Antilles Gold Limited announced that it has completed the ground magnetics and Induced Polarisation (IP) surveys over approximately half of the El Pilar concession in central Cuba that encompasses a cluster of large copper-gold porphyry targets. Interpretation of the surveys and an assessment of the scale of the two primary targets (El Pilar and Gaspar) is expected to be completed by the contractor undertaking the surveys, Servicios Geofisicos y Geotecnicos Integrales ("SGGI"), within the next two to three weeks. The 1,700ha El Pilar concession is held in an Exploration Agreement between subsidiaries of Antilles Gold and the Cuban Government's mining company, GeoMinera SA.

The geophysical surveys have been conducted over a 700ha area hosting a cluster of copper-gold porphyry targets - other targets outside this area will be surveyed at a later date. The survey has identified multiple chargeability and resistivity anomalies both adjacent to previous drilling, and to the south and east, and has confirmed interpretation of an aeromagnetic survey undertaken by a Canadian mining company in the 1990s. The anomalous chargeability zones indicate sub-vertical intrusives that are continuous to the lower limit of the surveys of +800m.

The Gaspar deposit to the east has a strike length of +1,000m and comes to the surface in an area that displays hydrothermal alteration. Evidence to date suggests the El Pilar concession will provide substantial advanced exploration targets. Numerous drill targets have been identified, and an initial drilling program to around 600m vertically will commence following interpretation of the completed surveys.

If the assays replicate the only cored hole that the Company has drilled into the outer zone of the El Pilar intrusive (134m at 1.23% Cu from 49m and open at depth), the value of the copper prospects in which it has an interest should increase significantly, and will become the subject of major exploration programs in 2024 and 2025.