Yandal Resources Ltd. announced that it has received final assay results from the Mt McClure RC drilling program completed in the December Quarter 2022. Mt McClure is located in the southern Yandal Greenstone Belt of Western Australia and includes approx. 60km2 of tenure (incl.

applications) 10km south-west from the historic Bronzewing mine and adjacent to the Orelia development both owned by Northern Star Resources. The recent RC program comprised 34 holes for 4,736m and was designed to test targets with the potential to add to the 136,000 Au Resource inventory at Mt McClure. Holes were completed adjacent to the Success, Parmelia and Challenger Resource envelopes as well as at the emerging HMS Sulphur, Gilmore and Caroline Prospects.

The program returned several highly encouraging intercepts, notably identifying high-grade mineralisation at depth beneath Gilmore, extending mineralisation down dip at Challenger and confirming strike continuity of the HMS Sulphur footwall zone. The Company is also progressing a 3D Leapfrog modelling exercise which is designed to identify potential high-grade plunging shoots within the broader mineralised zone, such as those described at the nearby +1Moz Orelia Deposit, which may warrant deeper drill testing. Gilmore is located approximately 1km south-south-east along strike from the Challenger group of deposits towards the southern end of Yandal's lease boundary.

The prospect comprises a zone of strongly anomalous gold in historic drilling over a total strike length of 350m, including a central zone covering 250m of strike defined by closer spaced drilling on 25m - 50m centres. Drilling by Yandal in 2021-2022 in the central zone confirmed strong shallow mineralisation returning intercepts including 6m @ 2.8g/t Au from 54m (YRLRC0416) and 14m @ 1.2g/t Au from 29m (YRLRC0424), 5m @ 1.4g/t Au from 45m and 3m @ 2.5g/t Au from 90m (YRLRC1086). The recent drilling was designed to test down dip of previous drilling on 50m centres over the entire strike of the central zone as well as add another traverse of drilling 25m to the north.

The down dip drilling successfully intersected the mineralisation zone on all sections. Of particular note are YRLRC1117 and YRLRC1118 drilled 50m apart and approximately 40m down-deep of previous drilling which intersected high-grade mineralisation including: · 3m @ 4.9g/t Au from 113m including 1m @ 14.4g/t Au (YRLRC1117) and; · 4m @ 1.8g/t Au from 116m including 1m @ 6.7g/t Au (YRLRC1118) The line of holes immediately to the north of the central zone also intersected the mineralised horizon, though results were generally of lower tenor than results to the south. An updated geological model will be completed prior to planning the next round of drilling at Gilmore.

Challenger comprises three historic open cut pits (Challenger North, Challenger Central and Challenger South) and one unmined satellite deposit (Admiral Gifford) (Figures 1, 2 & 3). There is significant mineralisation remaining beneath the base of historic open cut pits which together with mineralisation at Admiral Gifford comprise the 44,000oz Au Challenger Mineral Resource(1). Within the MRE envelopes there is potential for higher-grade shoots, though drilling density is not sufficient to determine their orientation.

The purpose of this round of drilling was to test immediately beneath the MRE envelopes in selected positions on nominal 20m to 40m down-dip step-outs from previous drilling. At both Challenger North and Challenger South three holes were drilled on three sections approximately 50m apart with each hole intersecting the mineralised horizon. The best result at Challenger North was from the centre hole YRLRC1106 which intersected 9m @ 1.1g/t Au from 142m including 5m @ 1.7g/t Au.

This result together with an historical intercept down dip and 75m to the south in gcmCHLC3 (13m @ 1.2g/t Au from 168m including 2m @ 4.3g/t Au) potentially support a southerly plunge to the lode, though further 3D interpretation is required to confirm this. At Challenger South the best result came from the northern hole YRLRC1110 which intersected 10m @ 1.2g/t Au from 124m including 5m @ 2.2g/t Au hole and a second lower zone of mineralisation of 7m @ 1.0g/t Au from 137m including 3m @ 2.0g/t Au. The HMS Sulphur Prospect is located immediately to the north-west of the Success deposit, in the footwall stratigraphic position.

Initial drilling in the area by the Company in 2021 following up historic drill hole anomalism returned a number of intercepts in the area including 11m @ 2.6g/t Au from 73m including 8m @ 3.3g/t Au (YRLRC401)(1). In the September Quarter 2022 drilling by the Company returned further encouraging intercepts including 14m @ 1.3 g/t Au from 113m including 2m @ 6.4g/t Au (YRLRC1076).