Dundas Minerals Limited is actively exploring for nickel, copper and gold in the prospective Albany-Fraser Orogen, Western Australia. Confirmation of timing for down hole electromagnetic survey Dundas Minerals has been advised by its appointed geophysical contractor, Vortex Geophysics Pty Ltd. (Vortex), that it will mobilise a down-hole electromagnetic (DHEM) survey crew and equipment to the Company's Central exploration target on 9 December 2022. The plan is for Vortex to survey up to four diamond drill holes (22CEDD002 ­ 22CEDD005) at Central.

A DHEM survey is excluded in 22CEDD001 due to the collapse of the PVC casing during installation. The aim of the DHEM surveys is to locate off-hole conductors interpreted from modelled audiomagnetotellurics (AMT) data (holes 22CEDD002 and 22CEDD004), and modelled airborne electromagnetic (AEM) data (22CEDD003). Any conductors may be considered to be indicative of possible massive sulphides.

Proposed drill hole 22CEDD005 will test a magnetic model target, and a DHEM survey in this hole will be dependent on results from the drilling. The DHEM data and subsequent modelling will be used with other geophysics data to design future drilling near holes 22CEDD002 and 22CEDD004, and hole 22CEDD003 if warranted. Also, the DHEM data is expected to assist Dundas Minerals to plan its next drill hole at Central more precisely (Hole 6).

The purpose of this hole is to effectively test the modelled AMT line 11000 anomaly. Hole 6 is currently planned for January 2023. 50% of the direct drilling costs of the hole (to a maximum of $110,000), will be funded by the Western Australian Government under its Exploration Incentive Scheme (EIS).

A second co-funded drill hole at Central has also been awarded $110,000 of EIS funding, this hole may also be drilled in early 2023, depending on the results from Hole 6.