Revolver Resources : Stunning drill results - up to 50% copper minerals at Dianne

only23 March 2022

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Revolver Resources Holdings Ltd	Phone [phone]
L23, 240 Queen Street	[e-mail]
Brisbane Queensland 4000	revolverresources.com.au
ASX:RRR

ASX RELEASE

Stunning drill results - up to 50% copper minerals

at Dianne

Nine new drill holes all intersecting copper-zinc mineralisation at Dianne

Project concludes successful Phase 1 drill program

Highlights

• Results of initial 17 hole, 2,994m diamond drill program at the Dianne Project exceed all expectations
• Drilling has intersected significant intervals of visible copper and zinc mineralisation in 13 of 17 holes drilled (Annexure 1: Table 1a)
• New highlights of the latest diamond drill holes confirm intersections of:
  o Hole 21DDMD05; High-grade chalcocite / chalcopyrite with a visual estimate of up to 50% copper minerals present from 187.2m to 188.4m down hole (Table 1) assay results pending
  o Hole 22DDMD07; A 41.88m intercept with a visual estimate of up to 8% copper minerals (Table 1) assays results pending
  o Hole 22DDMD15; An intercept of 58.1m with a visual estimate of up to 4% copper minerals (Table 1) assays results pending
• The mineralization remains open in multiple directions (Figures 1 and 2)

• Assay results from the initial drill program are expected in Q2 2022

• Reporting of the Dianne Initial Mineral Resource Estimate expected in Q3 2022
• 10 of the completed drill holes are cased and ready for down hole Electromagnetic (EM) survey in April 2022

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REVOLVER RESOURCES HOLDINGS LIMITED (ASX: RRR) ("Revolver" Or "The Company") is pleased to report that the Company has completed a very successful 2,994m, 17-hole diamond drill campaign at the 100% owned Dianne Copper Project in the Palmer River Region of Far North Queensland.

The Company has concluded the initial Dianne drill program with 9 additional drill holes intersecting significant visible copper mineralisation (Table 1). These 9 new holes have intersected broad "at surface" intervals of visible Green Hill or "down plunge" massive sulphide copper (zinc) mineralisation. Multiple deposit scale step- out, near pit and district scale IP targets remain to be tested during the planned second drilling campaign for H2 2022.

Near Term Dianne Project Activity

• Reporting of assay results from all 17 holes of the initial drill campaign - coming weeks
• Metallurgical results from initial test work on Green Hill and Massive sulphide mineralisation - Q2 2022
• Reporting of assay results from validated historic drill data base for Green Hill and Massive sulphide mineralisation - Q2 2022
• Reporting of Dianne Initial Mineral Resource Estimate - Q3 2022
• 10 holes cased and ready for down hole Electromagnetic (EM) survey - contracted for April 2022
• Tenement scale heliborne EM Survey - contracted for H2 2022

Revolver's Managing Director, Pat Williams said:

"Our integrated team of exploration specialists have concluded a tremendously successful 5-month field program, culminating with a 17-hole diamond drill program. The Company acknowledges the expertise of this diverse team to safely deliver an integrated field program that has well and truly exceeded the opening objectives and expectations.

We have delivered amazing drill results, with 13 out of 17 holes intersecting substantial copper mineralization. This result has clearly expanded the previously known footprint of the copper deposit.

We have demonstrated that Dianne has the potential for both high-grade massive sulphide and near surface Green Hill mineralisation extracting both with a potential bulk minable style of configuration.

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We have many updates and much more news to deliver from the project over the coming weeks and months. This includes all assay results for the 17 holes, metallurgical test work and progress towards the initial JORC Mineral Resource Estimate.

And in addition to this, Revolver will also be reporting in the near future on the program and progress for its Osprey copper project located in the world class Mt Isa mining province."

New Intersections of Visible Copper Mineralisation - Massive Sulphide

Revolver has previously reported impressive intersections of massive sulphide mineralisation2,4 (Annexure 1, Table 1a) from the initial drill program at Dianne with visual estimates of:

• 5.08m down hole, of 90% sulphide, including intervals of up to 40% chalcocite in the supergene enriched zone from 96.62m in hole 22DMDD09, and
• 6.95m down hole, of 90% sulphide, including up to 20% chalcopyrite and 20% sphalerite from the primary massive sulphide from 145.95m in hole 21DMDD03.

