Resources & Energy Group Limited - FIRST GOLD POUR EXPECTED AT EAST MENZIES GOLD PROJECT THIS QUARTER

About this update from Resources & Energy Group Limited

Resources & Energy Group Limited (ASX: REZ) (REZ or the Company) is pleased to announce that following the successful capital raising in May, the Company and Lamington Minerals Pty Limited (Lamington) have lodged a Mining Proposal with The Western Australian Department of Energy, Mines, Industry Regulation and Safety (DMIRS) on 19 June 2024 . The proposal covers a gold vat leach program with ore sourced from the Maranoa strike that was previously identified as an ideal shallow, high-grade gold target to support a vat leach campaign at the East Menzies Project . As set out in our ASX Announcement on 24 October 2023 the campaign will initially target 5,000 tonnes of ore with a diluted grade of 4.6gt/ Au. After establishing the economics of the process, REZ will develop a largerscale vat leach campaign to treat additional shallow resources identified at the Maranoa (8,000 Oz) and Goodenough (43,000 Oz) gold deposits. REZ confirms that it is not aware of any new information or data in respect of this analysis that materially affects the information and all material assumptions and technical parameters under pinning the estimates continue to apply and have not materially changed. These deposits have been thoroughly drilled out to identify near-term mining opportunities within the cluster of high-grade, near-surface deposits on the western side of the East Menzies project area. This campaign will provide an income stream to fund further exploration and development of the company's 100km2 Menzies tenement package, which holds significant potential, including a potential multimillion-ounce gold resource and other high-grade polymetallic targets. PROGRAM OF WORKS Since Lamington was engaged on the 1st of June, the company, with the assistance of the Sydney -based REZ team, has exceeded expectations by completing a series of keystone tasks in preparation for the upcoming mining program at Maranoa, including: Registration of Lamington Resources with DMIRS as Project Managers. Engagement of a qualified Registered Manager to oversee the REZ tenement package in Menzies. Implemented a robust site-wide OH&S policy. Engaged Digimaps to collate & produce detailed exploration, tenement, geological & tenement mapping for the overall project. Shortlisted & engaged Fremantle Metallurgy to complete detailed metallurgical test work on the target orebody. Identified and demarcated the proposed mining, processing, camp and transport routes. Lodged a detailed Mining Proposal and Mine Closure Plan with DMIRS. Sourced and purchased long lead items required for the program. Established preliminary contacts with local service providers & stakeholders Obtained quotes and shortlisted equipment suppliers. Commenced interviewing locally sourced staff and established a local presence in the town of Menzies. Engagement of a Kalgoorlie-based geologist to oversee and coordinate a detailed resource evaluation of the combined Menzies tenement package REZ GROUP MANAGING DIRECTOR J. DANIEL MOORE SAID : 'Gold mining activity at our Maranoa project is now ready to proceed once approval from DIMRS is received. We proved in FY2022 that, working with a reputable mining contractor, gold projects of this scale can be very profitable at a gold price of circa A$2,600 . As the current gold price is now around A$3,500 , we are hoping to improve on that success. 'Lamington see Maranoa as a major opportunity to provide the local industry with economic processing options that can be scaled up and provide cash flow for companies like REZ, which has high-grade, low-volume assets that have previously required trucking ore up to 130km to the nearest mill. Successfully undertaking gold mining operations and processing using the trial vat leach facility for gold production at Maranoa, opens up a number of other old gold mines on our tenements for similar operations' CONTACT ABOUT RESOURCES AND ENERGY GROUP Resources and Energy Group Limited (ASX: REZ) is an ASX-listed mineral resources explorer and miner, with projects located in premier mining jurisdictions in Western Australia and Queensland . As of April 2023 , the Company has gold and silver resources of 183k oz/au and 862k oz/au ag: refer to Table below. Resources and Energy Group Resources (1), (2) (4) Refer to ASX releases made on 26 February 2016 , 21 June 2016 and 19 May 2020 concerning the Mt CONTACT ABOUT RESOURCES AND ENERGY GROUP Resources and Energy Group Limited (ASX: REZ) is an ASX-listed mineral resources explorer and miner, withprojects located in premier mining jurisdictions in Western Australia and Queensland . As of April 2023 , theCompany has gold and silver resources of 183k oz/au and 862k oz/au ag: refer to Table below.Resources and Energy Group Resources The EMP currently encompasses seven operational areas, including the Gigante Grande Gold prospect on the east side project area, which has been subdivided into three geographical domains (North, Central and South. In the southwest, drilling investigations at Springfield have intersected magmatic Ni sulphides. This is a significant and material exploration result that has opened a large tract of prospective ground for nickel, cobalt, copper, and platinum group elements. In the central west, the Company is investigating opportunities for mining operations in M29/189 Granny Venn, M29/141 Goodenough, and M29/427 Maranoa. In the north exploration planning is underway to investigate the Venn Springfield corridor, from the northern end of the Granny Venn Open Pit to the Cock Robin prospect located in E29/929. In Queensland , the Company has a 12km2 Mineral Development Licence over the Mount Mackenzie Mineral Resource and retains a further 15km2 as an Exploration Permit. These tenements are prospective for high, intermediate, and low sulphidation gold and base metals mineralisation. The current MRE for Mount Mackenzie has been estimated at 3.42Mt @ 1.18g/t gold and 9g/t silver for a total of 129,000 oz gold and 862k oz silver: refer to the Resource Summary. The Company is carrying out mining, groundwater, ecological, and metallurgical studies, to inform a PFS study and an application for an Environmental Authority to develop the projec Contact: Tel: +61 2 9227 8900 (C) 2024 Electronic News Publishing, source ENP Newswire

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