PVW Resources report further positive assay results from its maiden Reverse Circulation (RC) drilling program at the 100%-owned Tanami Heavy Rare Earth and Gold Project in Western Australia. Further significant results have been returned in the latest batch of assays, confirming the potential of the project to host rare earth as well as gold mineralization, which has been confirmed with significant new intersections extending the known gold zone at Watts Rise. At the same time, pXRF analysis of regional air-core drilling has outlined extensive new REE target areas, further strengthening the Company's exploration pipeline in this emerging area.

The 2022 drilling program is now complete with a total of 132 RC holes completed for 10,727m and 357 air-core holes for 16,206m. Importantly, the 4-month program was completed without incident - a credit to the PVW exploration team and the Prospect drill crew. Prospective REE host stratigraphy intersected in regional air-core drilling, with a variable sequence comprising Pargee Sandstone and Killi Killi Formation unconformity, mafic intrusive and altered gneissic granites within the Killi Killi Formation.

There are numerous assays pending with REE results returned for 66 RC holes, all 4m RC composite results returned, and gold and REE results for all air-core holes pending. REE assays will continue to be returned until December 2022, with the first 4m composite air- core results expected in approximately two weeks. 1m re-samples of anomalous 4m composites and air-core REE results are also likely to be returned between late November and January 2023.

The RC drilling has tested highly elevated surface rare earth mineralisation at both the Castella and Watts Rise prospects and has further evaluated the area around historical gold results at Watts Rise.