New Age Exploration announced an update for the Company's Exploration activities on the Lammerlaw Gold Project in Otago, New Zealand. Newly re-processed legacy geophysical data has been acquired for all NAE Otago permits. The resulting new imagery has had an immediate impact, highlighted areas of interest and confirming targeting methodologies.

Ongoing field campaigns within Lammerlaw Exploration Permit EP60807 have produced encouraging pXRF arsenic results from additional auger, float and rock chip sampling. New sampling extends arsenic- gold geochemical trends delineated by field campaigns carried out in November 2020 and February 2021. Gold assays for samples collected in May 2022 have been submitted and are currently being processed.

An application submitted to New Zealand Petroleum & Minerals for an Extension of Duration (EoD) for Lammerlaw Prospecting Permit PP60544 has been granted, this allows continued surface exploration until 26 November 2023. Proven targeting methodologies will continue to be extended for along a ~25km prospective structural corridor held under Lammerlaw Prospecting Permit PP60544 and Lammerlaw Exploration Permit EP60807. The Central Otago Schist Belt has a proven gold endowment highlighted by Santana Minerals Limited recent discoveries at the Bendigo-Ophir Gold Project as well the World Class Macraes Gold Mine, owned and operated by Oceana Gold.

NAE considers its Lammerlaw Project to potentially host structurally controlled orogenic gold mineralisation similar to the bulk tonnage Macraes and Bendigo-Ophir deposits, as well as high-grade quartz lode gold systems seen elsewhere in the Otago.