Blaze International Limited (ASX: BLZ) (Blaze, the Company) is pleased to report the receipt of a recently completed Gradient Array Induced Polarisation (GAIP) survey from the Jimberlana Project within the company's southwest nickel projects joint venture (Blaze 90%).

The Jimberlana Project is part of a strategic landholding in a highly prospective 'intrusive corridor'. The Company is exploring the Jimberlana tenement for large tonnage, disseminated style mineralisation within ultramafic portions of the intrusion.

The GAIP survey has defined two chargeability anomalies within pyroxenite phases of the intrusion that supports the model of sulphide accumulation and mineralisation. These two anomalies are high priority drill targets. Blaze's Director Simon Coxhell commented 'Definition of untested chargeability anomalies is a fantastic outcome so soon after grant of the tenure. Blaze has demonstrated the prospectivity of the intrusion and the strength of our exploration methodology.'

Blaze's JV partner, Mr Roland Gotthard, commented 'Repeating the historical IP survey has confirmed the position of the anomalies, especially these interpreted point-source or circular 'pipe' targets, within the Jimberlana complex and confirmed targets for drilling. The definition of coherent geophysical anomalies on the project is highly encouraging and we look forward to the drill testing of these magmatic nickel sulphide targets.'

IP ANOMALIES IN EASTERN CORE COMPLEX

The Jimberlana Norite is a sizeable differentiated mafic-ultramafic intrusion of the Widgiemooltha Suite and is known to be mineralised with nickel, copper and PGE sulphides at various localities. E63/2009 covers 18 kilometres of strike on the western end of the intrusive system. Blaze has interpreted three ultramafic 'core' intrusions on E63/2009 with the 'Eastern Core Complex' returning coincident nickel, copper and platinum group elements.

The geochemistry was interpreted as evidence of the fertility of the Eastern Core Complex for nickel sulphide mineralisation hosted on the mafic/ultramafic contact (ASX Release 27 April 2021). Blaze completed a Gradient Array IP survey over the western half of the Eastern Core Complex to detect the presence of disseminated sulphide accumulations.

The results show a dyke-parallel moderately chargeable zone associated with a low-magnetic phase of the intrusion. This zone is interpreted to represent disseminated sulphide within a non-magnetic pyroxenite. Blaze interprets the two point-source chargeability anomalies as representing localised zones of increased sulphide abundance. These two 'pipe' targets (named Huginn and Munnin) represent compelling drill targets. Huginn is approximately 200m wide and Munnin is approximately 300m x 200m in dimension

Typically within chonoliths or differentiated intrusions sulphidic bodies may form in smaller tubular or pipe-like bodies within the larger intrusion. These may be remobilised breccia sulphide pipes or transgressive pipes of sulphide bearing magma.

The most prospective portions of these pipes tend to be the 'feeder' zones at depth. Blaze believes that the 'keel' of the Jimberlana Norite may be the most prospective location for massive sulphide accumulations and may be up to 800m deep. The chargeability anomalies may represent the first evidence of a dynamic, mineralised intrusion that can be followed to the feeder zone at depth. The initial drill testing will be to confirm the nature of the anomalies and relationship to potentially economic mineralisation.

Munnin targets heritage clearance surveys will be required prior to drilling these targets. Surveys are scheduled to occur in June or July. Further IP surveys are being planed over the remainder of the Eastern Core Complex and the Central and Western Core Complexes to detect any further high chargeability zones. This announcement has been authorised by the Board of Blaze International Limited.

FORWARD-LOOKING STATEMENTS

This document may include forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning Blaze International Limited's planned exploration program and other statements that are not historical facts. When used in this document, the words such as 'could,' 'plan,' 'estimate,' 'expect,' 'intend,' 'may', 'potential,' 'should,' and similar expressions are forward-looking statements. Although Blaze International Limited believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements.

Contact:

Tel: 08 6489 1600

Fax: 08 6489 1601

Email: info@blazelimited.com.au

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