Crater Gold Mining Limited announced that the helicopter borne Electro-Magnetic Survey (HEM), combined with aeromagnetic surveying, over all 5 of its Queensland based tenements at Croydon, as advised in announcement dated 18 July 2022, has been completed. The contractor engaged for the survey was New Generation Geophysics (NRG) utilising their Airborne Electromagnetic (AEM) system, Xcite. Interpretation results are anticipated in the ensuing weeks, with follow-up exploration to begin soon after.

The Company holds five Exploration Permits Mining (EPM) in the Croydon region of North Queensland for a combined area of 227.2 km square. The EPMs cover 5 priority aeromagnetic anomalies (A1, A2, A3, A5 and A6) interpreted from Government aerial surveys and 3 residual gravity anomalies (G1, G2 and G3) identified from a combination of Government regional ground surveys and detailed ground surveying by the Company.