The Capricorn Board announced that the more than 104,000 metres of RC drilling completed and assayed at the wholly owned MGGP since January 2022 has delivered a substantial increase in the MRE from 2,083,000 ounces to 2,755,000 ounces. The Orion area is a significant component of the MGGP resource. The following long section of Orion shows the broad mineralisation throughout the resource in the area and the growth of the resource since the 2021 MRE.

The lack of drilling below the current resource shell is indicative of the significant opportunity to add to resources with further drilling. Assays have been received from 94 holes (13,113 metres) of the ongoing RC resource definition and extension drilling since the October 2022 exploration update continue to return exceptional results including: Received after cut-off date for Resource Estimate (ie not included in MRE): 6 metres @ 12.77g/t from 234 to 240m, 10 metres @ 5.28g/t from 226 to 236m, 27 metres @ 1.80g/t from 155 to 182m, 14 metres @ 2.92g/t from 187 to 201m, 5 metres @ 3.70g/t from 139 to 144m, 3 metres @ 5.01g/t from 126 to 129m, 13 metres @ 1.07g/t from 157 to 170m, 5 metres @ 2.42g/t from 181 to 186m. Included in Resource Estimate Database: 11 metres @ 6.07g/t from 150 to 161m, 8 metres @ 4.98g/t from 243 to 251m, 19 metres @ 2.03g/t from 50 to 69m, 3 metres @ 11.02g/t from 45 to 51m, 9 metres @ 3.34g/t from 45 to 54m, 13 metres @ 2.00g/t from 180 to 193m, 14 metres @ 1.84g/t from 139 to 154m, 4 metres @ 5.50g/t from 87 to 91m.

The assay results received after the cut-off date for the MRE will be included in the next update of the MRE. As noted above, the strong results that continue to be returned and the shallow average depth of resource shells encourages Capricorn to continue resource extension drilling, parallel with Ore Reserve, development studies and permitting.