Manhattan : March 2022 Quarter Activities Report and Appendix 5B

ASX / MEDIA RELEASE 26 April 2022

For personal use only

MARCH 2022 QUARTER ACTIVITIES REPORT

Manhattan Corporation Limited (ASX: MHC)(Manhattan or the Company) is pleased to report on activities undertaken in the March 2022 quarter and its financial position at the end of the period.

HIGHLIGHTS

• ▪ MHC continued to advance its New Bendigo Gold Prospect during the quarter, completing a total of 32 holes (NB0093-124) for 4,241 metres over two tranches. In addition, MHC commenced RC drilling on a further four targets within its 100% held northern Gold Corridor that extends for over ~25km.

• ▪ This included New Bendigo "South" (~600m south of "Main Zone"), Silverton, Pioneer and Jeffery's Flat (~6km north of Pioneer)

• ▪ Results were returned during the quarter from the first tranche of fourteen (14) Reverse Circulation Drill (RC) Holes (NB0093-0106) and one diamond precollar (NB0107) for 1,795 metres completed on the New Bendigo "Main Zone" intersected significant shallow gold mineralisation in all holes, returning:

  • ▪ 63m at 1.33 g/t Au from 24m (NB0105), including

    • • 14m at 4.77 g/t Au from 52m, or

    • • 9m at 7.22 g/t Au from 56m, and

    • • 1m at 10.30 g/t Au from 76m

  • ▪ 17m at 1.13 g/t Au from 4m (NB0093), including

    • • 4m at 2.42 g/t Au from 6m

  • ▪ 3m at 4.51 g/t Au from 9m, (NB0106) and

    • • 2m at 3.90 g/t Au from 126m

  • ▪ 2m at 3.18 g/t Au from 82m (NB0098)

  • ▪ 2m at 4.08 g/t Au from 84m (NB0102)

  • ▪ 24m at 0.52 g/t Au from 47m (NB0090), including

    • • 9m at 1.06 g/t Au from 58m

Manhattan Corporation Limited

P: [phone]www.manhattcorp.com.auABN: 61 123 156 089

Level 2, 33 Colin Street, West Perth WA |1 6005

• ▪ MHC completed a further seventeen (17) RC Holes (NB0108-0124) for 2,446 metres at New Bendigo, with drilling expanded to test four additional exploration targets, including:

  For personal use only

  • ▪ New Bendigo South: Located ~ 600m along strike to the south of the "Main Zone" where scout drilling in2021 returned 12m at 1.14 g/t from surface in Aircore (NBAC0103), intersecting a potentially new zone of gold mineralisation

  • ▪ Silverton: Located ~ 2,400m south of the "Main Zone" (along strike) where scout Aircore drilling in 2021 returned 4m at 0.59 and 3m at 0.5 g/t Au (NBAC0059)

  • ▪ Pioneer and Phoenix - located ~18km north of the "Main Zone", Pioneer and Phoenix hosts historical gold workings over 5km of strike and was home to a historic gold stamping battery (Pioneer), where limited historic drilling returned 3m at 4.89 (AWNPN02A) and 2m at 14.72 (TP003A) g/t

  • ▪ Jefferey's Flat: Located ~ 1,800 metres to the north of the Pioneer Mine, Jeffery's Flat hosts historic workings

• ▪ Assay results from NB00109-124 and the additional targets are pending.

• ▪ Results from New Bendigo continued to support the interpretation of shallow north plunging high-grade shoots within a broader gold mineralised NNW trending regional shear "Mineralised Footprint".

Corporate

• ▪ Cash reserves of $2.9 million on 31 March 2022.

  Tibooburra Gold Project

  The Tibooburra Gold Project comprises a land package (~2,200 km2) that covers ~220km of significantly under explored gold mineralised strike of deep-seated gold bearing structures associated with the Koonenberry and New Bendigo Regional Fault Structures within MHC's 100% controlled tenure.

Manhattan Corporation Limited

P: [phone]www.manhattcorp.com.auABN: 61 123 156 089

Level 2, 33 Colin Street, West Perth WA |2 6005

For personal use only

Figure 1: Tibooburra Project - Northern Target Areas (TMI RTP 1VD Grey Scale Aeromagnetic Image Background)

Manhattan Corporation Limited

P: [phone]www.manhattcorp.com.auABN: 61 123 156 089

Level 2, 33 Colin Street, West Perth WA |3 6005

RC Drilling - New Bendigo

For personal use only

During the quarter MHC reported results from the first fourteen (14) Reverse Circulation Drill (RC) Holes (NB0093-0106) and one diamond precollar (NB0107) for 1,795 metres completed on the high-grade New

Bendigo "Main Zone" which lies within a 25km gold mineralised strike in the northern part of the

Tibooburra Gold Project.

Drilling targeted additional mineralisation and the north plunging shoots along the "Main Zone" corridor, a NNW trending gold mineralised shear system that extends for over 650 metres of strike that is located within an under explored elongated >5km long soil anomaly where historic workings extend over at least 1.5 km of strike.

Drilling continued to successfully intersect significant shallow gold mineralisation within the corridor, often from or near surface. Further high-grade mineralised zones are thought to form two separate north plunging shoots located to the north and south of a cross-cutting fault. Drilling will continue to test the extents of the "Main Zone" mineralised system which has the potential to host a significant shallow, high-grade gold resource.

Drilling returned significant mineralisation, including:

▪

63m at 1.33 g/t Au from 24m (NB0105), including

• • 14m at 4.77 g/t Au from 52m, or

• • 9m at 7.22 g/t Au from 56m and

  ▪

• • 1m at 10.30 g/t Au from 76m 17m at 1.13 g/t Au from 4m (NB0093), including

▪

• • 4m at 2.42 g/t Au from 6m 3m at 4.51 g/t Au from 9m, (NB0106) and

▪

▪

• • 2m at 3.90 g/t Au from 126m 2m at 3.18 g/t Au from 82m (NB0098) 2m at 4.08 g/t Au from 84m (NB0102)

▪

24m at 0.52 g/t Au from 47m (NB0094), including

▪

• • 9m at 1.06 from 58m 150m at 0.27 g/t Au from Surface, including

• • 3m at 4.51 from 9m (NB0106)

▪

6m at 1.93 g/t Au from 12m (NB0090)

This is in addition to the recently reported results from drilling completed in 2021, that included:

▪

▪

▪

▪

8m at 40.5 g/t Au from 70m, including 3m at 105.34 g/t Au (NB0089) 16m at 13.89 g/t Au from 1m, including 3m at 69.20 g/t Au (NB0083) 7m at 2.89 g/t Au from 56m, including 1m at 15.45 g/t Au (NB0088) 30m at 4.03 g/t Au from 11m, including 5m at 20.86 g/t Au (NB0033)

Manhattan Corporation Limited

P: [phone]www.manhattcorp.com.au

ABN: 61 123 156 089

Level 2, 33 Colin Street, West Perth WA |4 6005

Further to the high-grade central zone and the interpreted plunging shoots, drilling again successfully expanded the mineralised footprint within the broader gold mineralised halo of the NNW trending regional shear with all RC holes reporting significant mineralisation (Table 1).

For personal use only

Figure 2: New Bendigo Drill Hole Collar Plan showing recent RC drill holes in relation to previous drilling. Drill traces are projected to surface. Note the fault is inferred and further drilling is required to delineate mineralisation proximal to the fault New Bendigo. Recent highlighted intersections are shown as yellow callouts.

Manhattan Corporation Limited

P: [phone]www.manhattcorp.com.auABN: 61 123 156 089

Level 2, 33 Colin Street, West Perth WA |5 6005