Podium Minerals Limited announces further assay results from 9 reverse circulation holes completed as part of the Stage 10 exploration drilling programme. Analysis of the intercepts continue to support expansion of the Parks Reef Exploration Target (70 to 75Mt at grade of 1.2 to 1.6g/t 3E PGM)1,2, with intercepts returning results within the targeted range. Stage 10 drilling (targeting 51 holes and extensions to 2 previously drilled holes) was completed on 8 July 2022.

New 3E PGM assay results have been received for 9 additional RC holes, which brings the total holes for assays received to 15. All holes achieved intersections of the reef, emphasising the reefs significant continuity and consistency over its full 15km strike length. The Stage 10 Programme is aimed at proving 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 PGM5 (this is additional to the current 2.8Moz 3E PGM Inferred Mineral Resource Estimate reported to the ASX on 10 February 2022).

All RC samples have been transported to Bureau Veritas (BV) in Perth for initial 3E PGM analysis. Processing of the 15 holes that were successful in drilling diamond core tails to achieve full reef intersections is in progress, with samples to be despatched to BV in Perth. A total of 668.6 metres of diamond core was drilled in the 15 core tails.

Podium continues to experience delays in assay turnaround times at the laboratory. Further drill results are expected to be received throughout July and August this year. All intersections are within fresh (sulphide) rock and selected samples are being re-assayed for 5E PGM and base metals.

DRILLING COMPLETED IN THE CENTRAL OREBODY ZONE (UNDER SECTION 18 APPROVAL) AS FINAL STAGE 9 ASSAYS COMPLETE TESTING OF SHALLOW ORE ZONES Drilling of planned Stage 9 and 10 supplement holes in the central area (under Section 18 approval) was completed in early July. The 9 RC holes were completed for 1,187m under the supervision and support of the Traditional Owners. Two holes required diamond tails (included in the total of 15 holes), which resulted in a total of 89.3m being drilled.

Podium has now completed all planned drilling activities associated with the shallow portion of the orebody and stage 10 exploration drilling (79 completed drill holes, 2 holes were unable to complete due to historic drill collar failures). All future stages planned will be optimised based on these results to focus on growth and infill drilling to enable Podium to consider conversion to an indicated resource.