Siren Gold : New 3km mineralised zone discovered at St George

onlyASX RELEASE 16 February 2022

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Brian Rodan

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personalPaul Angus Technical Director

Keith Murray

Non-Executive Director

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41 - 43 Ord Street

West Perth WA 6005

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: [e-mail] w: www.sirengold.com.au

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New +3km mineralised zone discovered

at St George

Siren Gold Limited (ASX: SNG) (Siren) is pleased to provide an update on its current exploration activities.

Highlights

• A new 3km long arsenic anomaly extends from Golden Hill to 1.5kms south of the St George mine and is open to the south. The gold soil geochemistry generally mirrors the arsenic anomalies for results received to date.
• This anomaly lies 1.6kms south of the Big River mine, that produced 136koz at 34.1g/t Au, and 4kms to the east of the famous Blackwater mine, that produced 740koz at 14.2g/t Au, that is currently being developed by Federation Mining Limited, who plan to recover an additional 700koz of gold.
• • In the historic Golden Hill claim a 0.6m to 2m wide quartz reef was found in the late 1800's. The quartz reef was traced in a series of trenches over a strike length of 900m. A 55m long drive was developed on the northern section of the reef that averaged 0.5m thick and 39 tons were mined and crushed for an average grade of 7g/t Au.
  • At Big River South a 45m long, 1.5m wide reef with visible gold was discovered in 1908 with an estimated grade between 23g/t and 32g/t Au. The reef was intersected in several exploration drives which pinched and swelled. A 100m long gold bearing reef was found on one level but was not developed.
  • St George, located south of Big River South, was discovered after several gold bearing outcrops were found in 1890's. An 30m drive was competed on 1m thick reef with 30 tons mined, with a return of 70 ounces of gold for an average grade of 72g/t Au. Three further reefs were discovered where 16 tons were won recovering 37 ounces of gold for an average grade of 72g/t Au.

Background and Historic Production

St George is located in the southern half of the Big River exploration permit 60448 and lies 1.6kms south of the Big River mine that produced 136koz at an average grade of 34.1g/t Au and 4kms east of the historic Blackwater mine that produced 740koz at an average grade of 14.2g/t Au (Figure 1). The Big River mine closed in 1942 due to a shortage of labour during WW2 and Blackwater closed in 1951 when the shaft collapsed, and the mine flooded. Federation Mining Limited is currently developing a 3.2km decline to intercept the Birthday

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Reef 750m below the surface where the Blackwater mine ended in 1951, and plan to extract an additional 700koz of gold.

The St George area comprised the Golden Hill, Big River South and St George historical mine areas. The following are interpreted from a book by Les Wright titled the "Big River Quartz Mine - a Worthwhile Speculation" written in 1993.

In the historic Golden Hill claim a 0.6m to 2m wide quartz reef was found in the late 1800's. The quartz reef was traced in a series of trenches over a strike length of 900m. A 55m long drive was developed on the northern section of the reef that averaged 0.5m thick and 39 tons were mined and crushed for an average grade of 7g/t Au. This was considered sub economic at the time and no further exploration has been completed.

Big River South was discovered in 1908 when a 45m long reef 1.5m wide with visible gold was estimated to grade between 23 and 32 g/t Au and has similarities with the nearby Blackwater Reef. Good reef was intersected in exploration drives which pinched and swelled. On one level a 100m long gold reef was found but no further work was done to prove its extent or worth and the Reefton South claim was never worked after 1925.

St George, just to the south of Big River South was found after several gold bearing outcrops were found in 1890's. An early 30m drive was completed on a 1m reef containing quartz and black pug with very encouraging results from 30 tons recovered with a return of 70 ounces of gold (72 g/t Au). Three further reefs were discovered where 16 tons were won, recovering 37 ounces of gold (72 g/t Au). The reefs were found to pinch and swell and, again, development was hampered by lack of funding. The claim was abandoned until 1910 where an ambitious plan was to drive a low-level tunnel from Snowy River. In 1910 a 571m long tunnel was driven north from the Snowy River. From 240m the tunnel was driven along the gold bearing reef with several small gold reefs or quartz boulders were intersected along the drive, but none were developed. The war in 1914 stopped any further exploration.

