Pursuit Minerals Limited provided a Warrior Project exploration update on activities at Calingiri East, Calingiri West, Bindi Bindi and Wubin Projects. STRATEGIC SAMPLE PURCHASE: Following on from the strategic purchase of historic Dominion/Quadrio RC and AC drilling samples from Caravel Minerals in July, the Company has now secured up to 1,553 auger samples with existing sample database from Caravel for $5 per sample. The samples cover a large section of the Calingiri East tenement north of Ablett which has never been explored for Ni-Cu PGE's or REE minerals.

Most samples were only analysed for Au, Cu and Pb and the purchase allows Pursuit to understand the detailed geochemistry of the area without negotiating access agreements first. Once samples are received and assayed, the results will enhance understanding of mineralisation at Calingiri East which will flow into 2023 AC drilling programs. REE RE-SAMPLING: Pursuit geologists have identified and re-submitted 134 high priority samples from the 2022 auger and AC drill campaigns for broad REE suite re-assay. Results are expected within 2-3 weeks.

PHIL'S HILL 3D MODEL: All available geological, geophysical and drilling data has been synthesised by Pursuit geologists to create a 3D model to aid targeting new areas of higher-grade mineralisation at the prospect. The process has highlighted the role of a prominent NE-SW trending fault crossing close to the southern diamond holes at Phil's Hill where downhole EM (DHEM) confirmed multiple conductive plates in a `Christmas tree' pattern that could be related to a sulphide stockwork. Cross-cutting faults such as this can cause local dislocation and brecciation, opening pore space for fluids to occupy and potentially deposit mineralisation.

Planned forthcoming AC drilling will target this area for bedrock sulphide mineralisation. Ablett: The Company is currently finalising an AC drilling program over Ablett to explore beneath and extend BOH gold and REE anomalism. The Program is anticipated to be ~80 holes and covers the areas in red.

Phil's Hill: The Company is currently finalising an AC drilling program over Phil's Hill to extend bedrock sampling from copper and platinum geochemical targets drilled at Phil's West and the southern cross-cutting fault. In addition, it will explore the recently highlighted REE anomalism from auger sampling. The Program is anticipated to be ~36 holes and covers the areas in red.

Drilling is anticipated to begin H1 2023. PROPOSED AC DRILLING: Figure 6 shows proposed AC drillholes across outcropping ultramafic rocks associated with encouraging surface Cu- Fe and Ni-Cr geochemistry and a surface MLEM anomaly. As reported recently, Ce and La REE anomalism in auger samples is found in the same area and re-assay of these samples is currently underway for the remaining REE elements not previously analysed for.

Approximately 29 holes (white dots below) are planned in three traverse which is scheduled for H1 2023 once crops are harvested. Calingiri West E70/5378: Roses Prospect - Three 200 m spaced MLEM traverses were completed over an anomaly identified in the VTEM data on the western edge of tenement E70/5378. The northern line had to be truncated due to time constraints and thick vegetation.

The data confirms the VTEM anomaly, suggesting a dip to the east and back under the tenement. A second anomaly not obvious in the VTEM was observed on the southern two lines. Forthcoming field work after harvest will explore the surface up-dip expression of these modelled plates, combined with field mapping for ultramafic rocks along with soil geochemistry.

RC or AC drilling will follow on prospective areas. Anzac Hill Prospect - Once crops are harvested field work will begin to understand EM trends identified by surface MLEM surveying in May. Wubin E70/5378: Following a strategic review, the Company has relinquished part of Wubin project area covered by the Lake Monger Heritage Walkway as it is unlikely that the company would be able to explore these areas in the future.

The original tenements (white) and new tenement areas (black lines) are shown below and the reduction will allow Pursuit to focus on more prospective areas in the West, with a 2,390 hole auger program outlined for completion H1 2023. Next Steps: Assay recently acquired Caravel samples (1,553) for broad multi-element suite covering the north eastern section of Calinigiri East. Complete additional REE testwork on Calingiri East and Bindi Bindi auger samples.

Field mapping, ground truthing at Calingiri West of MLEM trends/plates at Roses and Anzac Hill prospects once crops are harvested. Revise proposed AC programs as needed following the re-assaying results. Additional auger sampling and field mapping at Calingiri East and Bindi Bindi in areas of no geochemical coverage.