Revolver Resources Holdings Limited has discovered a significant new VMS system in the district scale tenement package containing the Larramore Volcanic Belt, within the greater Dianne Project area in far north Queensland's Hodgkinson Province. A recently completed Heli-EM survey, using the NRG "Xcite" system, identified multiple priority conductive anomalies across the region. The maiden diamond hole testing the first of these targets has confirmed the VMS potential of the district and the validity of the Heli-EM targets intersecting significant VMS mineralisation.

This new VMS discovery is less than 10 km from the existing Dianne deposit. Highlights: Drill hole 23LMDD001 has intersected over 9 meters of intense classic VMS stockwork mineralisation across a number of down hole intervals. Pervasive sulphide mineralisation has been observed across more than 260 meters of the 290 meter drill hole length.

Visual evidence of continuing and regular copper mineralisation in the heavily altered volcanic host rock provides clear indication of a large scale hydrothermal system less than 10km from the existing Dianne deposit. 307 line kilometers of recently completed Heli-EM survey across the Larramore Volcanic Belt identifies a further 15 similar high priority drill targets. Immediate down hole geophysical surveys and surface mapping activities will be initiated to quickly focus follow up drilling.

Discussion of Geophysical Results: The preliminary data from the Heli-EM survey, facilitated by NRG's advanced Xcite system, has now been received from the survey contractor and processed and interpreted by specialist geophysicist consultants Geo Discovery Group who have completed preliminary target identification. Initial analysis is deemed by Revolver to be very positive with modelling of the survey data identifying a number of discrete yet prominent `Late-Time' conductivity anomalies providing an new pipeline of high priority targets. To date, sixteen (16) high priority bedrock anomalies (C1-C16) have been interpreted to be consistent with an accumulation of sulphides and provide compelling shallow VHMS-style targets.

These priority targets have been identified from a larger subset of anomalous conductive responses. The high priority anomalies will require further review of Conductivity Section modelling and detailed conductor plate modelling of the EM decay data using Maxwell EM modelling software to further assist drill targeting and this will be undertaken in the coming months by Geo Discovery Group. Maiden Diamond Drilling at C3 Anomaly: The C3 target is based on the identification of a shallow electromagnetic conductor and has a response supporting the potential to reflect massive sulphide mineralisation.

One (1) diamond hole (23LMDD001) for 289m has been completed, drilled into the C3 EM Target. Host Lithology: The lithological sequence intersected in 23LMDD001 supports a broader regional assessment of the Larramore Volcanic Belt that the geological environment is conducive to Besshi-type Pelitic-Mafic volcanic-hosted massive sulphide (VMS) occurrences. These VMS predominantly stratiform chert quartzites host with a sub-volcanic system associated with basic volcanic sills or flows and dykes with associated disseminated copper mineralisation.

In support of this assessment, number of key findings on drillhole 23LMDD001 include: The lithology, schematic shown in Figure 5, of the hole is characterized by a conformable succession of pelitic turbiditic sequences (lesser sandstone/greywacke) and sedimentary breccias with intercalated stratiform chert horizons. The succession is frequently intercalated with conformable intermediate to mafic volcanic rocks (microdiorite dykes or sills and ash tuffs). Pervasive hydrothermal alteration is evident and associated with weakly mineralised stockwork veining and disseminated copper mineralisation throughout the succession with several zones of strong sulphide mineralisation (containing pyrite-pyrrhotite-chalcopyrite-sphalerite).

Within the sedimentary breccia units, various sulphide mineralized clasts (containing pyrite-chalcopyrite) have been observed. The sulphide clasts, pervasive copper mineralisation, volcanics and tuffs indicate that the package of rocks was deposited proximal to a volcanic source and possible VMS system. Mineralisation: Four (4) strongly mineralized intervals (A to D), of hydrothermal and vein breccias and stockwork zones associated with mafic volcanic and chert horizons are present in the hole, two of which are interpreted to demonstrate strong VMS stockwork affinities refer Figure 5 and 6. Refer to Annexure 1, Table 2 for the visual mineralisation observations of diamond hole (23LMDD001).

Interval A: The first of these zones is hosted within mafic volcanics with strong sulphide mineralisation associated with intense stockwork veins (and disseminations) and was intersected between 112.3m to 119.1m (Zone A). Mineralisation includes pyrrhotite, chalcopyrite and lesser sphalerite proliferating as fine to coarse-grained vein infill and disseminations in altered (silica, chlorite, and carbonate) host rocks refer Figure 6. Silicification and hydrothermal breccias are present above and below this interval. The observed sulphide mineralogy and nature of the stockwork is interpreted to have VMS affinities as potential stringer or feeder zones, providing strong support for the occurrence of proximal banded/bedded VMS horizons at the prospect.