Gibb River Diamonds Limited announced that the Phase 8 drill program at the Edjudina Gold Project, WA (GIB 100%) is scheduled to commence in the first week of August 2022. This Aircore drill program will test areas around the Neta Prospect which are still undrilled and will also target areas under transported cover for new discoveries. During the month of June, GIB geologists conducted reconnaissance mapping over the northern part of the Edjudina line of workings.

This resulted in a number of drill targets being identified for follow-up reconnaissance drilling, including targets close to the Neta discovery. Re-interpretation of the geomorphology has opened up new areas for exploration. The fine sand/clay sequence which covers much of the Edjudina valley is now considered to be wind- blown in origin (aeolian) and this material provides significant areas of cover with the potential to conceal areas of mineralisation.

Most areas of known and intense mineralisation (eg Neta) at Edjudina outcrop at surface, forming small, low islands of mineralisation in a `sea' of aeolian sands and clays. This preferential outcropping of mineralisation is in large part due to the strong calcretisation which is derived from the carbonate alteration associated with the gold mineralisation. GIB is now targeting areas which may be strongly mineralised, but which do not outcrop.

This may be due to a low-carbonate alteration style, deeper aeolian cover or other geomorphological factors such as alluvial cover, weathered calcrete etc. An extensive soil geochemical database is available to GIB and this associated with recent mapping has generated a number of new targets which will be tested during the Phase 8 Aircore drill campaign. Concurrently with the recent mapping, rehabilitation of previous drilling took place during June.