Great Northern Minerals : Diamond Drilling Confirms Depth Extensions

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ASX ANNOUNCMENT

8 February 2022

Camel Creek drilling intercepts high-grade gold & antimony

Highlights:

• High grade gold-antimony mineralisation intersected in Camel Creek diamond drilling program
• Drill results extend high-gradegold-silver-antimony Hinge Zone, which is open at depth
• CCRCD81 returned the following intercepts:
• • 7.0m @ 2.4 g/t Au & 0.5% Sb from 222m down-hole inc. 2.0m @ 7.8 g/t Au & 1.3% Sb from 227m down-hole; and
  • 12.0m @ 2.4 g/t Au & 0.1% Sb from 241m down-hole inc. 1.0m @ 19.6 g/t Au, 5 g/t Ag & 1.6% Sb from 252m down-hole
• Results will be included in Camel Creek Mineral Resource Estimate which is expected to be completed by end of the current quarter

Great Northern Minerals Limited ("GNM" or the "Company") (ASX: GNM) is pleased to announce diamond drilling results from the Golden Camel deposit at the Golden Ant Project in Far North Queensland.

All four holes intersected gold-silver-antimony mineralisation, with CCRCD81 confirming the high-gradegold-silver-antimony Hinge Zone is open at depth. The results of the drilling will be used in the estimate of the initial Camel Creek Mineral Resource and to plan the next round of drilling. The Mineral Resource Estimate (MRE) will be completed by end of the current quarter.

The completion of the Camel Creek MRE will complete the initial phase of resource estimates for the Golden Ant Project (Camel Creek, Golden Cup and Big Rush) advancing the Golden Ant scoping study.

GNM CEO & Managing Director, Cameron McLean said: "The Camel Creek drilling results are encouraging and further add to the overall resource base. The high-grade gold-silver-antimonymineralisation intersected in the Hinge Zone is open at depth and demonstrates the potential for an underground mining operation at Camel Creek.

The presence of high-grade antimony mineralisation at Camel Creek is significant in that antimony holds Critical Mineral status with both US and Australian governments as well as potentially enhancing the economics of the project. The drilling information will be used in the initial Camel Creek Mineral Resource Estimate which will be completed by end of the March quarter, 2022".

Great Northern Minerals Limited	T: +618 6214	0148
ABN 22 000 002 111	Level 1, 33 Colin Street
www.greatnorthernminerals.com.au	West Perth, WA	6005
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1. Camel Creek Diamond Drilling Results

GNM has received the following material assay results for a recently completed diamond drilling program at the Camel Creek deposit. A total of 484m of HQ diameter diamond drilling was completed with 508 metres of RC (reverse circulation) pre collars (refer to ASX release "Camel Creek Diamond Drilling Update" dated 30 November 2021) for further details.

Table 1 Camel Creek Diamond Drilling Program - Material Intersections

Hole	From	To	Intercept	Au g/t	Ag g/t	Sb %
CCRCD55A	145.0	146.0	1.0	4.2	nm	nm
and	151	152	1.0	2.2	1	0.6%
CCRCD81	222.0	229.0	7.0	2.4	1	0.5%
inc	227.0	229.0	2.0	7.8	1	1.3%
and	241.0	253.0	12.0	2.4	2	0.1%
inc	252.0	253.0	1.0	19.6	5	1.6%
CCRCD91	252.0	253.0	1.0	2.5	2	nm
CCRCD92	164.0	165.0	1.0	3.6	2	0.2%
and	193.0	194.0	1.0	4.6	nm	nm

nm - assay below 0.5 g/t Ag and 0.1% Sb

True width is estimated to be approximately 2/3 of intersection width

All holes intersected mineralisation, with a highlight being the mineralisation intersected in CCRCD81, with broad mineralised zones containing higher grade gold-silver-antimony rich veining.

The results from the diamond drilling will be used in the estimation of an initial Mineral Resource for the Camel Creek deposit, which is expected to be completed by the end of the current quarter (quarter ending 31 March 2022).

