Kalgoorlie Gold Mining ('KalGold' or 'the Company') to provide an update on exploration activities and planned drill programs at La Mascotte, within the Company's lead Bulong Taurus Project 35km to the east of Kalgoorlie-Boulder. At the La Mascotte prospect, historic drilling defined some of the higher grades in some of the deepest drillholes. These holes, however, were still relatively shallow, penetrating only to around 120m vertically below surface.

These high-grade zones are open to the west and northwest, which the Company's structural interrogation shows is the gold mineralisation's likely plunge direction. This orientation parallels regional-scale structures and, in some cases, controls sulphide mineralisation distributions associated with gold on the drill core scale. KalGold is finalising a series of RC drill holes to test for down-dip continuity of this high-grade gold mineralisation.

Around 3 drill holes for 600 metres will be drilled as a first-pass effort. Successful intersection of high-grade gold mineralisation will confirm that mineralisation is open down-dip at La Mascotte enabling the Company to follow gold mineralisation to depth with subsequent drill programs. Independent resource modelling expert Modelling Matters Pty Ltd. (Modelling Matters) is currently assessing historic drill data from previous exploration at La Mascotte. Initial assessment indicates that historic RC and diamond drilling (158 drill holes for 13,408 metres) is suitable for inclusion into future mineral resource estimates reported in accordance with the JORC Code (2012).

This marks a significant milestone for KalGold as it means that previous exploration data can be incorporated into modelling, saving the Company both time and costs associated with repeat drilling. Redrilling and assaying historic holes would likely cost the Company several million dollars. Instead, KalGold can use its funds to further progress its lead Bulong Taurus project.

At most, a few confirmatory drill holes could be required if additional certainty is needed for specific areas of the La Mascotte system. KalGold has worked systematically at La Mascotte to expand the prospect's potential. By enlarging La Mascotte's mineralisation footprint, first along strike and now down-dip, this systematic approach is proving to be a cost-effective way to define and assess the prospect's potential.

Three-dimensional modelling at La Mascotte Modelling Matters is well advanced defining the three-dimensional geometry of the La Mascotte gold system. As structural analysis indicates, the dip of gold mineralisation is around 20-30° to the west. Multiple mineralised lodes define a thick, sheeted complex, with continuity established over the full 700m drilled to date.

Broad, open folding evident from the modelling is consistent with observations and corresponds to well-mineralised areas. Importantly, with multiple stacked mineralised lodes evident, in some areas, over 100m thickness, there is potential for higher ounces per vertical metre compared to a single lode style of deposit. KalGold expects the results of the upcoming limited RC program testing for a down-dip high-grade zone to be incorporated into modelling once results are received.

The Knockhill discovery comprised several intercepts from shallow depth to the west of the inferred position of the Goddard Fault. At Royal Star, detailed interrogation of the local geology suggests that a previously unrecognised north-south trending structure may exert some control over mineralisation. Both prospects are being assessed for follow up RC drilling as part of the September program.

Work is also underway on KalGold project areas located along southern parts of the Keith-Kilkenny Tectonic Zone (KKTZ) and Laverton Tectonic Zone (LTZ). These projects are in very prospective ground, which is currently the focus of several major gold producers and prominent junior explorers. Pinjin gold project - KalGold's Pinjin project comprises one granted exploration licence (E31/1119) and two applications (E28/3134 & E31/1326) within the highly prospective southern portion of the Laverton Tectonic Zone.

The area is presently receiving attention from companies such as Ramelius Resources, Northern Star Resources, Fortescue Metals Group, and OzAurum Resources. Granted tenure and applications at Pinjin are located along strike from Ramelius's Rebecca Gold Project, where they intend to establish a processing centre in the coming years (RMS, Diggers and Dealers presentation, 2022). KalGold's application (E28/3134) is located along the LTZ only 20km north, between Rebecca and the historic Pinjin mining centre, and Hawthorn Resources' Anglo Saxon (Trouser Leg) project.

It also lies less than 2km east of the historic Kirgella gold prospect. KalGold's granted E31/1119 measures roughly 39km north-south by up to 6.5km east-west. In the north it incorporates the sheared, mineralised supracrustal sequences within the LTZ and the Celia Tectonic Zone.

It also incorporates most of the Jungle Dam granite, a mineralised internal granite wrapped and deformed by these major shear zones. In the very north OzAurum's Patricia project abuts E31/1119 and KalGold's smaller E31/1326 pending application. First-pass field reconnaissance programs are now underway, in concert with historic data compilation.

Several conceptual gold targets are expected to be checked for first-pass indicators of mineralisation. The Lake Rebecca project is located 115 km northeast of Kalgoorlie. The area is of great interest as it is located on the Keith-Kilkenny Tectonic Zone along strike from Northern Star's Carosue Dam Operations, the Mulgabbie gold mining centre, OzAurum's Mulgabbie North gold project, and Nexus Mineral's Wallbrook gold project.

Northern Star's and OzAurum's tenement holdings and applications wrap entirely around KalGold's tenure at Lake Rebecca. The project tenure has historically had a nickel laterite focus, with limited systematic exploration for gold. Mining Corporation of Australia (MCA) held this ground in the mid-1990s and completed wide spaced RAB and limited RC drilling for gold along the sheared western contact of the ultramafic sequence, with some encouraging results worthy of follow up.

Much of this historic drilling has never been assayed for gold, presenting an opportunity for KalGold to make a gold discovery in a highly prospective area. Perrinvale gold project - The Perrinvale gold project, located 80 km west of Leonora, will be the subject of an Aboriginal heritage survey over the next month with the consulting anthropologist expected to commence work in the next couple of days.