Carnaby Resources Limited to announce a new high grade gold resource at its 100% owned Tick Hill gold deposit. The Tick Hill Main Lode historically produced a bulk of the 511,000 ozs @ 22 g/t gold mined from the open pit and underground in the early 1990's. The Main Lode averaged approximately 10 m width over an average strike length of 90 m. Due to the prevailing low gold price environment ($U350/oz) at the time of historical mining, some sections of the Main Lode were not mined, especially the southern strike extent of the Main Lode directly underneath the open pit. Drilling in the second half of 2019 by Carnaby intersected high grade gold mineralisation in the Main Lode and importantly confirmed that the high grade southern extent of the Main Lode beneath the open pit had not been mined previously. Approximate true width drill results from within the Main Lode resource include; CBC005: 6 m @ 8.5 g/t gold including 1 m @ 41.9 g/t gold; CBD023: 3 m @ 2.9 g/t gold including 1 m @ 4.8 g/t gold; U8401: 12 m @ 9.1 g/t gold including 1 m @ 94.6 g/t gold; U8503: 7 m @ 7.6 g/t gold including 3 m @ 16.9 g/t gold; TH047RD: 2 m @ 104.1 g/t gold including 1 m @ 207.8 g/t gold; U8703: 23 m @ 2.1 g/t gold including 1 m @ 16.8 g/t gold; U8701: 14 m @ 7.47 g/t gold including 5 m @ 18.7 g/t gold; TH002D: 4 m @ 6.18 g/t gold; U8402: 5 m @ 1.46 g/t gold and 6 m @ 2.32 g/t gold; In addition to the unmined sections of the Main Lode, an unmined skin of mineralisation is present at several locations of the stoped areas and has been mostly included as Inferred Mineral Resource. At the time of historical mining of the underground, stope lower cut-off grade was 5 g/t gold therefore considerable high-grade gold mineralisation remains in certain areas. Total Tick Hill Main Lode Indicated and Inferred Mineral Resources was estimated using Ordinary Kriging and reported at a 0.5 g/t gold lower cut off to be; 154,000 t @ 7.02 g/t gold for 34,700 ounces. Tick Hill Hangingwall Lode Resource: The Tick Hill Hangingwall Lode is an ancillary lode, sub-parallel to the wider Main Lode that was mined out in the early 1990's producing a bulk of the 511,000 ozs @ 22 g/t gold. The Continuity of the Hangingwall Lode is excellent, averaging approximately 3 m true width and located on the contact between the main Lodestone and Upper Quartzite units approximately 5 m to 15 m away from the Main Lode. Drilling in the second half of 2019 by Carnaby intersected high grade gold mineralisation in the Hangingwall Lode and importantly confirmed that a majority of the Hangingwall Lode had not been mined previously. Approximate true width drill results from within the Hangingwall Lode Resource include: CBC003: 2 m @ 17.9 g/t gold; CBC024: 3 m @ 9.78 g/t gold; U9001:2 m @ 15.4 g/t gold; U9005: 1 m @ 92.0 g/t gold; TH007RD: 1.5 m @ 70.5 g/t gold; TH085RD: 2 m @ 10.1 g/t gold; The Hangingwall Lode Resource is located immediately below the Tick Hill open pit covering an area of approximately 80 m strike by 80 m vertical extent. Drill spacing within the resource area is at approximately 10 m x 10 m spacing. Total Hangingwall Lode Indicated and Inferred Mineral Resource was estimated using Ordinary Kriging and reported at 0.5 g/t gold lower cut off to be; 54,000 t @ 4.90 g/t gold for 8,500 ounces.