29Metals Limited announced results from exploration and resource development programs at Capricorn Copper, Golden Grove and Redhill. The drilling and exploration results in this release have been prepared and are reported in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Surface drilling has intersected wide zones of copper, silver, and cobalt mineralisation, with results exceeding what is modelled within the existing Mineral Resources estimates.

2 Key results include: SDESS22_002_W4: 72.9m @ 2.9% Cu, 37g/t Ag, 672ppm Co, from 793m. SDESS22_001_W4: 29m @ 2.0% Cu, 18g/t Ag, 441ppm Co, from 690m; and 86m @ 2.8% Cu, 32g/t Ag, 822ppm Co, from 727m. SDESS22_002_W2 ­ 104m @ 2.0% Cu, 22g/t Ag, 714ppm Co, from 746m.

SDESS22_002_W3 ­ 50.7m @ 2.1% Cu, 15g/t Ag, 896ppm Co, from 894.3m. SDESS22_002_W1 - 23m @ 4.3% Cu, 19g/t Ag, 395ppm Co, from 696m. Drilling has intersected local zinc, silver, gold, lead and copper mineralisation outside of the existing Mineral Resources estimates.

Key results include S22/047 which intersected 2.8m @ 42.7% Zn, 0.1% Cu, 0.6% Pb, 300g/t Ag, 1.3g/t Au, from 272.7m Results have also been received for the first extensional hole to the north, which intersected zinc, silver, and gold mineralisation outside of existing Mineral Resources estimates, with hole S21/074 intersecting 8.3m @ 10.7% Zn, 0.1% Cu, 0.6% Pb, 52g/t Ag, 0.7g/t Au, from 909.7m. Returned rock samples have highlighted possible extensions to existing veins as well as additional veins outside of existing Mineral Resources estimates, with samples returning elevated copper and precious metals mineralisation, with results as high as 3.4% Cu, 9.5g/t Au, and 221g/t Ag. The ESS deposit is one of 29Metals' active mining areas (sub-level cave) at Capricorn Copper and is open down plunge and in some areas, to the south.

The ESS drilling program is designed to convert material classified as Inferred Mineral Resources in 29Metals' current Mineral Resources estimates to higher confidence levels and to extend mineralisation relative to existing estimates. Resource Extension drilling at ESS is testing down plunge of known mineralisation. Drilling has occurred both from surface and underground platforms, and has comprised (to-date), 19 underground drillholes and nine surface drillholes.

Drilling at depth has intersected intervals that exceeds what is modelled within the existing Mineral Resources estimates. ESS remains open down plunge, with wide zones of copper, silver, and cobalt mineralisation intersected in the deeper parts of the orebody. As disclosed in 29Metals' Jun-Qtr quarterly report, these results have warranted commitment of an additional $2 million to expand the drilling program from surface, and drill further holes within the immediate area as well as down plunge to the south.

This second phase of drilling from surface is underway and is expected to continue into the December quarter.