Lefroy Exploration Limited reported on the second batch of Au assay results for the Burns Resource drill-out program currently underway at the Burns Copper (Cu)/Gold (Au) Project, which is within the Company's wholly owned Eastern Lefroy Gold Project located 70km southeast of Kalgoorlie. Burns is an intrusion-related Au-Cu-molybdenum (Mo) and silver (Ag) mineral system, hosted by multiple diorite-porphyry intrusives and high-magnesium basalt Archaean-age rocks. The Company considers this Au-Cu-Mo-Ag intrusion-related style of mineralisation to be entirely new and unique to the Eastern Goldfields Province (EGP) of Western Australia.

A maiden 22-hole Reverse Circulation (RC) drill program completed in Jan-Feb 2021 intersected a spectacular gold and copper interval in hole LEFR260, containing 38m @ 7.63g/t Au & 0.56% Cu from 134m in diorite porphyry. The results from that RC program provided the geological and geochemical data that highlighted the unique geological characteristics of Burns and are a key guide to subsequent and ongoing exploration activity. Further targeted aircore, RC and diamond drilling at Burns since January 2021 has established a broad footprint to the system that extends beneath Lake Randall, with the limits of mineralisation still to be fully defined.

The system may extend for 2000 metres or more along strike, based on drilling between Lovejoy in the north and the main Burns Central area in the south. Reverse Circulation (RC) Resource Drill Program: In October 2022, the Company commenced the Burns Resource drill-out program of 15,000 planned metres to evaluate the Burns Central system to 200 metres vertical from surface and over 700 metres of strike. The data from this program, when combined with previous drilling data, will support the compilation of a mineral resource estimate to be finalised in first quarter of 2023.

To date, 51 holes for 12,798 metres have been completed, both onshore (land-based) and offshore on Lake Randall (salt-lake based). Drill spacing is a nominal 40 metre by 40 metre grid pattern, with angled holes planned to a nominal final hole depth of 250 metres. The drill program is designed to evaluate the three key geological domains at Burns Central being the Central Porphyry, Western basalt, and Eastern deformation zone.

Gold only assay results have been returned for three drill holes, LRR001-003, collared to follow up multiple mineralised gold and copper intersections identified in previous aircore drilling. The previous aircore drilling on Lake Randall 160m to the north of discovery hole (LEFR260), included significant mineralised intercepts of: 16m @ 3.79 g/t Au from 20m in LEFRA1088; including 8m at 7.31 g/t Au from 20m; 24m @ 2.86 g/t Au from 16m to End-of-Hole in LEFA1089; including: 16m @ 4.04g/t Au from 20m. Importantly hole LEFA1089 ended in gold and copper mineralisation that included 8m at 1.91g/t gold and 0.31% copper from 32m to the end of hole.

These results and those from other holes immediately northeast of the discovery section demonstrate the wider footprint of the Burns system. The three holes reported in this release (LRR001-003) were completed to a final downhole depth of 252m and returned multiple consistent, broad zones of gold mineralisation hosted by altered basalt and porphyry. Significantly, hole LRR003 returned an outstanding interval of gold mineralisation of 103m @ 1.65 g/t gold from 25m, including 38m @ 3.83 g/t gold from 26m.

Holes LRR001 and LRR002 returned lower tenor anomalous gold results over 18m downhole intervals, primarily located within the oxide zone. This mineralisation is interpreted to form part of flat lying supergene zone. The new high-grade intersection in LR003 of 38m @ 3.83 g/t gold from 26m is hosted by fractured diorite porphyry.

The Company interprets this fractured zone to be part of a north-south trending structure that is currently considered to link to the mineralisation in discovery hole LEFR260 located 160m to the south, that contains 38m @ 7.63g/t gold and 0.56% copper from 134m, which is also hosted in diorite porphyry. Drill hole, LRR003 supports and confirms the Company's structural interpretation of a high-grade south-plunging mineralised gold and copper shell that coincides with a north-south structural zone of at least 400m strike that is open in both directions across the shoreline of and into Lake Randall. Based on anomalous copper values intersected in multiple adjacent drillholes including the discovery hole LEFR260, aircore hole, LEFA1089 and others including RC hole, LEFR285 which returned a best copper intercept of 19m at 0.18% copper from 44m the Company anticipates these new gold intersections will be supported by additional elevated copper assays, which are pending.

Multi-element results, including copper and silver assays, are expected in January 2023 (subject to laboratory turnaround).