TORN RESO : MS-Viserion Significant High Grade Gold Extensions

ASX RELEASE

Asra Minerals Limited (ASX:ASR) advises that the company's ongoing drilling campaign at its flagship Mt Stirling Project in Western Australia's Eastern Goldfields has returned further significant high grade gold intercepts, continuing to extend mineralisation beyond previous resource boundaries.

Ahead of announcing a new Global Mineral Resource Estimate (MRE), the company has targeted multiple gold zones and targets, and reports the following intercept highlights from the most recent batch of assays received from the MS Viserion gold system:

1840N 1m @ 5.03 g/t Au from 5m (MSRC277)

7m @ 2.36 g/t Au from 253m; inc 1m @ 5.30 g/t Au from 258m

1920N 2m @ 6.43 g/t Au from 16m (MSRC304); inc 1m @ 11.86 g/t Au from 17m

In addition to an endowment of clean heavy rare earths and critical minerals, the Mt Stirling Project hosts a current JORC compliant total mineral resource estimate of 118,400 gold ounces1 and lies 8km northwest of Red 5's (ASX:RED) King of Hills gold mine, which has produced more than 1 million ounces of gold to date.

Drill data compilation for the upcoming MRE has been submitted to geological consultants BMGS with the bulk of resource assays now received. A further two MS Viserion drill holes (MSRC302 & MSRC308); one further Mt Stirling drill hole (MSRC297) and one Skywing drill hole (MSRC233) are awaiting assays, with down-hole density surveying of selected drill holes completed.

Asra's Executive Director, Mr Peretz Schapiro, said the company took advantage of favourable turn-around of assays to enable as much drilling as possible into the eagerly anticipated Global MRE which should have preliminary data reported by mid-next week.

"It is important to include as much information as possible into the coming MRE, as it guides us and helps us plan our continued on-going exploration and proposed mining activities," Mr Schapiro said.

1 Refer ASX release dated 27 May 2021 for more information

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Table 1: Mt Stirling Project - RC drilling summary

Assays from the Stirling Well gold deposit were received for 13 extensional drill holes, with results compilation for release progressing. A total of 48 drill holes at Stirling Well are expected to be included in the updated Stirling Well MRE.

A further Skywing drill hole is awaiting assays, with results to follow.

Assays from drilling down dip of the high-grade Estera mineralised zone at Diorite have also been received, with results compilation progressing and plans for follow up drilling being prepared.

Table 2: 2020 - 21 Discovery Summary Table

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