Aeris Resources Limited provided an update on the development of the Avoca Tank Project, located at the Company's 100% owned Tritton Operations in NSW. The Avoca Tank deposit is a small, high-grade copper/gold deposit located 5km to the north of the Murrawombie mine and 27km north-west of the Tritton processing facility. Avoca Tank has a mineral resource of 900kt 1 @ 2.6% Cu and 0.8 g/t Au (24kt contained copper and 22koz contained gold) and an Ore Reserve of 700kt 2 @ 2.5% Cu and 0.8 g/t Au (18kt contained copper and 18koz contained gold).

The deposit remains open down-plunge with mineralisation intersected, from drilling in Fiscal year 2022, 75 million below the current Mineral Resource envelope. Construction of the 2.5km access decline, from a portal which has previously been used to access the North-East and Larsens mines, commenced in October 2021 and intersected the deposit, on time, during the 2022 Christmas period. Small volumes of development ore have already been processed through the Tritton processing plant, with metallurgical performance in line with expectations.

The access decline was designed to intersect the current Mineral Resource mid-point, enabling development of stoping levels to commence, both up-and-down plunge in parallel. Moving Forward: Now that the orebody has been intersected the focus is to establish services and ventilation so that development of the stoping levels can commence. Establishment of a ventilation shaft in the March ­ May period will enable first stoping ore to be produced during the June quarter.