Assay results from all of Revolver's initial drill holes are pending, however previously reported assay results from the Company's re-assaying of historic Dianne drill holes5 stored at the Geological Survey of Queensland's core library in Brisbane, provided insight into the high to very high-grade copper (zinc and silver) grades of the Dianne massive sulphide lens.

Revolver hole 21DMDD09 was drilled adjacent to historic hole DMD14 that re- assayed a best interval of 4.83m @ 29.1% Cu, 1.22% Zn and 40.6g/t Ag from similar supergene enriched chalcocite massive sulphide. Revolver hole 21DMDD03 was drilled adjacent to historic hole DMD03 that assayed 5.56m at 5.1% Cu, 5.1% Zn and 31.1g/t Ag from similar primary chalcopyrite - sphalerite massive sulphide mineralisation.

In recent deeper drilling Revolver has intersected additional intervals of massive sulphide that demonstrate the continuation of the massive sulphide lens to depth (Table 1). Holes 21DMDD05 and 22DMDD08 have intersected a mixed chalcocite enriched + primary chalcopyrite massive sulphide lens that is 1.27 m and 0.78 m thick (down hole) respectively. While hole 22DMDD10 has intersected 0.50 m (down hole) of primary chalcopyrite - sphalerite bearing massive sulphide.

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A combination of Revolver and historic drill intersections suggest that the massive sulphide lens, while open down dip to the north, plunges to the south (Figure 2) where historic drilling shows it to be between 3 and 5 m thick at the base of drilling, between 50 and 100 m below surface. This area is a priority target for exploration in the planed Phase 2 drill campaign.

Table 1: Visual Estimates* of Copper Mineralisation in Drill Holes 21DMDD05, 22DMDD07, 08 10, 13-17

• In relation to the disclosure of visual mineralisation, the Company cautions that visual estimates of sulphide and oxide mineral abundance should not be considered as a proxy or substitute for laboratory analysis. Laboratory assays are required to determine the thickness and grade of visible mineralisation reported from preliminary geological logging. The Company will provide a market update once laboratory assays become available.

New Intersections of Visible Copper Mineralisation - Green Hill

The Company has also previously reported impressive visual intercepts of Green Hill style supergene fracture vein copper mineralisation from surface, over down hole intervals of 46.1 to 91.0 m in holes 21DMDD01,02,092,4 (Annexure 1, Table 1a).

In more recent drilling, Revolver has intersected additional significant intervals of Green Hill mineralisation in holes 22DMDD07, 15, 16 and 17 (Table 1), with visual

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estimates of between 0.5 to 8% supergene copper minerals over 13.6 to 58.1 m down hole.

A combination of Revolver's recent and the historic drilling can now be used to outline the currently known geometry of the Green Hill deposit. Intersections of low- grade supergene zinc minerals in holes 22DMDD13 and 14, may also assist in defining continuity of the massive sulphide lens to the south.

This season's drilling has outlined Green Hill mineralisation over a 70 x 220 m area. However, Revolver's surface rock chip sampling1 has outlined a copper in rock chip anomaly intermittently exposed through thin post mineral cover, over 300 by 300 m area suggesting Green Hill mineralisation remains open to the north, south and west of its currently defined limits.

Revolver's drilling shows in cross section (Figure 2) that mineralisation forms a shallow, up to 50 m thick (estimated true thickness) east dipping sheet of mineralisation that abuts against the subvertical Dianne massive sulphide lens on its eastern margin.

The Green Hill mineralisation is developed as a fracture stockwork and disseminations of supergene copper oxide / carbonate, sulphide and lesser native copper. Revolver has initiated metallurgical testwork on samples of Green Hill mineralisation to determine compatibility for heap leach extraction of copper, as the supergene copper oxides / carbonates and sulphide minerals seen at Green Hill typically show good recoveries in heap leach operations globally6.

Revolver's exploration is outlining a significant near surface body of supergene copper mineralisation at Green Hill, that adjoins and complements the Dianne high grade massive sulphide mineralisation. The Green Hill deposit remains a priority target for further exploration during the second drill campaign.

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