The results from the drilling will be used in planning the next round of drilling at Camel Creek, in particular to target the high-grade Hinge Zone which remains open at depth.

Great Northern Minerals Limited	T: +618 6214	0148
ABN 22 000 002 111	Level 1, 33 Colin Street
www.greatnorthernminerals.com.au	West Perth, WA	6005
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Figure 1 Camel Creek Long Section (Recent Diamond Drilling & High-Grade Hinge Zone)

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2. Camel Creek Hinge Zone

GNM's drilling to date has defined a high-grade plunging mineralisation shoot (Hinge Zone) which is open at depth. The Hinge Zone mineralisation consists of high-gradegold-silver-antimony mineralisation and material (> 50 gm metre Au) intersections are listed in Table 2.

The Hinge Zone represents an exceptional UG target - with high grade to bonanza grade mineralisation consistently intersected over mineable widths. High high-gradegold-silver-antimony mineralisation has been intersected to date in multiple holes - with CCRC50 returning 3m @ 67.7 g/t Au, 15 g/t Ag and 11.2% Sb from 191.0m down hole.

Table 2 Camel Creek Hinge Zone - Material Intersections (> 50 gm metre Au)

Hole ID	From (m)	To (m)	Down Hole Intersection (m)	Au (g/t)	Ag (g/t)	Sb (%)
CCAC10	54.0	64.0	10.0	6.6	*	*
inc	60.0	64.0	4.0	14.6	*	*
CCRC12	58.0	79.0	21.0	3.7	1	1.2%
inc	58.0	61.0	3.0	9.6	1	5.3%
CCRC50	155.0	213.0	58.0	5.9	2	0.7%
inc	191.0	194.0	3.0	67.7	15	11.2%
inc	191.0	192.0	1.0	153.9	31	10.4%
CCRC51	164.0	196.0	32.0	2.6	2	0.2%
inc	164.0	171.0	7.0	5.8	4	0.7%
CCRC52	126.0	160.0	34.0	2.5	2	0.1%
inc	154.0	158.0	4.0	6.8	3	0.8%
CCRC54	154.0	176.0	22.0	7.4	10	0.8%
inc	162.0	169.0	7.0	16.6	23	2.1%
CCRC63	193.0	227.0	34.0	1.8	4	0.2%
inc	220.0	223.0	3.0	10.8	33	1.6%
CCRC86	125.0	129.0	4.0	29.1	5	0.9%
inc	127.0	128.0	1.0	105.5	17	0.6%

True width is estimated to be approximately 2/3 of intersection width *Au assays only available for CCAC10

Great Northern Minerals Limited	T: +618 6214	0148
ABN 22 000 002 111	Level 1, 33 Colin Street
www.greatnorthernminerals.com.au	West Perth, WA	6005
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3. Camel Creek & Golden Ant Project

Camel Creek is the major mining centre in the Amanda Bell Goldfield, which covers an area of approx. 1,000 km2 in Far North Queensland. Gold bearing oxide ore has been mined from open pits on eight deposits and these plus other smaller pits all have material primary sulphide mineralisation remaining, many of them with significant antimony mineralisation in addition to the gold.

Total gold production from the Amanda Bell Goldfield was approximately 95,000 oz Au (57,000 oz from Camel Creek and 14,000 oz from Camel Creek satellite deposits plus 18,000 oz from Golden Cup and 6,000 oz from Golden Cup satellite deposits). Mining activities commenced in 1989 and ceased in 1995 with the depletion of oxide gold mineralisation.

At the Camel Creek deposit there were 28 pits mined over 5,000 metres of strike length for >1 million tonnes mined at an average grade of 1.7 g/t Au. The heap leach pads contain a significant amount of relic auriferous oxide & sulphide ores.

Figure 2 Camel Creek Plan

Great Northern Minerals Limited	T: +618 6214	0148
ABN 22 000 002 111	Level 1, 33 Colin Street
www.greatnorthernminerals.com.au	West Perth, WA	6005
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