Miramar Resources Limited announced that it has received the final processed data for the detailed aeromagnetic and radiometric survey recently flown over the Company's 100%-owned Dooley Downs Project, in the Gascoyne region of Western Australia. Dooley Downs is located within the Capricorn Orogen, which hosts the Yangibana REE Project and recent REE discoveries including by Dreadnought Resources Ltd. and Lanthanein Resources Ltd. The magnetic and radiometric survey has identified several large magnetic and/or radiometric anomalies over a strike length of approximately 35km, highlighting the potential for multiple unmapped intrusions, including carbonatites capable of hosting rare earth element (REE) mineralisation. Magnetic/Radiometric Survey: In late 2022, the Company commissioned a detailed airborne magnetic and radiometric survey across the Dooley Downs Exploration Licence, E09/2484, which highlighted a number of magnetic and/or radiometric features resembling igneous intrusions within the Edmund Basin.

A number of ovoid magnetic features, ranging in size from 600m x 600m to 6km x 2km, have been identified in the central and southeastern part of the Project. The largest of the magnetic anomalies had previously been mapped as an anticline within sediments of the Edmund Basin, however the new magnetic data, along with a large radiometric anomaly, suggests the presence of a buried intrusion. A number of smaller radiometric anomalies are seen in the southeast of the Project and are located within and/or on the margin of the intrusions interpreted from the magnetic data.

A high priority target has been identified where the strongest of the smaller radiometric anomalies is located over a circular magnetic low approxiately 800m across. The new "Eden Bore" target appears to have the "classic" carbonatite signature consisting of a central magnetic low, coincident with a Uranium and/or Thorium anomaly, surrounded by Potassium anomalism potentially related to peripheral fenite alteration. 2023 Bangemall work programmes: Miramar is planning to conduct further work at Dooley Downs in 2023, including more detailed ground geophysics and/or geochemical surveys with the aim of defining drill targets for testing.

The Company completed a follow-up reconnaissance fieldtrip in late 2022 and has secured the ground immediately to the southeast with an Exploration Licence application, E08/2647. Given the high-quality data produced from this survey, Miramar plans to fly similar detailed magnetic and radiometric surveys over its other Bangemall Project tenements once granted. The Company is also planning mapping and sampling over the Mount Vernon target during 2023, with the aim of identifying Ni-Cu-PGE mineralisation associated with Proterozoic dolerite dykes and sills.