AIC Mines Limited announced outstanding drilling results from the Jumbuck, Squatter and Billabong shoots at the Jericho Copper Project. The Jericho copper deposit is located 4 kilometres south of the Eloise Copper Mine and processing plant. Jericho mine development studies and Eloise processing plant expansion studies are currently underway.

Development is expected to commence in 2024 subject to permitting. The Jericho deposit currently has a strike length of 2.3 kilometres. It commences at approximately 50m below surface and extends to a vertical depth of 550m below surface.

It occurs in two parallel lenses - J1 and J2 with higher grade shoots within these lenses, namely Jumbuck, Matilda, Billabong and now Squatter. Mineralisation remains open along strike and at depth. Resource Extension and Definition Drilling: A diamond and reverse circulation ("RC") drilling program targeting extensions to the Jericho resource and infill of high-priority areas of the Jericho resource was completed in September 2023.

A total of 38 diamond holes for 9,334m and 42 reverse circulation (RC) holes for 7,357m were completed. All of the assay results have now been received. The aim of the drilling was to: Convert higher-grade areas of the Inferred Resource above the -100mRL to Indicated Resource category via a drill spacing of 50m by 50m; Investigate strike extensions, both north and south, along the J1 and J2 Lenses; Test the down-plunge continuation of the high-grade Jumbuck shoot; and Test the Jericho North target.

All of these aims have been achieved. The results will be used to update the Jericho Mineral Resource and Ore Reserves estimates and also further optimise the current mine plan. Jumbuck: Resource extension drilling has successfully traced the high-grade Jumbuck shoot a further 200m down-plunge.

Significant intercepts include: JEDD024 - 5.5m (3.8m ETW) grading 1.45% Cu, 0.19g/t Au and 2.07g/t Ag from 506.55m; and JEDD034 - 7.4m (4.8m ETW) grading 3.30% Cu, 0.44g/t Au and 4.45g/t Ag from 487.85m The Jumbuck shoot is now defined to a vertical depth of 500m below surface and remains open at depth. In addition, resource definition drilling at Jumbuck has successfully extended the zone of high-grade mineralisation below the current Ore Reserve limits. Significant intercepts include: JEDD030 - 6.5m (4.5m ETW) grading 2.65% Cu, 0.67g/t Au and 4.07g/t Ag from 246.0m; JEDD031 - 5.6m (3.1m ETW) grading 2.50% Cu, 0.32g/t Au and 2.34g/t Ag from 254.65m; JERC041 - 6.0m (3.8m ETW) grading 2.70% Cu, 0.96g/t Au and 2.68g/t Ag from 75m; and JERC042 - 5.0m (2.7m ETW) grading 3.10% Cu, 2.91g/t Au and 4.80g/t Ag from 102m.

Squatter: Drilling between the Jumbuck and Matilda shoots has returned high-grade results. In particular, the area south of Matilda and above the 0mRL has returned several high-grade intercepts, within a larger mineralised envelope, defining what is now termed the Squatter shoot. Significant intercepts include: JERC032 - 3.0m (2.2m ETW) grading 2.50% Cu, 0.51g/t Au and 2.33g/t Ag from 132m; and JERC033 - 3.0m (2.0m ETW) grading 3.50% Cu, 0.30g/t Au and 3.17g/t Ag from 168m.

Billabong: Resource definition drilling of the Billabong shoot has extended the higher-grade zone above the 0mRL and also intersected thicker zones of mineralisation. Significant intercepts include: JERC034 - 18.0m (10.5m ETW) grading 1.40% Cu, 0.11g/t Au and 1.76g/t Ag from 133m; including 3.0m (2.4m ETW) grading 2.30% Cu, 0.13g/t Au and 3.0g/t Ag from 148m; JERC035 - 2.0m (1.4m ETW) grading 2.40% Cu, 0.33g/t Au and 2.95g/t Au from 204m; JERC037 - 10.0m (6.9m ETW) grading 1.30% Cu, 0.28g/t Au and 1.41g/t Ag from 160m; and including 2.0m (1.3m ETW) grading 2.90% Cu, 0.38g/t Au and 3.20g/t Ag from 165m.