Sipa Resources Limited advised that assay results have been received from its recent aircore (AC) drill program at its 100%-owned Warralong project. The program was designed to test a narrow geophysical feature located on the edge of an interpreted structure not previously accessible. Thirty five holes for 1,054m were drilled in the program at 50m centres on 400m spaced lines (Figure 2, Table 1).

Drilling intersected granitic and mafic basement rocks, consistent with the geophysical response . The best results returned were 17ppb Au in drillhole WLAC0246 compared with background levels of 0-3ppb Au, and 80ppm Li in WLAC0302 compared with background levels of 10- 30ppm Li. The low tenor of these results mean they are not considered significant.

Sipa's Warralong project covers more than 1,000km sq. along major structures in a similar geological setting to nearby discoveries including the Hemi gold deposit, but with almost no previous exploration. Sipa has identified multiple additional targets within the Warralong project based on previous work and these targets will be prioritised for drill testing in 2023.