Yandal Resources Ltd. announced that ongoing target generation work - including geological and geophysical reviews - has identified several high-priority targets for testing across the Mt McClure, Barwidgee and Ironstone Well projects, all located within the highly mineralised Yandal Belt in Western Australia. Each target represents an excellent opportunity to discover significant new gold mineralisation at prospects close to existing mines and haulage infrastructure. An initial aircore program comprising approximately 110 holes for 8,000m is scheduled to commence on 15th February 2023 and is expected to take approximately three weeks to complete. Prospects returning positive results will be earmarked for detailed follow-up drill testing in the coming quarters. The Mt McClure Project is located 15km south-west of the historic Bronzewing gold mine and 10km from Orelia gold mine both owned by Northern Star Resources Ltd. in the southern Yandal Belt. The greater Mt McClure gold camp, which covers a strike length of some 30km and includes Northern Star's Orelia mine has a total gold endowment of +1.8Moz gold. Yandal's Mt McClure Project covers a total strike length of 17km of prospective stratigraphy. It includes several historical open cut pits from which a total of approximately 100,000z of gold was mined to maximum depths of between 60 to 100m mostly in the early 1990's at a time when the gold price was much lower than at present. In the September 2022 Quarter, the Company announced Initial Mineral Resource Estimates totalling 2.25Mt @ 1.9g/t Au for 136,000oz beneath the Success, Parmelia and Challenger historic open pits and one satellite deposit. Most exploration within Yandal's tenure including the Company's recent Phase 1 MRE expansion drilling has focussed on the main line of mineralisation hosting the previously mentioned deposits with little effective exploration in the hanging wall and footwall stratigraphy. Elsewhere in the belt, including the major Orelia deposit, mineralisation occurs higher up in the "hanging wall" stratigraphy which in Yandal's tenure has only been subject to limited historic exploration. The deposits at Mt McClure are often spatially associated with north-west and/or south-west trending "D4" cross faults. The majority of targets in the current program are situated in the poorly explored hanging wall, east of the main line of mineralisation, on or adjacent to the north-east trending faults, with preference given to locations proximal to cross-cutting (conjugate) faults and/or areas exhibiting demagnetisation, potentially representing alteration associated with mineralisation. One target MMCAC4 comprises an area of previously undrilled soil geochemical anomalism extending over 300m x 300m on the northern margin of a granitic intrusive coincident with a structural intersection. This same intrusive is host to significant mineralisation at the "Anomaly 45" prospect, immediately to the east of Yandal's tenure. The current program at Mt McClure comprises approximately 60 holes (4,000m) testing 11 target areas. Targets returning positive results from this initial test will be assessed by more detailed aircore and/or RC drilling planned for the coming quarter. Barwidgee and Ironstone Well The 100% owned Ironstone Well and adjacent Barwidgee Projects covers over 400km2 of contiguous,
highly prospective and under-explored tenure located between the Jundee and Bronzewing mines in the northern Yandal Belt. Yandal has an established Resource of 268,000oz3 of gold at Flushing Meadows within the Ironstone Well tenure and considers there to be strong potential to make new discoveries and expand this resource base within the extensive tenure holding. The project area has numerous prospects including several with high-grade gold potential such as Sims Find which are the subject of ongoing exploration. Outside of these prospects there are extensive areas along known structures and along poorly defined interpreted structures that have been subject to little if any exploration. It is well known in the Yandal Belt and other greenstone belts, that the major deposits can often be associated with second or third order structures that may be difficult to define from geophysical data in largely covered terrains such as the Yandal Belt. The Company is currently in the process of completing a project-wide target generation exercise using an external consultant, specifically designed to identify targets with high potential for discovery along these poorly understood structures. In this initial round of drilling approximately 50 aircore holes for 4,000m of drilling will test three target areas identified by team. This includes drilling along strike from known high-grade mineralisation on well- defined structures as well as a first pass assessment of interpreted structures that will both test for mineralisation and provide geological and geochemical information to be used in ongoing targeting. The Marianas Prospect is situated approximately 4km north-west along strike of Corboys, along the Barwidgee Shear proximal to the granite- greenstone contact. Reconnaissance style mostly shallow RAB drilling in the late 1990's, intersected up to 7m @ 4.3g/t Au including 1m @ 24.5g/t Au from 20m. Mineralisation was thought to be associated with a granodiorite quartz porphyry which has intruded the main granitic body marginal to the granite-greenstone contact. The prospect area was subject to only limited follow-up and remains largely unexplored. Yandal plans to complete four initial lines of aircore drilling covering about 1.2km of strike with holes pushed to bedrock refusal. There is evidence of mineralisation up to 1.6km further north-west along the prospective contact and it is anticipated that if this initial drilling returns positive results drilling will be extended to cover this area. At Quarter Moon gold has been defined along a strike length of 1,000m with previous drilling by Yandal returning intercepts including 12m @ 2.0g/t Au incl 1m @ 16.5g/t Au. Historic drilling along strike has
been predominantly shallow (<50m) and therefore largely ineffective in this deeply weathered area. Three aircore traverses will test north-west and south-east of Quarter Moon along the Moilers Fault,
a subsidiary structure of the regional Barwidgee Shear for potential extensions of the mineralised system. Holes will be pushed through until bedrock is intersected to ensure an effective test.