Golden State Mining Limited announced the final assay results and round up from its first pass phase two reconnaissance air-core ("AC") program at the Yule Project in the Mallina Basin. GSM is currently working with well-regarded industry consultants with respect to the significance of the phase 2 gold intercepts and their geological host rocks to plan a follow up drill strategy. The outcomes of this process will be combined with planned RC drilling based on the encouraging gold intercepts at Target 1 East, anomalous arsenic and gold at Target 2 and anomalous gold and interpreted hydrothermal alteration at Target 5 delivered from the Phase 1 and 2 air-core programs. Yule Phase Two AC Program: All outstanding assay results have been received for the remaining target areas drilled during the phase two reconnaissance program. All holes were drilled on nominal 160 metre centres to blade refusal or to the limit of available drill rods (156 metres maximum). Phase two drilling returned several four-metre composite intervals greater than 0.1 ppm gold, recorded 39 holes or 20% of holes in the phase 2 program ending in anomalous or elevated gold and/or arsenic and intersected numerous broad intervals of elevated gold values over downhole widths of 12 metres or more. Target 1 West: Drilling at this target was designed to test prospective structural and intrusive zones in this area. Twenty-one holes were drilled at 160 metre centres on four variably spaced traverses for a total advance of 2,168 metres. Field logging recorded a shallow cover to a depth of 15-20 metres. Logged bedrock geology consisted of a range of variably weathered and highly altered metasediment rock types and schists displaying variable silica and pyrite alteration. Two reconnaissance AC traverses tested discrete magnetic anomalies constrained along an interpreted south-east structural trend. The best composite gold intersections included 4 metres @ 0.11g/t Au from 109 metres in hole 20GSYSAC0202 and 3 metres @ 0.10g/t Au from 113 metres in hole 20GSYSAC0203. These encouraging intersections were accompanied by multiple intervals of elevated +10ppb gold. The assay results of two infill holes on 80 metre centres drilled either side of hole 20GSYSAC0202 have now been received. Drillholes 20GSYSAC0300-301 encountered similar silica and pyrite alteration of metasedimentary rocks and intersected zones of elevated gold. 20GSYSAC0300 intersected a 48 metre interval of +10 ppb gold hosted in a chlorite altered and iron-stained saprolite sequence interpreted as a metasediment unit. Two additional AC traverses tested magnetic dislocations to a major north-south structure and parallel demagnetised zones interpreted to represent localised alteration. Anomalous gold intersections included 4 metres @ 0.10g/t Au from 94 metres in hole 20GSYSAC0214 and 4 metres @ 0.10g/t Au from 32 metres in hole 20GSYSAC0215. Target 2: A single east-west traverse was drilled at Target 2A between existing traverses drilled during phase 1. Twelve holes (20GSYSAC0277-288) were drilled for a total advance of 722 metres. Additional end of hole (`EOH') arsenic anomalies were recorded which will aid 2021 target vectoring. Three east-west traverses were drilled at Target 2B focussing on a high strain zone between two granite contact zones. Fourteen holes (20GSYSAC0263-276) were drilled for a total advance of 859 metres. Field logging recorded bedrock geology consisting of mafic units between granitic rocks. No significant gold intersections were encountered in these traverses, however multiple EOH +50ppm arsenic anomalies were recorded including 1 metre @ 666 ppm from 40 meters in hole 20GSYSAC0273. Target 3: Six additional traverses on various orientations were drilled at Target 3A around existing traverses drilled during phase 1. Thirty-six holes (20GSYSAC0221-238, 20GSYSAC0245-262) for a total advance of 2,159 metres. Field logging recorded bedrock geology consistent with phase 1 drilling. The best gold intersection was encountered in hole 20GSYSAC0226 with 4 metres @ 50ppb from 50 metres. Target 4: Six holes (20GSYSAC0289-294) were drilled on two east north-east traverses at this target for a total advance of 602 metres. Four holes were drilled on the eastern traverse extending a traverse drilled in phase 1 drilling. Subtle, elevated intersections were recorded in20GSYSAC0291 (12 metre interval of elevated +30ppb gold from 36 metres) and a +50ppm end of hole arsenic anomaly from 155 metres. Another low-level interval was recorded in hole 20GSYSAC0293 (48 metre interval of elevated gold +10ppb encountered from 69 metres including 4 metres @ 55ppb from 85 metres). Target 6: An interpreted structural intersection of north and north-west trending contact zones was targeted in this area along strike of the promising indicators from Target 5 drilled from the Phase 1 program. Five holes (20GSYSAC0295-299) were drilled here for a total of advance of 488 metres on an east north-east trending single traverse. Field logging recorded bedrock geology consisting of mainly metasedimentary sequence with some possible minor mafic units. No significant gold intersections were encountered at this target although multiple intervals of elevated +10ppb gold were recorded including one twelve metre interval in hole 20GSYSAC0296.