All assays from the drilling campaign have been received, and reflect the overall stringer, vuggy and disseminated nature of the sulphide mineralisation observed in the core. Stringer and vein mineralisation returned values of up to: BCRDD-009 - 0.8 m at 12.4% Zn and 3.7 g/t Ag from 56.2 m downhole; BCRDD-002 - 1.02 m at 4.9% Pb, 0.4% Zn and 2.1 g/.t Ag from 94.69 m downhole. Initial drilling concentrated on a small section of the historic mining area (880m strike length), around the historic centre of activity.

However, mineralisation and workings are known over a strike length of up to 4.5km, and potentially extends further over some 9-10km to other historic mining areas believed to be along the same trend. The mineralisation is hosted with a fault-controlled breccia (matrix quartz and carbonates) that is parallel to a trend of faults within the area that joins up several of the historic mining areas along a NW-SE trend. The mineralization intersected during the drilling indicates stringers, blebs and disseminated mineralisation located directly below the historic mining area, where massive, semi-massive and stringer mineralisation was reportedly mined.

This suggests that the high-grade lead and zinc sulphide mineralisation could be sporadic with higher-grade mineralisation (semi-massive to massive) within the broader, low-grade disseminated zones, along with stringers and vugs. Minor (<1m wide) breccia zones parallel to the main zone were intersected during the drilling, and most likely represent the reported parallel system from historic reports and inferred from the ground magnetic survey. Although, only thin mineralised stringers were intersected during the drilling campaign within these parallel zones, historical mining records show the presence of mineralised zones parallel to the main zone, and again most probably associated with a breccia zone of variable thickness along strike and down-dip.

The marker horizon (Win sill- micrograbbroic intrusive) was also intersected in many of the holes and most likely intruded along the same structure the mineralised breccia intruded along. From the available historical data as well as from the drilling results it appears that the mineralisation is irregular with variation in grade and mineralised widths along strike and down dip. The historical reports and sections indicate concentrated workings at irregular intervals along strike, possibly targeting higher-grade and wider zones identified near surface.

This is supported by variation in the thickness of the breccia intersected by the drilling, both down dip and along strike. From this drilling, thin high-grade stringers have been intersected beneath the main workings, although the possibility of wider high-grade mineralized portions of the orebody at depth at Blackcraig and or along the ~3.5 km strike continuation remains untested. This working model can only be verified through a more detailed analyses of the structural setting in the area, possibly surface and downhole geophysics, and additional deep drilling beneath the old underground mine workings and along strike.

It is believed that the mineralisation style and type at Blackcraig is representative of the lead-zinc-silver mineralization in the region, particularly along the Blackcraig-Pibble and Greymares Tail trends within the licences. The understanding of mineralisation styles and controls at Blackcraig will be used as part of the targeting plan for future exploration efforts. The Company is currently reviewing the data in more detail and leveraging modern exploration technologies with the aim of establishing which exploration methods may be best suited to vector towards possible high-grade massive sulphide mineralisation (specifically targeting zinc ± silver) within the known trends.

The UK Government's Net Zero Strategy proposes the reduction of emissions to meet upcoming carbon budgets defined by the Climate Change Act, reduction of Greenhouse Gas emissions under the Paris Climate Agreement, and the vision for a decarbonised economy by 2050. This transition will rely heavily on green and critical commodities to help support the energy transition. In parallel, the demand for copper (e.g., electricity grid), lithium, graphite, nickel, cobalt and zinc (e.g., electric vehicle batteries, energy storage), and platinum and palladium (e.g., hydrogen fuel cells, carbon capture) amongst others will increase, and Walkabout's early exploration activity aims to secure local supply of critical metals/minerals that facilitate decarbonisation pathways in a sustainable and ethical way.

The Scotland Projects consists of three licences covering approximately 744km2 of highly prospective ground located in southwest Scotland. These areas are known for their historic mining (lead-zinc-silver), and aside from the current maiden drill program at Blackcraig, have not undergone any modern systematic mineral exploration since a regional program was conducted by the British Geological Survey (BGS) in the 1970-80's when several anomalies were identified in addition to the numerous old mines and historical mineral shows in the region. A review of historic data and reconnaissance exploration by Walkabout has identified several prospective areas for both precious and base metals, including two drill-ready projects, the first of which was drilled during Quarter 4 2021 and Quarter 1 2022.