Recent Siren Gold Exploration

Mapping to the south of the Big River mine has confirmed that a large broad anticline extends at least 4kms from the Big River mine to St George and is open to the north and south (Figure 1). This anticline is largely obscured by thin glacial till but there is sufficient basement outcrop in creek beds to map this structure. The main reef track that runs through St George and Big River South mines is parallel and 250m to the west of the anticline hinge and appears to link into the Big River mine. These structures are prime target areas for Big River mine style mineralisation.

Soil geochemistry has now been completed for over 5kms from Big River North to around 2kms south of St George. The arsenic soil geochemisty shows large anomalies at Big River mine and a 3km long anomaly from Golden Hill to south of St George (Figure 1). Only preliminary pXRF arsenic results have been received to date for the bottom six lines but these results clearly show that the arsenic anomaly continues strongly to the south. The St George soils program has recently been extended 800m to the south, with an additional four 200m spaced lines as shown on Figure 1. Arsenic and gold results for these samples are still awaited.

Figure 2 shows gold soils received to date with a large number of sample results still awaited. These samples have been sent to LabWest in Perth, where they are being analysed using the new UltraFine+ soil technique method developed by the Commonwealth Scientific and Industrial Research Organisation (CSIRO) and LabWest. The sub-2-micron clay fraction is analysed with the latest microwave digestion techniques and ICP machines, which has low detection limits, and gives clearer data trends and can potentially detect gold in areas covered by glacial till. The gold results received to date largely mirror the arsenic results.

Only 7 diamond holes have been drilled south of the Big River mine. OceanaGold Limited (OGL) drilled 7 diamond holes in at Big River South and St George in 2011/12 for a total of 926.2m (Table 1). BRS001 - BRS003 were drilled at St George and BRS004 - BRS007 were drilled at Big River South. All but one hole intersected gold mineralisation, which is encouraging, with several holes intersecting 3-4 narrow structures with the highest grades of 1m @ 5.49g/t Au in BRS006 and 4m @ 2.09g/t Au in BRS004 at Big

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River South (Figure 3). Two styles of mineralisation were recognised. Free gold within 1-3mmwhite-grey quartz veins and gold associated with fine acicular within brecciated zones.

Table 1. Big River South and St George Drillhole results

Diamond	Prospect	Easting	Northing	RL	Azimuth	Total	From	To	Interval	Gold	Arsenic
drillhole ID					/ Dip	Depth	(m)	(m)	(m)	(g/t	(ppm)
						(m)				Au)
BRS001	St George	1508042	5319682	698	263/-55	140.1				nsa
BRS002	St George	1508042	5319682	698	067/-54	115.7	3.0	10.0	7.0	0.85	1,826
including							9.0	10.0	1.0	2.89	1,035
BRS003	St George	1508145	5319696	677	246/-53	112.1	44.0	45.0	1.0	1.81	77
							56.0	57.0	1.0	2.86	95
							80.0	81.0	1.0	1.24	57
BRS004	BR South	1508199	5320192	691	263/-53	158.6	1.0	2.0	1.0	1.91	103
							72.0	76.0	4.0	2.09	5,492
including							74.0	75.0	1.0	4.03	10,600
BRS005	BR South	1508199	5320192	691	079/-50	68.6	14.0	16.0	2.0	0.80	872
BRS006	BR South	1508199	5320192	691	298/-52	210.1	7.0	8.0	1.0	1.04	67
							66.0	67.0	1.0	1.86	27
							84.0	85.0	1.0	5.49
							103.0	106.0	3.0	0.89	1,424
BRSDDH007	BR South	1508270	5320157	705	247/-50	121.0	12.0	13.0	1.0	1.13	38
							28.0	33.0	5.0	0.91	2,335
							71.0	72.0	1.0	2.61	1,243
							109.0	110.0	1.0	2.90	100

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Figure 1. Big River - St George arsenic soil plan.

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Figure 2. Big River - St George gold soil plan.

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