Native Mineral Resources Holdings Limited reported that the complete set of gold assays for diamond drill hole MPD003 have now been received from ALS Global, and all assays are now finalised for the Company's Maneater Hill polymetallic sulphide breccia Prospect in North Queensland. NMR reported that the latest gold assays have further highlighted the significant gold mineralisation contained within the polymetallic hydrothermal breccia. Importantly, results from MPDOO3 considerably improve NMR's understanding of the sub-surface shape of the target breccia and demonstrate the high-grade gold mineralisation located at the base of the Maneater Hill breccia, but above ground level.

Accordingly, NMR will be completing geophysical surveying prior to planning the next phase of drilling to constrain the interpreted sub-surface tilt of the sulphide zone. It should be noted that MPD002 was terminated before reaching its target depth due to technical issues (refer to ASX announcement 12 December 2022) and that MPD003 was drilled at a shallower dip to MPD002, to confirm the interpreted >500m lateral continuation of the breccia inferred from surface mapping. Drill hole MPD003 was completed at the end of November 2022 with a total depth of 543.3m.

The drill hole was terminated once the sulphide content dropped due to the drill hole entering a zone dominated by low-grade meta- sandstones. The grade at the end of the hole remains relatively high with a 40m section near the end of the hole (500m-540m) averaging 0.33% Zn, and NMR consider the hole to be open at depth. It should be noted that while MPD003 is collared at 705mRL, a significant part of the hole is in the Maneater Hill and the mineralised section at the hill is located at a depth comparable to the plain below the hill.

Note that the access track shown in green in Figure 1, continues further down into the valley allowing potential access to any mineralisation via underground or open pit mining methods. The host rocks surrounding the main mineralised breccia complex at Maneater exhibit varying degrees hydrothermally altered sandstones and mudstones. The low-grade metamorphosed sandstones are relatively homogeneous in drill core, but the mudstones are heavily brecciated and contain the majority of sulphides and other associated infill minerals including, but not limited to, wollastonite and quartz.

The timing of the brecciation relative to hydrothermal alteration and multi-phase mineralisation is still being unravelled, however, a general characteristic of the mineralised breccia pipe is the preference for sulphides, particularly massive and semi-massive zones of pyrite and sphalerite to form within the brecciated mudstones. The additional gold assay results obtained for MPD003, add to the confidence in the interpreted metal zoning model for the Maneater Breccia. Based on all of the results obtained so far, NMR is confident that future drilling will be able to target the inferred higher-grade (Au, Cu) core of the system.

Prior to any future drilling, the company is considering completing a geophysical survey over the breccia pipe in order to help better identify the lateral size of the breccia as well as the trend of the breccia at depth.