Wildcat Resources Limited announced that it has commenced fieldwork at the Mt Adrah Gold Project to refine targets for drill testing in 2022. The work follows a recent review of the extensive data Wildcat has compiled over the project. This includes results of Wildcat's regional geochemical and mapping programs, geophysics, and historical exploration data.

Mt Adrah Gold Project: ­ Hobbs Pipe Targets Hobbs Pipe is an IRGS associated with a sinistral dilational jog to the east of the Nacki Nacki Creek Fault, which is part of the regionally significant Gilmore Suture Zone. Hobbs Pipe has a 2012 JORC compliant resource of 20.5Mt @ 1.1g/t Au for 770Koz of contained Au. The resource is confined to a 200m diameter, vertical monzodiorite intrusion within a package of intensely folded to migmatitic turbiditic sediments which have locally undergone hornfels alteration.

Two high-grade gold-bearing veins named White Deer Reef and Castor Reef occur to the east and have returned a best intercept of 10m at 17.7 g/t Au from 506m (GHD009). The known gold mineralisation in the vicinity of Hobbs Pipe is defined by coincident gold (>50 ppb) and arsenic (>100 ppm) soil geochemical anomalies and an area of intense hornfels alteration. The arsenic halo is over 1km in diameter and surrounds a southeast-trending area of gold anomalism and hornfels alteration which extends asymmetrically from Hobbs Pipe.

Recent reviews of geophysical data at Mt Adrah, in parallel with additional reconnaissance work in the Hobbs area, has highlighted the potential for a larger intrusive complex extending to the southeast which could host more mineralised intrusions and reefs. Drilling by Sovereign Gold in 2014 identified brecciation, monzodiorite and gold mineralisation near the southeastern margin of the hornfels zone in a 42.5m deep diamond drill hole, MAGD0015. Wildcat's geologists traversed the area and identified areas of outcropping hornfels altered metasediments and monzodiorite proximal to MAGD001.

The hornfels metasediment is interpreted as an exoskarn system proximal to a possible larger polyphase intrusive system (indicated by occurrences of granodiorite and monzodiorite). The current phase of field work in the greater Hobbs Pipe area will assist Wildcat to finalise drill targets for drilling in fiscal year 2023 first quarter/second quarter. The primary targets are mineralised intrusions extending under the hornfels alteration to the southeast and possible lateral extensions to Hobbs Pipe to the northwest where mineralisation remains open.

Secondary drill targets are extensions to the high-grade Castor and White Deer Reefs and additional reefs parallel to these that splay-off the jog that hosts Hobbs Pipe. Mt Adrah Gold Project ­ Regional Exploration: To date 5,924 surface samples have been collected by Wildcat at the Mt Adrah Project. The regional sampling program has identified numerous geochemical anomalies and Wildcat continues to evaluate and rank the anomalies to refine targets for further work and potential drill testing.

Wildcat has recently commenced a further program of soil sampling to infill and extend grids over priority soil anomalies (e.g. Upper Springs Creek) and also acquire additional data over newly identified geophysical targets. Soil sampling has also commenced on the EL9063 tenement, which was granted in 2021. Bolt Cutter East Lithium Project: Wildcat continues to await assays from fieldwork and soil sampling completed in March over the Bolt Cutter East lithium soil anomaly6.

The results are expected later this month. Bolt Cutter East is located approximately 34km along trend to the northeast of the Pilgangoora Lithium Project (309mt at 1.14% Li2O and 105ppm Ta2O5) and contains a 14km long lithium and trace element soil anomaly defined by 1,000m x 500m spaced soil samples. The trace element ratios confirm that the anomaly is associated with a fractionated and fertile pegmatite source.

A coherent 8km2 zone containing Li values >50ppm occurs against the basin-forming Pilgangoora Fault within the larger 14km anomaly. Large beryl crystals up to 4cm in diameter occur along a 1.3km long northwest trend through the >50ppm Li anomaly. Wildcat is awaiting assays for 250m spaced infill soil samples over the 14km anomaly and rock chip samples from the 1.3km beryl trend.

Bolt Cutter Project Tenement Update: Due to ongoing objections associated with a railway miscellaneous license preventing the grant of E45/5613, Wildcat has elected to re-peg the E45/5613 blocks via seven new tenement applications: E45/6204, E45/6203, E45/6202, E45/6205, E45/6200, E45/5806, and E45/6201. Wildcat is managing these through a process to progress them to grant, with the tenements not affected by the miscellaneous rail lease expected to grant in Fiscal year 2023 first quarter/second quarter. Widefield Base Metal Project: Exploration licences E09/2526 and E59/2553 in the Murchison region of Western Australia were granted on the 26th of May.

Wildcat will commence field reconnaissance in Fiscal year 2023 first quarter to assess evidence for ultramafic intrusions and the potential for Ni-Cu-PGE mineralisation. Next Steps: Finalise the revised 3D model over the Hobbs Pipe area; Complete additional sampling over priority targets at Mt Adrah; Confirm targets, permitting and logistics for upcoming drilling at Mt Adrah; Receive and evaluate the assay results for the Bolt Cutter Lithium Project; First pass reconnaissance exploration at the Widefield Base Metal Project.