Catalyst Metals Limited announced more strong drilling results which support its strategy to increase the inventory and production rate at its Henty Gold Mine in Tasmania. The results are important because they extend the known mineralisation at Henty's Darwin deposit, which has historically produced c. 650,000oz. These results will form part of a Resource update expected to be completed in the January quarter of 2023. Catalyst is currently completing an updated mine plan based on the existing resource of 357,000oz at 4.5gpt. This is expected to include a greater proportion of the Resource in the mine schedule, which would have the benefit of allowing an increase in the production rate and in turn reduce mining unit costs. It would also enable Catalyst to further leverage the existing production infrastructure at Henty, which includes a 300,000tpa plant, and amortise the high percentage of fixed costs across an increased production base. Catalyst has four underground rigs and one surface rig now drilling at Henty. Drilling Details: Drilling was carried out at Darwin and in the newly named Cradle Zone (representing an area about one kilometre long and 400 metres vertically lying south of Intermediate Zone and up dip of Zone 15, Newton and Tyndall. Programs at Sill Zone and zone 96 were also completed during the period. Cradle zone results will be reported separately. Drilling focussed on the Darwin North and South areas and has indicated excellent down dip potential on the Darwin South Zone. Because of the proximity of the decline to the ore zones, this area has not been adequately tested but contains some high-grade intersections. Development of the deeper sections of Darwin South will enable drilling of this highly prospective area. Wide intersections of high-grade gold in Darwin South have the
potential to increase the tonnes and grade of the current resource. Drilling results listed below and in Appendix 1 are a combination of drilling outside of the current resource wireframes, drilling to upgrade Inferred Resources and definition drilling prior to mining. Many of the intersections are beyond the limits of the 2021 Mineral Resource Estimate model and have the potential to contribute to an increase in Resources and Reserves as well as a higher gold grade in future production profiles.