Crater Gold Mining Limited (ASX:CGN) is pleased to announce that an agreement has been signed with DRC Drilling Pty ltd to undertake the next drilling program at the Company's Croydon Projects in North Qld due at the end of April/ beginning of May.

Last year's drilling program culminated in 4 (four) graphite discoveries at the Company's S1-S, S4 & S7 anomaly areas (refer ASX announcement titled 'Four New Graphite Discoveries from RC Drilling Results at Crater Gold Mining's Croydon Project' dated 30 March 2023).

In addition to follow up drilling at these areas, the Company will be undertaking drilling at other anomaly target areas. The program will mainly involve diamond drilling. The program will also include drilling at the Company's Polymetallic areas.

The details of the drilling program will be announced closer to the start date of the drilling. This announcement was authorised for release by Russ Parker, Managing Director of Crater Gold Mining Limited.

Contact:

Russ Parker

Tel: +618 8188 8181

Email: info@cratergold.com.au

COMPETENT PERSONS STATEMENT

The information contained in this report relating to exploration activities at Croydon is based on and fairly represents information and supporting documentation prepared by Mr Ken Chapple or by appropriately qualified company and consultant personnel and reviewed by Mr Chapple, who is an Associate Member of The Australasian Institute of Mining and Metallurgy and a Fellow of the Australian Institute of Geoscientists. Mr Chapple has sufficient experience relevant to the style of mineralisation and type of deposit involved to qualify as a Competent Person as defined in the 2012 JORC Code. Mr Chapple is an independent principal geological consultant with KCICD Pty Ltd and consents to the inclusion in this report of matters based on his information in the form and context in which it appears.

Forward Looking Statements: This Announcement contains certain forward looking statements. The words 'anticipate', 'believe', 'expect', 'optimism', 'project', 'forecast', 'estimate', 'likely', 'intend', 'should', 'could', 'may', 'target', 'plan', 'encouraging', 'significant' and other similar expressions are intended to identify forward looking statements. Forward-looking statements are subject to risk factors associated with the Company's business, many of which are beyond the control of the Company. It is believed that the expectations reflected in these statements are reasonable at the time made but they may be affected by a variety of variables and changes in underlying assumptions which could cause actual results or trends to differ materially from those expressed or implied in such statements. There can be no assurance that actual outcomes will not differ materially from these statements. You should therefore not place undue reliance on forward-looking statements.

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