Noronex Limited provide an update on the exploration of its suite of copper projects in Namibia. Highlights: Exploration has recommenced in Namibia with two drill rigs continuing at the Witvlei Project and the IP recommencing on the Snowball JV; Over 10,000m of the 12,000m planned drill program has now been completed with four further holes to finish at the Okasewa prospect and ten holes planned at the Dalheim prospect; Results from just the first nine of the twenty-two holes completed at Gembocksvlei have been received with intercepts confirming the geochemical anomalies. This program was extended due to visual Copper indications.

Results have been slower than expected over the festive season. Intercepts received to date include: 5m @ 0.8 % Cu from 98m in 21GERC002; 2m @ 1.2 % Cu from 25m in 21GERC005; 16m @ 0.4 % Cu from 27m in 21GERC006. IP Surveying from the first line at the Kehora North prospect on the Snowball Joint Venture area defined a chargeable anomaly with further lines now underway.

This new anomaly adds to the prospective IP anomaly identified at the Hennep prospect last month. Drilling is planned at Snowball to test these IP anomalies this month. Witvlei Drilling: Drilling has recommenced after the festive break and the recent COVID outbreak with two rigs and over 10,000m of the 12,000m program now completed.

Twenty-two holes have been completed so far at Okasewa and four further holes are planned, results are all pending. The plan is to continue testing the highly ranked priority targets with a rig moving to the eastern Witvlei tenement to test sub-cropping copper at Dalheim with a two-kilometre strike extent. Diamond drilling is expected to follow up on these regional RC hole fences to define the style and character of the geology and mineralisation.

Gembocksvlei: Results from nine of the twenty-two holes completed have been received from Gembocksvlei with intercepts confirming the geochemical anomalies. Intercepts so far returned include: 5m @ 0.8 % Cu from 98m in 21GERC002; 2m @ 1.2 % Cu from 25m in 21GERC005; 16m @ 0.4 % Cu from 27m in 21GERC006. The holes intersected the Eskadron Formation containing brown siltstone and interbedded sandstones with debris flow.

Minor malachite staining was intercepted down to approximately 15m vertically with fine pyrite, chalcopyrite and chalcocite developed in the siltstone horizons below. The southwestern anomalies have so far reported the best intercepts in holes 21GERC002, 21GERC005 and 21GERC006. These anomalies were testing the higher Copper soil geochemistry and follow up holes were completed to test the extent of the mineralisation with results pending.

Samples have been collected in 3m composites and at 1m intervals where mineralisation was visually noted. Samples were prepared in the ALS sample preparation facility in Namibia and assayed at their laboratory in South Africa. Assay results reporting has slowed down significantly as COVID has affected the laboratories turnaround.

The program was extended due to visual Copper indications with a total of twenty-two holes drilled for 4,278m. Further results are expected in the coming weeks.