Investigator Resources Limited provided this release in relation to advances in negotiations with Native Title groups within a number of key ground holdings in South Australia. Investigator hold over 8,500km2 of tenements across South Australia. Focus has been on the 100% owned Paris Silver Project, located 70 kilometers north of the rural township of Kimba on South Australia's Eyre Peninsula.

Paris is a shallow, high-grade silver deposit that hosts a Mineral Resource estimate of 18.8Mt silver at 88g/t for 53.1Moz of silver at a 30g/t cutoff. With positive Pre-Feasibility Study outcomes reported in November 20212, the company is undertaking work towards completion of a Definitive Feasibility Study. With access now available exploration across adjacent significant ground holdings within South Australia will be advanced.

Native Title Mining Agreements (NTMA): The negotiation of a Native Title Mining Agreement is a requirement under Part 9b of the Mining Act 1971 (South Australia) and requires an exploration licence holder to not perform any mining operations that affect Native Title unless they are authorized by a NTMA under Part 9b, or authorized by an Environment Resources and Development Court determination, or have a registered Indigenous Land Use Agreement (ILUA) under the Native Title Act, or there is a state or Commonwealth declaration that the relevant land is not subject to Native Title. Gawler Ranges Aboriginal Corporation (NTMA): The NTMA agreement between Gawler Resources Ltd, a 100% owned subsidiary of Investigator Resources Ltd. and the Gawler Ranges Aboriginal Corporation RNTBC was signed on 3 November and formally registered by the Department for Energy and Mining on 12 December, 2022. The NTMA agreement includes, either wholly or in part, the following Exploration Licences: EL6725 - Yardea; EL6753 - Nonning South; EL5845 - Uno Range; EL5913 - Harris Bluff; EL5933 - Morgans; EL6853 - Lake MacFarlane (formerly ELA2022/00043).

Registration of the NTMA with the Department for Energy and Mining ensures a process is in place to allow exploration activities to occur within the tenements within GRAC Native Title determination area. This includes allowance for heritage clearance surveys in advance of drilling programs. Whilst Investigator Resources has been able to undertake some exploration activities within the Uno and Morgans tenements (EL5845 and EL5933) under a former ILUA agreement, these tenements have now been amalgamated into a uniform NTMA agreement with other recently granted ground holdings. Open file historic data reviews have occurred on all recent ground and internal prospectivity assessment and exploration models developed for assessment during work programs in 2023 and beyond.

Early stage work on newly acquired tenements will include ground reconnaissance mapping, selective soil sampling and potential geophysical surveys. Investigator regards tenements within the NTMA agreement as having potential for Gold/Silver/Base Metal (akin to Paris) in addition to potential for copper within the Stuart Shelf. Wilyakali Native Title Group (NTMA): After a prolonged negotiation period of approximately 4 ½ years a Native Title Mining Agreement was executed on 16 November 2022 and formally registered with the Department for Energy and Mining on 12 December 2022 between Gawler Resources Ltd. (100% owned subsidiary of Investigator Resources Ltd) and the Wilyakali Native Title Group who are registered claimants for the area covered by the exploration licences within the agreement.

The NTMA agreement covers the following tenements within the Curnamona Province which is located adjacent to the New South Wales border near Broken Hill: EL5938 Wiawera; EL6253 Olary; EL6345 Treloars.