaround times. All 5E PGM are expected by the beginning of October 2022.