Zuleika Gold Limited announced the commencement of a 740 sample soil geochemistry program at the Company's Goongarrie Project, 90 km north of Kalgoorlie (Project). The program will infill previous geochemical sampling completed by Zuleika and will extend the coverage over the Project's prospective greenstone lithologies associated with the Wongi Hills Syncline and regional shearing. Multi-element assaying will be used to test for both anomalous metal concentrations and in determination of lithologies.

The Goongarrie Project tenements (E29/1051 and E29/1010) are located ~90km north of Kalgoorlie and 20km west of the Goldfields Highway. Access is via the highway and well-made secondary roads and station tracks. The tenements cover over 230 km2 of the northern section of the Wongi Hills Greenstone Belt, which extends 50 km north northwest from the mining centre at Siberia.

Zuleika is earning an 80% interest in both tenements with separate parties. The geology is dominated by a south-plunging synclinal structure of mafic and ultramafic rocks with minor felsic rocks and narrow bands of metasediments enclosed by granites. The sequence has been intruded by fine-grained felsic porphyry dykes and quartz veins.

Structural interpretation suggests significant faulting parallel to the fold axes - being potential pathways for mineralising fluids. Existing soil geochemistry data coupled with the favorable geology and structural preparation enhance the possibility of the presence of gold and nickel mineralisation. Transported sand cover overlies a sizeable portion of the tenements, particularly over the granite lithologies with thickly vegetated basaltic hills separated by more open undulating terrain of residual soils increasing over the greenstone lithologies.

On E29/1051, an ovoid granite or felsic intrusive is encased by the greenstone providing another potential structural focus for mineralising fluids. The northern extension of the Wongi Greenstone Belt lies between the nearby and richly endowed greenstone belts containing the Goongarrie and Davyhurst mining centres to the east and west and along strike to the north from the Siberia mining centre in the same belt of rocks. A considerable number of nickel occurrences are also located in the district.

There is no geological reason ­ apart from the lack of previous exploration ­ that gold mineralisation will not be found in the 20 strike kilometres at the north end of this greenstone belt. Earlier prospectors have excavated shallow pits on sulphide-bearing quartz veins within E29/1010. Modern exploration in the area focussed initially on the lateritic and sulphide bearing nickel exploration with gold exploration commencing in the 1980's. Julia Mines Annual Report (WAMEX Report No.

A21553) mentions that prospectors obtained gold "colours" from ~30% of the samples from trenches whilst mapping in 1985, with results from these samples returning a maximum assay of 0.16 g/t Au. Mapping, rock chip sampling and geochemical soil sampling have been completed by other companies in the past 30 years. No drilling is recorded on either tenement.

Shallow RC drilling immediately to the south of the tenement targeted nickel laterite that returned anomalous nickel assays within the komatiite unit. The most significant geochemical sampling program on the E29/1010 was undertaken by Rumble Resources Limited from 2011 ­ 2015, completing a series of wide spaced soil traverses over the tenement targeting both nickel and gold, resulting in the identification of anomalies (WAMEX Report No.s A97629 and A107824). East-west trending lines were spaced at 400m to 800m intervals north- south, with samples 100m apart.

Two significant +250ppm nickel in soil anomalies, were identified, one on the western side of the tenure, the other in the south-eastern corner. Both anomalies continue outside of E29/1010. The anomaly on the western side of the tenure strikes ~8km and contains 36 samples greater than 250ppm Ni.

The anomaly continues for another 4km north of the tenement boundary into E29/1051. The sampling does not cover the breadth of the prospective geology. The anomaly on the south-eastern side of the tenure strikes over 1.8km and contains 6 samples greater than 250ppm nickel.

This anomaly continues to the south and is defined by the shallow RC drilling mentioned previously and coincides with the komatiites of the Walter Williams Formation. This Rumble sampling also defined several strong +10ppb Au soil anomalies on the western side of the Project. These anomalies correlate with structures mapped by Geological Survey Western Australia and are coincident with the western nickel soil anomaly.

These anomalous gold values continue northward onto E29/1051 as defined by three phases auger soil sampling programs completed by Zuleika in 2020-21. An approximately 10km long gold in soil zone of anomalism is defined over the two tenements. The gold and nickel anomalies, defined largely by widely spaced samples, require further definition prior to drill testing.

No surface sampling or drilling has been conducted along the axial plane of the Wongi Syncline, on either tenement, which is a potential target for gold mineralisation. In addition, extraordinarily little work has been conducted along the granite-greenstone contacts. Following receipt of the soil sampling assay results, Zuleika expects that areas of compelling anomalism will be evident, and drilling will be justified at priority targets.

Assuming drilling approvals will be obtained in Q1, 2023, drill testing of targets is expected in Quarter 2 or 3 of that year.