Resources & Energy Group Limited provide results from drilling operations at the Companies Maranoa prospect. Three of the four holes completed in the December 2021 program intersected the targeted lode system with peak assays of: MRRC013m@ 11.7gt/au from 36m, including 1m @ 33.75gt/au from 37m down the hole; MRRC031m @ 1.03gt/au from 107m, and 1m@5.16gt/au from 110m down the hole. Maranoa is a granted Mining License (M29/427) and is being investigated as part of the Company's strategy to identify and commercialise near term and low capital cost mine development opportunities along the western side of the East Menzies project area.

This approach enables the company to generate cash flow to fund exploration in the broader tenement package. This includes the highly prospective Gigante Grande Gold Project in the east, and the recently announced Nickel Sulphide occurrences at Springfield in the west. Previous investigations at Maranoa have identified a (JORC 2012) inferred mineral resource estimate of 46kt @ 5.7gt/au for about 8koz.

Resource modelling indicates potential for small scale high grade open cut operations. These resources present an opportunity for extending mining activities at East Menzies which are presently focussed on the Granny Venn Cut Back. The drilling activities at Maranoa to date (past and present) have principally been directed at shallow open cut mineralisation.

On a broader canvass, the resource at depths below 100m has not been tested and is considered open to the south.