Askari Metals Limited announced the results of the inaugural RC drilling campaign completed at the Company's 100% owned Horry Copper and Gold Project located in the Kimberley region of Western Australia. The drilling campaign's main target was the copper and gold mineralisation at the Horry Horse prospect, where the bulk of the approximately 2,100m program was focused. The mineralisation at Horry Horse outcrops over more than 400m and has been validated by several rock samples with results including 8.5% Cu and 3.77% Cu.

The results of the drilling program identified several intervals greater than 1% Cu and 1 g/t gold, and also indicated several sub-parallel mineralised lodes at both the Horry Horse and Mt Dockrell prospects. The results are considered very positive and culminates in new and additional targets being identified on the Horry Project for future follow-up exploration activities. Discussion of Results: The RC drilling program was designed to test the copper mineralisation at the Horry Horse prospect and the gold mineralisation at the Mt Dockrell prospect.

The copper mineralisation at the Horry Horse prospect manifests as outcropping malachite mineralisation within a shear hosted in metamorphosed intermediate sediments. The drill design here aimed to test the 400m long line of exposed malachite mineralisation visible in a shear zone at surface. The design also tested the extension of the mineralisation at depth beyond where the visible mineralisation outcrops.

The host of the gold mineralisation at the Mt Dockrell prospect is not clear, but an area of increased gold anomalism was identified by way of soil sampling and gold loaming conducted by the Company in the months leading up to the drilling program. The drill design at the Mt Dockrell prospect was aimed to identify potential mineralised hosts since the mineralisation seems to be "blind" on surface. Six holes were drilled in three lines to test the mineralisation in the Mt Dockrell prospect area.

Copper Mineralisation at Horry Horse Prospect Twenty-three holes totalling 1,710m were drilled in seven lines over more than 400 meters to test the outcropping malachite mineralisation at the Horry Horse prospect. Three to four holes were drilled below each other on each line to identify the dip of the mineralisation, while the various lines were designed to give an indication of the mineralised strike. The drilling identified that the mineralised structure is dipping at 70-75 degrees to the south, and also that there is more than one such sub-parallel unit striking to the northeast.

Some of the deeper holes intersected the northern-most zone of mineralisation, but additional drilling will be required to test this unit along strike and down dip. Three holes intersected very promising results including 4m @ 1.8% Cu from 24m in HRRC22001 which includes 2m @ 3.6% Cu & 0.2g/t Au from 26m. A further insersection of 3m @ 1.0% Cu from 18m was drilled in HRRC22003, including 1m @ 2.8% Cu & 0.2g/t Au from 19m.

Hole HRRC22016 also intersected 1m @ 0.8% Cu from 64 meters. Gold Mineralisation at Mt Dockrell Prospect: Six holes for 388 meters was drilled in three lines at the Mt Dockrell prospect aimed at identifying the host of the gold mineralisation which is not evident at the surface. The intercepts identified a southerly dip of about 70-75 degrees, but the strike is not yet clear.

Initial interpretation of the intercepts here in conjunctiuon with high definition magnetic data gathered earlier in 2022, is that the strike is to the northeast, but additional drilling programs will be considered to further test the mineralisation here at Mt Dockrell. Future Work: The Company is pleased that the inaugural drilling program on the Horry Copper and Gold Project was a success and is in the process of reviewing all the data with the aim of designing additional phases of drilling for execution in 2023.