Ballymore Resources Limited announced that drilling is continuing to expand the mineralised zone at the Company's Dittmer Gold Project, located near Proserpine in North Queensland. To date, nine holes (DTDD011 - 019) have been completed with all holes intersecting the modelled fault extension to the Duffer Lode, as planned, with quartz-pyrite-chalcopyrite vein-hosted mineralisation encountered. Assay results have now been received for the first four holes (DTDD011 - 014) and have reported further significant gold intersections.

The results of these holes, in conjunction with the results reported in the previous drilling completed by Ballymore at Dittmer, demonstrates that this area hosts a significant, previously undiscovered, gold deposit. The Dittmer Mine was one of the highest-grade gold mines in Australia when operating. Previous historic mining produced over 54,500 oz of gold, 23,400 oz of silver and 295 long tons of copper (300 t) from 17,100 long tons of ore.

Historic mining only extended 90m below the access level and the newly recognized lode structure has been up-faulted to within 20m of this level, representing an extremely shallow, high-grade gold-copper target within a granted mining lease. The deposit remains untested at depth and to date has only been tested to approximately 200m beneath the access drive. The Dittmer mine area had never been drilled prior to Ballymore acquiring the project.

The decision to refurbish the historic workings by the Ballymore team and drill from underground has been highly successful, reducing required drill metres and associated costs to reach target, as well as enabling to drill during the North Queensland wet season. The current program continues to expand the fault-extension of the Duffer Lode and provide substantial additional information regarding the controls on mineralisation. Drill holes DTDD015 - 018 have now been logged and sampled with assay results expected in April.

Following receipt of the full set of results from this program, further assessment will be completed by the Ballymore Technical team to determine steps to advance the project through to a Mineral Resource and subsequent feasibility study". Dittmer Stage 3 Underground Drilling Assay Results Update: To date, nine holes (DTDD011 - 019) have been completed in the current program for a total of 1,663.4m of HQ3 drill core. The first four holes (DTDD011 - 014) were sampled and submitted to the laboratory in February with significant results now received in all four holes, including: 3.5m at 8.89 g/t Au & 2.7 g/t Ag (DTDD013: 120.4 - 123.9m) including 2.75m at 11.24 g/t Au & 3.4 g/t Ag (DTDD013: 120.4 - 123.15m); 0.55m at 48.82 g/t Au & 14.4 g/t Ag (DTDD013: 121.8 - 122.35m); 0.7m at 34.70 g/t Au, 2.9 g/t Ag &0.35% Cu (DTDD012: 124.85 - 125.55m; 12m at 1.96 g/t Au, 0.8 g/t Ag (DTDD014: 163.0 - 175.0m); 2.75m at 4.65 g/t Au, 1.7 g/t Ag & 0.13% Cu (DTDD011: 104.0 - 106.75m) including 0.5m at 15.52 g/t Au, 2.3 g/t Ag & 0.14% Cu (DTDD011: 104.0 - 104.5m) 0.4m at 11.33 g/t Au, 7.5 g/t Ag & 0.67% Cu (DTDD011: 106.35 - 106.75m).

Results from these recent holes continue to demonstrate excellent continuity of the mineralised structure with widths generally exceeding the lode mined in the historic mine. Historically, the Duffer Lode was selectively mined and focussed on extracting the main vein, which was typically 10 - 30cm wide. Ore was hand-picked with lower tenor material used to backfill the stopes.

Drilling to date has demonstrated that other veins intersected within the greater lode structure are also mineralised, and the lode structure is often >2m in true width with drill intersections regularly reporting >20 metre-gram gold intersections (up to 125 metre-grams Au in DTDD009). The encountered widths and grades will have a positive impact on reducing dilution in any potential future mining plan. About Dittmer Stage 3 Underground Drilling Program: The Dittmer mine area was first drilled in 2020 by Ballymore Resources.

Prior to the current program, Ballymore had completed 10 drill holes (DTDD001 - 010) for 2,578.8m. The current, Stage 3 underground drilling program was designed to step out from previous drilling to test potential extensions to previously recognised gold mineralisation in the fault-offset Duffer Lode. To date, all Stage 3 holes have successfully intersected the Duffer lode within a few metres of the interpreted position, based on the offset lode model.

Further significant zones of quartz-carbonate-pyrite- chalcopyrite veining have been logged in recent holes since the previous drilling update. Significant intervals of veining reported in the latest holes include the following: DTDD015: Shear zone overprinted by quartz-pyrite +/- chalcopyrite veins from 207.4 - 209.6m (2.2m) including a quartz-pyrite stockwork zone from 207.4 - 207.9m at the top of the shear zone, a massive quartz-pyrite vein from 207.9 - 208.2m and a sheared quartz-sulphide vein from 209.3 -209.6m; DTDD016: Quartz-pyrite +/- chalcopyrite veins in zone of shearing from 164.9 - 166.5m (1.6m) including a 15mm quartz-sulphide sheared vein at 164.9m, a 10cm quartz-sulphide vein from 165.5m and a 5cm quartz-sulphide vein from 166.5m. DTDD017: Shear zone from 166.4 - 178.7m overprinted by quartz veins including a sheared quartz-carbonate-pyrite vein from 166.4 - 166.65m (28cm) as well as a quartz-carbonate-pyrite vein from178.45 - 178.65m (20cm).

DTDD018: Significant zone of shearing from 192.6 - 196.65m (4.05m) crosscut by veining including a 30cm quartz-carbonate-pyrite-chalcopyrite vein (192.75 - 193.05m) along with several shear zones and fault breccias. DTDD019: Significant zone of veining from 212.0 - 215.85m (3.85m) including a zone of pyrite carbonate +/- chalcopyrite stringer veins up to 20mm from 212.0 - 213.85m and a variably sheared quartz-pyrite-chalcopyrite-carbonate stockwork zone at 213.85 - 214.9m. Drilling to date has demonstrated excellent continuity of the mineralised structure.

Step out drilling indicates that the lode extends for over 260m along strike and over 200m down-dip and remains open along strike and down-dip. Assay results have been received for the first four holes (DTDD011 - 014) and drill holes DTDD015 - 018 have now been logged, sampled with assay results expected in April. To date, 9 holes (DTDD011 - 019) have been completed for 1,663.4m, with a further 1,337m of drilling planned in the current phase of drilling.

The current drilling program is expected to be completed in April 2023 with assays to follow.