Saturn Metals Limited announced progress on several initiatives designed to accelerate Apollo Hill's development. A Mineral Resource estimation is underway using updated drilling information, bulk tonnage engineering and block modelling parameters, and the results of ongoing metallurgical recovery work. The updated Mineral Resource model is being developed utilising larger selective mining units which reflect the bulk mining methods proposed to realise the potential economies of scale presented at Apollo Hill.

The resource update will be finalised after pit optimisations are completed utilising modified gold recovery factors which will be based on the latest round of column leach tests due to finish in late April 2023. The Company has undertaken detailed design work on a sizeable bulk sample pit shell to target typical Apollo Hill materials and mineralisation for a pilot heap leach pad. This pit design is being used to drive mining related studies including grade control, geotechnical, hydrogeological and a full suite of environmental surveys.

The Company is also concurrently running detailed processing studies including leach pad hydraulics, water management, reagent management, recovery and pad engineering. Subject to receipt of all necessary approvals and a final investment decision, construction of the bulk sample mining and pilot heap leach project is targeted to commence in H1 2024 with commissioning to occur later in H2 2024. The current pit design allows for variable mining scenarios up to 1Mt of ore and waste which will be used to run a full stacking height heap leach trial.

The Company is planning to operate this pilot program contiguously with its planned DFS for a full-scale project and expects that the real-world data generated form the pilot project will support a robust study and a substantially de-risked project. The process is designed to add valuable insights into full scale mining and mineral processing, act as a pseudo pre-commissioning phase and aid in providing important study information across a full spectrum of project inputs (environmental, geotechnical, mining engineering, hydrogeology). In addition, the pilot plant process is critical for stakeholder and shareholder engagement as continue to develop Apollo Hill's full potential.

The bulk sample pit illustrated has been designed within a central area of the greater mineralised envelope. This centralised design will also allow the Company to evaluate `roll-on' or expansion pit options as progress towards full scale development. The information for the Mineral Resource included in this report is extracted from the report entitled (Apollo Hill Gold Resource Upgraded To 1.47Moz) created on 2 May 2022 and is available to view on the Saturn Metals Limited website.

Saturn Metals Limited confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. Saturn Metals Ltd. confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement. Apollo Hill (29.15°S and 121.68°E) is located approximately 60km south-east of Leonora in the heart of WA's goldfields region.

The deposit and the Apollo Hill project are 100% owned by Saturn and are surrounded by good infrastructure and several significant gold deposits. The Apollo Hill Project has the potential to become a large tonnage, simple metallurgy, low strip open pit mining operation. In addition, Saturn has a second quality gold exploration project in Australia.

The Company has an option to earn an 85% joint venture interest in the West Wyalong Project, which represents a high-grade vein opportunity on the highly gold prospective Gilmore suture within the famous Lachlan Fold belt of NSW.