Anax Metals Limited announced that reverse circulation (RC) exploration drilling has commenced at the Whim Creek Project (the Project), located 115km southwest of Port Hedland in the West Pilbara Mineral Field of Western Australia. Exploration RC drilling is planned to cover the following prospects sequentially: 1,300m RC drilling (9 holes) at HLF Gold Prospect; 650m RC drilling (4 holes) at Whim Creek investigating near-mine and extensional copper-zinc targets, east and west of the existing open pit; 1,050m RC drilling (5 holes) at Mons Cupri, including 200m at the historically mined Comstock Hill; 450m RC drilling (2 holes) at Evelyn, 25km southeast of Whim Creek, where newly defined JORC 2012 Resources suggest potential for extensions at depth 5. The company took the opportunity to expand the proposed 1,000m programme1 to 3,500m and secured the services of Kalgoorlie based K-Drill to undertake the work. HLF Gold Prospect: The company's 2021 UltraFine+TM soil sampling defined a gold-arsenic anomaly straddling a northeast trending structure in the vicinity of the heap leach, after which the HLF Prospect was named.

1,2 Gold mineralisation, similar to that at De Grey's Hemi Prospect, located 61km due east, was confirmed by rock chip sampling along 100m spaced lines, generating results up to 4 g/t Au. Nine RC drill holes will test the geochemical anomalies, magnetic anomalies and associated structures, as well as following up the historical drill intercept (PS12 - 0.94g/t Au at 8m vertically down hole). Near-Mine Targets at Mons Cupri Open Pit: The 3D geological model showed gaps in the historical drilling at Mons Cupri West.

The Mons Cupri RC programme of four drillholes will target these gaps, as well as a down-dip extension to mineralisation previously mined at the Mons Cupri Northwest oxide pit. Historical RC drilling at Comstock Hill intersected 3.63 g/t Au and 0.48% Cu2 at 30m downhole and one RC drill hole is planned at Comstock to investigate further.