August 2021 Santana Minerals Limited (ASX: SMI) ('Santana' or 'the Company') is pleased to announce further results from the 100% owned Bendigo-Ophir Project where resource extension drilling is currently focusing on RSSZ deposits with existing JORC 2012 Inferred resources of 252Koz.

These new RAS Diamond drill (DD) assay results from MDD009 and MDD010, follow DD assays announced recently (ASX announcement on 15 July 2021).

Commenting on the new DD results Executive Director Dick Keevers said: 'Incomplete assays are released here for diamond drill hole MDD010, as well as pre-assay comments about the presence of visible gold in stockwork mineralisation, recognised in the core logging for diamond drill holes MDD011, 13 and 14, against a backdrop of slow assay reporting from our New Zealand assay laboratory, now even more delayed by a new Covid 19 lockdown. The MDD010 upper zone gold assays confirm the extension of this mineralisation further west of DD009 and north of MRC080, enlarging the footprint of this frequently intersected zone. Full assays will be released as soon as possible.'

Contact:

Tel: +61 7 3221 7501

Web: www.santanaminerals.com

Forward Programme

The Company's immediate priority is to now fast-track drilling of RAS a further 500 metres down plunge to Shepherds Creek before accelerating drilling at RAS and CIT deposits next quarter to upgrade resource status and allow commencement of preliminary feasibility studies. The updating of the 2019 MRE inferred resource calculation is on track for completion in September. Metallurgical column leach test-work on representative samples of drill core from CIT, RAS and Shreks-East (SRE) prospects to test the amenability of fresh sulphide bearing gold mineralisation to recovery by heap leach is currently nearing completion. Results supplemented by mineralogical work are expected to be reported in September.

About Santana Minerals Limited

Bendigo-Ophir Project The Bendigo-Ophir Project is located on the South Island of New Zealand within the Central Otago Goldfields.The Project is located 90 kilometres northwest of Oceana Gold Ltd (OGC) Macraes Gold Mine. The Project contains a JORC Inferred Resource of 252K ounces gold (uncut), an estimate based on drill resultsto 2018 which the Company interprets has the potential to be expanded and developed into a low cost per ounce heap leach operation, with ore from bulk tonnage open pits.

The Bendigo-Ophir resources occur in 4 deposits that are inferred to extend in a northerly direction within the RSSZ which hosts gold mineralization over a recognised strike length of >20km. The RSSZ occurs at the contact with TZ3 and TZ4 schist units separated by a regional fault (Thomsons GorgeFault-TGF) and dips at a low angle (25-degree) to the north-east. The RSSZ is currently interpreted to have upper shear hosted gold mineralization (HWS) 10-40 metres in width above quartz vein and stockwork related gold mineralization extending >120 metres below the HWS which is largely untested down-plunge and at depth. The Company embarked on diamond drilling (DD) and reverse circulation (RC) drilling programmes in November 2020 with the immediate objective to increase the existing resources by drill testing the down plungeextensions of known mineralisation. The Company is focusing on advanced precious metals opportunities in New Zealand and Mexico and with the NZ database updated and resource modelling having commenced an upgrade of the Bendigo-Ophir Mineral Resource Estimate (MRE to 2012 JORC code) is imminent.

Forward Looking Statements

Forward-looking statements in this announcement include, but are not limited to, statements with respect to Santana's plans, strategy, activities, events or developments the Company believes, expects or anticipates will or may occur. By their very nature, forward-looking statements require Santana to make assumptions that maynot materialize or that may not be accurate. Although Santana believes that the expectations reflected in the forward-looking statements in this announcement are reasonable, no assurance can be given that these expectations will prove to have been correct, as actual results and future events could differ materially from those anticipated in the forward-looking statements. Accordingly, viewers are cautioned not to place undue reliance on forward-looking statements. Santana does not undertake to update publicly or to revise any of the included forward-looking statements, except as may be required under applicable securities laws.

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