Revolver Resources Holdings Ltd. announced ramp-up drilling at its Dianne Copper Project in North Queensland after new drilling and soil sampling results indicate the presence of clear surface anomalies overlapping the identified EM drill targets, all in close proximity to the existing Dianne deposit. Two diamond holes (22DMDD18 and 22DMDDD19) over 1,141m targeted a EM target 200m beneath the High grade Massive sulphide Dianne deposit (Dianne Deeps). Both drill holes have intersected interpreted extensions of the massive sulphide horizon present at the project.

Dianne Deeps - Diamond Drill Holes 22DMDD18 and 22DMDDD19. The high priority Dianne Deeps target is based on the identification of a shallow electromagnetic conductor, located within 200m of the existing Dianne massive sulphide (VMS) mineralisation that has a response supporting the potential to reflect massive sulphide mineralisation. The target is positioned below, or on a south plunge, from Dianne within the same broader prospective stratigraphic and structural setting.

Encouragingly, both Diamond Drill Holes 22DMDD18 and 22DMDDD19 both intersected interpreted extensions of the massive sulphide horizon present at Dianne. This is represented as brecciated and recrystallized chert with minor pyrite mineralization within a broader sequence of shales interbedded with sandstone, and contemporaneous volcanics (multiple thin microdiorite sills and flows) confirming an extension of the prospective geology. Stratigraphically below this horizon, 22DMDD19 intersected sedimentary breccias/debris flows (conglomerates) with mineralised intraformational clasts of massive sulphide (pyrite-chalcopyrite-sphalerite), suggesting the potential presence of proximal' VMS horizon pre-Dianne massive sulphide lens.

Hole 22DMDDD19 was also surveyed with downhole EM (DHEM). The conductive response identified in the various surface and airborne geophysical surveys have yet to be explained by the drilling to date. DHEM plate modelling from hole 22DMDDD19 is preliminary, however it has identified several subtle off-hole conductors.

This high priority target remains untested with a view to now repositioning the next exploration hole in close proximity. A second downhole EM survey is planned for 22DMDD18 in an attempt to further refine the off-hole conductive responses. Of additional interest, hole 22DMDDD19 intersected a number of metre-scale zones of well-developed quartz-carbonate veined stockwork/breccia (up to 5.43m downhole length).

These zones display a varying presence of disseminated sulphide (galena-pyrite-sphalerite-arsenopyrite) that are interpreted to be of orogenic gold vein-style in origin. Samples from these zones have been submitted for assay to test the gold-bearing potential. While the geology logged from the Company's drill holes is encouraging, it has not yet been assessed quantitatively or interpreted as to grade or true with of mineralization.

The Company cautions that visual estimates of sulphide and oxide material should never be considered a proxy or substitute for laboratory analysis. Laboratory assay results are required to determine the true widths and grade of the mineralization reported in preliminary logging. The Company will update the market when laboratory analytical results become available which is expected to be in First Quarter 2023.

Tenement Wide Exploration activities: The Dianne Project is centered around the Dianne copper deposit which is hosted in deformed Palaeozoic shale and greywacke of the Hodgkinson Formation. The deposit type is interpreted to be Besshi Style (Pelitic-Mafic) volcanic-hosted massive sulphide (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. Revolver is currently exploring for similar VMS targets on the strong geological rationale that the Dianne deposit confirms the exploration hypothesis and right geological setting and that VMS deposits often occur in clusters of deposits.

Over the past 3 months, Revolver has completed extensive geophysical, geochemical and field geology work aimed at defining and refining near-mine VMS targets along key geological horizons. The immediate region around the current mineralization at Dianne has been a priority focus of the targeted exploration work and remains so. This current program of work commenced in August 2022 with the acquisition of 670-line km of Heli-EM data that identified multiple anomalies.

These anomalies are small to moderate size, discrete and localised, late-time bedrock conductors situated across numerous areas within the tenement. Following the positive exploration results of the Heli-EM survey, Revolver immediately deployed on-ground geological teams to acquire a large volume of new field information and knowledge, thereby ground-truthing a number of the dentified EM targets. Several programs of geological mapping, rock chip and soil sampling were all routinely undertaken to contribute to the ranking and prioritisation of so many drill worthy targets.

The comprehensive modelling of the newly collected data, and a weights of evidence approach to targeting, has now vectored the company onto several high priority targets for immediate drilling. Targeted drill hole design has been refined based on additional detailed conductivity section modelling and conductor plate modelling of the EM decay data using Maxwell EM modelling software by Geo Discovery Group. With appropriate levels of confidence, these targets are now in the process of being drill tested.