The Directors of Prospech Limited to advise that assay results from 36 rock chip samples taken from spoil dumps adjacent to surveyed historical Svatnodusa mine workings in the recently acquired Kolba exploration licence have returned high grade results and, together with the data from an ionic leach soil geochemistry program, have extended the project's exploration potential to over 1.8 kilometres. The Kolba-Svatodusna structure has not been drilled but has been mapped and sampled by the Slovak government geological service in the early 1990s and recent academic studies indicate copper-cobalt-nickel-silver sulphides in primary mineralisation. Mineralised zones are typically several hundred metres long with the most abundant sulphide minerals being chalcopyrite (copper-iron-sulphide mineral) and tetrahedrite (silver-rich copper-antimony-sulfosalt mineral) with common inclusions of gersdorffite (nickel-arsenic-sulphide mineral) and cobaltite (cobalt-arsenic-sulphide mineral).

The Svatodusna historical mining area is located 1.5 kilometres to 1.8 kilometres along strike to the south-west from the Kolba prospect and historical mine workings. Assay results from 36 rock chip samples taken from spoil dumps adjacent to surveyed historical Svatodusna mine workings are reported in full below and are summarised as: The main locus of the high grade mineralisation is postulated to be proximal and parallel to the contact between the footwall granitic unit and the schists and amphibolites. Conversely, government mapping features mineralised structures normal to this contact and Prospech's ionic leach soil geochemistry detects broader zones of anomalism over 150 metres from the contact, within the hosting schists.

In late 2022, two orientation lines of soil sampling the company completed across the Kolba prospect. Sampling of residual soils has been shown to be a useful exploration technique for the Kolba-Svatodusna prospect. Both orientation lines show strong copper, cobalt, silver and nickel anomalies with the stronger values on the line over the old workings.

The footwall granite is associated with low values in the above elements and is in distinct contrast with the strongly anomalous response over the hosting metamorphic units. The results support the contact between the footwall granite and the host metamorphic sequence may be an important control on mineralisation. The anomalies are quite wide, extending for at least 150 metres from the granite contact.

Considering the recent rock chip results and the soil geochemistry, the Kolba-Svatodusna target zone now extends for 1.8 kilometres and is open along strike.