Great Southern Mining Limited - Drilling Recommencing at Duketon Gold Project

About this update from Great Southern Mining Limited

Great Southern Mining Limited (ASX: GSN) ('GSN' or the 'Company') plans to recommence drilling in August 2024 at its 100% owned Duketon Gold Project ('Duketon' or the 'Project'), located in the Eastern Goldfields of Western Australia . Drilling will initially focus on the Golden Bolder prospect, then test newly defined targets within the Project area. This drilling follows on from an intensive phase of target generation and ground truthing involving both incumbent GSN geologists and consultant geologists with a vast knowledge of gold mineralisation styles in the Duketon Belt (refer to GSN ASX announcements dated 5 May 2024 and 18 January 2023). A number of soil geochemistry surveys have been completed at Duketon as part of the Company's ongoing target generation and target refinement strategy. New gold anomalies have been defined in the northeast of the Amy Clarke prospect along the interpreted Garden Well mineralised trend (host to Regis Resources' 5Moz Garden Well deposit). These surveys have also strengthened the prospectivity of the Boundary prospect, where surface gold anomalism is up to 10 times greater than other prospects located on GSN's tenure. Boundary is located south of Amy Clark , also along the Garden Well trend. GSN's Duketon Gold Project sits in the Duketon-Laverton major fault zone within the Eastern Goldfields Province , where there is a semi-regular distribution of major gold camps (+2Moz) on 30- to-40-kilometre intervals. GSN's tenure sits in a 75-kilometre stretch yet to yield a major hold deposit, which given the lack of modern exploration, bodes well for a significant discovery. GSN's Managing Director, Matthew Keane , commented: 'It is exciting to be back on the ground and drilling. This targeted program will see GSN return to the Golden Boulder prospect and follow up successful 2021 and 2023 drilling programs which intercepted high grade gold along three mineralised trends. Drilling has already defined up to 1.6 kilometres of mineralised strike and the upcoming program aims to confirm continuity, as well as testing depth extents. We also aim to test new targets that which have been defined by ongoing targeting. GSN's tenure remains highly underexplored with many target areas having virtually no drilling since Sons of Gwalia conducted broad spaced, shallow regional vacuum and air core programs in the 1990's'. Amy Clarke prospect The Amy Clarke area is interpreted to host approximately 12 kilometres of the Erlistoun and Garden Well structural trends. GSN previously defined up to five kilometres of gold and indicator element surface anomalism just 3.5 kilometres south of Regis Resources' Erlistoun open pit (320koz at 1.8 g/t Au). Broad spaced reconnaissance air core drilling of this zone in 2021 returned several >1 g/t gold intercepts, including a high-grade intercept of 8m @ 6.7g/t Au, including 4m @ 12.5 g/t Au from 32m in hole 21ACAC0147. A 2024 soil geochemical survey has expanded the prospectivity of the Amy Clarke area with at least three new gold-in-soil anomalies identified along the Garden Well Trend. Mapping has commenced over the anomalous areas and geology noted to-date along this trend is analogous with known styles of gold mineralisation, with NW-SE fault structures intersecting the main regional structures. Chert breccias and boudinaged cherts are developed along sheared ultramafic-sedimentary lithological boundaries - a favourable environment for gold precipitation Duketon Gold Project The Duketon Gold Project is located in the Eastern Goldfields Province within the Duketon-Laverton major fault zone. It has been identified through statistical wavelet (fixed zero-mean function) data analysis by Doutre et al., (2015) that major gold deposit distribution in this fault zone follows a rhythmic spacing of 30 to 40 kilometres, with clusters of large camps spaced at circa 100 kilometres. These distances are analogous to the thickness of the whole crust or lithosphere, suggesting consistent and self-organising crustal controls on gold deposit formation. In the Eastern Goldfields Province , gold deposits formed during a regional mineralisation event between 2655-2620 Ma (Duuring et al. 2007; Blewett et al. 2010) in a range of mineralisation styles. The Eastern Goldfields Province is host to greater than 130 Moz gold with major deposits, including Sunrise Dam (>8 Moz, Anglo Gold Ashanti ), the Wallaby - Granny Smith camp (>9 Moz, Gold Fields Ltd ), The Laverton gold camp (>2 Moz) and the Garden Well - Rosemont camp (>7 Moz, Regis Resources NL ). Anomalously, GSN's tenure sits along a circa 75-kilometre stretch, between the Laverton and Garden Well - Rosemont camps without a major discovery. GSN attributes this not to a lack of prospectivity, but rather insufficient depth of historical drilling and a lack of modern exploration The release of this ASX announcement was authorised by the Managing Director on behalf of the Board of Directors of the Company. For Further Information Contact: Matthew Keane Managing Director On Investor Hub: GSN Investor Hub link Email: [email protected] Phone: +61 8 9240 4111 Competent Person's Statement The information in this report that relates to exploration results at the Duketon Gold Project is based on, and fairly represents, information and supporting documentation compiled and/or reviewed by Ms Rachel Backus . Ms Backus is an employee and Senior Exploration Geologist of Resourceful Exploration Services Pty Ltd (ABN 29 661 905 193) and has been engaged by Great Southern Mining Limited . She has sufficient experience relevant to the assessment and of this style of mineralisation to qualify as a Competent Person as defined by the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves - The JORC Code (2012)'. Ms Backus consents to the inclusion in this report of the matters based on the information in the form and context in which they appear. Forward Looking Statements Forward- looking statements are only predictions and are not guaranteed. They are subject to known and unknown risks, uncertainties and assumptions, some of which are outside the control of the Company. Past performance is not necessarily a guide to future performance and no representation or warranty is made as to the likelihood of achievement or reasonableness of any forward-looking statements or other forecast. The occurrence of events in the future are subject to risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to differ from those referred to in this announcement. Given these uncertainties, recipients are cautioned not to place reliance on forward looking statements. Any forward- looking statements in this announcement speak only at the date of issue of this announcement. Subject to any continuing obligations under applicable law and the ASX Listing Rules, the Company, its directors, officers, employees and agents do not give any assurance or guarantee that the occurrence of the events referred to in this announcement will occur as contemplated. (C) 2024 Electronic News Publishing, source ENP Newswire

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