Ballymore Resources Limited announced that mobilisation of a drill rig is complete, and the next phase of drilling has commenced at the Company's Dittmer Gold Project, located near Proserpine in North Queensland. A significant drilling program is planned to test the recently discovered fault extension of the high-grade Duffer Lode from underground. In recent months the Ballymore team has worked to extend the existing underground development and establish the new drill platform, which will increase the efficiency of the drill program as test further depth and strike extensions of the offset orebody.

The Dittmer Mine was one of the highest- grade gold mines in Australia prior to mining ceasing at relatively shallow depths due to the offset faulting of the main lode and operational capabilities at the time. recent discovery of the faulted extension of the high-grade gold and copper lode is an important development for the Company. Previous drilling by Ballymore in 2022 reported bonanza grade copper-gold- silver results, including 4.3m @ 29.02 g/t Au, 11.1 g/t Ag & 0.81% Cu, including 0.5m @ 171.8 g/t Au, 56.4 g/t Ag & 5.28% Cu.

This new step-out drill program will test the lode extension along strike and down- plunge of the previous drilling to establish the continuity of mineralisation. In addition further field work is planned to test potentia extensions to the known mineralisation, with historic workings extending for over 2km". Following the Stage 1 drilling program in 2021, Ballymore interpreted a fault displacement of the high- grade Duffer Lode.

Follow-up drilling in 2022 intersected significant quartz-chalcopyrite veining, similar in style to ore mined in the historic high-grade Dittmer mine. confirming this interpretation. Significant drilling results included: DTDD009: 4.3m @ 29.02 g/t Au, 11.1 g/t Ag & 0.81% Cu from 118.4m, including 2.25m @ 54.9 g/t Au, 20.6 g/t Ag & 1.52% Cu from 118.4m and 0.5m @ 171.8 g/t Au, 56.4 g/t Ag & 5.28% Cu from 120.15m1.

DTDD005B: 9.1m @ 3.02 g/t Au from 131.95m including 2.05m @ 11.64 g/t Au from 139m 2. DTDD007: 12.0m @ 2.44 g/t Au from 96m including 4.35m @ 4.89 g/t Au from 97.65m2. Following the receipt of these exceptional initial drill results, substantial work has been completed, including the design of a major follow-up drilling program to test this fault extension of the Duffer Lode from underground. Mining works have been undertaken to extend the underground development beyond the initial drilling platform for the upcoming drilling program.

The historic drive from the previous exploration chamber has been stripped out to a larger size to allow passage of equipment and the drive has been extended to a new chamber. The mining excavation and ground support was completed by Ballymore's operational team in December. Ballymore is the largest tenement holder in the Proserpine area with four exploration permits covering an area of 488km2 as well as two granted mining leases.

The Dittmer Mine (also known as Kelsey Creek) is historically the largest mining operation in the Proserpine region and exploited the Duffer Reef. After its discovery in 1934, it became one of the highest-grade gold mines in Australia. From 1935 to 1951 it produced over 54,500 oz of gold (1,696 kg), 23,400 oz of silver (728 kg) and 295 long tons of copper (300 t) from 17,100 long tons of ore.

Production figures are incomplete after 1947, but between 1935 and 1947 reported production figures indicate that the mine operated at an average mined grade of 151.1g/t Au 66.8g/t Ag and 2.8% Cu. The Dittmer mine area had never been drill-tested prior to Ballymore acquiring the project. In 2021, historic underground mine workings at Dittmer were refurbished by Ballymore and a drilling platform was developed on 4 level to complete drilling from underground and substantially reduce drill depths, saving time and cost.

Upon reopening of the old workings, a total of 33 underground channel samples were collected with 24 of these exceeding 10g/t Au and 10 samples exceeding 100 g/t Au including a best result of 0.4m @ 207g/t Au, 2.97% Cu & 76 g/t Ag and individual gold samples up to 287g/t Au. Results of these channel samples highlights the potential for the underground area to still host significant remnant pillars of high-grade ore. In addition, when mining occurred in the 1930's and 1950's, historic stopes were backfilled with material deemed too low grade at the time but still often highly mineralised.

Ballymore has sampled historic backfill in the stopes on 4 and 5 level with the results demonstrating that significant grade remains in the backfill material with all results exceeding 4.0 g/t Au, up to 81.7 g/t Au. Historic records state that there may be 115,000 tons of backfill material in stopes, but this is yet to be verified.