Dacian Gold Limited reported the latest intersections below the Jupiter mining complex in its Phase 2 drilling activities at the Jupiter extension program. The completion of the Phase 1 program and a substantial component of the Phase 2 drilling results confirm the potential for significant extension of mineralisation associated with the syenite intrusive system at the Mt Morgans Gold Operation. These strong mineral resource definition and extension drilling results at Jupiter continue to support the potential for increased scale of future operations at Mt Morgans.

The opportunity to include an RC program from the base of the Doublejay open pit has allowed drilling to define continuity of mineralisation from the base of the open pit through to the Jupiter Exploration Target. Jupiter Drilling Results: These results follow the earlier successful drilling from the Jupiter extension program at Ganymede, Heffernans and Doublejay. Diamond drilling was performed from surface at drilling sites located around the DoubleJay existing open pit.

The results provide important mineralisation intercepts, and control on the interpretation and modelling of the Jupiter system, particularly at structural intersections which are interpreted to control emplacement of the wider syenite stocks at Ganymede, Heffernans, and Doublejay (Jenny and Joanne) At the Jupiter Syenite system, the following diamond drilling intercepts were recorded: Drillhole 22JUDD0854: 111.65m @ 1.2 g/t from 405.2m, including 7.6m @ 8.91 g/t from 416.5m, 13.85m @ 1.13 g/t from 503m. Drillhole 22JUDD0866: 59.7m @ 1.1 g/t from 366.3m, including 16.1m @ 1.3 g/t from 388m, 11.1m @ 2.1 g/t from 407m. Drillhole 22JUDD0837: 60.4m @ 0.8 g/t from 314m, including 18m @ 1.2 g/t from 319.1m, 25.5m @ 1.0 g/t from 474m.

Drillhole 22JURD0844: 52.6m @ 1.1 g/t from 428.6m, including 7.4m @ 4.3 g/t from 428.6m, 8.9m @ 1.3 g/t from 443m. In addition to the above results, Mineral Resource definition, and extension Reverse Circulation (RC) drilling from the existing Doublejay and Saddle Open Pit floor has also been completed, with these results demonstrating continuity of mineralisation from the existing Jupiter Mineral Resource2, through to the Jupiter Exploration Target3, which extends below the open pit, through the 400m below surface drilling target, and remains open at depth. At the Jupiter Syenite system, the following reverse circulation drilling intercepts were recorded: Drillhole 22DJRC0029: 298m @ 1.5g/t from 1m, including 16m @ 10.3 g/t from 1m, 23m @ 2.7 g/t from 48m, 55m @ 1.7 g/t from 121m.

Drillhole 22DJRC0012: 207m @ 1.3 g/t from 16m, including 15m @ 9.0 g/t from 66m. Drillhole 22DJRC0031: 143m @ 1.1g/t from 38m, including @ 2.9 g/t from 38m, 14m @ 1.1 g/t from 86m. Drillhole 22DJRC0011: 174m @ 1.0 g/t from 0m, including 15m @ 1.1 g/t from 43m, 5m @ 1.5 g/t from 82m, 7m @ 6.3 g/t from 167m.

Drillhole 22DJRC0004: 88m @ 1.3 g/t from 0m, including 22m @ 3.0 g/t from 46m, Drillhole 22DJRC0014: 56m @ 1.9 g/t from 0m, including 21m @ 3.62 g/t from 35m, Drillhole 22DJRC0009: 100m @ 1.0g/t from 20m, including 33m @ 1.6 g/t from 87m, Drillhole 22DJRC0005: 75m @ 1.2g/t from 1m, including 31m @ 2.4 g/t from 26m, Drillhole 22DJRC0010: 84m @ 1.1 g/t from 54m, including 19m @ 1.5 g/t from 54m, 39m @ 1.1 g/t from 99m. Drillhole 22DJRC0035: 100m @ 0.9 g/t from 90m, including 31m @ 1.1 g/t from 137m, 11m @ 1.96 g/t from 178m. Drillhole 22DJRC0030: 66m @ 1.3 g/t from 36m, including 40m @ 1.8 g/t from 36m.

Drillhole 22DJRC0007: 55m @ 1.7 g/t from 4m, including 51m @ 1.7 g/t from 4m. Drillhole 22DJRC0002: 69m @ 1.0 g/t from 2m, including 37m @ 1.4 g/t from 31m. Drillhole 22DJRC0006: 77m @ 0.9 g/t from 53m, including 16m @ 1.4 g/t from 53m.

Drillhole 22DJRC0003: 54m @ 1.0 g/t from 2m, including 22m @ 1.4 g/t from 39m. Phase 2 drilling of the Jupiter extension program is continuing and is designed to evaluate the Jupiter exploration target across the full strike extent of the Jupiter syenite system, to a depth of approx. 400m below surface.

This phase of the Jupiter extension drilling will conclude during the second quarter, fiscal year 2023. Updated Interpretation, modelling and mineral resource estimation is underway, as a precursor to mining studies, planned for the second half of the fiscal year 2023.