For personal use only

ASX RELEASE

26 July 2022

33m @ 4.27g/t Au intercept obtained in Borborema Resource

Extension Drilling

____________________________________________________________________________________________________

HIGHLIGHTS

  • Assay results were received for an additional 5 of the extension drillholes completed at Borborema. Assay results from 2 holes are awaited.
  • Highlights of these drillholes include:
  1. CRDD-184intersected 33m at 4.27 g/t Au

(including 8m at 11.12 g/t Au and 6m at 4.64 g/t Au);

  1. CRDD-185intersected 41m at 1.58 g/t Au

(including 10m at 2.21 g/t Au and 3m at 7.69 g/t Au) and,

    1. CRDD-182intersected 44m at 1.38 g/t Au
      (including 7m at 2.45 g/t Au).
  • All holes have now been completed for the first stage of the resource extension drilling program.
  • All holes intercepted elevated grades in projected zones of mineralisation at 100m down dip to the resource and along 1.2km of strike.
  • Drilling the central zone has confirmed thick zones of significantly high grades over 300m of strike extending below the depth of previous drilling. It further indicates the potential to define high grade feeder zones to the Borborema project.
  • Elevated grades encountered in holes CRDD182-185 are in close proximity to previously reported drillholes CRDD138 and CRDD134 that intercepted 50m at 4.95g/t Au and 47m at 2.31g/t Au respectively.

__________________________________________________________________________________

Big River Gold Ltd (ASX: BRV) (the Company or Big River) is pleased to advise that assay results have been received for an additional 5 drillholes of the resource extension drilling program at the Borborema Gold project in north east Brazil.

Drillhole details for these 5 holes are provided in Table 1 along with summaries of assay results returned. Hole location plans and relevant sections are provided in Figures 1 to 5.

Drill holes CRD182 to CRDD185 are in close proximity to section 20,000mN along which several high grade intercepts were reported to the ASX on 12 April, 2012 and 6 June, 2012. This section is illustrated as Section P-P' in figures 2 and 6.

Figure 6 details drill holes CRDD 138 which intersected 50m at 4.95g/t Au (including 27m at 8.49 g/t Au) and CRDD134 which intersected 47m at 2.31 g/t Au (including 15m at 3.61 g/t Au). These holes are located approximately 70m from hole CRDD184 (33m at 4.27 g/t Au) which confirms the potential for defining a higher-grade feeder zone or core to the resource and warrants additional follow up drilling.

Table 1. Significant Intercepts (>0.3g/t Au and 2m internal dilution)

only

(Grid Datum: UTM24S_SAD69_IBGE)

All holes drilled 60o grid west

Total

From

DH

Au g/t

Hole ID

East

North

Width

Comment (>1g/t Au)

depth

(m)

(>0.6g/t)

(m)

20923

10392

202

1

0.49

20923

10392

207

1

0.53

CRDD-180

385.25

20923

10392

224

2

1.6

1m @ 2.89

20923

10392

246

7

1.25

5m @ 1.53

20923

10392

259

16

0.63

6m @ 1.13

20923

10392

278

8

1.16

3m @ 2.39

use

20816

10410

150

1

0.5

20816

10410

228

1

11.24

1m @ 11.24

20816

10410

235

3

0.67

1m @ 1.58

20816

10410

249

1

0.64

personal

CRDD-181

343.9

20816

10410

260

9

1.38

1m @ 1.83 &

1m @ 7.66

20816

10410

274

11

0.61

1m @ 1.18 &

1m @ 1.09

20816

10410

288

9

0.63

1m @ 1.44

20816

10410

300

1

0.43

20816

10410

333

1

2.26

1m @ 2.26

20213

10467

341

3

1.64

1m @ 3.86

CRDD-182

421.75

5m @ 1.97 &

20213

10467

351

44

1.38

4m @ 2.26 &

3m @ 4.64 &

7m @ 2.45

20320

10462

326

1

0.84

20320

10462

330

6

0.58

1m @ 1.90

CRDD-183

410.1

20320

10462

340

17

0.59

1m @ 4.29

20320

10462

360

6

0.45

20320

10462

369

17

1.66

14m @ 1.97

20320

10462

390

1

0.33

6m @ 4.64 &

CRDD-184

421.3

20121

10471

345

33

4.27

8m @ 11.12 &

1m @ 15.94

20121

10471

381

20

0.79

6m @ 1.74

For

3m @ 7.69 &

10m @ 2.21 &

CRDD-185

400.25

20060

10422

336

41

1.58

2m @ 1.70 &

1m @ 1.13 &

2m @ 2.29

20060

10422

381

1

1.39

1m @ 1.39

2

For personal use only

Figure 1 - Plan of diamond drilling showing section locations illustrated below.

Figure 2 - Long section of Borborema resource showing drill targets completed (green) and the red boxed highlight holes with results pending.

3

For personal use only

Figure 3 - Cross Section 20,210N showing drillhole CRDD-182

Figure 4 - Cross Section 20,120N showing drillhole CRDD-184

4

For personal use only

Figure 5 - Cross Section 20,050N showing drillhole CRDD-185

Figure 6- Cross Section P-P' (refer Figure 2, approximately 20,200N) showing drillholes CRDD-134 and CRDD- 138.These were reported in April and June of 2012 and included in the 2012 Mineral Resource estimate.

5

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Big River Gold Limited published this content on 26 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 July 2022 03:08:03 UTC.