Middle Island Resources Limited (ASX: MDI or 'Middle Island') is pleased to update shareholders on our Barkly Super-Project exploration programme which has progressed well.

The work is targeting prospective areas for IOCG and Sediment Hosted Cu-Zn-Pb-Ag deposits at Tennant Creek and Barkly. The Company's exploration holdings in the region covers some 6,918 sq kms.

Modelling of detailed gravity survey data collected or collated across priority targets identified in 2023 has been completed. The modelling has established well-defined density anomalies ('shoots') that are consistent with the densities, size, and geometries of known examples of the target deposit types. Six areas have advanced to Prospect status, with well-defined drill targets. Eight new high priority drill targets have been identified in the project drill schedule. A total of 14 conceptual exploration drillholes have been planned.

The new drill targets are 'blind' beneath post-mineralisation cover and, as such, each and every one presents an opportunity for a significant new discovery. Target depths range from 230m - 550m. A summary of the targets is provided in Appendix 1. Priority focused drilling plans are being finalised for the 2024 field season. Initial drilling will focus on shallower targets. Commenting on the Company's exploration programme, MDI Chief Executive Officer, Roland Bartsch said: ''Ultimately new mineral discoveries are made through drilling. We have systematically developed robust drill targets in an underexplored district where the opportunities have been hidden by cover.

It's exciting to be at a point to start delivering drill hole plans. That said, the targets outlined here are just a start. It's a large project and other equally significant targets are in the pipeline with more likely to be identified and worked up. The systematic approach adopted is integral to MDI's exploration strategy to add value through growth of scientific understanding and concepts, which in turn is directed at securing adequate funding to enable resources and future drilling to be focused not only on the perceived top targets, but to ensure prospects are not abandoned prematurely in the face of the many disappointments typical in exploration. This approach is directed at maximising the potential for exploration drilling success.'

Contact:

Tel: +61 (8) 9322 1430

Email: info@middleisland.com.au

Web: www.middleisland.com.au

Forward Looking Statements

Statements contained in this release, particularly those regarding possible or assumed future performance, costs, dividends, production levels or rates, prices, resources, reserves or potential growth of Middle Island, industry growth or other trend projections are, or may be, forward looking statements. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. Actual results and developments may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors

Competent Persons Statement

The information in this report that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Roland Bartsch, BSc(Hons), MSc, MAIG. Mr Bartsch is a fulltime employee of the Company and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being 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'. Mr Bartsch 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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