Marmota Limited recently reported that a single isolated wildcat hole, in the first drilling carried out by any company ever on the Comet (West) Tenement EL6084, located south of Aurora Tank, intersected gold (1.3 g/t over 4m composite). Marmota is very pleased to advise assay results from detailed 1m splits. Importantly, the new detailed assays from 1m splits have: confirmed the gold intersection at the wildcat hole on Comet, and substantially increased the grade to 7.7 g/t over 1m (at 47m from surface).

Accelerated Discovery Initiative (ADI) Program on Comet: First drilling ever (apparently by anyone) on the Comet (West) tenement EL 6084. 7 reconnaissance holes were drilled on Comet as part of ADI program in June 2022. Potential for a new discovery.

Hidden at surface: no gold-in-calcrete expression of gold at surface. Marmota drilled 7 reconnaissance holes on the Comet (West) tenement. One of the holes [ Hole 22ADIRC017 ] intersected significant gold at 47m downhole, returning 7.7 g/t gold over 1m.

The above exploration work is jointly funded by the SA Government under a $225,000 grant awarded to Marmota under the Accelerated Discovery Initiative (ADI). The program involved a small number of holes drilled on two tenements located to the south of Marmota's Aurora Tank gold discovery (Woorong Downs and Comet). As far as Marmota is aware, this program included the first ever exploration drilling by any company on the Comet (West) Tenement (EL6084) located south of Aurora Tank.