Hillgrove Resources Limited (Hillgrove, the Company) (ASX: HGO) is pleased to provide the following Nugent drilling update, located at Kanmantoo 55kms southeast of Adelaide in South Australia.

In total, 24 diamond holes have been drilled in 2021-2022 for 8,186.8 metres of drilling.

Overall, this has been a very successful drilling program that has infilled the Inferred Resources and has increased the mineralisation footprint. Drill holes such as KTDD230 with 14.5m @ 1.8% CuEq and 14.8m @ 1.3% CuEq demonstrate that the Nugent zone is strongly continuing to the south. Drill holes at depth, including KTDD231 with 9.15m @ 2.1% CuEq demonstrate that the Lode is still open to depth.

Commenting on the drilling results, Hillgrove CEO and Managing Director, Lachlan Wallace said: 'The drilling results confirm the Nugent system extends beyond the previous Mineral Resource Estimate both along strike and at depth. We are looking forward to getting these drill results into the resource model, which we expect will increase in both size and geological confidence, and then into the mine plan. In addition, it was very pleasing to see the strong drilling results at depth and to the south, which remain open and provide excellent opportunities to further increase the mineral inventory

Contact:

Mr Lachlan Wallace

Tel: +61 (0)8 7070 1698

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