Tyranna Resources : Eureka Drilling Intersects 5m at 25.6 grams per tonne Au

7 March 2019

Drilling intersects 5m @ 25.6 g/t Au at Eureka

Highlights

•  Highest ever intersection at Eureka mine of 1m @ 89.7 g/t Au (19ERC12)

•  Best intersections include:

  • o 5m @ 25.6 g/t Au from 33m inc' 1m @ 89.7 g/t Au from 34m (19ERC12)

  • o 7m @ 3.0 g/t Au from 39m (19ERC04)

  • o 12m @ 2.6 g/t Au from 20m inc' 1m @ 15.8 g/t Au from 26m (19ERC17)

  • o 5m @ 3.7 g/t Au from 23m inc' 1m @ 13.5 g/t Au from 24m (19ERC18)

  • o 9m @ 2.5 g/t Au from 12m (19ERC20)

Tyranna Resources Limited (ASX: TYX) ('Tyranna' or 'the Company'), is pleased to announce that exciting assays have been received from the in-pit Reverse Circulation (RC) drilling conducted in February at the Company's 100% owned Eureka Gold Project located 50km north of the gold mining centre of Kalgoorlie, Western Australia.

Among the results received, of particular note, was hole 19ERC12 returning the highest ever grade intersected in the history of the Eureka mine at 1m at 89.7 g/t Au (with the repeat assay of 1m at 117.3 g/t Au). This hole also ended in mineralisation with the end of hole (EOH) grade of 1m @ 6.7 g/t Au. This indicates that the mineralisation remains open and is clearly demonstrated in Figure 3 (Eureka Section Looking North).

This program had a total of 23 holes drilled inside the potential production area and 35% of the holes returned an average intercept of 7 metres greater than 2 g/t Au. Also encouraging was the fact that 4 of these holes ended in mineralisation which will require follow up drilling in the near future.

Managing Director of Tyranna Resources, Mr Bruno Seneque commented,

"The drilling program has no doubt increased our geological confidence in the Eureka mineralisation. We are particularly pleased with the spectacular grades intersected in multiple holes. The drilling results have given the Company the confidence to push on with the objective of monetising our asset and unlocking the extensional and exploration potential on our Eureka mining leases."

Level 2, 679 Murray Street, WEST PERTH WA 6005 | PO Box 1124, WEST PERTH WA 6872

T [phone] | F [phone] | [e-mail]| W tyrannaresources.com

ASX TYX | ABN 79 124 990 405

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Figure 1: Plan view showing location of in-pit RC drill holes

The drilling program has delivered very encouraging results, confirming the continuity and grade of the mineralisation directly below the open pit floor (refer Figure 2 & 3). As previously announced (refer ASX Announcement 19 February 2019) the aim of the in-pit drilling program was to target areas for potential mining in the north wall, south wall and within the open pit. The RC drilling program comprised of 945 metres for 30 holes which included, 3 holes in the northern ramp and 4 holes drilled into the nearby mineralised waste dump. Figures 2 and 3 illustrate the mineralised structure beneath the existing pit. The drilling had to penetrate a previously backfilled part of the pit in order to access the remaining mineralisation. These additional assay results will now be included within an updated resource model for Eureka.

Level 2, 679 Murray Street, WEST PERTH WA 6005 | PO Box 1124, WEST PERTH WA 6872

T [phone] | F [phone] | [e-mail]| W tyrannaresources.com

ASX TYX | ABN 79 124 990 405

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Figure 2: Cross section 1 through Eureka pit (see fig 1 for location)

Figure 3: Cross section 2 through Eureka pit (see fig 1 for location)

Level 2, 679 Murray Street, WEST PERTH WA 6005 | PO Box 1124, WEST PERTH WA 6872

T [phone] | F [phone] | [e-mail]| W tyrannaresources.com

ASX TYX | ABN 79 124 990 405

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Table 1. Significant Intersections > 1.0 g/t Au

East	North	RL	Dip	Azimuth	Depth	From	To	Width	Grade	Comments
19ERC01	332541	6643802	392	-61	266	46	4	7	3	1.24
19ERC02	332524	6643805	395	-60	266	35	25	26	1	1.75
19ERC03	332507	6643805	398	-58	266	34	NSR
19ERC04	332538	6643588	350	-67	270	53	39	46	7	3.03	backfill to 22m
19ERC05	332525	6643660	323	-90	0	33	27	30	3	0.62
19ERC06	332517	6643653	328	-90	0	27	failed to reach depth				backfill to 6m
19ERC07	332515	6643657	324	-63	288	29	NSR	backfill to 4m
19ERC08	332518	6643660	323	-90	0	30	19	25	6	2.52	backfill to 5m
19ERC09	332515	6643649	326	-65	270	23	16	21	5	2.06	backfill to 10m
19ERC10	332520	6643647	326	-73	255	20	NSR	backfill to 3m
19ERC11	332528	6643647	326	-90	0	33	NSR	backfill to 3m
19ERC12	332528	6643652	327	-90	0	38	33	38	5	25.62	backfill to 11m
19ERC13	332526	6643564	345	-60	270	20	failed to reach depth				backfill to 2m
19ERC14	332526	6643563	346	-57	236	44	36	44	8	2.38
19ERC15	332515	6643564	344	-60	270	9	failed to reach depth
19ERC16	332503	6643564	342	-60	270	25	7	16	9	1.27
19ERC17	332516	6643563	344	-54	232	34	20	32	12	2.63
19ERC18	332517	6643569	343	-60	270	29	23	28	5	3.74
19ERC19	332504	6643563	343	-49	225	28	11	22	11	0.96
19ERC20	332504	6643569	341	-60	270	21	12	21	9	2.46	backfill to 4m
19ERC21	332529	6643572	346	-60	270	39	34	36	2	1.32	backfill to 27m
19ERC22	332523	6643600	350	-61	270	43	36	39	3	1.39	backfill to 27m
19ERC23	332542	6643605	351	-73	270	48	46	48	2	1.76	backfill to 10m
19ERC24	332532	6643594	350	-64	270	45	NSR	backfill to 27m
19ERC25	332521	6643594	350	-61	270	40	NSR	backfill to 36m
19ERC26	332538	6643580	351	-62	270	48	36	47	11	1.97	backfill to 27m

Level 2, 679 Murray Street, WEST PERTH WA 6005 | PO Box 1124, WEST PERTH WA 6872

T [phone] | F [phone] | [e-mail]| W tyrannaresources.com

ASX TYX | ABN 79 124 990 405

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Figure 4: Eureka Project Location
Bruno Seneque,
Managing Director	Investor Relations
P: [phone]	P: [phone]
[e-mail]

Peter Taylor

Competent person statement: The information in this announcement that relates to Exploration Results is based on information compiled by Nicholas Revell, who is a Member of The Australian Institute of Geoscience and who has more than five years' experience in the field of activity being reported on. Mr. Revell is the Technical Director of the Company.

Mr. Revell has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr. Revell consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Level 2, 679 Murray Street, WEST PERTH WA 6005 | PO Box 1124, WEST PERTH WA 6872

T [phone] | F [phone] | [e-mail]| W tyrannaresources.com

ASX TYX | ABN 79 124 990 405

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