Velocity Minerals Ltd. announced that drilling has restarted at the Iglika copper-gold property ("Iglika" or the "Property"), located in southeast Bulgaria. The drill program is fully funded by Dundee Precious Metals Inc. ("DPM"). Phase II Drilling Highlights.

The phase II drill program is planned at approximately 7,000m of drilling in 13 drill holes, with 2,500m planned to be completed by year end and the remainder in First Quarter 2024. The drilling campaign is simultaneously focused on testing geochemical and geophysical targets as well as establishing geological stratigraphy on the property, with drill holes planned to reach a maximum depth of 1,000m. Drilling completed in August 2023 totaled 3,275m, which together with the current Phase II will total approximately 10,075m.

The property has potential for multiple mineral deposit types including copper porphyry, copper skarn, and epithermal gold. Surface exploration completed at the Property to date includes approximately 610 rock samples, 2,750 soil samples, 2,300 multi-horizon soil samples, 600-line km of magnetic data, 110- line km of induced polarization, and 15,000 radiometric measurements. This work, together with extensive mapping and prospecting, has identified multiple target areas for drill testing.