Boss Energy Limited announced that it is about to start exploration drilling as part of its strategy to continue growing the inventory and forecast production rate at its Honeymoon Uranium Project in South Australia. The drilling program will test highly promising targets identified by the recently-completed geophysical programs using seismic reflection surveys. Passive seismic has helped to refine the palaeovalley geometry at Honeymoon while the modern seismic reflection system adds to that by enhancing the detail of likely permeable horizons within the palaeovalley fill. These two seismic methods were deliberately designed to complement one another by mapping out likely host sediments for uranium mineralisation within the known mineralised palaeochannel systems. The survey results have the potential to create significant value for shareholders because they allow better targeting of exploration drilling, which opens the door to increasing production rates over the life of the mine and the mine life, in turn growing the project's NPV and free cashflow. Boss Managing Director Duncan Craib said the Company's exploration strategy had proved highly successful, with the total Resource growing from 16.57Mlbs to 71.67Mlbs (approx. 433% increase) since project acquisition in December 2015. The Company's focus on exploration is aimed at increasing Honeymoon's production profile and extending its mine life. The strategy is thus two-fold: Targeting the greenfields exploration targets to further advance current identified zones of potential high-grade mineralisation; and Upgrading the satellite JORC resources of the Jason's and Gould's Dam Deposits. Passive Seismic Program - A total of 115 survey lines were completed for a total of 535 line kilometres and 2,867 stations. The design of the passive seismic surveys was optimised to suit the specific geological features within each survey target area, with individual stations spaced an average of 200m and line spacings variable between 400m and 2,000m apart. A total of five new targets have been identified, including the highly prospective Billeroo North and Billeroo South Prospects in the Western Region tenements. The target at Billeroo North comprises a noticeable fault offset within a narrow, approx. 2km wide neck of the Billeroo Palaeovalley which has never before been drill tested. The new targets located in the Eastern Region tenements include the Eaglehawk Dam Prospect (Figure 2), which is additional to the existing seven pre-defined Exploration Targets identified in 2019. Passive seismic results from Eaglehawk Dam reveal a deep palaeovalley base associated with a predominant northwest- southeast fault set, strong conductivity on Airborne Electro-Magnetic survey (AEM) and high-grade geochemical assays from historical core drilling. The target has not been drill tested since 1972 when the K-series of drillholes were completed between Brooks Dam North Extension and Jason's South. The combined geochemical, structural and geophysical anomalism makes the Eaglehawk Dam target an exciting and prospective area, and worthy of follow-up drill testing. The northwest-southeast orientated series of faults is the same, highly significant structural set that is responsible for creating the host fault block within which the Honeymoon Domain of the Honeymoon Resource Area (HRA) is hosted. The cut-off parameter selected for Mineral Resource Estimation is a nominal grade of 250ppm pU3O8, with a minimum interval thickness of 0.5 metres and a maximum internal dilution of 1 metre. Reporting of historical assay results is also shown in units of grade x thickness (GT) in order to be consistent with common practice in uranium deposits of this type. Seismic Reflection Program - An orientation seismic reflection survey was designed as two lines - Line 1 to intersect the palaeovalley across strike at East Kalkaroo, and Line 2 to run parallel to, and through the axis of, the interpreted strike length across Line 1 and into the Mining Licence. Source and receiver station spacings were a nominal 5m each, designed according to the shallow depth of the target horizon (i.e., approximately 120 - 130m to base of palaeovalley). The seismic source is the commercial IP of Ultramag and was trialled in Australia for the first time on paleochannel uranium deposits during Boss' surveys at Honeymoon in September 2021. Results from orientation Lines 1 and 2 show that the seismic successfully mapped the inner detail of the Eyre Formation (host sediments) and Namba Formation (overlying impermeable cap), as initially theorised. Reflectors identified in the Namba Formation clearly represent the interbedded, impermeable clays and silty-clay layers, whereas the reflectors in the Eyre Formation appear to coincide with known clay-rich and sand-rich horizons. The basement surface and associated fault structures are also clearly visible. Analysis of the seismic data from the southeastern section of Line 2 confirms, when viewed in context with the HRA orebodies, that the bulk of the mineralisation is hosted within the sands of the Eyre Formation as previously modelled. This pattern, together with the existing systems-style exploration model, has subsequently been used to refine the planned drilling for the Fourth Quarter exploration drill campaign. The highly promising results from the trial prompted the addition of Lines 3 and 4 to the seismic program. Line 3 was positioned to cover the axis of the interpreted Yarramba Palaeovalley from Jason's South in the north to the Brooks Dam North Extension in the south. Line 4 was completed over the central axis of the Jason's Deposit which forms one of the two satellite JORC resources outside of the HRA.