Great Boulder Resources ('Great Boulder' or the 'Company') (ASX: GBR) is pleased to announce assay results from the first eight holes of a 41-hole Phase 5 RC program at Mulga Bill, within the Side Well Gold Project ('Side Well') near Meekatharra in Western Australia.

Highlights from the drilling include: 9m @ 21.21g/t Au from 207m in 21MBRC062, including 4m @ 40.68g/t Au from 210m

6m @ 5.99g/t Au from 88m in 21MBRC061, including 1m @ 28.48g/t Au from 92m

21m @ 2.96g/t Au from 76m in 21MBRC093, including 14m @ 4.25g/t Au from 80m

13m @ 1.89g/t Au from 86m in 21MBRC060, including 2m @ 9.14g/t Au from 91m.

Great Boulder's Managing Director, Andrew Paterson commented: 'This is a fantastic start to the year for Mulga Bill, with more cracking grades in the central area where we have previously intersected zones up to 14m @ 36.12g/t.' 'The subvertical interpretation on the high-grade zone in hole 062 is interesting, and it highlights the fact that we learn more about this deposit with every hole.' 'Further to the south we drilled three holes over the geophysical target. It was great to see thick zones of disseminated pyrite in all three holes, highlighting the width of the system. The assays show zones of low to medium-grade gold mineralisation, with a maximum assay value of 5.91g/t from 161m in 21MBRC095. This result gives us confidence to drill a deep diamond tail through the centre of the geophysical target when we have a rig on site next month.'

The intersection in hole 21MBRC062 appears to correlate with a sub-vertical mineralised structure logged in a nearby diamond hole last year, which means this high-grade zone is on a different orientation to other flat-lying high-grade veins nearby. The high-grade nature of this mineralisation is important as it represents one of the best intersections within fresh rock within this area of drilling.

As drilling continues, it is becoming clear that the depletion layer has a variable effect in mineralisation, which explains why quartz lodes sitting close to this depth in adjacent holes have displayed variable levels of gold mineralisation.

The results include three holes that were drilled in a fence across the top of a geophysical anomaly identified in work completed by GBR last year, where a conductive feature coincides with the gravity high that appears to map the position of mineralisation further north within Mulga Bill. The holes were analysed by photon assay in order to achieve the fastest possible assay turnaround. All three holes intersected broad zones of disseminated pyrite containing zones of low to medium-grade gold mineralisation.

Critically the zone of gold and pyrite mineralisation lie directly above the modelled gravity body. A diamond tail is planned to test through the center of the anomaly during the next diamond drill campaign. 21MBRC093 intersected strong mineralisation to the east of the main mineralised trend at Mulga Bill. Quartz veining was observed within the RC chips for this interval. Although this mineralisation is high in the regolith profile and therefore subject to some supergene enrichment, it is most likely related to a primary structure. Further drilling will be undertaken to ascertain whether this represents an offset of the main Mulga Bill structure or a completely new structure.

Contact:

Lucas Robinson

Tel: +61 408 228 889

Email: lucas@corporatestorytime.com

Web: www.greatboulder.com.au

About Great Boulder Resources

Great Boulder is a mineral exploration company with a portfolio of highly prospective gold and base metals assets ranging from greenfields through to advanced exploration located in Western Australia. The Company's core focus is advancing the Whiteheads and Side Well gold projects while progressing initial exploration at the earlier stage Wellington Base Metal Project located in an emerging MVT province. With a portfolio of highly prospective assets plus the backing of a strong technical team, the Company is well positioned for future success.

COMPETENT PERSON'S STATEMENT

Exploration information in this Announcement is based upon work undertaken by Mr Andrew Paterson who is a Member of the Australasian Institute of Geoscientists (AIG). Mr Paterson has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a 'Competent Person' as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' (JORC Code). Mr Paterson is an employee of Great Boulder Resources and consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.

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