Augustus Minerals Limited

Highlights:

• 78 RC holes for 9,086m completed, drilled across 6 project localities
• First drilling at Minnie Springs has intersected mineralisation, geology and alteration consistent with the zones of a porphyry copper system
• Strong results received from the first 22 holes drilled into the Minnie Springs copper project, including intercepts of:
  • MSRC012: 18m @ 0.52% CuEq(0.37% Cu and 9.7 g/t Ag) from 94m downhole, and;
  • 16m @ 0.69% CuEq (0.38% Cu and 19.4g/t Ag) from 121m downhole
  • MSRC022: 7m @ 0.19% Cu from 87m downhole
  • MSRC011: 7m at 0.12% Cu from 21m downhole
• MSRC012 mineralisation contained significant base metal and silver including:
  • 5m @ 27.6 g/t Ag, 0.25% Pb and 0.15% Zn with 148 ppm Mo from 107m, and
  • 14m @ 21.5 g/t Ag, 0.18% Pb and 0.1% Zn with 274ppm Mo from 122m
• Copper mineralization at Minnie Springs comprising disseminated and quartz vein hosted chalcopyrite in moderate to strongly epidote-chlorite (propylitic) altered host rocks
• Copper Ridge CRRC008 returned:
  • 4m @ 0.91% Cu from 13m
    • Including 2m at 1.67% Cu
• 2024 drilling at Minnie Springs to include further RC and DDH drilling to commence in Q1 or early Q2 2024

Highlights:

• Visual copper sulphide mineralisation observed in quartz veining in multiple holes at Minnie Springs
• MSRC012 – intersected multiple blebby to disseminated copper sulphide zones from 82m – 139m downhole
• 9,086m drilled in 78 holes across six project areas
• Review of soil sample results have defined numerous highly promising lithium anomalies over a single coherent area at the Peak Bore
  • Numerous lithium results Li2O > 100ppm and the key lithium pegmatite pathfinder element Rubidium > 400ppm
  • First pass reconnaissance mapping of the anomaly has identified outcrop of mafic greenstone and Leake Spring Metamorphics rock units which host spodumene pegmatites in the region
• Assay results from drilling in Q1 2024
• Cash position of $5.75m as of December 31

Highlights:

The primary objectives of the 2024 exploration program are to:

• Test with follow up RC and diamond drilling the multiple copper sulphide intercepts from prospects drilled during 2023
• Conduct RC Drilling at known prospects not yet drill tested
• Conduct a geophysical program over the Money Intrusion searching for nickel-copper sulphide targets
• Soil sampling program south-east of Minnie Springs along the Minga Bar fault for additional copper-molybdenum- gold mineralisation
• Soil sampling program west of Copper Ridge along the T-Tree Shear for further zones of copper-gold mineralisation
• Follow-up on lithium soil anomalies along the Ti Tree Shear at the Peak Bore prospect

Highlights:

• 9,086m drilled in 78 holes across six project areas
• Campaign designed to test extensive surface mineralisation identified through soil sampling and rock chip analysis
• Visual observations of copper sulphide mineralisation in quartz veining in multiple holes at depth
• Assays are due back progressively over the coming weeks.
• Exploration and drilling activities to re-commence in Q1 2024

• Review of soil sample results have defined numerous highly promising lithium anomalies over a single coherent area at the Peak Bore location.
• There are numerous lithium results where Li2O concentration is superior to 100ppm and where the key lithium pegmatite pathfinder element Rubidum is concentrated at over 400ppm.
• First pass reconnaissance mapping of the anomaly has identified outcrop of mafic greenstone and Leake Spring Metamorphic rock units which host spodumene pegmatites in the region.
• Location will be a key focus during the early portion of the 2024 exploration campaign.

Highlights:

• Copper sulphide zones intercepted in multiple RC holes
• MSRC012 – intersected multiple blebby to disseminated copper sulphide zones from 82m – 139m downhole
• RC Drilling continues at Minnie Springs with activities to be completed over the next several weeks
• Assay results due by late December