Caprice Resources Ltd. provided an update on the Northampton Polymetallic Project (Northampton), located in the Northampton Mineral Field of Western Australia. Northampton is a historical mining area with over 100 years of base metals mining, with minimal on-ground exploration completed during the last 50 years. A high-resolution aeromagnetic survey, including radiometric data, was completed on the western and southern portions of the project.

An initial review of the data has highlighted multiple areas of interest, including localised magnetic and radiometric features, as well as better granularity on structures associated with base metals mineralisation. Caprice will field check a number of these in the near future. A more detailed review and interpretation will be completed in early 2023 and used for target generation.

An additional aeromagnetic survey is planned for 2023 which will focus on a large-scale magnetic feature on the eastern margin of the project area. The magnetic feature is similar to the magnetic anomaly seen on St George Mining Limited's Ajana project to the immediate east. St George has indicated Ajana is potentially a layered mafic intrusion that is prospective for Ni-Cu-PGEs.

RC drilling targeting base metals mineralisation at Yungaro (historical Lady Sampson deposit) is scheduled for early in the new year. The original December start date was postponed due to longer than expected delays from DMIRS. The drilling will test mineralisation potential over c.600m of strike.

The aerial magnetic survey will also assist in the assessment of pegmatite hosted rare earth elements and lithium potential. There are numerous historical reports of pegmatites across the region. Field reconnaissance to identify, map and sample pegmatites is underway and will continue into 2023.

Initial results from this program are due in mid to late December. The aerial magnetic survey was completed by Magspec Airborne Surveys in October and covered tenements E 66/99 (western block), E 66/106 and E 70/5677 (southern block). The survey involved 50m spaced east-west lines with a targeted sensor height of 30m, and 500m spaced north-south tie lines.

The survey also included the capture of a detailed digital elevation model and radiometric data. The dataset was processed by Southern Geoscience Consultants in late November, with a detailed structural and lithological interpretation scheduled for early in 2023. Several preliminary areas of interest have been identified following an initial review of the magnetic and radiometric data.

These will be investigated in the near future as part of ongoing reconnaissance programs across the project area. These include several large discordant magnetic and radiometric highs. Additional targets are expected once detailed structural and geological interpretations are complete early next year.

A second aerial magnetic survey is being scheduled for early 2023 over interpreted large intrusive bodies located along the eastern margin of the Northampton project. The magnetic anomaly in this area is similar to that seen in the St Georges Mining's adjacent Ajana project. St George completed magnetic inversion modelling of a large magnetic feature over 25km long and 6km wide within E 70/5521.

The inversion results suggest that the anomaly is indicative of a late-stage, potentially layered mafic intrusion, and a prospective Ni-Cu-PGEs target.