Saturn Metals : Regional Exploration Gold Results

ASX Announcement 31 March 2022

REGIONAL EXPLORATION GOLD RESULTS -

10KM ALONG STRIKE OF APOLLO HILL

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Saturn Metals is completing reconnaissance drilling across its large under explored land package. This is part of the Company's strategy to find complementary deposits at the soon to be updated Apollo Hill Mineral Resource which currently stands at 944,000 ounces1. Early-stage exploration is yielding promising geology and results across the greater Apollo Hill system.

HIGHLIGHTS

Artemis - 10km north-west of Apollo Hill

• • Regional reconnaissance exploration Aircore (AC) drilling completed in early 2022 has highlighted an exciting new prospect at Artemis, 10km northwest of the Apollo Hill Mineral Resource (35.9Mt @ 0.8g/t Au for 944,000 oz of gold1) (Figure 1).

• • Drillhole AHAC0672 intersected 4m @ 4.08g/t Au from 40m within 33m @ 0.73g/t Au from 24m

• • Artemis is located directly along strike from Apollo Hill, highlighting the potential for additional discovery in the expansive, largely untested corridor between the two prospects.

• • Mineralisation is associated with prospective geology (quartz veining and shearing in bed rock).

• • The width and grade of the AHAC0672 intersection is similar to some zones in the Apollo Hill deposit.

• • Mineralisation remains open for additional drill testing.

Bob's Prospect - 7km east of Apollo Hill

• • A step out AC program was completed at Bob's prospect in February with the aim of extending the mineralisation system defined in late 2021 (including Reverse Circulation (RC) intersections of 5m @ 6.82g/t Au from 130m - AHRC0825).

• • New results (Figure 1), effectively provide a strike length increase of 600m in both the north and south directions and include:

  • • 4m @ 0.68g/t Au from 64m - AHAC0597

  • • 4m @ 0.47g/t Au from 84m - AHAC0536

  • • 4m @ 0.41g/t Au from 130m - AHAC0541

Follow Up Work Commenced

• • A follow up 5,000m, fifty-hole AC and RC extensional drilling program is planned around significant intersections at Artemis and Bob's.

• • AC drilling has re-commenced at Artemis.

• • RC drilling has re-commenced at Bob's and assays are pending for four RC holes completed to date.

1 Details of the Mineral Resource which currently stands at 35.9 Mt @ 0.8 g/t Au for 944,000 oz Au and a breakdown by category are presented in Table 1a (page 7 of this document) along with the associated Competent Persons statement and details of the ASX announcement that this information was originally published in.

Saturn Metals Limited ABN: 43 619 488 498

9 Havelock Street, West Perth WA 6005

ASX: STN

www.saturnmetals.com.auinfo@saturnmetals.com.au

Saturn Metals Limited (ASX:STN) ("Saturn", "the Company") is pleased to announce significant results from reconnaissance and step out AC drilling across its 100% owned, 1,000km2 Apollo Hill Gold Project, 60km south-east of Leonora in the Western Australian Goldfields.

Artemis

Figure 1 shows a plan of significant results at Artemis. Results are located 10km along strike to the northwest of the Apollo Hill on the geological corridor termed the 'Apollo Hill Super Structure'.

Drilling at Artemis is still widely spaced with the AHAC0672 4m @ 4.08 g/t Au result being returned on a single fence line traverse program of 100m spaced holes. The closest drilling along strike towards Apollo Hill is 6km away, where drilling is predominantly historical shallow set depth holes. These set depth holes are deemed to have been largely ineffective as they did not penetrate the cover sequence. Mineralisation therefore remains open. A large, interpreted strike length is available for extensional drilling to build on this initial promising result. An AC rig is onsite.

Figure 2 shows a geological cross section of the Artemis Prospect. The discovery intersection of 4m @ 4.08g/t Au from 40m within 33m @ 0.73g/t Au from 24m in hole AHAC0672 is hosted within sheared rocks similar to those at Apollo Hill. The intersection width and grade are similar to some mineralised zones at Apollo Hill.

Bob's - 7km east of Apollo Hill

Extensional AC drilling has delivered 600m strike extensions to the mineralised system at both the northern and southern end of Bob's (Figure 1). Results including 4m @ 0.68g/t Au from 64m in AHAC0597 have been returned underneath a relatively shallow cover sequence (Plate 1).

Focus has now shifted to additional RC drilling to target underneath previous significant intersections including 5m @ 6.82g/t Au from 130m - AHRC0825, 5m @ 3.15g/t Au from 168m - AHRC0827 and 8m @ 1.04g/t Au from 153m - AHRC0822 (see Saturn ASX Announcement dated 27 January 2022). Assays are pending for four RC holes completed to date (hole details listed in Appendix 2).

Plate 1 - AC Drilling at Bob's Prospect- 7km east of Apollo Hill

New Regional Intersection 2km East of Bob's

In addition, an intersection of 4m @ 0.33g/t from 56m was returned in basalts and sediments in AC hole AHAC0628 drilled 2km to the east of Bob's on an access track (Figure 3). Further work is planned to investigate this standalone anomaly where drilling along the track remains widely spaced.

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Appendix 1 lists significant intersections received from 191 holes and 13,000m of drilling reported in this announcement over regional targets on the Apollo Hill project leases (Figure 3). Appendix 2 lists relevant hole details.

Saturn Managing Director, Ian Bamborough said: The results at Artemis are highly significant as they could be the first step towards locating another deposit with resource grade mineralisation near Apollo Hill. Artemis exhibits several favourable geological ingredients and is located on the interpreted Apollo Hill Super Structure. Follow up AC drilling is underway at Artemis and RC drilling is planned.

The mineralised footprint at Bob's is now 4km long. Assays are pending for follow up RC drill holes completed down plunge of several highly significant intersections.

This announcement has been approved for release by the Saturn Metals Limited Board of Directors.

IAN BAMBOROUGH

Managing Director

For further information please contact:

Ian Bamborough

Managing Director Saturn Metals Limited +61 (0)8 6234 1114info@saturnmetals.com.au

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Figure 1 - Plan of significant Aircore results at Artemis and Bob's (10km along strike and 7km to the east of Apollo Hill respectively), Saturn Metals tenement outline and significant prospects on aerial image background.

(a) This diagram contains exploration results and historic exploration results as originally reported in fuller context in Saturn Metals Limited's ASX Announcements as published on the Company's website. Saturn Metals Limited confirms that it is not aware of any new information or data that materially affects the information on results noted.

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