EAST POGO RC DRILLING UPDATE - 64NORTH PROJECT

"The beauty of the RC drilling program was the low cost at which we were able to complete 12 holes, testing multiple hydrothermal fluid pathways defined by geophysics over a very large area. We identified dilation zones critical for gold mineralisation to form and multiple quartz veins bearing minor sulphides were intersected. While we did not receive near-surface gold results, the valuable data collected means we can now focus our efforts on a deeper target zone of 2000m x 1600m.

In particular, hole 21EP008 encountered strong proximal Au-Bi-W-(Te) geochemical signature increasing towards the base of hole, indicating we were likely getting close to a gold mineralised system. However, the hole had to be abandoned prior to reaching target depth due to ground conditions and for this reason we are contemplating returning with a core drilling rig to effectively test this target for potential high-grade Pogo-style mineralisation."

Resolution Minerals is pleased to announce drilling assays results on the recently completed RC drilling program on the East Pogo Gold Prospect at the 64North Project in Alaska. East Pogo is on the Pogo Trend positioned between the 11M oz Pogo Gold Mine and the Tibbs Discovery. The compelling shallow drill targets are the culmination of 20 months’ preparation including field work, desktop review, CSAMT and ZTEM geophysics surveys and logistics planning. Historic drilling at the East Pogo prospect had returned significant intercepts including 0.5m at 24.3g/t gold and 0.1m at 35g/t gold (Figure 1). The recent drilling utilised shallow, low cost, RC drilling as a first pass test of the targets to define follow up deeper drilling targets.

12 RC drill holes totalling 1,663m were designed to test gold targets of between 50m to 190m depth, were completed. The drillholes encouragingly intersected intensely altered basement gneisses (target rock unit) cross-cut by up to 4.6m thick intersections of abundant quartz-sulphide veining. The quartz veins intersected did not contain significant gold assay values but the increasingly strong pathfinder geochemistry towards the end-of-hole (Hole ID: 21EP008) has provided compelling vectors for highly prospective gold zones beneath our drillholes. With diamond drilling to test these deeper zones under consideration.

Important information can be obtained from pathfinder elements analysis which can determine proximity to a gold mineralised system. Typically, a Pogo-Style gold system has particular elements such as Au-Bi-Te-S (+/- As) present when close to a mineralised zone (see below section “About the Pogo Gold Mine and Pogo style mineral systems”). By analysing this data, we have identified an area of 2000m x 1600m most likely to host gold mineralisation (Figure 1). Within this zone, the final sample on RC drill hole 21EP008 intersected sericite and biotite alteration including minor quartz veining and a strong proximal geochemical pathfinder spike despite not reaching target depth. The hole had a trend of increasing Au and alteration intensity over the last 50m with sericite alteration present in the last few meters. This signifies the high potential of gold mineralisation further down.

Hole 21EP008 could be followed up with diamond drilling via an adjacent valley as an effective test of the potential Au system. This will result in significantly less metres than a ridgeline drill hole such as Hole ID: 21EP008. The Company is assessing logistical and technical considerations for further drilling programs, noting that drilling approvals are in place within the 2000m x 1600m zone of interest identified by the RC drilling program and results. A diamond core drilling rig is likely to become available in a few weeks from an adjacent project and may provide the Company with an opportunity to drill test further targets in the near term.