Santana Minerals Limited (ASX: SMI) ('Santana' or 'the Company') is pleased to announce preliminary metallurgical test-work is to commence on sulphide ore from three prospects, Come-in-Time (CIT), Rise and Shine (RAS) and Shreks East (SRE) within the 100% owned Bendigo-Ophir Project ('the Project').

This test-work, at ALS Metallurgy Laboratory in Perth WA, designed and to be supervised by Kappes, Cassiday and Associates Australia (KCAA) has been advanced as a consequence of continuing positive results from the current drilling programme and is important for early development of the Project.

Commenting on the commencement of metallurgical test-work Executive Director Dick Keevers said: 'Our current diamond core and RC drilling have provided substantial indication of the extension of the gold mineral resources at Bendigo - Ophir, to the level that we are pleased to recommence metallurgical test work, building on the successful testing completed by Matakanui Gold in 2018. Our plan now is to concentrate on testing the amenability of our sulphide bearing gold mineralisation to heap leach gold recovery, using drill core from the first 3 diamond drill holes recently completed. It is already clear that more than 90% of the gold resources will be contained within the fresh sulphide zone, which will be formally defined when our current resources update study is completed.'

Resource Extension Drilling & Diamond Drilling (DD) Sulphide Ore Intercepts

In November 2020, the Company embarked on a 4,500-metre resource extension drilling programme of reverse circulation (RC) and DD holes targeting down-plunge mineralization from existing 252Koz JORC inferred resources (ASX announcement on 3rd November 2020).

The first three DD holes (MDD001-MDD003) at CIT, RAS and SRE prospects which span 4km of RSSZ strike, intersected significant gold mineralization in shallow sulphide ore from 62-65 metres below collar (ASX announcement on 23rd March 2021).

Contact:

Richard Keevers

Tel: +61 408 873 353

Email: rkeevers@westnet.com.au

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), estimate based on drill results to 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 3 deposits that are inferred to extend in a northerly direction within the RSSZ and the Company embarked on diamond drilling (DD) and reverse circulation (RC) drilling programmes in November 2020. The immediate objective is to increase the existing resources by drill testing the down plunge extensions of known mineralisation. The Company is focusing on advanced precious metals opportunities in NZ and Mexico and a database update with resource modelling has commenced with a view to progressively upgrade the Bendigo-Ophir JORC resources for a new estimate by mid-year.

Forward Looking Statements

Forward-looking statements in this announcement include, but are not limited to, statements with respect to Santana's future 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 may not 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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