Spectrum Metals has announced further high-grade results from the extensional RC drilling at Penny North and the first diamond drill core intersection through the Penny North lode. Key Points Results were received from four new holes. Significant intersections include: SPWRC096 -6m at 11.1g/tgoldfrom 319m, including 2m at 32.5g/t goldfrom 322m SPWRC082 -6m at 10.0g/tgoldfrom 348m, including 2m at 28.3g/t goldfrom 348m. SPWRC092 -2m at 5.8g/tgoldfrom 248m, including 1m at 9.8g/t goldfrom 248m, and 4m at 7.4 g/t goldfrom 256m, including 1m at 21.2 g/t goldfrom 258m Spectrum has also completed its first diamond drill hole into the Penny North Lode. SPWDD003 intersected the Penny North lode on target at 221m downhole with abundant sulphide and quartz over a main lode width of two meters. Core will be processed in due course. Additional high-grade results from Penny North Spectrum Metals has received further intersections from the Penny North lode from extensional drilling down plunge of the existing high-grade shoot. SPWRC082-6m at 10.0g/t gold from 348m,including 2m at 28.3g/t gold from 348m. SPWRC092-2m at 5.8g/tgold from 248m,including 1m at 9.8g/t gold from 248m, and 4m at 7.4 g/t goldfrom 256m, including 1m at 21.2 g/t goldfrom 258m SPWRC096 -6m at 11.1g/t gold from 319m,including 2m at 32.5g/t goldfrom 322m and 1m @ 8.38g/t goldfrom 315m. These results have extended the mineralisation extents further south down plunge and further down dip with the deepest hole yet drilled into the Penny North lode. The intersection in hole SPWRC082 of 6m at 10.0 g/t gold including2m at28.3g/t goldfrom 348m is located at a downhole depth of 348m and lies approximately 80m below the hole immediately up dip. The high-grade shoot within the Penny North lode remains open down plunge and down dip. First Diamond Drill hole completed into Penny North Spectrum are very pleased to announce the commencement of diamond drilling at the Penny West Project, with the first of four(4) designed diamond drill holes having been completed. The first hole, SPWD003 intersected the main lode structure at 221.0m downhole with the main structure being 2.0m in length. The lode comprises mostly a quartz lode with abundant, occasionally, massive sulphide assemblages dominated by pyrite and pyrrhotite. Abundant galena occurs at sulphide assemblage margins. In some areas the sulphide resembles a sulphidic breccia.Of particular interest is the competency of the core. The competency in the hanging wall was extremely good and this characteristic occurred all the way through the mineralised zone also. As a general comment, in any mining scenario, highly competent rock masses generally reduce costs and reduce the potential for mining dilution in underground mines, particularly if thereis a high degree of competency in the hanging wall. Mineralised structures found north and south In addition to the extensional RC drilling and the diamond drilling at Penny North, Spectrum has also completed a number of holes to the north and south of the known mineral extents. At Penny South, Spectrum has drilled 11 RC holes to test the Penny West structure to the south of the open pit. In most holes, Spectrum intersected the mineralising structure at the anticipated downhole location, confirming the predictability of the orientation of the host structure. The best intersection at Penny South was in hole SPWRC078 with2m at 17.1 g/t goldfrom 76m. Of the remaining holes, eight (8) intersected the lode with a best intersection of 1m at 2.7 g/t goldfrom 129m in hole SPWRC084. One hole, SPWRC089 has assays pending and holeSPWRC086A did not reach target depth due to drilling conditions at the top of the hole. Additional holes have been designed. Spectrum has also completed four (4) RC holes to the north of the Penny North lode(Holes SPWRC098 to SPWRC101). Two holes intersected a mineralised structure with intersections of 3m at 0.80 g/tgoldfrom 145m in hole SPWRC098 and 3m at 0.50 g/t goldfrom 164m in hole SPWRC100. Two holes (SPWRC099 and SPWRC101) have assays pending. At this point,it cannot be determinedwhether the mineralised structure intersected is the same structure that hosts the mineralisation at Penny North. Further holes have been designed to get a better understanding of the stratigraphy in this area. Further work planned Spectrum intends to complete the infill diamond drilling work as a matter of priority, which aims to: Fill in gaps within the existing RC drilling program to get better drill coverageProvide reference material to undertake petrophysical studies and spectral studiesTo get a better understanding of the geology of the entire stratigraphic sequenceTo ascertain the competency of the rock mass across the stratigraphy and within the lode.Additional RC and diamond holes are planned to keep extending the Penny North lode in addition to assessing the potential of the Penny West Shear Zone to host additional high-grade shoots.